Effective as of July 6, 2024, certain wholly owned subsidiaries (the ?Subsidiaries?) of Global Self Storage, Inc. (the ?Company?) entered into a second amendment to the revolving credit loan agreement (the ?Loan Agreement?) between the Subsidiaries and The Huntington National Bank, successor by merger to TCF National Bank (the ?Lender?). Under the Loan Agreement, the Subsidiaries are borrowing from the Lender in the principal amount of up to $15 million pursuant to a second amended and restated promissory note (the ?Promissory Note?). The Promissory Note bears an interest rate equal to 3.00% over the Secured Overnight Financing Rate and is due to mature on July 6, 2027.

The obligations under the Loan Agreement are secured by certain real estate assets owned by the Subsidiaries. The Company entered into a second amended and restated guaranty of payment effective as of July 6, 2024 (the ?Guaranty,? and together with the Loan Agreement, the Promissory Note and related instruments, the ?Loan Documents?) to guarantee the payment to Lender of certain obligations of the Subsidiaries under the Loan Agreement.

The Loan Documents require the Subsidiaries and the Company to comply with certain covenants, including, among others, customary financial covenants. The Lender may accelerate amounts outstanding under the Loan Documents upon the occurrence of an Event of Default (as defined in the Loan Agreement) including, but not limited to, the failure to pay amounts due to the Lender or commencement of bankruptcy proceedings. The Company and the Subsidiaries are paying customary fees and expenses in connection with their entry into the Loan Documents.