NSA amends executive LTIP awards after peer group merger; shifts performance metrics

National Storage Affiliates Trust

Peer group reduced from 4 to 3 after merger of two peers in July 2023.
For 2022 & 2023 awards, performance allocation changed: 30% peer TSR (previously 50%) and 70% MSCI REIT index.
Peer TSR component now compares NSA TSR to 3-year weighted average of peers plus/minus basis points.
Fair value of awards decreased as a result of modifications.
Amendments adjust for potential removal of additional peers with 10% shift between components.

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