Public Storage (PSA) is a public company. Public Storage built its first self-storage facility in 1972. Today we’re the nation’s largest self-storage provider and we couldn’t have done it without the support and dedication of all our team members. It’s our people — the remarkable Public Storage family — that makes us the leader in the industry! We’re privileged to have driven and talented groups of people across all levels of our organization: Property Managers who greet and assist our customers every day; District Managers who strive to ensure each member of their team is trained for success; Corporate team members and Company Officers work passionately to provide Field Management with tools required for them to succeed. We owe our success to their effort and dedication. Be a part of our thriving community, the Public Storage Team! It’s Great To Be Orange. #GTBO

Explore our website for opportunities ranging from Property Management, Field Management, Corporate, Real Estate, IT and Call Center positions. You’ll find one that's just right for you.

Training is on us; success is yours to keep! Founded in 1972. It has 4,767 employees. IPO 1980.

Transcript

Operator

Welcome to Public Storage second quarter 2026 earnings conference call. At this time, all participants are on a listen-only mode. A question and answer session will follow the formal presentation. At that time, if you'd like to ask a question, please press star one on your telephone keypad. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Brandon Reagan. Thank you. You may begin.

Brandon Reagan — Director of Investor Relations

Thank you, operator. Hello, everyone. Thank you for joining us for our second quarter 2026 earnings call. I'm here with Tom Boyle and Joe Fisher. Before we begin, we want to remind you that certain matters discussed during this call may constitute forward-looking statements within the meaning of the federal securities laws. These forward-looking statements are subject to certain economic risks and uncertainties. All forward-looking statements speak only as of today, July 30th, 2026, and we assume no obligation to update, revise, or supplement statements that become untrue because of subsequent events. A reconciliation to GAAP of the