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uroclear System, and Clearstream .5 a Banking, nano anon yme, on or about , 2015. o w CO 0 Joint Book-Running Managers E = as Morgan Stanley UBS Investment Bank Keefe, Bruyette & Woods A &Mel Company • IL' I— co The dale of this prospectus supplement is , 2015, EFTA00607796 You should rely only on th
e any separate public trading market for the shares of the Series B Preferred Stock except as represented by the depositary shares. Transfer Agent, Registrar, Dividend Disbursing Agent and Redemption Agent American Stock Transfer & Trust Company. LLC will be the transfer agent. registrar, dividend disburs
itory Trust Company. against payment on or about June , 2016. See "Underwriting." BofA Merrill Lynch Joint Book-Running Managers Morgan Stanley UBS Investment Bank The date of this prospectus supplement is _tune , 2016. EFTA00618204 TABLE OF CONTENTS Prospectus Supplement Page About This Prospectus Suppl
A Preference Shares. 5-5 EFTA00618213 Table of Contents Form of Depositary Shares Representing the Series A Preference Shares Transfer Agent, Registrar, Dividend Disbursing Agent and Redemption Agent The depositary shares representing the Series A Preference Shares will be represented by one or m
neficial Interest, Series C N Public Storage. PROSPECTUS SUPPLEMENT May , 2016 Joint Book-Running Managers BofA Merrill Lynch Morgan Stanley UBS Investment Bank Wells Fargo Securities EFTA00595921
s the holder of Preferred Shares. Neither the Preferred Shares Depositary nor any Depositary's Agent (as defined in the Deposit Agreement), nor the Registrar (as defined in the Deposit Agreement) nor the Company assumes any obligation or will be subject to any liability under the Deposit Agreement to hold
he book-entry delivery system of The Depository Trust Company on or about , 2017. Joint Book-Running Managers BofA Merrill Lynch Morgan Stanley UBS Investment Bank Wells Fargo Securities , 2017 EFTA00613223 TABLE OF CONTENTS Prospectus Supplement Page About This Prospectus Supplement viii Valuation
red Shares are first issued. Tax Treatment See "Material U.S. Federal Income Tax Considerations" in this prospectus supplement. Transfer Agent, Registrar and Paying Agent American Stock Transfer & Trust Company, LLC. Risk Factors Investing in the Series A Preferred Shares involves risks. Before
Entities connected to both UBS Investment Bank and Registrar

Jeffrey Epstein
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United Kingdom
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United States
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Samantha Power
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Prince Andrew
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George W. Bush
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Donald Trump
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Virginia Giuffre
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Bradley Edwards
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Alan Dershowitz
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New York
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Eric Holder
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Julie K. Brown
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Condoleezza Rice
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Georgina Chapman
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Stephen Hawking
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Morgan Stanley
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