Pinnacle Investment Management Group reduces stake in National Storage REIT

Pinnacle Investment Management Group Limited and its subsidiaries reported a change in their substantial holding in National Storage REIT. As of September 19, 2025, their voting power has decreased to 10.02% from the previous 11.24% reported on September 1, 2025. This reduction represents a shift from 156,382,528 votes to 140,666,335 votes in ordinary fully paid securities.

The change resulted from a series of transactions between August 28, 2025, and September 19, 2025, involving both purchases and sales. Significant sales included A$10,185,467.18 for 4,235,000 shares on September 12, 2025; A$5,997,081.97 for 2,474,586 shares on September 15, 2025; and A$7,351,037.67 for 3,097,401 shares on September 19, 2025. An in-specie transfer out of 5,649,236 shares also occurred on September 15, 2025.

Despite the reduction, Pinnacle Investment Management Group Limited remains a substantial holder. The interests are held through various registered holders including Citibank (39,900,921 votes), Northern Trust (32,096,090 votes), and National Nominees Ltd (13,397,464 votes), among others.