Slide 1: Strengthening Connections
Strengthening Connections INVESTOR PRESENTATION AUGUST 2018 Digital Realty the trusted foundation | powering digital ambitions
Slide 2: Business Highlights
Business Highlights 1 DIGITAL REALTY OVERVIEW Introduction 2 INTRODUCTION TO DATA CENTERS Data center 101 3 GLOBAL PLATFORM Growing world-wide demand from a diversified customer base 4 CONNECTED CAMPUS STRATEGY Solving for the complete deployment; land and expand 5 ATTRACTIVE GROWTH PROSPECTS Organi
Slide 3: Digital Realty Overview
Digital Realty Overview Digital Realty Overview INTRODUCTION INVESTOR PRESENTATION | AUGUST 2018 3
Slide 4: Leading Global Data Center REIT
DIGITAL REALTY AT A GLANCE (NYSE: DLR) Leading Global Data Center REIT Investment Management High-Quality Customer Base, including Approach Focused on Global Companies Across Return on Invested Capital Various Industries 198 DATA CENTERS (1) $26 Bn EQUITY MARKET CAPITALIZATION (3) 2,300+ CUSTOMERS 3
Slide 5: Three-Year Guideposts
THE NEXT HORIZON Three-Year Guideposts OUR FOCUS SUPERIOR RETURNS CAPITAL ALLOCATION Our philosophy is to deliver superior 1 Deliver superior risk-adjusted 2 Prudently allocate capital to opportunistically total returns extend global campus footprint returns by capitalizing on our core competencies
Slide 6: Aligning Go-to-Market with Customer Buying Behavior
MEETING OUR CUSTOMERS’ GROWING DATA CENTER NEEDS Aligning Go-to-Market with Customer Buying Behavior Our Customers Aligning our Go-to-Market strategy with our customers’ unique needs and the way they buy Global, Diverse Customer Base Customer-Centric Alignment Customers Comprehensive Global Global E
Slide 7: Global Real Estate Reach, Complementary Product Mix
ALIGNING CORE COMPETENCIES WITH CUSTOMERS Global Real Estate Reach, Complementary Product Mix Our Core Competencies Capitalizing on our competitive advantages that include large scale campuses, network-dense interconnection hubs and diversified product offering on a global basis REAL ESTATE EXPANSIV
Slide 8: Full Spectrum of Data Center Solutions Across a Global Platform
SUPPORTING OUR CUSTOMERS’ GROWTH Full Spectrum of Data Center Solutions Across a Global Platform 198 12 32 32+ DATA CENTERS (1) COUNTRIES (1) METROPOLITAN AREAS (1) MILLION RENTABLE SQ. FT. (1)(2) INTERCONNECTION COLOCATION SCALE HYPER-SCALE Note: Data as of June 30, 2018 unless otherwise noted. 1)
Slide 9: Introduction to Data Centers
Introduction to Data Centers DATA CENTER 101 INVESTOR PRESENTATION | AUGUST 2018 9
Slide 10: What is a Data Center?
DATA CENTER 101 What is a Data Center? 1 Building Shell 2 Electrical Systems Data Center Layout 3 HVAC / Mechanical Systems Building Shell 4 Building Fit-Out / Site Work Data Centers HVAC Data centers are designed to Electrical Utility Service ( Not Shown in Image) house servers and network Mechanic
Slide 11: What Goes into Building a Data Center?
DATA CENTER 101 What Goes into Building a Data Center? 1 BUILDING SHELL 2 ELECTRICAL SYSTEMS Data Center Cost Distribution • Building Shell Building • Generator • Raised Floor Shell • Batteries 22% • Power Distribution Unit (PDU) Electrical • Uninterruptible Power Supplies Systems (UPS) 40% 3 HVAC /
Slide 12: Comprehensive Customer-Focused Product Suite
FOCUSED PURSUIT Comprehensive Customer-Focused Product Suite Flexible solutions meeting customers’ needs in space, colo and interconnection through one provider SCALE COLOCATION CONNECTIVITY Solution to scale from a medium Enabling small (one cabinet) to Connecting customers & partners 300+ kW to ve
Slide 13: What is a Cross-Connect?
INTERCONNECTION What is a Cross-Connect? INTERCONNECTION CONTENT NETWORK CONNECTING PARTNERS AND NETWORKS A cross-connect is a physical layer network connection between two parties. The cross-connect is enabled by the installation of patch cord(s) between ports of the respective parties’ interconnec
Slide 14: Customers' Desired IT End State
HOME TO THE HYBRID MULTI-CLOUD SOLUTION Customers’ Desired IT End State The majority of companies deploy some form of hybrid cloud solution to run and manage their IT needs PRIVATE PUBLIC CLOUD SOLUTIONS CLOUD SOLUTIONS Single organization, Service providers, dedicated environment many customers 4%
Slide 15: The Second Wave of Cloud
NEXT GENERATION DRIVERS The Second Wave of Cloud ARTIFICIAL INTELLIGENCE MARKET FORECAST (1) INTERNET OF THINGS (IoT) MARKET FORECAST (2) ($ in billions) (IoT Units Installed in millions) $60 $47 76% $34 34% 20,415 CAGR (‘16 - ‘25) CAGR (‘16 - ‘20) $24 $16 11,197 $11 8,381 $4 $7 6,382 $0 $2 2016 201
Slide 16: Global Platform
Global Platform GROWING WORLD-WIDE DEMAND FROM A DIVERSIFIED CUSTOMER BASE INVESTOR PRESENTATION | AUGUST 2018 16
Slide 17: Nearly 200 Data Centers Across More Than 30 Metro Areas
COVERING THE WATERFRONT Nearly 200 Data Centers Across More Than 30 Metro Areas Seattle Minneapolis / St. Paul Portland Toronto Boston Tokyo San Francisco New York Manchester Osaka Metro Amsterdam Chicago Silicon Valley Northern Dublin Denver Virginia London Hong Kong Charlotte Frankfurt Los Angeles
Slide 18: Numerous Customers with Multiple Locations Across the Portfolio
HIGH-QUALITY, DIVERSIFIED CUSTOMER BASE Numerous Customers with Multiple Locations Across the Portfolio TOP 20 CUSTOMERS Customer Rank Locations % of ABR(1) Customer Rank Locations % of ABR(1) CUSTOMER TYPE (% by ABR) (1) Fortune 50 1 Software Company 17 6.4% 11 56 1.9% Network 19% Fortune 500 2 17
Slide 19: Deliver Basic Services, Enable Partners
GLOBAL SERVICE INFRASTRUCTURE PLATFORM Deliver Basic Services, Enable Partners Digital Realty is Focused on Providing the Real Estate Foundation to Enable Customers & Partners to Service Thousands of Their Customers Focused on Real Estate Foundation Funnel Approach Towards Customers CLOUD SERVICES T
Slide 20: Strategic Alliances Bearing Fruit
ENABLING CUSTOMERS AND PARTNERS Strategic Alliances Bearing Fruit Strategic alliance for network-enabled colocation services AT&T will continue to resell Digital Realty colocation capacity AT&T AT&T Colocation Services Network-Enabled Network from Digital Realty Colocation Services • Global connecti
Slide 21: Connected Campus Strategy
Connected Campus Strategy SOLVING FOR THE COMPLETE DEPLOYMENT; LAND AND EXPAND INVESTOR PRESENTATION | AUGUST 2018 21
Slide 22: Solving for the Complete Deployment; Land and Expand
MULTI-TIERED CLOUD ARCHITECTURES Solving for the Complete Deployment; Land and Expand Connected Campus Network Access Nodes Higher COLO • High network requirements to efficiently distribute and aggregate Performance traffic • Applications: network connectivity, network peering and WAN optimization •
Slide 23: Digital Ashburn
THE CONNECTED CAMPUS Digital Ashburn 70% of the World’s Web Traffic Flows Through Loudoun County (1) 345 290 MW MW Digital Realty has 345 …in addition to 180 acres MW of capacity on our of land holdings that will two existing Ashburn support the build-out of campuses… another 290 MW 1) Source: Loudo
Slide 24: Expand, Tether, and Densify Data Center Campuses
DENSITY AT SCALE AND AT HUBS Expand, Tether, and Densify Data Center Campuses CHICAGO CAMPUS NEW YORK CAMPUS DALLAS CAMPUS LONDON CAMPUS 350 E. CERMAK 111 8th AVENUE 2323 BRYAN STREET SOVEREIGN HOUSE Connect@Scale suites, Connect@Scale suites, Connect@Scale suites, Connect@Scale suites, Powered Base
Slide 25: Network Density That Promotes Innovation and Collaboration
DIGITAL REALTY IS THE EDGE Network Density That Promotes Innovation and Collaboration 12 CITIES 76k 1600+ 10 ASSETS CROSS-CONNECTS NETWORK INSTANCES Globally Where Our GLOBALLY With Over 2,000 GLOBALLY Internet Gateways Cross-Connects Each Are Located 50,000+ Cross-Connects and 630+ Networks: 111 8t
Slide 26: Diversifying Product Offerings
DIVERSIFYING PRODUCT OFFERINGS Facilitating Secure Connections to Multiple Service Providers 12 METRO AREAS 3 Private Access to METRO AREAS SaaS Applications ACROSS ACROSS EMEA NORTH AMERICA A software-defined network (SDN) that allows a customer to establish direct, private connections to 55 10 $71
Slide 27: Attractive Growth Prospects
Attractive Growth Prospects Digital Realty Overview ORGANIC GROWTH COMBINED WITH LEASE-UP OPPORTUNITY INVESTOR PRESENTATION | AUGUST 2018 27
Slide 28: Significant Customer Investment Drives Stable Retention
HIGH UTILIZATION PROVIDES DOWNSIDE PROTECTION Significant Customer Investment Drives Stable Retention Historical Retention on Rentable Square Feet (1) Trailing Twelve-Month Tenant Retention Long-Term Historical Average $15 – $30 100% million approximate cost of a new 1.125 MW data 90% center deploym
Slide 29: Evenly-Staggered Lease Expiration Schedule
EVENLY-STAGGERED LEASE EXPIRATION SCHEDULE Consistent, Modest Roll-Over Exposure in Any One Year % of Lease Expirations by Annualized Base Rent (1) 40% Scale Colocation 2% - 4% 30% Annual cash rental rate increases (2) 20.2% 20% 12.4% 12.0% 10.9% 10% 10.3% 7.5% 6.1% 9.5% 4.7 years 5.4% 4.9% Weighted
Slide 30: Cyclical-Agnostic Performance Compares Favorably
UNINTERRUPTED GROWTH THROUGHOUT THE CYCLE Cyclical-Agnostic Performance Compares Favorably Twelve Consecutive Years of Positive Growth Financial Crisis 2006 – 2018E FFO / 500 Share CAGR(1) 400 DLR: 12.4%(2) 300 PSA: 9.4% SPG: 7.0% 200 AVB: 6.4% BXP: 3.1% EQR: 3.0% 100 KIM: (3.4%) 0 2006 2007 2008 20
Slide 31: Thirteen Consecutive Years of Dividend Increases
COMMITTED TO A SECURE AND GROWING DIVIDEND Thirteen Consecutive Years of Dividend Increases (2) Cash Dividend / Common Share AFFO Payout Ratio $4.04 $3.72 4% $3.52 $3.32 $3.40 $3.12 $2.92 $2.72 DIVIDEND YIELD(1) $2.02 $1.47 $1.00 $1.08 $1.17 $1.26 12% CAGR 93% 95% 86% (2005 – 2018) 78% 79% 84% 84% 7
Slide 32: Strong Growth, Moderate Volatility
EXCEPTIONAL RISK-ADJUSTED GROWTH TRACK RECORD Strong Growth, Moderate Volatility Consistently Delivered Healthy Growth in FFO and Dividends per Share 12-Year FFO / Share Risk-Adjusted Growth(1) 12-Year Dividend / Share Risk-Adjusted Growth(2) Median REIT Median REIT Above-average (12 –Year Dividend
Slide 33: At a Reasonable Valuation
SUPERIOR GROWTH PROSPECTS At a Reasonable Valuation REIT Sector PEG Ratios (1) (2) 2018E AFFO Multiple / 2018E AFFO Growth 2018E AFFO Multiple 6.0 30x REIT Universe Average PEG Ratio = 4.7 5.2 4.0 20x 3.6 3.0 2.0 2.2 10x 1.9 1.6 0.0 x Data Centers Digital Realty Lodging Industrial CBD Office Apartme
Slide 34: Prudent Capital Allocation
Prudent Capital Allocation DISCIPLINED INVESTMENT CRITERIA GUIDED BY RETURN ON INVESTED CAPITAL INVESTOR PRESENTATION | AUGUST 2018 34
Slide 35: Market Fundamentals, Accessibility, Stability and Risk
STRINGENT ACQUISITION CRITERIA Market Fundamentals, Accessibility, Stability and Risk KEY INVESTMENT CRITERIA FOR EXPANSION STRATEGIC AND FINANCIALLY PRUDENTLY 1 COMPLEMENTARY 2 ACCRETIVE 3 FINANCED 2010 2012 2015 2016 2017 365 Main Portfolio Sentrum Portfolio Telx European Acquisition DuPont Fabros
Slide 36: Market Fundamentals, Accessibility, Stability and Risk
STRINGENT ACQUISITION CRITERIA Market Fundamentals, Accessibility, Stability and Risk KEY ELEMENTS OF INVESTMENT UNDERWRITING Market Fundamentals Accessibility / Business-Friendly / Internet Proximity Stable Locations ▪ Core metro areas / major ▪ Access to fiber ▪ Accommodative local utility central
Slide 37: Conservative Financial Strategy
Conservative Financial Strategy COMMITTED TO MAINTAINING A FLEXIBLE BALANCE SHEET INVESTOR PRESENTATION | AUGUST 2018 37
Slide 38: Positioning for Growth
PRUDENT FINANCIAL MANAGEMENT Positioning for Growth INVESTMENT GRADE BALANCE SHEET Consistently maintain balance sheet positioned for new investment opportunities ORGANIC GROWTH Focus on driving higher same-capital cash NOI growth RISK-ADJUSTED RETURNS Earn higher risk-adjusted returns on our tradit
Slide 39: Track Record and Commitment to Energy Efficiency
INDUSTRY LEADING SUSTAINABILITY Track Record and Commitment to Energy Efficiency Award-winning Management and Track record of data center organizational sustainable Industry-leading designs and Thought leadership commitment to project clean energy third-party and innovation in sustainability investm
Slide 40: Committed to a Conservative Capital Structure
CREDIT METRICS COMPARE FAVORABLY TO BLUE CHIP REITS Committed to a Conservative Capital Structure Net Debt / LQA Adjusted EBITDA(1) Net Debt + Preferred / LQA Adjusted EBITDA(1) 8x 8x 7.0x 6.7x 6.7x 6.6x 6.6x 5.7x 5.9x 5.7x 5.4x 6x 5.5x 5.4x 5.4x 6x 5.3x 5.2x 5.0x 5.0x 4.7x 4.7x 4x 4x 2x 2x -- -- BX
Slide 41: Recent Results
Recent Results SECOND QUARTER 2018 HIGHLIGHTS Note: The slides in this section were originally posted to the Company's website on July 26, 2018 and have not been updated to reflect changes occurring after that date. INVESTOR PRESENTATION | AUGUST 2018 41
Slide 42: Sustainable Growth for Customers, Shareholders & Employees
NAVIGATING THE FUTURE Sustainable Growth for Customers, Shareholders & Employees GLOBAL CONNECTED SUSTAINABLE INVESTOR PRESENTATION | AUGUST 2018 42
Slide 43: Delivering Sustainable Growth for All Stakeholders
SERVING A SOCIAL PURPOSE Delivering Sustainable Growth for All Stakeholders ENVIRONMENTAL SOCIAL GOVERNANCE 2018 Green Lease Leader recognition from Committed to enhancing the well- Minimum stock the IMT and U.S. DOE’s(1) Better Buildings being of our stockholders, customers, employees, vendors, 201
Slide 44: Robust Demand, Rational Supply
FIRM FUNDAMENTALS Robust Demand, Rational Supply NORTH AMERICA EMEA APAC 2,303 1,898 944 1,038 607 669 2Q17 2Q18 2Q17 2Q18 2Q17 2Q18 MEGAWATTS COMMISSIONED(1,2) MEGAWATTS COMMISSIONED(1,2) MEGAWATTS COMMISSIONED(1,2) 91% 89% 91% 83% 93% 95% DIGITAL DIGITAL REGION DIGITAL REGION REGION REALTY REALTY
Slide 45: Delivering Superior Risk-Adjusted Returns
DELIVERING SUPERIOR RISK-ADJUSTED RETURNS Investing Opportunistically to Expand the Global Platform LTM 2Q17 LONG-TERM VALUE CREATION LTM 2Q18 PRE-LEASING (%) 2Q17 39% 2Q18 62% LEASE TERM (Years) 2Q17 6 2Q18 8 CREDIT QUALITY (% Investment Grade)1 2Q17 30% 2Q18 40% SPREAD OVER COST OF CAPITAL LONGER
Slide 46: Supportive Economic Growth Outlook
SUPPORTIVE ECONOMIC GROWTH OUTLOOK Levered to Long-Term Secular Demand Drivers 1Q18 CALL CURRENT Better/ April 25, 2018 July 25, 2018 Worse 2018E 2019E Global GDP Growth Forecast (1) 2018E: 3.9% 2018E: 3.9% tu 3.9% 3.9% MACROECONOMIC U.S. GDP Growth Forecast (1) 2018E: 2.9% 2018E: 2.9% tu 2.9% 2.7%
Slide 47: Sunny Forecast for Cloud Growth
SUNNY FORECAST FOR CLOUD GROWTH Global Interconnected Platform Poised to Capitalize $186 Billion 70% $74 Billion $41 Billion expected spend on public cloud services globally in 2018 (2) of organizations are overall public cloud overall public cloud making significant or spending that will go to spen
Slide 48: Financial Results
Financial Results INVESTOR PRESENTATION | AUGUST 2018 48
Slide 49: Comprehensive Solutions Support Diverse Customer Base
LUMPY BUT HEALTHY Comprehensive Solutions Support Diverse Customer Base HISTORICAL BOOKINGS ANNUALIZED GAAP BASE RENT(1)(2) $ in millions $100 $75 $50 $25 $0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2Q18 BOOKINGS BY PRODUCT(1)(2) $78.3 mm $0.0 mm $7.5 mm $0.6 mm $7.6 mm $94.0 mm TURN-KEY PO
Slide 50: Three Unique Options for Connecting to IBM Cloud
EXTENDING CUSTOMER REACH THROUGH ALLIANCES Three Unique Options for Connecting to IBM Cloud Digital Realty can provide access to the IBM Cloud from 74 Global Locations in 21 Metros across four Continents Direct Link Dedicated Hosting Direct Link Dedicated Direct Link Connect Ultra latency-sensitive
Slide 51: Healthy Backlog Sets a Solid Foundation
TOP-LINE STEP FUNCTION Healthy Backlog Sets a Solid Foundation BACKLOG ROLL-FORWARD COMMENCEMENT TIMING $ in millions $ in millions 1Q18 Backlog Signings Commencements 2Q18 Backlog Current Period Backlog Total Backlog $86 $70 $8 $142 $142 $34 $126 $100 3Q18 4Q18 1Q18 Backlog Signings Commencements 2
Slide 52: Positive Mark-to-Market Across All Property Types
CYCLING THROUGH PEAK VINTAGE RENEWALS Positive Mark-to-Market Across All Property Types 2Q18 RE-LEASING SPREADS TURN-KEY FLEX® POWERED BASE BUILDING® COLOCATION TOTAL RENTAL RATE CHANGE RENTAL RATE CHANGE RENTAL RATE CHANGE RENTAL RATE CHANGE 4.7% 3.0% 2.8% 3.4% CASH CASH CASH CASH 10.5% 15.1% 2.8%
Slide 53: Benefits of Scale and Diversification on Display
PUTTING EXPOSURE IN PERSPECTIVE Benefits of Scale and Diversification on Display EXPOSURE BY REVENUE 2018 CORE FFO/SHARE EXPOSURE USD CAD GBP EURO JPY HKD SGD AUD 0.3% BENCHMARK 1% 10% RATES +/- 100 bps 4% 81% 0% Midpoint of 0.3% 0.1% Guidance $6.55 – $6.65(1) GBP EUR 0% +/- 10% +/- 10% 3% 1% YEAR-T
Slide 54: High Quality of Earnings with Proven Growth Profile
CONSISTENT EXECUTION, SUSTAINABLE GROWTH High Quality of Earnings with Proven Growth Profile OPERATING REVENUE ADJUSTED EBITDA(1) 33% 5% 39% 6% +7.6% Growth (incl. DFT) Growth (excl. DFT) Growth (incl. DFT) Growth (excl. DFT) Core FFO/sh 2Q18 / 2Q17 2Q18 / 2Q17 2Q18 / 2Q17 2Q18 / 2Q17 2Q18 / 2Q17 $
Slide 55: Beat, Beat, Dip, Bounce
FOUR QUARTER TWO-STEP Beat, Beat, Dip, Bounce 2018E CORE FFO PER SHARE 1Q18A 2Q18A NOI Growth Interest Expense Asset Sales 3Q18E Lease 4Q18E Commencements Note: Based on management estimates; actual performance may differ materially. Core FFO and NOI are non-GAAP financial measures. For descriptions
Slide 56: Clear Runway on the Left, No Bar Too Tall on the Right
MATCHING THE DURATION OF ASSETS AND LIABILITIES Clear Runway on the Left, No Bar Too Tall on the Right DEBT MATURITY(1) DEBT PROFILE (USD in billions) No Material Maturities 5 YEARS Weighted Average 3.5% Weighted 99% Unsecured Unsecured Secured Debt Maturity(1)(2) Average Coupon(1) until 2020 $2.0 F
Slide 57: Delivering Current Results, Seeding Future Growth
CONSISTENT EXECUTION ON STRATEGIC VISION Delivering Current Results, Seeding Future Growth SUCCESSFUL SECOND QUARTER 2018 INITIATIVES 1. Deepening Connections with Customers $94 mm 2Q18 Total Bookings Reached high-water mark for bookings and backlog 2. Extending Sustainability Leadership Named 2018
Slide 58: Appendix
Appendix INVESTOR PRESENTATION | AUGUST 2018 58
Slide 59: Diverse Customer Base + Product Offerings
ROBUST LONG-TERM DEMAND, LUMPY NEAR-TERM SIGNINGS Diverse Customer Base + Product Offerings HISTORICAL BOOKINGS TRAILING FOUR-QUARTER AVERAGE ANNUALIZED GAAP BASE RENT(1)(2) $ in millions $80 $60 $40 $20 $0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2Q18 TRAILING FOUR-QUARTER AVERAGE BOOKINGS
Slide 60: Management Statements on Non-GAAP Measures
APPENDIX Management Statements on Non-GAAP Measures The information included in this presentation contains certain non-GAAP financial measures that management believes are helpful in understanding our business, as further described below. Our definition and calculation of non-GAAP financial measures
Slide 61: Management Statements on Non-GAAP Measures
APPENDIX Management Statements on Non-GAAP Measures EBITDA and Adjusted EBITDA: We believe that earnings before interest, loss from early extinguishment of debt, income taxes, depreciation and amortization, and impairment of investments in real estate, or EBITDA, and Adjusted EBITDA (as defined belo
Slide 62: Management Statements on Non-GAAP Measures
APPENDIX Management Statements on Non-GAAP Measures The information included in this presentation contains forward-looking statements. Such statements are based on management’s beliefs and assumptions made based on information currently available to management. Such forward-looking statements includ
Slide 63: To Their Closest GAAP Equivalent
RECONCILIATION OF NON-GAAP ITEMS To Their Closest GAAP Equivalent Funds from operations (1) Reconciliation of Adjusted EBITDA Q218 Q217 FY 2017 Q218 Q217 Net income (loss) available to common stockholders $ 65,134 $ 57,837 $ 173,149 EBITDA $ 444,853 $ 296,169 Noncontrolling interests in operating pa
Slide 64: To Their Closest GAAP Equivalent
RECONCILIATION OF NON-GAAP ITEMS To Their Closest GAAP Equivalent Funds from operations (1) Q218 Q217 FY 2017 FY 2016 FY2015 FY2014 FY2013 FY2012 FY2011 FY2010 FY2009 FY2008 FY2007 FY2006 FY2005 Net income (loss) available to common stockholders $ 65,134 $ 57,837 $ 173,149 $ 332,088 $ 217,266 $ 132,
Slide 65: To Their Closest GAAP Equivalent
RECONCILIATION OF NON-GAAP ITEMS To Their Closest GAAP Equivalent Net Debt/LQA Adjusted EBITDA QE 6/30/2018 QE 6/30/2018 Debt Service Ratio (LQA Adjusted EBITDA/GAAP interest expense plus capitalized interest and less bridge facility fees) Total debt at balance sheet carrying value $ 9,106,084 Total
Slide 66: Digital Realty the trusted foundation | powering digital ambitions
Digital Realty the trusted foundation | powering digital ambitions