Digital Realty Trust, Inc. · NYSE:DLR
Digital Realty Trust — Q1 2026 Earnings Presentation
22 slides from Digital Realty Trust's earnings presentation, Apr 23, 2026
Slide 1: 1Q26 Financial Results
1Q26 FINANCIAL RESULTS April 23, 2026 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 Strong Expanding Bottom Line Growth 5,500+ 234,000+ Operating Results Connectivity Footprint Customers Cross Connects 3 Strategic 55+ Metros 300+ Data Centers $707M Market Entries 15% Bookings at 100% Share Y/Y Growth
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 ~3 GW In-Place IT Capacity ~6 GW Future Development IT Capacity ~9 GW Total Data Center IT Capacity Note: As of March 31, 2026. 1Q26 Financial Results 3
Slide 4: Development Capacity
Development Capacity For Growing Cloud and AI Workloads >6 GW Future Development Capacity ~1.2 GW Under Construction = >100MWs of Buildable Capacity = >25MWs and <100 MWs of Buildable Capacity = <25MWs of Buildable Capacity >5 GW CAPACITY BLOCKS >100 MW < 100 MW and > 25 MW < 25 MW 10% Capacity Futu
Slide 5: 1Q26 Financial Results
1Q26 Financial Results 1Q26 Financial Results 5
Slide 6: Enabling the Meeting Place
Enabling the Meeting Place Another Record Quarter of 0-1MW + IX Bookings 1Q26 Results 116 New Logos Added $98M Bookings from 0-1MW + Interconnection 42% Y/Y Growth in Bookings from 0-1 MW + Interconnection Note: Metrics presented at Digital Realty’s share. 1Q26 Financial Results 6
Slide 7: Strong Demand Environment
Strong Demand HISTORICAL BOOKINGS ANNUALIZED GAAP BASE RENT Environment $ in millions 0-1MW Interconnection Partner Share >1 MW Other (1) $375 $1,250 $1,050 $300 • Record $98M Bookings in 0-1MW + IX Category $225 $850 $650 • Largest Lease in DLR $150 History $450 $75 $250 • $707M Total Bookings at 1
Slide 8: Record Backlog
Record Backlog BACKLOG ROLL-FORWARD (1) $ in millions COMMENCEMENT TIMING (3) $ in millions Multi-Year Visibility $423M $204M $157M $1,032M $242M $1,032M • Backlog Represents $369M 23% of in-place $817M $247M $222M Annualized Rent $154M $544M • Record Total Backlog of $1.8B at 100% Share $752M $751M
Slide 9: Robust Pricing Environment
Robust Pricing Environment 1Q26 RENEWAL SPREADS Attractive Renewal 0-1 MW > 1 MW OTHER (1) TOTAL Spreads RENTAL RATE CHANGE RENTAL RATE CHANGE RENTAL RATE CHANGE RENTAL RATE CHANGE 4.3% 7.4% 16.6% 5.0% • Renewals Skewed CASH CASH CASH CASH Toward 0-1 MW Category 5.1% 10.3% 26.1% 6.3% GAAP GAAP GAAP
Slide 10: Revenue Exposure by Currency
EXPOSURE BY REVENUE (1) Revenue Exposure 49% USD 24% EURO 5% ZAR 5% GBP 4% SGD 2% JPY 2% BRL 2% CHF 1% CAD <1% OTHER by Currency Currency Tailwinds 1% 5% <1% <1% 2% 24% <1% 49% 2% <1% <1% <1% • Local Operations Funded <1% 4% <1% <1% in Local Currencies Act as 2% a Natural Hedge <1% <1% 5% • FX Benef
Slide 11: 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 MARCH 31, 2026 (1)(2) DEBT PROFILE (U.S. $ in billions) 4.7 YEARS 2.8% Weighted Avg. Weighted Avg. Unsecured Maturity (1)(2) Coupon (1) 95% $3.1 $3.1 Unsecured Secure
Slide 12: 2026 Financial Guidance Update
2026 Financial Guidance Update Improving Core Growth As of February 5, 2026 As of April 23, 2026 Better/Worse Total Revenue $6,600 – $6,700 $6,650 - $6,750 (1) Adjusted EBITDA $3,600 – $3,700 $3,650 - $3,750 Rental Rates on Renewals Leases (Cash) 6.0% – 8.0% 6.5% - 8.5% Year-End Portfolio Occupancy
Slide 13: Consistent Execution on Strategic Vision
Consistent Execution on Strategic Vision Delivering Strong Results, Seeding Future Growth Strengthening Innovating Diversifying Customer and and Bolstering Value Integrating Capital Proposition Sources First Quarter of 2026 Accomplishments • $707M Bookings, at 100% share • ServiceFabric® Expansion t
Slide 14: Appendix
Appendix 1Q26 Financial Results 14
Slide 15: 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 16: 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 17: Reconciliation of Net Income to FFO
Reconciliation of Digital Realty Trust, Inc. and Subsidiaries Reconciliation of Net Income Available to Common Stockholders to Funds From Operations (FFO) Non-GAAP Items (in thousands, except per share and unit data) (unaudited) Three Months Ended To Their Closest GAAP March 31, 2026 March 31, 2025
Slide 18: Reconciliation of FFO to Core FFO
Reconciliation of Non-GAAP Items To Their Closest GAAP Digital Realty Trust, Inc. and Subsidiaries Equivalent Reconciliation of Funds From Operations (FFO) to Core Funds From Operations (CFFO) (in thousands, except per share and unit data) (unaudited) Three Months Ended March 31, 2026 March 31, 2025
Slide 19: Reconciliation to EBITDA and Adjusted EBITDA
Reconciliation of Non-GAAP Items To Their Closest GAAP Equivalent Digital Realty Trust, Inc. and Subsidiaries 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 20: Reconciliation of Same Capital Cash NOI
Reconciliation of Digital Realty Trust, Inc. and Subsidiaries Non-GAAP Items Reconciliation of Same Capital Cash Net Operating Income (in thousands) (unaudited) To Their Closest GAAP Three Months Ended Equivalent March 31, 2026 March 31, 2025 Rental revenues $ 849,758 $ 782,759 Tenant reimbursements
Slide 21: Debt to Enterprise Value and Debt Service Ratio
Total Debt/Total Enterprise Value QE 3/31/26 Reconciliation of Debt Service Ratio (LQA Adjusted EBITDA/GAAP interest expense plus capitalized interest and less bridge facility (i) Market value of common equity $ 64,013,656 fees) (ii) Liquidation value of preferred equity 755,000 Total GAAP interest
Slide 22: Thank you
r Thank you FN DIGITAL Lv REALTY.