Public Storage Announces Tax Treatment of 2020 Dividends

Public Storage (NYSE:PSA) announced today the tax treatment of the Company’s 2020 dividends. For the tax year ended December 31, 2020, 100% of the distributions for the PSA common stock and all the
various series of preferred stock were classified as ordinary income. The Company did not declare a capital gain distribution, nor did it have any unrecaptured section 1250 gain for 2020.

The ordinary