MUFG becomes substantial holder in National Storage REIT

Mitsubishi UFJ Financial Group, Inc. (MUFG) became a substantial holder in National Storage REIT on December 9, 2025. The total voting power held by MUFG, including its associates, is 5.07%, representing 71,124,831 fully paid stapled securities.

The relevant interests held by MUFG stem from its 100% voting power in First Sentier Group Limited and over 20% voting power in Morgan Stanley. These holdings translate into significant direct and indirect control over various blocks of National Storage REIT securities.

Transactions from August to December 2025 involved numerous acquisitions of fully paid stapled securities, with consideration ranging from small cash amounts to significant non-cash transactions. Non-cash considerations included shares borrowed by entities controlled by Morgan Stanley and First Sentier Group Limited. The largest individual cash considerations were over AUD 2 million.