IRON MOUNTAIN INC files 8-K: results of operations

Item 2.02. Results of Operations and Financial Condition.

On November 5, 2026, Iron Mountain Incorporated, or the Company, issued an earnings press release and supplemental financial information for the quarter ended September 30, 2026. In addition, the Company will be using a slide presentation during its earnings conference call. Copies of the earnings press release, slide presentation and supplemental financial information are furnished as Exhibits 99.1, 99.2 and 99.3, respectively, hereto and posted on the Company’s website, www.ironmountain.com, under “Investors.”

Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing.

FOR IMMEDIATE RELEASE Iron Mountain Reports Third Quarter 2026 Results • Achieves record third quarter revenue of $2.0 billion, an increase of 13.5% on a reported basis and 12.8% on an organic basis • Growth businesses of data center, digital, and asset lifecycle management (ALM) collectively grew more than 30% year over year in the third quarter • Data center leasing of 102 megawatts in the third quarter for a total of 137 megawatts year to date • Q3 2026 Net Income of $129 million, as compared to Net Income of $86 million in Q3 2025 • Delivers record quarterly Adjusted EBITDA of $748 million, an increase of 13.3% with a strong Adjusted EBITDA margin of 37.6%, up nearly 200 basis points sequentially • Generates all-time high quarterly AFFO of $458 million, or $1.53 per share, an increase of 17% compared to last year • Raises full year 2026 financial guidance driven by continued strong operational performance across the business • Increases quarterly dividend per share by 15% based on continued strong growth in AFFO PORTSMOUTH, N.H. – November 5, 2026 – Iron Mountain Incorporated (NYSE: IRM), a global leader in information management services, announces financial results for the third quarter of 2026.

“We are pleased to report another record performance in the third quarter that exceeded our expectations. Our outstanding results continue to reflect the combined strength of our physical records storage and growth businesses, supported by our team's commitment to customer value creation and disciplined operational execution,” stated William L. Meaney, President and CEO of Iron Mountain. “Our business and outlook remains strong with a clear view for sustained long-term growth. We have signed 137 megawatts of new data center leases year to date and our cross-selling efforts in ALM and Digital are accelerating, all of which supports significant future growth. Based on our strong 2026 growth and continued positive outlook, we are pleased to increase the dividend by 15%.”

Financial Performance Highlights for the Third Quarter of 2026 ($ in millions, except per share data) Three Months Ended Y/Y % Change Year to Date Y/Y % Change 9/30/26 9/30/25 Reported $ Constant Fx 9/30/26 9/30/25 Reported $ Constant Fx Storage Rental Revenue $1,150 $1,033 11% 11% $3,379 $2,991 13% 12% Service Revenue $841 $721 17% 16% $2,577 $2,067 25% 23% Total Revenues $1,991 $1,754 13% 13% $5,956 $5,059 18% 16% Net Income (Loss) $129 $86 49% $384 $59 n/a Reported EPS $0.41 $0.28 46% $1.23 $0.19 n/a Adjusted EPS $0.64 $0.54 19% $1.82 $1.48 23% Adjusted EBITDA $748 $660 13% 13% $2,183 $1,869 17% 16% Adjusted EBITDA Margin 37.6% 37.6% 0 bps 36.7% 36.9% -20 bps AFFO $458 $393 17% $1,317 $1,111 19% AFFO per share $1.53 $1.32 16% $4.40 $3.73 18% 1

• Total reported revenues for the third quarter were $2.0 billion, compared with $1.8 billion in the third quarter of 2025, an increase of 13.5%. Excluding the impact of foreign currency exchange ("Fx"), total reported revenues increased 13.3% compared to the prior year, driven by an 11.2% increase in storage rental revenue and a 16.3% increase in service revenue. Year to date, total reported revenues increased 17.7%, or 16.5% excluding the impact of Fx. • Net Income for the third quarter was $128.9 million, compared with $86.2 million in the third quarter of 2025, driven primarily by increased Operating Income. Year to date, Net Income was $384.0 million, compared with $59.1 million in 2025. • Adjusted EBITDA for the third quarter was $748.0 million, compared with $660.4 million in the third quarter of 2025, an increase of 13.3%.

On a constant currency basis, Adjusted EBITDA increased by 13.0% in the third quarter, compared to the third quarter of 2025, driven by increased revenue and Adjusted EBITDA across each of our segments and improved operating leverage from our continued transformation activities. Year to date, Adjusted EBITDA increased 16.8%, or 15.7% excluding the impact of Fx. • FFO (Normalized) per share was $1.05 for the third quarter, compared with $0.93 in the third quarter of 2025, an increase of 12.9%. Year to date, FFO (Normalized) per share was $3.03, compared with $2.59 in 2025, or an increase of 17.0%. • AFFO was $458.4 million for the third quarter, compared with $393.3 million in the third quarter of 2025, an increase of 16.6% driven by improved Adjusted EBITDA.

Year to date, AFFO was $1,317.3 million compared with $1,111.5 million, or an increase of 18.5%. • AFFO per share was $1.53 for the third quarter, compared with $1.32 in the third quarter of 2025, an increase of 15.9%. Year to date, AFFO per share was $4.40, compared to $3.73 in 2025, or an increase of 18.0%. Dividend On November 5, 2026, Iron Mountain's Board of Directors declared a quarterly cash dividend of $0.993 per share of common stock for the fourth quarter, representing an increase of 15%. The fourth quarter 2026 dividend is payable on January 6, 2027, to shareholders of record at the close of business on December 15, 2026.

Guidance Iron Mountain’s fourth quarter and full year 2026 guidance details are summarized in the table below. 2026 Guidance(1) ($ in millions, except per share data) Q4 2026 Full Year 2026 Approximate Y/Y % Change at Midpoint Total Revenue ~$2,030 $7,950 - $8,020 ~16% Adjusted EBITDA ~$780 $2,948 - $2,978 ~15% AFFO ~$473 $1,780 - $1,800 ~16% AFFO Per Share ~$1.57 $5.94 - $6.00 ~15% (1) Iron Mountain does not provide a reconciliation of non-GAAP measures that it discusses as part of its annual guidance or long term outlook because certain significant information required for such reconciliation is not available without unreasonable efforts or at all, including, most notably, the impact of exchange rates on Iron Mountain’s transactions, loss or gain related to the disposition of real estate and other income or expense.

Without this information, Iron Mountain does not believe that a reconciliation would be meaningful. 2

Q3 2026 Earnings Conference Call and Related Materials The conference call / webcast details, earnings presentation and supplemental financial information, which includes definitions of certain capitalized terms used in this release, are available on Iron Mountain’s Investor Relations website. About Iron Mountain Iron Mountain Incorporated (NYSE: IRM) partners with more than 240,000 customers across 61 countries, including approximately 95% of the Fortune 1000. We serve as the trusted guardians of what matters most, helping unlock what’s possible. By connecting physical, digital, and intelligent workflows, our lifecycle solutions help organizations realize enterprise value at scale. From complex challenges across information management and digital transformation to data security, data centers, and asset lifecycle management, we empower organizations to navigate an ever-changing landscape to prepare for tomorrow’s possibilities. Our longstanding commitment to safety, security, sustainability, and continuous innovation defines everything we do. To learn more about Iron Mountain, please visit www.IronMountain.com. Investor Relations Contacts: Mark Rupe Jake Carfagna SVP, Investor Relations Manager, Investor Relations Mark.Rupe@IronMountain.com Jacob.Carfagna@IronMountain.com (215) 402-7013 (414) 551-1147 Media Contact: media@ironmountain.com 3