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Public Storage 3.950% Cumulative Preferred Shares, Series Q

Ticker: PSA-Q

Parent Ticker: PSA

OTC Grey Market Temporary Ticker: NA

Issuance Date: 08/10/2021

1st Call Date: 08/17/2026

Maturity Date: None

Shares Issued: 5,000,000

Overallotment Shares: 750,000

Coupon: 3.95%

Face Value: $25.00

Cumulative: Yes

Qualified: No

Quarterly Dividend Amount: 0.247

Payment Months: MAR, JUN, SEP, DEC

Payment Day: Last Day

S&P Rating: BBB+

III Rating (In Regards to Dividend Safety Only): A

Moody Rating: A3

Fitch Rating: NR

Egan-Jones Rating: NR