Public Storage

Our Board recognizes the growing importance of artificial intelligence (AI) in our business operations and is committed to ensuring its responsible and ethical use. The Board has delegated to the Audit Committee oversight of AI technology. The Company maintains an AI Governance Committee comprising representatives from our information technology and cybersecurity (including our Chief Information Security Officer), legal, enterprise risk, and human resources teams. The AI Governance Committee oversees and implements our AI Safe Usage Policy and is tasked with monitoring the development, deployment, and impact of AI technologies within the Company, including consideration of the risks and legal and regulatory considerations related thereto. The AI Governance Committee is overseen by our Chief Digital & Transformation, Chief Legal, and Chief Technology Officers. The Audit Committee receives periodic updates on AI initiatives, including assessments of potential risks, opportunities, and ethical considerations.