08 November 2023

This announcement is made in replacement of the "Directors/PDMR Shareholding" announcement released on 14 July 2023 (RNS Number 0525G). In the original announcement, the disclosed 2020 LTIP Award grants for Frederic Vecchioli and Andy Jones showed incorrect volumes and have been corrected below.

Safestore Holdings plc (the "Company")

Grant of Awards under the Safestore 2020 Long Term Incentive Plan

Notification of Transactions by Persons Discharging Managerial Responsibility ("PDMRs")

The Company announces that awards have been granted under the Safestore 2020 Long Term Incentive Plan ("2020 LTIP"), approved by shareholders at its Annual General Meeting held on 18 March 2020 and as amended at the General Meeting on 12 July 2023.

The Company has been notified of the following transactions in the Company's Ordinary Shares of 1p each undertaken by directors / persons discharging managerial responsibility ("PDMRs") on 12 July 2023 in accordance with the rules of the 2020 LTIP (as amended).

No consideration was paid for the grant of the LTIP Awards which are structured as nil cost options. The number of Ordinary Shares granted under each LTIP Award has been calculated using an Ordinary Share price of 837.5 pence per share, being the closing share price on the dealing day immediately before the date of grant.

The normal vesting date of the LTIP Awards will be 12 July 2026, being the third anniversary of the award date. Once vested, the LTIP Award will normally be exercisable until the day before the tenth anniversary of the award date.  The LTIP Awards are subject to a two-year holding period commencing on vesting.

The LTIP Awards incorporate a base award, a relative TSR multiplier, and an absolute and relative TSR performance modifier. The number of Ordinary Shares under the LTIP Award will normally vest after 3 years based on the satisfaction of performance conditions which are measured over a 3 year period.  The base award is subject to the satisfaction of the following performance targets:

i.          65% (sixty-five per cent) based on the Company's adjusted diluted EPRA EPS growth;

ii.         25% (twenty-five per cent) based on strategic/operational measures (growth in Maximum Lettable Area ("MLA")); and

iii.        10% (ten per cent) based on the Company's performance against ESG targets.

The relevant notifications set out below are provided in accordance with the requirements of Article 19 of the UK version of the EU Market Abuse Regulation which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons close associated with them.

Enquiries:

Safestore Holdings plc

David Orr, Company Secretary                                             Tel: 020 8732 1500