Form 8-K

8-K — CubeSmart

Accession: 0001298675-26-000030

Filed: 2026-06-01

Period: 2026-06-01

CIK: 0001298675

SIC: 6798 (REAL ESTATE INVESTMENT TRUSTS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — cube-20260601x8k.htm (Primary)

EX-99.1 (cube-20260601xex99d1.htm)

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8-K

8-K (Primary)

Filename: cube-20260601x8k.htm · Sequence: 1

CUBESMART_June 1, 2026

0001298675false8-K2026-06-015 Old Lancaster RoadMalvernPA19355610535-5000falsefalsefalsefalse0001300485false0001298675cube:CubesmartL.p.Member2026-06-012026-06-0100012986752026-06-012026-06-01

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT PURSUANT TO

SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): June 1, 2026

CUBESMART

CUBESMART, L.P.

(Exact Name of Registrant as Specified in Its Charter)

Maryland (CubeSmart)

001-32324

20-1024732

Delaware (CubeSmart, L.P.)

000-54462

34-1837021

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

5 Old Lancaster Road

Malvern,

Pennsylvania

19355

(Address of Principal

Executive Offices)

(610) 535-5000

(Registrant’s telephone number, including area code)

Not applicable

(Former Name or Former Address, if Changed Since Last Report)

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol(s)

Name of Each Exchange on Which Registered

Common Shares, $0.01 par value per share, of CubeSmart

CUBE

New York Stock Exchange

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).

Emerging Growth Company (CubeSmart) ☐

Emerging Growth Company (CubeSmart, L.P.) ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

CubeSmart ☐

CubeSmart, L.P. ☐

Item 2.02 Results of Operations and Financial Condition.

We are furnishing with this report a slide presentation (attached as Exhibit 99.1) that may be used in presentations to investors from time to time.

Item 7.01 Regulation FD Disclosure.

The information disclosed in Item 2.02 above is incorporated into this Item 7.01.

The information included in this Current Report on Form 8-K (including the exhibit hereto) is being furnished under Item 2.02, “Results of Operations and Financial Condition,” Item 7.01, “Regulation FD Disclosure” and Item 9.01 “Financial Statements and Exhibits” of Form 8-K. As such, the information (including the exhibit) herein shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be incorporated by reference into a filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such a filing. This Current Report (including the exhibit hereto) will not be deemed an admission as to the materiality of any information required to be disclosed solely to satisfy the requirements of Regulation FD.

Item 9.01 Financial Statements and Exhibits.

(a) Not applicable.

(b) Not applicable.

(d) Exhibits.

Exhibit No.

Description

99.1

Slide Presentation Dated June 2026

104

Cover Page Interactive Data File – the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CUBESMART

By:

/s/ Jeffrey P. Foster

Name:

Jeffrey P. Foster

Date: June 1, 2026

Title:

Chief Legal Officer and Secretary

CUBESMART, L.P.

By: CUBESMART, its general partner

By:

/s/ Jeffrey P. Foster

Name:

Jeffrey P. Foster

Date: June 1, 2026

Title:

Chief Legal Officer and Secretary

EX-99.1

Filename: cube-20260601xex99d1.htm · Sequence: 2

Exhibit 99.1

June 2026

Investor

Presentation

June 2026

Investor

Presentation

self storage

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.

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 .

Safe Harbor Statement

Use of Non -GAAP Financial Measures

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·

Introduction to CubeSmart

A high -quality portfolio in an attractive industry with proven returns

1. Period ended December 31, 2025

2. As of March 31, 2026

3. Market value of common equity and book value of debt as of March 31, 2026

4. Annual dividends declared for period ended December 31, 2025

1,287

Properties 1

$11.8B

Enterprise Value 3

31%

5- year total

shareholder

return 1

50%

5- year growth in

FFO, as adjusted,

per share 1

$2.6 B

5- year

acquisition

volume 1

57%

5- year dividend

growth4

1,516

Properties 2

48.5 M

Total owned

square feet 2

6.6%

5- year same -

store NOI CAGR 1

Baa2/

BBB

Credit Rating

CubeSmart: A Compelling Investment CubeSmart: A Co mpe llin g Investment | Built for Growth | Operations that Drive Performance | Targeted Investments | Strong Fundamentals, Consistent Performance 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

Why CubeSmart?

A company built to perform throughout all phases of the cycle

Attractive Industry

Well-diversified demand characteristics create strong industry 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

Why CubeSmart?

A company built to perform throughout all phases of the cycle

Attractive Industry

Well-diversified demand characteristics create strong industry 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·

Experienced Management Team

Strong track record of creating shareholder value and driving performance

Years with 15 CubeSmart

Years in 16 Self - Storage

Years at

publicly -

traded REITs

Christopher Marr

President &

Chief Executive Officer

Tim Martin

Chief Financial

Officer

Jeffrey Foster

Chief Legal

Officer

Jen Schulte

Chief Human Resources

Officer

Average

Management

Tenure

CubeSmart: A Compelling Investment | Built for Growth | Operations that Drive Performance | Targeted Investments | Strong Fundamentals, Consistent Performance

Guy Middlebrooks

Executive Vice

President, Operations

Amy Cross

Executive Vice President, IT,

Data Science & Marketing

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 &

Chief Executive Officer

Tim Martin

Chief Financial

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

Management

Tenure

Years with

CubeSmart

Years in

Self-Storage

Years at

publicly-traded REITs

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

CubeSmart: A Compelling Investment | Built for Growth | Operations that Drive Performance | Targeted Investments | Strong Fundamentals, Consistent Performance

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

Shareholder Rights

▪ Annual election of Trustees

▪ Annual say -on-pay votes

▪ Single voting class of stock

▪ Shareholder right to call special meeting

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

A History of Growth

Consistent execution on strategic objectives

U- Store -It

initial public

offering

2004 2010 2011 2018 2021 2025

Acquired United Stor -

All to establish the

third-party

management program

Acquired 22 -store

Storage Deluxe

portfolio located

primarily in NYC for

$560 million

Opened 1,000 th

CubeSmart

location

Acquired 59 -store

Storage West portfolio

in major southwest

markets for $1.7

billion

Acquired remaining

80% interest in

28-store HVP IV

joint venture for

$452.8 million

2006 2011 2012 2020 2024

Arrival of current

management

team

Rebranded the

company as

CubeSmart

Issued debut

investment - grade

unsecured senior

notes

Launched fully online

rental platform,

SmartRental

Acquired 85%

interest in 14 -store

portfolio in Dallas

for $157.3 million

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

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

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·

Attractive Industry Dynamics

Strong sector fundamentals generate outsized long -term returns

Dynamic Demand

Wide range of needs drives

demand for the product

throughout all economic cycles

Increasing Utilization

Newly identified sources of

demand have increased

utilization and product

awareness

High Margins

Low expense load & cap -ex

requirements drive more cash

flow to the bottom line

Short -Term Leases

Month-to-month leases allow

for rapid repricing in response

to changing economic

conditions

102%

692%

100%

200%

300%

400%

500%

600%

700%

800%

10-Year 15-Year

Self - Storage REIT Average Return vs RMZ 1

Storage REITs RMZ Index

1. Period ended December 31, 2025

2. Storage REIT straight average total return for CUBE, PSA, EXR & NSA

CubeSmart: A Compelling Investment | Built for Growth | Operations that Drive Performance | Targeted Investments | Strong Fundamentals, Consistent Performance

Source: S&P Global Capital IQ

3. Storage REIT straight average total return for CUBE, PSA & EXR

2 3

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

800%

700%

600%

500%

400%

300%

200%

100%

® CuBE5MART·

Self-Storage REIT Average Return vs RMZ1

692%

102%

10-Year 2 15-Year 3

■ Storage REITs ■ RMZ Index

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 are reducinig new deliveries, creating a tailwind for

operational performance

Long -Term Cash Flow Stability

Proven track record of cash flow growth across cycles

Housing Market

30- year low existing home sales are a current headwind to the seasonal

segment of demand, but represents pent -up demand when trends normalize

CubeSmart: A Compelling Investment CubeSmart: A Compelling Investment | I Built for Growth Built for Growth | Operations that Drive Performance | Targeted Investments | Strong Fundamentals, Consistent Performance 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 are reducinig 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

Diversified Portfolio in Quality Markets

National platform focused in core markets drives long -term value

Owned NOI from

top-40 MSAs 1

States with Managed Stores Only

States with Owned Stores

91%

197 Markets

41 States (& Washington DC)

National Scale

Exposure to secondary and tertiary

markets through third -party

management and joint ventures

further diversifies the portfolio and

leverages the operating platform

Primary Markets

Owned portfolio predominantly

concentrated in core markets with

strong demographics

CubeSmart: A Compelling Investment | Built for Growth | Operations that Drive Performance | Targeted Investments | Strong Fundamentals, Consistent Performance

1. For the three months ended March 31, 2026

2. Map reflects portfolio as of March 31, 2026

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

197 Markets

41 States [& Washington DC]

Industry - Leading Demographics Generate Long -Term Value

Quality market focus creates a strong demand backdrop and cash flow stability

1. Source: Evercore ISI Research Report dated March 19, 2026

2. Total owned portfolio NOI for the three months ended March 31, 2026, market ranking by population per US Census Bureau

100

150

200

CUBE PSA EXR NSA

Avg 3-Mile Population Density (000’s) 1

105

115

CUBE PSA EXR NSA

Avg 3-Mile Median Household Income (000’s) 1

40%

80%

91%

25%

50%

75%

100%

Top 5 Markets Top 25 Markets Top 40 Markets

% of Owned Store NOI Strong Demographics 2

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

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% 40%

25%

91%

Top 5 Markets Top 25 Markets Top 40 Markets

200

150

100

Avg 3-Mile Population Density (000's) 1

CUBE PSA EXR NSA

115

105

Avg 3-Mile Median Household Income (000's) 1

CUBE PSA EXR NSA

New York City Market Leader

Competitive advantage in the largest market is a key component of our long -term strategy

Lowest Supplied Market

Supply across the three key outer

boroughs is 2.8 SF per capita 2

, the

lowest nationally and less than

half the national average of 7.2 SF

per capita 3

. Supply pipeline is

waning due to recent legislative

changes removing self -storage

eligibility for the ICAP tax incentive

program

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

Unique Submarkets

Each borough features a robust

local economy with its own

unique, stable demand drivers

Portfolio Composition 1

1. Total portfolio NOI for the three months ended March 31, 2026

2. Source: CubeSmart internal market research

All Other

Markets

3. Source: 2026 Self-Storage Almanac

CubeSmart: A Compelling Investment | Built for Growth | Operations that Drive Performance | Targeted Investments | Strong Fundamentals, Consistent Performance

Brooklyn

Queens

Bronx

Manhattan

Staten Island

Owned

Managed

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

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 2.8 SF per capita2, the

lowest nationally and less than

half the national average of 7.2 SF

per ca pita3. Supply pipeline is

waning due to recent legislative

changes removing self-storage

eligibility for the ICAP tax incentive

program

Staten Island

•

Bronx

' . . •

Manhattan

• • • Queens

·-

••

• •

•

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 touchpoints, no matter how they prefer to interact with us

Ongoing Optimization

Continually test new strategies to evolve and capture further efficiencies

CubeSmart: A Compelling Investment CubeSmart: A Compelling Investment | Built for Growth | I Built for Growth I Operations that Drive Performance Operations that Drive Performance | Targeted Investments | Strong Fundamentals, Consistent 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·

Cloud -based Data Warehouse

Utilize customer data to further optimize operations

Proprietary HIVE Point of Sale System

Flexible platform to manage customer interactions across all channels

Optimization Throughout the Customer Journey

Thoughtful enhancements across all touchpoints for a fully integrated experience

Reservation Rental Existing Customer

Paid Search

Bid on ~2+ million

keywords

Brand Marketing

Further build brand

awareness, making CUBE

an operator of choice

AI Generative Search

Optimize web presence to

be a trusted source

across platforms

Website

Interact with 9 million

visitors annually 1

Sales Center

Receive 935k calls

annually 1

RateSmart

Leverage demand &

elasticity trends to

generate optimal pricing

SmartRental

~40% of customers rent

through SmartRental

In- Store Teammates

Provide high -level service

for customers looking for

an in -person experience

CAM Video Agents

Providing personal

interaction even in a

remote environment

CubeSmart Mobile App

Enhanced customer

interaction

Rate Increases

Enhance revenue through

optimized rate increases

Digital Access Systems

Smartphone gate access

improves experience

Research

1. Data for full year ended December 31, 2025

Optimization Throughout the Customer Journey

Thoughtful enhancements across all touchpoints 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

A Al Generative Search V Optimize web presence to

be a trusted source

across platforms

Reservation

e Website

Interact with 9 million

visitors annually1

e Sales Center

Receive 935k calls

annually1

RateSmart

Leverage demand &

elasticity trends to

generate optimal pricing

Rental

SmartRental

-40% of customers rent

through SmartRental

In-Store Teammates

Provide high-level service

for customers looking for . .

an in-person experience

CAM Video Agents

Providing personal

interaction even in a

remote environment

Existing Customer

CubeSmart Mobile App

Enhanced customer

interaction

Rate Increases

Enhance revenue through

optimized 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

3.1%

4.2%

3.5%

1.2%

2.5%

2.9%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

2025 3-Year Expense Growth Expense Growth since 2020

Average Same - Store Expense Growth 1

Sector Average CUBE

+190 bps better +170 bps better +60 bps better

16 1. One- and three-year average annual same-store expense growth as reported for years ended December 31, 2025, 2024, 2023. Sector average comprised of EXR, PSA and NSA

CubeSmart: A Compelling Investment | Built for Growth | Operations that Drive Performance | Targeted Investments | Strong Fundamentals, Consistent Performance

Sector -leading expense control against an inflationary backdrop

Focus on Efficient Operations

CubeSmart: A Compelling Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance

Focus on Efficient Operations

Sector-leading expense control against an inflationary backdrop

6.0% Average Same-Store Expense Growth 1

5.0% 190 bps better

4.0%

3.1%

3.0%

2.0%

1.2%

1.0%

0.0%

2025

170 bps better

4.2%

2.5%

3-Year Expense Growth

Sector Average ■ CUBE

60 bps better

2.9%

Expense Growth since 2020

Multi- Faceted External Growth Strategy Creates Long -Term Value

Building our portfolio through strategic investment and growth

Development & Lease -Up

Build and acquire purpose -

built properties in top

markets to generate elevated

growth over the long term

Third -Party Management

Drive mutually -beneficial

value creation by building

additional scale and cash

flow from our platform

High -Quality Acquisitions

Target acquisitions of well

positioned, quality assets in

markets with strong

demographics and demand

trends

CubeSmart: A Compelling Investment | Built for Growth | Operations that Drive Performance | Targeted Investments | Strong Fundamentals, Consistent Performance

Value -Add Joint Ventures

Generate outsized returns ,

reduce risk and enhance

further diversification

through acquisitions with

partners

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

Generate outsizedreturns,

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

Robust Portfolio Growth

Strategically increasing the size of the platform

Increase in stores

on the platform

since 2010

230%

Customers across

the portfolio, a

592k increase from

2010

783k

200

400

600

800

1000

1200

1400

1600

1800

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Wholly-Owned Joint Venture Managed

1,516

460

Multi-faceted growth

strategy, leveraging all

avenues to enhance

scale and efficiencies

1. As of March 31, 2026

CubeSmart: A Compelling Investment | Built for Growth | Operations that Drive Performance | Targeted Investments | Strong Fundamentals, Consistent Performance

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

1,516

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

■ Wholly-Owned ■ Joint Venture Managed

Multi-faceted growth

strategy, leveraging all

avenues to enhance

scale and efficiencies

230%

I n crease i n stores

on the platform

since 2010

783k

Customers across

the portfolio, a

592k increase from

2010

$6.2B

Consolidated

acquisitions

since 2010

$2.1B

Acquisitions

from third -party

management 1

82%

Acquisitions in

top-25 MSAs 1

Accretive Acquisitions Create Long -Term Value

Disciplined investment strategy to prudently build our portfolio

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

1. Since 2010, as of March 31, 2026

CubeSmart: A Compelling Investment CubeSmart: A Compelling Investment | Built for Growth | Operations that Drive Performance | I Built for Growth I Operations that Drive Performance I Targeted Investments Targeted Investments | Strong Fundamentals, Consistent Performance I Strong Fundamentals, Consistent Performance

Accretive Acquisitions Create Long-Term Value

Disciplined investment strategy to prudently build our portfolio

$6.2B

Consolidated

acquisitions

since 2010

$2.lB

Acquisitions

from th i rd - pa rty

management 1

82%

Acquisitions in

top-25 MSAs 1

® 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 --

Strategic Joint Ventures Complement our Growth Strategy

Opportunistic investment with partners adds value to our portfolio strategy

$914M

Acquired in joint

ventures 1

Properties in

existing ventures 1

Properties acquired

from JVs upon exit

Strong Returns

Fee revenue and promoted interests increase our return profile

for transactions

Investment Diversification

Further diversify 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. Unconsolidated joint ventures as of March 31, 2026. Excludes two unconsolidated joint ventures acquired as a part of the Storage West transaction.

Strategic Joint Ventures Complement our Growth StrategY,

Opportunistic investment with partners adds value to our portfolio strategy

$914M

Acquired in joint

ventures 1

Prop e rt i es i n

existing ventures 1

Properties acquired

from JVs upon exit

® CuBE5MART·

Strong Returns

Fee revenue and promoted interests increase our return profile

for transactions

Investment Diversification

Further diversify 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

Targeted Development Creates Long -Term Value

Enhancing our portfolio in select markets with flagship properties

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

$792M

New

development

delivered 1

$28M

Projects in the

pipeline 2

100%

Development in

top-10 MSAs

1. Development deliveries as of March 31, 2026 (does not include C/O acquisitions)

2. As of March 31, 2026

Targeted Development Creates Long-Term Value

Enhancing our portfolio in select markets with flagship properties

$792M

New

development

delivered 1

$28M

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

Third Party Management Generates Additional Growth

Mutually beneficial relationships create long -term value for our shareholders

854

Properties 1

$40M

Management

fee revenue 2

265+

Relationships

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

1. As of March 31, 2026

2. For the year ended December 31, 2025

Third Party Management Generates Additional Growth

Mutually beneficial relationships create long-term value for our shareholders

854

Properties 1

$40M

Management

fee revenue2

265+

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

Disciplined Balance Sheet Strategy

Ensuring stability while funding growth

340,678

415,100

550,000

404,300

350,000

450,000 500,000

450,000

200,000

400,000

600,000

2026 2027 2028 2029 2030 2031 2032 2033 2034 2035

Debt Maturity Schedule 1

(000’s)

Secured Debt Unsecured Debt Unsecured Revolving Credit Facility

4.9x

Net Debt/

EBITDA 1

6.4x

Fixed Charge

Coverage Ratio 1

$850.0 M

Revolving Line of

Credit 1

4.0 years

Weighted Average

Maturity1

87.9%

% Fixed Rate Debt 1

3.37%

Weighted Average

Interest Rate 1

Capital raised over

the last five years

$2.5B

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

$11.8B

Enterprise Value 1

29.2%

Total Debt/

Enterprise Value 1

S&P/Moody’s

Investment - grade

credit rating

CubeSmart: A Compelling Investment | Built for Growth | Operations that Drive Performance | Targeted Investments | Strong Fundamentals, Consistent Performance

1. As of March 31, 2026

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

29.2%

Total Debt/

Enterprise Value 1

6.4x

Fixed Charge

Coverage Ratio 1

$850.0M

Revolving Line of

Credit 1

4.0years

Weighted Average

Maturity1

Debt Maturity Schedule 1 (OOO's}

600,000

400,000

200,000

2026 2027

550,000

2028 2029 2030 2031 2032

8.87%

Weighted Average

Interest Rate 1

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

attract ively-p riced

capital sources to fund

our growth

BBB/Baa2

S&P/Moody's

Investment-grade

credit rating

$2.5B

Capital raised over

the last five years 1

2026 Financial Highlights

0.6%

Same - Store

Revenue Growth

5.8%

Same - Store Expense

Growth

(1.5)%

Same - Store NOI

Growth

Full Year Outlook 2

(0.25%) to 1.25%

Same -store revenue growth

3.25% to 4.75%

Same -store expense growth

(1.75%) to 0.25%

Same -store NOI growth

$2.52 to $2.60

FFO, as adjusted, per share

▪ Established a 15% ownership position in a newly formed

joint venture that acquired its initial store during the

quarter for a purchase price of $13.6 million

▪ Opened for operation one development property for a total

cost of $28.0 million

▪ Added 33 stores to our third-party management platform,

bringing our total third-party managed store count to 854

as of March 31, 2026

▪ Repurchased 0.9 million common shares of beneficial

interest through our share repurchase program for $33.4

million at an average purchase price of $36.64 per share

First Quarter 2026 Highlights

$13.6M

Acquisitions in Joint

Venture

Stores added to the

management

platform

$0.63

FFO, as adjusted,

per share

1. For the three months ended March 31, 2026

2. 2026 outlook last updated as of our earnings release dated April 30, 2026

CubeSmart: A Compelling Investment | Built for Growth | Operations that Drive Performance | Targeted Investments | Strong Fundamentals, Consistent Performance

First Quarter 2026 Results 1

CubeSmart: A Compelling Investment I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance

2026 Financial Highlights

First Quarter 2026 Results1

0.6%

Same-Store

Revenue Growth

5.8%

Same-Store Expense

Growth

(1.5)%

Same-Store NOi

Growth

$18.6M

Acquisitions in Joint

Venture

Stores added to the

management

platform

$0.68

FFO, as adjusted,

per share

First Quarter 2026 Highlights

~----------------------------------~

Full Year Outlook2

(0.25%) to 1.25%

Same-store revenue growth

3.25% to 4.75%

Same-store expense growth

(1. 75%) to 0.25%

Same-store NOi growth

$2.52 to $2.60

FFO, as adjusted, per share

Same - Store Operational Update

88.0%

89.0%

90.0%

91.0%

92.0%

93.0%

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Same - Store Occupancy 1

2025 2026

5,000

10,000

15,000

20,000

25,000

30,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Same - Store Rentals 1

2025 2026

5,000

10,000

15,000

20,000

25,000

30,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Same - Store Vacates 1

2025 2026

90.5%

-30 bps YOY

1. Results for the 2026 same-store pool

CubeSmart: A Compelling Investment | Built for Growth | Operations that Drive Performance | Targeted Investments | Strong Fundamentals, Consistent Performance

Year-to-date performance as of May 31 st

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

Year-to-date performance as of May 31st

30,000

25,000

20,000

15,000

10,000

5,000

Same-Store Rentals 1

30,000

25,000

20,000

15,000

10,000

5,000

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

■ 2025 ■ 2026

93.0%

92.0%

91.0%

90.0%

89.0% - 88.0%

Jan Feb Mar Apr

Same-Store Occupancy1

90.5%

-30 bps YOY

May Jun Jul

-2025 - 2026

Same-Store Vacates 1

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

■ 2025 ■ 2026

Aug Sep Oct Nov Dec

Consistent Earnings Outperformance

FFO per share growth above the sector average over the past three years

Consistent

outperformance

driven by:

Sophisticated Operating

Platform

Maximizing revenue through

innovative & efficient execution

Expense Control

Sector -leading same -store

expense control, 190 bps lower

than the peer average 2

Disciplined Capital

Allocation

Creative capital deployment

focused on long -term value

creation

Conservative Balance

Sheet Strategy

Cash flow stability throughout the

cycle

-1.9% -1.9%

0.7%

-1.9%

-2.7%

-1.8%

-3.0%

-2.5%

-2.0%

-1.5%

-1.0%

-0.5%

0.0%

0.5%

1.0%

One-Year Two-Year Three-Year

FFO, as adjusted, Per Share Growth vs Sector Average 1

2023-2025

CUBE Sector Average

1. Represents average annual FFO, as adjusted, per share growth for the one-, two-, and three-year periods ended December 31, 2025. Sector is comprised of EXR, PSA, and NSA.

2. Three-year average for the years ending December 31, 2025, 2024 and 2023. Sector average comprised of EXR, PSA and NSA.

CubeSmart: A Compelling Investment CubeSmart: A Compelling Investment | Built for Growth | Operations that Drive Performance | Targeted Investments | I Built for Growth I Operations that Drive Performance I Targeted Investments I Strong Fundamentals, Consistent Performance Strong Fundamentals, Consistent Performance

Consistent Earnings Outperformance

FFO per share growth above the sector average over the past three years

1.0%

0.5%

0.0%

-0.5%

-1 .0%

-1 .5%

-2.0%

-2.5%

-3.0%

FFO, as adjusted, Per Share Growth vs Sector Average 1

2023-2025

-1.9% -1.9% -1.8%

One-Year

-2.7%

Two-Year Three-Year

■ CUBE ■ Sector Average

Consistent

outperformance

driven by:

Sophisticated Operating

Platform

Maximizing revenue through

innovative & efficient execution

Expense Control

Sector-leading same-store

expense control, 190 bps lower

than the peer average2

Disciplined Capital

Allocation

Creative capital deployment

focused on long-term value

creation

Conservative Balance

Sheet Strategy

Cash flow stability throughout the

cycle

Long -Term Cash Flow Growth

A consistent history of sharing our growth with our shareholders

$0.50

$1.00

$1.50

$2.00

$2.50

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Annual Dividend per Share

+203%

$0.00

$0.50

$1.00

$1.50

$2.00

$2.50

$3.00

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

FFO, as adjusted, per share

+106%

CubeSmart: A Compelling Investment | Built for Growth | Operations that Drive Performance | Targeted Investments | Strong Fundamentals, Consistent Performance

Sixteen consecutive years of dividend increases, the longest active streak among storage REITs

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 +106% $2.50

+203%

$2.50

$2.00

$1.50

$1.00

$1 .00

$0.50

$0.00 $-

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Sixteen consecutive years of dividend increases, the longest active streak among storage REITs

Why CubeSmart?

A company built to perform throughout all phases of the cycle

Attractive Industry

Well- diversified demand characteristics create strong industry 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

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·

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XML — IDEA: XBRL DOCUMENT

XML

Filename: R1.htm · Sequence: 36

v3.26.1

Document and Entity Information

Jun. 01, 2026

Document Type

8-K

Document Period End Date

Jun. 01, 2026

Entity File Number

001-32324

Entity Registrant Name

CUBESMART

Entity Incorporation, State or Country Code

Entity Tax Identification Number

20-1024732

Entity Address, Address Line One

5 Old Lancaster Road

Entity Address, City or Town

Malvern

Entity Address, State or Province

Entity Address, Postal Zip Code

19355

City Area Code

610

Local Phone Number

535-5000

Title of 12(b) Security

Common Shares, $0.01 par value per share, of CubeSmart

Trading Symbol

CUBE

Security Exchange Name

NYSE

Written Communications

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Soliciting Material

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Pre-commencement Tender Offer

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Entity Emerging Growth Company

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Entity Central Index Key

0001298675

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CUBESMART L.P.

Document Type

8-K

Document Period End Date

Jun. 01, 2026

Entity File Number

000-54462

Entity Registrant Name

CUBESMART, L.P.

Entity Incorporation, State or Country Code

Entity Tax Identification Number

34-1837021

Entity Address, Address Line One

5 Old Lancaster Road

Entity Address, City or Town

Malvern

Entity Address, State or Province

Entity Address, Postal Zip Code

19355

City Area Code

610

Local Phone Number

535-5000

Written Communications

false

Soliciting Material

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Pre-commencement Tender Offer

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Pre-commencement Issuer Tender Offer

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Entity Emerging Growth Company

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Entity Central Index Key

0001300485

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