Table of Contents Company/Analyst Information 3 Legal Disclaimers 4 Earnings Release Text 5 Financial Highlights 12 Balance Sheets 13 Statements of Operations - Trailing Five Quarters 14 Statements of Operations 15 Same-Store Portfolio Net Operating Income 16 Same-Store Portfolio Net Operating Income - Trailing Five Quarters 17 Consolidating Statements of Net Operating Income 18 Non-Same-Store Portfolio Composition 19 Funds from Operations - Trailing Five Quarters 20 Funds from Operations 21 Debt Overview 22 Secured Debt Analysis 23 Unsecured Debt Analysis 24 Operating Performance - By Region 25 Properties by State, Total Portfolio 26 Properties by State, Same-Store Portfolio 27 Fourth Quarter 2013
CUBESMART December 31, 2013 Equity Research Coverage BANK OF AMERICA MERRILL LYNCH BMO CAPITAL MARKETS CANTOR FITZGERALD CITIGROUP JANA GALAN / JANE WONG PAUL ADORNATO / TRISH AZEEZ DAVID TOTI / GAURAV MEHTA MICHAEL BILERMAN / CHRISTY MCELROY 646.855.3081 / 646.855.3378 212.885.4170 / 212.885.4172 212.915.1219 / 212.915.1221 212.816.1383 / 212.231.0647 GREEN STREET ADVISORS ISI GROUP KEYBANC CAPITAL MARKETS MACQUARIE CAPITAL (USA) INC. DAVID BRAGG / RYAN BURKE STEVE SAKWA / GWEN CLARK TODD THOMAS / JORDAN SADLER SHAHZEB ZAKARIA 949.640.8780 212.446.9462 / 212.446.5611 917.368.2286 / 917.368.2280 212.231.0647 RAYMOND JAMES & ASSOCIATES ROBERT W. BAIRD & CO. STIFEL NICOLAUS & COMPANY, INC. SUNTRUST ROBINSON HUMPHREY PAUL PURYEAR / RJ MILLIGAN PAULA POSKON ROD PETRIK / DAVID CORAK KI BIN KIM / BRANDON CHEATHAM 727.567.2253 / 727.567.2660 571.203.1677 443.224.1306 / 443.224.1340 212.303.4124 / 212.303.4129 UBS INVESTMENT RESEARCH WELLS FARGO SECURITIES, LLC ROSS NUSSBAUM / R. JEREMY METZ TODD STENDER 212.713.2484 / 212.713.2429 212.214.8067 Any opinions, estimates, forecasts or predictions regarding CubeSmart's performance made by these analysts are theirs alone and do not represent opinions, estimates, forecasts or predictions of CubeSmart or its management. CubeSmart does not by its reference above or distribution imply its endorsement of or concurrence with such opinions, estimates, forecasts or predictions. Company Information Corporate Headquarters Trading Symbol Investor Relations Information Requests 5 Old Lancaster Road Common Shares: CUBE Charles Place To request an Investor Relations Malvern, PA 19355 5 Old Lancaster Road package or annual report, please visit Stock Exchange Listing 610.535.5700 New York Stock Exchange Malvern, PA 19355 our website at www.cubesmart.com 610.535.5700 Investor Information 4th Quarter 3rd Quarter 2nd Quarter 1st Quarter 4th Quarter 2013 2013 2013 2013 2012 Common Shares and Units: Share price, high $ 19.48 $ 17.96 $ 17.57 $ 15.92 $ 14.67 Share price, low $ 15.12 $ 15.94 $ 15.48 $ 14.24 $ 12.59 Share price, period end $ 15.94 $ 17.84 $ 15.98 $ 15.80 $ 14.57 Dividends declared per share $ 0.13 $ 0.11 $ 0.11 $ 0.11 $ 0.11 Dividend yield, period end 3.26% 2.47% 2.75% 2.78% 3.02% Closing Common Shares outstanding (excluding unvested restricted shares, in thousands) 139,328 136,486 134,430 133,208 131,795 Closing Operating Partnership units outstanding 2,276 2,281 2,281 2,281 3,294 Total closing Common Shares and Units 141,604 138,767 136,711 135,489 135,089 Preferred Shares (Series A): Share price, high $ 26.18 $ 26.43 $ 27.80 $ 27.25 $ 27.02 Share price, low $ 25.15 $ 25.36 $ 25.94 $ 26.17 $ 26.05 Share price, period end $ 25.15 $ 25.58 $ 25.94 $ 26.95 $ 26.05 Dividends declared per share $ 0.4844 $ 0.4844 $ 0.4844 $ 0.4844 $ 0.4844 Dividend yield, period end 7.70% 7.57% 7.47% 7.19% 7.44% Closing Preferred Shares outstanding (in thousands) 3,100 3,100 3,100 3,100 3,100 Fourth Quarter 2013 Page 3
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