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Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 320.35 Td (Arlen ) Tj ET Q q 0 0 0 rg BT 79.19 320.35 Td (Nordhagen, ) Tj ET Q q 0 0 0 rg BT 140.69 320.35 Td (Chief ) Tj ET Q q 0 0 0 rg BT 170.37 320.35 Td (Executive ) Tj ET Q q 0 0 0 rg BT 222.07 320.35 Td (Of) Tj ET Q q 0 0 0 rg BT 233.49 320.35 Td (ficer) Tj ET Q q 0 0 0 rg BT 253.66 320.35 Td (, ) Tj ET Q q 0 0 0 rg BT 260.73 320.35 Td (commented, ) Tj ET Q q 0 0 0 rg BT 325.26 320.35 Td (W) Tj ET Q q 0 0 0 rg BT 339.11 320.35 Td (e ) Tj ET Q q 0 0 0 rg BT 349.24 320.35 Td (are ) Tj ET Q q 0 0 0 rg BT 369.15 320.35 Td (very ) Tj ET Q q 0 0 0 rg BT 393.94 320.35 Td (pleased ) Tj ET Q q 0 0 0 rg BT 436.48 320.35 Td (with ) Tj ET Q q 0 0 0 rg BT 460.05 320.35 Td (the ) Tj ET Q q 0 0 0 rg BT 479.35 320.35 Td (Company's ) Tj ET Q q 0 0 0 rg BT 538.04 320.35 Td (2015 ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 307.15 Td (performance ) Tj ET Q q 0 0 0 rg BT 114.14 307.15 Td (to ) Tj ET Q q 0 0 0 rg BT 126.20 307.15 Td (date. ) Tj ET Q q 0 0 0 rg BT 153.56 307.15 Td (W) Tj ET Q q 0 0 0 rg BT 163.74 307.15 Td (e ) Tj ET Q q 0 0 0 rg BT 172.75 307.15 Td (strengthened ) Tj ET Q q 0 0 0 rg BT 239.85 307.15 Td (our ) Tj ET Q q 0 0 0 rg BT 258.64 307.15 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 300.67 307.15 Td (in ) Tj ET Q q 0 0 0 rg BT 312.12 307.15 Td (the ) Tj ET Q q 0 0 0 rg BT 330.30 307.15 Td (first ) Tj ET Q q 0 0 0 rg BT 350.90 307.15 Td (quarter ) Tj ET Q q 0 0 0 rg BT 388.65 307.15 Td (leading ) Tj ET Q q 0 0 0 rg BT 427.01 307.15 Td (into ) Tj ET Q q 0 0 0 rg BT 447.64 307.15 Td (our ) Tj ET Q q 0 0 0 rg BT 466.42 307.15 Td (initial ) Tj ET Q q 0 0 0 rg BT 494.38 307.15 Td (public ) Tj ET Q q 0 0 0 rg BT 526.01 307.15 Td (of) Tj ET Q q 0 0 0 rg BT 534.99 307.15 Td (fering ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 293.95 Td (with ) Tj ET Q q 0 0 0 rg BT 72.32 293.95 Td (the ) Tj ET Q q 0 0 0 rg BT 90.87 293.95 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 146.11 293.95 Td (of ) Tj ET Q q 0 0 0 rg BT 158.54 293.95 Td (six ) Tj ET Q q 0 0 0 rg BT 175.24 293.95 Td (self ) Tj ET Q q 0 0 0 rg BT 195.62 293.95 Td (storage ) Tj ET Q q 0 0 0 rg BT 235.57 293.95 Td (properties ) Tj ET Q q 0 0 0 rg BT 287.74 293.95 Td (and ) Tj ET Q q 0 0 0 rg BT 309.36 293.95 Td (completed ) Tj ET Q q 0 0 0 rg BT 363.37 293.95 Td (an ) Tj ET Q q 0 0 0 rg BT 378.86 293.95 Td (additional ) Tj ET Q q 0 0 0 rg BT 429.21 293.95 Td (21 ) Tj ET Q q 0 0 0 rg BT 444.71 293.95 Td (self ) Tj ET Q q 0 0 0 rg BT 465.09 293.95 Td (storage ) Tj ET Q q 0 0 0 rg BT 505.03 293.95 Td (acquisitions ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 280.75 Td (in ) Tj ET Q q 0 0 0 rg BT 61.33 280.75 Td (connection ) Tj ET Q q 0 0 0 rg BT 117.81 280.75 Td (with ) Tj ET Q q 0 0 0 rg BT 140.65 280.75 Td (the ) Tj ET Q q 0 0 0 rg BT 159.21 280.75 Td (completion ) Tj ET Q q 0 0 0 rg BT 215.68 280.75 Td (of ) Tj ET Q q 0 0 0 rg BT 228.12 280.75 Td (our ) Tj ET Q q 0 0 0 rg BT 247.30 280.75 Td (IPO. ) Tj ET Q q 0 0 0 rg BT 272.57 280.75 Td (W) Tj ET Q q 0 0 0 rg BT 282.76 280.75 Td (e ) Tj ET Q q 0 0 0 rg BT 292.15 280.75 Td (are ) Tj ET Q q 0 0 0 rg BT 311.32 280.75 Td (also ) Tj ET Q q 0 0 0 rg BT 334.77 280.75 Td (pleased ) Tj ET Q q 0 0 0 rg BT 376.57 280.75 Td (by ) Tj ET Q q 0 0 0 rg BT 391.46 280.75 Td (the ) Tj ET Q q 0 0 0 rg BT 410.03 280.75 Td (improvement ) Tj ET Q q 0 0 0 rg BT 476.88 280.75 Td (in ) Tj ET Q q 0 0 0 rg BT 488.71 280.75 Td (our ) Tj ET Q q 0 0 0 rg BT 507.88 280.75 Td (same ) Tj ET Q q 0 0 0 rg BT 538.05 280.75 Td (store ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 267.55 Td (property ) Tj ET Q q 0 0 0 rg BT 93.75 267.55 Td (operations ) Tj ET Q q 0 0 0 rg BT 149.02 267.55 Td (with ) Tj ET Q q 0 0 0 rg BT 172.49 267.55 Td (excellent ) Tj ET Q q 0 0 0 rg BT 219.80 267.55 Td (growth ) Tj ET Q q 0 0 0 rg BT 256.72 267.55 Td (in ) Tj ET Q q 0 0 0 rg BT 269.18 267.55 Td (net ) Tj ET Q q 0 0 0 rg BT 288.37 267.55 Td (operating ) Tj ET Q q 0 0 0 rg BT 338.14 267.55 Td (income, ) Tj ET Q q 0 0 0 rg BT 380.56 267.55 Td (occupancy ) Tj ET Q q 0 0 0 rg BT 437.05 267.55 Td (and ) Tj ET Q q 0 0 0 rg BT 459.30 267.55 Td (average ) Tj ET Q q 0 0 0 rg BT 502.96 267.55 Td (revenue ) Tj ET Q q 0 0 0 rg BT 546.61 267.55 Td (per ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 254.35 Td (occupied ) Tj ET Q q 0 0 0 rg BT 96.59 254.35 Td (square ) Tj ET Q q 0 0 0 rg BT 133.28 254.35 Td (foot.") Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 235.15 Td (Financial ) Tj ET Q q 0 0 0 rg BT 100.24 235.15 Td (Results) Tj ET Q 0.6745098039215687 0.6745098039215687 0.6745098039215687 rg /GS0 gs 49.00 218.65 341.00 -16.00 re f /GS0 gs 0.6745098039215687 0.6745098039215687 0.6745098039215687 rg /GS0 gs 390.00 218.65 172.00 -16.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 186.65 341.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 186.65 84.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.00 186.65 4.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.00 186.65 84.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 150.65 341.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 150.65 84.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.00 150.65 4.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.00 150.65 84.00 -18.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 114.65 341.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 114.65 84.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.00 114.65 4.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.00 114.65 84.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 80.65 341.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 390.00 80.65 84.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 474.00 80.65 4.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 478.00 80.65 84.00 -17.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 202.64999999999998 m 474 202.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474 202.64999999999998 m 478 202.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478 202.64999999999998 m 562 202.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 390 186.64999999999998 m 474 186.64999999999998 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 478 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Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 419.25 191.49 Td (2015) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 507.25 191.49 Td (2014) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 51.50 173.49 Td (Net loss) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 392.50 173.49 Td ($) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 438.55 173.49 Td (\(2,771) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 469.80 173.49 Td (\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 480.50 173.49 Td ($) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 526.60 173.54 Td (\(2,803) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 557.80 173.49 Td (\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 51.50 155.49 Td (Funds From Operations \(FFO\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 442.25 155.54 Td (3,760) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 539.40 155.49 Td (372) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 51.50 137.49 Td (Add back acquisition, organizational and offering expenses) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 451.40 137.49 Td (657) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 539.40 137.49 Td (417) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 60.50 119.49 Td (Core Funds From Operations \(Core FFO\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 392.50 119.49 Td ($) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 442.25 119.54 Td (4,417) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 480.50 119.49 Td ($) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 539.40 119.49 Td (789) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 51.50 85.49 Td (FFO per share and unit) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 392.50 85.49 Td ($) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 448.30 85.49 Td (0.18) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 480.50 85.49 Td ($) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 536.35 85.54 Td (0.04) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 51.50 68.49 Td (Core FFO per share and unit) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 392.50 68.49 Td ($) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 448.30 68.49 Td (0.21) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 480.50 68.49 Td ($) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 536.35 68.54 Td (0.09) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 57.00 0 0 47.00 50.00 732.50 cm /I3 Do Q endstream endobj 9 0 obj <> endobj 10 0 obj <> stream BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.20 33.25 Td (2) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 673.60 Td (First ) Tj ET Q q 0 0 0 rg BT 73.03 673.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 110.04 673.60 Td (2015 ) Tj ET Q q 0 0 0 rg BT 136.66 673.60 Td (funds ) Tj ET Q q 0 0 0 rg BT 165.72 673.60 Td (from ) Tj ET Q q 0 0 0 rg BT 189.87 673.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 243.40 673.60 Td (\("FFO"\) ) Tj ET Q q 0 0 0 rg BT 282.68 673.60 Td (and ) Tj ET Q q 0 0 0 rg BT 303.18 673.60 Td (Core ) Tj ET Q q 0 0 0 rg BT 329.18 673.60 Td (FFO ) Tj ET Q q 0 0 0 rg BT 353.32 673.60 Td (increased ) Tj ET Q q 0 0 0 rg BT 403.17 673.60 Td ($3.4 ) Tj ET Q q 0 0 0 rg BT 426.73 673.60 Td (million ) Tj ET Q q 0 0 0 rg BT 460.06 673.60 Td (and ) Tj ET Q q 0 0 0 rg BT 480.56 673.60 Td ($3.6 ) Tj ET Q q 0 0 0 rg BT 504.12 673.60 Td (million ) Tj ET Q q 0 0 0 rg BT 537.45 673.60 Td (year-) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 660.40 Td (over-year ) Tj ET Q q 0 0 0 rg BT 98.82 660.40 Td (from ) Tj ET Q q 0 0 0 rg BT 123.68 660.40 Td (first ) Tj ET Q q 0 0 0 rg BT 144.25 660.40 Td (quarter ) Tj ET Q q 0 0 0 rg BT 181.96 660.40 Td (of ) Tj ET Q q 0 0 0 rg BT 194.00 660.40 Td (2014, ) Tj ET Q q 0 0 0 rg BT 224.38 660.40 Td (respectively) Tj ET Q q 0 0 0 rg BT 281.64 660.40 Td (, ) Tj ET Q q 0 0 0 rg BT 287.56 660.40 Td (primarily ) Tj ET Q q 0 0 0 rg BT 331.97 660.40 Td (a ) Tj ET Q q 0 0 0 rg BT 340.95 660.40 Td (result ) Tj ET Q q 0 0 0 rg BT 370.70 660.40 Td (of ) Tj ET Q q 0 0 0 rg BT 382.73 660.40 Td (an ) Tj ET Q q 0 0 0 rg BT 397.83 660.40 Td (additional ) Tj ET Q q 0 0 0 rg BT 447.78 660.40 Td ($9.4 ) Tj ET Q q 0 0 0 rg BT 472.05 660.40 Td (million ) Tj ET Q q 0 0 0 rg BT 506.08 660.40 Td (of ) Tj ET Q q 0 0 0 rg BT 518.11 660.40 Td (NOI ) Tj ET Q q 0 0 0 rg BT 540.52 660.40 Td (from ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 647.20 Td (the ) Tj ET Q q 0 0 0 rg BT 68.16 647.20 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 123.50 647.20 Td (of ) Tj ET Q q 0 0 0 rg BT 136.03 647.20 Td (88 ) Tj ET Q q 0 0 0 rg BT 151.63 647.20 Td (self ) Tj ET Q q 0 0 0 rg BT 172.11 647.20 Td (storage ) Tj ET Q q 0 0 0 rg BT 212.17 647.20 Td (properties ) Tj ET Q q 0 0 0 rg BT 264.45 647.20 Td (acquired ) Tj ET Q q 0 0 0 rg BT 310.00 647.20 Td (between ) Tj ET Q q 0 0 0 rg BT 354.29 647.20 Td (April1, ) Tj ET Q q 0 0 0 rg BT 391.89 647.20 Td (2014 ) Tj ET Q q 0 0 0 rg BT 419.72 647.20 Td (and ) Tj ET Q q 0 0 0 rg BT 441.44 647.20 Td (March31, ) Tj ET Q q 0 0 0 rg BT 493.71 647.20 Td (2015, ) Tj ET Q q 0 0 0 rg BT 524.60 647.20 Td (partially ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 634.00 Td (of) Tj ET Q q 0 0 0 rg BT 58.48 634.00 Td (fset ) Tj ET Q q 0 0 0 rg BT 79.26 634.00 Td (by ) Tj ET Q q 0 0 0 rg BT 93.94 634.00 Td (increases ) Tj ET Q q 0 0 0 rg BT 144.07 634.00 Td (in ) Tj ET Q q 0 0 0 rg BT 155.69 634.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 194.81 634.00 Td (and ) Tj ET Q q 0 0 0 rg BT 216.22 634.00 Td (general ) Tj ET Q q 0 0 0 rg BT 255.98 634.00 Td (and ) Tj ET Q q 0 0 0 rg BT 277.38 634.00 Td (administrative ) Tj ET Q q 0 0 0 rg BT 348.30 634.00 Td (expenses.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 614.80 Td (Net ) Tj ET Q q 0 0 0 rg BT 69.51 614.80 Td (loss ) Tj ET Q q 0 0 0 rg BT 91.96 614.80 Td (decreased ) Tj ET Q q 0 0 0 rg BT 146.22 614.80 Td (by ) Tj ET Q q 0 0 0 rg BT 160.72 614.80 Td (less ) Tj ET Q q 0 0 0 rg BT 183.17 614.80 Td (than ) Tj ET Q q 0 0 0 rg BT 207.47 614.80 Td ($0.1 ) Tj ET Q q 0 0 0 rg BT 231.77 614.80 Td (million ) Tj ET Q q 0 0 0 rg BT 265.83 614.80 Td (year-over-year ) Tj ET Q q 0 0 0 rg BT 340.24 614.80 Td (from ) Tj ET Q q 0 0 0 rg BT 365.13 614.80 Td (first ) Tj ET Q q 0 0 0 rg BT 385.74 614.80 Td (quarter ) Tj ET Q q 0 0 0 rg BT 423.48 614.80 Td (of ) Tj ET Q q 0 0 0 rg BT 435.55 614.80 Td (2014. ) Tj ET Q q 0 0 0 rg BT 465.77 614.80 Td (The ) Tj ET Q q 0 0 0 rg BT 487.62 614.80 Td (decrease ) Tj ET Q q 0 0 0 rg BT 535.76 614.80 Td (in ) Tj ET Q q 0 0 0 rg BT 547.21 614.80 Td (net ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 601.60 Td (loss ) Tj ET Q q 0 0 0 rg BT 72.39 601.60 Td (was ) Tj ET Q q 0 0 0 rg BT 95.28 601.60 Td (primarily ) Tj ET Q q 0 0 0 rg BT 140.16 601.60 Td (due ) Tj ET Q q 0 0 0 rg BT 161.84 601.60 Td (to ) Tj ET Q q 0 0 0 rg BT 174.34 601.60 Td (an ) Tj ET Q q 0 0 0 rg BT 189.90 601.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 234.80 601.60 Td (in ) Tj ET Q q 0 0 0 rg BT 246.69 601.60 Td (NOI ) Tj ET Q q 0 0 0 rg BT 269.57 601.60 Td (resulting ) Tj ET Q q 0 0 0 rg BT 314.48 601.60 Td (from ) Tj ET Q q 0 0 0 rg BT 339.80 601.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 390.22 601.60 Td (self ) Tj ET Q q 0 0 0 rg BT 410.67 601.60 Td (storage ) Tj ET Q q 0 0 0 rg BT 450.68 601.60 Td (properties ) Tj ET Q q 0 0 0 rg BT 502.92 601.60 Td (we ) Tj ET Q q 0 0 0 rg BT 520.31 601.60 Td (acquired ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 588.40 Td (during ) Tj ET Q q 0 0 0 rg BT 83.01 588.40 Td (2014 ) Tj ET Q q 0 0 0 rg BT 110.42 588.40 Td (and ) Tj ET Q q 0 0 0 rg BT 131.71 588.40 Td (2015, ) Tj ET Q q 0 0 0 rg BT 162.17 588.40 Td (of) Tj ET Q q 0 0 0 rg BT 171.14 588.40 Td (fset ) Tj ET Q q 0 0 0 rg BT 191.81 588.40 Td (by ) Tj ET Q q 0 0 0 rg BT 206.36 588.40 Td (increases ) Tj ET Q q 0 0 0 rg BT 256.37 588.40 Td (in ) Tj ET Q q 0 0 0 rg BT 267.87 588.40 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 330.74 588.40 Td (and ) Tj ET Q q 0 0 0 rg BT 352.02 588.40 Td (amortization, ) Tj ET Q q 0 0 0 rg BT 417.93 588.40 Td (interest ) Tj ET Q q 0 0 0 rg BT 456.94 588.40 Td (expense, ) Tj ET Q q 0 0 0 rg BT 504.52 588.40 Td (and ) Tj ET Q q 0 0 0 rg BT 525.81 588.40 Td (general ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 575.20 Td (and ) Tj ET Q q 0 0 0 rg BT 70.91 575.20 Td (administrative ) Tj ET Q q 0 0 0 rg BT 141.82 575.20 Td (expenses.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 556.00 Td (T) Tj ET Q q 0 0 0 rg BT 55.40 556.00 Td (otal ) Tj ET Q q 0 0 0 rg BT 78.02 556.00 Td (Portfolio ) Tj ET Q q 0 0 0 rg BT 126.29 556.00 Td (Operating ) Tj ET Q q 0 0 0 rg BT 181.29 556.00 Td (Results) Tj ET Q 0.6745098039215687 0.6745098039215687 0.6745098039215687 rg /GS0 gs 49.50 539.50 340.00 -15.00 re f /GS0 gs 0.6745098039215687 0.6745098039215687 0.6745098039215687 rg /GS0 gs 389.50 539.50 172.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 509.50 340.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 509.50 84.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 509.50 4.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 509.50 84.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 475.50 340.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 475.50 84.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 475.50 4.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 475.50 84.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 441.50 340.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 441.50 84.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 441.50 4.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 441.50 84.00 -17.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 524.5 m 473.5 524.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 524.5 m 477.5 524.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 524.5 m 561.5 524.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 509.5 m 473.5 509.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 509.5 m 561.5 509.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 509.5 m 473.5 509.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 509.5 m 561.5 509.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 475.5 m 473.5 475.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 475.5 m 561.5 475.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 475.5 m 473.5 475.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 459.5 m 473.5 459.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 457.5 m 473.5 457.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 475.5 m 561.5 475.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 459.5 m 561.5 459.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 457.5 m 561.5 457.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 425.5 m 473.5 425.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 423.5 m 473.5 423.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 425.5 m 561.5 425.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 423.5 m 561.5 423.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 408.5 m 473.5 408.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 406.5 m 473.5 406.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 408.5 m 561.5 408.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 406.5 m 561.5 406.5 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.00 528.99 Td (\($ in thousands, except per square foot data\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 441.65 528.99 Td (First Quarter) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 418.75 513.99 Td (2015) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 506.75 513.99 Td (2014) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.00 497.34 Td (Total revenue) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 392.00 497.34 Td ($) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 435.65 497.34 Td (28,291) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 480.00 497.34 Td ($) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 523.65 497.34 Td (13,161) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.00 480.34 Td (Property operating expenses) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 441.75 480.39 Td (9,842) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 529.75 480.39 Td (4,922) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 52.00 463.34 Td (Net Operating Income \(NOI\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 392.00 463.34 Td ($) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 435.65 463.34 Td (18,449) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 480.00 463.34 Td ($) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 529.75 463.39 Td (8,239) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 52.00 429.34 Td (Average annualized rental revenue per occupied square foot) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 392.00 429.34 Td ($) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 441.75 429.39 Td (10.41) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 480.00 429.34 Td ($) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 535.85 429.39 Td (9.32) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 52.00 412.34 Td (Average annualized contractual rent per occupied square foot) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 392.00 412.34 Td ($) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 441.75 412.39 Td (10.40) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 480.00 412.34 Td ($) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 535.85 412.39 Td (9.36) Tj ET Q BT /F1 10.00 Tf ET BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 388.80 Td (T) Tj ET Q q 0 0 0 rg BT 55.00 388.80 Td (otal ) Tj ET Q q 0 0 0 rg BT 75.59 388.80 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 117.57 388.80 Td (revenues ) Tj ET Q q 0 0 0 rg BT 165.68 388.80 Td (increased ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 216.22 388.80 Td (1) Tj ET Q q 0 0 0 rg BT 221.52 388.80 Td (15.0%) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 252.71 388.80 Td ( ) Tj ET Q q 0 0 0 rg BT 255.56 388.80 Td (in ) Tj ET Q q 0 0 0 rg BT 266.98 388.80 Td (the ) Tj ET Q q 0 0 0 rg BT 285.12 388.80 Td (first ) Tj ET Q q 0 0 0 rg BT 305.69 388.80 Td (quarter ) Tj ET Q q 0 0 0 rg BT 343.40 388.80 Td (of ) Tj ET Q q 0 0 0 rg BT 355.42 388.80 Td (2015 ) Tj ET Q q 0 0 0 rg BT 382.74 388.80 Td (compared ) Tj ET Q q 0 0 0 rg BT 434.51 388.80 Td (to ) Tj ET Q q 0 0 0 rg BT 446.54 388.80 Td (the ) Tj ET Q q 0 0 0 rg BT 464.68 388.80 Td (first ) Tj ET Q q 0 0 0 rg BT 485.25 388.80 Td (quarter ) Tj ET Q q 0 0 0 rg BT 522.95 388.80 Td (of ) Tj ET Q q 0 0 0 rg BT 534.98 388.80 Td (2014. ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 375.60 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 96.48 375.60 Td (increases ) Tj ET Q q 0 0 0 rg BT 146.51 375.60 Td (were ) Tj ET Q q 0 0 0 rg BT 173.30 375.60 Td (driven ) Tj ET Q q 0 0 0 rg BT 206.21 375.60 Td (by ) Tj ET Q q 0 0 0 rg BT 220.77 375.60 Td (a ) Tj ET Q q 0 0 0 rg BT 229.84 375.60 Td (180 ) Tj ET Q q 0 0 0 rg BT 251.14 375.60 Td (basis ) Tj ET Q q 0 0 0 rg BT 279.77 375.60 Td (point ) Tj ET Q q 0 0 0 rg BT 306.57 375.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 351.10 375.60 Td (in ) Tj ET Q q 0 0 0 rg BT 362.61 375.60 Td (average ) Tj ET Q q 0 0 0 rg BT 405.31 375.60 Td (occupancy ) Tj ET Q q 0 0 0 rg BT 460.85 375.60 Td (for ) Tj ET Q q 0 0 0 rg BT 476.63 375.60 Td (the ) Tj ET Q q 0 0 0 rg BT 494.87 375.60 Td (first ) Tj ET Q q 0 0 0 rg BT 515.54 375.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 553.34 375.60 Td (of ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 362.40 Td (2015 ) Tj ET Q q 0 0 0 rg BT 76.81 362.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 128.56 362.40 Td (to ) Tj ET Q q 0 0 0 rg BT 140.57 362.40 Td (the ) Tj ET Q q 0 0 0 rg BT 158.70 362.40 Td (first ) Tj ET Q q 0 0 0 rg BT 179.25 362.40 Td (quarter ) Tj ET Q q 0 0 0 rg BT 216.94 362.40 Td (of ) Tj ET Q q 0 0 0 rg BT 228.96 362.40 Td (2014, ) Tj ET Q q 0 0 0 rg BT 259.32 362.40 Td (combined ) Tj ET Q q 0 0 0 rg BT 309.85 362.40 Td (with ) Tj ET Q q 0 0 0 rg BT 332.25 362.40 Td (an ) Tj ET Q q 0 0 0 rg BT 347.32 362.40 Td (1) Tj ET Q q 0 0 0 rg BT 352.62 362.40 Td (1.7% ) Tj ET Q q 0 0 0 rg BT 380.53 362.40 Td (increase ) Tj ET Q q 0 0 0 rg BT 424.95 362.40 Td (in ) Tj ET Q q 0 0 0 rg BT 436.35 362.40 Td (average ) Tj ET Q q 0 0 0 rg BT 478.93 362.40 Td (annualized ) Tj ET Q q 0 0 0 rg BT 534.98 362.40 Td (rental ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 349.20 Td (revenue ) Tj ET Q q 0 0 0 rg BT 92.31 349.20 Td (per ) Tj ET Q q 0 0 0 rg BT 111.26 349.20 Td (occupied ) Tj ET Q q 0 0 0 rg BT 158.35 349.20 Td (square ) Tj ET Q q 0 0 0 rg BT 195.04 349.20 Td (foot ) Tj ET Q q 0 0 0 rg BT 216.44 349.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 268.42 349.20 Td (to ) Tj ET Q q 0 0 0 rg BT 280.65 349.20 Td (the ) Tj ET Q q 0 0 0 rg BT 298.99 349.20 Td (prior ) Tj ET Q q 0 0 0 rg BT 324.05 349.20 Td (year) Tj ET Q q 0 0 0 rg BT 344.85 349.20 Td (.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 330.00 Td (T) Tj ET Q q 0 0 0 rg BT 55.00 330.00 Td (otal ) Tj ET Q q 0 0 0 rg BT 76.30 330.00 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 119.00 330.00 Td (NOI ) Tj ET Q q 0 0 0 rg BT 142.12 330.00 Td (in ) Tj ET Q q 0 0 0 rg BT 154.25 330.00 Td (the ) Tj ET Q q 0 0 0 rg BT 173.11 330.00 Td (first ) Tj ET Q q 0 0 0 rg BT 194.40 330.00 Td (quarter ) Tj ET Q q 0 0 0 rg BT 232.82 330.00 Td (increased ) Tj ET Q q 0 0 0 rg BT 284.08 330.00 Td (123.9% ) Tj ET Q q 0 0 0 rg BT 324.95 330.00 Td (to ) Tj ET Q q 0 0 0 rg BT 337.69 330.00 Td (over ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 362.66 330.00 Td ($18.4 ) Tj ET Q q 0 0 0 rg BT 393.75 330.00 Td (million) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 424.92 330.00 Td ( ) Tj ET Q q 0 0 0 rg BT 428.49 330.00 Td (in ) Tj ET Q q 0 0 0 rg BT 440.62 330.00 Td (2015 ) Tj ET Q q 0 0 0 rg BT 468.65 330.00 Td (from ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 494.22 330.00 Td ($8.2 ) Tj ET Q q 0 0 0 rg BT 519.20 330.00 Td (million) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 550.37 330.00 Td ( ) Tj ET Q q 0 0 0 rg BT 553.94 330.00 Td (in ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 316.80 Td (2014.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 294.60 Td (Same ) Tj ET Q q 0 0 0 rg BT 81.91 294.60 Td (Store ) Tj ET Q q 0 0 0 rg BT 113.08 294.60 Td (Operating ) Tj ET Q q 0 0 0 rg BT 168.09 294.60 Td (Results) Tj ET Q 0.6745098039215687 0.6745098039215687 0.6745098039215687 rg /GS0 gs 49.50 278.10 340.00 -15.00 re f /GS0 gs 0.6745098039215687 0.6745098039215687 0.6745098039215687 rg /GS0 gs 389.50 278.10 172.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 248.10 340.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 248.10 84.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 248.10 4.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 248.10 84.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 214.10 340.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 214.10 84.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 214.10 4.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 214.10 84.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.50 180.10 340.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 389.50 180.10 84.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 180.10 4.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 477.50 180.10 84.00 -17.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 263.1 m 473.5 263.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 263.1 m 477.5 263.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 263.1 m 561.5 263.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 248.10000000000002 m 473.5 248.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 248.10000000000002 m 561.5 248.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 248.10000000000002 m 473.5 248.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 248.10000000000002 m 561.5 248.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 214.10000000000002 m 473.5 214.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 214.10000000000002 m 561.5 214.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 214.10000000000002 m 473.5 214.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 198.10000000000002 m 473.5 198.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 196.10000000000002 m 473.5 196.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 214.10000000000002 m 561.5 214.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 198.10000000000002 m 561.5 198.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 196.10000000000002 m 561.5 196.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 164.10000000000002 m 473.5 164.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 162.10000000000002 m 473.5 162.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 164.10000000000002 m 561.5 164.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 162.10000000000002 m 561.5 162.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 147.10000000000002 m 473.5 147.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 389.5 145.10000000000002 m 473.5 145.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 147.10000000000002 m 561.5 147.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 477.5 145.10000000000002 m 561.5 145.10000000000002 l s BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.00 267.59 Td (\($ in thousands, except per square foot data\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 441.65 267.59 Td (First Quarter) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 418.75 252.59 Td (2015) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 506.75 252.59 Td (2014) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.00 235.94 Td (Total revenue) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 392.00 235.94 Td ($) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 435.65 235.94 Td (14,055) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 480.00 235.94 Td ($) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 523.65 235.94 Td (13,027) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 52.00 218.94 Td (Property operating expenses) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 441.75 218.99 Td (5,028) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 529.75 218.99 Td (4,777) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 52.00 201.94 Td (Net Operating Income \(NOI\)) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 392.00 201.94 Td ($) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 441.75 201.99 Td (9,027) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 480.00 201.94 Td ($) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 529.75 201.99 Td (8,250) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 52.00 167.94 Td (Average annualized rental revenue per occupied square foot) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 392.00 167.94 Td ($) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 447.80 167.94 Td (9.74) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 480.00 167.94 Td ($) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 535.85 167.99 Td (9.32) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 52.00 150.94 Td (Average annualized contractual rent per occupied square foot) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 392.00 150.94 Td ($) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 447.80 150.94 Td (9.64) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 480.00 150.94 Td ($) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 535.85 150.99 Td (9.39) Tj ET Q BT /F1 10.00 Tf ET BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 127.40 Td (Same ) Tj ET Q q 0 0 0 rg BT 82.30 127.40 Td (store ) Tj ET Q q 0 0 0 rg BT 110.82 127.40 Td (revenues ) Tj ET Q q 0 0 0 rg BT 160.13 127.40 Td (increased ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 211.89 127.40 Td (7.9%) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 236.96 127.40 Td ( ) Tj ET Q q 0 0 0 rg BT 241.03 127.40 Td (in ) Tj ET Q q 0 0 0 rg BT 253.65 127.40 Td (the ) Tj ET Q q 0 0 0 rg BT 273.01 127.40 Td (first ) Tj ET Q q 0 0 0 rg BT 294.79 127.40 Td (quarter ) Tj ET Q q 0 0 0 rg BT 333.71 127.40 Td (of ) Tj ET Q q 0 0 0 rg BT 346.94 127.40 Td (2015 ) Tj ET Q q 0 0 0 rg BT 375.48 127.40 Td (compared ) Tj ET Q q 0 0 0 rg BT 428.46 127.40 Td (to ) Tj ET Q q 0 0 0 rg BT 441.69 127.40 Td (the ) Tj ET Q q 0 0 0 rg BT 461.05 127.40 Td (first ) Tj ET Q q 0 0 0 rg BT 482.83 127.40 Td (quarter ) Tj ET Q q 0 0 0 rg BT 521.75 127.40 Td (of ) Tj ET Q q 0 0 0 rg BT 534.98 127.40 Td (2014. ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 114.20 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 96.48 114.20 Td (increases ) Tj ET Q q 0 0 0 rg BT 146.51 114.20 Td (were ) Tj ET Q q 0 0 0 rg BT 173.30 114.20 Td (driven ) Tj ET Q q 0 0 0 rg BT 206.21 114.20 Td (by ) Tj ET Q q 0 0 0 rg BT 220.77 114.20 Td (a ) Tj ET Q q 0 0 0 rg BT 229.84 114.20 Td (260 ) Tj ET Q q 0 0 0 rg BT 251.14 114.20 Td (basis ) Tj ET Q q 0 0 0 rg BT 279.77 114.20 Td (point ) Tj ET Q q 0 0 0 rg BT 306.57 114.20 Td (increase ) Tj ET Q q 0 0 0 rg BT 351.10 114.20 Td (in ) Tj ET Q q 0 0 0 rg BT 362.61 114.20 Td (average ) Tj ET Q q 0 0 0 rg BT 405.31 114.20 Td (occupancy ) Tj ET Q q 0 0 0 rg BT 460.85 114.20 Td (for ) Tj ET Q q 0 0 0 rg BT 476.63 114.20 Td (the ) Tj ET Q q 0 0 0 rg BT 494.87 114.20 Td (first ) Tj ET Q q 0 0 0 rg BT 515.54 114.20 Td (quarter ) Tj ET Q q 0 0 0 rg BT 553.34 114.20 Td (of ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 101.00 Td (2015 ) Tj ET Q q 0 0 0 rg BT 77.52 101.00 Td (compared ) Tj ET Q q 0 0 0 rg BT 129.99 101.00 Td (to ) Tj ET Q q 0 0 0 rg BT 142.71 101.00 Td (the ) Tj ET Q q 0 0 0 rg BT 161.56 101.00 Td (first ) Tj ET Q q 0 0 0 rg BT 182.83 101.00 Td (quarter ) Tj ET Q q 0 0 0 rg BT 221.23 101.00 Td (of ) Tj ET Q q 0 0 0 rg BT 233.96 101.00 Td (2014, ) Tj ET Q q 0 0 0 rg BT 265.04 101.00 Td (combined ) Tj ET Q q 0 0 0 rg BT 316.28 101.00 Td (with ) Tj ET Q q 0 0 0 rg BT 339.40 101.00 Td (a ) Tj ET Q q 0 0 0 rg BT 349.07 101.00 Td (4.5% ) Tj ET Q q 0 0 0 rg BT 377.69 101.00 Td (increase ) Tj ET Q q 0 0 0 rg BT 422.82 101.00 Td (in ) Tj ET Q q 0 0 0 rg BT 434.93 101.00 Td (average ) Tj ET Q q 0 0 0 rg BT 478.24 101.00 Td (annualized ) Tj ET Q q 0 0 0 rg BT 535.00 101.00 Td (rental ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 87.80 Td (revenue ) Tj ET Q q 0 0 0 rg BT 92.31 87.80 Td (per ) Tj ET Q q 0 0 0 rg BT 111.26 87.80 Td (occupied ) Tj ET Q q 0 0 0 rg BT 158.35 87.80 Td (square ) Tj ET Q q 0 0 0 rg BT 195.04 87.80 Td (foot ) Tj ET Q q 0 0 0 rg BT 216.44 87.80 Td (compared ) Tj ET Q q 0 0 0 rg BT 268.42 87.80 Td (to ) Tj ET Q q 0 0 0 rg BT 280.65 87.80 Td (the ) Tj ET Q q 0 0 0 rg BT 298.99 87.80 Td (prior ) Tj ET Q q 0 0 0 rg BT 324.05 87.80 Td (year) Tj ET Q q 0 0 0 rg BT 344.85 87.80 Td (.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 68.60 Td (Same ) Tj ET Q q 0 0 0 rg BT 81.29 68.60 Td (store ) Tj ET Q q 0 0 0 rg BT 108.80 68.60 Td (NOI ) Tj ET Q q 0 0 0 rg BT 131.41 68.60 Td (in ) Tj ET Q q 0 0 0 rg BT 143.03 68.60 Td (the ) Tj ET Q q 0 0 0 rg BT 161.38 68.60 Td (first ) Tj ET Q q 0 0 0 rg BT 182.16 68.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 220.06 68.60 Td (increased ) Tj ET Q q 0 0 0 rg BT 270.82 68.60 Td (9.4% ) Tj ET Q q 0 0 0 rg BT 298.94 68.60 Td (to ) Tj ET Q q 0 0 0 rg BT 311.17 68.60 Td (over ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 335.63 68.60 Td ($9.0 ) Tj ET Q q 0 0 0 rg BT 360.09 68.60 Td (million) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 391.27 68.60 Td ( ) Tj ET Q q 0 0 0 rg BT 394.32 68.60 Td (in ) Tj ET Q q 0 0 0 rg BT 405.94 68.60 Td (2015 ) Tj ET Q q 0 0 0 rg BT 433.47 68.60 Td (from ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 458.52 68.60 Td ($8.3 ) Tj ET Q q 0 0 0 rg BT 482.99 68.60 Td (million) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 514.16 68.60 Td ( ) Tj ET Q q 0 0 0 rg BT 517.22 68.60 Td (in ) Tj ET Q q 0 0 0 rg BT 528.84 68.60 Td (2014.) Tj ET Q /GS0 gs q 57.00 0 0 47.00 50.00 732.50 cm /I4 Do Q endstream endobj 11 0 obj <> endobj 12 0 obj <> stream BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.20 33.25 Td (3) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 712.00 Td (Investment ) Tj ET Q q 0 0 0 rg BT 110.22 712.00 Td (Activity) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 692.80 Td (NSA) Tj ET Q q 0 0 0 rg BT 71.51 692.80 Td ( ) Tj ET Q q 0 0 0 rg BT 74.99 692.80 Td (acquired ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 120.66 692.80 Td (six) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 134.10 692.80 Td ( ) Tj ET Q q 0 0 0 rg BT 137.58 692.80 Td (properties ) Tj ET Q q 0 0 0 rg BT 189.97 692.80 Td (during ) Tj ET Q q 0 0 0 rg BT 224.03 692.80 Td (the ) Tj ET Q q 0 0 0 rg BT 242.80 692.80 Td (first ) Tj ET Q q 0 0 0 rg BT 263.99 692.80 Td (quarter ) Tj ET Q q 0 0 0 rg BT 302.32 692.80 Td (of ) Tj ET Q q 0 0 0 rg BT 314.97 692.80 Td (2015 ) Tj ET Q q 0 0 0 rg BT 342.92 692.80 Td (with ) Tj ET Q q 0 0 0 rg BT 365.96 692.80 Td (an ) Tj ET Q q 0 0 0 rg BT 381.67 692.80 Td (estimated ) Tj ET Q q 0 0 0 rg BT 432.84 692.80 Td (fair ) Tj ET Q q 0 0 0 rg BT 451.60 692.80 Td (value ) Tj ET Q q 0 0 0 rg BT 481.37 692.80 Td (of ) Tj ET Q q 0 0 0 rg BT 494.02 692.80 Td (approximately ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 679.60 Td ($41 ) Tj ET Q q 0 0 0 rg BT 69.90 679.60 Td (million, ) Tj ET Q q 0 0 0 rg BT 106.19 679.60 Td (comprising ) Tj ET Q q 0 0 0 rg BT 161.42 679.60 Td (approximately ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 231.95 679.60 Td (0.4 ) Tj ET Q q 0 0 0 rg BT 249.29 679.60 Td (million) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 280.47 679.60 Td ( ) Tj ET Q q 0 0 0 rg BT 282.52 679.60 Td (rentable ) Tj ET Q q 0 0 0 rg BT 324.32 679.60 Td (square ) Tj ET Q q 0 0 0 rg BT 360.01 679.60 Td (feet ) Tj ET Q q 0 0 0 rg BT 380.41 679.60 Td (configured ) Tj ET Q q 0 0 0 rg BT 433.83 679.60 Td (in ) Tj ET Q q 0 0 0 rg BT 444.44 679.60 Td (over ) Tj ET Q q 0 0 0 rg BT 467.89 679.60 Td (3,400 ) Tj ET Q q 0 0 0 rg BT 497.47 679.60 Td (storage ) Tj ET Q q 0 0 0 rg BT 536.21 679.60 Td (units. ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 666.40 Td (All ) Tj ET Q q 0 0 0 rg BT 64.18 666.40 Td (six ) Tj ET Q q 0 0 0 rg BT 80.08 666.40 Td (of ) Tj ET Q q 0 0 0 rg BT 91.71 666.40 Td (these ) Tj ET Q q 0 0 0 rg BT 121.08 666.40 Td (properties ) Tj ET Q q 0 0 0 rg BT 172.45 666.40 Td (were ) Tj ET Q q 0 0 0 rg BT 198.75 666.40 Td (acquired ) Tj ET Q q 0 0 0 rg BT 243.41 666.40 Td (by ) Tj ET Q q 0 0 0 rg BT 257.48 666.40 Td (the ) Tj ET Q q 0 0 0 rg BT 275.23 666.40 Td (Company ) Tj ET Q q 0 0 0 rg BT 324.77 666.40 Td (from ) Tj ET Q q 0 0 0 rg BT 349.22 666.40 Td (its ) Tj ET Q q 0 0 0 rg BT 362.68 666.40 Td (participating ) Tj ET Q q 0 0 0 rg BT 424.45 666.40 Td (regional ) Tj ET Q q 0 0 0 rg BT 466.05 666.40 Td (operators ) Tj ET Q q 0 0 0 rg BT 514.98 666.40 Td (\("PROs"\).) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 647.20 Td (In ) Tj ET Q q 0 0 0 rg BT 61.06 647.20 Td (connection ) Tj ET Q q 0 0 0 rg BT 116.66 647.20 Td (with ) Tj ET Q q 0 0 0 rg BT 138.61 647.20 Td (the ) Tj ET Q q 0 0 0 rg BT 156.29 647.20 Td (completion ) Tj ET Q q 0 0 0 rg BT 211.87 647.20 Td (of ) Tj ET Q q 0 0 0 rg BT 223.44 647.20 Td (NSA's ) Tj ET Q q 0 0 0 rg BT 256.04 647.20 Td (IPO ) Tj ET Q q 0 0 0 rg BT 277.38 647.20 Td (during ) Tj ET Q q 0 0 0 rg BT 310.35 647.20 Td (the ) Tj ET Q q 0 0 0 rg BT 328.03 647.20 Td (second ) Tj ET Q q 0 0 0 rg BT 365.89 647.20 Td (quarter ) Tj ET Q q 0 0 0 rg BT 403.13 647.20 Td (of ) Tj ET Q q 0 0 0 rg BT 414.69 647.20 Td (2015, ) Tj ET Q q 0 0 0 rg BT 444.61 647.20 Td (the ) Tj ET Q q 0 0 0 rg BT 462.29 647.20 Td (Company ) Tj ET Q q 0 0 0 rg BT 511.76 647.20 Td (completed ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 634.00 Td (the ) Tj ET Q q 0 0 0 rg BT 69.30 634.00 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 125.78 634.00 Td (of ) Tj ET Q q 0 0 0 rg BT 139.46 634.00 Td (an ) Tj ET Q q 0 0 0 rg BT 156.20 634.00 Td (additional ) Tj ET Q q 0 0 0 rg BT 207.80 634.00 Td (21 ) Tj ET Q q 0 0 0 rg BT 224.55 634.00 Td (self ) Tj ET Q q 0 0 0 rg BT 246.17 634.00 Td (storage ) Tj ET Q q 0 0 0 rg BT 287.37 634.00 Td (properties ) Tj ET Q q 0 0 0 rg BT 340.79 634.00 Td (located ) Tj ET Q q 0 0 0 rg BT 380.77 634.00 Td (in ) Tj ET Q q 0 0 0 rg BT 393.84 634.00 Td (seven ) Tj ET Q q 0 0 0 rg BT 427.70 634.00 Td (states ) Tj ET Q q 0 0 0 rg BT 461.55 634.00 Td (for ) Tj ET Q q 0 0 0 rg BT 478.89 634.00 Td (an ) Tj ET Q q 0 0 0 rg BT 495.64 634.00 Td (investment ) Tj ET Q q 0 0 0 rg BT 553.33 634.00 Td (of ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 620.80 Td (approximately ) Tj ET Q q 0 0 0 rg BT 124.89 620.80 Td ($93 ) Tj ET Q q 0 0 0 rg BT 150.15 620.80 Td (million, ) Tj ET Q q 0 0 0 rg BT 191.29 620.80 Td (comprising ) Tj ET Q q 0 0 0 rg BT 251.38 620.80 Td (approximately ) Tj ET Q q 0 0 0 rg BT 326.77 620.80 Td (1.3million ) Tj ET Q q 0 0 0 rg BT 383.20 620.80 Td (rentable ) Tj ET Q q 0 0 0 rg BT 429.86 620.80 Td (square ) Tj ET Q q 0 0 0 rg BT 470.40 620.80 Td (feet ) Tj ET Q q 0 0 0 rg BT 495.66 620.80 Td (configured ) Tj ET Q q 0 0 0 rg BT 553.94 620.80 Td (in ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 607.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 120.69 607.60 Td (9,300 ) Tj ET Q q 0 0 0 rg BT 150.93 607.60 Td (storage ) Tj ET Q q 0 0 0 rg BT 190.34 607.60 Td (units. ) Tj ET Q q 0 0 0 rg BT 219.34 607.60 Td (Of ) Tj ET Q q 0 0 0 rg BT 233.67 607.60 Td (these ) Tj ET Q q 0 0 0 rg BT 263.29 607.60 Td (acquisitions, ) Tj ET Q q 0 0 0 rg BT 326.54 607.60 Td (four ) Tj ET Q q 0 0 0 rg BT 348.21 607.60 Td (were ) Tj ET Q q 0 0 0 rg BT 374.76 607.60 Td (acquired ) Tj ET Q q 0 0 0 rg BT 419.67 607.60 Td (by ) Tj ET Q q 0 0 0 rg BT 434.01 607.60 Td (NSA) Tj ET Q q 0 0 0 rg BT 456.02 607.60 Td ( ) Tj ET Q q 0 0 0 rg BT 458.73 607.60 Td (from ) Tj ET Q q 0 0 0 rg BT 483.45 607.60 Td (its ) Tj ET Q q 0 0 0 rg BT 497.16 607.60 Td (PROs ) Tj ET Q q 0 0 0 rg BT 529.21 607.60 Td (and ) Tj ET Q q 0 0 0 rg BT 550.28 607.60 Td (17 ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 594.40 Td (were ) Tj ET Q q 0 0 0 rg BT 76.40 594.40 Td (acquired ) Tj ET Q q 0 0 0 rg BT 121.65 594.40 Td (from ) Tj ET Q q 0 0 0 rg BT 146.71 594.40 Td (third-party ) Tj ET Q q 0 0 0 rg BT 199.28 594.40 Td (sellers.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 575.20 Td (These ) Tj ET Q q 0 0 0 rg BT 83.93 575.20 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 145.26 575.20 Td (increase ) Tj ET Q q 0 0 0 rg BT 190.69 575.20 Td (NSA's ) Tj ET Q q 0 0 0 rg BT 224.76 575.20 Td (total ) Tj ET Q q 0 0 0 rg BT 249.41 575.20 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 292.40 575.20 Td (to ) Tj ET Q q 0 0 0 rg BT 305.42 575.20 Td (246 ) Tj ET Q q 0 0 0 rg BT 327.63 575.20 Td (self ) Tj ET Q q 0 0 0 rg BT 348.60 575.20 Td (storage ) Tj ET Q q 0 0 0 rg BT 389.15 575.20 Td (properties ) Tj ET Q q 0 0 0 rg BT 441.92 575.20 Td (located ) Tj ET Q q 0 0 0 rg BT 481.24 575.20 Td (in ) Tj ET Q q 0 0 0 rg BT 493.66 575.20 Td (16 ) Tj ET Q q 0 0 0 rg BT 509.75 575.20 Td (states ) Tj ET Q q 0 0 0 rg BT 542.95 575.20 Td (with ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 562.00 Td (approximately ) Tj ET Q q 0 0 0 rg BT 121.03 562.00 Td (14 ) Tj ET Q q 0 0 0 rg BT 136.32 562.00 Td (million ) Tj ET Q q 0 0 0 rg BT 170.55 562.00 Td (net ) Tj ET Q q 0 0 0 rg BT 188.90 562.00 Td (rentable ) Tj ET Q q 0 0 0 rg BT 231.71 562.00 Td (square ) Tj ET Q q 0 0 0 rg BT 268.40 562.00 Td (feet ) Tj ET Q q 0 0 0 rg BT 289.80 562.00 Td (in ) Tj ET Q q 0 0 0 rg BT 301.42 562.00 Td (over ) Tj ET Q q 0 0 0 rg BT 325.88 562.00 Td (100,000 ) Tj ET Q q 0 0 0 rg BT 368.69 562.00 Td (storage ) Tj ET Q q 0 0 0 rg BT 408.44 562.00 Td (units.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 542.80 Td (Debt ) Tj ET Q q 0 0 0 rg BT 77.00 542.80 Td (and ) Tj ET Q q 0 0 0 rg BT 99.61 542.80 Td (Credit ) Tj ET Q q 0 0 0 rg BT 134.45 542.80 Td (Facility ) Tj ET Q q 0 0 0 rg BT 175.00 542.80 Td (Activity) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 523.60 Td (Following ) Tj ET Q q 0 0 0 rg BT 100.02 523.60 Td (the ) Tj ET Q q 0 0 0 rg BT 119.37 523.60 Td (completion ) Tj ET Q q 0 0 0 rg BT 176.62 523.60 Td (of ) Tj ET Q q 0 0 0 rg BT 189.85 523.60 Td (the ) Tj ET Q q 0 0 0 rg BT 209.20 523.60 Td (Company's ) Tj ET Q q 0 0 0 rg BT 267.93 523.60 Td (IPO ) Tj ET Q q 0 0 0 rg BT 290.94 523.60 Td (during ) Tj ET Q q 0 0 0 rg BT 325.57 523.60 Td (the ) Tj ET Q q 0 0 0 rg BT 344.92 523.60 Td (second ) Tj ET Q q 0 0 0 rg BT 384.45 523.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 423.35 523.60 Td (of ) Tj ET Q q 0 0 0 rg BT 436.58 523.60 Td (2015, ) Tj ET Q q 0 0 0 rg BT 468.17 523.60 Td (NSA) Tj ET Q q 0 0 0 rg BT 490.18 523.60 Td ( ) Tj ET Q q 0 0 0 rg BT 494.23 523.60 Td (repaid ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 528.87 523.60 Td ($229.8 ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 510.40 Td (million) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 80.67 510.40 Td ( ) Tj ET Q q 0 0 0 rg BT 83.73 510.40 Td (of ) Tj ET Q q 0 0 0 rg BT 95.96 510.40 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 155.90 510.40 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 224.39 510.40 Td (as ) Tj ET Q q 0 0 0 rg BT 239.07 510.40 Td (shown ) Tj ET Q q 0 0 0 rg BT 273.92 510.40 Td (in ) Tj ET Q q 0 0 0 rg BT 285.54 510.40 Td (the ) Tj ET Q q 0 0 0 rg BT 303.89 510.40 Td (table ) Tj ET Q q 0 0 0 rg BT 330.79 510.40 Td (below ) Tj ET Q q 0 0 0 rg BT 362.59 510.40 Td (\($ ) Tj ET Q q 0 0 0 rg BT 375.43 510.40 Td (in ) Tj ET Q q 0 0 0 rg BT 387.05 510.40 Td (thousands\): ) Tj ET Q q 0 0 0 rg BT 447.58 510.40 Td ( ) Tj ET Q 0.6745098039215687 0.6745098039215687 0.6745098039215687 rg /GS0 gs 49.00 493.90 283.00 -15.00 re f /GS0 gs 0.6745098039215687 0.6745098039215687 0.6745098039215687 rg /GS0 gs 332.00 493.90 113.00 -15.00 re f /GS0 gs 0.6745098039215687 0.6745098039215687 0.6745098039215687 rg /GS0 gs 445.00 493.90 4.00 -15.00 re f /GS0 gs 0.6745098039215687 0.6745098039215687 0.6745098039215687 rg /GS0 gs 449.00 493.90 113.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 434.90 283.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.00 434.90 113.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 434.90 4.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 434.90 113.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 400.90 283.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 332.00 400.90 113.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 445.00 400.90 4.00 -17.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 449.00 400.90 113.00 -17.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 478.9 m 445 478.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 478.9 m 562 478.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 451.9 m 445 451.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 451.9 m 562 451.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 400.9 m 445 400.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 384.9 m 445 384.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 382.9 m 445 382.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 400.9 m 562 400.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 384.9 m 562 384.9 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 449 382.9 m 562 382.9 l s BT /F3 11.00 Tf ET q 0 0 0 rg BT 337.25 467.74 Td (Effective Rate as of) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 348.85 456.74 Td (March 31, 2015) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 481.75 456.74 Td (Principal) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 51.50 439.74 Td (Unsecured Term Loan) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 372.40 439.74 Td (5.18%) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 451.50 439.74 Td ($) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 524.15 439.74 Td (50,000) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 51.50 422.74 Td (Variable rate mortgages payable) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 372.40 422.74 Td (4.69%) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 524.15 422.74 Td (83,500) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 51.50 405.74 Td (Revolving line of credit) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 372.40 405.74 Td (2.78%) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 524.15 405.74 Td (96,300) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 69.50 388.74 Td (Total/Weighted Average) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 372.40 388.74 Td (4.00%) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 451.50 388.74 Td ($) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 518.00 388.79 Td (229,800) Tj ET Q BT /F1 10.00 Tf ET BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 348.20 Td (As ) Tj ET Q q 0 0 0 rg BT 66.46 348.20 Td (a ) Tj ET Q q 0 0 0 rg BT 76.70 348.20 Td (result ) Tj ET Q q 0 0 0 rg BT 107.72 348.20 Td (of ) Tj ET Q q 0 0 0 rg BT 121.01 348.20 Td (the ) Tj ET Q q 0 0 0 rg BT 140.43 348.20 Td (overall ) Tj ET Q q 0 0 0 rg BT 176.95 348.20 Td (reduction ) Tj ET Q q 0 0 0 rg BT 226.32 348.20 Td (in ) Tj ET Q q 0 0 0 rg BT 239.01 348.20 Td (NSA's ) Tj ET Q q 0 0 0 rg BT 273.35 348.20 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 334.35 348.20 Td (indebtedness, ) Tj ET Q q 0 0 0 rg BT 406.97 348.20 Td (pricing ) Tj ET Q q 0 0 0 rg BT 443.49 348.20 Td (grids ) Tj ET Q q 0 0 0 rg BT 471.46 348.20 Td (for ) Tj ET Q q 0 0 0 rg BT 488.42 348.20 Td (the ) Tj ET Q q 0 0 0 rg BT 507.83 348.20 Td (Company's ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 335.00 Td (revolving ) Tj ET Q q 0 0 0 rg BT 96.17 335.00 Td (line ) Tj ET Q q 0 0 0 rg BT 115.94 335.00 Td (of ) Tj ET Q q 0 0 0 rg BT 127.77 335.00 Td (credit ) Tj ET Q q 0 0 0 rg BT 157.31 335.00 Td (and ) Tj ET Q q 0 0 0 rg BT 178.31 335.00 Td (term ) Tj ET Q q 0 0 0 rg BT 202.96 335.00 Td (loan ) Tj ET Q q 0 0 0 rg BT 226.41 335.00 Td (were ) Tj ET Q q 0 0 0 rg BT 252.90 335.00 Td (reduced ) Tj ET Q q 0 0 0 rg BT 295.30 335.00 Td (by ) Tj ET Q q 0 0 0 rg BT 309.57 335.00 Td (100 ) Tj ET Q q 0 0 0 rg BT 330.57 335.00 Td (basis ) Tj ET Q q 0 0 0 rg BT 358.90 335.00 Td (points ) Tj ET Q q 0 0 0 rg BT 390.90 335.00 Td (to ) Tj ET Q q 0 0 0 rg BT 402.72 335.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 441.44 335.00 Td (rates ) Tj ET Q q 0 0 0 rg BT 468.55 335.00 Td (equal ) Tj ET Q q 0 0 0 rg BT 498.11 335.00 Td (to ) Tj ET Q q 0 0 0 rg BT 509.93 335.00 Td (one-month ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 321.80 Td (LIBOR ) Tj ET Q q 0 0 0 rg BT 85.57 321.80 Td (plus ) Tj ET Q q 0 0 0 rg BT 108.80 321.80 Td (1.60% ) Tj ET Q q 0 0 0 rg BT 143.05 321.80 Td (and ) Tj ET Q q 0 0 0 rg BT 164.46 321.80 Td (one-month ) Tj ET Q q 0 0 0 rg BT 220.10 321.80 Td (LIBOR ) Tj ET Q q 0 0 0 rg BT 256.17 321.80 Td (plus ) Tj ET Q q 0 0 0 rg BT 279.40 321.80 Td (1.50%, ) Tj ET Q q 0 0 0 rg BT 316.71 321.80 Td (respectively) Tj ET Q q 0 0 0 rg BT 373.97 321.80 Td (.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 302.60 Td (Distributions ) Tj ET Q q 0 0 0 rg BT 120.39 302.60 Td (and ) Tj ET Q q 0 0 0 rg BT 143.00 302.60 Td (Dividends) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 283.40 Td (On ) Tj ET Q q 0 0 0 rg BT 65.99 283.40 Td (April ) Tj ET Q q 0 0 0 rg BT 90.26 283.40 Td (30, ) Tj ET Q q 0 0 0 rg BT 107.81 283.40 Td (2015, ) Tj ET Q q 0 0 0 rg BT 137.60 283.40 Td (NSA) Tj ET Q q 0 0 0 rg BT 159.61 283.40 Td ( ) Tj ET Q q 0 0 0 rg BT 161.88 283.40 Td (paid ) Tj ET Q q 0 0 0 rg BT 184.94 283.40 Td (an ) Tj ET Q q 0 0 0 rg BT 199.44 283.40 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 241.44 283.40 Td (distribution ) Tj ET Q q 0 0 0 rg BT 296.90 283.40 Td (of ) Tj ET Q q 0 0 0 rg BT 308.34 283.40 Td ($0.19 ) Tj ET Q q 0 0 0 rg BT 338.13 283.40 Td (per ) Tj ET Q q 0 0 0 rg BT 356.29 283.40 Td (OP) Tj ET Q q 0 0 0 rg BT 371.98 283.40 Td ( ) Tj ET Q q 0 0 0 rg BT 374.25 283.40 Td (unit ) Tj ET Q q 0 0 0 rg BT 394.25 283.40 Td (to ) Tj ET Q q 0 0 0 rg BT 405.68 283.40 Td (unitholders ) Tj ET Q q 0 0 0 rg BT 461.76 283.40 Td (of ) Tj ET Q q 0 0 0 rg BT 473.20 283.40 Td (record ) Tj ET Q q 0 0 0 rg BT 506.64 283.40 Td (as ) Tj ET Q q 0 0 0 rg BT 520.52 283.40 Td (of ) Tj ET Q q 0 0 0 rg BT 531.96 283.40 Td (March ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 270.20 Td (31, ) Tj ET Q q 0 0 0 rg BT 67.24 270.20 Td (2015 ) Tj ET Q q 0 0 0 rg BT 94.16 270.20 Td (as ) Tj ET Q q 0 0 0 rg BT 108.22 270.20 Td (well ) Tj ET Q q 0 0 0 rg BT 129.62 270.20 Td (as ) Tj ET Q q 0 0 0 rg BT 143.68 270.20 Td (an ) Tj ET Q q 0 0 0 rg BT 158.37 270.20 Td (ordinary ) Tj ET Q q 0 0 0 rg BT 200.55 270.20 Td (distribution ) Tj ET Q q 0 0 0 rg BT 256.20 270.20 Td (of ) Tj ET Q q 0 0 0 rg BT 267.82 270.20 Td ($0.04 ) Tj ET Q q 0 0 0 rg BT 297.79 270.20 Td (per ) Tj ET Q q 0 0 0 rg BT 316.14 270.20 Td (OP) Tj ET Q q 0 0 0 rg BT 331.83 270.20 Td ( ) Tj ET Q q 0 0 0 rg BT 334.28 270.20 Td (unit ) Tj ET Q q 0 0 0 rg BT 354.46 270.20 Td (to ) Tj ET Q q 0 0 0 rg BT 366.08 270.20 Td (unitholders ) Tj ET Q q 0 0 0 rg BT 422.34 270.20 Td (of ) Tj ET Q q 0 0 0 rg BT 433.96 270.20 Td (record ) Tj ET Q q 0 0 0 rg BT 467.59 270.20 Td (as ) Tj ET Q q 0 0 0 rg BT 481.66 270.20 Td (of ) Tj ET Q q 0 0 0 rg BT 492.79 270.20 Td (April ) Tj ET Q q 0 0 0 rg BT 517.24 270.20 Td (20, ) Tj ET Q q 0 0 0 rg BT 534.98 270.20 Td (2015.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 251.00 Td (In ) Tj ET Q q 0 0 0 rg BT 63.40 251.00 Td (addition, ) Tj ET Q q 0 0 0 rg BT 109.71 251.00 Td (the ) Tj ET Q q 0 0 0 rg BT 129.73 251.00 Td (Company's ) Tj ET Q q 0 0 0 rg BT 189.13 251.00 Td (Board ) Tj ET Q q 0 0 0 rg BT 223.21 251.00 Td (of ) Tj ET Q q 0 0 0 rg BT 236.80 251.00 Td (T) Tj ET Q q 0 0 0 rg BT 243.12 251.00 Td (rustees ) Tj ET Q q 0 0 0 rg BT 283.91 251.00 Td (declared ) Tj ET Q q 0 0 0 rg BT 330.83 251.00 Td (a ) Tj ET Q q 0 0 0 rg BT 341.68 251.00 Td (dividend ) Tj ET Q q 0 0 0 rg BT 387.38 251.00 Td (of ) Tj ET Q q 0 0 0 rg BT 401.28 251.00 Td ($0.15 ) Tj ET Q q 0 0 0 rg BT 433.53 251.00 Td (per ) Tj ET Q q 0 0 0 rg BT 454.15 251.00 Td (common ) Tj ET Q q 0 0 0 rg BT 501.06 251.00 Td (share ) Tj ET Q q 0 0 0 rg BT 533.30 251.00 Td (and ) Tj ET Q q 0 0 0 rg BT 556.38 251.00 Td (a ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 237.80 Td (distribution ) Tj ET Q q 0 0 0 rg BT 105.93 237.80 Td (of ) Tj ET Q q 0 0 0 rg BT 118.33 237.80 Td ($0.15 ) Tj ET Q q 0 0 0 rg BT 149.09 237.80 Td (per ) Tj ET Q q 0 0 0 rg BT 168.22 237.80 Td (OP) Tj ET Q q 0 0 0 rg BT 183.91 237.80 Td ( ) Tj ET Q q 0 0 0 rg BT 187.14 237.80 Td (unit ) Tj ET Q q 0 0 0 rg BT 208.11 237.80 Td (for ) Tj ET Q q 0 0 0 rg BT 224.18 237.80 Td (the ) Tj ET Q q 0 0 0 rg BT 242.70 237.80 Td (remainder ) Tj ET Q q 0 0 0 rg BT 295.45 237.80 Td (of ) Tj ET Q q 0 0 0 rg BT 307.86 237.80 Td (the ) Tj ET Q q 0 0 0 rg BT 326.38 237.80 Td (second ) Tj ET Q q 0 0 0 rg BT 365.08 237.80 Td (quarter ) Tj ET Q q 0 0 0 rg BT 403.17 237.80 Td (of ) Tj ET Q q 0 0 0 rg BT 415.57 237.80 Td (2015 ) Tj ET Q q 0 0 0 rg BT 443.27 237.80 Td (following ) Tj ET Q q 0 0 0 rg BT 489.31 237.80 Td (the ) Tj ET Q q 0 0 0 rg BT 507.83 237.80 Td (Company's ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 224.60 Td (IPO, ) Tj ET Q q 0 0 0 rg BT 74.56 224.60 Td (for ) Tj ET Q q 0 0 0 rg BT 90.45 224.60 Td (common ) Tj ET Q q 0 0 0 rg BT 135.69 224.60 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 202.34 224.60 Td (of ) Tj ET Q q 0 0 0 rg BT 214.57 224.60 Td (record ) Tj ET Q q 0 0 0 rg BT 248.81 224.60 Td (as ) Tj ET Q q 0 0 0 rg BT 263.48 224.60 Td (of ) Tj ET Q q 0 0 0 rg BT 275.71 224.60 Td (June ) Tj ET Q q 0 0 0 rg BT 302.62 224.60 Td (30, ) Tj ET Q q 0 0 0 rg BT 320.97 224.60 Td (2015.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 205.40 Td (Supplemental ) Tj ET Q q 0 0 0 rg BT 124.68 205.40 Td (Financial ) Tj ET Q q 0 0 0 rg BT 175.41 205.40 Td (Information) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 186.20 Td (The ) Tj ET Q q 0 0 0 rg BT 73.02 186.20 Td (full ) Tj ET Q q 0 0 0 rg BT 91.64 186.20 Td (text ) Tj ET Q q 0 0 0 rg BT 113.93 186.20 Td (of ) Tj ET Q q 0 0 0 rg BT 127.66 186.20 Td (this ) Tj ET Q q 0 0 0 rg BT 149.34 186.20 Td (earnings ) Tj ET Q q 0 0 0 rg BT 196.10 186.20 Td (release ) Tj ET Q q 0 0 0 rg BT 236.73 186.20 Td (and ) Tj ET Q q 0 0 0 rg BT 259.65 186.20 Td (supplemental ) Tj ET Q q 0 0 0 rg BT 329.64 186.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 374.56 186.20 Td (information, ) Tj ET Q q 0 0 0 rg BT 436.59 186.20 Td (including ) Tj ET Q q 0 0 0 rg BT 484.57 186.20 Td (certain ) Tj ET Q q 0 0 0 rg BT 522.15 186.20 Td (financial ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 173.00 Td (information ) Tj ET Q q 0 0 0 rg BT 105.52 173.00 Td (referenced ) Tj ET Q q 0 0 0 rg BT 159.71 173.00 Td (in ) Tj ET Q q 0 0 0 rg BT 169.88 173.00 Td (this ) Tj ET Q q 0 0 0 rg BT 188.60 173.00 Td (release ) Tj ET Q q 0 0 0 rg BT 226.29 173.00 Td (are ) Tj ET Q q 0 0 0 rg BT 243.79 173.00 Td (available ) Tj ET Q q 0 0 0 rg BT 288.82 173.00 Td (on ) Tj ET Q q 0 0 0 rg BT 302.66 173.00 Td (NSA's ) Tj ET Q q 0 0 0 rg BT 334.48 173.00 Td (website ) Tj ET Q q 0 0 0 rg BT 373.38 173.00 Td (at ) Tj ET Q q 0 0 0 rg BT 384.16 173.00 Td (http://ir) Tj ET Q q 0 0 0 rg BT 417.18 173.00 Td (.nationalstorageaf) Tj ET Q q 0 0 0 rg BT 504.43 173.00 Td (filiates.com/) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 159.80 Td (sec-filings ) Tj ET Q q 0 0 0 rg BT 101.46 159.80 Td (and ) Tj ET Q q 0 0 0 rg BT 122.87 159.80 Td (as ) Tj ET Q q 0 0 0 rg BT 137.54 159.80 Td (exhibit ) Tj ET Q q 0 0 0 rg BT 172.40 159.80 Td (99.1 ) Tj ET Q q 0 0 0 rg BT 196.86 159.80 Td (to ) Tj ET Q q 0 0 0 rg BT 209.09 159.80 Td (the ) Tj ET Q q 0 0 0 rg BT 227.44 159.80 Td (Company's ) Tj ET Q q 0 0 0 rg BT 285.17 159.80 Td (Form ) Tj ET Q q 0 0 0 rg BT 313.89 159.80 Td (8-K ) Tj ET Q q 0 0 0 rg BT 334.07 159.80 Td (furnished ) Tj ET Q q 0 0 0 rg BT 382.37 159.80 Td (to ) Tj ET Q q 0 0 0 rg BT 394.60 159.80 Td (the ) Tj ET Q q 0 0 0 rg BT 412.95 159.80 Td (SEC ) Tj ET Q q 0 0 0 rg BT 438.63 159.80 Td (on ) Tj ET Q q 0 0 0 rg BT 453.92 159.80 Td (June ) Tj ET Q q 0 0 0 rg BT 480.83 159.80 Td (5, ) Tj ET Q q 0 0 0 rg BT 493.06 159.80 Td (2015.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 140.60 Td (Non-GAAP) Tj ET Q q 0 0 0 rg BT 106.13 140.60 Td ( ) Tj ET Q q 0 0 0 rg BT 109.18 140.60 Td (Financial ) Tj ET Q q 0 0 0 rg BT 159.92 140.60 Td (Measures ) Tj ET Q q 0 0 0 rg BT 213.73 140.60 Td (& ) Tj ET Q q 0 0 0 rg BT 224.73 140.60 Td (Glossary) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 121.40 Td (This ) Tj ET Q q 0 0 0 rg BT 76.13 121.40 Td (press ) Tj ET Q q 0 0 0 rg BT 108.89 121.40 Td (release ) Tj ET Q q 0 0 0 rg BT 150.82 121.40 Td (contains ) Tj ET Q q 0 0 0 rg BT 197.64 121.40 Td (certain ) Tj ET Q q 0 0 0 rg BT 236.51 121.40 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 288.90 121.40 Td ( ) Tj ET Q q 0 0 0 rg BT 294.75 121.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 340.96 121.40 Td (measures. ) Tj ET Q q 0 0 0 rg BT 397.79 121.40 Td (These ) Tj ET Q q 0 0 0 rg BT 434.21 121.40 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 486.60 121.40 Td ( ) Tj ET Q q 0 0 0 rg BT 492.45 121.40 Td (measures ) Tj ET Q q 0 0 0 rg BT 546.60 121.40 Td (are ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 108.20 Td (presented ) Tj ET Q q 0 0 0 rg BT 104.67 108.20 Td (because ) Tj ET Q q 0 0 0 rg BT 152.50 108.20 Td (NSA's ) Tj ET Q q 0 0 0 rg BT 188.96 108.20 Td (management ) Tj ET Q q 0 0 0 rg BT 259.41 108.20 Td (believes ) Tj ET Q q 0 0 0 rg BT 306.01 108.20 Td (these ) Tj ET Q q 0 0 0 rg BT 339.16 108.20 Td (measures ) Tj ET Q q 0 0 0 rg BT 393.70 108.20 Td (help ) Tj ET Q q 0 0 0 rg BT 420.74 108.20 Td (investors ) Tj ET Q q 0 0 0 rg BT 471.00 108.20 Td (understand ) Tj ET Q q 0 0 0 rg BT 532.28 108.20 Td (NSA's ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 95.00 Td (business, ) Tj ET Q q 0 0 0 rg BT 98.76 95.00 Td (performance ) Tj ET Q q 0 0 0 rg BT 163.31 95.00 Td (and ) Tj ET Q q 0 0 0 rg BT 184.46 95.00 Td (ability ) Tj ET Q q 0 0 0 rg BT 215.37 95.00 Td (to ) Tj ET Q q 0 0 0 rg BT 227.34 95.00 Td (earn ) Tj ET Q q 0 0 0 rg BT 252.15 95.00 Td (and ) Tj ET Q q 0 0 0 rg BT 273.30 95.00 Td (distribute ) Tj ET Q q 0 0 0 rg BT 320.72 95.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 346.75 95.00 Td (to ) Tj ET Q q 0 0 0 rg BT 358.72 95.00 Td (its ) Tj ET Q q 0 0 0 rg BT 372.51 95.00 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 438.90 95.00 Td (by ) Tj ET Q q 0 0 0 rg BT 453.31 95.00 Td (providing ) Tj ET Q q 0 0 0 rg BT 500.74 95.00 Td (perspectives ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 81.80 Td (not ) Tj ET Q q 0 0 0 rg BT 68.22 81.80 Td (immediately ) Tj ET Q q 0 0 0 rg BT 130.33 81.80 Td (apparent ) Tj ET Q q 0 0 0 rg BT 177.18 81.80 Td (from ) Tj ET Q q 0 0 0 rg BT 202.60 81.80 Td (net ) Tj ET Q q 0 0 0 rg BT 221.32 81.80 Td (income ) Tj ET Q q 0 0 0 rg BT 260.20 81.80 Td (\(loss\). ) Tj ET Q q 0 0 0 rg BT 293.35 81.80 Td (These ) Tj ET Q q 0 0 0 rg BT 327.34 81.80 Td (measures ) Tj ET Q q 0 0 0 rg BT 379.07 81.80 Td (are ) Tj ET Q q 0 0 0 rg BT 398.39 81.80 Td (also ) Tj ET Q q 0 0 0 rg BT 421.99 81.80 Td (frequently ) Tj ET Q q 0 0 0 rg BT 473.73 81.80 Td (used ) Tj ET Q q 0 0 0 rg BT 501.00 81.80 Td 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Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 470.80 Td (About ) Tj ET Q q 0 0 0 rg BT 84.32 470.80 Td (National ) Tj ET Q q 0 0 0 rg BT 130.77 470.80 Td (Storage ) Tj ET Q q 0 0 0 rg BT 174.37 470.80 Td (Affiliates ) Tj ET Q q 0 0 0 rg BT 223.88 470.80 Td (T) Tj ET Q q 0 0 0 rg BT 230.00 470.80 Td (rust) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 451.60 Td (National ) Tj ET Q q 0 0 0 rg BT 94.71 451.60 Td (Storage ) Tj ET Q q 0 0 0 rg BT 137.13 451.60 Td (Af) Tj ET Q q 0 0 0 rg BT 147.32 451.60 Td (filiates ) Tj ET Q q 0 0 0 rg BT 183.04 451.60 Td (T) Tj ET Q q 0 0 0 rg BT 189.35 451.60 Td (rust ) Tj ET Q q 0 0 0 rg BT 212.54 451.60 Td (is ) Tj ET Q q 0 0 0 rg BT 225.33 451.60 Td (a ) Tj ET Q q 0 0 0 rg BT 236.30 451.60 Td (Maryland ) Tj ET Q q 0 0 0 rg BT 286.39 451.60 Td (real ) Tj ET Q q 0 0 0 rg BT 309.59 451.60 Td (estate ) Tj ET Q q 0 0 0 rg BT 344.41 451.60 Td (investment ) Tj ET Q q 0 0 0 rg BT 402.45 451.60 Td (trust ) Tj ET Q q 0 0 0 rg BT 428.69 451.60 Td (focused ) Tj ET Q q 0 0 0 rg BT 472.07 451.60 Td (on ) Tj ET Q q 0 0 0 rg BT 489.16 451.60 Td (the ) Tj ET Q q 0 0 0 rg BT 509.30 451.60 Td (ownership, ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 438.40 Td (operation ) Tj ET Q q 0 0 0 rg BT 98.16 438.40 Td (and ) Tj ET Q q 0 0 0 rg BT 119.31 438.40 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 174.07 438.40 Td (of ) Tj ET Q q 0 0 0 rg BT 186.04 438.40 Td (self ) Tj ET Q q 0 0 0 rg BT 205.95 438.40 Td (storage ) Tj ET Q q 0 0 0 rg BT 245.43 438.40 Td (properties ) Tj ET Q q 0 0 0 rg BT 297.14 438.40 Td (located ) Tj ET Q q 0 0 0 rg BT 335.40 438.40 Td (within ) Tj ET Q q 0 0 0 rg BT 366.32 438.40 Td (the ) Tj ET Q q 0 0 0 rg BT 384.40 438.40 Td (top ) Tj ET Q q 0 0 0 rg BT 402.48 438.40 Td (100 ) Tj ET Q q 0 0 0 rg BT 423.63 438.40 Td (metropolitan ) Tj ET Q q 0 0 0 rg BT 486.95 438.40 Td (statistical ) Tj ET Q q 0 0 0 rg BT 534.98 438.40 Td (areas ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 425.20 Td (throughout ) Tj ET Q q 0 0 0 rg BT 104.07 425.20 Td (the ) Tj ET Q q 0 0 0 rg BT 121.34 425.20 Td (United ) Tj ET Q q 0 0 0 rg BT 155.11 425.20 Td (States. ) Tj ET Q q 0 0 0 rg BT 191.19 425.20 Td (The ) Tj ET Q q 0 0 0 rg BT 212.12 425.20 Td (Company ) Tj ET Q q 0 0 0 rg BT 261.17 425.20 Td (currently ) Tj ET Q q 0 0 0 rg BT 305.32 425.20 Td (owns ) Tj ET Q q 0 0 0 rg BT 332.97 425.20 Td (and ) Tj ET Q q 0 0 0 rg BT 353.30 425.20 Td (operates ) Tj ET Q q 0 0 0 rg BT 398.08 425.20 Td (246 ) Tj ET Q q 0 0 0 rg BT 418.40 425.20 Td (self ) Tj ET Q q 0 0 0 rg BT 437.49 425.20 Td (storage ) Tj ET Q q 0 0 0 rg BT 476.16 425.20 Td (properties ) Tj ET Q q 0 0 0 rg BT 527.04 425.20 Td (located ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 412.00 Td (in ) Tj ET Q q 0 0 0 rg BT 60.80 412.00 Td (16 ) Tj ET Q q 0 0 0 rg BT 75.76 412.00 Td (states ) Tj ET Q q 0 0 0 rg BT 107.85 412.00 Td (with ) Tj ET Q q 0 0 0 rg BT 130.14 412.00 Td (approximately ) Tj ET Q q 0 0 0 rg BT 201.35 412.00 Td (14 ) Tj ET Q q 0 0 0 rg BT 216.32 412.00 Td (million ) Tj ET Q q 0 0 0 rg BT 250.23 412.00 Td (rentable ) Tj ET Q q 0 0 0 rg BT 292.71 412.00 Td (square ) Tj ET Q q 0 0 0 rg BT 329.08 412.00 Td (feet. ) Tj ET Q q 0 0 0 rg BT 353.22 412.00 Td (NSA) Tj ET Q q 0 0 0 rg BT 375.23 412.00 Td ( ) Tj ET Q q 0 0 0 rg BT 377.96 412.00 Td (is ) Tj ET Q q 0 0 0 rg BT 388.64 412.00 Td (the ) Tj ET Q q 0 0 0 rg BT 406.67 412.00 Td (sixth ) Tj ET Q q 0 0 0 rg BT 432.02 412.00 Td (largest ) Tj ET Q q 0 0 0 rg BT 467.77 412.00 Td (owner ) Tj ET Q q 0 0 0 rg BT 500.46 412.00 Td (and ) Tj ET Q q 0 0 0 rg BT 521.55 412.00 Td (operator ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 398.80 Td (of ) Tj ET Q q 0 0 0 rg BT 63.35 398.80 Td (self ) Tj ET Q q 0 0 0 rg BT 85.14 398.80 Td (storage ) Tj ET Q q 0 0 0 rg BT 126.50 398.80 Td (properties ) Tj ET Q q 0 0 0 rg BT 180.09 398.80 Td (among ) Tj ET Q q 0 0 0 rg BT 218.40 398.80 Td (public ) Tj ET Q q 0 0 0 rg BT 251.81 398.80 Td (and ) Tj ET Q q 0 0 0 rg BT 274.84 398.80 Td (private ) Tj ET Q q 0 0 0 rg BT 312.53 398.80 Td (companies. ) Tj ET Q q 0 0 0 rg BT 373.45 398.80 Td (For ) Tj ET Q q 0 0 0 rg BT 394.62 398.80 Td (more ) Tj ET Q q 0 0 0 rg BT 424.36 398.80 Td (information, ) Tj ET Q q 0 0 0 rg BT 486.50 398.80 Td (please ) Tj ET Q q 0 0 0 rg BT 523.59 398.80 Td (visit ) Tj ET Q q 0 0 0 rg BT 547.21 398.80 Td (the ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 385.60 Td (Company) Tj ET Q q 0 0 0 rg BT 98.82 385.60 Td (s ) Tj ET Q q 0 0 0 rg BT 107.38 385.60 Td (website ) Tj ET Q q 0 0 0 rg BT 147.73 385.60 Td (at ) Tj ET Q BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 1 RG /GS0 gs 0.81 w 0 i [] 0 d 1 J 1 j 3 M 159.9619140625 384.031640625 m 325.4560546875 384.031640625 l s q 0 0 1 rg BT 159.96 385.60 Td (www) Tj ET Q q 0 0 1 rg BT 183.19 385.60 Td (.nationalstorageaf) Tj ET Q q 0 0 1 rg BT 270.44 385.60 Td (filiates.com) Tj ET Q BT /F2 11.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 325.46 385.60 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 173.75 348.40 Td (NOTE REGARDING FOR) Tj ET Q q 0 0 0 rg BT 289.13 348.40 Td (W) Tj ET Q q 0 0 0 rg BT 298.01 348.40 Td (ARD LOOKING ST) Tj ET Q q 0 0 0 rg BT 383.94 348.40 Td (A) Tj ET Q q 0 0 0 rg BT 390.42 348.40 Td (TEMENTS) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 49.50 324.40 Td (NSA) Tj ET Q q 0 0 0 rg BT 69.69 324.40 Td ( ) Tj ET Q q 0 0 0 rg BT 71.76 324.40 Td (makes ) Tj ET Q q 0 0 0 rg BT 103.29 324.40 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 173.72 324.40 Td (statements ) Tj ET Q q 0 0 0 rg BT 224.70 324.40 Td (in ) Tj ET Q q 0 0 0 rg BT 234.56 324.40 Td (this ) Tj ET Q q 0 0 0 rg BT 252.19 324.40 Td (press ) Tj ET Q q 0 0 0 rg BT 278.72 324.40 Td (release ) Tj ET Q q 0 0 0 rg BT 313.58 324.40 Td (that ) Tj ET Q q 0 0 0 rg BT 332.34 324.40 Td (are ) Tj ET Q q 0 0 0 rg BT 348.86 324.40 Td (subject ) Tj ET Q q 0 0 0 rg BT 382.62 324.40 Td (to ) Tj ET Q q 0 0 0 rg BT 393.03 324.40 Td (risks ) Tj ET Q q 0 0 0 rg BT 415.65 324.40 Td (and ) Tj ET Q q 0 0 0 rg BT 434.41 324.40 Td (uncertainties. ) Tj ET Q q 0 0 0 rg BT 495.96 324.40 Td (These ) Tj ET Q q 0 0 0 rg BT 525.82 324.40 Td (forward-) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 49.50 312.40 Td (looking ) Tj ET Q q 0 0 0 rg BT 84.08 312.40 Td (statements ) Tj ET Q q 0 0 0 rg BT 135.89 312.40 Td (include ) Tj ET Q q 0 0 0 rg BT 170.47 312.40 Td (information ) Tj ET Q q 0 0 0 rg BT 222.83 312.40 Td (about ) Tj ET Q q 0 0 0 rg BT 250.75 312.40 Td (possible ) Tj ET Q q 0 0 0 rg BT 290.33 312.40 Td (or ) Tj ET Q q 0 0 0 rg BT 302.12 312.40 Td (assumed ) Tj ET Q q 0 0 0 rg BT 345.59 312.40 Td (future ) Tj ET Q q 0 0 0 rg BT 374.05 312.40 Td (results ) Tj ET Q q 0 0 0 rg BT 406.40 312.40 Td (of ) Tj ET Q q 0 0 0 rg BT 417.63 312.40 Td (our ) Tj ET Q q 0 0 0 rg BT 434.98 312.40 Td (business, ) Tj ET Q q 0 0 0 rg BT 480.12 312.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 519.70 312.40 Td (condition, ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 49.50 300.40 Td (liquidity) Tj ET Q q 0 0 0 rg BT 82.11 300.40 Td (, ) Tj ET Q q 0 0 0 rg BT 89.24 300.40 Td (results ) Tj ET Q q 0 0 0 rg BT 123.04 300.40 Td (of ) Tj ET Q q 0 0 0 rg BT 135.73 300.40 Td (operations, ) Tj ET Q q 0 0 0 rg BT 189.56 300.40 Td (plans ) Tj ET Q q 0 0 0 rg BT 217.81 300.40 Td (and ) Tj ET Q q 0 0 0 rg BT 238.85 300.40 Td (objectives. ) Tj ET Q q 0 0 0 rg BT 290.44 300.40 Td (When ) Tj ET Q q 0 0 0 rg BT 320.92 300.40 Td (NSA) Tj ET Q q 0 0 0 rg BT 341.11 300.40 Td ( ) Tj ET Q q 0 0 0 rg BT 345.46 300.40 Td (uses ) Tj ET Q q 0 0 0 rg BT 370.93 300.40 Td (the ) Tj ET Q q 0 0 0 rg BT 389.18 300.40 Td (words ) Tj ET Q q 0 0 0 rg BT 420.21 300.40 Td ("believe," ) Tj ET Q q 0 0 0 rg BT 466.12 300.40 Td ("expect," ) Tj ET Q q 0 0 0 rg BT 509.82 300.40 Td ("anticipate," ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 49.50 288.40 Td ("estimate," ) Tj ET Q q 0 0 0 rg BT 98.94 288.40 Td ("plan," ) Tj ET Q q 0 0 0 rg BT 129.50 288.40 Td ("continue," ) Tj ET Q q 0 0 0 rg BT 178.96 288.40 Td ("intend," ) Tj ET Q q 0 0 0 rg BT 217.85 288.40 Td ("should," ) Tj ET Q q 0 0 0 rg BT 258.97 288.40 Td ("may) Tj ET Q q 0 0 0 rg BT 280.67 288.40 Td (," ) Tj ET Q q 0 0 0 rg BT 288.77 288.40 Td (or ) Tj ET Q q 0 0 0 rg BT 299.43 288.40 Td (similar ) Tj ET Q q 0 0 0 rg BT 330.09 288.40 Td (expressions, ) Tj ET Q q 0 0 0 rg BT 388.00 288.40 Td (the ) Tj ET Q q 0 0 0 rg BT 403.67 288.40 Td (Company ) Tj ET Q q 0 0 0 rg BT 448.24 288.40 Td (intends ) Tj ET Q q 0 0 0 rg BT 482.26 288.40 Td (to ) Tj ET Q q 0 0 0 rg BT 492.37 288.40 Td (identify ) Tj ET Q q 0 0 0 rg BT 525.82 288.40 Td (forward-) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 49.50 276.40 Td (looking ) Tj ET Q q 0 0 0 rg BT 83.97 276.40 Td (statements.) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 49.50 258.40 Td (The ) Tj ET Q q 0 0 0 rg BT 69.86 258.40 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 141.36 258.40 Td (statements ) Tj ET Q q 0 0 0 rg BT 193.40 258.40 Td (contained ) Tj ET Q q 0 0 0 rg BT 239.90 258.40 Td (in ) Tj ET Q q 0 0 0 rg BT 250.81 258.40 Td (this ) Tj ET Q q 0 0 0 rg BT 269.51 258.40 Td (press ) Tj ET Q q 0 0 0 rg BT 297.09 258.40 Td (release ) Tj ET Q q 0 0 0 rg BT 333.02 258.40 Td (reflect ) Tj ET Q q 0 0 0 rg BT 363.38 258.40 Td (NSA's ) Tj ET Q q 0 0 0 rg BT 393.98 258.40 Td (current ) Tj ET Q q 0 0 0 rg BT 428.24 258.40 Td (views ) Tj ET Q q 0 0 0 rg BT 456.37 258.40 Td (about ) Tj ET Q q 0 0 0 rg BT 484.53 258.40 Td (future ) Tj ET Q q 0 0 0 rg BT 513.23 258.40 Td (events ) Tj ET Q q 0 0 0 rg BT 545.82 258.40 Td (and ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 49.50 246.40 Td (are ) Tj ET Q q 0 0 0 rg BT 67.09 246.40 Td (subject ) Tj ET Q q 0 0 0 rg BT 101.90 246.40 Td (to ) Tj ET Q q 0 0 0 rg BT 113.37 246.40 Td (numerous ) Tj ET Q q 0 0 0 rg BT 160.97 246.40 Td (known ) Tj ET Q q 0 0 0 rg BT 193.01 246.40 Td (and ) Tj ET Q q 0 0 0 rg BT 212.83 246.40 Td (unknown ) Tj ET Q q 0 0 0 rg BT 255.99 246.40 Td (risks, ) Tj ET Q q 0 0 0 rg BT 282.45 246.40 Td (uncertainties, ) Tj ET Q q 0 0 0 rg BT 345.06 246.40 Td (assumptions, ) Tj ET Q q 0 0 0 rg BT 407.11 246.40 Td (and ) Tj ET Q q 0 0 0 rg BT 426.93 246.40 Td (changes ) Tj ET Q q 0 0 0 rg BT 467.87 246.40 Td (in ) Tj ET Q q 0 0 0 rg BT 478.78 246.40 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 545.82 246.40 Td (that ) Tj ET Q BT /F5 10.00 Tf ET q 0 0 0 rg BT 49.50 234.40 Td (may ) Tj ET Q q 0 0 0 rg BT 70.78 234.40 Td (cause ) Tj ET Q q 0 0 0 rg BT 99.86 234.40 Td (the ) Tj ET Q q 0 0 0 rg BT 116.15 234.40 Td (Company's ) Tj ET Q q 0 0 0 rg BT 168.25 234.40 Td (actual ) Tj ET Q q 0 0 0 rg BT 197.32 234.40 Td (results ) Tj ET Q q 0 0 0 rg BT 229.16 234.40 Td (to ) Tj ET Q q 0 0 0 rg BT 239.89 234.40 Td (differ ) Tj ET Q q 0 0 0 rg BT 264.51 234.40 Td (significantly ) Tj ET Q q 0 0 0 rg BT 318.59 234.40 Td (from ) Tj ET Q q 0 0 0 rg BT 340.98 234.40 Td (those ) Tj ET Q q 0 0 0 rg BT 367.84 234.40 Td (expressed ) Tj ET Q q 0 0 0 rg BT 416.37 234.40 Td (in ) Tj ET Q q 0 0 0 rg BT 426.54 234.40 Td (any ) Tj ET Q q 0 0 0 rg BT 445.05 234.40 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 515.81 234.40 Td (statement.) 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(2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 51.50 606.12 Td (Net loss) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 418.50 606.12 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 454.75 606.12 Td (\(2,771) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 483.15 606.12 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.50 606.12 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 529.75 606.12 Td (\(2,803) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 558.15 606.12 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 591.12 Td (Add \(subtract\):) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.50 576.12 Td (Real estate depreciation and amortization) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.10 576.12 Td (9,806) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.10 576.12 Td (3,801) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.50 561.12 Td (Distributions on subordinated performance units) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 272.84 565.89 Td ( \(1\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 454.75 561.12 Td (\(3,275) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 483.15 561.12 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 538.10 561.12 Td (\(626) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 558.15 561.12 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 74.00 546.12 Td (FFO attributable to common shareholders and OP unitholders) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 458.10 546.12 Td (3,760) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 541.45 546.12 Td (372) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 531.12 Td (Add:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.50 516.12 Td (Acquisition costs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 466.45 516.12 Td (599) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 541.45 516.12 Td (182) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.50 501.12 Td (Organizational and offering expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 472.00 501.12 Td (58) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 541.45 501.12 Td (235) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 74.00 486.12 Td (Core FFO attributable to common shareholders and OP unitholders) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 418.50 486.12 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 458.10 486.12 Td (4,417) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.50 486.12 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 541.45 486.12 Td (789) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 51.50 441.12 Td (W) Tj ET Q q 0 0 0 rg BT 60.76 441.12 Td (eighted average shares and units outstanding - FFO and Core FFO:) Tj ET Q BT /F3 10.00 Tf ET BT /F3 6.50 Tf ET q 0 0 0 rg BT 380.24 445.89 Td ( \(2\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 426.12 Td (Weighted average shares outstanding - basic) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 477.55 426.12 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.55 426.12 Td (1) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 411.12 Td (W) Tj ET Q q 0 0 0 rg BT 60.76 411.12 Td (eighted average operating partnership units outstanding ) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 310.93 415.89 Td (\(3\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 452.55 411.12 Td (19,205) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.10 411.12 Td (9,263) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 396.12 Td (Weighted average DownREIT operating partnership unit equivalents outstanding) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 458.10 396.12 Td (1,386) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 548.15 396.12 Td () Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 60.50 381.12 Td (Total weighted average shares and units outstanding - FFO and Core FFO) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 452.55 381.12 Td (20,592) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 533.10 381.12 Td (9,264) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 51.50 336.12 Td (FFO per share and unit) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 418.50 336.12 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.65 336.12 Td (0.18) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.50 336.12 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 538.65 336.12 Td (0.04) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 51.50 321.12 Td (Core FFO per share and unit) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 418.50 321.12 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 463.65 321.12 Td (0.21) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 493.50 321.12 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 538.65 321.12 Td (0.09) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 216.18 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 63.90 216.18 Td ( ) Tj ET Q q 0 0 0 rg BT 66.52 216.18 Td (Distributions ) Tj ET Q q 0 0 0 rg BT 113.16 216.18 Td (to ) Tj ET Q q 0 0 0 rg BT 122.45 216.18 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 171.33 216.18 Td (performance ) Tj ET Q q 0 0 0 rg BT 218.86 216.18 Td (unitholders ) Tj ET Q q 0 0 0 rg BT 260.62 216.18 Td (classified ) Tj ET Q q 0 0 0 rg BT 296.14 216.18 Td (as ) Tj ET Q q 0 0 0 rg BT 307.21 216.18 Td (noncontrolling ) Tj ET Q q 0 0 0 rg BT 359.64 216.18 Td (interests ) Tj ET Q q 0 0 0 rg BT 392.50 216.18 Td (are ) Tj ET Q q 0 0 0 rg BT 406.68 216.18 Td (included ) Tj ET Q q 0 0 0 rg BT 439.11 216.18 Td (as ) Tj ET Q q 0 0 0 rg BT 450.18 216.18 Td (an ) Tj ET Q q 0 0 0 rg BT 461.70 216.18 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 503.45 216.18 Td (to ) Tj ET Q q 0 0 0 rg BT 512.74 216.18 Td (eliminate ) Tj ET Q q 0 0 0 rg BT 547.38 216.18 Td (the ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 65.00 208.18 Td (noncontrolling ) Tj ET Q q 0 0 0 rg BT 117.89 208.18 Td (interests) Tj ET Q q 0 0 0 rg BT 149.75 208.18 Td ( ) Tj ET Q q 0 0 0 rg BT 152.68 208.18 Td (share ) Tj ET Q q 0 0 0 rg BT 175.76 208.18 Td (of ) Tj ET Q q 0 0 0 rg BT 185.51 208.18 Td (FFO ) Tj ET Q q 0 0 0 rg BT 204.58 208.18 Td (for ) Tj ET Q q 0 0 0 rg BT 216.99 208.18 Td (purposes ) Tj ET Q q 0 0 0 rg BT 252.98 208.18 Td (of ) Tj ET Q q 0 0 0 rg BT 262.72 208.18 Td (calculating ) Tj ET Q q 0 0 0 rg BT 303.60 208.18 Td (FFO ) Tj ET Q q 0 0 0 rg BT 322.67 208.18 Td (attributable ) Tj ET Q q 0 0 0 rg BT 365.33 208.18 Td (to ) Tj ET Q q 0 0 0 rg BT 375.07 208.18 Td (common ) Tj ET Q q 0 0 0 rg BT 408.82 208.18 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 458.15 208.18 Td (and ) Tj ET Q q 0 0 0 rg BT 474.57 208.18 Td (OP) Tj ET Q q 0 0 0 rg BT 486.06 208.18 Td ( ) Tj ET Q q 0 0 0 rg BT 489.06 208.18 Td (and ) Tj ET Q q 0 0 0 rg BT 505.48 208.18 Td (DownREIT) Tj ET Q q 0 0 0 rg BT 544.08 208.18 Td ( ) Tj ET Q q 0 0 0 rg BT 547.09 208.18 Td (OP) Tj ET Q q 0 0 0 rg BT 558.57 208.18 Td ( ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 65.00 200.18 Td (unitholders. ) Tj ET Q q 0 0 0 rg BT 108.67 200.18 Td (Amounts ) Tj ET Q q 0 0 0 rg BT 142.62 200.18 Td (represent ) Tj ET Q q 0 0 0 rg BT 179.02 200.18 Td (distributions ) Tj ET Q q 0 0 0 rg BT 224.31 200.18 Td (declared ) Tj ET Q q 0 0 0 rg BT 257.60 200.18 Td (for ) Tj ET Q q 0 0 0 rg BT 269.54 200.18 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 318.40 200.18 Td (performance ) Tj ET Q q 0 0 0 rg BT 365.91 200.18 Td (unitholders ) Tj ET Q q 0 0 0 rg BT 407.65 200.18 Td (and ) Tj ET Q q 0 0 0 rg BT 423.60 200.18 Td (DownREIT) Tj ET Q q 0 0 0 rg BT 462.20 200.18 Td ( ) Tj ET Q q 0 0 0 rg BT 464.73 200.18 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 513.59 200.18 Td (performance ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 65.00 192.18 Td (unitholders ) Tj ET Q q 0 0 0 rg BT 106.81 192.18 Td (for ) Tj ET Q q 0 0 0 rg BT 118.81 192.18 Td (the ) Tj ET Q q 0 0 0 rg BT 132.60 192.18 Td (periods ) Tj ET Q q 0 0 0 rg BT 161.51 192.18 Td (presented. ) Tj ET Q q 0 0 0 rg BT 201.88 192.18 Td (These ) Tj ET Q q 0 0 0 rg BT 226.72 192.18 Td (distributions ) Tj ET Q q 0 0 0 rg BT 272.07 192.18 Td (were ) Tj ET Q q 0 0 0 rg BT 292.08 192.18 Td (declared ) Tj ET Q q 0 0 0 rg BT 325.44 192.18 Td (and ) Tj ET Q q 0 0 0 rg BT 341.46 192.18 Td (paid ) Tj ET Q q 0 0 0 rg BT 359.25 192.18 Td (to ) Tj ET Q q 0 0 0 rg BT 368.60 192.18 Td (unitholders ) Tj ET Q q 0 0 0 rg BT 410.40 192.18 Td (of ) Tj ET Q q 0 0 0 rg BT 419.74 192.18 Td (record ) Tj ET Q q 0 0 0 rg BT 445.09 192.18 Td (as ) Tj ET Q q 0 0 0 rg BT 456.21 192.18 Td (of ) Tj ET Q q 0 0 0 rg BT 465.55 192.18 Td (March ) Tj ET Q q 0 0 0 rg BT 490.45 192.18 Td (31, ) Tj ET Q q 0 0 0 rg BT 504.24 192.18 Td (2015 ) Tj ET Q q 0 0 0 rg BT 524.71 192.18 Td (and ) Tj ET Q q 0 0 0 rg BT 540.72 192.18 Td (2014 ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 65.00 184.18 Td (during ) Tj ET Q q 0 0 0 rg BT 89.08 184.18 Td (the ) Tj ET Q q 0 0 0 rg BT 102.04 184.18 Td (periods ) Tj ET Q q 0 0 0 rg BT 130.12 184.18 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 173.33 184.18 Td (to ) Tj ET Q q 0 0 0 rg BT 181.85 184.18 Td (March ) Tj ET Q q 0 0 0 rg BT 205.91 184.18 Td (31, ) Tj ET Q q 0 0 0 rg BT 218.88 184.18 Td (2015 ) Tj ET Q q 0 0 0 rg BT 238.52 184.18 Td (and ) Tj ET Q q 0 0 0 rg BT 253.71 184.18 Td (2014, ) Tj ET Q q 0 0 0 rg BT 275.57 184.18 Td (respectively) Tj ET Q q 0 0 0 rg BT 317.51 184.18 Td (, ) Tj ET Q q 0 0 0 rg BT 321.28 184.18 Td (and ) Tj ET Q q 0 0 0 rg BT 336.46 184.18 Td (therefore ) Tj ET Q q 0 0 0 rg BT 370.33 184.18 Td (the ) Tj ET Q q 0 0 0 rg BT 383.29 184.18 Td (amounts ) Tj ET Q q 0 0 0 rg BT 415.81 184.18 Td (are ) Tj ET Q q 0 0 0 rg BT 429.22 184.18 Td (not ) Tj ET Q q 0 0 0 rg BT 442.18 184.18 Td (reflected ) Tj ET Q q 0 0 0 rg BT 474.71 184.18 Td (in ) Tj ET Q q 0 0 0 rg BT 482.78 184.18 Td (the ) Tj ET Q q 0 0 0 rg BT 495.74 184.18 Td (historical ) Tj ET Q q 0 0 0 rg BT 529.15 184.18 Td (financial ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 65.00 176.18 Td (statements ) Tj ET Q q 0 0 0 rg BT 106.35 176.18 Td (for ) Tj ET Q q 0 0 0 rg BT 117.91 176.18 Td (the ) Tj ET Q q 0 0 0 rg BT 131.25 176.18 Td (periods ) Tj ET Q q 0 0 0 rg BT 159.71 176.18 Td (presented.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 164.18 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 63.28 164.18 Td ( ) Tj ET Q q 0 0 0 rg BT 65.29 164.18 Td (W) Tj ET Q q 0 0 0 rg BT 72.77 164.18 Td (e ) Tj ET Q q 0 0 0 rg BT 79.15 164.18 Td (combine ) Tj ET Q q 0 0 0 rg BT 111.40 164.18 Td (OP) Tj ET Q q 0 0 0 rg BT 122.88 164.18 Td ( ) Tj ET Q q 0 0 0 rg BT 124.82 164.18 Td (units ) Tj ET Q q 0 0 0 rg BT 143.72 164.18 Td (and ) Tj ET Q q 0 0 0 rg BT 159.08 164.18 Td (DownREIT) Tj ET Q q 0 0 0 rg BT 197.68 164.18 Td ( ) Tj ET Q q 0 0 0 rg BT 199.62 164.18 Td (OP) Tj ET Q q 0 0 0 rg BT 211.10 164.18 Td ( ) Tj ET Q q 0 0 0 rg BT 213.04 164.18 Td (units ) Tj ET Q q 0 0 0 rg BT 231.94 164.18 Td (with ) Tj ET Q q 0 0 0 rg BT 248.18 164.18 Td (common ) Tj ET Q q 0 0 0 rg BT 280.86 164.18 Td (shares ) Tj ET Q q 0 0 0 rg BT 306.88 164.18 Td (because, ) Tj ET Q q 0 0 0 rg BT 341.35 164.18 Td (after ) Tj ET Q q 0 0 0 rg BT 359.37 164.18 Td (the ) Tj ET Q q 0 0 0 rg BT 372.50 164.18 Td (applicable ) Tj ET Q q 0 0 0 rg BT 410.53 164.18 Td (lock-out ) Tj ET Q q 0 0 0 rg BT 440.55 164.18 Td (periods, ) Tj ET Q q 0 0 0 rg BT 471.02 164.18 Td (OP) Tj ET Q q 0 0 0 rg BT 482.50 164.18 Td ( ) Tj ET Q q 0 0 0 rg BT 484.44 164.18 Td (units ) Tj ET Q q 0 0 0 rg BT 503.34 164.18 Td (in ) Tj ET Q q 0 0 0 rg BT 511.58 164.18 Td (our ) Tj ET Q q 0 0 0 rg BT 525.15 164.18 Td (operating ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 65.00 156.18 Td (partnership ) Tj ET Q q 0 0 0 rg BT 107.09 156.18 Td (are ) Tj ET Q q 0 0 0 rg BT 120.71 156.18 Td (redeemable ) Tj ET Q q 0 0 0 rg BT 165.02 156.18 Td (for ) Tj ET Q q 0 0 0 rg BT 176.42 156.18 Td (cash ) Tj ET Q q 0 0 0 rg BT 195.38 156.18 Td (or) Tj ET Q q 0 0 0 rg BT 202.27 156.18 Td (, ) Tj ET Q q 0 0 0 rg BT 206.34 156.18 Td (at ) Tj ET Q q 0 0 0 rg BT 215.07 156.18 Td (our ) Tj ET Q q 0 0 0 rg BT 228.70 156.18 Td (option, ) Tj ET Q q 0 0 0 rg BT 254.78 156.18 Td (exchangeable ) Tj ET Q q 0 0 0 rg BT 306.66 156.18 Td (for ) Tj ET Q q 0 0 0 rg BT 318.06 156.18 Td (common ) Tj ET Q q 0 0 0 rg BT 350.79 156.18 Td (shares ) Tj ET Q q 0 0 0 rg BT 376.87 156.18 Td (on ) Tj ET Q q 0 0 0 rg BT 387.83 156.18 Td (a ) Tj ET Q q 0 0 0 rg BT 394.34 156.18 Td (one-for-one ) Tj ET Q q 0 0 0 rg BT 437.76 156.18 Td (basis ) Tj ET Q q 0 0 0 rg BT 458.50 156.18 Td (and ) Tj ET Q q 0 0 0 rg BT 473.91 156.18 Td (DownREIT) Tj ET Q q 0 0 0 rg BT 512.51 156.18 Td ( ) Tj ET Q q 0 0 0 rg BT 514.50 156.18 Td (OP) Tj ET Q q 0 0 0 rg BT 525.99 156.18 Td ( ) Tj ET Q q 0 0 0 rg BT 527.98 156.18 Td (units ) Tj ET Q q 0 0 0 rg BT 546.94 156.18 Td (are ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 65.00 148.18 Td (also ) Tj ET Q q 0 0 0 rg BT 81.90 148.18 Td (redeemable ) Tj ET Q q 0 0 0 rg BT 126.37 148.18 Td (for ) Tj ET Q q 0 0 0 rg BT 137.93 148.18 Td (cash ) Tj ET Q q 0 0 0 rg BT 157.05 148.18 Td (or) Tj ET Q q 0 0 0 rg BT 163.95 148.18 Td (, ) Tj ET Q q 0 0 0 rg BT 168.17 148.18 Td (at ) Tj ET Q q 0 0 0 rg BT 177.07 148.18 Td (our ) Tj ET Q q 0 0 0 rg BT 190.85 148.18 Td (option, ) Tj ET Q q 0 0 0 rg BT 217.10 148.18 Td (exchangeable ) Tj ET Q q 0 0 0 rg BT 269.14 148.18 Td (for ) Tj ET Q q 0 0 0 rg BT 280.70 148.18 Td (OP) Tj ET Q q 0 0 0 rg BT 292.19 148.18 Td ( ) Tj ET Q q 0 0 0 rg BT 294.34 148.18 Td (units ) Tj ET Q q 0 0 0 rg BT 313.46 148.18 Td (in ) Tj ET Q q 0 0 0 rg BT 321.91 148.18 Td (our ) Tj ET Q q 0 0 0 rg BT 335.70 148.18 Td (operating ) Tj ET Q q 0 0 0 rg BT 371.28 148.18 Td (partnership ) Tj ET Q q 0 0 0 rg BT 413.53 148.18 Td (on ) Tj ET Q q 0 0 0 rg BT 424.65 148.18 Td (a ) Tj ET Q q 0 0 0 rg BT 431.32 148.18 Td (one-for-one ) Tj ET Q q 0 0 0 rg BT 474.91 148.18 Td (basis, ) Tj ET Q q 0 0 0 rg BT 498.03 148.18 Td (subject ) Tj ET Q q 0 0 0 rg BT 525.60 148.18 Td (to ) Tj ET Q q 0 0 0 rg BT 534.49 148.18 Td (certain ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 65.00 140.18 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 109.56 140.18 Td (in ) Tj ET Q q 0 0 0 rg BT 117.22 140.18 Td (each ) Tj ET Q q 0 0 0 rg BT 136.00 140.18 Td (case. ) Tj ET Q q 0 0 0 rg BT 156.55 140.18 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 205.58 140.18 Td (performance ) Tj ET Q q 0 0 0 rg BT 251.92 140.18 Td (units, ) Tj ET Q q 0 0 0 rg BT 272.47 140.18 Td (DownREIT) Tj ET Q q 0 0 0 rg BT 311.08 140.18 Td ( ) Tj ET Q q 0 0 0 rg BT 312.44 140.18 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 360.13 140.18 Td (performance ) Tj ET Q q 0 0 0 rg BT 406.47 140.18 Td (units, ) Tj ET Q q 0 0 0 rg BT 427.02 140.18 Td (and ) Tj ET Q q 0 0 0 rg BT 441.80 140.18 Td (L) Tj ET Q q 0 0 0 rg BT 445.95 140.18 Td (TIP) Tj ET Q q 0 0 0 rg BT 458.03 140.18 Td ( ) Tj ET Q q 0 0 0 rg BT 459.39 140.18 Td (units ) Tj ET Q q 0 0 0 rg BT 477.72 140.18 Td (may ) Tj ET Q q 0 0 0 rg BT 494.26 140.18 Td (also, ) Tj ET Q q 0 0 0 rg BT 512.59 140.18 Td (under ) Tj ET Q q 0 0 0 rg BT 534.49 140.18 Td (certain ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 65.00 132.18 Td (circumstances, ) Tj ET Q q 0 0 0 rg BT 120.47 132.18 Td (be ) Tj ET Q q 0 0 0 rg BT 131.50 132.18 Td (convertible ) Tj ET Q q 0 0 0 rg BT 172.31 132.18 Td (into ) Tj ET Q q 0 0 0 rg BT 187.33 132.18 Td (or ) Tj ET Q q 0 0 0 rg BT 196.57 132.18 Td (exchangeable ) Tj ET Q q 0 0 0 rg BT 248.52 132.18 Td (for ) Tj ET Q q 0 0 0 rg BT 259.98 132.18 Td (common ) Tj ET Q q 0 0 0 rg BT 292.78 132.18 Td (shares ) Tj ET Q q 0 0 0 rg BT 318.91 132.18 Td (\(or ) Tj ET Q q 0 0 0 rg BT 330.82 132.18 Td (other ) Tj ET Q q 0 0 0 rg BT 351.18 132.18 Td (units ) Tj ET Q q 0 0 0 rg BT 370.20 132.18 Td (that ) Tj ET Q q 0 0 0 rg BT 385.67 132.18 Td (are ) Tj ET Q q 0 0 0 rg BT 399.36 132.18 Td (convertible ) Tj ET Q q 0 0 0 rg BT 440.17 132.18 Td (into ) Tj ET Q q 0 0 0 rg BT 455.19 132.18 Td (or ) Tj ET Q q 0 0 0 rg BT 464.43 132.18 Td (exchangeable ) Tj ET Q q 0 0 0 rg BT 516.38 132.18 Td (for ) Tj ET Q q 0 0 0 rg BT 527.84 132.18 Td (common ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 65.00 124.18 Td (shares\). ) Tj ET Q q 0 0 0 rg BT 95.83 124.18 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 145.35 124.18 Td (performance ) Tj ET Q q 0 0 0 rg BT 192.19 124.18 Td (units ) Tj ET Q q 0 0 0 rg BT 211.02 124.18 Td (and ) Tj ET Q q 0 0 0 rg BT 226.30 124.18 Td (DownREIT) Tj ET Q q 0 0 0 rg BT 264.90 124.18 Td ( ) Tj ET Q q 0 0 0 rg BT 266.76 124.18 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 314.95 124.18 Td (units ) Tj ET Q q 0 0 0 rg BT 333.77 124.18 Td (have ) Tj ET Q q 0 0 0 rg BT 353.05 124.18 Td (been ) Tj ET Q q 0 0 0 rg BT 372.78 124.18 Td (excluded ) Tj ET Q q 0 0 0 rg BT 406.73 124.18 Td (from ) Tj ET Q q 0 0 0 rg BT 424.66 124.18 Td (the ) Tj ET Q q 0 0 0 rg BT 437.71 124.18 Td (calculations ) Tj ET Q q 0 0 0 rg BT 481.44 124.18 Td (of ) Tj ET Q q 0 0 0 rg BT 490.04 124.18 Td (FFO ) Tj ET Q q 0 0 0 rg BT 507.97 124.18 Td (and ) Tj ET Q q 0 0 0 rg BT 523.25 124.18 Td (Core ) Tj ET Q q 0 0 0 rg BT 542.52 124.18 Td (FFO ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 65.00 116.18 Td (per ) Tj ET Q q 0 0 0 rg BT 79.08 116.18 Td (share ) Tj ET Q q 0 0 0 rg BT 101.61 116.18 Td (and ) Tj ET Q q 0 0 0 rg BT 117.47 116.18 Td (unit ) Tj ET Q q 0 0 0 rg BT 132.88 116.18 Td (as ) Tj ET Q q 0 0 0 rg BT 143.85 116.18 Td (their ) Tj ET Q q 0 0 0 rg BT 161.93 116.18 Td (ef) Tj ET Q q 0 0 0 rg BT 168.53 116.18 Td (fect ) Tj ET Q q 0 0 0 rg BT 183.86 116.18 Td (is ) Tj ET Q q 0 0 0 rg BT 192.16 116.18 Td (anti-dilutive. ) Tj ET Q q 0 0 0 rg BT 237.36 116.18 Td (L) Tj ET Q q 0 0 0 rg BT 241.51 116.18 Td (TIP) Tj ET Q q 0 0 0 rg BT 253.59 116.18 Td ( ) Tj ET Q q 0 0 0 rg BT 256.03 116.18 Td (units ) Tj ET Q q 0 0 0 rg BT 275.45 116.18 Td (have ) Tj ET Q q 0 0 0 rg BT 295.31 116.18 Td (been ) Tj ET Q q 0 0 0 rg BT 315.62 116.18 Td (excluded ) Tj ET Q q 0 0 0 rg BT 350.16 116.18 Td (from ) Tj ET Q q 0 0 0 rg BT 368.68 116.18 Td (the ) Tj ET Q q 0 0 0 rg BT 382.31 116.18 Td (calculations ) Tj ET Q q 0 0 0 rg BT 426.63 116.18 Td (of ) Tj ET Q q 0 0 0 rg BT 435.82 116.18 Td (FFO ) Tj ET Q q 0 0 0 rg BT 454.33 116.18 Td (and ) Tj ET Q q 0 0 0 rg BT 470.19 116.18 Td (Core ) Tj ET Q q 0 0 0 rg BT 490.05 116.18 Td (FFO ) Tj ET Q q 0 0 0 rg BT 508.56 116.18 Td (per ) Tj ET Q q 0 0 0 rg BT 522.64 116.18 Td (share ) Tj ET Q q 0 0 0 rg BT 545.16 116.18 Td (and ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 65.00 108.18 Td (unit ) Tj ET Q q 0 0 0 rg BT 80.12 108.18 Td (because ) Tj ET Q q 0 0 0 rg BT 112.59 108.18 Td (such ) Tj ET Q q 0 0 0 rg BT 131.71 108.18 Td (units ) Tj ET Q q 0 0 0 rg BT 150.83 108.18 Td (did ) Tj ET Q q 0 0 0 rg BT 163.73 108.18 Td (not ) Tj ET Q q 0 0 0 rg BT 177.07 108.18 Td (participate ) Tj ET Q q 0 0 0 rg BT 216.21 108.18 Td (in ) Tj ET Q q 0 0 0 rg BT 224.66 108.18 Td (distributions ) Tj ET Q q 0 0 0 rg BT 269.57 108.18 Td (prior ) Tj ET Q q 0 0 0 rg BT 287.79 108.18 Td (to ) Tj ET Q q 0 0 0 rg BT 296.69 108.18 Td (our ) Tj ET Q q 0 0 0 rg BT 310.47 108.18 Td (Company) Tj ET Q q 0 0 0 rg BT 346.42 108.18 Td (s ) Tj ET Q q 0 0 0 rg BT 352.57 108.18 Td (initial ) Tj ET Q q 0 0 0 rg BT 373.02 108.18 Td (public ) Tj ET Q q 0 0 0 rg BT 396.14 108.18 Td (of) Tj ET Q q 0 0 0 rg BT 402.74 108.18 Td (fering.) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 95.18 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 62.75 95.18 Td ( ) Tj ET Q q 0 0 0 rg BT 63.94 95.18 Td (Amount ) Tj ET Q q 0 0 0 rg BT 92.99 95.18 Td (for ) Tj ET Q q 0 0 0 rg BT 103.80 95.18 Td (the ) Tj ET Q q 0 0 0 rg BT 116.40 95.18 Td (three ) Tj ET Q q 0 0 0 rg BT 136.11 95.18 Td (months ) Tj ET Q q 0 0 0 rg BT 163.82 95.18 Td (March31, ) Tj ET Q q 0 0 0 rg BT 200.87 95.18 Td (2014 ) Tj ET Q q 0 0 0 rg BT 220.14 95.18 Td (includes ) Tj ET Q q 0 0 0 rg BT 250.97 95.18 Td (2,060,71) Tj ET Q q 0 0 0 rg BT 281.52 95.18 Td (1 ) Tj ET Q q 0 0 0 rg BT 287.44 95.18 Td (OP) Tj ET Q q 0 0 0 rg BT 298.86 95.18 Td ( ) Tj ET Q q 0 0 0 rg BT 300.33 95.18 Td (units ) Tj ET Q q 0 0 0 rg BT 318.71 95.18 Td (issued ) Tj ET Q q 0 0 0 rg BT 343.31 95.18 Td (in ) Tj ET Q q 0 0 0 rg BT 351.01 95.18 Td (connection ) Tj ET Q q 0 0 0 rg BT 391.19 95.18 Td (with ) Tj ET Q q 0 0 0 rg BT 406.89 95.18 Td (the ) Tj ET Q q 0 0 0 rg BT 419.49 95.18 Td (contribution ) Tj ET Q q 0 0 0 rg BT 462.33 95.18 Td (of ) Tj ET Q q 0 0 0 rg BT 470.47 95.18 Td (65 ) Tj ET Q q 0 0 0 rg BT 480.85 95.18 Td (self ) Tj ET Q q 0 0 0 rg BT 494.78 95.18 Td (storage ) Tj ET Q q 0 0 0 rg BT 522.94 95.18 Td (properties ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 65.00 87.18 Td (on ) Tj ET Q q 0 0 0 rg BT 75.38 87.18 Td (April ) Tj ET Q q 0 0 0 rg BT 93.23 87.18 Td (1, ) Tj ET Q q 0 0 0 rg BT 101.75 87.18 Td (2014 ) Tj ET Q q 0 0 0 rg BT 121.40 87.18 Td (by ) Tj ET Q q 0 0 0 rg BT 131.70 87.18 Td (SecurCare ) Tj ET Q q 0 0 0 rg BT 171.79 87.18 Td (Portfolio ) Tj ET Q q 0 0 0 rg BT 202.98 87.18 Td (Holdings,LLC ) Tj ET Q q 0 0 0 rg BT 255.08 87.18 Td (and ) Tj ET Q q 0 0 0 rg BT 270.28 87.18 Td (SecurCare ) Tj ET Q q 0 0 0 rg BT 310.37 87.18 Td (V) Tj ET Q q 0 0 0 rg BT 315.11 87.18 Td (alue ) Tj ET Q q 0 0 0 rg BT 332.08 87.18 Td (Properties,Ltd. ) Tj ET Q q 0 0 0 rg BT 388.18 87.18 Td (\(collectively) Tj ET Q q 0 0 0 rg BT 428.93 87.18 Td (, ) Tj ET Q q 0 0 0 rg BT 433.00 87.18 Td ("NSA) Tj ET Q q 0 0 0 rg BT 451.85 87.18 Td ( ) Tj ET Q q 0 0 0 rg BT 453.70 87.18 Td (Predecessor"\), ) Tj ET Q q 0 0 0 rg BT 508.19 87.18 Td (entities ) Tj ET Q q 0 0 0 rg BT 535.38 87.18 Td (whose ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 65.00 79.18 Td (principal ) Tj ET Q q 0 0 0 rg BT 97.16 79.18 Td (owner ) Tj ET Q q 0 0 0 rg BT 121.31 79.18 Td (is ) Tj ET Q q 0 0 0 rg BT 129.45 79.18 Td (the ) Tj ET Q q 0 0 0 rg BT 142.94 79.18 Td (Company's ) Tj ET Q q 0 0 0 rg BT 185.06 79.18 Td (chief ) Tj ET Q q 0 0 0 rg BT 204.33 79.18 Td (executive ) Tj ET Q q 0 0 0 rg BT 240.49 79.18 Td (of) Tj ET Q q 0 0 0 rg BT 247.02 79.18 Td (ficer) Tj ET Q q 0 0 0 rg BT 261.69 79.18 Td (. ) Tj ET Q q 0 0 0 rg BT 266.27 79.18 Td (For ) Tj ET Q q 0 0 0 rg BT 280.64 79.18 Td (financial ) Tj ET Q q 0 0 0 rg BT 312.35 79.18 Td (reporting ) Tj ET Q q 0 0 0 rg BT 346.29 79.18 Td (purposes, ) Tj ET Q q 0 0 0 rg BT 383.79 79.18 Td (NSA) Tj ET Q q 0 0 0 rg BT 399.79 79.18 Td ( ) Tj ET Q q 0 0 0 rg BT 402.16 79.18 Td (Predecessor ) Tj ET Q q 0 0 0 rg BT 449.43 79.18 Td (contributions ) Tj ET Q q 0 0 0 rg BT 497.16 79.18 Td (are ) Tj ET Q q 0 0 0 rg BT 511.08 79.18 Td (reported ) Tj ET Q q 0 0 0 rg BT 543.24 79.18 Td (as ) Tj ET Q q 0 0 0 rg BT 554.06 79.18 Td (a ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 65.00 71.18 Td (reorganization ) Tj ET Q q 0 0 0 rg BT 118.55 71.18 Td (of ) Tj ET Q q 0 0 0 rg BT 128.07 71.18 Td (entities ) Tj ET Q q 0 0 0 rg BT 156.26 71.18 Td (under ) Tj ET Q q 0 0 0 rg BT 179.57 71.18 Td (common ) Tj ET Q q 0 0 0 rg BT 213.10 71.18 Td (control ) Tj ET Q q 0 0 0 rg BT 239.96 71.18 Td (whereby ) Tj ET Q q 0 0 0 rg BT 273.05 71.18 Td (the ) Tj ET Q q 0 0 0 rg BT 287.02 71.18 Td (contributed ) Tj ET Q q 0 0 0 rg BT 329.45 71.18 Td (self ) Tj ET Q q 0 0 0 rg BT 344.74 71.18 Td (storage ) Tj ET Q q 0 0 0 rg BT 374.28 71.18 Td (properties ) Tj ET Q q 0 0 0 rg BT 412.70 71.18 Td (are ) Tj ET Q q 0 0 0 rg BT 427.11 71.18 Td (included ) Tj ET Q q 0 0 0 rg BT 459.76 71.18 Td (in ) Tj ET Q q 0 0 0 rg BT 468.83 71.18 Td (the ) Tj ET Q q 0 0 0 rg BT 482.80 71.18 Td (Company's ) Tj ET Q q 0 0 0 rg BT 525.42 71.18 Td (results ) Tj ET Q q 0 0 0 rg BT 551.83 71.18 Td (of ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 65.00 63.18 Td (operations ) Tj ET Q q 0 0 0 rg BT 105.59 63.18 Td (for ) Tj ET Q q 0 0 0 rg BT 118.15 63.18 Td (the ) Tj ET Q q 0 0 0 rg BT 132.50 63.18 Td (three ) Tj ET Q q 0 0 0 rg BT 153.96 63.18 Td (months ) Tj ET Q q 0 0 0 rg BT 183.42 63.18 Td (March ) Tj ET Q q 0 0 0 rg BT 208.87 63.18 Td (31, ) Tj ET Q q 0 0 0 rg BT 223.22 63.18 Td (2014 ) Tj ET Q q 0 0 0 rg BT 244.24 63.18 Td (and ) Tj ET Q q 0 0 0 rg BT 260.82 63.18 Td (have ) Tj ET Q q 0 0 0 rg BT 281.39 63.18 Td (been ) Tj ET Q q 0 0 0 rg BT 302.41 63.18 Td (recorded ) Tj ET Q q 0 0 0 rg BT 337.21 63.18 Td (in ) Tj ET Q q 0 0 0 rg BT 346.67 63.18 Td (the ) Tj ET Q q 0 0 0 rg BT 361.02 63.18 Td (Company's ) Tj ET Q q 0 0 0 rg BT 404.01 63.18 Td (financial ) Tj ET Q q 0 0 0 rg BT 436.59 63.18 Td (statements ) Tj ET Q q 0 0 0 rg BT 478.94 63.18 Td (at ) Tj ET Q q 0 0 0 rg BT 488.84 63.18 Td (NSA) Tj ET Q q 0 0 0 rg BT 504.85 63.18 Td ( ) Tj ET Q q 0 0 0 rg BT 508.07 63.18 Td (Predecessor's ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 65.00 55.18 Td (depreciated ) Tj ET Q q 0 0 0 rg BT 109.03 55.18 Td (historical ) Tj ET Q q 0 0 0 rg BT 142.82 55.18 Td (cost ) Tj ET Q q 0 0 0 rg BT 159.71 55.18 Td (basis.) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 57.00 0 0 47.00 50.00 732.50 cm /I10 Do Q endstream endobj 23 0 obj <> endobj 24 0 obj <> stream BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 303.20 33.25 Td (9) Tj ET Q 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 603.50 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 603.50 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 603.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 603.50 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 573.50 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 573.50 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 573.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 573.50 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 543.50 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 543.50 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 543.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 543.50 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 513.50 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 513.50 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 513.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 513.50 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 483.50 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 483.50 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 483.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 483.50 94.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49 704.5 m 370 704.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 370 704.5 m 464 704.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 464 704.5 m 468 704.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 468 704.5 m 562 704.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49 646.5 m 370 646.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 370 646.5 m 464 646.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 464 646.5 m 468 646.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 468 646.5 m 562 646.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 618.5 m 464 618.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 464 618.5 m 468 618.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 618.5 m 562 618.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 618.5 m 464 618.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 603.5 m 464 603.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 464 618.5 m 468 618.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 618.5 m 562 618.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 603.5 m 562 603.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 483.5 m 464 483.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 483.5 m 562 483.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 483.5 m 464 483.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 469.5 m 464 469.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 467.5 m 464 467.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 483.5 m 562 483.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 469.5 m 562 469.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 468 467.5 m 562 467.5 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 51.50 709.12 Td (Supplemental Schedule 2) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 51.50 690.72 Td (Other Non-GAAP Financial Measurements) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 678.45 Td (\(dollars in thousands\) \(unaudited\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 51.50 651.12 Td (Net Operating Income) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 391.55 623.12 Td (Three Months Ended March 31,) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 405.35 608.12 Td (2015) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 503.35 608.12 Td (2014) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 51.50 593.12 Td (Net loss) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 372.50 593.12 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 431.75 593.12 Td (\(2,771) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 460.15 593.12 Td (\)) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 470.50 593.12 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 529.75 593.12 Td (\(2,803) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 558.15 593.12 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 578.12 Td (Add:) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.50 563.12 Td (General and administrative expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.10 563.12 Td (3,613) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.10 563.12 Td (1,338) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.50 548.12 Td (Depreciation and amortization) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.10 548.12 Td (9,877) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.10 548.12 Td (3,837) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.50 533.12 Td (Interest expense) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 435.10 533.12 Td (6,982) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 533.10 533.12 Td (5,446) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.50 518.12 Td (Acquisition costs) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 443.45 518.12 Td (599) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 541.45 518.12 Td (182) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.50 503.12 Td (Organizational and offering expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.00 503.12 Td (58) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 541.45 503.12 Td (235) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 60.50 488.12 Td (Non-operating expense) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 449.00 488.12 Td (91) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 552.55 488.12 Td (4) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 74.00 473.12 Td (Net Operating Income) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 372.50 473.12 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 429.55 473.12 Td (18,449) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 470.50 473.12 Td ($) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 533.10 473.12 Td (8,239) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 384.50 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 384.50 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 384.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 384.50 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 354.50 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 354.50 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 464.00 354.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 468.00 354.50 94.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 324.50 321.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 370.00 324.50 94.00 -15.00 re f /GS0 gs 0.8 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443.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 443.5 m 491 443.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 443.5 m 495 443.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 443.5 m 562 443.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296 415.5 m 349 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 415.5 m 353 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 415.5 m 420 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 415.5 m 424 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 415.5 m 491 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 415.5 m 495 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 415.5 m 562 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 239 415.5 m 292 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 239 402.5 m 292 402.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 239 400.5 m 292 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292 415.5 m 296 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292 402.5 m 296 402.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292 400.5 m 296 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296 415.5 m 349 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296 402.5 m 349 402.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296 400.5 m 349 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 415.5 m 353 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 402.5 m 353 402.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349 400.5 m 353 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 415.5 m 420 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 402.5 m 420 402.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 353 400.5 m 420 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 415.5 m 424 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 402.5 m 424 402.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 420 400.5 m 424 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 415.5 m 491 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 402.5 m 491 402.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 400.5 m 491 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 415.5 m 495 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 402.5 m 495 402.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491 400.5 m 495 400.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 415.5 m 562 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 402.5 m 562 402.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 400.5 m 562 400.5 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 51.50 709.72 Td (Supplemental Schedule 3) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 51.50 691.72 Td (Portfolio Summary) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 51.50 678.72 Td (As of March 31, 2015) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 666.45 Td (\(unaudited\)) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 250.95 629.90 Td (Stores) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 310.75 629.90 Td (Units) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 366.95 638.90 Td (Rentable) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 360.20 629.90 Td (Square Feet) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 427.20 638.90 Td (% of Rentable) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 431.20 629.90 Td (Square Feet) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 498.45 638.90 Td (Occupancy at) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 504.20 629.90 Td (Period End) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 51.50 615.90 Td (Same Store) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 601.90 Td (Texas) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 278.45 601.90 Td (31) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 322.95 601.90 Td (9,391) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 376.45 601.90 Td (1,221,088) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 469.90 601.90 Td (9.9) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.45 601.90 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 535.90 601.90 Td (86.3) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 553.45 601.90 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 587.90 Td (Oklahoma) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 278.45 587.90 Td (26) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 317.95 587.90 Td (12,230) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 376.45 587.90 Td (1,630,324) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 464.90 587.90 Td (13.2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.45 587.90 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 535.90 587.90 Td (86.8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 553.45 587.90 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 573.90 Td (Oregon) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 278.45 573.90 Td (26) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 322.95 573.90 Td (9,572) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 376.45 573.90 Td (1,198,728) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 469.90 573.90 Td (9.7) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.45 573.90 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 535.90 573.90 Td (91.3) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 553.45 573.90 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 559.90 Td (North Carolina) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 278.45 559.90 Td (15) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 322.95 559.90 Td (6,578) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 383.95 559.90 Td (767,799) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 469.90 559.90 Td (6.2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.45 559.90 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 535.90 559.90 Td (78.7) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 553.45 559.90 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 545.90 Td (Georgia) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 278.45 545.90 Td (14) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 322.95 545.90 Td (4,469) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 383.95 545.90 Td (561,006) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 469.90 545.90 Td (4.5) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.45 545.90 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 535.90 545.90 Td (87.4) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 553.45 545.90 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 531.90 Td (Colorado) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 283.45 531.90 Td (8) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 322.95 531.90 Td (3,741) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 383.95 531.90 Td (453,166) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 469.90 531.90 Td (3.7) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.45 531.90 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 535.90 531.90 Td (88.4) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 553.45 531.90 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 517.90 Td (Washington) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 283.45 517.90 Td (5) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 322.95 517.90 Td (1,580) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 383.95 517.90 Td (207,149) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 469.90 517.90 Td (1.7) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.45 517.90 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 535.90 517.90 Td (91.9) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 553.45 517.90 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 503.90 Td (Other ) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 76.51 508.19 Td (\(1\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 278.45 503.90 Td (11) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 322.95 503.90 Td (4,373) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 383.95 503.90 Td (536,674) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 469.90 503.90 Td (4.2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.45 503.90 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 535.90 503.90 Td (78.2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 553.45 503.90 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 489.90 Td (Same Store Total/Weighted Average) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 273.45 489.90 Td (136) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 317.95 489.90 Td (51,934) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 376.45 489.90 Td (6,575,934) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 464.90 489.90 Td (53.1) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.45 489.90 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.90 489.90 Td (86.2) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 553.45 489.90 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 461.90 Td (2014 Acquisitions) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 278.45 461.90 Td (83) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 317.95 461.90 Td (42,137) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 376.45 461.90 Td (5,450,461) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 464.90 461.90 Td (44.0) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.45 461.90 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 535.90 461.90 Td (84.6) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 553.45 461.90 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 447.90 Td (2015 ) Tj ET Q q 0 0 0 rg BT 73.53 447.90 Td (Acquisitions) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 121.55 452.19 Td ( \(2\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 283.45 447.90 Td (6) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 322.95 447.90 Td (3,409) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 383.95 447.90 Td (363,939) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 469.90 447.90 Td (2.9) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 482.45 447.90 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 535.90 447.90 Td (86.0) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 553.45 447.90 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 433.90 Td (Non-Same Store Total/Weighted Average) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 278.45 433.90 Td (89) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 317.95 433.90 Td (45,546) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 376.45 433.90 Td (5,814,400) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 464.90 433.90 Td (46.9) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.45 433.90 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.90 433.90 Td (84.7) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 553.45 433.90 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 56.00 405.90 Td (Total/Weighted Average) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 273.45 405.90 Td (225) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 317.95 405.90 Td (97,480) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 371.45 405.90 Td (12,390,334) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 459.90 405.90 Td (100.0) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 482.45 405.90 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 535.90 405.90 Td (85.5) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 553.45 405.90 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET BT /F2 7.80 Tf ET q 0 0 0 rg BT 51.50 136.40 Td (\(1\) ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 63.20 136.40 Td (Other ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 84.87 136.40 Td (states ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 107.85 136.40 Td (in ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 116.08 136.40 Td (our ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 129.52 136.40 Td (same ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 150.76 136.40 Td (store ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 170.26 136.40 Td (portfolio ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 200.18 136.40 Td (include ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 226.84 136.40 Td (Arizona, ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 257.40 136.40 Td (California, ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 294.68 136.40 Td (Mississippi, ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 336.71 136.40 Td (New ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 354.48 136.40 Td (Hampshire, ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 396.52 136.40 Td (Nevada, ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 427.74 136.40 Td (and ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 442.92 136.40 Td (South ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 465.46 136.40 Td (Carolina.) Tj ET Q BT /F2 12.00 Tf ET BT /F2 7.80 Tf ET q 0 0 0 rg BT 51.50 105.40 Td (\(2\) ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 63.06 105.40 Td (The ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 78.66 105.40 Td (six ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 90.36 105.40 Td (self ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 104.66 105.40 Td (storage ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 132.84 105.40 Td (properties ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 169.69 105.40 Td (were ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 188.76 105.40 Td (acquired ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 220.85 105.40 Td (for ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 232.11 105.40 Td (an ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 242.96 105.40 Td (investment ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 282.83 105.40 Td (of ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 291.51 105.40 Td ($41.0 ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 313.19 105.40 Td (million.) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 57.00 0 0 47.00 50.00 732.50 cm /I12 Do Q endstream endobj 27 0 obj <> endobj 28 0 obj <> stream BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 390.80 28.75 Td (1) Tj ET Q q 0 0 0 rg BT 395.62 28.75 Td (1) Tj ET Q 0.6745098039215687 0.6745098039215687 0.6745098039215687 rg /GS0 gs 207.50 432.00 266.00 -12.00 re f /GS0 gs 0.7411764705882353 0.9058823529411765 0.5098039215686274 rg /GS0 gs 480.50 432.00 266.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 399.00 163.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 207.50 399.00 86.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 293.50 399.00 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 297.50 399.00 86.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 383.50 399.00 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 387.50 399.00 86.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 399.00 7.00 -13.00 re f /GS0 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gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 296 m 473.5 296 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 387.5 294 m 473.5 294 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 308 m 566.5 308 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 296 m 566.5 296 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 294 m 566.5 294 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 570.5 308 m 656.5 308 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 570.5 296 m 656.5 296 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 570.5 294 m 656.5 294 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 660.5 308 m 746.5 308 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 660.5 296 m 746.5 296 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 660.5 294 m 746.5 294 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 47.00 533.62 Td (Supplemental Schedule 4) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 47.00 516.00 Td (Debt and Capitalization) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 47.00 505.73 Td (\(dollars in thousands\) \(unaudited\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 47.00 491.68 Td (Subsequent ) Tj ET Q q 0 0 0 rg BT 91.85 491.68 Td (to ) Tj ET Q q 0 0 0 rg BT 100.66 491.68 Td (March ) Tj ET Q q 0 0 0 rg BT 125.03 491.68 Td (31, ) Tj ET Q q 0 0 0 rg BT 138.29 491.68 Td (2015, ) Tj ET Q q 0 0 0 rg BT 160.46 491.68 Td (NSA) Tj ET Q q 0 0 0 rg BT 176.46 491.68 Td ( ) Tj ET Q q 0 0 0 rg BT 178.61 491.68 Td (completed ) Tj ET Q q 0 0 0 rg BT 217.66 491.68 Td (an ) Tj ET Q q 0 0 0 rg BT 228.70 491.68 Td (initial ) Tj ET Q q 0 0 0 rg BT 249.07 491.68 Td (public ) Tj ET Q q 0 0 0 rg BT 272.12 491.68 Td (of) Tj ET Q q 0 0 0 rg BT 278.64 491.68 Td (fering ) Tj ET Q q 0 0 0 rg BT 300.80 491.68 Td (of ) Tj ET Q q 0 0 0 rg BT 309.61 491.68 Td (23,000,000 ) Tj ET Q q 0 0 0 rg BT 351.79 491.68 Td (common ) Tj ET Q q 0 0 0 rg BT 384.61 491.68 Td (shares ) Tj ET Q q 0 0 0 rg BT 410.77 491.68 Td (of ) Tj ET Q q 0 0 0 rg BT 419.58 491.68 Td (beneficial ) Tj ET Q q 0 0 0 rg BT 455.53 491.68 Td (interest, ) Tj ET Q q 0 0 0 rg BT 486.13 491.68 Td ($.01 ) Tj ET Q q 0 0 0 rg BT 503.84 491.68 Td (par ) Tj ET Q q 0 0 0 rg BT 517.54 491.68 Td (value ) Tj ET Q q 0 0 0 rg BT 538.81 491.68 Td (per ) Tj ET Q q 0 0 0 rg BT 552.52 491.68 Td (share, ) Tj ET Q q 0 0 0 rg BT 576.89 491.68 Td (at ) Tj ET Q q 0 0 0 rg BT 585.71 491.68 Td (a ) Tj ET Q q 0 0 0 rg BT 592.30 491.68 Td (price ) Tj ET Q q 0 0 0 rg BT 611.78 491.68 Td (of ) Tj ET Q q 0 0 0 rg BT 620.60 491.68 Td ($13.00 ) Tj ET Q q 0 0 0 rg BT 647.21 491.68 Td (per ) Tj ET Q q 0 0 0 rg BT 660.91 491.68 Td (share, ) Tj ET Q q 0 0 0 rg BT 685.29 491.68 Td (including ) Tj ET Q q 0 0 0 rg BT 719.01 491.68 Td (shares ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 47.00 483.68 Td (issued ) Tj ET Q q 0 0 0 rg BT 72.67 483.68 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 106.35 483.68 Td (to ) Tj ET Q q 0 0 0 rg BT 115.57 483.68 Td (the ) Tj ET Q q 0 0 0 rg BT 129.24 483.68 Td (underwriters) Tj ET Q q 0 0 0 rg BT 174.74 483.68 Td ( ) Tj ET Q q 0 0 0 rg BT 177.29 483.68 Td (option ) Tj ET Q q 0 0 0 rg BT 201.63 483.68 Td (to ) Tj ET Q q 0 0 0 rg BT 210.85 483.68 Td (purchase ) Tj ET Q q 0 0 0 rg BT 246.31 483.68 Td (additional ) Tj ET Q q 0 0 0 rg BT 283.11 483.68 Td (shares ) Tj ET Q q 0 0 0 rg BT 309.67 483.68 Td (which ) Tj ET Q q 0 0 0 rg BT 332.67 483.68 Td (was ) Tj ET Q q 0 0 0 rg BT 349.45 483.68 Td (exercised ) Tj ET Q q 0 0 0 rg BT 386.23 483.68 Td (in ) Tj ET Q q 0 0 0 rg BT 395.01 483.68 Td (full, ) Tj ET Q q 0 0 0 rg BT 410.01 483.68 Td (and ) Tj ET Q q 0 0 0 rg BT 425.90 483.68 Td (received ) Tj ET Q q 0 0 0 rg BT 458.69 483.68 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 494.15 483.68 Td (of ) Tj ET Q q 0 0 0 rg BT 503.37 483.68 Td (approximately ) Tj ET Q q 0 0 0 rg BT 555.72 483.68 Td ($273 ) Tj ET Q q 0 0 0 rg BT 576.06 483.68 Td (million, ) Tj ET Q q 0 0 0 rg BT 603.50 483.68 Td (net ) Tj ET Q q 0 0 0 rg BT 617.17 483.68 Td (of ) Tj ET Q q 0 0 0 rg BT 626.39 483.68 Td (underwriting ) Tj ET Q q 0 0 0 rg BT 672.52 483.68 Td (discounts ) Tj ET Q q 0 0 0 rg BT 708.87 483.68 Td (and ) Tj ET Q q 0 0 0 rg BT 724.76 483.68 Td (other ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 47.00 475.68 Td (estimated ) Tj ET Q q 0 0 0 rg BT 83.88 475.68 Td (transactions ) Tj ET Q q 0 0 0 rg BT 129.20 475.68 Td (costs. ) Tj ET Q q 0 0 0 rg BT 152.29 475.68 Td (NSA) Tj ET Q q 0 0 0 rg BT 168.30 475.68 Td ( ) Tj ET Q q 0 0 0 rg BT 170.49 475.68 Td (used ) Tj ET Q q 0 0 0 rg BT 190.03 475.68 Td (the ) Tj ET Q q 0 0 0 rg BT 203.34 475.68 Td (net ) Tj ET Q q 0 0 0 rg BT 216.66 475.68 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 251.76 475.68 Td (to ) Tj ET Q q 0 0 0 rg BT 260.62 475.68 Td (repay ) Tj ET Q q 0 0 0 rg BT 282.83 475.68 Td (an ) Tj ET Q q 0 0 0 rg BT 293.92 475.68 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 332.14 475.68 Td (of ) Tj ET Q q 0 0 0 rg BT 341.00 475.68 Td (approximately ) Tj ET Q q 0 0 0 rg BT 393.00 475.68 Td ($230 ) Tj ET Q q 0 0 0 rg BT 412.99 475.68 Td (million ) Tj ET Q q 0 0 0 rg BT 437.85 475.68 Td (of ) Tj ET Q q 0 0 0 rg BT 446.72 475.68 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 496.50 475.68 Td (and ) Tj ET Q q 0 0 0 rg BT 512.04 475.68 Td (acquire ) Tj ET Q q 0 0 0 rg BT 540.47 475.68 Td (21 ) Tj ET Q q 0 0 0 rg BT 551.56 475.68 Td (self ) Tj ET Q q 0 0 0 rg BT 566.21 475.68 Td (storage ) Tj ET Q q 0 0 0 rg BT 595.08 475.68 Td (properties ) Tj ET Q q 0 0 0 rg BT 632.85 475.68 Td (for ) Tj ET Q q 0 0 0 rg BT 644.38 475.68 Td (approximately ) Tj ET Q q 0 0 0 rg BT 696.37 475.68 Td ($42 ) Tj ET Q q 0 0 0 rg BT 711.91 475.68 Td (million ) Tj ET Q q 0 0 0 rg BT 736.77 475.68 Td (in ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 47.00 467.68 Td (cash ) Tj ET Q q 0 0 0 rg BT 65.97 467.68 Td (and ) Tj ET Q q 0 0 0 rg BT 81.39 467.68 Td (approximately ) Tj ET Q q 0 0 0 rg BT 133.26 467.68 Td ($23 ) Tj ET Q q 0 0 0 rg BT 148.68 467.68 Td (million ) Tj ET Q q 0 0 0 rg BT 173.42 467.68 Td (of ) Tj ET Q q 0 0 0 rg BT 182.16 467.68 Td (operating ) Tj ET Q q 0 0 0 rg BT 217.59 467.68 Td (partnership ) Tj ET Q q 0 0 0 rg BT 259.69 467.68 Td (and ) Tj ET Q q 0 0 0 rg BT 275.11 467.68 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 323.43 467.68 Td (performance ) Tj ET Q q 0 0 0 rg BT 370.42 467.68 Td (units, ) Tj ET Q q 0 0 0 rg BT 391.61 467.68 Td (with ) Tj ET Q q 0 0 0 rg BT 407.90 467.68 Td (the ) Tj ET Q q 0 0 0 rg BT 421.10 467.68 Td (assumption ) Tj ET Q q 0 0 0 rg BT 464.08 467.68 Td (of ) Tj ET Q q 0 0 0 rg BT 472.82 467.68 Td (approximately ) Tj ET Q q 0 0 0 rg BT 524.69 467.68 Td ($31 ) Tj ET Q q 0 0 0 rg BT 540.11 467.68 Td (million ) Tj ET Q q 0 0 0 rg BT 564.85 467.68 Td (of ) Tj ET Q q 0 0 0 rg BT 573.60 467.68 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 617.03 467.68 Td (mortgages ) Tj ET Q q 0 0 0 rg BT 656.90 467.68 Td (\(including ) Tj ET Q q 0 0 0 rg BT 693.21 467.68 Td (approximately ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 47.00 459.68 Td ($2.0 ) Tj ET Q q 0 0 0 rg BT 64.21 459.68 Td (million ) Tj ET Q q 0 0 0 rg BT 88.53 459.68 Td (of ) Tj ET Q q 0 0 0 rg BT 96.84 459.68 Td (debt ) Tj ET Q q 0 0 0 rg BT 114.06 459.68 Td (premium\). ) Tj ET Q q 0 0 0 rg BT 151.60 459.68 Td (The ) Tj ET Q q 0 0 0 rg BT 167.02 459.68 Td (tables ) Tj ET Q q 0 0 0 rg BT 190.02 459.68 Td (below ) Tj ET Q q 0 0 0 rg BT 212.56 459.68 Td (present ) Tj ET Q q 0 0 0 rg BT 240.89 459.68 Td (NSA's ) Tj ET Q q 0 0 0 rg BT 264.51 459.68 Td (historical ) Tj ET Q q 0 0 0 rg BT 297.72 459.68 Td (debt ) Tj ET Q q 0 0 0 rg BT 314.93 459.68 Td (and ) Tj ET Q q 0 0 0 rg BT 329.92 459.68 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 377.81 459.68 Td (as ) Tj ET Q q 0 0 0 rg BT 387.91 459.68 Td (of ) Tj ET Q q 0 0 0 rg BT 396.22 459.68 Td (March ) Tj ET Q q 0 0 0 rg BT 420.09 459.68 Td (31, ) Tj ET Q q 0 0 0 rg BT 432.85 459.68 Td (2015, ) Tj ET Q q 0 0 0 rg BT 454.52 459.68 Td (and ) Tj ET Q q 0 0 0 rg BT 469.51 459.68 Td (an ) Tj ET Q q 0 0 0 rg BT 480.05 459.68 Td (illustration ) Tj ET Q q 0 0 0 rg BT 517.71 459.68 Td (of ) Tj ET Q q 0 0 0 rg BT 526.02 459.68 Td (the ) Tj ET Q q 0 0 0 rg BT 538.79 459.68 Td (ef) Tj ET Q q 0 0 0 rg BT 545.31 459.68 Td (fect ) Tj ET Q q 0 0 0 rg BT 559.85 459.68 Td (of ) Tj ET Q q 0 0 0 rg BT 568.17 459.68 Td (the ) Tj ET Q q 0 0 0 rg BT 580.93 459.68 Td (issuance ) Tj ET Q q 0 0 0 rg BT 614.15 459.68 Td (of ) Tj ET Q q 0 0 0 rg BT 622.46 459.68 Td (the ) Tj ET Q q 0 0 0 rg BT 635.23 459.68 Td (common ) Tj ET Q q 0 0 0 rg BT 667.55 459.68 Td (shares, ) Tj ET Q q 0 0 0 rg BT 695.42 459.68 Td (indebtedness ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 47.00 451.68 Td (repayments, ) Tj ET Q q 0 0 0 rg BT 93.24 451.68 Td (reduced ) Tj ET Q q 0 0 0 rg BT 124.38 451.68 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 161.73 451.68 Td (rates ) Tj ET Q q 0 0 0 rg BT 181.73 451.68 Td (as ) Tj ET Q q 0 0 0 rg BT 192.41 451.68 Td (a ) Tj ET Q q 0 0 0 rg BT 199.08 451.68 Td (result ) Tj ET Q q 0 0 0 rg BT 220.86 451.68 Td (of ) Tj ET Q q 0 0 0 rg BT 229.76 451.68 Td (reduced ) Tj ET Q q 0 0 0 rg BT 260.89 451.68 Td (overall ) Tj ET Q q 0 0 0 rg BT 286.68 451.68 Td (leverage, ) Tj ET Q q 0 0 0 rg BT 321.81 451.68 Td (and ) Tj ET Q q 0 0 0 rg BT 337.38 451.68 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 381.41 451.68 Td (as ) Tj ET Q q 0 0 0 rg BT 392.08 451.68 Td (if ) Tj ET Q q 0 0 0 rg BT 398.30 451.68 Td (the ) Tj ET Q q 0 0 0 rg BT 411.64 451.68 Td (transactions ) Tj ET Q q 0 0 0 rg BT 457.00 451.68 Td (had ) Tj ET Q q 0 0 0 rg BT 472.57 451.68 Td (occurred ) Tj ET Q q 0 0 0 rg BT 505.92 451.68 Td (as ) Tj ET Q q 0 0 0 rg BT 516.59 451.68 Td (of ) Tj ET Q q 0 0 0 rg BT 525.48 451.68 Td (March ) Tj ET Q q 0 0 0 rg BT 549.93 451.68 Td (31, ) Tj ET Q q 0 0 0 rg BT 563.28 451.68 Td (2015.) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 47.00 439.95 Td (Debt Balances and Characteristics) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 300.40 423.68 Td (As of March 31, 2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 589.80 423.68 Td (As Adjusted) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 221.85 403.23 Td (Interest Rate) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 270.31 407.04 Td ( \(1\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 305.45 411.23 Td (Weighted Average) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 305.35 403.23 Td (Maturity \(In Years\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 414.65 403.23 Td (Balance) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 494.85 403.23 Td (Interest Rate) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 543.31 407.04 Td ( \(1\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 578.45 411.23 Td (Weighted Average) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 578.35 403.23 Td (Maturity \(In Years\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 687.65 403.23 Td (Balance) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 47.00 390.23 Td (Credit Facility:) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 56.00 377.23 Td (Revolving line of credit) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 238.65 377.23 Td (2.78%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.20 377.23 Td (2.00) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 390.00 377.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 441.30 377.23 Td (182,217) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.65 377.23 Td (2.46%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 605.20 377.23 Td (2.00) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 663.00 377.23 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 718.80 377.23 Td (85,917) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 56.00 364.23 Td (Term loan) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 238.65 364.23 Td (3.65%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.20 364.23 Td (3.00) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 441.30 364.23 Td (144,558) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.65 364.23 Td (2.86%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 605.20 364.23 Td (3.00) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 714.35 364.23 Td (144,558) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 47.00 351.23 Td (Unsecured term loan) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 238.65 351.23 Td (5.18%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.20 351.23 Td (0.50) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 445.80 351.28 Td (50,000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.00 351.23 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 609.00 351.23 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 735.30 351.23 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 47.00 338.23 Td (Related party note) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 238.65 338.23 Td (3.30%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.20 338.23 Td (0.33) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 450.25 338.28 Td (4,054) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.65 338.23 Td (3.30%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 605.20 338.23 Td (0.33) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 723.25 338.23 Td (4,054) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 47.00 325.23 Td (Fixed rate mortgages payable) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 238.65 325.23 Td (4.07%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.20 325.23 Td (6.67) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 441.30 325.23 Td (153,961) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 511.65 325.23 Td (3.94%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 605.20 325.23 Td (6.52) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 714.35 325.23 Td (184,508) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 47.00 312.23 Td (Variable rate mortgages payable) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 238.65 312.23 Td (4.69%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.20 312.23 Td (0.26) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 445.80 312.28 Td (83,500) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 519.00 312.23 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 609.00 312.23 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 735.30 312.23 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 60.50 299.23 Td (Total/Weighted Average) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 238.65 299.23 Td (3.76%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 332.20 299.23 Td (3.03) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 390.00 299.23 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 441.30 299.23 Td (618,290) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 511.65 299.23 Td (3.26%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 605.20 299.23 Td (4.32) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 663.00 299.23 Td ($) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 714.35 299.23 Td (419,037) Tj ET Q BT /F1 10.00 Tf ET 0.6745098039215687 0.6745098039215687 0.6745098039215687 rg /GS0 gs 322.50 268.00 151.00 -12.00 re f /GS0 gs 0.7411764705882353 0.9058823529411765 0.5098039215686274 rg /GS0 gs 480.50 268.00 266.00 -12.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 243.00 278.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.50 243.00 151.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 243.00 7.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 243.00 131.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 611.50 243.00 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 615.50 243.00 131.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 217.00 278.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.50 217.00 151.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 217.00 7.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 217.00 131.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 611.50 217.00 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 615.50 217.00 131.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 191.00 278.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.50 191.00 151.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 191.00 7.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 191.00 131.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 611.50 191.00 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 615.50 191.00 131.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 165.00 278.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.50 165.00 151.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 165.00 7.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 165.00 131.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 611.50 165.00 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 615.50 165.00 131.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 139.00 278.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 322.50 139.00 151.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 473.50 139.00 7.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 480.50 139.00 131.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 611.50 139.00 4.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 615.50 139.00 131.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 44.5 272 m 322.5 272 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 322.5 272 m 473.5 272 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 473.5 272 m 480.5 272 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 272 m 611.5 272 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 611.5 272 m 615.5 272 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 615.5 272 m 746.5 272 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322.5 256 m 473.5 256 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 256 m 611.5 256 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 611.5 256 m 615.5 256 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 615.5 256 m 746.5 256 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322.5 243 m 473.5 243 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 256 m 611.5 256 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 243 m 611.5 243 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 611.5 256 m 615.5 256 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 615.5 256 m 746.5 256 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 615.5 243 m 746.5 243 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322.5 230 m 473.5 230 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 615.5 230 m 746.5 230 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322.5 230 m 473.5 230 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 230 m 611.5 230 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 615.5 230 m 746.5 230 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322.5 191 m 473.5 191 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 191 m 611.5 191 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 191 m 611.5 191 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 615.5 191 m 746.5 191 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322.5 139 m 473.5 139 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 139 m 611.5 139 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 615.5 139 m 746.5 139 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 139 m 611.5 139 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 615.5 139 m 746.5 139 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322.5 126 m 473.5 126 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322.5 114 m 473.5 114 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322.5 112 m 473.5 112 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 126 m 611.5 126 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 114 m 611.5 114 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 480.5 112 m 611.5 112 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 615.5 126 m 746.5 126 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 615.5 114 m 746.5 114 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 615.5 112 m 746.5 112 l s BT /F3 9.00 Tf ET q 0 0 0 rg BT 47.00 275.95 Td (Equity Interests) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 357.90 259.68 Td (As of March 31, 2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 589.80 259.68 Td (As Adjusted) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 373.90 247.23 Td (Outstanding) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 521.90 247.23 Td (Outstanding) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 653.25 247.23 Td (If Converted) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 699.92 251.04 Td ( \(2\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 47.00 234.23 Td (Common shares of beneficial interest) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 449.60 234.28 Td (1,000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 568.25 234.23 Td (23,000,000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 703.25 234.23 Td (23,000,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 47.00 221.23 Td (Total shares outstanding \(basic\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 449.60 221.28 Td (1,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 568.25 221.23 Td (23,000,000) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 703.25 221.23 Td (23,000,000) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 47.00 208.23 Td (Operating partnership units) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 429.60 208.28 Td (19,235,556) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 568.25 208.23 Td (20,705,654) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 703.25 208.23 Td (20,705,654) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 47.00 195.23 Td (DownREIT operating partnership unit equivalents) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 434.00 195.23 Td (1,415,349) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 572.70 195.28 Td (1,415,349) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 707.70 195.23 Td (1,415,349) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 56.00 182.23 Td (Total operating partnership units) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 429.60 182.28 Td (20,650,905) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 568.25 182.23 Td (22,121,003) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 703.25 182.23 Td (22,121,003) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 56.00 169.23 Td (Long term incentive plan units) Tj ET Q BT /F3 8.00 Tf ET BT /F3 5.20 Tf ET q 0 0 0 rg BT 172.01 173.04 Td ( \(3\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 461.65 169.23 Td () Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 572.70 169.28 Td (2,211,913) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 707.70 169.23 Td (2,211,913) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 47.00 156.23 Td (Subordinated performance units) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 434.00 156.23 Td (8,886,097) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 572.70 156.28 Td (9,232,067) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 707.70 156.23 Td (9,139,746) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 47.00 143.23 Td (DownREIT subordinated performance unit equivalents) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 434.00 143.23 Td (3,688,205) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 572.70 143.28 Td (3,688,205) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 707.70 143.23 Td (3,651,323) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 56.00 130.23 Td (Total subordinated partnership units) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 429.60 130.28 Td (12,574,302) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 568.25 130.23 Td (12,920,272) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 703.25 130.23 Td (12,791,069) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 60.50 117.23 Td (Total shares and units outstanding \(diluted\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 429.60 117.28 Td (33,226,207) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 568.25 117.23 Td (60,253,188) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 703.25 117.23 Td (60,123,985) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 47.00 99.40 Td (\(1\) Effective interest rate incorporates the stated rate plus the impact of interest rate swaps and discount and premium amortization, if applicable. For the revolving line of credit, the effective interest rate also includes fees) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 60.50 92.40 Td (which range from 0.20% to 0.30% for unused borrowings.) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 47.00 82.40 Td (\(2\) Balance assumes that each subordinated performance unit \(including each DownREIT subordinated performance unit\) is convertible into OP units, notwithstanding the two-year lock out period on conversions, and that) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 60.50 75.40 Td (each subordinated performance unit would on average convert on a hypothetical basis into an estimated 0.99 OP units based on pro forma December 31, 2014 financial information. The hypothetical conversions are) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 60.50 68.40 Td (calculated by dividing the average cash available for distribution, or CAD, per subordinated performance unit on a pro forma basis over the one-year period ended December31, 2014 by 110% of the CAD per OP unit on a) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 60.50 61.40 Td (pro forma basis over the same period. We anticipate that as our CAD grows over time, the conversion ratio will also grow, including to levels that may exceed these amounts.) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 47.00 51.40 Td (\(3\) Balance as of March 31, 2015 excludes 2,201,640 long term incentive plan units as they did not participate in dividend distributions prior to the Company's initial public offering. Historical and as adjusted balances exclude) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 60.50 44.40 Td (522,900 long term incentive plan units which only vest and participate in dividend distributions upon the future contribution of properties from the PROs.) Tj ET Q BT /F1 10.00 Tf ET /GS0 gs q 57.00 0 0 47.00 50.00 552.50 cm /I13 Do Q endstream endobj 29 0 obj <> endobj 30 0 obj <> stream BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.40 33.25 Td (12) Tj ET Q 0.6745098039215687 0.6745098039215687 0.6745098039215687 rg /GS0 gs 49.00 646.50 513.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 607.50 105.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 154.00 607.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 607.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 607.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 607.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.00 607.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 607.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 577.50 105.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 154.00 577.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 577.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 577.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 577.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.00 577.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 577.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 547.50 105.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 154.00 547.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 547.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 547.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 547.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.00 547.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 547.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 517.50 105.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 154.00 517.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 517.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 517.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 517.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.00 517.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 517.50 68.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 49.00 487.50 105.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 154.00 487.50 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 222.00 487.50 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 290.00 487.50 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 487.50 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 426.00 487.50 68.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 494.00 487.50 68.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49 704.5 m 154 704.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 154 704.5 m 222 704.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 222 704.5 m 290 704.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 290 704.5 m 358 704.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 358 704.5 m 426 704.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426 704.5 m 494 704.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 494 704.5 m 562 704.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49 704.5 m 154 704.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 154 704.5 m 222 704.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 222 704.5 m 290 704.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 290 704.5 m 358 704.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 358 704.5 m 426 704.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 426 704.5 m 494 704.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358 621.5 m 426 621.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426 621.5 m 494 621.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 621.5 m 562 621.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 607.5 m 154 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 154 607.5 m 222 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 607.5 m 290 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 607.5 m 358 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358 607.5 m 426 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426 607.5 m 494 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 607.5 m 562 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 154 607.5 m 222 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 607.5 m 290 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 607.5 m 358 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358 607.5 m 426 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426 607.5 m 494 607.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 154 487.5 m 222 487.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 487.5 m 290 487.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 487.5 m 358 487.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 487.5 m 154 487.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 475.5 m 154 475.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 473.5 m 154 473.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 154 487.5 m 222 487.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 154 475.5 m 222 475.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 154 473.5 m 222 473.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 487.5 m 290 487.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 475.5 m 290 475.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 222 473.5 m 290 473.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 487.5 m 358 487.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 475.5 m 358 475.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 473.5 m 358 473.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358 487.5 m 426 487.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358 475.5 m 426 475.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358 473.5 m 426 473.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426 487.5 m 494 487.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426 475.5 m 494 475.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426 473.5 m 494 473.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 487.5 m 562 487.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 475.5 m 562 475.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 473.5 m 562 473.5 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 51.50 709.12 Td (Supplemental Schedule 5) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 51.50 690.72 Td (Occupancy By State) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 51.50 677.72 Td (Three months ended March 31, 2015 compared to Three months ended March 31, 2014) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 665.45 Td (\(unaudited\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 254.15 637.73 Td (SAME STORE PORTFOLIO) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 306.60 619.73 Td (Rentable) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 300.60 611.73 Td (Square Feet) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 411.00 625.18 Td (Occupancy at Period End) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 51.50 611.73 Td (State) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 175.05 611.73 Td (Stores) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 245.50 611.73 Td (Units) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 363.00 611.73 Td (March 31, 2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 431.00 611.73 Td (March 31, 2014) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 513.50 611.73 Td (Growth) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 596.73 Td (Texas) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 209.90 596.73 Td (31) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 266.75 596.78 Td (9,391) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 319.20 596.78 Td (1,221,088) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.75 596.78 Td (86.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.35 596.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.75 596.78 Td (82.9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.35 596.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.55 596.73 Td (3.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.35 596.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 581.73 Td (Oklahoma) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 209.90 581.73 Td (26) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 262.30 581.78 Td (12,230) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 319.20 581.78 Td (1,630,324) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.75 581.78 Td (86.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.35 581.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.75 581.78 Td (84.1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.35 581.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.55 581.73 Td (2.7) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.35 581.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 566.73 Td (Oregon) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 209.90 566.73 Td (26) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 266.75 566.78 Td (9,572) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 319.20 566.78 Td (1,198,728) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.75 566.78 Td (91.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.35 566.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.75 566.78 Td (88.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.35 566.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.55 566.73 Td (2.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.35 566.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 551.73 Td (North Carolina) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 209.90 551.73 Td (15) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 266.75 551.78 Td (6,578) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.80 551.73 Td (767,799) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.75 551.78 Td (78.7) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.35 551.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.75 551.78 Td (79.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.35 551.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 537.90 551.73 Td (\(1.1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 551.70 551.73 Td (\)%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 536.73 Td (Georgia) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 209.90 536.73 Td (14) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 266.75 536.78 Td (4,469) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.80 536.73 Td (561,006) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.75 536.78 Td (87.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.35 536.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.75 536.78 Td (77.7) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.35 536.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.55 536.73 Td (9.7) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.35 536.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 521.73 Td (Colorado) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 214.35 521.73 Td (8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 266.75 521.78 Td (3,741) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.80 521.73 Td (453,166) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.75 521.78 Td (88.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.35 521.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.75 521.78 Td (88.1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.35 521.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.55 521.73 Td (0.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.35 521.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 506.73 Td (Washington) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 214.35 506.73 Td (5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 266.75 506.78 Td (1,580) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.80 506.73 Td (207,149) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.75 506.78 Td (91.9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.35 506.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.75 506.78 Td (84.1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.35 506.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.55 506.73 Td (7.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.35 506.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 491.73 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 209.90 491.73 Td (11) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 266.75 491.78 Td (4,373) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 325.80 491.73 Td (536,674) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.75 491.78 Td (78.2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 418.35 491.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 470.75 491.78 Td (77.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 486.35 491.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.55 491.73 Td (0.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.35 491.73 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 51.50 478.73 Td (Total/Weighted Average) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 205.45 478.73 Td (136) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 262.30 478.78 Td (51,934) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 319.20 478.78 Td (6,575,934) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 402.75 478.78 Td (86.2) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 418.35 478.73 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 470.75 478.78 Td (83.4) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 486.35 478.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 540.55 478.73 Td (2.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 554.35 478.73 Td (%) Tj ET Q BT /F1 10.00 Tf ET 0.6745098039215687 0.6745098039215687 0.6745098039215687 rg /GS0 gs 87.00 460.50 437.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 87.00 421.50 105.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 192.00 421.50 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.00 421.50 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 421.50 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 421.50 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 87.00 391.50 105.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 192.00 391.50 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.00 391.50 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 391.50 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 391.50 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 87.00 361.50 105.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 192.00 361.50 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.00 361.50 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 361.50 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 361.50 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 87.00 331.50 105.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 192.00 331.50 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.00 331.50 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 331.50 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 331.50 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 87.00 301.50 105.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 192.00 301.50 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.00 301.50 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 301.50 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 301.50 83.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 87.00 271.50 105.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 192.00 271.50 83.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.00 271.50 83.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 358.00 271.50 83.00 -13.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 441.00 271.50 83.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 87 421.5 m 192 421.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 192 421.5 m 275 421.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275 421.5 m 358 421.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358 421.5 m 441 421.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 421.5 m 524 421.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 192 421.5 m 275 421.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275 421.5 m 358 421.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358 421.5 m 441 421.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 421.5 m 524 421.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 192 271.5 m 275 271.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275 271.5 m 358 271.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358 271.5 m 441 271.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 271.5 m 524 271.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 87 271.5 m 192 271.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 87 259.5 m 192 259.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 87 257.5 m 192 257.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 192 271.5 m 275 271.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 192 259.5 m 275 259.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 192 257.5 m 275 257.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275 271.5 m 358 271.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275 259.5 m 358 259.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275 257.5 m 358 257.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358 271.5 m 441 271.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358 259.5 m 441 259.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358 257.5 m 441 257.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 271.5 m 524 271.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 259.5 m 524 259.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 441 257.5 m 524 257.5 l s BT /F3 8.00 Tf ET q 0 0 0 rg BT 267.65 451.73 Td (TOTAL PORTFOLIO) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 367.40 433.73 Td (Rentable Square) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 390.75 425.73 Td (Feet) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 449.95 433.73 Td (Occupancy as of) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 453.50 425.73 Td (March 31, 2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 89.50 425.73 Td (State) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 220.55 425.73 Td (Stores) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 306.00 425.73 Td (Units) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 89.50 410.73 Td (Texas) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 262.90 410.73 Td (45) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 330.30 410.78 Td (17,503) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.20 410.78 Td (2,472,261) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 500.75 410.78 Td (82.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.35 410.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 89.50 395.73 Td (Oklahoma) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 262.90 395.73 Td (26) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 330.30 395.78 Td (12,230) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.20 395.78 Td (1,630,324) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 500.75 395.78 Td (86.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.35 395.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 89.50 380.73 Td (Oregon) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 262.90 380.73 Td (50) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 330.30 380.78 Td (19,654) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.20 380.78 Td (2,467,545) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 500.75 380.78 Td (90.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.35 380.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 89.50 365.73 Td (North Carolina) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 262.90 365.73 Td (19) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 334.75 365.78 Td (8,163) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.80 365.73 Td (973,183) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 500.75 365.78 Td (81.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.35 365.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 89.50 350.73 Td (Georgia) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 262.90 350.73 Td (16) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 334.75 350.78 Td (5,289) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.80 350.73 Td (676,891) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 500.75 350.78 Td (88.0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.35 350.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 89.50 335.73 Td (Colorado) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 267.35 335.73 Td (8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 334.75 335.78 Td (3,741) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.80 335.73 Td (453,166) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 500.75 335.78 Td (88.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.35 335.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 89.50 320.73 Td (Washington) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 262.90 320.73 Td (13) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 334.75 320.78 Td (4,517) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.80 320.73 Td (569,902) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 500.75 320.78 Td (89.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.35 320.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 89.50 305.73 Td (California) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 262.90 305.73 Td (28) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 330.30 305.78 Td (16,429) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 402.20 305.78 Td (1,978,159) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 500.75 305.78 Td (84.2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.35 305.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 89.50 290.73 Td (Arizona) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 262.90 290.73 Td (10) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 334.75 290.78 Td (5,943) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.80 290.73 Td (657,815) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 500.75 290.78 Td (78.1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.35 290.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 89.50 275.73 Td (Other ) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 111.73 279.54 Td (\(1\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 262.90 275.73 Td (10) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 334.75 275.78 Td (4,011) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 408.80 275.73 Td (511,088) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 500.75 275.78 Td (79.6) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 516.35 275.73 Td (%) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 89.50 262.73 Td (Total/Weighted Average) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 258.45 262.73 Td (225) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 330.30 262.78 Td (97,480) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 397.75 262.78 Td (12,390,334) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 500.75 262.78 Td (85.5) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 516.35 262.73 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F2 12.00 Tf ET BT /F2 7.80 Tf ET q 0 0 0 rg BT 51.50 96.40 Td (\(1\) ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 63.20 96.40 Td (Other ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 84.87 96.40 Td (states ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 107.85 96.40 Td (in ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 116.08 96.40 Td (our ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 129.52 96.40 Td (total ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 146.43 96.40 Td (portfolio ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 176.34 96.40 Td (include ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 203.22 96.40 Td (Mississippi, ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 245.26 96.40 Td (New ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 263.02 96.40 Td (Hampshire, ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 305.06 96.40 Td (Nevada, ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 336.28 96.40 Td (and ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 351.46 96.40 Td (South ) Tj ET Q BT /F2 7.80 Tf ET q 0 0 0 rg BT 374.01 96.40 Td (Carolina.) 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0.9333333333333333 1 rg /GS0 gs 512.50 355.50 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 546.50 355.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 550.50 355.50 31.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 581.50 355.50 31.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 612.50 355.50 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 646.50 355.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 650.50 355.50 31.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 681.50 355.50 31.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 712.50 355.50 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 325.50 66.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 110.50 325.50 32.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 142.50 325.50 43.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.50 325.50 55.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 325.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 244.50 325.50 31.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 325.50 31.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 325.50 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 325.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 325.50 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 325.50 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 325.50 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 325.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 325.50 31.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 325.50 31.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 325.50 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 546.50 325.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 550.50 325.50 31.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 581.50 325.50 31.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 612.50 325.50 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 646.50 325.50 4.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 650.50 325.50 31.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 681.50 325.50 31.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 712.50 325.50 34.00 -15.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 44.50 295.50 66.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 110.50 295.50 32.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 142.50 295.50 43.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 185.50 295.50 55.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 240.50 295.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 244.50 295.50 31.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 275.50 295.50 31.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 306.50 295.50 34.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 340.50 295.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 344.50 295.50 34.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 378.50 295.50 34.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 412.50 295.50 34.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 446.50 295.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 450.50 295.50 31.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 481.50 295.50 31.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 512.50 295.50 34.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 546.50 295.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 550.50 295.50 31.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 581.50 295.50 31.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 612.50 295.50 34.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 646.50 295.50 4.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 650.50 295.50 31.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 681.50 295.50 31.00 -21.00 re f /GS0 gs 0.8 0.9333333333333333 1 rg /GS0 gs 712.50 295.50 34.00 -21.00 re f /GS0 gs 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 44.5 524.5 m 110.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 110.5 524.5 m 142.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 142.5 524.5 m 185.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 185.5 524.5 m 240.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 240.5 524.5 m 244.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 244.5 524.5 m 275.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 524.5 m 306.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 524.5 m 340.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 340.5 524.5 m 344.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 524.5 m 378.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 524.5 m 412.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 524.5 m 446.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 446.5 524.5 m 450.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 524.5 m 481.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 524.5 m 512.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 524.5 m 546.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 546.5 524.5 m 550.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 550.5 524.5 m 581.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 581.5 524.5 m 612.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 612.5 524.5 m 646.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 646.5 524.5 m 650.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 650.5 524.5 m 681.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 681.5 524.5 m 712.5 524.5 l s 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 712.5 524.5 m 746.5 524.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244.5 429.5 m 275.5 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 429.5 m 306.5 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 429.5 m 378.5 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 429.5 m 412.5 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 429.5 m 481.5 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 429.5 m 512.5 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 429.5 m 546.5 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 550.5 429.5 m 581.5 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 581.5 429.5 m 612.5 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 612.5 429.5 m 646.5 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 650.5 429.5 m 681.5 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 681.5 429.5 m 712.5 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 712.5 429.5 m 746.5 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 44.5 415.5 m 110.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 110.5 415.5 m 142.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 142.5 415.5 m 185.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 185.5 415.5 m 240.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244.5 415.5 m 275.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 415.5 m 306.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 429.5 m 340.5 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 415.5 m 340.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 415.5 m 378.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 429.5 m 412.5 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 415.5 m 412.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 429.5 m 446.5 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 415.5 m 446.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 415.5 m 481.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 429.5 m 512.5 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 415.5 m 512.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 429.5 m 546.5 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 415.5 m 546.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 550.5 415.5 m 581.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 581.5 429.5 m 612.5 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 581.5 415.5 m 612.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 612.5 429.5 m 646.5 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 612.5 415.5 m 646.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 650.5 415.5 m 681.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 681.5 429.5 m 712.5 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 681.5 415.5 m 712.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 712.5 429.5 m 746.5 429.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 712.5 415.5 m 746.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 110.5 415.5 m 142.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 142.5 415.5 m 185.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 185.5 415.5 m 240.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244.5 415.5 m 275.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 415.5 m 306.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 415.5 m 378.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 415.5 m 412.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 415.5 m 481.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 415.5 m 512.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 415.5 m 546.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 612.5 415.5 m 646.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 681.5 415.5 m 712.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 712.5 415.5 m 746.5 415.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 110.5 295.5 m 142.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 142.5 295.5 m 185.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244.5 295.5 m 275.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 295.5 m 306.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 295.5 m 378.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 295.5 m 412.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 295.5 m 481.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 295.5 m 512.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 44.5 295.5 m 110.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 44.5 275.5 m 110.5 275.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 44.5 273.5 m 110.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 110.5 295.5 m 142.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 110.5 275.5 m 142.5 275.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 110.5 273.5 m 142.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 142.5 295.5 m 185.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 142.5 275.5 m 185.5 275.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 142.5 273.5 m 185.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 185.5 295.5 m 240.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 185.5 275.5 m 240.5 275.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 185.5 273.5 m 240.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244.5 295.5 m 275.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244.5 275.5 m 275.5 275.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244.5 273.5 m 275.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 295.5 m 306.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 275.5 m 306.5 275.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 275.5 273.5 m 306.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 295.5 m 340.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 275.5 m 340.5 275.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306.5 273.5 m 340.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 295.5 m 378.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 275.5 m 378.5 275.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 344.5 273.5 m 378.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 295.5 m 412.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 275.5 m 412.5 275.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378.5 273.5 m 412.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 295.5 m 446.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 275.5 m 446.5 275.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 412.5 273.5 m 446.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 295.5 m 481.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 275.5 m 481.5 275.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 450.5 273.5 m 481.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 295.5 m 512.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 275.5 m 512.5 275.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 481.5 273.5 m 512.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 295.5 m 546.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 275.5 m 546.5 275.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512.5 273.5 m 546.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 550.5 295.5 m 581.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 550.5 275.5 m 581.5 275.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 550.5 273.5 m 581.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 581.5 295.5 m 612.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 581.5 275.5 m 612.5 275.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 581.5 273.5 m 612.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 612.5 295.5 m 646.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 612.5 275.5 m 646.5 275.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 612.5 273.5 m 646.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 650.5 295.5 m 681.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 650.5 275.5 m 681.5 275.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 650.5 273.5 m 681.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 681.5 295.5 m 712.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 681.5 275.5 m 712.5 275.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 681.5 273.5 m 712.5 273.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 712.5 295.5 m 746.5 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 712.5 275.5 m 746.5 275.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 712.5 273.5 m 746.5 273.5 l s BT /F3 10.00 Tf ET q 0 0 0 rg BT 47.00 529.12 Td (Supplemental Schedule 6) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 47.00 510.72 Td (Same Store Performance Summary) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 47.00 497.72 Td (Three months ended March 31, 2015 compared to Three months ended March 31, 2014) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 47.00 485.45 Td (\(dollars in thousands, except per square foot data\) \(unaudited\)) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 146.60 435.73 Td (Rentable) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 149.90 427.73 Td (Square) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 155.25 419.73 Td (Feet) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 196.85 458.18 Td (Average) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 191.15 450.18 Td (Annualized) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 200.25 442.18 Td (Rental) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 188.45 434.18 Td (Revenue per) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 194.25 426.18 Td (Occupied) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 189.15 418.18 Td (Square Foot) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 247.20 449.73 Td (Average Occupancy for) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 258.65 441.73 Td (the Three Months) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 260.20 433.73 Td (Ended March 31,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 354.40 449.73 Td (Total Revenue for the) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 355.40 441.73 Td (Three Months Ended) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 376.50 433.73 Td (March 31,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 459.30 449.73 Td (Operating Expenses ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 458.20 441.73 Td (for the Three Months ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 466.20 433.73 Td (Ended March 31,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 556.40 449.73 Td (Net Operating Income) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 558.20 441.73 Td (for the Three Months ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 566.20 433.73 Td (Ended March 31,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 656.40 457.73 Td (Net Operating Income ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 684.85 449.73 Td (Margin) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 658.20 441.73 Td (for the Three Months ) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 666.20 433.73 Td (Ended March 31,) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 47.00 419.73 Td (State) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 113.55 419.73 Td (Stores) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 250.60 419.73 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 281.60 419.73 Td (2014) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 309.00 419.73 Td (Growth) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 352.10 419.73 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 386.10 419.73 Td (2014) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 415.00 419.73 Td (Growth) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 456.60 419.73 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 487.60 419.73 Td (2014) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 515.00 419.73 Td (Growth) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 556.60 419.73 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 587.60 419.73 Td (2014) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 615.00 419.73 Td (Growth) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 656.60 419.73 Td (2015) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 687.60 419.73 Td (2014) Tj ET Q BT /F3 8.00 Tf ET q 0 0 0 rg BT 715.00 419.73 Td (Growth) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 47.00 404.73 Td (Texas) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 130.40 404.73 Td (31) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 146.70 404.73 Td (1,221,088) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 188.00 404.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 221.70 404.73 Td (9.81) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 252.25 404.73 Td (85.6) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 267.85 404.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 283.25 404.73 Td (83.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.85 404.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 319.05 404.73 Td (1.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.80 404.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 347.00 404.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 355.25 404.73 Td (2,694) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 381.00 404.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 389.25 404.73 Td (2,532) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 427.70 404.73 Td (6.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.85 404.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 453.00 404.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.25 404.73 Td (1,116) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 484.00 404.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 489.25 404.73 Td (1,117) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 522.40 404.73 Td (\(0.1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 536.20 404.73 Td (\)%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 553.00 404.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.25 404.73 Td (1,578) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 584.00 404.73 Td ($) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 589.25 404.73 Td (1,415) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 620.60 404.73 Td (11.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 638.85 404.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 658.25 404.73 Td (58.6) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 673.85 404.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 689.25 404.73 Td (55.9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 704.85 404.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 725.05 404.73 Td (2.7) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 738.85 404.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 47.00 389.73 Td (Oklahoma) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 130.40 389.73 Td (26) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 146.70 389.73 Td (1,630,324) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 221.70 389.73 Td (8.38) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 252.25 389.73 Td (86.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 267.85 389.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 283.25 389.73 Td (83.2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.85 389.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 319.05 389.73 Td (3.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.80 389.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 355.25 389.73 Td (3,008) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 389.25 389.73 Td (2,795) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 427.70 389.73 Td (7.6) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.85 389.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 458.25 389.73 Td (1,001) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.95 389.73 Td (917) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.05 389.73 Td (9.2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 538.85 389.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.25 389.73 Td (2,007) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 589.25 389.73 Td (1,878) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 625.05 389.73 Td (6.9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 638.85 389.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 658.25 389.73 Td (66.7) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 673.85 389.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 689.25 389.73 Td (67.2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 704.85 389.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 722.40 389.73 Td (\(0.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 736.20 389.73 Td (\)%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 47.00 374.73 Td (Oregon) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 130.40 374.73 Td (26) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 146.70 374.73 Td (1,198,728) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 217.25 374.78 Td (11.14) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 252.25 374.73 Td (90.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 267.85 374.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 283.25 374.73 Td (87.9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.85 374.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 319.05 374.73 Td (2.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.80 374.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 355.25 374.73 Td (3,043) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 389.25 374.73 Td (2,774) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 427.70 374.73 Td (9.7) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.85 374.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.95 374.73 Td (959) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.95 374.73 Td (935) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.05 374.73 Td (2.6) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 538.85 374.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.25 374.73 Td (2,084) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 589.25 374.73 Td (1,839) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 620.60 374.73 Td (13.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 638.85 374.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 658.25 374.73 Td (68.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 673.85 374.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 689.25 374.73 Td (66.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 704.85 374.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 725.05 374.73 Td (2.2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 738.85 374.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 47.00 359.73 Td (North Carolina) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 130.40 359.73 Td (15) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 153.35 359.73 Td (767,799) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 217.25 359.78 Td (10.11) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 252.25 359.73 Td (78.6) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 267.85 359.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 283.25 359.73 Td (79.6) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.85 359.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 316.40 359.73 Td (\(1.0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 330.20 359.73 Td (\)%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 355.25 359.73 Td (1,571) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 389.25 359.73 Td (1,559) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 427.70 359.73 Td (0.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.85 359.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.95 359.73 Td (546) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.95 359.73 Td (519) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 525.05 359.73 Td (5.2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 538.85 359.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 558.25 359.73 Td (1,025) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 589.25 359.73 Td (1,040) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 622.40 359.73 Td (\(1.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 636.20 359.73 Td (\)%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 658.25 359.73 Td (65.2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 673.85 359.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 689.25 359.73 Td (66.7) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 704.85 359.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 722.40 359.73 Td (\(1.5) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 736.20 359.73 Td (\)%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 47.00 344.73 Td (Georgia) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 130.40 344.73 Td (14) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 153.35 344.73 Td (561,006) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 221.70 344.73 Td (8.08) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 252.25 344.73 Td (87.1) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 267.85 344.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 283.25 344.73 Td (77.9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.85 344.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 319.05 344.73 Td (9.2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.80 344.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 355.25 344.73 Td (1,012) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 395.95 344.73 Td (860) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.25 344.78 Td (17.7) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.85 344.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.95 344.73 Td (472) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.95 344.73 Td (422) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 520.60 344.78 Td (11.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 538.85 344.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 564.95 344.78 Td (540) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 595.95 344.73 Td (438) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 620.60 344.73 Td (23.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 638.85 344.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 658.25 344.73 Td (53.4) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 673.85 344.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 689.25 344.73 Td (50.9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 704.85 344.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 725.05 344.73 Td (2.5) Tj ET Q 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314.73 Td (207,149) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 217.25 314.78 Td (11.27) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 252.25 314.73 Td (91.2) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 267.85 314.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 283.25 314.73 Td (82.6) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 298.85 314.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 319.05 314.73 Td (8.6) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 332.80 314.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.95 314.73 Td (542) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 395.95 314.73 Td (466) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 423.25 314.78 Td (16.3) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 438.85 314.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 464.95 314.73 Td (159) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 495.95 314.73 Td (159) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 528.20 314.73 Td () Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 538.85 314.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 564.95 314.78 Td (383) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 595.95 314.73 Td (307) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 620.60 314.73 Td (24.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 638.85 314.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 658.25 314.73 Td (70.7) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 673.85 314.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 689.25 314.73 Td (65.9) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 704.85 314.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 725.05 314.73 Td (4.8) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 738.85 314.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 47.00 299.73 Td (Other) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 130.40 299.73 Td (11) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 153.35 299.73 Td (536,674) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 221.70 299.73 Td (9.97) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 252.25 299.73 Td (77.0) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 267.85 299.73 Td (%) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 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(Information ) Tj ET Q q 0 0 0 rg BT 306.31 665.45 Td (include ) Tj ET Q q 0 0 0 rg BT 343.10 665.45 Td (certain ) Tj ET Q q 0 0 0 rg BT 378.05 665.45 Td (financial ) Tj ET Q q 0 0 0 rg BT 420.34 665.45 Td (and ) Tj ET Q q 0 0 0 rg BT 440.63 665.45 Td (operating ) Tj ET Q q 0 0 0 rg BT 488.43 665.45 Td (measures ) Tj ET Q q 0 0 0 rg BT 538.66 665.45 Td (used ) Tj ET Q BT /F5 11.00 Tf ET q 0 0 0 rg BT 49.50 652.25 Td (by ) Tj ET Q q 0 0 0 rg BT 64.35 652.25 Td (NSA) Tj ET Q q 0 0 0 rg BT 86.55 652.25 Td ( ) Tj ET Q q 0 0 0 rg BT 89.78 652.25 Td (management ) Tj ET Q q 0 0 0 rg BT 157.22 652.25 Td (that ) Tj ET Q q 0 0 0 rg BT 178.79 652.25 Td (are ) Tj ET Q q 0 0 0 rg BT 197.92 652.25 Td (not ) Tj ET Q q 0 0 0 rg BT 216.44 652.25 Td (calculated ) Tj ET Q q 0 0 0 rg BT 269.20 652.25 Td (in ) Tj ET Q q 0 0 0 rg BT 280.98 652.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 341.08 652.25 Td (with ) Tj ET Q q 0 0 0 rg BT 363.87 652.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 420.30 652.25 Td (principles ) Tj ET Q q 0 0 0 rg BT 470.00 652.25 Td (generally ) Tj ET Q q 0 0 0 rg BT 517.86 652.25 Td (accepted ) Tj ET Q BT /F5 11.00 Tf ET q 0 0 0 rg BT 49.50 639.05 Td (in ) Tj ET Q q 0 0 0 rg BT 60.24 639.05 Td (the ) Tj ET Q q 0 0 0 rg BT 77.71 639.05 Td (United ) Tj ET Q q 0 0 0 rg BT 111.69 639.05 Td (States, ) Tj ET Q q 0 0 0 rg BT 148.11 639.05 Td (or ) Tj ET Q q 0 0 0 rg BT 160.07 639.05 Td (GAAP) Tj ET Q q 0 0 0 rg BT 189.22 639.05 Td (. ) Tj ET Q q 0 0 0 rg BT 194.46 639.05 Td (NSA's ) Tj ET Q q 0 0 0 rg BT 226.86 639.05 Td (definitions ) Tj ET Q q 0 0 0 rg BT 278.57 639.05 Td (and ) Tj ET Q q 0 0 0 rg BT 299.10 639.05 Td (calculations ) Tj ET Q q 0 0 0 rg BT 358.76 639.05 Td (of ) Tj ET Q q 0 0 0 rg BT 370.11 639.05 Td (these ) Tj ET Q q 0 0 0 rg BT 399.20 639.05 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 451.38 639.05 Td ( ) Tj ET Q q 0 0 0 rg BT 453.56 639.05 Td (financial ) Tj ET Q q 0 0 0 rg BT 496.09 639.05 Td (and ) Tj ET Q q 0 0 0 rg BT 516.63 639.05 Td (operating ) Tj ET Q BT /F5 11.00 Tf ET q 0 0 0 rg BT 49.50 625.85 Td (measures ) Tj ET Q q 0 0 0 rg BT 101.99 625.85 Td (and ) Tj ET Q q 0 0 0 rg BT 124.55 625.85 Td (other ) Tj ET Q q 0 0 0 rg BT 153.82 625.85 Td (terms ) Tj ET Q q 0 0 0 rg BT 185.51 625.85 Td (may ) Tj ET Q q 0 0 0 rg BT 210.49 625.85 Td (differ ) Tj ET Q q 0 0 0 rg BT 239.14 625.85 Td (from ) Tj ET Q q 0 0 0 rg BT 265.34 625.85 Td (the ) Tj ET Q q 0 0 0 rg BT 284.83 625.85 Td (definitions ) Tj ET Q q 0 0 0 rg BT 338.56 625.85 Td (and ) Tj ET Q q 0 0 0 rg BT 361.11 625.85 Td (methodologies ) Tj ET Q q 0 0 0 rg BT 436.86 625.85 Td (used ) Tj ET Q q 0 0 0 rg BT 464.91 625.85 Td (by ) Tj ET Q q 0 0 0 rg BT 480.72 625.85 Td (other ) Tj ET Q q 0 0 0 rg BT 509.99 625.85 Td (real ) Tj ET Q q 0 0 0 rg BT 532.53 625.85 Td (estate ) Tj ET Q BT /F5 11.00 Tf ET q 0 0 0 rg BT 49.50 612.65 Td (companies ) Tj ET Q q 0 0 0 rg BT 105.70 612.65 Td (and, ) Tj ET Q q 0 0 0 rg BT 130.12 612.65 Td (accordingly) Tj ET Q q 0 0 0 rg BT 184.94 612.65 Td (, ) Tj ET Q q 0 0 0 rg BT 191.00 612.65 Td (may ) Tj ET Q q 0 0 0 rg BT 214.79 612.65 Td (not ) Tj ET Q q 0 0 0 rg BT 233.08 612.65 Td (be ) Tj ET Q q 0 0 0 rg BT 248.32 612.65 Td (comparable. ) Tj ET Q q 0 0 0 rg BT 311.86 612.65 Td (These ) Tj ET Q q 0 0 0 rg BT 345.44 612.65 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 397.61 612.65 Td ( ) Tj ET Q q 0 0 0 rg BT 400.62 612.65 Td (financial ) Tj ET Q q 0 0 0 rg BT 443.98 612.65 Td (and ) Tj ET Q q 0 0 0 rg BT 465.34 612.65 Td (operating ) Tj ET Q q 0 0 0 rg BT 514.22 612.65 Td (measures ) Tj ET Q BT /F5 11.00 Tf ET q 0 0 0 rg BT 49.50 599.45 Td (should ) Tj ET Q q 0 0 0 rg BT 83.49 599.45 Td (not ) Tj ET Q q 0 0 0 rg BT 100.36 599.45 Td (be ) Tj ET Q q 0 0 0 rg BT 114.18 599.45 Td (considered ) Tj ET Q q 0 0 0 rg BT 169.57 599.45 Td (an ) Tj ET Q q 0 0 0 rg BT 183.38 599.45 Td (alternative ) Tj ET Q q 0 0 0 rg BT 235.71 599.45 Td (to ) Tj ET Q q 0 0 0 rg BT 246.47 599.45 Td (GAAP) Tj ET Q q 0 0 0 rg BT 276.62 599.45 Td ( ) Tj ET Q q 0 0 0 rg BT 278.20 599.45 Td (net ) Tj ET Q q 0 0 0 rg BT 295.07 599.45 Td (income ) Tj ET Q q 0 0 0 rg BT 332.11 599.45 Td (or ) Tj ET Q q 0 0 0 rg BT 343.47 599.45 Td (any ) Tj ET Q q 0 0 0 rg BT 362.78 599.45 Td (other ) Tj ET Q q 0 0 0 rg BT 389.44 599.45 Td (GAAP) Tj ET Q q 0 0 0 rg BT 419.59 599.45 Td ( ) Tj ET Q q 0 0 0 rg BT 421.17 599.45 Td (measurement ) Tj ET Q q 0 0 0 rg BT 490.00 599.45 Td (of ) Tj ET Q q 0 0 0 rg BT 500.76 599.45 Td (performance ) Tj ET Q BT /F5 11.00 Tf ET q 0 0 0 rg BT 49.50 586.25 Td (and ) Tj ET Q q 0 0 0 rg BT 70.91 586.25 Td (should ) Tj ET Q q 0 0 0 rg BT 106.38 586.25 Td (not ) Tj ET Q q 0 0 0 rg BT 124.73 586.25 Td (be ) Tj ET Q q 0 0 0 rg BT 140.02 586.25 Td (considered ) Tj ET Q q 0 0 0 rg BT 196.89 586.25 Td (an ) Tj ET Q q 0 0 0 rg BT 212.18 586.25 Td (alternative ) Tj ET Q q 0 0 0 rg BT 265.99 586.25 Td (measure ) Tj ET Q q 0 0 0 rg BT 311.84 586.25 Td (of ) Tj ET Q q 0 0 0 rg BT 324.07 586.25 Td (liquidity) Tj ET Q q 0 0 0 rg BT 359.94 586.25 Td (.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 48 575.75 m 151 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 151 575.75 m 254 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 254 575.75 m 357 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 357 575.75 m 460 575.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 575.75 m 563 575.75 l s BT /F1 10.00 Tf ET BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 557.05 Td (ANNUALIZED ) Tj ET Q q 0 0 0 rg BT 127.09 557.05 Td (RENT) Tj ET Q q 0 0 0 rg BT 156.22 557.05 Td (AL) Tj ET Q q 0 0 0 rg BT 170.69 557.05 Td ( ) Tj ET Q q 0 0 0 rg BT 176.78 557.05 Td (REVENUE:) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 233.63 557.05 Td ( ) Tj ET Q q 0 0 0 rg BT 238.51 557.05 Td (Annualized ) Tj ET Q q 0 0 0 rg BT 299.04 557.05 Td (rental ) Tj ET Q q 0 0 0 rg BT 332.66 557.05 Td (revenue ) Tj ET Q q 0 0 0 rg BT 378.51 557.05 Td (is ) Tj ET Q q 0 0 0 rg BT 392.55 557.05 Td (annualized ) Tj ET Q q 0 0 0 rg BT 451.86 557.05 Td (total ) Tj ET Q q 0 0 0 rg BT 478.75 557.05 Td (revenue ) Tj ET Q q 0 0 0 rg BT 524.60 557.05 Td (per ) Tj ET Q q 0 0 0 rg BT 546.60 557.05 Td (our ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 543.85 Td (statements ) Tj ET Q q 0 0 0 rg BT 106.36 543.85 Td (of ) Tj ET Q q 0 0 0 rg BT 118.59 543.85 Td (operations ) Tj ET Q q 0 0 0 rg BT 173.01 543.85 Td (\(which ) Tj ET Q q 0 0 0 rg BT 207.86 543.85 Td (includes ) Tj ET Q q 0 0 0 rg BT 251.27 543.85 Td (fees ) Tj ET Q q 0 0 0 rg BT 275.12 543.85 Td (and ) Tj ET Q q 0 0 0 rg BT 296.53 543.85 Td (is ) Tj ET Q q 0 0 0 rg BT 307.53 543.85 Td (net ) Tj ET Q q 0 0 0 rg BT 325.88 543.85 Td (of ) Tj ET Q q 0 0 0 rg BT 338.10 543.85 Td (any ) Tj ET Q q 0 0 0 rg BT 358.90 543.85 Td (discounts\).) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 524.65 Td (A) Tj ET Q q 0 0 0 rg BT 56.63 524.65 Td (VERAGE ) Tj ET Q q 0 0 0 rg BT 105.02 524.65 Td (ANNUALIZED ) Tj ET Q q 0 0 0 rg BT 178.74 524.65 Td (CONTRACTUAL) Tj ET Q q 0 0 0 rg BT 262.87 524.65 Td ( ) Tj ET Q q 0 0 0 rg BT 265.10 524.65 Td (RENT ) Tj ET Q q 0 0 0 rg BT 297.27 524.65 Td (PER ) Tj ET Q q 0 0 0 rg BT 322.12 524.65 Td (OCCUPIED ) Tj ET Q q 0 0 0 rg BT 382.42 524.65 Td (SQUARE ) Tj ET Q q 0 0 0 rg BT 431.71 524.65 Td (FOOT) Tj ET Q q 0 0 0 rg BT 461.04 524.65 Td (: ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 466.94 524.65 Td (Contractual ) Tj ET Q q 0 0 0 rg BT 525.42 524.65 Td (rent ) Tj ET Q q 0 0 0 rg BT 546.61 524.65 Td (per ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 511.45 Td (occupied ) Tj ET Q q 0 0 0 rg BT 96.53 511.45 Td (square ) Tj ET Q q 0 0 0 rg BT 133.17 511.45 Td (foot ) Tj ET Q q 0 0 0 rg BT 154.52 511.45 Td (represents ) Tj ET Q q 0 0 0 rg BT 209.49 511.45 Td (annualized ) Tj ET Q q 0 0 0 rg BT 265.71 511.45 Td (contractual ) Tj ET Q q 0 0 0 rg BT 322.52 511.45 Td (rents ) Tj ET Q q 0 0 0 rg BT 349.98 511.45 Td (per ) Tj ET Q q 0 0 0 rg BT 368.88 511.45 Td (occupied ) Tj ET Q q 0 0 0 rg BT 415.91 511.45 Td (square ) Tj ET Q q 0 0 0 rg BT 452.55 511.45 Td (foot ) Tj ET Q q 0 0 0 rg BT 473.90 511.45 Td (without ) Tj ET Q q 0 0 0 rg BT 511.75 511.45 Td (reductions ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 498.25 Td (for ) Tj ET Q q 0 0 0 rg BT 65.39 498.25 Td (promotional ) Tj ET Q q 0 0 0 rg BT 125.93 498.25 Td (discounts ) Tj ET Q q 0 0 0 rg BT 175.45 498.25 Td (and ) Tj ET Q q 0 0 0 rg BT 196.86 498.25 Td (excluding ) Tj ET Q q 0 0 0 rg BT 246.39 498.25 Td (late ) Tj ET Q q 0 0 0 rg BT 267.19 498.25 Td (charges ) Tj ET Q q 0 0 0 rg BT 309.38 498.25 Td (and ) Tj ET Q q 0 0 0 rg BT 330.78 498.25 Td (administrative ) Tj ET Q q 0 0 0 rg BT 401.70 498.25 Td (fees.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 479.05 Td (A) Tj ET Q q 0 0 0 rg BT 56.63 479.05 Td (VERAGE ) Tj ET Q q 0 0 0 rg BT 106.64 479.05 Td (ANNUALIZED ) Tj ET Q q 0 0 0 rg BT 182.25 479.05 Td (RENT) Tj ET Q q 0 0 0 rg BT 211.37 479.05 Td (AL) Tj ET Q q 0 0 0 rg BT 225.84 479.05 Td ( ) Tj ET Q q 0 0 0 rg BT 229.95 479.05 Td (REVENUE ) Tj ET Q q 0 0 0 rg BT 287.24 479.05 Td (PER ) Tj ET Q q 0 0 0 rg BT 313.97 479.05 Td (OCCUPIED ) Tj ET Q q 0 0 0 rg BT 376.14 479.05 Td (SQUARE ) Tj ET Q q 0 0 0 rg BT 427.31 479.05 Td (FOOT) Tj ET Q q 0 0 0 rg BT 456.64 479.05 Td (: ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 464.41 479.05 Td (A) Tj ET Q q 0 0 0 rg BT 471.55 479.05 Td (verage ) Tj ET Q q 0 0 0 rg BT 509.29 479.05 Td (annualized ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 465.85 Td (rental ) Tj ET Q q 0 0 0 rg BT 81.07 465.85 Td (revenue ) Tj ET Q q 0 0 0 rg BT 124.88 465.85 Td (per ) Tj ET Q q 0 0 0 rg BT 144.84 465.85 Td (occupied ) Tj ET Q q 0 0 0 rg BT 192.93 465.85 Td (square ) Tj ET Q q 0 0 0 rg BT 230.62 465.85 Td (foot ) Tj ET Q q 0 0 0 rg BT 253.03 465.85 Td (is ) Tj ET Q q 0 0 0 rg BT 265.03 465.85 Td (computed ) Tj ET Q q 0 0 0 rg BT 317.39 465.85 Td (by ) Tj ET Q q 0 0 0 rg BT 333.07 465.85 Td (dividing ) Tj ET Q q 0 0 0 rg BT 374.43 465.85 Td (annualized ) Tj ET Q q 0 0 0 rg BT 431.70 465.85 Td (rental ) Tj ET Q q 0 0 0 rg BT 463.27 465.85 Td (revenue ) Tj ET Q q 0 0 0 rg BT 507.08 465.85 Td (by ) Tj ET Q q 0 0 0 rg BT 522.75 465.85 Td (average ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 452.65 Td (occupied ) Tj ET Q q 0 0 0 rg BT 96.59 452.65 Td (square ) Tj ET Q q 0 0 0 rg BT 133.28 452.65 Td (feet. ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 433.45 Td (A) Tj ET Q q 0 0 0 rg BT 56.63 433.45 Td (VERAGE ) Tj ET Q q 0 0 0 rg BT 108.19 433.45 Td (OCCUP) Tj ET Q q 0 0 0 rg BT 147.10 433.45 Td (ANCY) Tj ET Q q 0 0 0 rg BT 177.46 433.45 Td (: ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 186.23 433.45 Td (A) Tj ET Q q 0 0 0 rg BT 193.37 433.45 Td (verage ) Tj ET Q q 0 0 0 rg BT 232.12 433.45 Td (occupancy ) Tj ET Q q 0 0 0 rg BT 289.82 433.45 Td (is ) Tj ET Q q 0 0 0 rg BT 302.87 433.45 Td (calculated ) Tj ET Q q 0 0 0 rg BT 357.52 433.45 Td (based ) Tj ET Q q 0 0 0 rg BT 392.60 433.45 Td (on ) Tj ET Q q 0 0 0 rg BT 409.95 433.45 Td (the ) Tj ET Q q 0 0 0 rg BT 430.35 433.45 Td (average ) Tj ET Q q 0 0 0 rg BT 475.22 433.45 Td (of ) Tj ET Q q 0 0 0 rg BT 489.51 433.45 Td (the ) Tj ET Q q 0 0 0 rg BT 509.91 433.45 Td (month-end ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 420.25 Td (occupancy ) Tj ET Q q 0 0 0 rg BT 105.96 420.25 Td (immediately ) Tj ET Q q 0 0 0 rg BT 168.51 420.25 Td (preceding ) Tj ET Q q 0 0 0 rg BT 220.69 420.25 Td (the ) Tj ET Q q 0 0 0 rg BT 239.85 420.25 Td (period ) Tj ET Q q 0 0 0 rg BT 274.30 420.25 Td (presented ) Tj ET Q q 0 0 0 rg BT 327.09 420.25 Td (and ) Tj ET Q q 0 0 0 rg BT 349.31 420.25 Td (the ) Tj ET Q q 0 0 0 rg BT 368.47 420.25 Td (month-end ) Tj ET Q q 0 0 0 rg BT 424.93 420.25 Td (occupancies ) Tj ET Q q 0 0 0 rg BT 489.94 420.25 Td (included ) Tj ET Q q 0 0 0 rg BT 534.79 420.25 Td (in ) Tj ET Q q 0 0 0 rg BT 547.22 420.25 Td (the ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 407.05 Td (respective ) Tj ET Q q 0 0 0 rg BT 102.69 407.05 Td (period ) Tj ET Q q 0 0 0 rg BT 136.32 407.05 Td (presented.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 387.85 Td (CAPIT) Tj ET Q q 0 0 0 rg BT 81.68 387.85 Td (AL) Tj ET Q q 0 0 0 rg BT 96.15 387.85 Td ( ) Tj ET Q q 0 0 0 rg BT 99.20 387.85 Td (EXPENDITURES ) Tj ET Q q 0 0 0 rg BT 187.83 387.85 Td (DEFINITIONS) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 81.00 368.65 Td (ACQUISITIONS ) Tj ET Q q 0 0 0 rg BT 166.94 368.65 Td (CAPIT) Tj ET Q q 0 0 0 rg BT 199.12 368.65 Td (AL) Tj ET Q q 0 0 0 rg BT 213.59 368.65 Td ( ) Tj ET Q q 0 0 0 rg BT 220.08 368.65 Td (EXPENDITURES: ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 315.80 368.65 Td (Acquisitions ) Tj ET Q q 0 0 0 rg BT 380.98 368.65 Td (capital ) Tj ET Q q 0 0 0 rg BT 419.27 368.65 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 488.75 368.65 Td (represents ) Tj ET Q q 0 0 0 rg BT 547.21 368.65 Td (the ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 81.00 355.45 Td (portion ) Tj ET Q q 0 0 0 rg BT 121.02 355.45 Td (of ) Tj ET Q q 0 0 0 rg BT 136.59 355.45 Td (capital ) Tj ET Q q 0 0 0 rg BT 174.77 355.45 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 244.15 355.45 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 302.52 355.45 Td (during ) Tj ET Q q 0 0 0 rg BT 339.48 355.45 Td (the ) Tj ET Q q 0 0 0 rg BT 361.16 355.45 Td (current ) Tj ET Q q 0 0 0 rg BT 401.79 355.45 Td (period ) Tj ET Q q 0 0 0 rg BT 438.76 355.45 Td (that ) Tj ET Q q 0 0 0 rg BT 463.49 355.45 Td (were ) Tj ET Q q 0 0 0 rg BT 493.73 355.45 Td (identified ) Tj ET Q q 0 0 0 rg BT 544.15 355.45 Td (and ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 81.00 342.25 Td (underwritten ) Tj ET Q q 0 0 0 rg BT 144.59 342.25 Td (prior ) Tj ET Q q 0 0 0 rg BT 169.65 342.25 Td (to ) Tj ET Q q 0 0 0 rg BT 181.88 342.25 Td (a ) Tj ET Q q 0 0 0 rg BT 191.05 342.25 Td (property's ) Tj ET Q q 0 0 0 rg BT 242.06 342.25 Td (acquisition. ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 81.00 323.05 Td (RECURRING ) Tj ET Q q 0 0 0 rg BT 150.55 323.05 Td (CAPIT) Tj ET Q q 0 0 0 rg BT 182.74 323.05 Td (AL) Tj ET Q q 0 0 0 rg BT 197.20 323.05 Td ( ) Tj ET Q q 0 0 0 rg BT 200.14 323.05 Td (EXPENDITURES: ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 292.32 323.05 Td (Recurring ) Tj ET Q q 0 0 0 rg BT 342.95 323.05 Td (capital ) Tj ET Q q 0 0 0 rg BT 377.68 323.05 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 443.61 323.05 Td (represents ) Tj ET Q q 0 0 0 rg BT 498.52 323.05 Td (the ) Tj ET Q q 0 0 0 rg BT 516.76 323.05 Td (portion ) Tj ET Q q 0 0 0 rg BT 553.33 323.05 Td (of ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 81.00 309.85 Td (capital ) Tj ET Q q 0 0 0 rg BT 115.85 309.85 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 181.90 309.85 Td (that ) Tj ET Q q 0 0 0 rg BT 203.30 309.85 Td (are ) Tj ET Q q 0 0 0 rg BT 222.25 309.85 Td (deemed ) Tj ET Q q 0 0 0 rg BT 265.06 309.85 Td (toreplace ) Tj ET Q q 0 0 0 rg BT 316.43 309.85 Td (the ) Tj ET Q q 0 0 0 rg BT 334.77 309.85 Td (consumed ) Tj ET Q q 0 0 0 rg BT 388.58 309.85 Td (portion ) Tj ET Q q 0 0 0 rg BT 425.27 309.85 Td (of ) Tj ET Q q 0 0 0 rg BT 437.50 309.85 Td (acquired ) Tj ET Q q 0 0 0 rg BT 482.75 309.85 Td (capital ) Tj ET Q q 0 0 0 rg BT 517.61 309.85 Td (assets.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 81.00 290.65 Td (REVENUE ) Tj ET Q q 0 0 0 rg BT 139.36 290.65 Td (ENHANCING ) Tj ET Q q 0 0 0 rg BT 211.15 290.65 Td (CAPIT) Tj ET Q q 0 0 0 rg BT 243.33 290.65 Td (AL) Tj ET Q q 0 0 0 rg BT 257.79 290.65 Td ( ) Tj ET Q q 0 0 0 rg BT 262.97 290.65 Td (EXPENDITURES: ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 357.38 290.65 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 406.59 290.65 Td (enhancing ) Tj ET Q q 0 0 0 rg BT 462.54 290.65 Td (capital ) Tj ET Q q 0 0 0 rg BT 499.51 290.65 Td (expenditures ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 81.00 277.45 Td (represents ) Tj ET Q q 0 0 0 rg BT 135.43 277.45 Td (the ) Tj ET Q q 0 0 0 rg BT 153.19 277.45 Td (portion ) Tj ET Q q 0 0 0 rg BT 189.28 277.45 Td (of ) Tj ET Q q 0 0 0 rg BT 200.92 277.45 Td (capital ) Tj ET Q q 0 0 0 rg BT 235.18 277.45 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 300.63 277.45 Td (that ) Tj ET Q q 0 0 0 rg BT 321.44 277.45 Td (are ) Tj ET Q q 0 0 0 rg BT 339.80 277.45 Td (made ) Tj ET Q q 0 0 0 rg BT 369.78 277.45 Td (to ) Tj ET Q q 0 0 0 rg BT 381.41 277.45 Td (enhance ) Tj ET Q q 0 0 0 rg BT 426.08 277.45 Td (the ) Tj ET Q q 0 0 0 rg BT 443.84 277.45 Td (revenue, ) Tj ET Q q 0 0 0 rg BT 489.11 277.45 Td (value, ) Tj ET Q q 0 0 0 rg BT 520.92 277.45 Td (or ) Tj ET Q q 0 0 0 rg BT 533.16 277.45 Td (useful ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 81.00 264.25 Td (life ) Tj ET Q q 0 0 0 rg BT 98.12 264.25 Td (of ) Tj ET Q q 0 0 0 rg BT 110.35 264.25 Td (an ) Tj ET Q q 0 0 0 rg BT 125.64 264.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 154.99 264.25 Td (from ) Tj ET Q q 0 0 0 rg BT 180.04 264.25 Td (its ) Tj ET Q q 0 0 0 rg BT 194.10 264.25 Td (original ) Tj ET Q q 0 0 0 rg BT 232.62 264.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 280.93 264.25 Td (condition.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 245.05 Td (EBITDA: ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 95.93 245.05 Td (W) Tj ET Q q 0 0 0 rg BT 106.11 245.05 Td (e ) Tj ET Q q 0 0 0 rg BT 114.06 245.05 Td (define ) Tj ET Q q 0 0 0 rg BT 145.85 245.05 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 184.97 245.05 Td ( ) Tj ET Q q 0 0 0 rg BT 186.80 245.05 Td (as ) Tj ET Q q 0 0 0 rg BT 200.24 245.05 Td (net ) Tj ET Q q 0 0 0 rg BT 217.35 245.05 Td (income ) Tj ET Q q 0 0 0 rg BT 254.64 245.05 Td (\(loss\), ) Tj ET Q q 0 0 0 rg BT 286.40 245.05 Td (as ) Tj ET Q q 0 0 0 rg BT 299.85 245.05 Td (determined ) Tj ET Q q 0 0 0 rg BT 356.70 245.05 Td (under ) Tj ET Q q 0 0 0 rg BT 386.66 245.05 Td (GAAP) Tj ET Q q 0 0 0 rg BT 415.81 245.05 Td (, ) Tj ET Q q 0 0 0 rg BT 420.69 245.05 Td (plus ) Tj ET Q q 0 0 0 rg BT 442.69 245.05 Td (interest ) Tj ET Q q 0 0 0 rg BT 480.59 245.05 Td (expense, ) Tj ET Q q 0 0 0 rg BT 527.06 245.05 Td (income ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 231.85 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 81.46 231.85 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 144.01 231.85 Td (and ) Tj ET Q q 0 0 0 rg BT 164.98 231.85 Td (amortization ) Tj ET Q q 0 0 0 rg BT 227.51 231.85 Td (expense. ) Tj ET Q q 0 0 0 rg BT 274.78 231.85 Td (W) Tj ET Q q 0 0 0 rg BT 284.96 231.85 Td (e ) Tj ET Q q 0 0 0 rg BT 293.69 231.85 Td (define ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 326.28 231.85 Td (ADJUSTED ) Tj ET Q q 0 0 0 rg BT 388.19 231.85 Td (EBITDA) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 429.13 231.85 Td ( ) Tj ET Q q 0 0 0 rg BT 431.75 231.85 Td (as ) Tj ET Q q 0 0 0 rg BT 445.98 231.85 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 485.10 231.85 Td ( ) Tj ET Q q 0 0 0 rg BT 487.72 231.85 Td (plus ) Tj ET Q q 0 0 0 rg BT 510.52 231.85 Td (acquisition ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 218.65 Td (costs, ) Tj ET Q q 0 0 0 rg BT 83.86 218.65 Td (organizational ) Tj ET Q q 0 0 0 rg BT 157.98 218.65 Td (and ) Tj ET Q q 0 0 0 rg BT 181.96 218.65 Td (of) Tj ET Q q 0 0 0 rg BT 190.93 218.65 Td (fering ) Tj ET Q q 0 0 0 rg BT 224.08 218.65 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 279.85 218.65 Td (equity-based ) Tj ET Q q 0 0 0 rg BT 348.46 218.65 Td (compensation ) Tj ET Q q 0 0 0 rg BT 422.58 218.65 Td (expense, ) Tj ET Q q 0 0 0 rg BT 472.85 218.65 Td (losses ) Tj ET Q q 0 0 0 rg BT 509.66 218.65 Td (on ) Tj ET Q q 0 0 0 rg BT 527.52 218.65 Td (sale ) Tj ET Q q 0 0 0 rg BT 553.32 218.65 Td (of ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 205.45 Td (properties, ) Tj ET Q q 0 0 0 rg BT 105.26 205.45 Td (and ) Tj ET Q q 0 0 0 rg BT 127.40 205.45 Td (impairment ) Tj ET Q q 0 0 0 rg BT 185.59 205.45 Td (of ) Tj ET Q q 0 0 0 rg BT 198.56 205.45 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 249.43 205.45 Td (assets; ) Tj ET Q q 0 0 0 rg BT 288.07 205.45 Td (and ) Tj ET Q q 0 0 0 rg BT 310.21 205.45 Td (by ) Tj ET Q q 0 0 0 rg BT 325.62 205.45 Td (subtracting ) Tj ET Q q 0 0 0 rg BT 383.21 205.45 Td (gains ) Tj ET Q q 0 0 0 rg BT 413.30 205.45 Td (on ) Tj ET Q q 0 0 0 rg BT 429.32 205.45 Td (sale ) Tj ET Q q 0 0 0 rg BT 453.29 205.45 Td (of ) Tj ET Q q 0 0 0 rg BT 466.25 205.45 Td (properties ) Tj ET Q q 0 0 0 rg BT 518.96 205.45 Td (and ) Tj ET Q q 0 0 0 rg BT 541.10 205.45 Td (debt ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 192.25 Td (forgiveness. ) Tj ET Q q 0 0 0 rg BT 111.83 192.25 Td (These ) Tj ET Q q 0 0 0 rg BT 145.64 192.25 Td (further ) Tj ET Q q 0 0 0 rg BT 180.67 192.25 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 243.21 192.25 Td (eliminate ) Tj ET Q q 0 0 0 rg BT 290.47 192.25 Td (the ) Tj ET Q q 0 0 0 rg BT 308.99 192.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 344.63 192.25 Td (of ) Tj ET Q q 0 0 0 rg BT 357.04 192.25 Td (items ) Tj ET Q q 0 0 0 rg BT 386.55 192.25 Td (that ) Tj ET Q q 0 0 0 rg BT 408.14 192.25 Td (we ) Tj ET Q q 0 0 0 rg BT 425.43 192.25 Td (do ) Tj ET Q q 0 0 0 rg BT 440.90 192.25 Td (not ) Tj ET Q q 0 0 0 rg BT 459.43 192.25 Td (consider ) Tj ET Q q 0 0 0 rg BT 504.24 192.25 Td (indicative ) Tj ET Q q 0 0 0 rg BT 553.34 192.25 Td (of ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 179.05 Td (our ) Tj ET Q q 0 0 0 rg BT 68.33 179.05 Td (core ) Tj ET Q q 0 0 0 rg BT 92.66 179.05 Td (operating ) Tj ET Q q 0 0 0 rg BT 141.46 179.05 Td (performance. ) Tj ET Q q 0 0 0 rg BT 209.20 179.05 Td (In ) Tj ET Q q 0 0 0 rg BT 221.30 179.05 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 274.38 179.05 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 313.50 179.05 Td ( ) Tj ET Q q 0 0 0 rg BT 316.44 179.05 Td (and ) Tj ET Q q 0 0 0 rg BT 337.14 179.05 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 382.88 179.05 Td (EBITDA, ) Tj ET Q q 0 0 0 rg BT 428.59 179.05 Td (you ) Tj ET Q q 0 0 0 rg BT 449.26 179.05 Td (should ) Tj ET Q q 0 0 0 rg BT 484.60 179.05 Td (be ) Tj ET Q q 0 0 0 rg BT 499.77 179.05 Td (aware ) Tj ET Q q 0 0 0 rg BT 532.66 179.05 Td (that ) Tj ET Q q 0 0 0 rg BT 553.94 179.05 Td (in ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 165.85 Td (the ) Tj ET Q q 0 0 0 rg BT 69.46 165.85 Td (future ) Tj ET Q q 0 0 0 rg BT 102.25 165.85 Td (we ) Tj ET Q q 0 0 0 rg BT 120.98 165.85 Td (may ) Tj ET Q q 0 0 0 rg BT 146.43 165.85 Td (incur ) Tj ET Q q 0 0 0 rg BT 174.94 165.85 Td (expenses ) Tj ET Q q 0 0 0 rg BT 226.69 165.85 Td (that ) Tj ET Q q 0 0 0 rg BT 249.71 165.85 Td (are ) Tj ET Q q 0 0 0 rg BT 270.27 165.85 Td (the ) Tj ET Q q 0 0 0 rg BT 290.23 165.85 Td (same ) Tj ET Q q 0 0 0 rg BT 321.80 165.85 Td (as ) Tj ET Q q 0 0 0 rg BT 338.08 165.85 Td (or ) Tj ET Q q 0 0 0 rg BT 352.53 165.85 Td (similar ) Tj ET Q q 0 0 0 rg BT 388.97 165.85 Td (to ) Tj ET Q q 0 0 0 rg BT 402.81 165.85 Td (some ) Tj ET Q q 0 0 0 rg BT 434.38 165.85 Td (of ) Tj ET Q q 0 0 0 rg BT 448.22 165.85 Td (the ) Tj ET Q q 0 0 0 rg BT 468.18 165.85 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 532.15 165.85 Td (in ) Tj ET Q q 0 0 0 rg BT 545.38 165.85 Td (this ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 152.65 Td (presentation. ) Tj ET Q q 0 0 0 rg BT 116.33 152.65 Td (Our ) Tj ET Q q 0 0 0 rg BT 137.90 152.65 Td (presentation ) Tj ET Q q 0 0 0 rg BT 201.67 152.65 Td (of ) Tj ET Q q 0 0 0 rg BT 214.08 152.65 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 253.20 152.65 Td ( ) Tj ET Q q 0 0 0 rg BT 256.43 152.65 Td (and ) Tj ET Q q 0 0 0 rg BT 277.37 152.65 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 323.41 152.65 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 362.53 152.65 Td ( ) Tj ET Q q 0 0 0 rg BT 365.77 152.65 Td (should ) Tj ET Q q 0 0 0 rg BT 401.41 152.65 Td (not ) Tj ET Q q 0 0 0 rg BT 419.93 152.65 Td (be ) Tj ET Q q 0 0 0 rg BT 435.40 152.65 Td (construed ) Tj ET Q q 0 0 0 rg BT 486.94 152.65 Td (as ) Tj ET Q q 0 0 0 rg BT 501.79 152.65 Td (an ) Tj ET Q q 0 0 0 rg BT 517.25 152.65 Td (inference ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 139.45 Td (that ) Tj ET Q q 0 0 0 rg BT 70.90 139.45 Td (our ) Tj ET Q q 0 0 0 rg BT 89.86 139.45 Td (future ) Tj ET Q q 0 0 0 rg BT 121.04 139.45 Td (results ) Tj ET Q q 0 0 0 rg BT 156.50 139.45 Td (will ) Tj ET Q q 0 0 0 rg BT 174.83 139.45 Td (be ) Tj ET Q q 0 0 0 rg BT 190.12 139.45 Td (unaf) Tj ET Q q 0 0 0 rg BT 211.33 139.45 Td (fected ) Tj ET Q q 0 0 0 rg BT 244.35 139.45 Td (by ) Tj ET Q q 0 0 0 rg BT 259.03 139.45 Td (unusual ) Tj ET Q q 0 0 0 rg BT 300.61 139.45 Td (or ) Tj ET Q q 0 0 0 rg BT 313.45 139.45 Td (non-recurring ) Tj ET Q q 0 0 0 rg BT 381.93 139.45 Td (items.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 67.50 120.25 Td (W) Tj ET Q q 0 0 0 rg BT 77.68 120.25 Td (e ) Tj ET Q q 0 0 0 rg BT 87.56 120.25 Td (present ) Tj ET Q q 0 0 0 rg BT 128.01 120.25 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 167.14 120.25 Td ( ) Tj ET Q q 0 0 0 rg BT 170.90 120.25 Td (and ) Tj ET Q q 0 0 0 rg BT 192.26 120.25 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 238.83 120.25 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 277.95 120.25 Td ( ) Tj ET Q q 0 0 0 rg BT 281.72 120.25 Td (because ) Tj ET Q q 0 0 0 rg BT 327.06 120.25 Td (we ) Tj ET Q q 0 0 0 rg BT 344.89 120.25 Td (believe ) Tj ET Q q 0 0 0 rg BT 383.51 120.25 Td (they ) Tj ET Q q 0 0 0 rg BT 408.06 120.25 Td (assist ) Tj ET Q q 0 0 0 rg BT 439.94 120.25 Td (investors ) Tj ET Q q 0 0 0 rg BT 487.71 120.25 Td (and ) Tj ET Q q 0 0 0 rg BT 509.83 120.25 Td (analysts ) Tj ET Q q 0 0 0 rg BT 553.94 120.25 Td (in ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 107.05 Td (comparing ) Tj ET Q q 0 0 0 rg BT 104.16 107.05 Td (our ) Tj ET Q q 0 0 0 rg BT 123.36 107.05 Td (performance ) Tj ET Q q 0 0 0 rg BT 188.42 107.05 Td (across ) Tj ET Q q 0 0 0 rg BT 224.12 107.05 Td (reporting ) Tj ET Q q 0 0 0 rg BT 270.83 107.05 Td (periods ) Tj ET Q q 0 0 0 rg BT 310.21 107.05 Td (on ) Tj ET Q q 0 0 0 rg BT 325.75 107.05 Td (a ) Tj ET Q q 0 0 0 rg BT 335.17 107.05 Td (consistent ) Tj ET Q q 0 0 0 rg BT 388.00 107.05 Td (basis ) Tj ET Q q 0 0 0 rg BT 416.98 107.05 Td (by ) Tj ET Q q 0 0 0 rg BT 431.90 107.05 Td (excluding ) Tj ET Q q 0 0 0 rg BT 481.68 107.05 Td (items ) Tj ET Q q 0 0 0 rg BT 511.26 107.05 Td (that ) Tj ET Q q 0 0 0 rg BT 532.91 107.05 Td (we ) Tj ET Q q 0 0 0 rg BT 550.28 107.05 Td (do ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 93.85 Td (not ) Tj ET Q q 0 0 0 rg BT 67.10 93.85 Td (believe ) Tj ET Q q 0 0 0 rg BT 104.26 93.85 Td (are ) Tj ET Q q 0 0 0 rg BT 122.46 93.85 Td (indicative ) Tj ET Q q 0 0 0 rg BT 170.62 93.85 Td (of ) Tj ET Q q 0 0 0 rg BT 182.10 93.85 Td (our ) Tj ET Q q 0 0 0 rg BT 200.30 93.85 Td (core ) Tj ET Q q 0 0 0 rg BT 224.01 93.85 Td (operating ) Tj ET Q q 0 0 0 rg BT 272.18 93.85 Td (performance. ) Tj ET Q q 0 0 0 rg BT 339.29 93.85 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 378.42 93.85 Td ( ) Tj ET Q q 0 0 0 rg BT 380.72 93.85 Td (and ) Tj ET Q q 0 0 0 rg BT 400.92 93.85 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 446.03 93.85 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 485.15 93.85 Td ( ) Tj ET Q q 0 0 0 rg BT 487.46 93.85 Td (have ) Tj ET Q q 0 0 0 rg BT 513.62 93.85 Td (limitations ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 80.65 Td (as ) Tj ET Q q 0 0 0 rg BT 64.17 80.65 Td (an ) Tj ET Q q 0 0 0 rg BT 79.47 80.65 Td (analytical ) Tj ET Q q 0 0 0 rg BT 128.38 80.65 Td (tool. ) Tj ET Q q 0 0 0 rg BT 152.23 80.65 Td (Some ) Tj ET Q q 0 0 0 rg BT 184.02 80.65 Td (of ) Tj ET Q q 0 0 0 rg BT 196.25 80.65 Td (these ) Tj ET Q q 0 0 0 rg BT 226.21 80.65 Td (limitations ) Tj ET Q q 0 0 0 rg BT 278.17 80.65 Td (are:) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 67.50 61.45 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 61.45 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 124.62 61.45 Td ( ) Tj ET Q q 0 0 0 rg BT 126.45 61.45 Td (and ) Tj ET Q q 0 0 0 rg BT 146.26 61.45 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 190.89 61.45 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 230.01 61.45 Td ( ) Tj ET Q q 0 0 0 rg BT 231.83 61.45 Td (do ) Tj ET Q q 0 0 0 rg BT 245.89 61.45 Td (not ) Tj ET Q q 0 0 0 rg BT 263.00 61.45 Td (reflect ) Tj ET Q q 0 0 0 rg BT 294.78 61.45 Td (our ) Tj ET Q q 0 0 0 rg BT 312.50 61.45 Td (cash ) Tj ET Q q 0 0 0 rg BT 337.56 61.45 Td (expenditures, ) Tj ET Q q 0 0 0 rg BT 405.43 61.45 Td (or ) Tj ET Q q 0 0 0 rg BT 417.03 61.45 Td (future ) Tj ET Q q 0 0 0 rg BT 446.98 61.45 Td (requirements, ) Tj ET Q q 0 0 0 rg BT 516.05 61.45 Td (for ) Tj ET Q q 0 0 0 rg BT 530.71 61.45 Td (capital ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 48.25 Td (expenditures, ) Tj ET Q q 0 0 0 rg BT 154.60 48.25 Td (contractual ) Tj ET Q q 0 0 0 rg BT 211.46 48.25 Td (commitments ) Tj ET Q q 0 0 0 rg BT 279.92 48.25 Td (or ) Tj ET Q q 0 0 0 rg BT 292.75 48.25 Td (working ) Tj ET Q q 0 0 0 rg BT 333.71 48.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 368.57 48.25 Td (needs;) Tj ET Q /GS0 gs q 57.00 0 0 47.00 50.00 732.50 cm /I18 Do Q endstream endobj 39 0 obj <> endobj 40 0 obj <> stream BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.40 33.25 Td (17) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 67.50 712.00 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 712.00 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 124.62 712.00 Td ( ) Tj ET Q q 0 0 0 rg BT 126.27 712.00 Td (and ) Tj ET Q q 0 0 0 rg BT 145.94 712.00 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 190.39 712.00 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 229.51 712.00 Td ( ) Tj ET Q q 0 0 0 rg BT 231.16 712.00 Td (do ) Tj ET Q q 0 0 0 rg BT 245.04 712.00 Td (not ) Tj ET Q q 0 0 0 rg BT 261.97 712.00 Td (reflect ) Tj ET Q q 0 0 0 rg BT 293.57 712.00 Td (the ) Tj ET Q q 0 0 0 rg BT 310.51 712.00 Td (significant ) Tj ET Q q 0 0 0 rg BT 361.07 712.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 398.79 712.00 Td (expense, ) Tj ET Q q 0 0 0 rg BT 445.07 712.00 Td (or ) Tj ET Q q 0 0 0 rg BT 456.50 712.00 Td (the ) Tj ET Q q 0 0 0 rg BT 473.44 712.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 498.32 712.00 Td (requirements ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 698.80 Td (necessary ) Tj ET Q q 0 0 0 rg BT 138.69 698.80 Td (to ) Tj ET Q q 0 0 0 rg BT 150.92 698.80 Td (service ) Tj ET Q q 0 0 0 rg BT 188.82 698.80 Td (interest ) Tj ET Q q 0 0 0 rg BT 227.95 698.80 Td (or ) Tj ET Q q 0 0 0 rg BT 240.78 698.80 Td (principal ) Tj ET Q q 0 0 0 rg BT 284.81 698.80 Td (payments, ) Tj ET Q q 0 0 0 rg BT 338.61 698.80 Td (on ) Tj ET Q q 0 0 0 rg BT 353.90 698.80 Td (our ) Tj ET Q q 0 0 0 rg BT 372.85 698.80 Td (debts;) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 67.50 679.60 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 679.60 Td (although ) Tj ET Q q 0 0 0 rg BT 131.65 679.60 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 195.53 679.60 Td (and ) Tj ET Q q 0 0 0 rg BT 217.83 679.60 Td (amortization ) Tj ET Q q 0 0 0 rg BT 281.69 679.60 Td (are ) Tj ET Q q 0 0 0 rg BT 301.54 679.60 Td (non-cash ) Tj ET Q q 0 0 0 rg BT 350.74 679.60 Td (charges, ) Tj ET Q q 0 0 0 rg BT 396.88 679.60 Td (the ) Tj ET Q q 0 0 0 rg BT 416.11 679.60 Td (assets ) Tj ET Q q 0 0 0 rg BT 451.85 679.60 Td (being ) Tj ET Q q 0 0 0 rg BT 482.71 679.60 Td (depreciated ) Tj ET Q q 0 0 0 rg BT 544.15 679.60 Td (and ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 666.40 Td (amortized ) Tj ET Q q 0 0 0 rg BT 137.67 666.40 Td (will ) Tj ET Q q 0 0 0 rg BT 156.82 666.40 Td (often ) Tj ET Q q 0 0 0 rg BT 185.16 666.40 Td (have ) Tj ET Q q 0 0 0 rg BT 212.88 666.40 Td (to ) Tj ET Q q 0 0 0 rg BT 225.93 666.40 Td (be ) Tj ET Q q 0 0 0 rg BT 242.04 666.40 Td (replaced ) Tj ET Q q 0 0 0 rg BT 288.10 666.40 Td (in ) Tj ET Q q 0 0 0 rg BT 300.54 666.40 Td (the ) Tj ET Q q 0 0 0 rg BT 319.70 666.40 Td (future, ) Tj ET Q q 0 0 0 rg BT 354.76 666.40 Td (and ) Tj ET Q q 0 0 0 rg BT 376.98 666.40 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 416.11 666.40 Td ( ) Tj ET Q q 0 0 0 rg BT 419.98 666.40 Td (and ) Tj ET Q q 0 0 0 rg BT 441.44 666.40 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 488.12 666.40 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 527.24 666.40 Td ( ) Tj ET Q q 0 0 0 rg BT 531.11 666.40 Td (do ) Tj ET Q q 0 0 0 rg BT 547.22 666.40 Td (not ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 653.20 Td (reflect ) Tj ET Q q 0 0 0 rg BT 118.51 653.20 Td (any ) Tj ET Q q 0 0 0 rg BT 139.30 653.20 Td (cash ) Tj ET Q q 0 0 0 rg BT 165.59 653.20 Td (requirements ) Tj ET Q q 0 0 0 rg BT 232.85 653.20 Td (for ) Tj ET Q q 0 0 0 rg BT 248.74 653.20 Td (such ) Tj ET Q q 0 0 0 rg BT 275.03 653.20 Td (replacements;) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 67.50 634.00 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 634.00 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 132.39 634.00 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 171.51 634.00 Td ( ) Tj ET Q q 0 0 0 rg BT 175.60 634.00 Td (excludes ) Tj ET Q q 0 0 0 rg BT 223.09 634.00 Td (equity-based ) Tj ET Q q 0 0 0 rg BT 290.16 634.00 Td (compensation ) Tj ET Q q 0 0 0 rg BT 362.73 634.00 Td (expense, ) Tj ET Q q 0 0 0 rg BT 411.46 634.00 Td (which ) Tj ET Q q 0 0 0 rg BT 443.67 634.00 Td (is ) Tj ET Q q 0 0 0 rg BT 455.69 634.00 Td (and ) Tj ET Q q 0 0 0 rg BT 478.13 634.00 Td (will ) Tj ET Q q 0 0 0 rg BT 497.49 634.00 Td (remain ) Tj ET Q q 0 0 0 rg BT 535.19 634.00 Td (a ) Tj ET Q q 0 0 0 rg BT 545.40 634.00 Td (key ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 620.80 Td (element ) Tj ET Q q 0 0 0 rg BT 128.78 620.80 Td (of ) Tj ET Q q 0 0 0 rg BT 142.09 620.80 Td (our ) Tj ET Q q 0 0 0 rg BT 162.13 620.80 Td (overall ) Tj ET Q q 0 0 0 rg BT 198.68 620.80 Td (long-term ) Tj ET Q q 0 0 0 rg BT 249.28 620.80 Td (incentive ) Tj ET Q q 0 0 0 rg BT 296.84 620.80 Td (compensation ) Tj ET Q q 0 0 0 rg BT 369.47 620.80 Td (package, ) Tj ET Q q 0 0 0 rg BT 418.26 620.80 Td (although ) Tj ET Q q 0 0 0 rg BT 464.60 620.80 Td (we ) Tj ET Q q 0 0 0 rg BT 482.81 620.80 Td (exclude ) Tj ET Q q 0 0 0 rg BT 524.87 620.80 Td (it ) Tj ET Q q 0 0 0 rg BT 534.51 620.80 Td (as ) Tj ET Q q 0 0 0 rg BT 550.27 620.80 Td (an ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 607.60 Td (expense ) Tj ET Q q 0 0 0 rg BT 130.14 607.60 Td (when ) Tj ET Q q 0 0 0 rg BT 159.50 607.60 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 212.70 607.60 Td (our ) Tj ET Q q 0 0 0 rg BT 231.66 607.60 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 273.86 607.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 322.79 607.60 Td (performance ) Tj ET Q q 0 0 0 rg BT 387.60 607.60 Td (for ) Tj ET Q q 0 0 0 rg BT 403.49 607.60 Td (a ) Tj ET Q q 0 0 0 rg BT 412.66 607.60 Td (particular ) Tj ET Q q 0 0 0 rg BT 460.96 607.60 Td (period;) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 67.50 588.40 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 588.40 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 124.62 588.40 Td ( ) Tj ET Q q 0 0 0 rg BT 126.49 588.40 Td (and ) Tj ET Q q 0 0 0 rg BT 146.34 588.40 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 191.01 588.40 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 230.13 588.40 Td ( ) Tj ET Q q 0 0 0 rg BT 232.00 588.40 Td (do ) Tj ET Q q 0 0 0 rg BT 246.10 588.40 Td (not ) Tj ET Q q 0 0 0 rg BT 263.25 588.40 Td (reflect ) Tj ET Q q 0 0 0 rg BT 295.07 588.40 Td (the ) Tj ET Q q 0 0 0 rg BT 312.23 588.40 Td (impact ) Tj ET Q q 0 0 0 rg BT 346.50 588.40 Td (of ) Tj ET Q q 0 0 0 rg BT 357.53 588.40 Td (certain ) Tj ET Q q 0 0 0 rg BT 392.42 588.40 Td (cash ) Tj ET Q q 0 0 0 rg BT 417.52 588.40 Td (charges ) Tj ET Q q 0 0 0 rg BT 458.52 588.40 Td (resulting ) Tj ET Q q 0 0 0 rg BT 501.96 588.40 Td (from ) Tj ET Q q 0 0 0 rg BT 525.82 588.40 Td (matters ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 575.20 Td (we ) Tj ET Q q 0 0 0 rg BT 102.62 575.20 Td (consider ) Tj ET Q q 0 0 0 rg BT 147.25 575.20 Td (not ) Tj ET Q q 0 0 0 rg BT 165.60 575.20 Td (to ) Tj ET Q q 0 0 0 rg BT 177.83 575.20 Td (be ) Tj ET Q q 0 0 0 rg BT 193.12 575.20 Td (indicative ) Tj ET Q q 0 0 0 rg BT 242.04 575.20 Td (of ) Tj ET Q q 0 0 0 rg BT 254.27 575.20 Td (our ) Tj ET Q q 0 0 0 rg BT 273.22 575.20 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 315.43 575.20 Td (operations; ) Tj ET Q q 0 0 0 rg BT 372.91 575.20 Td (and) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 67.50 556.00 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 556.00 Td (other ) Tj ET Q q 0 0 0 rg BT 113.03 556.00 Td (companies ) Tj ET Q q 0 0 0 rg BT 168.68 556.00 Td (in ) Tj ET Q q 0 0 0 rg BT 179.70 556.00 Td (our ) Tj ET Q q 0 0 0 rg BT 198.05 556.00 Td (industry ) Tj ET Q q 0 0 0 rg BT 239.02 556.00 Td (may ) Tj ET Q q 0 0 0 rg BT 262.26 556.00 Td (calculate ) Tj ET Q q 0 0 0 rg BT 308.13 556.00 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 347.25 556.00 Td ( ) Tj ET Q q 0 0 0 rg BT 349.71 556.00 Td (and ) Tj ET Q q 0 0 0 rg BT 370.03 556.00 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 415.30 556.00 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 454.42 556.00 Td ( ) Tj ET Q q 0 0 0 rg BT 456.87 556.00 Td (dif) Tj ET Q q 0 0 0 rg BT 468.29 556.00 Td (ferently ) Tj ET Q q 0 0 0 rg BT 506.82 556.00 Td (than ) Tj ET Q q 0 0 0 rg BT 530.69 556.00 Td (we ) Tj ET Q q 0 0 0 rg BT 547.20 556.00 Td (do, ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 542.80 Td (limiting ) Tj ET Q q 0 0 0 rg BT 122.79 542.80 Td (its ) Tj ET Q q 0 0 0 rg BT 136.84 542.80 Td (usefulness ) Tj ET Q q 0 0 0 rg BT 192.49 542.80 Td (as ) Tj ET Q q 0 0 0 rg BT 207.16 542.80 Td (a ) Tj ET Q q 0 0 0 rg BT 216.33 542.80 Td (comparative ) Tj ET Q q 0 0 0 rg BT 279.31 542.80 Td (measure.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 67.50 523.60 Td (W) Tj ET Q q 0 0 0 rg BT 77.68 523.60 Td (e ) Tj ET Q q 0 0 0 rg BT 86.43 523.60 Td (compensate ) Tj ET Q q 0 0 0 rg BT 148.99 523.60 Td (for ) Tj ET Q q 0 0 0 rg BT 164.45 523.60 Td (these ) Tj ET Q q 0 0 0 rg BT 193.99 523.60 Td (limitations ) Tj ET Q q 0 0 0 rg BT 245.52 523.60 Td (by ) Tj ET Q q 0 0 0 rg BT 259.77 523.60 Td (considering ) Tj ET Q q 0 0 0 rg BT 318.66 523.60 Td (the ) Tj ET Q q 0 0 0 rg BT 336.58 523.60 Td (economic ) Tj ET Q q 0 0 0 rg BT 386.28 523.60 Td (ef) Tj ET Q q 0 0 0 rg BT 395.26 523.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 415.62 523.60 Td (of ) Tj ET Q q 0 0 0 rg BT 427.42 523.60 Td (the ) Tj ET Q q 0 0 0 rg BT 445.34 523.60 Td (excluded ) Tj ET Q q 0 0 0 rg BT 492.00 523.60 Td (expense ) Tj ET Q q 0 0 0 rg BT 536.22 523.60 Td (items ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 510.40 Td (independently ) Tj ET Q q 0 0 0 rg BT 120.29 510.40 Td (as ) Tj ET Q q 0 0 0 rg BT 134.19 510.40 Td (well ) Tj ET Q q 0 0 0 rg BT 155.42 510.40 Td (as ) Tj ET Q q 0 0 0 rg BT 169.32 510.40 Td (in ) Tj ET Q q 0 0 0 rg BT 180.17 510.40 Td (connection ) Tj ET Q q 0 0 0 rg BT 235.65 510.40 Td (with ) Tj ET Q q 0 0 0 rg BT 257.50 510.40 Td (our ) Tj ET Q q 0 0 0 rg BT 275.68 510.40 Td (analysis ) Tj ET Q q 0 0 0 rg BT 317.70 510.40 Td (of ) Tj ET Q q 0 0 0 rg BT 329.16 510.40 Td (net ) Tj ET Q q 0 0 0 rg BT 346.74 510.40 Td (income ) Tj ET Q q 0 0 0 rg BT 384.48 510.40 Td (\(loss\). ) Tj ET Q q 0 0 0 rg BT 416.71 510.40 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 455.83 510.40 Td ( ) Tj ET Q q 0 0 0 rg BT 458.11 510.40 Td (and ) Tj ET Q q 0 0 0 rg BT 478.30 510.40 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 523.39 510.40 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 562.51 510.40 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 497.20 Td (should ) Tj ET Q q 0 0 0 rg BT 85.66 497.20 Td (be ) Tj ET Q q 0 0 0 rg BT 101.64 497.20 Td (considered ) Tj ET Q q 0 0 0 rg BT 159.19 497.20 Td (in ) Tj ET Q q 0 0 0 rg BT 171.50 497.20 Td (addition ) Tj ET Q q 0 0 0 rg BT 213.77 497.20 Td (to, ) Tj ET Q q 0 0 0 rg BT 229.74 497.20 Td (but ) Tj ET Q q 0 0 0 rg BT 248.78 497.20 Td (not ) Tj ET Q q 0 0 0 rg BT 267.81 497.20 Td (as ) Tj ET Q q 0 0 0 rg BT 283.17 497.20 Td (a ) Tj ET Q q 0 0 0 rg BT 293.03 497.20 Td (substitute ) Tj ET Q q 0 0 0 rg BT 343.86 497.20 Td (for) Tj ET Q q 0 0 0 rg BT 356.09 497.20 Td (, ) Tj ET Q q 0 0 0 rg BT 362.89 497.20 Td (other ) Tj ET Q q 0 0 0 rg BT 391.70 497.20 Td (measures ) Tj ET Q q 0 0 0 rg BT 443.74 497.20 Td (of ) Tj ET Q q 0 0 0 rg BT 456.66 497.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 500.76 497.20 Td (performance ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 484.00 Td (reported ) Tj ET Q q 0 0 0 rg BT 93.13 484.00 Td (in ) Tj ET Q q 0 0 0 rg BT 104.36 484.00 Td (accordance ) Tj ET Q q 0 0 0 rg BT 163.89 484.00 Td (with ) Tj ET Q q 0 0 0 rg BT 186.12 484.00 Td (GAAP) Tj ET Q q 0 0 0 rg BT 215.27 484.00 Td (, ) Tj ET Q q 0 0 0 rg BT 220.99 484.00 Td (such ) Tj ET Q q 0 0 0 rg BT 246.88 484.00 Td (as ) Tj ET Q q 0 0 0 rg BT 261.17 484.00 Td (total ) Tj ET Q q 0 0 0 rg BT 284.62 484.00 Td (revenues, ) Tj ET Q q 0 0 0 rg BT 335.59 484.00 Td (income ) Tj ET Q q 0 0 0 rg BT 373.72 484.00 Td (from ) Tj ET Q q 0 0 0 rg BT 398.38 484.00 Td (operations, ) Tj ET Q q 0 0 0 rg BT 455.47 484.00 Td (and ) Tj ET Q q 0 0 0 rg BT 476.48 484.00 Td (net ) Tj ET Q q 0 0 0 rg BT 494.44 484.00 Td (income ) Tj ET Q q 0 0 0 rg BT 532.56 484.00 Td (\(loss\).) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 464.80 Td (FUNDS ) Tj ET Q q 0 0 0 rg BT 90.21 464.80 Td (FROM ) Tj ET Q q 0 0 0 rg BT 125.41 464.80 Td (OPERA) Tj ET Q q 0 0 0 rg BT 163.71 464.80 Td (TIONS: ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 203.80 464.80 Td (Funds ) Tj ET Q q 0 0 0 rg BT 237.19 464.80 Td (from ) Tj ET Q q 0 0 0 rg BT 262.01 464.80 Td (operations, ) Tj ET Q q 0 0 0 rg BT 319.26 464.80 Td (or ) Tj ET Q q 0 0 0 rg BT 331.86 464.80 Td (FFO, ) Tj ET Q q 0 0 0 rg BT 359.73 464.80 Td (is ) Tj ET Q q 0 0 0 rg BT 370.49 464.80 Td (a ) Tj ET Q q 0 0 0 rg BT 379.43 464.80 Td (widely ) Tj ET Q q 0 0 0 rg BT 412.81 464.80 Td (used ) Tj ET Q q 0 0 0 rg BT 439.48 464.80 Td (performance ) Tj ET Q q 0 0 0 rg BT 504.05 464.80 Td (measure ) Tj ET Q q 0 0 0 rg BT 549.67 464.80 Td (for ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 451.60 Td (real ) Tj ET Q q 0 0 0 rg BT 70.54 451.60 Td (estate ) Tj ET Q q 0 0 0 rg BT 103.21 451.60 Td (companies ) Tj ET Q q 0 0 0 rg BT 159.11 451.60 Td (and ) Tj ET Q q 0 0 0 rg BT 180.16 451.60 Td (is ) Tj ET Q q 0 0 0 rg BT 190.81 451.60 Td (provided ) Tj ET Q q 0 0 0 rg BT 235.70 451.60 Td (here ) Tj ET Q q 0 0 0 rg BT 260.42 451.60 Td (as ) Tj ET Q q 0 0 0 rg BT 274.74 451.60 Td (a ) Tj ET Q q 0 0 0 rg BT 283.56 451.60 Td (supplemental ) Tj ET Q q 0 0 0 rg BT 351.69 451.60 Td (measure ) Tj ET Q q 0 0 0 rg BT 397.19 451.60 Td (of ) Tj ET Q q 0 0 0 rg BT 409.06 451.60 Td (our ) Tj ET Q q 0 0 0 rg BT 427.66 451.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 476.23 451.60 Td (performance. ) Tj ET Q q 0 0 0 rg BT 543.56 451.60 Td (The ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 438.40 Td (April ) Tj ET Q q 0 0 0 rg BT 74.60 438.40 Td (2002 ) Tj ET Q q 0 0 0 rg BT 102.16 438.40 Td (National ) Tj ET Q q 0 0 0 rg BT 145.61 438.40 Td (Policy ) Tj ET Q q 0 0 0 rg BT 178.05 438.40 Td (Bulletin ) Tj ET Q q 0 0 0 rg BT 217.22 438.40 Td (of ) Tj ET Q q 0 0 0 rg BT 229.49 438.40 Td (NAREIT) Tj ET Q q 0 0 0 rg BT 268.61 438.40 Td (, ) Tj ET Q q 0 0 0 rg BT 274.75 438.40 Td (which ) Tj ET Q q 0 0 0 rg BT 305.97 438.40 Td (we ) Tj ET Q q 0 0 0 rg BT 323.13 438.40 Td (refer ) Tj ET Q q 0 0 0 rg BT 348.84 438.40 Td (to ) Tj ET Q q 0 0 0 rg BT 361.10 438.40 Td (as ) Tj ET Q q 0 0 0 rg BT 375.81 438.40 Td (the ) Tj ET Q q 0 0 0 rg BT 394.20 438.40 Td (White ) Tj ET Q q 0 0 0 rg BT 425.41 438.40 Td (Paper) Tj ET Q q 0 0 0 rg BT 454.16 438.40 Td (, ) Tj ET Q q 0 0 0 rg BT 460.31 438.40 Td (as ) Tj ET Q q 0 0 0 rg BT 475.02 438.40 Td (amended, ) Tj ET Q q 0 0 0 rg BT 527.04 438.40 Td (defines ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 425.20 Td (FFO ) Tj ET Q q 0 0 0 rg BT 74.34 425.20 Td (as ) Tj ET Q q 0 0 0 rg BT 88.80 425.20 Td (net ) Tj ET Q q 0 0 0 rg BT 106.93 425.20 Td (income ) Tj ET Q q 0 0 0 rg BT 145.23 425.20 Td (\(as ) Tj ET Q q 0 0 0 rg BT 163.36 425.20 Td (determined ) Tj ET Q q 0 0 0 rg BT 221.23 425.20 Td (under ) Tj ET Q q 0 0 0 rg BT 252.21 425.20 Td (GAAP\), ) Tj ET Q q 0 0 0 rg BT 292.34 425.20 Td (excluding ) Tj ET Q q 0 0 0 rg BT 341.66 425.20 Td (gains ) Tj ET Q q 0 0 0 rg BT 370.80 425.20 Td (\(or ) Tj ET Q q 0 0 0 rg BT 387.08 425.20 Td (losses\) ) Tj ET Q q 0 0 0 rg BT 424.77 425.20 Td (from ) Tj ET Q q 0 0 0 rg BT 449.61 425.20 Td (sales ) Tj ET Q q 0 0 0 rg BT 478.13 425.20 Td (of ) Tj ET Q q 0 0 0 rg BT 490.15 425.20 Td (real ) Tj ET Q q 0 0 0 rg BT 511.34 425.20 Td (estate ) Tj ET Q q 0 0 0 rg BT 544.14 425.20 Td (and ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 412.00 Td (related ) Tj ET Q q 0 0 0 rg BT 88.18 412.00 Td (impairment ) Tj ET Q q 0 0 0 rg BT 147.62 412.00 Td (charges, ) Tj ET Q q 0 0 0 rg BT 194.86 412.00 Td (plus ) Tj ET Q q 0 0 0 rg BT 220.08 412.00 Td (real ) Tj ET Q q 0 0 0 rg BT 243.47 412.00 Td (estate ) Tj ET Q q 0 0 0 rg BT 278.48 412.00 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 343.45 412.00 Td (and ) Tj ET Q q 0 0 0 rg BT 366.85 412.00 Td (amortization, ) Tj ET Q q 0 0 0 rg BT 434.86 412.00 Td (and ) Tj ET Q q 0 0 0 rg BT 458.26 412.00 Td (after ) Tj ET Q q 0 0 0 rg BT 485.31 412.00 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 549.66 412.00 Td (for ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 398.80 Td (unconsolidated ) Tj ET Q q 0 0 0 rg BT 126.19 398.80 Td (partnerships ) Tj ET Q q 0 0 0 rg BT 189.41 398.80 Td (and ) Tj ET Q q 0 0 0 rg BT 210.45 398.80 Td (joint ) Tj ET Q q 0 0 0 rg BT 233.32 398.80 Td (ventures. ) Tj ET Q q 0 0 0 rg BT 281.25 398.80 Td (Distributions ) Tj ET Q q 0 0 0 rg BT 344.46 398.80 Td (on ) Tj ET Q q 0 0 0 rg BT 359.38 398.80 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 425.67 398.80 Td (performance ) Tj ET Q q 0 0 0 rg BT 490.11 398.80 Td (units ) Tj ET Q q 0 0 0 rg BT 516.04 398.80 Td (represent ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 385.60 Td (our ) Tj ET Q q 0 0 0 rg BT 70.05 385.60 Td (allocation ) Tj ET Q q 0 0 0 rg BT 121.18 385.60 Td (of ) Tj ET Q q 0 0 0 rg BT 135.01 385.60 Td (FFO ) Tj ET Q q 0 0 0 rg BT 161.66 385.60 Td (to ) Tj ET Q q 0 0 0 rg BT 175.49 385.60 Td (noncontrolling ) Tj ET Q q 0 0 0 rg BT 248.63 385.60 Td (interests ) Tj ET Q q 0 0 0 rg BT 294.86 385.60 Td (held ) Tj ET Q q 0 0 0 rg BT 320.31 385.60 Td (by ) Tj ET Q q 0 0 0 rg BT 336.58 385.60 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 404.84 385.60 Td (performance ) Tj ET Q q 0 0 0 rg BT 471.25 385.60 Td (unitholders ) Tj ET Q q 0 0 0 rg BT 529.72 385.60 Td (for ) Tj ET Q q 0 0 0 rg BT 547.21 385.60 Td (the ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 372.40 Td (purpose ) Tj ET Q q 0 0 0 rg BT 93.75 372.40 Td (of ) Tj ET Q q 0 0 0 rg BT 107.42 372.40 Td (calculating ) Tj ET Q q 0 0 0 rg BT 163.89 372.40 Td (FFO ) Tj ET Q q 0 0 0 rg BT 190.39 372.40 Td (attributable ) Tj ET Q q 0 0 0 rg BT 249.31 372.40 Td (to ) Tj ET Q q 0 0 0 rg BT 262.98 372.40 Td (common ) Tj ET Q q 0 0 0 rg BT 309.66 372.40 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 377.75 372.40 Td (and ) Tj ET Q q 0 0 0 rg BT 400.60 372.40 Td (OP) Tj ET Q q 0 0 0 rg BT 416.29 372.40 Td ( ) Tj ET Q q 0 0 0 rg BT 420.79 372.40 Td (unitholders. ) Tj ET Q q 0 0 0 rg BT 482.16 372.40 Td (W) Tj ET Q q 0 0 0 rg BT 492.34 372.40 Td (e ) Tj ET Q q 0 0 0 rg BT 502.96 372.40 Td (also ) Tj ET Q q 0 0 0 rg BT 527.63 372.40 Td (include ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 359.20 Td (amortization ) Tj ET Q q 0 0 0 rg BT 113.00 359.20 Td (of ) Tj ET Q q 0 0 0 rg BT 125.76 359.20 Td (customer ) Tj ET Q q 0 0 0 rg BT 174.59 359.20 Td (in-place ) Tj ET Q q 0 0 0 rg BT 216.69 359.20 Td (leases ) Tj ET Q q 0 0 0 rg BT 252.08 359.20 Td (in ) Tj ET Q q 0 0 0 rg BT 264.23 359.20 Td (our ) Tj ET Q q 0 0 0 rg BT 283.71 359.20 Td (definition ) Tj ET Q q 0 0 0 rg BT 331.33 359.20 Td (of ) Tj ET Q q 0 0 0 rg BT 344.09 359.20 Td (FFO ) Tj ET Q q 0 0 0 rg BT 369.68 359.20 Td (because ) Tj ET Q q 0 0 0 rg BT 414.85 359.20 Td (we ) Tj ET Q q 0 0 0 rg BT 432.50 359.20 Td (believe ) Tj ET Q q 0 0 0 rg BT 470.95 359.20 Td (the ) Tj ET Q q 0 0 0 rg BT 489.83 359.20 Td (amortization ) Tj ET Q q 0 0 0 rg BT 553.33 359.20 Td (of ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 346.00 Td (customer ) Tj ET Q q 0 0 0 rg BT 99.54 346.00 Td (in-place ) Tj ET Q q 0 0 0 rg BT 142.87 346.00 Td (leases ) Tj ET Q q 0 0 0 rg BT 179.48 346.00 Td (is ) Tj ET Q q 0 0 0 rg BT 192.23 346.00 Td (analogous ) Tj ET Q q 0 0 0 rg BT 247.80 346.00 Td (to ) Tj ET Q q 0 0 0 rg BT 261.78 346.00 Td (real ) Tj ET Q q 0 0 0 rg BT 284.93 346.00 Td (estate ) Tj ET Q q 0 0 0 rg BT 319.71 346.00 Td (depreciation, ) Tj ET Q q 0 0 0 rg BT 387.50 346.00 Td (as ) Tj ET Q q 0 0 0 rg BT 403.93 346.00 Td (the ) Tj ET Q q 0 0 0 rg BT 424.03 346.00 Td (value ) Tj ET Q q 0 0 0 rg BT 455.13 346.00 Td (of ) Tj ET Q q 0 0 0 rg BT 469.11 346.00 Td (such ) Tj ET Q q 0 0 0 rg BT 497.16 346.00 Td (intangibles ) Tj ET Q q 0 0 0 rg BT 554.56 346.00 Td (is ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 332.80 Td (inextricably ) Tj ET Q q 0 0 0 rg BT 108.17 332.80 Td (connected ) Tj ET Q q 0 0 0 rg BT 162.57 332.80 Td (to ) Tj ET Q q 0 0 0 rg BT 175.39 332.80 Td (the ) Tj ET Q q 0 0 0 rg BT 194.33 332.80 Td (real ) Tj ET Q q 0 0 0 rg BT 216.31 332.80 Td (estate ) Tj ET Q q 0 0 0 rg BT 249.92 332.80 Td (acquired. ) Tj ET Q q 0 0 0 rg BT 298.82 332.80 Td (W) Tj ET Q q 0 0 0 rg BT 309.00 332.80 Td (e ) Tj ET Q q 0 0 0 rg BT 318.76 332.80 Td (define ) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 352.38 332.80 Td (CORE ) Tj ET Q q 0 0 0 rg BT 387.80 332.80 Td (FFO) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 409.80 332.80 Td ( ) Tj ET Q q 0 0 0 rg BT 413.44 332.80 Td (as ) Tj ET Q q 0 0 0 rg BT 428.70 332.80 Td (FFO, ) Tj ET Q q 0 0 0 rg BT 457.40 332.80 Td (as ) Tj ET Q q 0 0 0 rg BT 472.66 332.80 Td (further ) Tj ET Q q 0 0 0 rg BT 508.09 332.80 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 553.33 332.80 Td (to ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 319.60 Td (eliminate ) Tj ET Q q 0 0 0 rg BT 96.54 319.60 Td (the ) Tj ET Q q 0 0 0 rg BT 114.85 319.60 Td (impact ) Tj ET Q q 0 0 0 rg BT 150.27 319.60 Td (of ) Tj ET Q q 0 0 0 rg BT 162.46 319.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 198.50 319.60 Td (items ) Tj ET Q q 0 0 0 rg BT 227.80 319.60 Td (that ) Tj ET Q q 0 0 0 rg BT 249.16 319.60 Td (we ) Tj ET Q q 0 0 0 rg BT 266.24 319.60 Td (do ) Tj ET Q q 0 0 0 rg BT 281.50 319.60 Td (not ) Tj ET Q q 0 0 0 rg BT 299.81 319.60 Td (consider ) Tj ET Q q 0 0 0 rg BT 344.41 319.60 Td (indicative ) Tj ET Q q 0 0 0 rg BT 393.28 319.60 Td (of ) Tj ET Q q 0 0 0 rg BT 405.48 319.60 Td (our ) Tj ET Q q 0 0 0 rg BT 424.39 319.60 Td (core ) Tj ET Q q 0 0 0 rg BT 448.81 319.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 497.70 319.60 Td (performance. ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 306.40 Td (These ) Tj ET Q q 0 0 0 rg BT 84.32 306.40 Td (further ) Tj ET Q q 0 0 0 rg BT 120.36 306.40 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 183.91 306.40 Td (consist ) Tj ET Q q 0 0 0 rg BT 222.40 306.40 Td (of ) Tj ET Q q 0 0 0 rg BT 235.82 306.40 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 292.04 306.40 Td (costs, ) Tj ET Q q 0 0 0 rg BT 325.02 306.40 Td (organizational ) Tj ET Q q 0 0 0 rg BT 397.76 306.40 Td (and ) Tj ET Q q 0 0 0 rg BT 420.36 306.40 Td (of) Tj ET Q q 0 0 0 rg BT 429.33 306.40 Td (fering ) Tj ET Q q 0 0 0 rg BT 461.09 306.40 Td (costs, ) Tj ET Q q 0 0 0 rg BT 494.07 306.40 Td (gains ) Tj ET Q q 0 0 0 rg BT 524.61 306.40 Td (on ) Tj ET Q q 0 0 0 rg BT 541.10 306.40 Td (debt ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 293.20 Td (forgiveness ) Tj ET Q q 0 0 0 rg BT 108.81 293.20 Td (and ) Tj ET Q q 0 0 0 rg BT 130.22 293.20 Td (gains ) Tj ET Q q 0 0 0 rg BT 159.57 293.20 Td (\(losses\) ) Tj ET Q q 0 0 0 rg BT 201.13 293.20 Td (on ) Tj ET Q q 0 0 0 rg BT 216.42 293.20 Td (early ) Tj ET Q q 0 0 0 rg BT 243.32 293.20 Td (extinguishment ) Tj ET Q q 0 0 0 rg BT 320.36 293.20 Td (of ) Tj ET Q q 0 0 0 rg BT 332.59 293.20 Td (debt.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 67.50 274.00 Td (Management ) Tj ET Q q 0 0 0 rg BT 134.95 274.00 Td (uses ) Tj ET Q q 0 0 0 rg BT 161.43 274.00 Td (FFO ) Tj ET Q q 0 0 0 rg BT 186.66 274.00 Td (and ) Tj ET Q q 0 0 0 rg BT 208.26 274.00 Td (Core ) Tj ET Q q 0 0 0 rg BT 235.34 274.00 Td (FFO ) Tj ET Q q 0 0 0 rg BT 260.58 274.00 Td (as ) Tj ET Q q 0 0 0 rg BT 275.44 274.00 Td (a ) Tj ET Q q 0 0 0 rg BT 284.80 274.00 Td (key ) Tj ET Q q 0 0 0 rg BT 305.16 274.00 Td (performance ) Tj ET Q q 0 0 0 rg BT 370.16 274.00 Td (indicator ) Tj ET Q q 0 0 0 rg BT 414.98 274.00 Td (in ) Tj ET Q q 0 0 0 rg BT 426.78 274.00 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 480.17 274.00 Td (the ) Tj ET Q q 0 0 0 rg BT 498.71 274.00 Td (operations ) Tj ET Q q 0 0 0 rg BT 553.32 274.00 Td (of ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 260.80 Td (our ) Tj ET Q q 0 0 0 rg BT 68.05 260.80 Td (properties. ) Tj ET Q q 0 0 0 rg BT 122.67 260.80 Td (Given ) Tj ET Q q 0 0 0 rg BT 154.05 260.80 Td (the ) Tj ET Q q 0 0 0 rg BT 171.99 260.80 Td (nature ) Tj ET Q q 0 0 0 rg BT 205.83 260.80 Td (of ) Tj ET Q q 0 0 0 rg BT 217.65 260.80 Td (our ) Tj ET Q q 0 0 0 rg BT 236.20 260.80 Td (business ) Tj ET Q q 0 0 0 rg BT 282.26 260.80 Td (as ) Tj ET Q q 0 0 0 rg BT 296.53 260.80 Td (a ) Tj ET Q q 0 0 0 rg BT 305.30 260.80 Td (real ) Tj ET Q q 0 0 0 rg BT 326.29 260.80 Td (estate ) Tj ET Q q 0 0 0 rg BT 358.90 260.80 Td (owner ) Tj ET Q q 0 0 0 rg BT 391.51 260.80 Td (and ) Tj ET Q q 0 0 0 rg BT 412.51 260.80 Td (operator) Tj ET Q q 0 0 0 rg BT 452.88 260.80 Td (, ) Tj ET Q q 0 0 0 rg BT 458.58 260.80 Td (we ) Tj ET Q q 0 0 0 rg BT 475.29 260.80 Td (consider ) Tj ET Q q 0 0 0 rg BT 519.52 260.80 Td (FFO ) Tj ET Q q 0 0 0 rg BT 544.16 260.80 Td (and ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 247.60 Td (Core ) Tj ET Q q 0 0 0 rg BT 76.11 247.60 Td (FFO ) Tj ET Q q 0 0 0 rg BT 100.88 247.60 Td (as ) Tj ET Q q 0 0 0 rg BT 115.27 247.60 Td (key ) Tj ET Q q 0 0 0 rg BT 135.16 247.60 Td (supplemental ) Tj ET Q q 0 0 0 rg BT 203.37 247.60 Td (measures ) Tj ET Q q 0 0 0 rg BT 254.43 247.60 Td (of ) Tj ET Q q 0 0 0 rg BT 266.38 247.60 Td (our ) Tj ET Q q 0 0 0 rg BT 285.05 247.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 333.69 247.60 Td (performance ) Tj ET Q q 0 0 0 rg BT 398.22 247.60 Td (that ) Tj ET Q q 0 0 0 rg BT 419.34 247.60 Td (are ) Tj ET Q q 0 0 0 rg BT 438.01 247.60 Td (not ) Tj ET Q q 0 0 0 rg BT 456.07 247.60 Td (specifically ) Tj ET Q q 0 0 0 rg BT 512.03 247.60 Td (defined ) Tj ET Q q 0 0 0 rg BT 550.89 247.60 Td (by ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 234.40 Td (GAAP) Tj ET Q q 0 0 0 rg BT 78.65 234.40 Td (. ) Tj ET Q q 0 0 0 rg BT 84.92 234.40 Td (W) Tj ET Q q 0 0 0 rg BT 95.10 234.40 Td (e ) Tj ET Q q 0 0 0 rg BT 104.44 234.40 Td (believe ) Tj ET Q q 0 0 0 rg BT 142.51 234.40 Td (that ) Tj ET Q q 0 0 0 rg BT 164.08 234.40 Td (FFO ) Tj ET Q q 0 0 0 rg BT 189.29 234.40 Td (and ) Tj ET Q q 0 0 0 rg BT 210.85 234.40 Td (Core ) Tj ET Q q 0 0 0 rg BT 237.91 234.40 Td (FFO ) Tj ET Q q 0 0 0 rg BT 263.12 234.40 Td (are ) Tj ET Q q 0 0 0 rg BT 282.24 234.40 Td (useful ) Tj ET Q q 0 0 0 rg BT 314.81 234.40 Td (to ) Tj ET Q q 0 0 0 rg BT 327.20 234.40 Td (management ) Tj ET Q q 0 0 0 rg BT 394.62 234.40 Td (and ) Tj ET Q q 0 0 0 rg BT 416.19 234.40 Td (investors ) Tj ET Q q 0 0 0 rg BT 463.42 234.40 Td (as ) Tj ET Q q 0 0 0 rg BT 478.25 234.40 Td (a ) Tj ET Q q 0 0 0 rg BT 487.59 234.40 Td (starting ) Tj ET Q q 0 0 0 rg BT 526.87 234.40 Td (point ) Tj ET Q q 0 0 0 rg BT 553.94 234.40 Td (in ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 221.20 Td (measuring ) Tj ET Q q 0 0 0 rg BT 103.52 221.20 Td (our ) Tj ET Q q 0 0 0 rg BT 122.09 221.20 Td (operational ) Tj ET Q q 0 0 0 rg BT 179.18 221.20 Td (performance ) Tj ET Q q 0 0 0 rg BT 243.60 221.20 Td (because ) Tj ET Q q 0 0 0 rg BT 287.85 221.20 Td (FFO ) Tj ET Q q 0 0 0 rg BT 312.51 221.20 Td (and ) Tj ET Q q 0 0 0 rg BT 333.53 221.20 Td (Core ) Tj ET Q q 0 0 0 rg BT 360.04 221.20 Td (FFO ) Tj ET Q q 0 0 0 rg BT 384.70 221.20 Td (exclude ) Tj ET Q q 0 0 0 rg BT 425.28 221.20 Td (various ) Tj ET Q q 0 0 0 rg BT 463.40 221.20 Td (items ) Tj ET Q q 0 0 0 rg BT 492.35 221.20 Td (included ) Tj ET Q q 0 0 0 rg BT 535.99 221.20 Td (in ) Tj ET Q q 0 0 0 rg BT 547.22 221.20 Td (net ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 208.00 Td (income ) Tj ET Q q 0 0 0 rg BT 87.02 208.00 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 115.97 208.00 Td (that ) Tj ET Q q 0 0 0 rg BT 136.37 208.00 Td (do ) Tj ET Q q 0 0 0 rg BT 150.67 208.00 Td (not ) Tj ET Q q 0 0 0 rg BT 168.02 208.00 Td (relate ) Tj ET Q q 0 0 0 rg BT 197.59 208.00 Td (to ) Tj ET Q q 0 0 0 rg BT 208.83 208.00 Td (or ) Tj ET Q q 0 0 0 rg BT 220.67 208.00 Td (are ) Tj ET Q q 0 0 0 rg BT 238.62 208.00 Td (not ) Tj ET Q q 0 0 0 rg BT 255.97 208.00 Td (indicative ) Tj ET Q q 0 0 0 rg BT 303.89 208.00 Td (of ) Tj ET Q q 0 0 0 rg BT 315.12 208.00 Td (our ) Tj ET Q q 0 0 0 rg BT 333.08 208.00 Td (operating ) Tj ET Q q 0 0 0 rg BT 381.01 208.00 Td (performance ) Tj ET Q q 0 0 0 rg BT 444.82 208.00 Td (such ) Tj ET Q q 0 0 0 rg BT 470.11 208.00 Td (as ) Tj ET Q q 0 0 0 rg BT 483.79 208.00 Td (gains ) Tj ET Q q 0 0 0 rg BT 512.15 208.00 Td (\(or ) Tj ET Q q 0 0 0 rg BT 527.65 208.00 Td (losses\) ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 194.80 Td (from ) Tj ET Q q 0 0 0 rg BT 76.02 194.80 Td (sales ) Tj ET Q q 0 0 0 rg BT 106.23 194.80 Td (of ) Tj ET Q q 0 0 0 rg BT 119.92 194.80 Td (self ) Tj ET Q q 0 0 0 rg BT 141.56 194.80 Td (storage ) Tj ET Q q 0 0 0 rg BT 182.78 194.80 Td (properties ) Tj ET Q q 0 0 0 rg BT 236.21 194.80 Td (and ) Tj ET Q q 0 0 0 rg BT 259.09 194.80 Td (depreciation, ) Tj ET Q q 0 0 0 rg BT 326.60 194.80 Td (which ) Tj ET Q q 0 0 0 rg BT 359.24 194.80 Td (can ) Tj ET Q q 0 0 0 rg BT 381.50 194.80 Td (make ) Tj ET Q q 0 0 0 rg BT 412.92 194.80 Td (periodic ) Tj ET Q q 0 0 0 rg BT 455.97 194.80 Td (and ) Tj ET Q q 0 0 0 rg BT 478.84 194.80 Td (peer ) Tj ET Q q 0 0 0 rg BT 505.38 194.80 Td (analyses ) Tj ET Q q 0 0 0 rg BT 553.32 194.80 Td (of ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 181.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 99.01 181.60 Td (performance ) Tj ET Q q 0 0 0 rg BT 164.41 181.60 Td (more ) Tj ET Q q 0 0 0 rg BT 193.11 181.60 Td (dif) Tj ET Q q 0 0 0 rg BT 204.53 181.60 Td (ficult. ) Tj ET Q q 0 0 0 rg BT 233.85 181.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 255.83 181.60 Td (computation ) Tj ET Q q 0 0 0 rg BT 319.40 181.60 Td (of ) Tj ET Q q 0 0 0 rg BT 332.22 181.60 Td (FFO ) Tj ET Q q 0 0 0 rg BT 357.86 181.60 Td (and ) Tj ET Q q 0 0 0 rg BT 379.85 181.60 Td (Core ) Tj ET Q q 0 0 0 rg BT 407.34 181.60 Td (FFO ) Tj ET Q q 0 0 0 rg BT 432.98 181.60 Td (may ) Tj ET Q q 0 0 0 rg BT 457.40 181.60 Td (not ) Tj ET Q q 0 0 0 rg BT 476.34 181.60 Td (be ) Tj ET Q q 0 0 0 rg BT 492.22 181.60 Td (comparable ) Tj ET Q q 0 0 0 rg BT 553.34 181.60 Td (to ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 168.40 Td (FFO ) Tj ET Q q 0 0 0 rg BT 74.55 168.40 Td (reported ) Tj ET Q q 0 0 0 rg BT 118.58 168.40 Td (by ) Tj ET Q q 0 0 0 rg BT 133.25 168.40 Td (other ) Tj ET Q q 0 0 0 rg BT 161.38 168.40 Td (REIT) Tj ET Q q 0 0 0 rg BT 185.22 168.40 Td (s ) Tj ET Q q 0 0 0 rg BT 193.77 168.40 Td (or ) Tj ET Q q 0 0 0 rg BT 206.61 168.40 Td (real ) Tj ET Q q 0 0 0 rg BT 228.01 168.40 Td (estate ) Tj ET Q q 0 0 0 rg BT 261.03 168.40 Td (companies.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 67.50 149.20 Td (FFO ) Tj ET Q q 0 0 0 rg BT 92.71 149.20 Td (and ) Tj ET Q q 0 0 0 rg BT 114.27 149.20 Td (Core ) Tj ET Q q 0 0 0 rg BT 141.32 149.20 Td (FFO ) Tj ET Q q 0 0 0 rg BT 166.53 149.20 Td (should ) Tj ET Q q 0 0 0 rg BT 202.16 149.20 Td (be ) Tj ET Q q 0 0 0 rg BT 217.60 149.20 Td (considered ) Tj ET Q q 0 0 0 rg BT 274.63 149.20 Td (in ) Tj ET Q q 0 0 0 rg BT 286.40 149.20 Td (addition ) Tj ET Q q 0 0 0 rg BT 328.14 149.20 Td (to, ) Tj ET Q q 0 0 0 rg BT 343.59 149.20 Td (but ) Tj ET Q q 0 0 0 rg BT 362.09 149.20 Td (not ) Tj ET Q q 0 0 0 rg BT 380.59 149.20 Td (as ) Tj ET Q q 0 0 0 rg BT 395.42 149.20 Td (a ) Tj ET Q q 0 0 0 rg BT 404.75 149.20 Td (substitute ) Tj ET Q q 0 0 0 rg BT 455.04 149.20 Td (for) Tj ET Q q 0 0 0 rg BT 467.27 149.20 Td (, ) Tj ET Q q 0 0 0 rg BT 473.54 149.20 Td (other ) Tj ET Q q 0 0 0 rg BT 501.83 149.20 Td (measures ) Tj ET Q q 0 0 0 rg BT 553.33 149.20 Td (of ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 136.00 Td (financial ) Tj ET Q q 0 0 0 rg BT 92.27 136.00 Td (performance ) Tj ET Q q 0 0 0 rg BT 156.44 136.00 Td (reported ) Tj ET Q q 0 0 0 rg BT 199.82 136.00 Td (in ) Tj ET Q q 0 0 0 rg BT 210.80 136.00 Td (accordance ) Tj ET Q q 0 0 0 rg BT 270.08 136.00 Td (with ) Tj ET Q q 0 0 0 rg BT 292.06 136.00 Td (GAAP) Tj ET Q q 0 0 0 rg BT 321.21 136.00 Td (, ) Tj ET Q q 0 0 0 rg BT 326.68 136.00 Td (such ) Tj ET Q q 0 0 0 rg BT 352.33 136.00 Td (as ) Tj ET Q q 0 0 0 rg BT 366.36 136.00 Td (total ) Tj ET Q q 0 0 0 rg BT 389.57 136.00 Td (revenues, ) Tj ET Q q 0 0 0 rg BT 440.29 136.00 Td (operating ) Tj ET Q q 0 0 0 rg BT 488.57 136.00 Td (income ) Tj ET Q q 0 0 0 rg BT 526.45 136.00 Td (and ) Tj ET Q q 0 0 0 rg BT 547.22 136.00 Td (net ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 122.80 Td (income ) Tj ET Q q 0 0 0 rg BT 87.69 122.80 Td (\(loss\). ) Tj ET Q q 0 0 0 rg BT 120.37 122.80 Td (FFO ) Tj ET Q q 0 0 0 rg BT 145.10 122.80 Td (and ) Tj ET Q q 0 0 0 rg BT 166.19 122.80 Td (Core ) Tj ET Q q 0 0 0 rg BT 192.76 122.80 Td (FFO ) Tj ET Q q 0 0 0 rg BT 217.49 122.80 Td (do ) Tj ET Q q 0 0 0 rg BT 232.46 122.80 Td (not ) Tj ET Q q 0 0 0 rg BT 250.49 122.80 Td (represent ) Tj ET Q q 0 0 0 rg BT 299.69 122.80 Td (cash ) Tj ET Q q 0 0 0 rg BT 325.66 122.80 Td (generated ) Tj ET Q q 0 0 0 rg BT 377.94 122.80 Td (from ) Tj ET Q q 0 0 0 rg BT 402.67 122.80 Td (operating ) Tj ET Q q 0 0 0 rg BT 451.27 122.80 Td (activities ) Tj ET Q q 0 0 0 rg BT 496.19 122.80 Td (determined ) Tj ET Q q 0 0 0 rg BT 553.95 122.80 Td (in ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 109.60 Td (accordance ) Tj ET Q q 0 0 0 rg BT 111.14 109.60 Td (with ) Tj ET Q q 0 0 0 rg BT 135.46 109.60 Td (GAAP) Tj ET Q q 0 0 0 rg BT 165.83 109.60 Td ( ) Tj ET Q q 0 0 0 rg BT 170.60 109.60 Td (and ) Tj ET Q q 0 0 0 rg BT 193.72 109.60 Td (are ) Tj ET Q q 0 0 0 rg BT 214.38 109.60 Td (not ) Tj ET Q q 0 0 0 rg BT 234.44 109.60 Td (a ) Tj ET Q q 0 0 0 rg BT 245.32 109.60 Td (measure ) Tj ET Q q 0 0 0 rg BT 292.89 109.60 Td (of ) Tj ET Q q 0 0 0 rg BT 306.83 109.60 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 348.28 109.60 Td (or ) Tj ET Q q 0 0 0 rg BT 362.82 109.60 Td (an ) Tj ET Q q 0 0 0 rg BT 379.82 109.60 Td (indicator ) Tj ET Q q 0 0 0 rg BT 426.17 109.60 Td (of ) Tj ET Q q 0 0 0 rg BT 440.11 109.60 Td (our ) Tj ET Q q 0 0 0 rg BT 460.77 109.60 Td (ability ) Tj ET Q q 0 0 0 rg BT 493.66 109.60 Td (to ) Tj ET Q q 0 0 0 rg BT 507.60 109.60 Td (make ) Tj ET Q q 0 0 0 rg BT 539.27 109.60 Td (cash ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 96.40 Td (distributions. ) Tj ET Q q 0 0 0 rg BT 112.94 96.40 Td (W) Tj ET Q q 0 0 0 rg BT 123.12 96.40 Td (e ) Tj ET Q q 0 0 0 rg BT 130.92 96.40 Td (believe ) Tj ET Q q 0 0 0 rg BT 167.47 96.40 Td (that ) Tj ET Q q 0 0 0 rg BT 187.50 96.40 Td (to ) Tj ET Q q 0 0 0 rg BT 198.36 96.40 Td (further ) Tj ET Q q 0 0 0 rg BT 231.84 96.40 Td (understand ) Tj ET Q q 0 0 0 rg BT 288.57 96.40 Td (our ) Tj ET Q q 0 0 0 rg BT 306.15 96.40 Td (performance, ) Tj ET Q q 0 0 0 rg BT 372.65 96.40 Td (FFO ) Tj ET Q q 0 0 0 rg BT 396.33 96.40 Td (and ) Tj ET Q q 0 0 0 rg BT 416.37 96.40 Td (Core ) Tj ET Q q 0 0 0 rg BT 441.90 96.40 Td (FFO ) Tj ET Q q 0 0 0 rg BT 465.58 96.40 Td (should ) Tj ET Q q 0 0 0 rg BT 499.68 96.40 Td (be ) Tj ET Q q 0 0 0 rg BT 513.60 96.40 Td (compared ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 83.20 Td (with ) Tj ET Q q 0 0 0 rg BT 72.12 83.20 Td (our ) Tj ET Q q 0 0 0 rg BT 91.07 83.20 Td (reported ) Tj ET Q q 0 0 0 rg BT 135.10 83.20 Td (net ) Tj ET Q q 0 0 0 rg BT 153.45 83.20 Td (income ) Tj ET Q q 0 0 0 rg BT 191.96 83.20 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 221.91 83.20 Td (and ) Tj ET Q q 0 0 0 rg BT 243.32 83.20 Td (considered ) Tj ET Q q 0 0 0 rg BT 300.19 83.20 Td (in ) Tj ET Q q 0 0 0 rg BT 311.80 83.20 Td (addition ) Tj ET Q q 0 0 0 rg BT 353.39 83.20 Td (to ) Tj ET Q q 0 0 0 rg BT 365.62 83.20 Td (cash ) Tj ET Q q 0 0 0 rg BT 391.91 83.20 Td (flows ) Tj ET Q q 0 0 0 rg BT 420.03 83.20 Td (computed ) Tj ET Q q 0 0 0 rg BT 471.39 83.20 Td (in ) Tj ET Q q 0 0 0 rg BT 483.01 83.20 Td (accordance ) Tj ET Q q 0 0 0 rg BT 542.94 83.20 Td (with ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 70.00 Td (GAAP) Tj ET Q q 0 0 0 rg BT 78.65 70.00 Td (, ) Tj ET Q q 0 0 0 rg BT 84.76 70.00 Td (as ) Tj ET Q q 0 0 0 rg BT 99.44 70.00 Td (presented ) Tj ET Q q 0 0 0 rg BT 151.42 70.00 Td (in ) Tj ET Q q 0 0 0 rg BT 163.03 70.00 Td (our ) Tj ET Q q 0 0 0 rg BT 181.99 70.00 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 246.81 70.00 Td (financial ) Tj ET Q q 0 0 0 rg BT 290.23 70.00 Td (statements.) Tj ET Q /GS0 gs q 57.00 0 0 47.00 50.00 732.50 cm /I19 Do Q endstream endobj 41 0 obj <> endobj 42 0 obj <> stream BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 300.40 33.25 Td (18) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 712.00 Td (NET ) Tj ET Q q 0 0 0 rg BT 74.06 712.00 Td (OPERA) Tj ET Q q 0 0 0 rg BT 112.36 712.00 Td (TING ) Tj ET Q q 0 0 0 rg BT 141.20 712.00 Td (INCOME: ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 191.42 712.00 Td (W) Tj ET Q q 0 0 0 rg BT 204.66 712.00 Td (e ) Tj ET Q q 0 0 0 rg BT 213.34 712.00 Td (define ) Tj ET Q q 0 0 0 rg BT 245.87 712.00 Td (net ) Tj ET Q q 0 0 0 rg BT 263.72 712.00 Td (operating ) Tj ET Q q 0 0 0 rg BT 312.15 712.00 Td (income, ) Tj ET Q q 0 0 0 rg BT 353.23 712.00 Td (or ) Tj ET Q q 0 0 0 rg BT 365.57 712.00 Td (NOI, ) Tj ET Q q 0 0 0 rg BT 390.74 712.00 Td (as ) Tj ET Q q 0 0 0 rg BT 404.92 712.00 Td (net ) Tj ET Q q 0 0 0 rg BT 422.77 712.00 Td (income ) Tj ET Q q 0 0 0 rg BT 460.79 712.00 Td (\(loss\), ) Tj ET Q q 0 0 0 rg BT 493.30 712.00 Td (as ) Tj ET Q q 0 0 0 rg BT 507.48 712.00 Td (determined ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 698.80 Td (under ) Tj ET Q q 0 0 0 rg BT 81.54 698.80 Td (GAAP) Tj ET Q q 0 0 0 rg BT 110.69 698.80 Td (, ) Tj ET Q q 0 0 0 rg BT 117.65 698.80 Td (plus ) Tj ET Q q 0 0 0 rg BT 141.73 698.80 Td (general ) Tj ET Q q 0 0 0 rg BT 182.33 698.80 Td (and ) Tj ET Q q 0 0 0 rg BT 204.59 698.80 Td (administrative ) Tj ET Q q 0 0 0 rg BT 276.36 698.80 Td (expense, ) Tj ET Q q 0 0 0 rg BT 324.91 698.80 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 388.74 698.80 Td (and ) Tj ET Q q 0 0 0 rg BT 411.00 698.80 Td (amortization, ) Tj ET Q q 0 0 0 rg BT 477.88 698.80 Td (interest ) Tj ET Q q 0 0 0 rg BT 517.85 698.80 Td (expense, ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 685.60 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 104.13 685.60 Td (costs, ) Tj ET Q q 0 0 0 rg BT 135.50 685.60 Td (organizational ) Tj ET Q q 0 0 0 rg BT 206.65 685.60 Td (and ) Tj ET Q q 0 0 0 rg BT 227.65 685.60 Td (of) Tj ET Q q 0 0 0 rg BT 236.62 685.60 Td (fering ) Tj ET Q q 0 0 0 rg BT 266.79 685.60 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 319.58 685.60 Td (impairment ) Tj ET Q q 0 0 0 rg BT 376.63 685.60 Td (of ) Tj ET Q q 0 0 0 rg BT 388.46 685.60 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 438.19 685.60 Td (assets, ) Tj ET Q q 0 0 0 rg BT 475.68 685.60 Td (losses ) Tj ET Q q 0 0 0 rg BT 509.51 685.60 Td (on ) Tj ET Q q 0 0 0 rg BT 524.40 685.60 Td (the ) Tj ET Q q 0 0 0 rg BT 542.34 685.60 Td (sale ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 672.40 Td (of ) Tj ET Q q 0 0 0 rg BT 61.73 672.40 Td (properties ) Tj ET Q q 0 0 0 rg BT 113.69 672.40 Td (and ) Tj ET Q q 0 0 0 rg BT 135.10 672.40 Td (non-operating ) Tj ET Q q 0 0 0 rg BT 206.04 672.40 Td (expense ) Tj ET Q q 0 0 0 rg BT 250.68 672.40 Td (and ) Tj ET Q q 0 0 0 rg BT 272.09 672.40 Td (by ) Tj ET Q q 0 0 0 rg BT 286.76 672.40 Td (subtracting ) Tj ET Q q 0 0 0 rg BT 343.62 672.40 Td (gains ) Tj ET Q q 0 0 0 rg BT 372.97 672.40 Td (on ) Tj ET Q q 0 0 0 rg BT 388.26 672.40 Td (sale ) Tj ET Q q 0 0 0 rg BT 411.49 672.40 Td (of ) Tj ET Q q 0 0 0 rg BT 423.72 672.40 Td (properties, ) Tj ET Q q 0 0 0 rg BT 478.74 672.40 Td (debt ) Tj ET Q q 0 0 0 rg BT 503.20 672.40 Td (forgiveness, ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 659.20 Td (and ) Tj ET Q q 0 0 0 rg BT 70.91 659.20 Td (non-operating ) Tj ET Q q 0 0 0 rg BT 141.85 659.20 Td (income. ) Tj ET Q q 0 0 0 rg BT 183.42 659.20 Td (NOI ) Tj ET Q q 0 0 0 rg BT 206.04 659.20 Td (is ) Tj ET Q q 0 0 0 rg BT 217.04 659.20 Td (not ) Tj ET Q q 0 0 0 rg BT 235.38 659.20 Td (a ) Tj ET Q q 0 0 0 rg BT 244.56 659.20 Td (measure ) Tj ET Q q 0 0 0 rg BT 290.41 659.20 Td (of ) Tj ET Q q 0 0 0 rg BT 302.64 659.20 Td (performance ) Tj ET Q q 0 0 0 rg BT 367.45 659.20 Td (calculated ) Tj ET Q q 0 0 0 rg BT 420.04 659.20 Td (in ) Tj ET Q q 0 0 0 rg BT 431.65 659.20 Td (accordance ) Tj ET Q q 0 0 0 rg BT 491.58 659.20 Td (with ) Tj ET Q q 0 0 0 rg BT 514.20 659.20 Td (GAAP) Tj ET Q q 0 0 0 rg BT 543.35 659.20 Td (.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 67.50 640.00 Td (W) Tj ET Q q 0 0 0 rg BT 77.68 640.00 Td (e ) Tj ET Q q 0 0 0 rg BT 86.86 640.00 Td (believe ) Tj ET Q q 0 0 0 rg BT 124.77 640.00 Td (NOI ) Tj ET Q q 0 0 0 rg BT 147.38 640.00 Td (is ) Tj ET Q q 0 0 0 rg BT 158.38 640.00 Td (useful ) Tj ET Q q 0 0 0 rg BT 190.79 640.00 Td (to ) Tj ET Q q 0 0 0 rg BT 203.02 640.00 Td (investors ) Tj ET Q q 0 0 0 rg BT 250.10 640.00 Td (in ) Tj ET Q q 0 0 0 rg BT 261.71 640.00 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 314.92 640.00 Td (our ) Tj ET Q q 0 0 0 rg BT 333.87 640.00 Td (operating ) Tj ET Q q 0 0 0 rg BT 382.80 640.00 Td (performance ) Tj ET Q q 0 0 0 rg BT 447.61 640.00 Td (because:) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 67.50 620.80 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 620.80 Td (NOI ) Tj ET Q q 0 0 0 rg BT 106.79 620.80 Td (is ) Tj ET Q q 0 0 0 rg BT 116.46 620.80 Td (one ) Tj ET Q q 0 0 0 rg BT 136.55 620.80 Td (of ) Tj ET Q q 0 0 0 rg BT 147.45 620.80 Td (the ) Tj ET Q q 0 0 0 rg BT 164.47 620.80 Td (primary ) Tj ET Q q 0 0 0 rg BT 202.87 620.80 Td (measures ) Tj ET Q q 0 0 0 rg BT 252.90 620.80 Td (used ) Tj ET Q q 0 0 0 rg BT 278.48 620.80 Td (by ) Tj ET Q q 0 0 0 rg BT 291.83 620.80 Td (our ) Tj ET Q q 0 0 0 rg BT 309.46 620.80 Td (management ) Tj ET Q q 0 0 0 rg BT 375.40 620.80 Td (and ) Tj ET Q q 0 0 0 rg BT 395.48 620.80 Td (our ) Tj ET Q q 0 0 0 rg BT 413.11 620.80 Td (PROs ) Tj ET Q q 0 0 0 rg BT 444.18 620.80 Td (to ) Tj ET Q q 0 0 0 rg BT 455.09 620.80 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 498.40 620.80 Td (the ) Tj ET Q q 0 0 0 rg BT 515.43 620.80 Td (economic ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 607.60 Td (productivity ) Tj ET Q q 0 0 0 rg BT 145.84 607.60 Td (of ) Tj ET Q q 0 0 0 rg BT 159.72 607.60 Td (our ) Tj ET Q q 0 0 0 rg BT 180.33 607.60 Td (properties, ) Tj ET Q q 0 0 0 rg BT 237.01 607.60 Td (including ) Tj ET Q q 0 0 0 rg BT 285.14 607.60 Td (our ) Tj ET Q q 0 0 0 rg BT 305.75 607.60 Td (ability ) Tj ET Q q 0 0 0 rg BT 338.58 607.60 Td (to ) Tj ET Q q 0 0 0 rg BT 352.46 607.60 Td (lease ) Tj ET Q q 0 0 0 rg BT 383.47 607.60 Td (our ) Tj ET Q q 0 0 0 rg BT 404.07 607.60 Td (properties, ) Tj ET Q q 0 0 0 rg BT 460.75 607.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 507.04 607.60 Td (pricing ) Tj ET Q q 0 0 0 rg BT 544.15 607.60 Td (and ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 594.40 Td (occupancy ) Tj ET Q q 0 0 0 rg BT 141.14 594.40 Td (and ) Tj ET Q q 0 0 0 rg BT 162.55 594.40 Td (control ) Tj ET Q q 0 0 0 rg BT 198.63 594.40 Td (our ) Tj ET Q q 0 0 0 rg BT 217.58 594.40 Td (property ) Tj ET Q q 0 0 0 rg BT 260.99 594.40 Td (operating ) Tj ET Q q 0 0 0 rg BT 309.92 594.40 Td (expenses;) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 67.50 575.20 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 575.20 Td (NOI ) Tj ET Q q 0 0 0 rg BT 106.79 575.20 Td (is ) Tj ET Q q 0 0 0 rg BT 116.46 575.20 Td (widely ) Tj ET Q q 0 0 0 rg BT 148.76 575.20 Td (used ) Tj ET Q q 0 0 0 rg BT 174.34 575.20 Td (in ) Tj ET Q q 0 0 0 rg BT 184.64 575.20 Td (the ) Tj ET Q q 0 0 0 rg BT 201.66 575.20 Td (real ) Tj ET Q q 0 0 0 rg BT 221.73 575.20 Td (estate ) Tj ET Q q 0 0 0 rg BT 253.43 575.20 Td (industry ) Tj ET Q q 0 0 0 rg BT 293.68 575.20 Td (and ) Tj ET Q q 0 0 0 rg BT 313.76 575.20 Td (the ) Tj ET Q q 0 0 0 rg BT 330.78 575.20 Td (self ) Tj ET Q q 0 0 0 rg BT 349.63 575.20 Td (storage ) Tj ET Q q 0 0 0 rg BT 388.05 575.20 Td (industry ) Tj ET Q q 0 0 0 rg BT 428.30 575.20 Td (to ) Tj ET Q q 0 0 0 rg BT 439.20 575.20 Td (measure ) Tj ET Q q 0 0 0 rg BT 483.73 575.20 Td (the ) Tj ET Q q 0 0 0 rg BT 500.75 575.20 Td (performance ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 562.00 Td (and ) Tj ET Q q 0 0 0 rg BT 107.34 562.00 Td (value ) Tj ET Q q 0 0 0 rg BT 137.13 562.00 Td (of ) Tj ET Q q 0 0 0 rg BT 149.80 562.00 Td (real ) Tj ET Q q 0 0 0 rg BT 171.63 562.00 Td (estate ) Tj ET Q q 0 0 0 rg BT 205.09 562.00 Td (assets ) Tj ET Q q 0 0 0 rg BT 240.37 562.00 Td (without ) Tj ET Q q 0 0 0 rg BT 278.72 562.00 Td (regard ) Tj ET Q q 0 0 0 rg BT 314.01 562.00 Td (to ) Tj ET Q q 0 0 0 rg BT 326.67 562.00 Td (various ) Tj ET Q q 0 0 0 rg BT 365.62 562.00 Td (items ) Tj ET Q q 0 0 0 rg BT 395.40 562.00 Td (included ) Tj ET Q q 0 0 0 rg BT 439.86 562.00 Td (in ) Tj ET Q q 0 0 0 rg BT 451.92 562.00 Td (net ) Tj ET Q q 0 0 0 rg BT 470.70 562.00 Td (income ) Tj ET Q q 0 0 0 rg BT 509.65 562.00 Td (that ) Tj ET Q q 0 0 0 rg BT 531.49 562.00 Td (do ) Tj ET Q q 0 0 0 rg BT 547.22 562.00 Td (not ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 548.80 Td (relate ) Tj ET Q q 0 0 0 rg BT 115.12 548.80 Td (to ) Tj ET Q q 0 0 0 rg BT 126.39 548.80 Td (or ) Tj ET Q q 0 0 0 rg BT 138.27 548.80 Td (are ) Tj ET Q q 0 0 0 rg BT 156.27 548.80 Td (not ) Tj ET Q q 0 0 0 rg BT 173.67 548.80 Td (indicative ) Tj ET Q q 0 0 0 rg BT 221.63 548.80 Td (of ) Tj ET Q q 0 0 0 rg BT 232.90 548.80 Td (operating ) Tj ET Q q 0 0 0 rg BT 280.87 548.80 Td (performance, ) Tj ET Q q 0 0 0 rg BT 347.78 548.80 Td (such ) Tj ET Q q 0 0 0 rg BT 373.12 548.80 Td (as ) Tj ET Q q 0 0 0 rg BT 386.83 548.80 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 448.87 548.80 Td (and ) Tj ET Q q 0 0 0 rg BT 469.32 548.80 Td (amortization, ) Tj ET Q q 0 0 0 rg BT 534.39 548.80 Td (which ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 535.60 Td (can ) Tj ET Q q 0 0 0 rg BT 105.22 535.60 Td (vary ) Tj ET Q q 0 0 0 rg BT 127.99 535.60 Td (depending ) Tj ET Q q 0 0 0 rg BT 181.36 535.60 Td (upon ) Tj ET Q q 0 0 0 rg BT 207.82 535.60 Td (accounting ) Tj ET Q q 0 0 0 rg BT 263.02 535.60 Td (methods, ) Tj ET Q q 0 0 0 rg BT 310.25 535.60 Td (the ) Tj ET Q q 0 0 0 rg BT 327.53 535.60 Td (book ) Tj ET Q q 0 0 0 rg BT 353.37 535.60 Td (value ) Tj ET Q q 0 0 0 rg BT 381.66 535.60 Td (of ) Tj ET Q q 0 0 0 rg BT 392.82 535.60 Td (assets, ) Tj ET Q q 0 0 0 rg BT 429.65 535.60 Td (and ) Tj ET Q q 0 0 0 rg BT 449.99 535.60 Td (the ) Tj ET Q q 0 0 0 rg BT 467.27 535.60 Td (impact ) Tj ET Q q 0 0 0 rg BT 501.66 535.60 Td (of ) Tj ET Q q 0 0 0 rg BT 512.82 535.60 Td (our ) Tj ET Q q 0 0 0 rg BT 530.71 535.60 Td (capital ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 522.40 Td (structure; ) Tj ET Q q 0 0 0 rg BT 134.40 522.40 Td (and) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 67.50 503.20 Td ( ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 503.20 Td (W) Tj ET Q q 0 0 0 rg BT 95.68 503.20 Td (e ) Tj ET Q q 0 0 0 rg BT 103.66 503.20 Td (believe ) Tj ET Q q 0 0 0 rg BT 140.37 503.20 Td (NOI ) Tj ET Q q 0 0 0 rg BT 161.78 503.20 Td (helps ) Tj ET Q q 0 0 0 rg BT 189.93 503.20 Td (our ) Tj ET Q q 0 0 0 rg BT 207.69 503.20 Td (investors ) Tj ET Q q 0 0 0 rg BT 253.56 503.20 Td (to ) Tj ET Q q 0 0 0 rg BT 264.59 503.20 Td (meaningfully ) Tj ET Q q 0 0 0 rg BT 328.20 503.20 Td (compare ) Tj ET Q q 0 0 0 rg BT 372.85 503.20 Td (the ) Tj ET Q q 0 0 0 rg BT 390.00 503.20 Td (results ) Tj ET Q q 0 0 0 rg BT 424.25 503.20 Td (of ) Tj ET Q q 0 0 0 rg BT 435.28 503.20 Td (our ) Tj ET Q q 0 0 0 rg BT 453.03 503.20 Td (operating ) Tj ET Q q 0 0 0 rg BT 500.76 503.20 Td (performance ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 490.00 Td (from ) Tj ET Q q 0 0 0 rg BT 110.52 490.00 Td (period ) Tj ET Q q 0 0 0 rg BT 144.12 490.00 Td (to ) Tj ET Q q 0 0 0 rg BT 156.32 490.00 Td (period ) Tj ET Q q 0 0 0 rg BT 189.92 490.00 Td (by ) Tj ET Q q 0 0 0 rg BT 204.56 490.00 Td (removing ) Tj ET Q q 0 0 0 rg BT 252.83 490.00 Td (the ) Tj ET Q q 0 0 0 rg BT 271.14 490.00 Td (impact ) Tj ET Q q 0 0 0 rg BT 306.56 490.00 Td (of ) Tj ET Q q 0 0 0 rg BT 318.76 490.00 Td (our ) Tj ET Q q 0 0 0 rg BT 337.68 490.00 Td (capital ) Tj ET Q q 0 0 0 rg BT 372.50 490.00 Td (structure ) Tj ET Q q 0 0 0 rg BT 418.32 490.00 Td (\(primarily ) Tj ET Q q 0 0 0 rg BT 466.56 490.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 505.66 490.00 Td (expense ) Tj ET Q q 0 0 0 rg BT 550.27 490.00 Td (on ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 476.80 Td (our ) Tj ET Q q 0 0 0 rg BT 104.68 476.80 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 164.83 476.80 Td (indebtedness\) ) Tj ET Q q 0 0 0 rg BT 237.21 476.80 Td (and ) Tj ET Q q 0 0 0 rg BT 258.84 476.80 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 322.05 476.80 Td (of ) Tj ET Q q 0 0 0 rg BT 334.50 476.80 Td (the ) Tj ET Q q 0 0 0 rg BT 353.07 476.80 Td (cost ) Tj ET Q q 0 0 0 rg BT 376.52 476.80 Td (basis ) Tj ET Q q 0 0 0 rg BT 405.48 476.80 Td (of ) Tj ET Q q 0 0 0 rg BT 417.93 476.80 Td (our ) Tj ET Q q 0 0 0 rg BT 437.10 476.80 Td (assets ) Tj ET Q q 0 0 0 rg BT 472.17 476.80 Td (from ) Tj ET Q q 0 0 0 rg BT 497.45 476.80 Td (our ) Tj ET Q q 0 0 0 rg BT 516.62 476.80 Td (operating ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 85.50 463.60 Td (results.) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 67.50 444.40 Td (There ) Tj ET Q q 0 0 0 rg BT 101.23 444.40 Td (are ) Tj ET Q q 0 0 0 rg BT 122.11 444.40 Td (material ) Tj ET Q q 0 0 0 rg BT 166.23 444.40 Td (limitations ) Tj ET Q q 0 0 0 rg BT 220.12 444.40 Td (to ) Tj ET Q q 0 0 0 rg BT 234.28 444.40 Td (using ) Tj ET Q q 0 0 0 rg BT 265.57 444.40 Td (a ) Tj ET Q q 0 0 0 rg BT 276.68 444.40 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 329.06 444.40 Td ( ) Tj ET Q q 0 0 0 rg BT 334.05 444.40 Td (measure ) Tj ET Q q 0 0 0 rg BT 381.84 444.40 Td (such ) Tj ET Q q 0 0 0 rg BT 410.06 444.40 Td (as ) Tj ET Q q 0 0 0 rg BT 426.67 444.40 Td (NOI, ) Tj ET Q q 0 0 0 rg BT 454.27 444.40 Td (including ) Tj ET Q q 0 0 0 rg BT 502.68 444.40 Td (the ) Tj ET Q q 0 0 0 rg BT 522.96 444.40 Td (dif) Tj ET Q q 0 0 0 rg BT 534.38 444.40 Td (ficulty ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 431.20 Td (associated ) Tj ET Q q 0 0 0 rg BT 106.63 431.20 Td (with ) Tj ET Q q 0 0 0 rg BT 130.73 431.20 Td (comparing ) Tj ET Q q 0 0 0 rg BT 186.63 431.20 Td (results ) Tj ET Q q 0 0 0 rg BT 223.57 431.20 Td (among ) Tj ET Q q 0 0 0 rg BT 261.75 431.20 Td (more ) Tj ET Q q 0 0 0 rg BT 291.35 431.20 Td (than ) Tj ET Q q 0 0 0 rg BT 317.30 431.20 Td (one ) Tj ET Q q 0 0 0 rg BT 340.19 431.20 Td (company ) Tj ET Q q 0 0 0 rg BT 389.37 431.20 Td (and ) Tj ET Q q 0 0 0 rg BT 412.26 431.20 Td (the ) Tj ET Q q 0 0 0 rg BT 432.09 431.20 Td (inability ) Tj ET Q q 0 0 0 rg BT 473.32 431.20 Td (to ) Tj ET Q q 0 0 0 rg BT 487.03 431.20 Td (analyze ) Tj ET Q q 0 0 0 rg BT 529.49 431.20 Td (certain ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 418.00 Td (significant ) Tj ET Q q 0 0 0 rg BT 100.02 418.00 Td (items, ) Tj ET Q q 0 0 0 rg BT 130.95 418.00 Td (including ) Tj ET Q q 0 0 0 rg BT 175.97 418.00 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 237.51 418.00 Td (and ) Tj ET Q q 0 0 0 rg BT 257.46 418.00 Td (interest ) Tj ET Q q 0 0 0 rg BT 295.13 418.00 Td (expense, ) Tj ET Q q 0 0 0 rg BT 341.38 418.00 Td (that ) Tj ET Q q 0 0 0 rg BT 361.33 418.00 Td (directly ) Tj ET Q q 0 0 0 rg BT 397.77 418.00 Td (af) Tj ET Q q 0 0 0 rg BT 406.75 418.00 Td (fect ) Tj ET Q q 0 0 0 rg BT 426.08 418.00 Td (our ) Tj ET Q q 0 0 0 rg BT 443.58 418.00 Td (net ) Tj ET Q q 0 0 0 rg BT 460.47 418.00 Td (loss. ) Tj ET Q q 0 0 0 rg BT 484.69 418.00 Td (W) Tj ET Q q 0 0 0 rg BT 494.87 418.00 Td (e ) Tj ET Q q 0 0 0 rg BT 502.59 418.00 Td (compensate ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 404.80 Td (for ) Tj ET Q q 0 0 0 rg BT 65.97 404.80 Td (these ) Tj ET Q q 0 0 0 rg BT 96.52 404.80 Td (limitations ) Tj ET Q q 0 0 0 rg BT 149.06 404.80 Td (by ) Tj ET Q q 0 0 0 rg BT 164.31 404.80 Td (considering ) Tj ET Q q 0 0 0 rg BT 224.21 404.80 Td (the ) Tj ET Q q 0 0 0 rg BT 243.14 404.80 Td (economic ) Tj ET Q q 0 0 0 rg BT 293.85 404.80 Td (ef) Tj ET Q q 0 0 0 rg BT 302.83 404.80 Td (fect ) Tj ET Q q 0 0 0 rg BT 324.19 404.80 Td (of ) Tj ET Q q 0 0 0 rg BT 337.00 404.80 Td (the ) Tj ET Q q 0 0 0 rg BT 355.93 404.80 Td (excluded ) Tj ET Q q 0 0 0 rg BT 403.60 404.80 Td (expense ) Tj ET Q q 0 0 0 rg BT 448.83 404.80 Td (items ) Tj ET Q q 0 0 0 rg BT 478.74 404.80 Td (independently ) Tj ET Q q 0 0 0 rg BT 550.88 404.80 Td (as ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 391.60 Td (well ) Tj ET Q q 0 0 0 rg BT 71.95 391.60 Td (as ) Tj ET Q q 0 0 0 rg BT 87.06 391.60 Td (in ) Tj ET Q q 0 0 0 rg BT 99.12 391.60 Td (connection ) Tj ET Q q 0 0 0 rg BT 155.83 391.60 Td (with ) Tj ET Q q 0 0 0 rg BT 178.89 391.60 Td (our ) Tj ET Q q 0 0 0 rg BT 198.28 391.60 Td (analysis ) Tj ET Q q 0 0 0 rg BT 241.52 391.60 Td (of ) Tj ET Q q 0 0 0 rg BT 254.19 391.60 Td (net ) Tj ET Q q 0 0 0 rg BT 272.98 391.60 Td (income ) Tj ET Q q 0 0 0 rg BT 311.94 391.60 Td (\(loss\). ) Tj ET Q q 0 0 0 rg BT 345.38 391.60 Td (NOI ) Tj ET Q q 0 0 0 rg BT 368.44 391.60 Td (should ) Tj ET Q q 0 0 0 rg BT 404.35 391.60 Td (be ) Tj ET Q q 0 0 0 rg BT 420.08 391.60 Td (considered ) Tj ET Q q 0 0 0 rg BT 477.39 391.60 Td (in ) Tj ET Q q 0 0 0 rg BT 489.45 391.60 Td (addition ) Tj ET Q q 0 0 0 rg BT 531.48 391.60 Td (to, ) Tj ET Q q 0 0 0 rg BT 547.21 391.60 Td (but ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 378.40 Td (not ) Tj ET Q q 0 0 0 rg BT 68.23 378.40 Td (as ) Tj ET Q q 0 0 0 rg BT 83.28 378.40 Td (a ) Tj ET Q q 0 0 0 rg BT 92.84 378.40 Td (substitute ) Tj ET Q q 0 0 0 rg BT 143.36 378.40 Td (for) Tj ET Q q 0 0 0 rg BT 155.59 378.40 Td (, ) Tj ET Q q 0 0 0 rg BT 162.08 378.40 Td (other ) Tj ET Q q 0 0 0 rg BT 190.59 378.40 Td (measures ) Tj ET Q q 0 0 0 rg BT 242.32 378.40 Td (of ) Tj ET Q q 0 0 0 rg BT 254.93 378.40 Td (financial ) Tj ET Q q 0 0 0 rg BT 298.73 378.40 Td (performance ) Tj ET Q q 0 0 0 rg BT 363.91 378.40 Td (reported ) Tj ET Q q 0 0 0 rg BT 408.32 378.40 Td (in ) Tj ET Q q 0 0 0 rg BT 420.32 378.40 Td (accordance ) Tj ET Q q 0 0 0 rg BT 480.63 378.40 Td (with ) Tj ET Q q 0 0 0 rg BT 503.62 378.40 Td (GAAP) Tj ET Q q 0 0 0 rg BT 532.77 378.40 Td (, ) Tj ET Q q 0 0 0 rg BT 539.26 378.40 Td (such ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 365.20 Td (as ) Tj ET Q q 0 0 0 rg BT 64.17 365.20 Td (total ) Tj ET Q q 0 0 0 rg BT 88.02 365.20 Td (revenues, ) Tj ET Q q 0 0 0 rg BT 139.39 365.20 Td (income ) Tj ET Q q 0 0 0 rg BT 177.90 365.20 Td (from ) Tj ET Q q 0 0 0 rg BT 202.96 365.20 Td (operations ) Tj ET Q q 0 0 0 rg BT 257.38 365.20 Td (and ) Tj ET Q q 0 0 0 rg BT 278.79 365.20 Td (net ) Tj ET Q q 0 0 0 rg BT 297.14 365.20 Td (loss.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 346.00 Td (NET ) Tj ET Q q 0 0 0 rg BT 74.56 346.00 Td (OPERA) Tj ET Q q 0 0 0 rg BT 112.86 346.00 Td (TING ) Tj ET Q q 0 0 0 rg BT 142.19 346.00 Td (INCOME ) Tj ET Q q 0 0 0 rg BT 189.25 346.00 Td (MARGIN:) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 237.52 346.00 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 239.77 346.00 Td (The ) Tj ET Q q 0 0 0 rg BT 261.78 346.00 Td (ratio ) Tj ET Q q 0 0 0 rg BT 286.23 346.00 Td (of ) Tj ET Q q 0 0 0 rg BT 298.46 346.00 Td (NOI ) Tj ET Q q 0 0 0 rg BT 321.07 346.00 Td (divided ) Tj ET Q q 0 0 0 rg BT 358.99 346.00 Td (by ) Tj ET Q q 0 0 0 rg BT 373.66 346.00 Td (total ) Tj ET Q q 0 0 0 rg BT 397.51 346.00 Td (revenue.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 326.80 Td (NON-SAME ) Tj ET Q q 0 0 0 rg BT 112.16 326.80 Td (ST) Tj ET Q q 0 0 0 rg BT 126.02 326.80 Td (ORE ) Tj ET Q q 0 0 0 rg BT 152.64 326.80 Td (PORTFOLIO: ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 223.24 326.80 Td (Non-Same ) Tj ET Q q 0 0 0 rg BT 278.59 326.80 Td (Store ) Tj ET Q q 0 0 0 rg BT 307.66 326.80 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 349.57 326.80 Td (comprises ) Tj ET Q q 0 0 0 rg BT 402.47 326.80 Td (those ) Tj ET Q q 0 0 0 rg BT 432.16 326.80 Td (properties ) Tj ET Q q 0 0 0 rg BT 483.85 326.80 Td (that ) Tj ET Q q 0 0 0 rg BT 504.97 326.80 Td (do ) Tj ET Q q 0 0 0 rg BT 519.99 326.80 Td (not ) Tj ET Q q 0 0 0 rg BT 538.05 326.80 Td (meet ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 313.60 Td (the ) Tj ET Q q 0 0 0 rg BT 67.85 313.60 Td (Same ) Tj ET Q q 0 0 0 rg BT 99.64 313.60 Td (Store ) Tj ET Q q 0 0 0 rg BT 128.99 313.60 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 171.18 313.60 Td (property ) Tj ET Q q 0 0 0 rg BT 214.59 313.60 Td (definition.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 294.40 Td (OCCUP) Tj ET Q q 0 0 0 rg BT 88.41 294.40 Td (ANCY) Tj ET Q q 0 0 0 rg BT 119.38 294.40 Td ( ) Tj ET Q q 0 0 0 rg BT 121.95 294.40 Td (A) Tj ET Q q 0 0 0 rg BT 129.07 294.40 Td (T ) Tj ET Q q 0 0 0 rg BT 138.76 294.40 Td (PERIOD ) Tj ET Q q 0 0 0 rg BT 183.90 294.40 Td (END: ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 213.75 294.40 Td () Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 216.00 294.40 Td (Represents ) Tj ET Q q 0 0 0 rg BT 275.22 294.40 Td (total ) Tj ET Q q 0 0 0 rg BT 298.97 294.40 Td (occupied ) Tj ET Q q 0 0 0 rg BT 345.97 294.40 Td (rentable ) Tj ET Q q 0 0 0 rg BT 388.69 294.40 Td (square ) Tj ET Q q 0 0 0 rg BT 425.29 294.40 Td (feet ) Tj ET Q q 0 0 0 rg BT 446.60 294.40 Td (divided ) Tj ET Q q 0 0 0 rg BT 484.42 294.40 Td (by ) Tj ET Q q 0 0 0 rg BT 499.01 294.40 Td (total ) Tj ET Q q 0 0 0 rg BT 522.76 294.40 Td (rentable ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 281.20 Td (square ) Tj ET Q q 0 0 0 rg BT 86.19 281.20 Td (feet ) Tj ET Q q 0 0 0 rg BT 107.59 281.20 Td (at ) Tj ET Q q 0 0 0 rg BT 119.82 281.20 Td (period ) Tj ET Q q 0 0 0 rg BT 153.46 281.20 Td (end.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 262.00 Td (PROs:) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 83.12 262.00 Td ( ) Tj ET Q q 0 0 0 rg BT 85.39 262.00 Td (Participating ) Tj ET Q q 0 0 0 rg BT 148.19 262.00 Td (regional ) Tj ET Q q 0 0 0 rg BT 189.60 262.00 Td (operators, ) Tj ET Q q 0 0 0 rg BT 241.39 262.00 Td (or ) Tj ET Q q 0 0 0 rg BT 253.44 262.00 Td ("PROs", ) Tj ET Q q 0 0 0 rg BT 295.92 262.00 Td (are ) Tj ET Q q 0 0 0 rg BT 314.08 262.00 Td (our ) Tj ET Q q 0 0 0 rg BT 332.25 262.00 Td (experienced ) Tj ET Q q 0 0 0 rg BT 394.45 262.00 Td (regional ) Tj ET Q q 0 0 0 rg BT 435.86 262.00 Td (self ) Tj ET Q q 0 0 0 rg BT 455.25 262.00 Td (storage ) Tj ET Q q 0 0 0 rg BT 494.21 262.00 Td (operators ) Tj ET Q q 0 0 0 rg BT 542.95 262.00 Td (with ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 248.80 Td (local ) Tj ET Q q 0 0 0 rg BT 74.85 248.80 Td (operational ) Tj ET Q q 0 0 0 rg BT 132.01 248.80 Td (focus ) Tj ET Q q 0 0 0 rg BT 161.03 248.80 Td (and ) Tj ET Q q 0 0 0 rg BT 182.12 248.80 Td (expertise. ) Tj ET Q q 0 0 0 rg BT 232.54 248.80 Td ( ) Tj ET Q q 0 0 0 rg BT 234.72 248.80 Td (As ) Tj ET Q q 0 0 0 rg BT 250.29 248.80 Td (of ) Tj ET Q q 0 0 0 rg BT 262.19 248.80 Td (March ) Tj ET Q q 0 0 0 rg BT 295.48 248.80 Td (31, ) Tj ET Q q 0 0 0 rg BT 313.50 248.80 Td (2015, ) Tj ET Q q 0 0 0 rg BT 343.76 248.80 Td (our ) Tj ET Q q 0 0 0 rg BT 362.39 248.80 Td (Company ) Tj ET Q q 0 0 0 rg BT 412.20 248.80 Td (had ) Tj ET Q q 0 0 0 rg BT 433.28 248.80 Td (five ) Tj ET Q q 0 0 0 rg BT 453.13 248.80 Td (PROs, ) Tj ET Q q 0 0 0 rg BT 488.25 248.80 Td (SecurCare ) Tj ET Q q 0 0 0 rg BT 543.56 248.80 Td (Self ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 235.60 Td (Storage, ) Tj ET Q q 0 0 0 rg BT 93.88 235.60 Td (an ) Tj ET Q q 0 0 0 rg BT 108.91 235.60 Td (af) Tj ET Q q 0 0 0 rg BT 117.89 235.60 Td (filiate ) Tj ET Q q 0 0 0 rg BT 146.37 235.60 Td (of ) Tj ET Q q 0 0 0 rg BT 158.34 235.60 Td (NSA's ) Tj ET Q q 0 0 0 rg BT 191.35 235.60 Td (Predecessor) Tj ET Q q 0 0 0 rg BT 252.50 235.60 Td (, ) Tj ET Q q 0 0 0 rg BT 258.35 235.60 Td (Northwest ) Tj ET Q q 0 0 0 rg BT 310.67 235.60 Td (Self ) Tj ET Q q 0 0 0 rg BT 332.42 235.60 Td (Storage, ) Tj ET Q q 0 0 0 rg BT 376.80 235.60 Td (Optivest ) Tj ET Q q 0 0 0 rg BT 419.94 235.60 Td (Properties, ) Tj ET Q q 0 0 0 rg BT 475.93 235.60 Td (Guardian ) Tj ET Q q 0 0 0 rg BT 523.98 235.60 Td (Storage ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 222.40 Td (Centers, ) Tj ET Q q 0 0 0 rg BT 94.70 222.40 Td (and ) Tj ET Q q 0 0 0 rg BT 116.68 222.40 Td (Move ) Tj ET Q q 0 0 0 rg BT 147.21 222.40 Td (It ) Tj ET Q q 0 0 0 rg BT 156.95 222.40 Td (Self ) Tj ET Q q 0 0 0 rg BT 179.54 222.40 Td (Storage. ) Tj ET Q q 0 0 0 rg BT 224.75 222.40 Td (Our ) Tj ET Q q 0 0 0 rg BT 246.72 222.40 Td (sixth ) Tj ET Q q 0 0 0 rg BT 272.96 222.40 Td (PRO, ) Tj ET Q q 0 0 0 rg BT 303.49 222.40 Td (Storage ) Tj ET Q q 0 0 0 rg BT 345.64 222.40 Td (Solutions, ) Tj ET Q q 0 0 0 rg BT 397.58 222.40 Td (was ) Tj ET Q q 0 0 0 rg BT 420.77 222.40 Td (added ) Tj ET Q q 0 0 0 rg BT 454.99 222.40 Td (in ) Tj ET Q q 0 0 0 rg BT 467.18 222.40 Td (connection ) Tj ET Q q 0 0 0 rg BT 524.01 222.40 Td (with ) Tj ET Q q 0 0 0 rg BT 547.21 222.40 Td (the ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 209.20 Td (completion ) Tj ET Q q 0 0 0 rg BT 105.75 209.20 Td (of ) Tj ET Q q 0 0 0 rg BT 117.98 209.20 Td (the ) Tj ET Q q 0 0 0 rg BT 136.33 209.20 Td (IPO ) Tj ET Q q 0 0 0 rg BT 158.33 209.20 Td (and ) Tj ET Q q 0 0 0 rg BT 179.74 209.20 Td (formation ) Tj ET Q q 0 0 0 rg BT 228.65 209.20 Td (transactions.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 190.00 Td (RENT) Tj ET Q q 0 0 0 rg BT 78.63 190.00 Td (ABLE ) Tj ET Q q 0 0 0 rg BT 112.35 190.00 Td (SQUARE ) Tj ET Q q 0 0 0 rg BT 163.20 190.00 Td (FEET) Tj ET Q q 0 0 0 rg BT 190.09 190.00 Td (: ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 197.53 190.00 Td (Rentable ) Tj ET Q q 0 0 0 rg BT 245.35 190.00 Td (square ) Tj ET Q q 0 0 0 rg BT 282.76 190.00 Td (feet ) Tj ET Q q 0 0 0 rg BT 304.89 190.00 Td (includes ) Tj ET Q q 0 0 0 rg BT 349.03 190.00 Td (all ) Tj ET Q q 0 0 0 rg BT 363.82 190.00 Td (enclosed ) Tj ET Q q 0 0 0 rg BT 411.63 190.00 Td (self ) Tj ET Q q 0 0 0 rg BT 432.53 190.00 Td (storage ) Tj ET Q q 0 0 0 rg BT 473.00 190.00 Td (units ) Tj ET Q q 0 0 0 rg BT 500.02 190.00 Td (but ) Tj ET Q q 0 0 0 rg BT 519.09 190.00 Td (excludes ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 176.80 Td (commercial, ) Tj ET Q q 0 0 0 rg BT 111.84 176.80 Td (residential, ) Tj ET Q q 0 0 0 rg BT 168.09 176.80 Td (and ) Tj ET Q q 0 0 0 rg BT 189.50 176.80 Td (covered ) Tj ET Q q 0 0 0 rg BT 231.69 176.80 Td (parking ) Tj ET Q q 0 0 0 rg BT 270.83 176.80 Td (space.) Tj ET Q BT /F3 11.00 Tf ET q 0 0 0 rg BT 49.50 157.60 Td (SAME ) Tj ET Q q 0 0 0 rg BT 84.72 157.60 Td (ST) Tj ET Q q 0 0 0 rg BT 98.57 157.60 Td (ORE ) Tj ET Q q 0 0 0 rg BT 125.85 157.60 Td (PORTFOLIO: ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 197.11 157.60 Td (Same ) Tj ET Q q 0 0 0 rg BT 229.28 157.60 Td (Store ) Tj ET Q q 0 0 0 rg BT 259.00 157.60 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 301.57 157.60 Td (comprises ) Tj ET Q q 0 0 0 rg BT 355.13 157.60 Td (only ) Tj ET Q q 0 0 0 rg BT 378.74 157.60 Td (those ) Tj ET Q q 0 0 0 rg BT 409.09 157.60 Td (properties ) Tj ET Q q 0 0 0 rg BT 461.44 157.60 Td (owned ) Tj ET Q q 0 0 0 rg BT 497.29 157.60 Td (and ) Tj ET Q q 0 0 0 rg BT 519.08 157.60 Td (operated ) Tj ET Q BT /F2 11.00 Tf ET q 0 0 0 rg BT 49.50 144.40 Td (for ) Tj ET Q q 0 0 0 rg BT 65.39 144.40 Td (the ) Tj ET Q q 0 0 0 rg BT 83.74 144.40 Td (entirety ) Tj ET Q q 0 0 0 rg BT 122.87 144.40 Td (of ) Tj ET Q q 0 0 0 rg BT 135.10 144.40 Td (the ) Tj ET Q q 0 0 0 rg BT 153.45 144.40 Td (applicable ) Tj ET Q q 0 0 0 rg BT 206.04 144.40 Td (periods ) Tj ET Q q 0 0 0 rg BT 245.17 144.40 Td (presented.) Tj ET Q /GS0 gs q 57.00 0 0 47.00 50.00 732.50 cm /I20 Do Q endstream endobj 43 0 obj <> /View <>>>>> endobj 44 0 obj <> /View <>>>>> endobj 45 0 obj <> endobj 46 0 obj <> stream xy\E7~n{{w'd'52 HaGPPA!"" b-&h,+TLy?:uk?uΩoH""?W~.Xv3&rm 2\jMgwm'CڴzlycǏ\ rBjx\DsV@{twocmC{Iwl11z:1m!t-\q3D.:yz'Wɨp[_F=>E"ǢӦ/|K&_~=!wn-az3¦h$7,ؑ2Oo_eSFLlk}Fg[F>|;