Slide 1: Charting a new path forward
Exhibit 99.1 a new6, 2014 Charting May forward. path
Slide 2: Strategic Priorities and Opportunity Direction
The Top Excess OPPORTUNITY Legacy markets Unparalleled Swing meaningful Deep STRATEGIC Lease-up Recycle Improve –Transition 2Unleash Align Sell Explore Focus Know Commit Way Priorities reservoir non-strategic producer finished non-data our on and returns capital the asset Forward existing additional
Slide 3: Value-Creating Joint Venture with Prudential Real Estate Investors
Value-Creating Strong Property Market services Cap Digital Pre-payment Ownership: Contribution 1) 2) revenue with The Represents Rate GAAP cash Investor Realty •and company •New •636 7.1% cap DLR 3tenant penalty: toGAAP York /contributed Pierce Joint Appetite JV Prudential rate (including 20% Remain
Slide 4: Sustained Leasing Momentum
Sustained Consistent (1) Turn-Key ® Total $Historical 1Q07 $0 $10 $20 $30 $40 $50 $60 1) 42)in 160,632 Includes GAAP Annualized millions 368,606 2Q07 rental Leasing Flex® Signings Execution $75 signings 3Q07 $126 GAAP $12.0 revenues 147,410 4Q07 Momentum –$46.6 for Annualized million inAnnualized ne
Slide 5: Strong Rental Rates on New Leases
Strong High $GAAP $150 $161 $200 $112 $56 $64 $100 2007 $0 $50 -TKF 51) Global inGAAP $47 millions Rates $112 Face $137 2008 Annualized Start rental Rate, $106 2009 / to s.f. TKF the revenues $128 Albeit 2010 PBB Year Base $153 2011 Due Custom Rent(1) include $158 2012 to Market Solutions $172 2013
Slide 6: Healthy Renewal Economics
Healthy Stable Turn-Key 0.6% 3.3% 5% 10% 14.3% 15% 19.1% 20% 20.5% 25% Cash 0% GAAP Signed Rental Renewed 61) Represents Rent 1.2% Pricing rates Rent renewal Renewal 142,000 22,000 Flex %on %Change Turn-Key –Change ® renewals leases Positive square Economics(1) Powered square representing feet Flex
Slide 7: Shorter Sign-to-Commencement Backlog
Shorter Six-Month & Acquired Signing 1Q13 2Q13 $433.3 Backlog: Current 4Q11 1Q12 Quarter 3Q12 4Q12 ning Sig 3Q13 4Q13 4$1Q14 Percent 90% 1) Note: 7estimates. 366.5 in Pre On2Q13 millions 1Q13 ofAmounts 1Q12 $53.0 $43.7 $16.0 $17.8 $27.0 $28.8 $47.3 $54.2 $46.6 a$66.8 $22.1 $85.5 leases Commencement
Slide 8: Contractual 1Q14 Annualized NOI
$Contractual $1,100 $1,051 $1,000 $13 $20 1Q14 $800 $900 $10 $24 Annualized NOI, consolidated(3) Note: from 2) four-quarter 4) 5) DLR’s 7) 8)in Adjustment Annualized 3)millions 6) Chart Recognized GAAP expirations 1) 1Q14-2Q14 share $1,090 $39 $988 Incremental Annualized NOI dispositions period see
Slide 9: 4Q13 Supply Available
4Q13 Supply Available In 22 25 40 45 48 60 80 20 -B 11 15 91)oston megawatts Based 19 U.S. 18 Remains Chicago on Supply Major Digital Dallas inNew Market Check Realty Construction Houston Data Across internal Center NMost Virginia estimates. Sublease Supply(1) MajorNYAvailability Markets Metro Phoen
Slide 10: 1Q14 Healthy Demand, Current Supply
1Q14 Healthy Current New Sublease DLR In 80 Boston 1) 10 megawatts Based 60Construction 24 Inventory U.S. 40Chicago 13Supply Demand, Availability 20 17 onMajor –Digital 67 28Dallas Market but 18Realty 44 Northern Houston Data Internal Center Virginia N Virginia estimates. Supply(1) Stands NY Out Met
Slide 11: Credit Metrics Compare Favorably to REIT Peers
Credit Leverage (2)(2)(1) Net KIM EQR BXP (1) (2) 5.3x 5.7x 5.9x 6.2x 7.0x 7.2x 7.3x 8.0x Interest FRT 4.4x 0.0x(1)(2)(2) 2.5x 3.0x Fixed 4.0x 4.1x 6.0x 3.1x 2.7x AVB (2)(1)(2) 0.0x 2.0x Source: 1) to 2) 3) 4) Adjusted quarter Pro For Based Debt 7.2x 5.7x 5.3x 4.1x 3.6x 3.0x 2.5x EQR SPG Charge form
Slide 12: Locking in Run-Rate Core FFO
Locking Run-Rate $Core 1Q14 & 1) 2) as1.30 1.28 0.07 1.20 0.01 1.10 expirations Core if 12 FFO Core $such FFO 0.02 1.18 inSteps per Long-Term FFO adjustments isshare RunaDown -non-GAAP Actual Rate in represents Capital (1) the hadLong-term Second financial impacted 1Q14 Quarter measure. results capi
Slide 13: Appendix
13 Appendix
Slide 14: Definitions of Financial and Other Measures
Definitions Financial The calculation any FUNDS adjustments losses recognized amortization limited. supplement ADJUSTED operating REITs, (iv) stock. accordance CORE We when transaction (vii) is computed NET NOI commonly below commissions measures cash 14 limited. calculate present straight other inf
Slide 15: Definitions of Earnings Measures
EARNINGS We to change EBITDA properties interested leasing Adjusted should Each CFFO, 15 view believe ofbe AFFO, in commissions, our FFO, is EBITDA fair considered parties tothat EBITDA performance unconsolidated BEFORE CFFO, value NOI, earnings indifferently the of Cash AFFO, excluding only and con
Slide 16: Reconciliation of Net Income to FFO
To Their Net and 164,097 Basic Depreciation (2) transactions three weighted outstanding. Weighted 6,806 Digital Reconciliation Three FFO Change unitholders Diluted (1) (3) 16 Real For Includes Relates income amortization available months FFO 131,143 Weighted Months Realty the CFFO in estate Closest
Slide 17: Reconciliation of Net Income to NOI and Projected FFO
Toreconciliation Digital Reconciliation (in Three (unaudited) March Operating Fee Construction Change Depreciation General Transactions Other Net 1Q14 A Low Real Add: Dilutive Less: Projected 17 Their thousands) income Operating estate -Annualized expenses Months High 31, Realty in and impact Closes
Slide 18: Forward-Looking Statements
Forward The Such and organizational our expected investments; capital; capital datacenter replacement in meet information Internet “should,” or unknown current recession; significant associated contained foreign failure development properties applicable risks state affect Commission. 18 rental trend