EX-99.1 2 cube-20250908xex99d1.htm EX-99.1
Exhibit 99.1

| September 2025 Investor Presentation self storage ®

| Safe 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, including Net Operating Income [NOi]. Funds From Operations [FFO]. and Funds From Operations, as adjusted [FFO, as adjusted]. 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 annual report on Form 10-K and quarterly reports on Form 10-Q, and described from time to time in the Company's filings with the SEC . ® CuBE5MART·

| 1. Period ended December 31, 2024 2. As of June 30, 2025 3. Market value of common equity and book value of debt as of June 30, 2025 4. Annual dividends declared for period ended December 31, 2024 CubeSmart: A Co mpe llin g Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance Introduction to CubeSmart A high-quality portfolio in an attractive industry with proven returns ® CuBE5MART· 3

| CubeSmart: A Co mpe llin g Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance Why CubeSmart? A company built to perform throughout all phases of the cycle Attractive Industry Well-diversified demand characteristics create strong ind us try fundamentals High Quality Portfolio Growing the platform through high-quality investments creating industry-leading portfolio demographics Operational Excellence Sophisticated operating platform drives efficiencies and meets evolving customer needs Cash Flow Generation Disciplined investment strategy in best-in-class assets paired with a conservative balance sheet generates stable cash flows Experienced Leadership Team Extensive self-storage and publicly traded REIT background with a successful track record of operating through various macroeconomic environments ® CuBE5MART·

| CubeSmart: A Co mpe llin g Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance Experienced Management Team Strong track record of creating shareholder value and driving performance Christopher Marr President & Tim Martin Chief Financial Chief Executive Officer Officer ® CuBE5MART· Guy Middlebrooks Executive Vice President, Operations Jeffrey Foster Chief Legal Officer Jen Schulte Chief Human Resources Officer Amy Cross Executive Vice President, IT, Data Science & Marketing Average Executive Officer Tenure 14 15 17 Years with CubeSmart Years in Self-Storage Years at publicly-traded REITs

| ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ CubeSmart: A Co mpe llin g Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance Strong Corporate Governance Supporting the long-term interests of all shareholders Board Practices The Board is composed of nine Trustees, including eight independent Trustees Separate Board Chair & Chief Executive Officer Regular executive sessions of independent Trustees Annual Board & Committee self-evaluations Share ownership guidelines for Executive Officers and Trustees Anti-hedging and anti-pledging policies Code of Business Conduct & Ethics for employees and Trustees Risk oversight by Board and Committees Wide range of relevant experience and qualifications among Trustees Shareholder Rights Annual election of Trustees Annual say-on-pay votes Sing le voting class of stock Shareholder right to call special meeting ~-----------------------------------------------------------------------------------------------------------------J Governance Rating Consistently Among Best in REIT Sector ISS Corporate Governance Rating of 2, placing the Company in the top 20% of all publicly traded companies in terms of good corporate governance

| CubeSmart: A Co mpe llin g Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance A History of Growth Consistent execution on strategic objectives --------------------- --------------------- --------------------- --------------------- --------------------- --------------------- U•STORE•IT ®CUBE5MART ~i(IJiL!BI I ~ Storage West HEITMA fv1a~mertf Acquired 22-store Acquired 59-store Acquired remaining U-Store-lt Acquired United Stor- Storage Deluxe Storage West portfolio 80% interest in initial public All to establish the portfolio located Opened 1,000th in major southwest 28-store HVP IV offering third-party primarily in NYC for CubeSmart markets for $1 .7 joint venture for management program $560 million location billion $452.8 million 2004 2010 2011 2018 2021 2025 2024 Arrival of current Rebranded the Issued debut Launched fully online Acquired 85% management company as investment-grade rental platform, interest in 14-store team CubeSmart unsecured senior SmartRental portfolio in Dallas !WELCOM§ notes for $157.3 million p~~ [f] 8 @ CuBESNwrr· Hines ~--------------------- ~--------------------- ~--------------------- ~--------------------- ~--------------------- ® CuBE5MART· 7

| CubeSmart: A Co mpe llin g Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance Quality-Driven Value Creation Strategy Focus on quality throughout the platform Quality Platform Sophisticated, fully integrated platform focused on providing flexible and efficient service delivery to maximize property cash flows over the long term Quality Portfolio Disciplined investment strategy to grow our nationwide portfolio of best-in-class assets in core markets with strong demographics and demand profiles Quality Balance Sheet Investment-grade balance sheet provides flexibility to access a full array of capital sources to finance growth opportunities Quality Company Continued focus on corporate responsibility and risk management to ensure sustainable long-term growth ® CuBE5MART·

| 1. Period ended December 31, 2024 Source: S&P Global Capital IQ, storage REIT straight average total return for CUBE, PSA, & EXR CubeSmart: A Compelling Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance Attractive Industry Dynamics Strong sector fundamentals generate outsized long-term returns 600% 500% 400% 300% 200% 100% 0% Self-Storage REIT Average Return vs RMZ1 547% 103% 50% 5-Year 10-Year 15-Year ■ Storage REITs ■ RMZ Index

| CubeSmart: A Compelling Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Pt· ormance Industry Backdrop Current industry backdrop sets the stage for long-term future growth Fragmentation Fragmented ownership creates further opportunity for external growth and consolidation New Supply Development headwinds will reduce new deliveries, creating a tailwind for operational performance Long-Term Cash Flow Stability Proven track record of cash flow growth across cycles Housing Market ® CuBE5MART· 30-year low existing home sales are a current headwind to the seasonal segment of demand , but represents pent-up demand when trends normalize

| 1. For the three months ended June 30, 2025 2. Map reflects portfolio as of June 30, 2025 CubeSmart: A Compelling Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance Diversified Portfolio in Quality Markets National platform focused in core markets drives long-term value ■ States with Owned Stores ■ States with Managed Stores Only ® CuBE5MART· Primary Markets Owned portfolio predominantly concentrated in core markets with strong demographics 91% Owned NOi from o top-40 MSAs 1 National Scale Exposure to secondary and tertiary markets through third-party management and joint ventures further diversifies the portfolio and leverages the operating platform 191 Markets 42 States [& Washington DC] 11

| 1. Source: Evercore ISI Research Report dated March 20, 2025 2. Total owned portfolio NOI for the three months ended June 30, 2025, market ranking by population per US Census Bureau CubeSmart: A Compelling Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance Industry-Leading Demographics Generate Long-Term Value Quality market focus creates a strong demand backdrop and cash flow stability Strong Demographics A strategic focus on submarkets with attractive demographics for stable, long-term demand trends Mature Markets Larger core markets support more stable demand trends throughout the economic cycle % of Owned Store NOl 2 100% 80% 75% 50% 41% 25% 0% 91% Top 5 Markets Top 25 Markets Top 40 Markets 200 150 100 50 0 Avg 3-Mile Population Density (000's) 1 CUBE PSA EXR NSA 105 95 85 75 65 Avg 3-Mile Median Household Income (000's) 1 CUBE PSA EXR NSA 12

| 1. Total portfolio NOI for the three months ended June 30, 2025 2. Source: CubeSmart internal market research 3. Source: 2025 Self-Storage Almanac CubeSmart: A Compelling Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance New York City Market Leader Competitive advantage in the largest market is a key component of our long-term strategy Best-In Class Portfolio Our NYC stores make up the largest portfolio of purpose-built, Class-A properties in the outer boroughs that create vibrant billboards for our brand Portfolio Composition1 All Other Markets ® CuBE5MART· Unique Submarkets Each borough features a robust local economy with its own unique, stable demand drivers Lowest Supplied Market Supply across the three key outer boroughs is 2.6 SF per capita2, the lowest nationally and less than half the national average of 7.8 SF per ca pita3. Supply pipeline is waning due to recent legislative changes removing self-storage eligibility for the ICAP tax incentive program Manhattan r .., ... Brooklyn Staten Island • e Owned e Managed • 13

| CubeSmart: A Compelling Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance Sophisticated Operating Platform Drives Efficiencies Foundation of propriety solutions creates flexibility for the future Technological Platform Sophisticated foundational systems provide scalability for a fully-integrated experience across platforms Customer Capture Attract the greatest share of demand across all channels through cutting-edge strategies Dynamic Pricing Maximize revenue through real-time pricing decisions that balance occupancy and rate Service-Oriented Model Provide award-winning customer service to meet the many needs of our customers across all touch points, no matter how they prefer to interact with us Ongoing Optimization Continually test new strategies to evolve and capture further efficiencies ® CuBE5MART·

| 1. Data for full year ended December 31, 2024 CubeSmart: A Compelling Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance Optimization Throughout the Customer Journey Thoughtful enhancements across all touch points for a fully integrated experience ---------------------------------------- Research Paid Search Bid on -2+ million keywords Brand Marketing Further build brand awareness, making CUBE an operator of choice Social Media Innovative tactics to reach prospective customers Reservation e Website Interact with 22 million visitors annually1 e Sales Center Receive 921 k calls annually1 RateSmart Leverage demand & elasticity trends to generate optimal pricing Rental SmartRental -40% of customers rent through SmartRental In-Store Teammates Reduce friction throughout the rental process CAM Video Agents Providing personal interaction even in a remote environment Existing Customer CubeSmart Mobile App Enhanced customer interaction Rate Increases Maximize revenue through individually-optimized customer rate increases Digital Access Systems Smartphone gate access . . improves experience ---------------------------------------- Proprietary HIVE Point of Sale System Flexible platform to manage customer interactions across all channels Cloud-based Data Warehouse Utilize customer data to further optimize operations 15

| CubeSmart: A Compelling Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance Multi-Faceted External Growth Strategy Creates Long-Term Value Building our portfolio through strategic investment and growth High-Quality Acquisitions Target acquisitions of well positioned, quality assets in markets with strong demographics and demand trends Development & Lease-Up Build and acquire purpose-built properties in top markets to generate elevated growth over the long term ® CuBE5MART· Value-Add Joint Ventures Gene rate outsized returns, reduce risk and enhance further diversification through acquisitions with partners Third-Party Management Drive mutually-beneficial value creation by building additional scale and cash flow from our platform 16

| 1. As of June 30, 2025 CubeSmart: A Compelling Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance Robust Portfolio Growth Strategically increasing the size of the platform 1800 1600 1400 1200 1000 800 600 400 200 0 1,532 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20251 ■ Wholly-Owned ■ Joint Venture Managed Multi-faceted growth strategy, leveraging all avenues to enhance scale and efficiencies 233% I n crease i n stores on the platform since 2010 823k Customers across the portfolio, a 632k increase from 2010 17

| 1. As of June 30, 2025 2. Since 2010 CubeSmart: A Compelling Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance Accretive Acquisitions Create Long-Term Value Disciplined investment strategy to prudently build our portfolio $6.lB Consolidated acquisitions since 2010 $2.lB Acquisitions from th i rd - pa rty management 1 76% Acquisitions in top-25 MSAs2 ® CuBE5MART· Strong Demographics Focus on submarkets with attractive demographics and strong long-term demand characteristics Complement Existing Portfolio Continue to identify opportunities to improve coverage across core markets Platform Value-Add Placing new properties on the CubeSmart platform generates multi-year yield expansion Strategic Lease-up Opportunities Acquire properties in lease-up to generate elevated returns :--- -_,.. . aL h'RJ --

| 1. Unconsolidated joint ventures as of June 30, 2025. Excludes two unconsolidated joint ventures acquired as a part of the Storage West transaction. CubeSmart: A Compelling Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance Strategic Joint Ventures Complement our Growth Strateg~ Opportunistic investment with partners adds value to our portfolio strategy $900M Acquired in joint ventures 1 47 Prop e rt i es i n existing ventures 1 46 Properties acquired from JVs upon exit ® CuBE5MART· Strong Returns Fee revenue and promoted interests increase our return profile for transactions Investment Diversification Further diversifying cash flow and exposure to markets outside of core acquisition strategy Opportunistic Unstabilized Acquisitions Spread investment capital across additional transactions through a minority investment while mitigating dilution through fees Acquisition Opportunities Build a network of partners to share industry insights and trends

| 1. Development deliveries as of June 30, 2025 (does not include C/O acquisitions) 2. As of June 30, 2025 CubeSmart: A Compelling Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance Targeted Development Creates Long-Term Value Enhancing our portfolio in select markets with flagship properties $746M New development delivered 1 $37M Projects in the pipeline2 100% Development in top-10 MSAs ® CuBE5MART· Partner with Local Developers Work with developers that have local market expertise and can source high-quality sites Focus on Top Markets Target projects in irreplicable infill locations that generate attractive long-term risk-adjusted returns Operational Expertise Leverage CubeSmart' s operating platform to optimally design and efficiently lease up new stores Refresh Portfolio Enhance the quality of our existing portfolio through purpose-built, trophy assets that showcase our brand

| 1. As of June 30, 2025 2. For the year ended December 31, 2024 CubeSmart: A Compelling Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance Third Party Management Generates Additional Growth Mutually beneficial relationships create long-term value for our shareholders 878 Properties 1 $41M Management fee revenue2 250+ Relationships ® CuBE5MART· Enhanced Profitability Creates additional revenue streams through management, tenant insurance, and other fees Additional Scale Expands our national footprint and brand, increasing operational efficiencies Acquisition Pipeline Opportunity for relationship-driven transactions while utilizing our knowledge of the assets to reduce underwriting risk Industry Relationships Build a network of industry partners to share insights and trends

| ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ Minneapolis Phoenix Dallas Austin Houston Jacksonville Tampa Philadelphia Atlanta DC Suburbs Stamford Hartford Chicago Naples 1. Average portfolio occupancy at the time of acquisition CubeSmart: A Compelling Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance Highlighting Successful Execution: HVP IV Venture Recognizing significant value creation through strategic investment in newly-developed stores - Square Footage 28 1,710,248 Avg Occupancy1 91 .1 % Avg Year Built 2017 We acquired our partner· s 80% interest in the venture in February 2025 for $452.SM, which included $44.4M to repay our share of the venture·s existing debt This transaction represents the successful culmination of a seven-year strategy, creating value for both partners The diversified portfolio is comprised of recent vintage stores in our target investment markets HVP IV Venture Highlights: JV was focused on acquiring non-stabilized, early stage lease-up stores Over time, the JV acquired 28 stores predominately in top-30 MSAs JV structure minimized earnings dilution for CUBE during lease-up Promoted returns on our minority interest created an attractive investment basis as we now own 100% of this portfolio 22

| 1. As of June 30, 2025 2. As of June 30, 2025 pro forma to include senior unsecured bond offering on 8/20/2025 CubeSmart: A Compelling Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance Disciplined Balance Sheet Strategy Ensuring stability while funding growth 25.6% Total Debt/ Enterprise Value 1 7.1x Fixed Charge Coverage Ratio 1 $850.0M Revolving Line of Credit 1 4.6years Weighted Average Maturity2 Debt Maturity Schedule2 (OOO's} 600,000 400,000 200,000 2025 342,171 2026 2027 550,000 2028 2029 2030 2031 2032 8.86% Weighted Average Interest Rate2 450,000 2033 2034 2035 ■ Secured Debt ■ Unsecured Debt ■ Unsecured Revolving Credit Facility Investment-grade balance sheet, with well-staggered maturities and conservative leverage levels, provides access to a full range of attractively-priced capital sources to fund our growth BBB/Baa2 S&P/Moody's Investment-grade credit rating $3.2B Capital raised over the last five years2 23

| ▪ ▪ ▪ ▪ ▪ 1. Year-to-date as of June 30, 2025 2. Outlook last updated as of our earnings release dated July 31, 2025 CubeSmart: A Compelling Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance 2025 Financial Highlights Year-to-date Results1 (0.4)% Same-Store Revenue Growth 0.9% Same-Store Expense Growth (0.9)% Same-Store NOi Growth $452.SM Buyout of pa rtner·s remaining 80% interest in HVP IV JV 68 Stores added to the management platform $0.65 2q25 FFO per Share, as Adjusted -----------------------------------~ 2025 Highlights Acquired the remaining 80% interest in the HVP IV unconsolidated joint venture for $452.SM, including $44.4M to repay the Company's portion of the venture·s indebtedness Two joint venture development properties remain under construction as of June 30, with a total anticipated investment of $36.9M Added 63 stores to the third-party management platform, with 873 stores under management as of June 30th Paid a quarterly dividend of $0.52 per common share On August 20th issued $450.0 million senior unsecured notes with an interest rate of 5.125% due in 2035 ~----------------------------------~ Full-Year Outlook2 (1.25%) to (0.25)% Same-store revenue growth 1.50% to 8.00% Same-store expense growth (2. 75%) to (1.25%) Same-store NOi growth $2.54 to $2.60 FFO, as adjusted, per share 24

| 1. Results for the 2025 same-store pool CubeSmart: A Compelling Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance Same-Store Operational Update 30,000 25,000 20,000 15,000 10,000 5,000 0 Same-Store Rentals1 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec ■ 2024 ■ 2025 25,000 20,000 15,000 10,000 5,000 Same-Store Vacates1 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec ■ 2024 ■ 2025 Same-Store Occupancy1 93.0% 92.0% 91.0% 90.0% 89.0% 88.0% Jan Feb Mar Apr May Jun Jul -2024 - 2025 89.9% -80 bps YOY Aug Sep Oct Nov Dec 25

| 1. Represents average annual FFO, as adjusted, per share growth for the one-, two-, and three-year periods ended December 31, 2024. Peer group is comprised of EXR, PSA, and NSA. CubeSmart: A Compelling Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance Consistent Earnings Outperformance FFO per share growth above the peer average over the past three years 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% -2.0% -4.0% -6.0% FFO, as adjusted, Per Share Growth vs Peer Average1 2022-2024 8.0% 2.0% -1.9% -1.7% -3.5% One-Year Two-Year Three-Year ■ CUBE ■ Peer Average Consistent outperformance driven by: Sophisticated Operating Platform Maximizing revenue through innovative & efficient execution Expense Control Sector-leading same-store expense control, 300 bps lower than the peer average Disciplined Capital Allocation Focus on long-term value creation Conservative Balance Sheet Strategy Cash flow stability throughout the cycle 26

| CubeSmart: A Compelling Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance Long-Term Cash Flow Growth A consistent history of sharing our growth with our shareholders FFO, as adjusted, per share Annual Dividend per Share $3.00 +144% $2.50 +273% $2.50 $2.00 $2.00 $1.50 $1.50 $1.00 $1 .00 $0.50 $0.50 $0.00 $- 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Fifteen consecutive years of dividend increases, the longest active streak among storage REITs 27

| 1. Market cap weighted total shareholder return for PSA and EXR as of December 31, 2024 CubeSmart: A Compelling Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance Creating Long-Term Shareholder Value Generating outperformance over the long term 10-Year Total Shareholder Return vs. Peer Average 300% 250% 200% 150% 100% 50% 0% Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 1 - CUBE -Storage Peer Avg Dec-21 Dec-22 Dec-23 +182% +168% Dec-24 @ CuBESNIARr· 28

| Why CubeSmart? A company built to perform throughout all phases of the cycle Attractive Industry Well-diversified demand characteristics create strong ind us try fundamentals High Quality Portfolio Growing the platform through high-quality investments creating industry-leading portfolio demographics Operational Excellence Sophisticated operating platform drives efficiencies and meets evolving customer needs Cash Flow Generation Disciplined investment strategy in best-in-class assets paired with a conservative balance sheet generates stable cash flows Experienced Leadership Team Extensive self-storage and publicly traded REIT background with a successful track record of operating through various macroeconomic environments ® CuBE5MART·