Life Storage (LSI) Announces 2.5M Share Offering

Life Storage, Inc. (NYSE: LSI), a leading national owner and operator of self-storage properties, announced that it will issue and sell 2,500,000 shares of its common stock in a public offering. Citigroup and Wells Fargo Securities are acting as the joint book-running managers for the offering. Life Storage will grant the underwriters a 30-day option to purchase up to an additional 375,000 shares of common stock.

The Company intends to use the net proceeds from the offering to repay the outstanding balance under its revolving credit facility, fund acquisitions, and/or for general corporate purposes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sale of securities in any state or jurisdiction in which such offer, solicitation, or sale is not permitted.

The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (the "SEC") and only by means of a prospectus supplement and the accompanying prospectus. Copies of the preliminary prospectus supplement relating to the offering and the final prospectus supplement, when available, may be obtained from:

• Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 800-831-9146 or email a request to [email protected].
• Wells Fargo Securities, Attention: Equity Syndicate Department, 500 West 33rd Street, New York, New York, 10001, by telephone at 800-326-5897, or email a request to [email protected].
• A prospectus supplement related to the offering will also be available free of charge on the SEC's website at http://www.sec.gov.

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