Life Storage, Inc. Announces Dividend on Common Stock

BUFFALO, N.Y.–(BUSINESS WIRE)–$LSI #LifeStorage–The Board of Directors of Life Storage, Inc. (NYSE:LSI), a self storage
real estate investment trust (REIT), announced today the Company’s
quarterly dividend of $0.95 per share of common stock. The annualized
dividend of Life Storage, Inc. is $3.80 per share which, based on
yesterday’s closing share price, equates to an annual rate of
approximately 4.5%. The dividend will be paid on January 26, 2017 to
Shareholders of record on January 17, 2017.

ABOUT LIFE STORAGE, INC:

Life Storage, Inc. is a self-administered and self-managed equity REIT
that is in the business of acquiring and managing self storage
facilities. The Company operates more than 650 self storage facilities
in 29 states under the names Life Storage and Uncle Bob’s Self Storage.
For more information, visit http://invest.lifestorage.com/.

Contacts

Life Storage, Inc.
Diane Piegza, 716-650-6115
Vice President
Investor Relations & Community Affairs