Additional Information and Where to Find It
This communication relates to the proposed transaction involving PS Business Parks. In connection with the proposed transaction, PS Business Parks will file
relevant materials with the U.S. Securities and Exchange Commission (the “SEC”), including PS Business Parks’ proxy statement on Schedule 14A (the “Proxy Statement”). This communication is not a substitute for the Proxy
Statement or any other document that PS Business Parks may file with the SEC or send to its stockholders in connection with the proposed transactions. BEFORE MAKING ANY VOTING DECISION, STOCKHOLDERS OF PS BUSINESS PARKS ARE URGED TO READ ALL
RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE PROXY STATEMENT, WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain the documents
(when available) free of charge at the SEC’s website, http://www.sec.gov. In addition, the documents (when available) may be obtained free of charge by accessing the Investor Relations section of PS Business Parks’ website at
https://ir.psbusinessparks.com or by contacting PS Business Parks’ Investor Relations by email at info@psbusinessparks.com.
Participants in the
Solicitation
PS Business Parks and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the
holders of Company common stock in respect of the proposed transaction. Information about the directors and executive officers of PS Business Parks is set forth in the proxy statement for PS Business Parks’ 2022 annual meeting of stockholders,
which was filed with the SEC on March 25, 2022, in PS Business Parks’ Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which was filed with the SEC on February 22,
2022 and in other documents filed by PS Business Parks with the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be
contained in the Proxy Statement and other relevant materials to be filed with the SEC in respect of the proposed transaction when they become available. Investors should read the Proxy Statement carefully when it becomes available before making any
voting or investment decisions.
Forward-Looking Statements
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities
laws. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words “may,” “will,” “believes,”
“anticipates,” “plans,” “expects,” “seeks,” “estimates,” “intends” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based
upon present expectations, estimates and projections and beliefs of and assumptions, involve uncertainty that could cause the actual results, performance or achievements to be materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements and are not guaranteed to occur. There are a number of important factors that could have a material adverse effect on our operations, future prospects and the proposed transaction, including
but not limited to: the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement between PS Business Parks and Blackstone’s affiliates; the failure to obtain the approval of PS
Business Parks’ stockholders of the proposed transaction or the failure to satisfy any of the other conditions to the completion of the proposed transaction; stockholder litigation in connection with the proposed transaction, which may affect
the timing or occurrence of the proposed transaction or result in significant costs of defense, indemnification and liability; the effect of the announcement of the proposed transaction on the ability of PS Business Parks to retain and hire key
personnel and maintain relationships with its tenants, vendors and others with whom it does business, or on its operating results and businesses generally; risks associated with the disruption of management’s attention from ongoing business
operations due to the proposed transaction; the ability to meet expectations regarding the timing and completion of the proposed transaction; and significant transaction costs, fees, expenses and charges. There can be no assurance that the proposed
transaction or any other transaction described above will in fact be consummated in the expected time frame, on the expected terms or at all. For further discussion of the factors that could affect outcomes, please refer to the risk factors set
forth in Item 1A of PS Business Parks’ Annual Report on Form 10-K filed by PS Business Parks with the SEC on February 22, 2022, and subsequent filings by PS Business Parks with the SEC. In light of
the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved. Any
forward-looking statement speaks only as of the date on which it is made. Moreover, we assume no obligation to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such
forward-looking statements, except as required by law. Investors should not place undue reliance upon these forward-looking statements. PS Business Parks claims the safe harbor protection for forward looking statements contained in the Private
Securities Litigation Reform Act of 1995.