National Storage Affiliates Trust Common Shares of Beneficial Interest Watch

from S-3ASR 38 pages Dated , 20__ National Storage Affiliates Trust as Issuer and U.S. Bank Trust Company, National Association, as Trustee Indenture

from 10-K 34 pages Description of the Registrant’s Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934

from S-3ASR 37 pages Dated , 20__ National Storage Affiliates Trust as Issuer and U.S. Bank National Association, as Trustee Indenture

from 10-K 21 pages Description of the Registrant’s Securities Registered Pursuant to Section 12 of the Securities Exchange Act of 1934

from S-3ASR 39 pages Dated , 20__ National Storage Affiliates Trust as Issuer and U.S Bank National Association, as Trustee Indenture

from 8-A12B 3 pages National Storage Affiliates Trust Important Notice

from S-3/A 39 pages Dated , 20__ National Storage Affiliates Trust as Issuer and U.S Bank National Association, as Trustee Indenture

from S-11/A 2 pages Countersigned: Broadridge Corporate Issuer Solutions, Inc. 1717 Arch St., Ste. 1300, Philadelphia, Pa 19103 Transfer Agent By: Authorized Signature Number Shares Dated: This Certifies That: Is the Owner of Proof Proof Formed Under the Laws of the State of Maryland (The "Trust") Transferable on the Books of the Trust by the Holder Hereof in Person or by Its Duly Authorized Attorney Upon Surrender of This Certificate Duly Endorsed or Assigned. This Certificate and the Shares Represented Hereby Are Subject to the Laws of the State of Maryland, and to the Declaration of Trust and Bylaws of the Trust, as Now or Hereafter Amended. This Certificate Is Not Valid Until Countersigned by the Transfer Agent. Witness the Facsimile Seal of the Trust and the Facsimile Signatures of Its Duly Authorized Officers. C O M M O N S H a R E S Executive Vice President, Chief Financial Officer Treasurer and Secretary See Reverse for Important Notice on Transfer Restrictions and Other Information Fully Paid and Non-Assessable Common Shares of Beneficial Interest of $0.01 Par Value Per Share of National Storage Affiliates Trust Proof Cusip 637870 10 6 Chief Executive Officer

from S-11/A 2 pages Countersigned: Broadridge Corporate Issuer Solutions, Inc. 1717 Arch St., Ste. 1300, Philadelphia, Pa 19103 Transfer Agent By: Authorized Signature Number Shares Dated: This Certifies That: Is the Owner of Formed Under the Laws of the State of Maryland (The "Trust") Transferable on the Books of the Trust by the Holder Hereof in Person or by Its Duly Authorized Attorney Upon Surrender of This Certificate Duly Endorsed or Assigned. This Certificate and the Shares Represented Hereby Are Subject to the Laws of the State of Maryland, and to the Declaration of Trust and Bylaws of the Trust, as Now or Hereafter Amended. This Certificate Is Not Valid Until Countersigned by the Transfer Agent. Witness the Facsimile Seal of the Trust and the Facsimile Signatures of Its Duly Authorized Officers. C O M M O N S H a R E S Chief Financial Officer Chief Executive Officer See Reverse for Important Notice on Transfer Restrictions and Other Information Fully Paid and Non-Assessable Common Shares of Beneficial Interest of $0.01 Par Value Per Share of National Storage Affiliates Trust Proof