EXTRA VALUE: 2019 ANNUAL REPORT

EXTRA GREEN: SUSTAINABILITY

At Extra Space, we believe in running a company that is built to last. We believe by being extra green, we provide extra value to our customers, employees, shareholders, and communities. We achieve this through our ongoing efforts to improve the sustainability of our operations by employing environmental, social and governance best practices and initiatives. Additional information about our sustainability initiatives and corporate governance can be found here.

We’re proud to have been recently recognized for the efforts we have been making for the last nine years by industry thought leaders like GRESB and Just Capital. Our record of improvement in these ratings shows our focus on becoming better and better each year.

"Choosing to lead the industry in sustainability is in our DNA. Sustainability is at the intersection of what’s best for the environment, for our employees, for our customers, for the communities we are in, and for our shareholders."

JOSEPH D. MARGOLIS
Chief Executive Officer


Highest-rated U.S. Self-storage REIT by GRESB

GRESB Public Disclosure Level

Global Average: C

GRESB REAL ESTATE ASSESSMENT

2019 Improvement

ENVIRONMENTAL
GOVERNANCE
SOCIAL
ENVIRONMENTAL
HIGHLIGHTS
  • 440+ Solar Powered Facilities
  • 48 New Solar Installations at REIT Stores in 2019
  • 43% of REIT Owned Locations with Solar Panels
  • 26.4 GWh of Energy Through Solar Panels in 2019
  • Recognized as a Top 10 Corporate User of Solar Installations
  • Light fixtures in all REIT properties updated to LED or T8 lighting systems
  • 3.5% reduction in water usage, despite 10.3% increase in property count
  • Saved over 10 million sheets of paper through digital lease initiative
ENVIRONMENTAL
ENVIRONMENTAL
HIGHLIGHTS
  • 440+ Solar Powered Facilities
  • 48 New Solar Installations at REIT Stores in 2019
  • 43% of REIT Owned Locations with Solar Panels
  • 26.4 GWh of Energy Through Solar Panels in 2019
  • Recognized as a Top 10 Corporate User of Solar Installations
  • Light fixtures in all REIT properties updated to LED or T8 lighting systems
  • 3.5% reduction in water usage, despite 10.3% increase in property count
  • Saved over 10 million sheets of paper through digital lease initiative
GOVERNANCE
GOVERNANCE
HIGHLIGHTS
  • Lead independent director of our board and independent director-lead Audit and CNG Committees
  • Annual advisory vote to approve executive compensation
  • Separate Chairman and CEO
  • Stockholder ability to amend bylaws
  • Anti-pledging policy for officers and directors
  • 22% of our board is female
  • 2/3 of our directors are independent
SOCIAL
SOCIAL
HIGHLIGHTS
  • Glassdoor: 2020 Best Places to Work Winner
  • Glassdoor: 2019 Top CEO
  • Part of the Women’s Leadership Institute’s “ElevateHer Challenge” to support advancing women in the workplace
  • Recognized by the 2020 Women on Boards group for having over 20% of our board female
  • 85 engagement score on annual employee survey
  • New Diversity and Inclusion committee, commitment and initiatives
  • Received a Platinum Award from The Utah Worksite Wellness Council for employee wellness efforts
  • Partnered with Western Governors University to offer new education assistance program for employees seeking an undergraduate degree allowing employees to graduate with low, to no cost
  • Forbes 2020 The Best Employers for Diversity Winner

SOLAR PROGRAM

For the past nine years we’ve been dedicated to our solar program, and we are seeing rewards for this effort. With over 440 facilities powered by solar, this year we produced enough solar energy to power over 2,500 homes for an entire year. We’ve added so many installations that the Solar Energy Association recognized Extra Space as a Top 10 Corporate User by Number of Solar Installations last year, alongside Target, Walmart and Walgreens. Our solar efforts reduced our electricity while producing a great return, showing clearly how sustainability can be at the intersection of what’s good for the environment, the community and our shareholders.


SOLAR POWERED FACILITIES