Slide 1: Enabling the Modern Economy
Enabling the ` Modern Economy Logistics. Digital Infrastructure. Energy. PLD Investor Presentation | May 2026
Slide 2: Legal Notices
Legal Notices Non-GAAP Measures. 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 meas
Slide 3: An integrated platform powering the next era
INVESTOR PRESENTATION An integrated platform powering the next era Logistics and Supply Chain Digital Infrastructure Distributed Energy Structural shifts in commerce will The rise of AI and cloud computing is Rising power demand and grid continue to drive demand for space in accelerating demand for
Slide 4: The world's most valuable logistics platform
INVESTOR PRESENTATION The world’s most valuable logistics platform Built on unmatched scale in logistics real estate. Digital infrastructure and distributed U.S. Other Europe Asia energy expand the moat — reinforcing our 804 MSF Americas 257 MSF 115 MSF position within essential infrastructure. 3,79
Slide 5: Executing for and trusted by industry leaders
INVESTOR PRESENTATION Executing for and trusted by industry leaders 5
Slide 6: Positioned where demand is the strongest
INVESTOR PRESENTATION Positioned where demand is the Seattle strongest Portland Chicago An irreplaceable supply-constrained Columbus footprint aligning consumption, Reno Denver Indianapolis NY / NJ labor and transportation. SF Bay Louisville Cincinnati Baltimore / DC Area Las Vegas Nashville Raleigh
Slide 7: A proven development engine
INVESTOR PRESENTATION A proven development engine Prologis track record1 2001-2025 Global In the U.S Outside the U.S. Investment $49.5B $16.4B $33.1B A deep pipeline underpins visibility into long-term value Square feet 579M 208M 371M Value creation $14.2B $5.4B $8.8B $42B creation Margin 28.6% 32.6
Slide 8: Uniquely positioned to power sites for data centers
INVESTOR PRESENTATION Uniquely positioned to power sites for data centers Our land, power access and entitlement expertise create optionality that few platforms possess. 5.6GW Total power pipeline Utility-fed power capacity that is subject to binding agreements Utility-fed power capacity that is not
Slide 9: A distinct value creation opportunity for shareholders
INVESTOR PRESENTATION A distinct value creation opportunity for shareholders Progress since 2023: Delivering next-generation, pre-leased data centers with long- term contractual visibility. $3B+ Starts Illustrative data center development economics $1B+ Typical Annual avg Monetized project start vol
Slide 10: Addressing the most urgent energy challenges for our customers
INVESTOR PRESENTATION Addressing the most urgent energy challenges for our customers Providing power and resiliency to mission-critical operations with 1.3GW of solar and storage deployed. Onsite Solar Energy Storage OnPrem Power EV Charging Note: Data as of March 31, 2026. 10
Slide 11: Anchored by a fortress balance sheet and a leading asset management platform
INVESTOR PRESENTATION Anchored by a fortress balance sheet and a leading asset management platform Balance Sheet A2/A rated with $6.7B of liquidity 24% 4.8x 6.4x 3.3% 96% Debt as % of gross Debt / adjusted- Fixed charge Wtd avg interest USD exposure market cap*1 EBITDA*2 coverage ratio*2 rate, 8.1 y
Slide 12: Compounding shareholder capital through a self-funding model
INVESTOR PRESENTATION Compounding shareholder capital through a self-funding model A financial algorithm designed to produce enduring and compelling growth in earnings and intrinsic value. Organic Growth + Value Creation + AUM Growth = Normalized Target Supported by low Driven by the Generating dura
Slide 13: A proven model with a long record of outperformance
INVESTOR PRESENTATION A proven model with a long record of outperformance Identify the Create the value 10-year cumulative shareholder return1 opportunity Prologis (PLD) 316% Invest Serve the S&P 500 REITs 48% globally customer REIT Sector2 REIT Sector2 29% S&P 500 - Equal Weighted 155% 10-year Divi
Slide 14: A premier franchise expanding its moat
INVESTOR PRESENTATION A premier franchise expanding The implied valuation highlights embedded platform upside for future development its moat Illustrative Sum of the Parts ($B)1 + Real estate2 $153 $145 $138 + Development3 $11 $11 $11 + Strategic Capital4 $7 $7 $7 + Other5 + Debt MTM6 $11 $11 $11 +
Slide 15: Why we win
INVESTOR PRESENTATION Why we win 1. Scale into Cash Flow Turning global opportunity into predictable earnings. 2. Invest Through Cycles Deploying capital with discipline and balance sheet strength. 3. Compound Shareholder Value Delivering durable long-term growth in dividends and intrinsic value. 15
Slide 16: Recognized for excellence
INVESTOR PRESENTATION Recognized for excellence Fortune World’s Most Admired Corporate Knights Global 100 Forbes Net Zero Leaders (2025) Companies (2025-26) Most Sustainable Companies (2026) Green Star Recognition (2025): Nareit Investor CARE Award Prologis and six of our co- Gold in the Large Cap c
Slide 17: €*; PROLOGIS’
€*; PROLOGIS’