Political Disclosure

Public Storage does not use any corporate funds or assets to make political contributions or independent expenditures on behalf of candidates, parties, or referenda, or to support groups organized under sections 527 or 501(c)(4) of the Internal Revenue Code. Public Storage seeks to avoid any indirect political expenditure by requesting written confirmation annually from each U.S. trade association to which Public Storage has paid dues or made other payments in excess of $25,000, that the trade association has not used any portion of payments made by Public Storage to make a political contribution or independent expenditure on behalf of any political party or candidate.