Prologis, Inc. · NYSE:PLD
Prologis — Merger or Acquisition (April 2018)
13 slides from Prologis's merger presentation, Apr 30, 2018
Slide 1: Prologis and DCT Industrial Merger Conference Call
April 30, 2018 Prologis and DCT Industrial Merger Conference Call Exhibit 99.2
Slide 2: Important Information
Important Information This presentation includes certain terms and non-GAAP financial measures that are not specifically defined herein. These terms and financial measures are defined and, in the case of the non-GAAP financial measures, reconciled to the most directly comparable GAAP measure, in Pro
Slide 3: Transaction Overview
Transaction Overview Board Composition and Management Board Composition 11 existing directors from Prologis Phil Hawkins is expected to join from DCT All Prologis executives maintain existing management positions Accretion & Dividend Increases forecasted annual run-rate Core FFO* per share by $0.06-
Slide 4: Strategic Rationale and Transaction Benefits
Strategic Rationale and Transaction Benefits * This is a non-GAAP financial measure Based on DCT development projects in lease-up, development projects under construction, value-added projects, leased pre-development and redevelopment properties as of March 31, 2018 As of March 31, 2018 Strategic Fi
Slide 5: DCT Industrial Trust Inc.
DCT Industrial Trust Inc. Based on DCT as of March 31, 2018; AUM based on total enterprise value; Map based on total operating square feet as of March 31, 2018 Represents development projects in lease-up, development projects under construction, leased pre-development, value-add acquisitions and red
Slide 6: Strategic Fit
Strategic Fit Prologis and DCT portfolio data as of March 31, 2018. Scaling is proportionate to the size of square feet for the combined portfolio Prologis portfolio metrics based on U.S. owned and managed operating portfolio as of March 31, 2018 and DCT portfolio metrics based on operating portfoli
Slide 7: Complementary Portfolios: San Francisco Bay Area – Brisbane, CA
Complementary Portfolios San Francisco Bay Area – Brisbane, CA Prologis DCT
Slide 8: Complementary Portfolios: Seattle – Sumner, WA
Complementary Portfolios Seattle – Sumner, WA Prologis DCT
Slide 9: Complementary Portfolios: Miami – Beacon Lakes, FL
Complementary Portfolios Miami – Beacon Lakes, FL Prologis DCT
Slide 10: Platform Benefits
Platform Benefits Based on net effective rent on an owned and managed basis for Prologis as of March 31, 2018 and annualized base rent for DCT as of March 31, 2018 Oxford Economics, Prologis Research Acquisition of high-quality, well-located assets to better serve customer needs Significant overlap
Slide 11: Synergies and Accretion
Synergies and Accretion * This is a non-GAAP financial measure Timing Category Estimated Annual Run–Rate Amount Day One $80M Corporate G&A Savings $30M Operating Leverage Scaling property management and leasing capabilities $7M Interest Expense Debt mark-to-market utilizing Prologis’s cost of capita
Slide 12: Balance Sheet Implications
Balance Sheet Implications(1) Source: Market prices as of 3/31/18 This is a non-GAAP financial measure, please refer to “Important Information” for calculation methodology Based on assumed combined share count of 648.2 million, which is 99.8 million shares from Prologis issued to DCT shareholders (b
Slide 13: @;protocis | g/DCT
@;protocis | g/DCT INDUSTRIAL