SmartStop Self Storage REIT (SMA) investor relations material

Platform overview and growth strategy

• Operates a diversified, technology-enabled self storage platform with 468 owned and managed properties across the U.S. and Canada, focusing on high-growth markets and unique exposure to the Greater Toronto Area (GTA).

• Achieved ~227% portfolio growth over five years, becoming a top 10 U.S. operator and the largest in the GTA.

• Employs a multi-pronged growth strategy: organic growth, acquisitions, joint ventures, managed REITs, and third-party management.

• Managed REIT and third-party management platforms provide incremental revenue and acquisition pipeline.

• Technology investments and a proprietary platform (Dash) drive operational efficiency and customer experience.

Financial and operational performance

• Reported $161 million LQA NOI and $3.1 billion in historical acquisition volume as of Q1 2026.

• Maintained 92.3% same-store occupancy and $20.10 annualized same-store rent per occupied square foot in Q1 2026.

• Three-year average same-store YoY revenue growth of ~1.5%, outperforming peers in revenue and NOI growth.

• Embedded internal growth opportunities exist in non-same-store assets, with significant margin expansion potential.

• Solar initiative expected to generate $1.8M in annual savings with $9.7M invested and 64 live sites.

Market positioning and expansion

• Operates in 24 U.S. states and Canadian provinces, with over 65% portfolio concentration in top markets.

• Key markets include Toronto, Miami-Fort Lauderdale, Houston, Los Angeles, and Las Vegas.

• Canadian expansion is a differentiated strategy, with the GTA representing 16%+ market share and robust infrastructure for scale.

• Canadian markets are underpenetrated, offering significant growth potential compared to U.S. averages.

• Recent acquisitions and joint ventures, including a $100M bridge lending JV with AXCS Capital, enhance capital allocation and acquisition pipeline.