Mr. Steven Scott reports

STORAGEVAULT TO ACQUIRE SIX ASSETS FOR $71.8 MILLION, EXCEEDING $200 MILLION COMPLETED AND ANNOUNCED TRANSACTIONS FOR 2025

Storagevault Canada Inc. has agreed to acquire six assets from five vendor groups for an aggregate purchase price of $71.8-million, subject to customary adjustments and due diligence conditions. Four of the transactions are arm's length, and one transaction consisting of two stores, totalling $42.0-million, is a related-party acquisition with Access Self Storage Inc. and its affiliate as the vendor. It is anticipated that the acquisitions will close in first quarter 2026. The assets are located in British Columbia, Alberta, Ontario and Quebec, and are complementary to Storagevault's existing portfolio. With the $132.6-million of completed year-to-date acquisitions, the total amount of completed and announced transactions exceeds $200-million.

Purchase price and payment

The aggregate purchase price is $71.8-million, subject to adjustments, and is payable with existing funds, first mortgages and potential share consideration. Access may elect to receive up to $2.0-million of the purchase price in Storagevault common shares, issued at a price equal to the greater of $5.87 per share (based on consensus net asset value) or the 10-day, prior to closing, volume-weighted average trading price.

Conditions precedent to the acquisitions

The obligations of Storagevault to complete the acquisitions are subject to conditions, including, but not limited to: satisfactory due diligence, obtaining first mortgage commitments and satisfactory environmental site assessment reports. The obligations of both Storagevault and the vendors to complete the closing of the acquisitions are subject to the satisfaction of other customary closing conditions.

Exemption from Multilateral Instrument 61-101

As Access is a non-arm's-length party to Storagevault, the related-party acquisition is considered a related-party transaction under MI 61-101 (Protection of Minority Security Holders in Special Transactions). Storagevault will rely on exemptions from the formal valuation and minority approval requirements of MI 61-101, in respect of the related-party acquisition, pursuant to Section 5.5(a) and Section 5.7(a) (Fair Market Value Not More Than 25 Per Cent of Market Capitalization) of MI 61-101.

Other information

There can be no assurance that the acquisitions will be completed as proposed or at all. No new insiders will be created, nor will any change of control occur, as a result of the acquisitions.

About Storagevault Canada Inc.

Storagevault currently owns and operates 265 storage locations across Canada. Storagevault owns 232 of these locations plus over 5,000 portable storage units representing over 13.2 million rentable square feet on 767 acres of land. Storagevault also provides last-mile storage and logistics solutions and professional record management services, such as document and media storage, imaging, and shredding services.

We seek Safe Harbor.