Extra Space Storage Announces Executive Team Restructuring

Extra Space Storage Inc.

announced today the restructuring of its executive management team. In the third quarter of 2012, Kenneth M. Woolley, founder, current member and former Chairman of the Board of Directors and former Chief Executive Officer, will assume the role of Executive Chairman of the Board of Directors and Chief Investment Officer of the Company. Mr. Woolley has been involved in the self-storage industry for 34 years and has extensive background in self-storage acquisition, development, joint-venture structuring and operations. Mr. Woolley is returning from a three year sabbatical volunteer mission for the Church of Jesus Christ of Latter-day Saints. Spencer F. Kirk will continue to serve as Chief Executive Officer and as a member of the Board of Directors of the Company.