Summary of IRON MOUNTAIN INC

Item 8.01. Other Events.

On October 11, 2012, Iron Mountain Incorporated (the "Company") announced the declaration by its Board of Directors of a special dividend of $700.0 million (the "Special Dividend") on its shares of common stock, par value $0.01 per share (the "Common Stock"), payable in either Common Stock or cash to, and at the election of, the stockholders of record as of October 22, 2012 (the "Record Date"). The Company expects to pay the Special Dividend on November 21, 2012.

As of the Record Date, the Company had approximately 172.4 million shares of Common Stock outstanding. Based on such amount, the Special Dividend is valued at approximately $4.06 per share of Common Stock. Stockholders will have the right to elect, prior to November 14, 2012 (the "Election Deadline"), to be paid their pro rata portion of the Special Dividend all in Common Stock (a "Share Election") or all in cash (a "Cash Election"); provided, however, that the total amount of cash payable to all stockholders in the Special Dividend will be limited to a maximum of $140.0 million, not including cash in lieu of fractional shares of Common Stock, with the balance of the Special Dividend to be paid in the form of shares of Common Stock.

Computershare Shareowner Services LLC, as the Company's election agent, on October 24, 2012, distributed election materials, including an election form and a document containing information regarding the Special Dividend (the "Accompanying Materials"), to the holders of record as of the Record Date. A copy of the Accompanying Materials, which contains descriptions of, and additional information relating to, the Special Dividend, the Share Election and the Cash Election, is filed as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference herein.