Extra Space Storage Inc美股招股说明书(2025-08-07版)

4.950% Senior Notes due 2033guaranteed by Extra Space Storage Inc. Extra Space Storage LP (the “operating partnership”) is offering $800,000,000 aggregate principal amount of its 4.950% Senior Notes due 2033 (the “notes”).Interest on the notes will be paid semi-annually in arrears on January15 and July15 of each year, beginning on January15, 2026. The notes will mature on January15,2033. The operating partnership may redeem the notes prior to maturity at its option and sole discretion, in whole or in part, at any time and from time to time, at theapplicable redemption price described in this prospectus supplement under the caption “Description of Notes—The operating partnership’s redemption rights.” The notes will be the operating partnership’s senior unsecured obligations and will rank equally in right of payment with all of its other existing and future seniorunsecured indebtedness. The notes will be effectively subordinated in right of payment to the operating partnership’s existing and future mortgage indebtedness and othersecured indebtedness (to the extent of the value of the collateral securing such indebtedness). In addition, the notes will be effectively subordinated in right of payment toall existing and future indebtedness and other liabilities, whether secured or unsecured, of the operating partnership’s subsidiaries and all existing and future preferredequity not owned by the operating partnership, if any, in the operating partnership’s subsidiaries. The notes will be fully and unconditionally guaranteed by certain of the operating partnership’s parent companies, including its ultimate parent, Extra SpaceStorage Inc. (the “Company”), the beneficial owner of the sole general partner of the operating partnership. The Company and the other guarantors have no materialoperations separate from the operation of the operating partnership and no material assets other than their respective investments, directly or indirectly, in the operatingpartnership. The notes are a new issue of securities with no established trading market. We do not intend to apply for listing of the notes on any securities exchange or forquotation of the notes on any automated dealer quotation system. Investing in the notes involves risks. See “Risk Factors” beginning on pageS-5of this prospectus supplement and the risks set forth underthe caption “Risk Factors” included in our most recent Annual Report onForm10-Kand subsequent Quarterly Reports on Form10-Qfiledwith the Securities and Exchange Commission (“SEC”), which are incorporated by reference herein, for certain risks relevant to an investmentin the notes. Neither the SEC nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement or theaccompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense. Table of Contents You should rely only on the information contained in, or incorporated by reference into, this prospectus supplement and theaccompanying prospectus. We have not, and the underwriters have not, authorized anyone to provide you with different information. If anyoneprovides you with different or inconsistent information, you should not rely on it. We are not, and the underwriters are not, making an offer tosell these securities in any jurisdiction where the offer or sale is not permitted. You should not assume that the information contained in thisprospectus supplement, the accompanying prospectus or the documents incorporated by reference herein and therein is accurate as of any dateother than the date on the front of this prospectus supplement or the accompanying prospectus. TABLE OF CONTENTS PROSPECTUS SUPPLEMENT SummaryRisk FactorsForward-Looking StatementsUse of ProceedsDescription of NotesUnderwritingLegal MattersExpertsInformation Incorporated by Reference PROSPECTUS Extra Space StorageRisk FactorsGuarantor DisclosuresAbout This ProspectusWhere You Can Find More InformationIncorporation of Certain Documents by ReferenceForward-Looking StatementsUse of ProceedsDescription of Common StockDescription of Preferred StockDescription of Depositary SharesDescription of WarrantsDescription of RightsDescription of UnitsDescription of Debt Securities and GuaranteesGlobal SecuritiesRestrictions on Ownership and TransferDescription of the Partnership Agreement of Extra Space Storage LPCertain Provisions of Maryland Law and of Our Charter and BylawsU.S. Federal Income Tax ConsequencesSelling Security HoldersPlan of DistributionLegal MattersExperts Table of Contents SUMMARY This document is in two parts. The first part is this prospectus supplement, which describes the specific terms of this offering. The secondpart, which is the accompanying prospectus, gives more general information, some of which may not apply to this offering. If the description of thisoffering varies between the prospectus supplement and the accompanying prospectus, you should