National Storage withdraws executive performance rights resolution

National Storage REIT (ASX: NSR) announced on October 17, 2025, the withdrawal of Item 7 from the notice of meetings for its annual general meeting, scheduled for October 22, 2025. This item pertained to a proposed resolution titled "Approval to issue GRIP Performance Rights to Mr Andrew Catsoulis (Company and NSPT)." The decision follows feedback from various stakeholders and further consideration by the boards of National Storage Holdings Limited and National Storage Financial Services Limited.

The withdrawal reflects a desire to further review the structure of the proposed incentive arrangements for Mr. Andrew Catsoulis. The boards stated their commitment to ensuring executive remuneration aligns with long-term value creation for securityholders and the retention of key executives. All other items outlined in the notice of meetings, dated September 18, 2025, remain unchanged and will proceed as scheduled.

The withdrawal of Item 7 will not impact the validity of proxy forms already submitted or any proxy votes.