Digital Realty Trust, Inc. · NYSE:DLR
Digital Realty Trust — Q3 2025 Earnings Presentation
23 slides from Digital Realty Trust's earnings presentation, Oct 23, 2025
Slide 1: 3Q25 Financial Results
3Q25 FINANCIAL RESULTS October 23, 2025 Global. Connected. Sustainable. The meeting place for companies, technologies and data
Slide 2: Executing on Key Strategic Priorities
Executing on Key Strategic Priorities Positioned for Long-Term Sustainable Growth 5,000+ 231,000+ Diversify and Customers Cross Connects Strengthen Our Innovate & Integrate 1 2 3 Bolster Capital Customer Value for Our Customers 50+ 300+ Proposition Digital Realty Sources Metros Data Centers $201M In
Slide 3: Offering a Global Data Center Platform
Offering a Global Data Center Platform Capacity in Major Metros to Meet Growing Customer Demand Global Capacity ~2,890 MW in-place IT capacity 730 MW under construction 50 MW net new starts in 3Q 51 MW delivered in 3Q Note: As of September 30, 2025. 3Q25 Financial Results 3 1) Buildable IT Capacity
Slide 4: Development Capacity
Development Capacity For Growing AI Workloads and Digital Economy >5 GW Future Development Capacity = >100MWs of Buildable Capacity = >25MWs and <100 MWs of Buildable Capacity = <25MWs of Buildable Capacity CAPACITY BLOCKS >5 GW >100 MW < 100 MW and > 25 MW 12% Capacity Future Development < 25 MW 52
Slide 5: Enabling the Meeting Place
Enabling the Meeting Place Second Highest Quarter of 0-1MW + Interconnection Bookings 3Q25 Results 156 New Logos Added $85M 3Q Bookings from 0-1MW + IX 52% of total 3Q bookings from 0-1 MW + IX 3Q25 Financial Results 5
Slide 6: Leading Data Center Partner for Sustainability
Leading Data Center Partner for Sustainability Building, Powering, and Operating More Sustainable Data Centers Renewable Energy Green Buildings Resource Efficiency Green Bonds Leading data center purchaser of More green building certified IT capacity More Energy Star certifications than any Leading
Slide 7: 3Q25 Financial Results
3Q25 Financial Results 3Q25 Financial Results 7
Slide 8: Strong Demand Environment
HISTORICAL BOOKINGS AT DLR SHARE ANNUALIZED GAAP BASE RENT Strong Demand $ in millions Environment $300 $800 $225 $600 • Second Highest Signings in 0-1MW+ IX Category $150 $400 • Record IX Bookings • $201M Bookings at $75 $200 100% Share 2021 2022 2023 2024 YTD 2025 0-1MW (Left y-axis) Interconnecti
Slide 9: Multi-Year Backlog
Multi-Year Backlog BACKLOG ROLL-FORWARD (1) $ in millions COMMENCEMENT TIMING (3) $ in millions Enhances Visibility $162M $137M • Backlog Represents $826M $147M $123M $852M $132M $852M >20% of In-place $555M $114M Annualized Rent • 85% of Backlog Expected to Commence $361M through 2026 $577M $602M $
Slide 10: Robust Pricing Environment
Robust Pricing Environment 3Q25 RENEWAL SPREADS Renewal Spreads 0-1 MW > 1 MW OTHER (1) TOTAL Increase Q/Q RENTAL RATE CHANGE RENTAL RATE CHANGE RENTAL RATE CHANGE RENTAL RATE CHANGE 4.2% 19.9% 11.2% 8.0% • >1MW Spreads Drive CASH CASH CASH CASH Upside from Healthy 4.4% 35.8% 17.5% 11.5% 0-1MW GAAP
Slide 11: Revenue Exposure by Currency
EXPOSURE BY REVENUE (1) Revenue Exposure 50% USD 23% EURO 6% ZAR 5% GBP 6% SGD 2% JPY 2% BRL 2% CHF 2% CAD <1% OTHER by Currency Currency Tailwinds 2% 5% <1% <1% 2% 23% <1% 50% 2% <1% <1% <1% • Local Operations Funded <1% 6% <1% <1% in Local Currencies Act as 2% a Natural Hedge <1% <1% 6% • 2% per s
Slide 12: Matching the Duration of Assets and Liabilities
Matching the Duration of Assets and Liabilities Modest Near-Term Maturities, Well-Laddered Debt Schedule DEBT MATURITY SCHEDULE AS OF SEPTEMBER 30, 2025 (1)(2) DEBT PROFILE (U.S. $ in billions) 4.5 YEARS 2.8% Weighted Avg. Weighted Avg. Unsecured $3.7 Maturity (1)(2) 96% Coupon (1)(3) Unsecured Secu
Slide 13: 2025 Financial Guidance Update
2025 Financial Guidance Update Improving Core Growth As of Feb. 13, 2025 As of July 24, 2025 As of Oct. 23, 2025 Better/Worse Total Revenue $5,800 – $5,900 $5,925 – $6,025 $6,025 – $6,075 (1) Adjusted EBITDA $3,100 – $3,200 $3,200 – $3,300 $3,300 – $3,350 Rental Rates on Renewal Leases (Cash) 4.0% –
Slide 14: Consistent Execution on Strategic Vision
Consistent Execution on Strategic Vision Delivering Current Results, Seeding Future Growth Strengthening Innovating Diversifying Customer and and Bolstering Value Integrating Capital Proposition Sources Successful 3Q25 Initiatives • Record IX Bookings • Launched Digital Realty Innovation Lab • Recor
Slide 15: Appendix
Appendix 3Q25 Financial Results 15
Slide 16: 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 17: Forward-Looking Statements
Appendix Forward-Looking Statements This information in this presentation contains forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes an
Slide 18: Reconciliation of Non-GAAP Items
Reconciliation of Digital Realty Trust, Inc. and Subsidiaries Reconciliation of Net Income Available to Common Stockholders to Funds From Operations (FFO) (in thousands, except per share and unit data) Non-GAAP Items (unaudited) Three Months Ended To Their Closest GAAP September 30, 2025 September 3
Slide 19: Reconciliation of Non-GAAP Items
Reconciliation of Non-GAAP Items To Their Closest GAAP Equivalent Digital Realty Trust, Inc. and Subsidiaries Reconciliation of Funds From Operations (FFO) to Core Funds From Operations (CFFO) (in thousands, except per share and unit data) (unaudited) Three Months Ended September 30, 2025 September
Slide 20: Reconciliation of Non-GAAP Items
Reconciliation of Non-GAAP Items To Their Closest GAAP Digital Realty Trust, Inc. and Subsidiaries Equivalent Reconciliation of Net Income Available to Common Stockholders to Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) and Adjusted EBITDA (in thousands) (unaudited) Three
Slide 21: Reconciliation of Non-GAAP Items
Reconciliation of Digital Realty Trust, Inc. and Subsidiaries Reconciliation of Same Capital Cash Net Operating Income Non-GAAP Items (in thousands) (unaudited) To Their Closest GAAP Three Months Ended September 30, 2025 September 30, 2024 Equivalent Rental revenues Tenant reimbursements - Utilities
Slide 22: Reconciliation of Non-GAAP Items
Total Debt/Total Enterprise Value QE 09/30/25 Debt Service Ratio (LQA Adjusted EBITDA/GAAP interest expense plus capitalized interest and less bridge Reconciliation of Market value of common equity(i) $ 60,377,303 facility fees) Liquidation value of preferred equity(ii) 755,000 Total GAAP interest e
Slide 23: Thank you
r Thank you FN DIGITAL Lv REALTY.