X0306 4 2022-12-22 0 0001393311 Public Storage PSA 0001322750 GUSTAVSON TAMARA HUGHES C/O PUBLIC STORAGE 701 WESTERN AVENUE GLENDALE CA 91201 1 0 1 0 Common Stock 2022-12-22 4 M 0 5163 159.40 A 14119639 D Common Stock 2022-12-22 4 M 0 5163 170.60 A 14124802 D Common Stock 2022-12-22 4 M 0 5163 181.95 A 14129965 D Common Stock 2022-12-22 4 M 0 5163 250.29 A 14135128 D Common Stock 2022-12-22 4 M 0 5163 216.83 A 14140291 D Common Stock 2022-12-22 4 M 0 5163 187.57 A 14145454 D Common Stock 2022-12-22 4 M 0 5163 211.30 A 14150617 D Common Stock 11348 D Common Stock 5500 D Common Stock 2785000 I By Trust Common Stock 27343 I By IRA Common Stock 1300 I By Husband Common Stock 295000 I By LLC Stock Option (Right to Buy) 159.40 2022-12-22 4 M 0 5163 0 D 2014-05-09 2023-05-09 Common Stock 5163 0 D Stock Option (Right to Buy) 170.60 2022-12-22 4 M 0 5163 0 D 2015-05-01 2024-05-01 Common Stock 5163 0 D Stock Option (Right to Buy) 181.95 2022-12-22 4 M 0 5163 0 D 2016-04-30 2025-04-30 Common Stock 5163 0 D Stock Option (Right to Buy) 250.29 2022-12-22 4 M 0 5163 0 D 2017-04-25 2026-04-25 Common Stock 5163 0 D Stock Option (Right to Buy) 216.83 2022-12-22 4 M 0 5163 0 D 2018-04-26 2027-04-26 Common Stock 5163 0 D Stock Option (Right to Buy) 187.57 2022-12-22 4 M 0 5163 0 D 2019-04-25 2028-04-25 Common Stock 5163 0 D Stock Option (Right to Buy) 211.30 2022-12-22 4 M 0 5163 0 D 2020-04-24 2029-04-24 Common Stock 5163 0 D By Tamara Hughes Gustavson and B. Wayne Hughes, Jr. - Separate Property. By reporting person and husband. By custodian of an IRA for benefit of reporting person. By LLC of which reporting person is a member and manager. Stock option granted pursuant to the 2007 Equity and Performance-Based Incentive Compensation Plan. Option vests in three (3) equal annual installments beginning one (1) year from grant date. This option was previously reported as an option for 5,000 shares of common stock at an exercise price of $164.62, but, pursuant to anti-dilution provisions of PSA's 2007 Equity and Performance-Based Incentive Compensation Plan, was adjusted to reflect the special dividend declared by PSA on July 22, 2022. This option was previously reported as an option for 5,000 shares of common stock at an exercise price of $176.19, but, pursuant to anti-dilution provisions of PSA's 2007 Equity and Performance-Based Incentive Compensation Plan, was adjusted to reflect the special dividend declared by PSA on July 22, 2022. This option was previously reported as an option for 5,000 shares of common stock at an exercise price of $187.91, but, pursuant to anti-dilution provisions of PSA's 2007 Equity and Performance-Based Incentive Compensation Plan, was adjusted to reflect the special dividend declared by PSA on July 22, 2022. This option was previously reported as an option for 5,000 shares of common stock at an exercise price of $258.49, but, pursuant to anti-dilution provisions of PSA's 2007 Equity and Performance-Based Incentive Compensation Plan, was adjusted to reflect the special dividend declared by PSA on July 22, 2022. Stock option granted pursuant to the 2016 Equity and Performance-Based Incentive Compensation Plan. Option vests in three (3) equal annual installments beginning one (1) year from grant date. This option was previously reported as an option for 5,000 shares of common stock at an exercise price of $223.93, but, pursuant to anti-dilution provisions of PSA's 2016 Equity and Performance-Based Incentive Compensation Plan, was adjusted to reflect the special dividend declared by PSA on July 22, 2022. This option was previously reported as an option for 5,000 shares of common stock at an exercise price of $193.71, but, pursuant to anti-dilution provisions of PSA's 2016 Equity and Performance-Based Incentive Compensation Plan, was adjusted to reflect the special dividend declared by PSA on July 22, 2022. This option was previously reported as an option for 5,000 shares of common stock at an exercise price of $218.22, but, pursuant to anti-dilution provisions of PSA's 2016 Equity and Performance-Based Incentive Compensation Plan, was adjusted to reflect the special dividend declared by PSA on July 22, 2022. /s/ Nathaniel A. Vitan, Attorney-in-Fact 2022-12-23