Exhibit 3.1
PUBLIC STORAGE
ARTICLES
SUPPLEMENTARY
PUBLIC STORAGE, a Maryland real estate investment trust (the Trust), hereby certifies to the
State Department of Assessments and Taxation of Maryland that:
FIRST: Under a power contained in Article VI of the articles
of amendment and restatement of the Trusts declaration of trust (the Declaration of Trust), the Board of Trustees, by duly adopted resolutions, reclassified and designated all of the authorized (but currently unissued)
shares of (a) 6.125% Cumulative Preferred Shares, Series A, $0.01 par value per share, (b) 7.125% Cumulative Preferred Shares, Series B, $0.01 par value per share, (c) 6.600% Cumulative Preferred Shares, Series C, $0.01 par value per share, (d)
6.180% Cumulative Preferred Shares, Series D, $0.01 par value per share, (e) 6.750% Cumulative Preferred Shares, Series E, $0.01 par value per share, (f) 6.450% Cumulative Preferred Shares, Series F, $0.01 par value per share, (g) 7.000% Cumulative
Preferred Shares, Series G, $0.01 par value per share, (h) 6.950% Cumulative Preferred Shares, Series H, $0.01 par value per share, (i) 7.250% Cumulative Preferred Shares, Series I, $0.01 par value per share, (j) 7.250 % Cumulative Preferred
Shares, Series J, $0.01 par value per share, (k) 7.250% Cumulative Preferred Shares, Series K, $0.01 par value per share, (l) 6.750% Cumulative Preferred Shares, Series L, $0.01 par value per share, (m) 6.625% Cumulative Preferred Shares, Series M,
$0.01 par value per share, (n) 6.400% Cumulative Preferred Shares, Series NN, $0.01 par value per share, (o) 7.500% Cumulative Preferred Shares, Series V, $0.01 par value per share, (p) 6.500% Cumulative Preferred Shares, Series W, $0.01 par value
per share, (q) 6.450% Cumulative Preferred Shares, Series X, $0.01 par value per share, (r) 6.850% Cumulative Preferred Shares, Series Y, $0.01 par value per share, (s) 6.250% Cumulative Preferred Shares, Series Z, $0.01 par value per share, (t)
7.00% Cumulative Preferred Shares, Series N, $0.01 par value per share, (u) 6.875% Cumulative Preferred Shares, Series O, $0.01 par value per share, (v) 6.5% Cumulative Preferred Shares, Series P, $0.01 par value per share, (w) 6.5% Cumulative
Preferred Shares, Series Q, $0.01 par value per share, (x) 6.35% Cumulative Preferred Shares, Series R, $0.01 par value per share, (y) 5.90% Cumulative Preferred Shares, Series S, $0.01 par value per share, (z) 5.750% Cumulative Preferred Shares,
Series T, $0.01 par value per share, (aa) 5.625% Cumulative Preferred Shares, Series U, $0.01 par value per share, (bb) 5.375% Cumulative Preferred Shares, Series V, $0.01 par value per share, (cc) 5.20% Cumulative Preferred Shares, Series W, $0.01
par value per share, (dd) 5.20% Cumulative Preferred Shares, Series X, $0.01 par value per share, (ee) 6.375% Cumulative Preferred Shares, Series Y, $0.01 par value per share, (ff) 6.00% Cumulative Preferred Shares, Series Z, $0.01 par value per
share, (gg) 5.875% Cumulative Preferred Shares, Series A, $0.01 par value per share, (hh) 5.40% Cumulative Preferred Shares, Series B, $0.01 par value per share, (ii) 5.125% Cumulative Preferred Shares, Series C, $0.01 par value per share, (jj)
4.95% Cumulative Preferred Shares, Series D, $0.01 par value per share, and (kk) 4.90% Cumulative Preferred Shares, Series E, $0.01 par value per share (such series collectively, the Redeemed Preferred Shares), as preferred shares
of beneficial interest, $0.01 par value per share, with the preferences, conversion and other rights, voting powers, restrictions, limitations as to dividends and other distributions, qualifications, and terms and conditions of redemption as set
forth in the Declaration of Trust.
SECOND: Under a power contained in Article VI of the Declaration of Trust, the Board of
Trustees, by duly adopted resolutions, reclassified and designated all of the authorized (but currently unissued) shares of (a) Equity Shares, Series A, $0.01 par value per share (the Series A Equity Shares) and
(b) Equity Shares, Series AAA, $0.01 par value per share (the Series AAA Equity Shares), as equity shares of beneficial interest, $0.01 par value per share, with the preferences, conversion and other rights, voting powers,
restrictions, limitations as to dividends and other distributions, qualifications, and terms and conditions of redemption as set forth in the Declaration of Trust.