Wayne Johnson - 01 Apr 2025 Form 4 Insider Report for SmartStop Self Storage REIT, Inc. (SMA)

Footnote F1

Represents 3,000 shares of common stock acquired pursuant to a directed share program in connection with the Issuer's underwritten public offering, which shares were purchased at the public offering price.

Footnote F2

Represents 5,863.03 shares of Class A Common Stock previously reported as being owned by the Reporting Person.

Footnote F3

Includes securities previously reported as being owned by the Reporting Person adjusted for the one-for-four reverse stock split of the Issuer's issued and outstanding shares of Class A Common Stock and the one-for-four reverse unit split of the Operating Partnership's (as defined below) issued and outstanding partnership units (collectively, the "Reverse Equity Splits"). As a result of the Reverse Equity Splits, every four shares of the Issuer's Class A Common Stock and every four of the Operating Partnership's partnership units were automatically changed into one issued and outstanding share of Class A Common Stock or partnership units, as applicable, rounded to the nearest 1/1000th share or partnership unit.

Footnote F4

Represents long-term incentive plan units ("LTIP Units") of SmartStop OP, L.P., the Issuer's operating partnership (the "Operating Partnership"). Vested LTIP Units are convertible into Class A common units of the Operating Partnership ("Class A Common Units"). Class A Common Units are redeemable by the holder for, at the election of the Issuer, shares of the Issuer's Class A Common Stock on a one-for-one basis or the cash value of such shares.

Footnote F5

Represents 19,895 LTIP Units issued to the Reporting Person pursuant to the Issuer's incentive plan, which LTIP Units vest ratably over four years commencing on the first anniversary of the issuance thereof, subject to the Reporting Person's continued employment or service through each vesting date.

Footnote F6

Represents 9,424 LTIP Units issued to the Reporting Person pursuant to the Issuer's incentive plan, which LTIP Units vest ratably over four years commencing on the first anniversary of the issuance thereof, subject to the Reporting Person's continued employment or service through each vesting date.

Footnote F7

Represents 26,839.53 LTIP Units previously reported as being owned by the Reporting Person. The LTIP Units vest ratably over a four-year period commencing on December 31 of the year of grant, subject to the Reporting Person's continued employment or service through each vesting date.

Footnote F8

Represents 20,642.13 LTIP Units previously reported as being owned by the Reporting Person, which number is equal to 200% of the target number of LTIP Units to be issued upon vesting. The actual number of LTIP Units to be issued upon vesting can range from 0% to 100% of the number of LTIP Units reported, based on achievement of specified performance measures.

Footnote F9

Represents Class A-1 limited partnership units ("Class A-1 Units") of the Operating Partnership. Class A-1 Units are redeemable by the holder for, at the election of the Issuer, shares of Class A Common Stock of the Issuer on a one-for-one basis or the cash value of such shares.

Footnote F10

Represents 123,765.75 Class A-1 Units previously reported as being owned by the Reporting Person.