Investor Presentaiton

6 Updated Net Asset Value Per Share SmartStop Self Storage REIT, Inc. ...The Smarter Way to Store! • Declared Net Asset Value ("NAV") of $15.21/share as of September 30, 2022 Represents an increase of approximately 1% from previous declared NAV as of June 30, 2021 Valuation range between $14.15 - $16.38 Independent, 3rd Party Valuation by Robert A. Stanger & Co, Inc. Asset-by-Asset valuation of Real Estate (no portfolio premium) In accordance with IPA NAV Guideline See our Form 8-K filed with the SEC on December 6, 2022 for a description of the methodologies and assumptions used to determine, and limitations of, the estimated value per share SmartStop Self Storage REIT, Inc. ...The Smarter Way to Store!® Jan 2014 Apr 2016 Apr 2017 Apr 2018 Jun 2019 Apr 2020 Oct 2021 Dec 2022 $10.00 (1) $10.09" (2) $10.22 (2) (2) (2) $10.65 $10.66 $10.40 (2) (2) (2) $15.08 $15.21 (1) Offering and customer account statement price. As applicable, all values shown reference class A shares. (2) The revised prices were in connection with the approvals by the board of directors of an estimated value per share based on the estimated value of its assets less the estimated value of its liabilities, or net asset value, divided by the number of shares outstanding on an adjusted fully diluted basis, calculated as of the prior year end, except as to the June 2019 value, which was calculated as of March 31, 2019, October 2021 value, which was calculated as of June 30, 2021, and December 2022 value, which was calculated as of September 30, 2022. See SmartStop's Form 8-Ks filed with the SEC on April 11, 2016, April 18, 2017, April 20, 2018, June 27, 2019, April 22, 2020, October 20, 2021 and December 6, 2022, respectively, for a description of the methodologies and assumptions used to determine, and the limitations of, the estimated value per share. Investor Presentation | 22

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