Extra Space Storage Inc. (EXR) 2023年年度报告「NYSE」.pdf

1、FORWARD IN EXCELLENCE2023 ANNUAL REPORTEXTRA SPACE STORAGE INC.2023 ANNUAL REPORTNote to Printer:Spine type positioning and size in this file is approximate.Please measure accurate paper dummy for and adjust spine width to this years annual report spine width.Adjust spine type so that it centers on

2、spine,both vertically and horizontally.Background of spine prints solid green PMS 2292 spine background and spine type knocks out to white on the spine.Green spine background extends across width of spine,from edge of front cover to edge of back cover.Go to https:/ view our online annual report.10-Y

3、EAR TOTAL SHAREHOLDER RETURN CHART 42STATES$47BENTERPRISE VALUE94%AVERAGE OCCUPANCY$15BMERGER WITH LIFE STORAGES&P 500MEMBER SINCE 2015BBB+S&P GLOBALRATINGWe have had a busy and remarkable year at Extra Space Storage in 2023.After two years of unprecedented property level growth and active external

4、expansion in 2021 and 2022,I told our team to expect a more normal year in 2023,as the storage sector returned to historical revenue growth rates and acquisition volume slowed.I encouraged our departments to focus on the fundamentals in each of their respective areas of the business to ensure that w

5、e had seamless execution as tailwinds from the pandemic slowed,and as headwinds from interest rates,inflation and moderating demand increased.This all changed,when one of our publicly traded peers,Life Storage was put in play during the first quarter and we were invited to make a merger bid for the

6、company.Life Storage had a high-quality,broadly diversified,national storage portfolio of more than 1,200 properties totaling approximately 90 million square feet.We were very familiar with the Life Storage assets,and we knew there would be significant synergies created by combining the companies to