2025 Sustainability Report | Extra Space Storage

ESG Targets

2025 Goals

We have reached the conclusion of our current long-term sustainability target cycle. Throughout this period, the company has been transparent in performance and measuring progress against clear baselines. Goals in renewable energy generation, GhG emissions reduction, energy consumption reduction, and water consumption reduction were achieved. The ambitious goal around non-recyclable waste reduction was missed, partially due to a change in reporting approach with our vendor Waste Management in 2023, which we believe is more accurate than historical periods.

Initiative	Goal	Progress
Energy Consumption	20% reduction in like-for-like energy consumpton intensity by 2025 using 2018 as a baseline year	ACHIEVED! 20% reduction from baseline
Water Consumption	20% reduction in like-for-like water consumpton intensity by 2025 using 2018 as a baseline year	ACHIEVED! 26% reduction from baseline
Non-recyclable Waste	50% decrease in like-for-like non-recyclable waste intensity by 2025 using 2018 as a baseline year	MISSED 28% decrease from baseline
Renewable Energy Generation	100% increase in renewable energy generation across the portfolio by 2025 using 2018 as a baseline	ACHIEVED! 221% increase over baseline
GhG Emissions (Scope 1 & 2)	26% reduction in like-for-like GhG emissions intensity by 2025 using 2019 as a baseline.*	ACHIEVED! 31% reduction from baseline

*GhG emissions target is based on SBTi 1.5C scenario criteria. The company has not submitted a target for validation as of the date of this report.

2030 Goals

After analyzing the data and learnings from our prior goal setting, we are excited to announce the next generation of forward-looking targets to further drive efficiency. We will be using 2024 as our baseline year for data and will be resetting our like-for-like pool. This year was chosen because it captures our portfolio after the Life Storage merger, capturing a larger percentage of our stores and giving us a larger like-for-like pool moving forward. The like-for-like pool is made up of wholly-owned REIT properties and consolidated JV properties consolidated properties on our platform and includes 1,927 properties. Using 2024 as the baseline, our goals dated to 2030 are as follows:

Initiative	Goal
Energy Consumption	10% reduction in like-for-like energy consumption intensity by 2030 using 2024 as the baseline year.
Water Consumption	10% reduction in like-for-like water consumption intensity by 2030 using 2024 as baseline year.
Non-recyclable Waste	15% decrease in like-for-like non-recyclable waste intensity by 2030 using 2024 as a baseline year.
Renewable Energy Generation	75% increase in renewable energy generation across the portfolio by 2030 using 2024 as a baseline year.
GHG Emissions (scope 1 & 2)	26% reduction in like-for-like GhG emissions intensity by 2030 using 2024 as a baseline year.