NSA issues supplemental disclosures for Public Storage merger; three shareholder lawsuits filed

National Storage Affiliates Trust

Three lawsuits filed in NY and CO challenging the merger, alleging breaches of fiduciary duty and seeking injunctive relief.
Company voluntarily supplements proxy statement with additional financial analyses and Dropdown JV estimates.
Supplemental disclosures include comparable company analysis table and illustrative JV estimates for seven-year period.
Company believes claims are without merit but makes disclosures to avoid delay and expense.
Special meeting of shareholders to vote on merger scheduled for July 14, 2026.

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