StorageVault Finalizes and Receives Additional Expropriation Compensation, and Grows Third Party Management Platform

Executive Summary

• StorageVault Canada Inc. recorded an additional $15 million gain from the expropriation of a property, bringing total realized gains to approximately $30 million.
• The company has begun managing two new third‑party storage facilities in high‑visibility Toronto locations, expanding its urban footprint.
• Management highlighted that these developments validate asset value and demonstrate growth capability within the core market.

Key Details

• Additional gain of $15 M recognized related to previously disclosed expropriation; cumulative realized gain now ~$30 M (initial $15 M recorded in Q2 2023).
• Confidentiality agreements limit further disclosure of the expropriated property details.
• Commenced third‑party management of two new properties:
• One located in downtown Toronto.
• One at the intersection of Highway 401 and Highway 400 in the Greater Toronto Area.
• These additions enhance StorageVault’s presence in key urban markets and expand its third‑party management platform.
• Management quote emphasizing asset value validation, operational growth, and leadership in the industry.

Notable Quotes

“These developments further validate the significant value of our assets, as supported by recent private market transactions, and demonstrate our ability to grow operationally in core markets… they also reflect the strength of our third‑party management platform; a best‑in‑class offering that consistently drives superior performance.” – Management Team.