The Board of Directors of Life Storage, Inc. (NYSE:LSI), a leading national owner and operator of self-storage properties, announced today the Company's quarterly dividend of $0.74 per share of common stock. The annualized dividend of Life Storage, Inc. is $2.96 per share that, based on yesterday's closing share price, equates to an annual rate of approximately 2.8%. The dividend will be paid on July 26, 2021 to Shareholders of record on July 14, 2021.

ABOUT LIFE STORAGE, INC:

Life Storage, Inc. is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self-storage facilities. Located in Buffalo, New York, the Company operates more than 950 storage facilities in 33 states. The Company serves both residential and commercial storage customers with storage units rented by month. Life Storage consistently provides responsive service to its 500,000-plus customers, making it a leader in the industry. For more information visit http://invest.lifestorage.com/.

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Life Storage, Inc. Announces Dividend on Common Stock