Kennards Self Storage Asset Management Overview

Revenue Management Systems We have established rules and practices that grow rents from existing customers and new customers based on tenure and occupancy. The yield optimisation principles support overall revenue growth for the storage centre. Our systems are sophisticated and driven to target the best candidates of customers, or spaces to raise rents to optimise revenue for the owners of the property. Revenue Management is driven by technological systems that analyse our substantial database to consider occupancy, tenure and local competition issues on a daily basis. This provides continuous real time data to apply appropriate rent increases to select customer groups and types. Exceptions Reporting Our Information Technology system, known as ‘Warden’, constantly searches for anomalies and exceptions in the data. This reveals skill deficiencies and also fraud to enable deeper investigation or training, as necessary. Warden is a proprietary internally developed programme, tailored to our software and business requirements. Warden interrogates the data in relation to discounts, rentals, move-ins, cash sales, rent and fees waived, payment reversals and charges to lettable space. Financial Account Management Our Management Agreement provides a complete Financial Account Management service. We will approve and pay invoices within agreed limits. Financial Benchmarks One of the cost principles of profit maximisation in a storage centre is the benchmarking of its performance. The Kennards Self Storage Key Performance Indicators (KPI’s) are a vital tool in our management. They are a set of critical areas that are closely measured and managed. We also reward our people through a bonus when high level benchmarks are achieved. The KPI’s target performance in regards to storage rents, occupancy, delinquency, merchandise and insurance. Reporting The following reports will be provided: Monthly Operating Reports; comprehensively illustrating occupancy, incomes, enquiries, delinquents, merchandise sales and so on. This is also benchmarked against Company Averages.

• Quarterly Profit and Loss • Annual Profit and Loss • Annual Forecasts

Our economies of scale means we enjoy purchasing power advantages with suppliers. All investors in our group receive the full benefit of these savings. This further improves profitability and investor returns.