Investing in Safestore: A Strategic Overview

Safestore has a proven track record in long term value creation. The business model remained resilient during the global financial crisis and the Covid-19 pandemic, with a leading presence in London, Paris, and key markets within the self storage sector. This is underpinned by developing profitable and sustainable spaces that allow individuals, businesses, and local communities to thrive.

1. Attractive market • Under-supplied and growing industry • Significant barriers to entry – constrained supply of attractive locations	2. Unique portfolio • European leading platform • Leading positions in key “space‑constrained” European cities • Unlet invested space equivalent to around 90 stores including pipeline with further development • Growth potential in UK/France and further expansion in the Netherlands, Belgium, German, and Spanish markets	3. People • A diverse community of well-trained, motivated and engaged colleagues • Investors in People Platinum accreditation awarded
4. Strategic benefits of scale • In-house expertise and scalable marketing technology • Systems and pricing analytical capacities • UK Leading National Accounts offering	5. Strong cash generation • Scalable platform able to finance development and acquisition opportunities • Intelligent use of working capital, positive operating cash flow, strong and flexible capital structure, and quality income-generating assets • Strong dividend growth	6. Quality of earnings • Diversified income stream from 90,000 customers • Existing customers from prior years driving 70% to 80% of revenue • High margins – low break-even • Low maintenance CAPEX