28 September 2023

Safestore Holdings plc

("Safestore" or the "Company")

Directorate change

CFO Retirement

Safestore Holdings today announces that Andy Jones has notified the Board of his intention to retire from his role as Chief Financial Officer and as a director of the Company. Andy will continue in his role until the transition to his successor is complete.

The Company will be commencing an external search for Andy's replacement.

Andy joined Safestore in May 2013. For over ten years, he has been instrumental in helping deliver the Company's strategy, significantly expanding its store portfolio and entering four additional geographies. During his career with Safestore, he has overseen a period of sector leading growth and shareholder returns, with revenue increasing by 120%, EPS by 330% and market capitalization by 575%.

Frederic Vecchioli, Safestore's Chief Executive Officer, said:

"I and the Board of Safestore would like to sincerely thank Andy for his exceptional contribution and commitment to Safestore over the last ten years. He has been an excellent and trusted support to me and instrumental in delivering the market leading progress of the business in that time. I wish him well in his retirement."

Andy Jones, Chief Financial Officer added:

"It has been a privilege to be part of Safestore's progress since 2013. Safestore is an outstanding Company with a fantastic team and an exciting future ahead. I will be staying with the business until the transition to my successor is complete, and I look forward to watching the business continue to grow over the years ahead."

Enquiries

Notes to Editors

·      Safestore is the UK's largest self-storage group with 187 stores on 31 July 2023, comprising 132 wholly owned stores in the UK (including 72 in London and the South East with the remainder in key metropolitan areas such as Manchester, Birmingham, Glasgow, Edinburgh, Liverpool, Sheffield, Leeds, Newcastle, and Bristol), 29 wholly owned stores in the Paris region, 10 stores in Spain, 10 stores in the Netherlands and 6 stores in Belgium. In addition, the Group operates 7 stores in Germany under a Joint Venture agreement with Carlyle.

·      Safestore operates more self-storage sites inside the M25 and in central Paris than any competitor providing more proximity to customers in the wealthiest and more densely populated UK and French markets.

·      Safestore was founded in the UK in 1998. It acquired the French business "Une Pièce en Plus" ("UPP") in 2004 which was founded in 1998 by the current Safestore Group CEO Frederic Vecchioli.

·      Safestore has been listed on the London Stock Exchange since 2007. It entered the FTSE 250 index in October 2015.

·      The Group provides storage to around 90,000 personal and business customers.

·      As of 31 July 2023, Safestore had a maximum lettable area ("MLA") of 8.080 million sq ft (excluding the expansion pipeline stores) of which 6.389 million sq ft was occupied.

·      Safestore employs around 750 people in the UK, Paris, Spain, the Netherlands, and Belgium.