KSS Information Memorandum 2021

Like-For-Like Performance Comparisons Five Year Same Store Graph

Kennards operating performance is best illustrated on a like-for-like comparison over a number of years. KSS has 38 storage centres which has under 2% variation in rentable space for 5 years. The following graphs illustrate the changes in operating performance for this data group. Covid-19 - It is notable to observe the impact of Covid-19 government enforced changes and the impact of demand in 2020-21.

Revenue Management The company has a sophisticated approach to Revenue Management.

There are over 70,000 storage units with nearly 10,000 different unit types to individually price. Street rates are adjusted every day with approximately 4,700 price changes being made. These price changes are driven by historical patterns, anticipated demand, move-out activity and competitor behaviour. Existing customer prices are adjusted 7 months after move-in, then every 12 months. The increase amount is determined by a number of factors. The agility of the approach allows us to quickly respond to business conditions for optimum revenue.

Same Store Occupancy: ClassYrs 5

87.5

86.5

85.5

84.5

83.5

82.5

1

2

3

4

FYE2017 FYE2018 FYE2019 FYE2020 FYE2021

85.7 85.1 84.5 83.9 84.7

85.8 85.9 84.9 84.4 87.2

85.8 84.7 85.3 84.3 87.9

85.8 84.4 84.4 82.9

●FYE means Financial Year End ●Quater means FY Quarter ●Occupancy is reported as at Quarter closing ●Occupancy = Rented SQM / Total SQM as % ●ClassYrs is the grouping of stores by consecu�ve years where MLA moveoment is within a -/+2% variance ●ClassYrs 5 consists of 38 stores ●Same Store means data demonstrated is based on the same stores determined by ClassYrs

Same Store REVPOM: ClassYrs 5

63

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