Life Storage, Inc. Appoints Carol Hansell to the Board of Directors

Life Storage, Inc. (NYSE:LSI), a leading national owner and operator of self storage properties, today announced that Carol Hansell has been appointed to the Company's Board of Directors (the "Board"), effective immediately. The addition of Ms. Hansell to the Board follows an extensive search process to further enhance the perspective and expertise available to the Company. Ms. Hansell will serve on the Governance Committee of the Board.

"Carol brings significant experience advising both public and private companies on complex corporate governance and legal matters, and we are pleased to welcome her to the Board of Directors,” said Stephen R. Rusmisel, the Company’s Lead Independent Director. "Following a thorough Board process that included significant engagement with Life Storage shareholders, we are confident that Carol’s deep involvement in corporate governance policy and unique skillset make her a highly complementary addition.”

David Rogers, Chief Executive Officer of the Company commented, "Through this appointment, we are adding depth and new perspective to the already strong Life Storage Board that is overseeing the successful execution of our business strategy to drive sustainable, long-term value for shareholders."

"I am honored to join Life Storage’s Board of Directors,” said Ms. Hansell. "Effective corporate decision-making requires the ability to hear and consider different points of view, which results from people of different backgrounds and perspectives coming together. Life Storage has a strong portfolio of properties and I look forward to working alongside the Board and management team to continue to build upon the Company’s position in the self storage industry.”

Ms. Hansell brings more than 25 years of governance, government relations, legal and communications experience to the Life Storage Board. Ms. Hansell is the Founder and Senior Partner of Hansell LLP. Ms. Hansell is also a principal with Hansell McLaughlin Advisory Inc., which, together with Hansell LLP, delivers integrated legal, governance, government relations and communications advice. Ms. Hansell has served on boards of organizations across a variety of sectors including public companies, Crown corporations, financial institutions, healthcare, not-for-profit and arts organizations. She currently serves on the boards of Munich Reinsurance Company of Canada, the International Corporate Governance Network, and the American College of Governance Counsel. She is the Chair of the Business Law Advisory Council and serves on the Nominating Committee of the International Corporate Governance Network. She has served on the boards of the Bank of Canada, the Public Sector Pension Investment Board, Toronto East General Hospital, and SickKids Foundation, among others. She is a Fellow of the Institute of Corporate Directors and the American College of Governance Counsel.

ABOUT LIFE STORAGE, INC:

Life Storage, Inc. is a self-administered and self-managed equity REIT that is in the business of acquiring and managing self storage facilities. Located in Buffalo, New York, the Company operates more than 700 storage facilities in 29 states. The Company serves both residential and commercial storage customers with storage units rented by month. Life Storage consistently provides responsive service to its 375,000-plus customers, making it a leader in the industry. For more information visit http://invest.lifestorage.com/.

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