#1FREE Use of This Truck When You and with U CUBESMART March 2021 Ⓡ CUBESMART#2Safe Harbor Statement The forward-looking statements contained in this presentation are subject to various risks and known and unknown uncertainties. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, there can be no assurance that the Company's expectations will be achieved. Factors which could cause the Company's actual results, performance, or achievements to differ significantly from the results, performance, or achievements expressed or implied by such statements are set forth under the captions "Item 1A. Risk Factors" and "Forward-Looking Statements" in our annual report on Form 10-K and in our quarterly reports on Form 10-Q and described from time to time in the Company's filings with the SEC. Forward-looking statements are not guarantees of performance. For forward-looking statements herein, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events. Use of Non-GAAP Financial Measures This presentation contains certain non-GAAP financial measures. The definitions of these terms, the reasons for their use, and reconciliations to the most directly comparable GAAP measures are included in our Earnings Release as well as the Non-GAAP Financial Measures section under the caption "Management's Discussion and Analysis of Financial Condition and Results of Operations" (or similar captions) in our quarterly reports on Forms 10-Q and 10- K, and described from time to time in the Company's filings with the SEC. 2 CUBESMART#3Introduction to CubeSmart Self Storage CUBESMART 1,266 Properties¹ 3 CUBESMART CURESANT 38% 5-year Growth in FFO per Share, as Adjusted³ 12 self storage - ODCUBESMART 28% 5-year total shareholder return³ 1. As of December 31, 2020 2. Market value of common equity and book value of debt as of December 31, 2020 CUBE SMART Our Mission: To simplify the organizational and logistical challenges created by the many life events and business needs of our Customers through innovative solutions, unparalleled service and genuine care 3. 4. $9.2 Billion Market Cap² 93% 5-year Dividend Growth 4 Period ending December 31, 2020 Annual dividends declared in period ending December 31, 2020#4CubeSmart's History Focused strategic execution driving meaningful growth Arrival of current management team 2006 U-STORE.IT U-Store-It Initial Public Offering 2004 Enterprise Value¹: $1.0 billion 2004 4 CUBESMART Moved headquarters to suburban Philadelphia 2008 Began capital recycling program to improve portfolio quality 2007 CUBESMART Rebranded company as CubeSmart 2011 Acquired United Stor-All to establish 3rd Party Management platform 2010 Received Investment Grade credit rating from Moody's and S&P 2011 Acquired 22 property Storage Deluxe portfolio, primarily in NYC, for $560 million 2011 1. Market value of common equity and book value of debt as of October 22, 2004 2. Market value of common equity and book value of debt as of December 31, 2020 Enterprise Value: $9.2 billion Grew the portfolio by over $2.5 billion through acquisitions and developments 2015-2020 WINNER ISS SELF-STORAGE 2012 BEST OF BUSINESS BEST CUSTOMER SERVICE Won 1st ISS industry award for Best Customer Service 2012 Opened 1,000th CubeSmart branded location 2018 2021#5Value Creation Strategy Generate sustainable growth to maximize long-term shareholder value CUBESHART at stop Building an industry leading platform to generate outsized growth from our high quality portfolio, maximizing long-term shareholder value 1744 5 CUBESMART Attractive Industry Experienced Management Team Sophisticated Operating Platform Di Best-in-Class Portfolio A Investment Grade Balance Sheet#6Attractive Industry Storage is an attractive and resilient asset class History of Compelling Returns Self-storage has been a top performing REIT sector through all phases of the economic cycle with 10-year returns averaging 17% ¹ Diverse Tenant Base Most diverse customer base of any REIT sector, averaging over 650 customers per store 6 CUBESMART DRUCK W SUMATE CUBE SMART self storage Short-Term Lease Month-to-month rentals allow for rapid repricing in response to changing economic conditions High Margins High margins and low cap-ex requirements drive more cash flow to the bottom line with sector average NOI margins of 71.0%² 1. Source: NAREIT Annual Returns by Property Sector 2. Full-year 2020 average same-store margins for four largest publicly traded self-storage REITs by market cap#7Sector Trends Attractive fundamentals have driven continued evolution of the industry New Supply CUBESMART self storage Strong historical returns have led to increased new development across many core markets Influx of Private Capital 7 CUBESMART OLLED CUBE SMART Favorable returns have been driving private capital to invest in storage Product Awareness Continued growth in awareness & utilization has increased demand for the product Management Consolidation Sophistication of larger platforms has led to consolidation through third-party management#8Experienced Management Team Christopher P. Marr President & Chief Executive Officer Timothy M. Martin Chief Financial Officer Jeffrey P. Foster Chief Legal Officer Joel D. Keaton Chief Operating Officer Average Senior Management Experience 8 CUBESMART ● • Tim has been CFO of CubeSmart since November 2008 Joined the company in 2006 and previously served as Chief Accounting Officer Prior to joining CubeSmart, Tim was employed by Brandywine Realty Trust in a variety of roles, including Chief Accounting Officer, Treasurer, and VP of Finance ● ● ● ● ● Chris has been CEO of CubeSmart since January 2014 Currently the longest-tenured CEO in the sector Joined the company in 2006, and previously served as Chief Operating Officer, Chief Investment Officer, and Chief Financial Officer Currently serves on the board of NAREIT ● Jeff has been Chief Legal Officer and Secretary since February 2009 Prior to joining CubeSmart, Jeff served as SVP and Associate General Counsel of Gramercy Realty and as an associate with Morgan, Lewis & Bockius, LLP Joel has been Chief Operating Officer since February 2020 Joined the company in 2010 and previously served as SVP of Operations, VP of Marketing, and Director of Revenue Management Previous experience in roles at United Store-All Management, Extra Space, and Storage USA Previously served on the board of the Self Storage Association 13 Years with CubeSmart 19 Years in self-storage 19 Years at publicly traded REITS#9Proven Record of Cash Flow Growth Continued execution of our business plan generating solid results $2.00 $1.75 $1.50 $1.25 $1.00 $0.75 $0.50 $0.25 $0.00 Continued Strategic Execution FFO per Share, as adjusted 2016 2017 2018 9 CUBESMART Execution on our core operations has driven strong organic growth We continue to grow the portfolio through all available avenues to maximize risk-adjusted returns for shareholders, including meaningful cash flow growth +4.5% CAGR 2019 2020 $1.40 $1.20 $1.00 $0.80 $0.60 $0.40 $0.20 $0.00 Annual Dividend per 2016 2017 Share +10.3% CAGR 2018 2019 2020 Cumulative Total Shareholder Return 200.0% 150.0% 100.0% 50.0% 0.0% 2016 2017 2018 +9.2% CAGR 2019 2020#10High Quality Operating Platform Continued investment in fully integrated platform focused on efficient service delivery (5) 7 5-time winner of Inside Self-Storage, Best of Business 7-time winner of the Gold Stevie Award 10 CUBESMART Marketing Attracting the greatest share of potential demand through continually evolving digital platforms paired with targeted traditional marketing efforts Revenue Management Proprietary systems and processes to dynamically generate pricing decisions in order to maximize the value of each customer 20 Technology Building a foundation of proprietary solutions to improve operating efficiency and customer interactions ST!! Customer Service Award-winning customer service platform delivers an unparalleled experience encouraging retention and advocacy#11Constantly Evolving Operational Sophistication Leveraging proprietary systems & processes across the platform • SEO-focused content creation Targeted local marketing efforts Exploratory marketing channels Sophisticated brand development campaigns ● ● 1 Research 11 CUBESMART ● • Website A/B Testing Conversion funnel analysis and optimization by a team of data scientists ● ● Fully-integrated conversion- driven sales center 3 Conversion 2 Shopping Automated paid search bidding model 3rd generation proprietary pricing optimization system Mobile-optimized website ● 4 Optimized customer rate increase model • Award winning customer service Internal data warehouse and ● analytics tools to better understand customer behavior Rental 5 Customer SmartRentalTM, our fully online rental process Hive, our proprietary point-of- sale platform, is the foundation for operational enhancements#12Technological Innovation Enhancing the customer experience through contact-free innovations SmartRental Contact-free Fully Online Rental Capability Launched: April 2020 B CUBESMART self storage 12 CUBESMART Rent a Self Storage Unit Up to 35% Off Monthly Rent We're Open: Rent Online Contact-Free Today See Locations Near Me OR Enter Zip, City or State TM Search Introducing Contact-Free Storage Rentals Ability to rent online from any web-enabled device Customers can reserve their unit, sign a lease, pay & move in without interaction with CubeSmart teammates CUBERT Self st Single Digital Location to Manage Storage Needs Launched: September 2020 Payment Details David your Payme completed Succes February 24, 2020 CubeSmart Mobile App Easy to manage. Anytime. Anywhere Visa7786 $204.35 Cabe Det A006 Dane 9:41 = A-006 10.0" x 10.0 4772 South Atanta Road Aciana, PA 19 BUKANDUNT $204.85 PAYMENT OPTIONS F Online UNIT OPTIONS My Cubes A Cube Info GATE CODE 09837216 FA Manage AutoPay PAID THROUGH FEB 24 O Get Directions D Histor D CUBESMART self storage Rent a cube and find new locations, contact-free Access personal gate codes Pay bills & set up autopay Check account balances & payment history Receive push notifications with important information#13Operational Strength Drives Results Proven track record of execution, generating meaningful growth Building a strong operational platform on a foundation of sophisticated marketing, revenue management, and customer service has generated outperformance against sector averages across key metrics and driven incremental growth 13 CUBESMART Same-Store Revenue Growth 3.5% CUBE 5 Year Outperformance¹ 0.3% CUBE 2.9% Same-Store Margin Growth Storage Avg 0.1% Storage Avg Same-Store NOI Growth 4.0% CUBE 10.3% 3.1% FFO, as adjusted Growth CUBE Storage Avg 6.2% Storage Avg 1. Reported average full-year metrics for the other three largest publicly-traded storage REITs by market cap from January 1, 2016 through December 31, 2020#14National Platform with a Focus in Core Markets Our top 12 markets are major metro areas that generate 68% of same-store revenue So. CA 3% Phoenix 3% States with Owned Stores States with Managed Stores Only 14 CUBESMART 1. During the quarter ended December 31, 2020 Dallas 6% Houston 2% Chicago 7% Atlanta 3% Orlando 2% Wash DC 7% Miami 9% NY/NJ/LI 21% Phila. 3% Boston 2% Staten Island 0.4% Queens 4% Brooklyn 3% North NJ 5% Bronx 5% Long Island 2% Westchester 2%#15Best-In-Class Portfolio Sector-leading demographics produce a strong demand profile for the portfolio 100% 75% 50% 25% 0% 200 150 100 50 0 74% CUBE CUBE % of Assets in Top 25 MSAs¹ 15 CUBESMART 68% PSA Average 3-mile Population (000's)² 62% PSA EXR EXR 55% LSI LSI $84 $80 $76 $72 Focus on expanding our presence in strong demographic markets continues to enhance the quality of the portfolio 1. Source: Bank of America Merrill Lynch Research Report dated January 9, 2019 2. Source: Evercore ISI Research Report dated November 13, 2019 Median Houshold Incomes (000's)² CUBE PSA EXR LSI#16Industry Leading Concentration in New York City New York City is the most attractive storage market in the United States Brooklyn 14 properties Bronx 14 properties Queens 15 properties Manhattan 1 property Staten Island 1 property 16 CUBESMART Strong Demographics High population density creates a strong demand profile around our stores 3-mile Population¹ (000's) 1,000 800 600 400 200 NYC Other High Population of Renters 1. Source: CubeSmart 3-mile portfolio demographics 2. CubeSmart internal market research, Self-Storage Almanac Renters boost demand as they are 3.9x more likely to move than homeowners 100% 75% 50% 25% 0% % Renter Occ.¹ NYC Other Low Existing Supply NYC square foot per capita is substantially lower than the industry average 2 Supply - SF per Capita² 10.0 8.0 6.0 4.0 2.0 NYC Other Low existing supply and strong demand drivers have generated the highest rental rates in the country#17Limitations on Future Supply in NYC Boroughs Recent ICAP & IBZ restrictions make it extremely difficult to develop storage in NYC IBZ Restrictions New ICAP Restrictions ● ● ● ● ● In 2017, NYC passed a zoning amendment that required a special permit for self-storage to be built in the Industrial Business Zones (IBZs) The IBZs reduced the land that was previously zoned by- right for storage by 49% ¹ NYC recently excluded all self-storage development from eligibility under the Industrial & Commercial Abatement Program (ICAP) for all new projects that didn't have final permits as of July 1st 2020 (ICAP remains available for all other product types) The ICAP provides property tax abatements from 10-25 years on the value of all improvements These abatements are critical for attractive returns on development in the boroughs given high land cost 17 CUBESMART 1. Source: New York City Department of City Planning CUBESMART OFFICE CUBESMART NOW FIRST RENTING MONTH FREE!#18Disciplined Investment Strategy Growth strategy focused on markets with strong demographics and long-term value 5-Year Activity Acquisitions¹ 88 Properties $1.6 Billion Development¹ 18 Properties $589.4 Million Joint Venture Acquisitions¹,2 79 Properties $599.6 Million Third Party Management ¹,3 Grew platform by: 496 Stores 18 CUBESMART Operating Property Acquisitions Focus on markets with strong demographics to drive long- term value Development Build and acquire Class-A properties in core infill locations by leveraging local developer expertise Joint Ventures Invest with partners to expand national footprint and improve returns for lease-up opportunities Third-Party Management Expand scale of platform, generate fee revenue and build industry relationships 1. For the period January 1, 2016 through December 31, 2020 2. Valuation at 100% of venture acquisition price 3. Net increase in stores under management between January 1, 2016 through December 31, 2020#19Development Program Creates Upside Targeted investments in core markets will generate long-term value Completed $710 million of new development in top markets¹ New York City Dallas, TX Washington D.C. Chicago, IL ARESM 12 Projects $516 million South Florida QUICHARY 2 Projects $27 million 19 CUBESMART 3 Projects $37 million Northern NJ CUBESMART self storage 1 Project $25 million Current Pipeline¹ 2 Projects $45 million San Diego, CA CUBESMART self storage 1 Project $19 million 6 Add'l Projects 2 Projects $23 million 1. As of December 31, 2020 2. Proforma based on stabilized NOI projections and current market cap rates Boston, MA 1 Project $18 million $71.6 million Funded to Date Our development projects are projected to create over $340 million in value at stabilization² $143.8 million Total Investment#20Value Creation: JV Partners Significant investment with joint venture partners has expanded the portfolio Joint Venture Advantages Strong returns through levered structures and promotes Opportunity to purchase assets at the end of the hold period Fee revenue increases our return profile Market and cash flow diversification Mitigates dilution of lease-up properties 20 CUBESMART 83 Properties in 4 Ventures HHF 35 properties $315.7 million Total CUBE Ownership: 50% Total Investment: $800 million HVP IV 21 properties $261.3 million Total CUBE Ownership: 20% HHFNE 13 properties $87.5 million Total CUBE Ownership: 10% CUBE Investment: $193 million HVPSE 14 properties $135.3 million Total CUBE Ownership: 10%#21Strategic Success: HVP III Venture Significant value creation for both partners as we unwound the HVP III Venture Nashville (2) Atlanta (1) 21 CUBESMART Charlotte (1) Acquisition Portfolio (18) Sale Portfolio (50) Charleston (7) Boston (7) ● ● HVP III Joint Venture Formed in 2015 seeded through two portfolio acquisitions Initial Venture Investment Properties 68 ● Our participation as a 10% owner in venture accomplished a number of strategic goals: Expanded relationship with our JV partner Participated in portfolios with a mix of assets Boosted returns through fee income Shared in value creation through promoted returns Acquired stores that fit our investment criteria ● ● ● 2019 Exit Valuation ● $358.0 million $455.0 million In 2019, the venture sold 50 of the assets unlocking our promoted interest • We reinvested our proceeds at an attractive all- in yield, purchasing our partner's interest in 18 stores that best fit our strategy#22Mutually Beneficial Value Creation Third-party management generates additional value from our platform 723 stores on the platform¹ $27M management fees² $1.4B acquisitions from platform³ 22 CUBESMART Increased Scale CubeSmart management has grown to the second largest national management platform4 as we continue to expand our national footprint and brand while increasing efficiency Profitability Fees from the management business contribute meaningfully to FFO growth Acquisition Pipeline The management platform serves as an acquisition pipeline for quality assets which allows us to leverage existing relationships and our experience operating the stores, resulting in lower investment risk 1. As of December 31, 2020 3. Since 2010 2. For the year ended December 31, 2020 4. Source: 2020 Self-Storage Almanac CubeSmart's national presence, superior technology and proven operational systems consistently drive customers to my property. -CubeSmart Management Partner#23Financial Strength Ensuring stability while funding growth Continue to operate with credit metrics at the conservative end of our investment grade rating, ensuring access to a variety of attractively priced capital 6.0x 5.0x 4.0x 3.0x 2.0x 1.0x 0.0x Net Debt to EBITDA¹: 5.3x 2016 2017 23 CUBESMART MOODY'S Baa2 2018 2019 2020 STANDARD BBB (Stable] & POOR'S (Stable] 100% 1. Source: Company Filings, as of December 31 of each stated year 2. Calculated as annual EBITDA/ Interest Expense 6.2x 6.0x 5.8x 5.6x 5.4x 5.2x 5.0x 80% 60% 40% 20% 0% Debt to Gross Assets¹: 41.0% 2016 Secured Debt Debt to Gross Assets 2017 2016 Unsecured Debt II 2018 2017 EBITDA Coverage ¹²: 5.5x 2019 2018 2020 Preferred Equity 2019 2020 CubeSmart's Baa2 senior unsecured rating reflects the REIT's good financial flexibility and modest use of leverage. - Moody's Investors Service#24Liquidity and Access to Capital to Grow Access to the full range of capital sources to fund limited near-term commitments Access to Capital Proven ability to access a variety of sources of capital, raising $4.4 billion since 2010 Capital Needs & Liquidity Ample liquidity to manage near-term capital needs Capital Needs: $116.3M through 2022 $44.2M of debt maturities¹ $72.2M of remaining development commitments¹ ● ● Existing Sources of Capital $631.6M of remaining capacity on revolving credit facility¹ Retained free cash flow 500,000 400,000 300,000 200,000 100,000 44,178 2021 24 CUBESMART 2022 332,242 2023 1. As of December 31, 2020 151,648 2024 300,000 2025 through eight unsecured note issuances • Credit Facility: $750 million revolving line of credit Bank Debt: raised $500 million in term loans (since repaid) Preferred Equity: raised $77.5 million through one preferred equity issuance (since redeemed) ● ● Debt Maturity Schedule¹ Common Equity: raised $1.5 billion in net proceeds Unsecured Senior Notes: raised $2.3 billion 338,200 2026 2027 Unsecured Debt ■Secured Debt 2028 404,300 2029 350,000 2030 450,000 2031#25Environmental Initiatives Focus on reducing the already low impact of our storage locations. | Əll High Efficiency Lighting Retrofit Since 2015, CubeSmart has completed lighting retrofits at 134 owned stores in 17 states and DC. These lighting 25 CUBESMART upgrades save approximately 150,000 kW of energy consumption annually. Solar Panel Installation Since 2016, CubeSmart has completed 42 solar projects at owned stores which generated 4,752 MWh of power in 2019. HVAC Upgrades Since 2014, CubeSmart has upgraded 808 low-efficiency R-22 HVAC units with Energy Star, high-efficiency R410 units at 251 owned stores. Energy Management Systems Since 2010, CubeSmart has installed 76 energy management systems at owned stores to monitor and control a store's energy usage which decreased electricity usage by 16.9% over the first 12 months. Paperless Leases & Recycling The paperless lease system has reduced paper usage by 82% since the roll-out in 2014. A company-wide computer and office equipment recycli program properly disposes of electronic waste. American Forests Global ReLeaf CubeSmart offers customers the option to opt into our "Plant a Tree" program. Since 2010, ~123,800 trees have been planted in reforestation projects, restoring approximately 619 acres.#26Social Initiatives Engaging with our customers, teammates and communities. 6 Investments in Our Teammates Com B SOMEONE ENCOURAGES MY DEVELOPMENT Establishment of programs designed to increase Teammate engagement, recognition and development Local Community Charities self storage Donated the use of over 1,200 storage cubes to charities local to our stores since 2017 6 CUBESMART GRIBONG AGRIBI Charitable Donations Match employee contributions to charitable organizations through our Gift Matching Program Community Volunteer Programs Teammates at our corporate office have volunteered over 2,000 hours since 2015 through our Day of Service Program#27Corporate Governance & Board Composition Strong, independent leadership to oversee strategic execution. Shareholder Rights Annual election of trustees Annual say-on-pay votes Single voting class of stock Shareholder right to call special meeting One of the highest governance ratings amongst our peers Experienced & Diverse Board of Trustees 27 CUBESMART Deep, Relevant Experience Real Estate Law Real Estate Development Real Estate Management REIT Advisory Separate position of Board Chair & Chief Executive Officer Regular executive sessions of independent trustees Annual Board & committee self-evaluations Marketing Logistics Financial Management M&A Risk Management Multi-unit Management 1. As of December 31, 2020 Board Practices 88% Independent 1 Trustee¹ < 5 Years Share ownership guidelines for executive officers and trustees Anti-hedging & anti-pledging policies Code of Business Conduct & Ethics for employees and trustees Risk oversight by Board & committees 4 Trustees¹ 5-10 Years 3 Trustees¹ > 10 Years 38% Female Trustees#282020 Highlights Executing on strategic objectives Organic Growth¹ 0.8% Revenue Growth 0.1% NOI Growth +2.4% Expense Growth 70.1% NOI Margin 28 CUBESMART External Growth² $735.9 million acquisitions Added 168 management contracts $45.9 million development openings 1. Same-store results for the year ending December 31, 2020 2. For the year ended December 31, 2020 Financing $450 million of 2.00% unsecured senior notes issued in Oct 2020 3.6 million shares issued under the ATM² CUBESMART self storage 800-800-1717#29CubeSmart: It's what's inside that counts. Sophisticated Operating Platform Maximizing property cash flows to generate long-term value through a continually evolving marketing, revenue management, and customer service platform Disciplined Capital Allocation An investment-grade balance sheet provides the strength and flexibility to access the full array of capital sources to finance growth opportunities High-Quality Portfolio Prudently building on our portfolio of high-quality assets with a disciplined growth strategy of investing in targeted markets to maximize risk-adjusted returns 29 CUBESMART nodar CUBESMA FORWA CUBESHARY MONTH FREE 600 8001717 C25 4.B#30Historical Company Data Same-Store Performance ¹ Revenue Growth NOI Growth YOY Occupancy Growth (BPS) Annual Avg. Occupancy External Growth #Acquired Properties Acquisition Value ($MM) # of Development Openings Cost of Development Openings ($MM) # of Disposed Properties Disposition Value ($MM) Trading & Valuation Metrics 2 Market Equity Value Total Market Capitalization² Total Gross Assets² P/FFO (Trailing)³ 4 FFO Payout Ratio Dividend Yield5 2010 0.3% 1.0% 0.6% 76.8% 12 $85.1 0 $0.0 16 $38.1 $965 $1,580 $1,793 18.7x 28.4% 1.5% 30 CUBESMART 2011 3.6% 5.7% 2.0% 78.8% 27 $467.1 0 $0.0 19 $45.2 2012 3.8% 6.0% 3.4% 82.6% 37 $432.3 0 $0.0 26 $60.0 $1,277 $2,049 $2,035 $3,073 $2,195 $2,504 16.4x 19.7x 44.6% 47.3% 2.7% 2.4% 2013 7.4% 9.3% 5.3% 88.4% 20 $189.8 0 $0.0 35 $126.4 1. Performance as reported for the same-store pool as it was constituted at the end of the respective year 2. Year-ending values as detailed in Company's supplemental packages 2014 7.2% 9.6% 2.6% 90.8% $2,335 $3,752 $3,474 $4,926 $2,757 $3,278 17.5% 20.4% 50.5% 50.9% 2.9% 2.5% 4. Calculated as annual common distributions per share / funds from operations per share, as adjusted 5. Calculated as annual dividend per share / ending common share price 53 $568.2 2 $42.3 0 $0.0 2015 7.3% 9.6% 1.5% 92.3% 29 $292.4 3 $49.3 8 $37.8 2016 7.0% 10.2% 0.8% 92.9% 28 $403.6 2 $64.0 0 $0.0 $5,496 $4,875 $6,758 $6,471 $3,709 $4,146 24.5x 18.6x 55.2% 62.5% 2.7% 3.4% 2017 2018 4.4% 3.3% 5.1% 3.3% 0.2% (0.2%) 93.1% 92.7% 7 $80.7 4 $168.0 0 $0.0 10 $227.5 1 $92.1 2 $17.5 3. Calculated as ending common share price / funds from operations per share, as adjusted. Please refer to CubeSmart's public filings for a detailed explanation of FFO and how it reconciles to a GAAP measure $5,324 $5,425 $6,659 $7,172 $4,298 $4,615 18.2x 17.5x 69.8% 74.4% 3.8% 4.3% 2019 1.9% 1.1% 0.0% 92.4% 29 $246.6 3 $90.6 1 $4.1 $6,155 $8,087 $4,955 18.6x 76.3% 4.1% 2020 0.8% 0.1% 2.2% 93.2% 21 $735.9 1 $45.9 1 $12.8 $6,884 $9,249 $5,762 19.5x 72.3% 4.1%#31CUBESMART ✓ Telephone NOW PEN Contact Us Contact Info Josh Schutzer Senior Director, Finance [email protected] Phone: 610.535.5700 31 CUBESMART PARKING self storage CUBESMART CUBESMART storage: 800-800-1717 CUBESMARI