Life Storage, Inc. Announces Dividend on Common Stock

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BUFFALO, N.Y.–(BUSINESS WIRE)–$LSI #LifeStorage–The Board of Directors of Life Storage, Inc. (NYSE:LSI) (formerly Sovran
Self Storage, Inc.), 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 4.4%. The dividend will be paid on October
26, 2016 to Shareholders of record on October 14, 2016.

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, Vice President
Investor
Relations & Community Affairs
716-650-6115