4

In November 2021, the Company executed a joint venture agreement, GII Life Storage Holdings LLC, with an unrelated third-party with the purpose of acquiring and operating self-storage facilities. In December 2021, GII acquired 13 self-storage facilities for a total of $290.6 million, at which time GII entered into $145.3 million of nonrecourse mortgage debt which matures in 2029. During 2021, the Company contributed $52.0 million to GII as the Company's share of the initial capital investment in the joint venture.

5

In July 2022, the Company executed a joint venture agreement, Life Storage HHF Wasatch Holdings LLC, with an unrelated third-party with the purpose of acquiring and operating self-storage facilities. In September 2022, Wasatch acquired 15 self-storage facilities for a total contractual purchase price of $262.0 million. During 2022, the Company contributed $51.5 million to Wasatch as the Company's share of the initial capital investment in the joint venture. At September 30, 2022, the joint venture was under contract to acquire one additional self-storage facility for an aggregate purchase price of $22.5 million.

6

Iskalo owns the building that houses the Company’s headquarters. The Company paid rent to Iskalo of $1.2 million and $1.1 million during the nine months ended September 30, 2022 and September 30, 2021, respectively.

7

In September 2021, the Company made an additional investment of $27.3 million in McDonald which increased the Company's ownership interest in McDonald from 5% to 86%. In April 2022, the Company purchased the remaining equity interest in McDonald for total consideration of $5.2 million. The allocated purchase price of McDonald also includes the carrying value of the Company's investment in McDonald at the date of acquisition, which totaled $30.2 million.

8

In October 2021, the Company executed a joint venture agreement, Life Storage ArrowMark Venture LLC, with the purpose of arranging and originating mortgage loans to owners of self-storage facilities throughout the United States. During 2021 and 2022, the Company contributed $1.6 million and $2.8 million, respectively, to ArrowMark Venture as the Company's share of the funding of two mortgage loans to third-parties in 2021 and one mortgage loan to a third-party in 2022.

9

The Company has entered into six separate joint ventures, one of which is developing a self-storage facility in Ontario, Canada, four of which are developing self-storage facilities in the New York City market, and one of which is developing a self-storage facility in the Tampa, FL, market. The Company has contributed an aggregate total of $18.8 million as its share of capital to these joint ventures.

10

Included in other unconsolidated joint ventures is LS HF8 COMREF Holdings LLC ("HF8"). During August 2022, the Company executed the HF8 joint venture agreement with an unrelated third party for the purpose of acquiring self-storage facilities and contributed $1.2 million as the Company's share of the initial capital investment in the joint venture during the three months ended September 30, 2022. At September 30, 2022, the joint venture was under contract to acquire three self-storage facilities for an aggregate purchase price of $59.0 million. The acquisition of these facilities was completed during October 2022.