IRON MOUNTAIN INC files 8-K: results of operations

Item 2.02. Results of Operations and Financial Condition.

On April 30, 2026, Iron Mountain Incorporated, or the Company, issued an earnings press release and supplemental financial information for the quarter ended March 31, 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 First Quarter 2026 Results • Delivers record quarterly results across all key performance metrics • Achieves quarterly revenue of $1.9 billion, an increase of 21.6% on a reported basis and an increase of 18.6% excluding the effects of foreign exchange • Organic revenue growth of 17.2% year over year in the first quarter • Growth businesses of data center, digital, and asset lifecycle management (ALM) collectively grew more than 50% year over year in the first quarter • Q1 2026 Net Income of $149 million, as compared to $16 million in Q1 2025 • Delivers quarterly Adjusted EBITDA of $708 million, an increase of 22.1% compared to $580 million in Q1 2025 • Generates quarterly AFFO of $426 million, or $1.43 per share, an increase of 22% compared to last year • Increases 2026 financial guidance driven by strong operational performance across the business PORTSMOUTH, N.H. – April 30, 2026 – Iron Mountain Incorporated (NYSE: IRM), a global leader in information management services, announces financial results for the first quarter of 2026.

"We are pleased to report another quarter of exceptional results, with record performance that exceeded our expectations and showed strength across all key metrics. Our business is experiencing significant momentum, driven by outstanding performance in our growth businesses of data center, ALM, and digital and continued solid growth in our highly recurring physical records storage business. Our team's strong execution of our growth plans and commitment to delivering value to our customers through innovative solutions remain the foundation of our ongoing success," stated William L. Meaney, President and CEO of Iron Mountain. "Looking ahead, we are accelerating our cross-selling efforts in ALM and Digital and we are off to a strong start to the year in data center leasing, where we have already leased 32 megawatts through April.

Additionally, our pipeline momentum continues to build against the 400 megawatts of data center capacity energizing and available over the next 24 months, supporting our outlook for continued strong growth. With the trajectory we are on, together with our first quarter outperformance, we are pleased to raise our full-year financial guidance.” Financial Performance Highlights for the First Quarter of 2026 ($ in millions, except per share data) Three Months Ended Y/Y % Change 3/31/26 3/31/25 Reported $ Constant Fx Storage Rental Revenue $1,095 $948 15% 13% Service Revenue $841 $644 31% 28% Total Revenue $1,936 $1,593 22% 19% Net Income $149 $16 n/a Reported EPS $0.48 $0.05 n/a Adjusted EPS $0.60 $0.43 40% Adjusted EBITDA $708 $580 22% 19% Adjusted EBITDA Margin 36.6% 36.4% 20 bps AFFO $426 $348 22% AFFO per share $1.43 $1.17 22% 1

• Total reported revenues for the first quarter were $1.9 billion, compared with $1.6 billion in the first quarter of 2025, an increase of 21.6%. Excluding the impact of foreign currency exchange ("Fx"), total reported revenues increased 18.6% compared to the prior year, driven by an 12.6% increase in storage rental revenue and a 27.6% increase in service revenue. • Net Income for the first quarter was $149.0 million, compared with $16.2 million in the first quarter of 2025, primarily driven by increased Operating Income. • Adjusted EBITDA for the first quarter was $707.9 million, compared with $579.9 million in the first quarter of 2025, an increase of 22.1%.

On a constant currency basis, Adjusted EBITDA increased by 19.5% in the first quarter, compared to the first quarter of 2025, driven by increased revenue and Adjusted EBITDA across each of our segments and improved operating leverage coming from our continued improvement activities. • FFO (Normalized) per share was $0.99 for the first quarter, compared with $0.77 in the first quarter of 2025. • AFFO was $426.1 million for the first quarter, compared with $348.4 million in the first quarter of 2025, an increase of 22.3% driven by improved Adjusted EBITDA. • AFFO per share was $1.43 for the first quarter, compared with $1.17 in the first quarter of 2025. Dividend On April 30, 2026, Iron Mountain's Board of Directors declared a quarterly cash dividend of $0.864 per share of common stock for the second quarter.

The second quarter 2026 dividend is payable on July 3, 2026 to shareholders of record at the close of business on June 15, 2026.

Guidance Iron Mountain increased full year 2026 guidance; details are summarized in the table below. 2026 Guidance(1) ($ in millions, except per share data) Full Year 2026 New Approximate Y/Y % Change at Midpoint Previous Q2 2026 Approximate Y/Y % Change Total Revenue $7,825 - $7,925 ~14% $7,625 - $7,775 ~$1,965 ~15% Adjusted EBITDA $2,925 - $2,965 ~14% $2,875 - $2,925 ~$715 ~14% AFFO $1,735 - $1,755 ~13% $1,705 - $1,735 ~$418 ~13% AFFO Per Share $5.79 - $5.86 ~13% $5.69 - $5.79 ~$1.40 ~13% (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

Q1 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) is trusted by more than 240,000 customers in 61 countries, including approximately 95% of the Fortune 1000, to help unlock value and intelligence from their assets through services that transcend the physical and digital worlds. Our broad range of solutions address their information management, digital transformation, information security, data center and asset lifecycle management needs. Our longstanding commitment to safety, security, sustainability and innovation in support of our customers underpins everything we do. To learn more about Iron Mountain, please visit www.IronMountain.com. Investor Relations Contacts: Mark Rupe Erika Crabtree SVP, Investor Relations Manager, Investor Relations Mark.Rupe@ironmountain.com Erika.Crabtree@ironmountain.com (215) 402-7013 (617) 535-2845 Media Contact: media@ironmountain.com 3

Condensed Consolidated Balance Sheets (Unaudited; dollars in thousands) 3/31/2026 12/31/2025 ASSETS Current Assets: Cash and Cash Equivalents $250,710 $158,535 Accounts Receivable, Net 1,424,635 1,443,669 Prepaid Expenses and Other 367,738 332,779 Total Current Assets $2,043,083 $1,934,983 Property, Plant and Equipment: Property, Plant and Equipment $14,862,169 $14,457,335 Less: Accumulated Depreciation (5,023,371) (4,911,010) Property, Plant and Equipment, Net $9,838,798 $9,546,325 Other Assets, Net: Goodwill $5,274,865 $5,285,801 Customer and Supplier Relationships and Other Intangible Assets 1,231,051 1,269,607 Operating Lease Right-of-Use Assets 2,451,023 2,465,196 Other 647,995 623,107 Total Other Assets, Net $9,604,934 $9,643,711 Total Assets $21,486,815 $21,125,019 LIABILITIES AND EQUITY Current Liabilities: Current Portion of Long-term Debt $216,965 $216,074 Accounts Payable 782,546 710,662 Accrued Expenses and Other Current Liabilities 1,271,577 1,290,669 Deferred Revenue 386,446 402,091 Total Current Liabilities $2,657,534 $2,619,496 Long-term Debt, Net of Current Portion 16,886,016 16,215,885 Long-term Operating Lease Liabilities, Net of Current Portion 2,281,743 2,300,448 Other Long-term Liabilities 355,734 450,083 Deferred Income Taxes 180,436 184,015 Total Long-term Liabilities $19,703,929 $19,150,431 Redeemable Noncontrolling Interests 63,746 64,423 (Deficit) Equity Total (Deficit) Equity $(938,394) $(709,331) Total Liabilities and (Deficit) Equity $21,486,815 $21,125,019 5