Slide 1: Investor Presentation Q2 2026
Investor Presentation Q2 2026 © 2026 Equinix, Inc. 1
Slide 2: Public Disclosure Statement
Public Disclosure Statement Forward-Looking Statements Except for historical information, this presentation contains forward-looking statements which include words such as “believe,” “anticipate,” and “expect.” These forward-looking statements involve risks and uncertainties that may cause Equinix’s
Slide 3: Contents and Key Themes
Contents and Key Themes 1. Company Overview • Worlds digital infrastructure company • Track record of growth and profitability • Essential to AI advancement • Strong bookings momentum • Strategic focus is meeting the moment 2. Business Update • Most global and comprehensive ecosystem • High-quality
Slide 4: Company Overview
Company Overview © 2026 Equinix, Inc. 4
Slide 5: Positioned for the Multi-Year Data Infrastructure Investment Cycle
1. Company Overview 2. Business Update 3. Recent Highlights & Outlook Update Positioned for the Multi-Year Data Infrastructure Investment Cycle (1) AI-driven enterprise technology ecosystems are growing more distributed, which plays to Equinix’s unique strengths Enterprise Customer Requirements Netw
Slide 6: A Track Record of Growth and Profitability
1. Company Overview 2. Business Update 3. Recent Highlights & Outlook Update A Track Record of Growth and Profitability (1) Enabling broader technological advancement and evolution Fabric Cloud Router Revenues Adj. EBITDA AI Equinix Fabric® On-Ramps Hybrid and Multi-Cloud Remote Internet Exchange Wo
Slide 7: Equinix's Metro Edge is Essential to AI Processing
1. Company Overview 2. Business Update 3. Recent Highlights & Outlook Update Equinix’s Metro Edge is Essential to AI Processing Infrastructure and ecosystem enable the shift from AI training to inference 8 of the top 10 AI model providers and 8 of the top 10 neoclouds are actively expanding with Equ
Slide 8: Strong Bookings Momentum Driving Our Growth Trajectory
1. Company Overview 2. Business Update 3. Recent Highlights & Outlook Update Strong Bookings Momentum Driving Our Growth Trajectory Customer demand is broad-based and includes momentum from emerging customer AI use cases +23% Quarterly Gross Bookings - Annualized $474 $424 $394 $378 $348 $345 $334 $
Slide 9: Our Strategic Focus
1. Company Overview 2. Business Update 3. Recent Highlights & Outlook Update Our Strategic Focus Executing to meet the moment Our Strategy Serve Better Solve Smarter Build Bolder Run Simpler Grow Together Accelerating Improving Increasing Optimizing Speed and Fostering Employee and Bookings Yields C
Slide 10: Future First Sustainability
1. Company Overview 2. Business Update 3. Recent Highlights & Outlook Update Future First Sustainability (1) Our digital infrastructure fosters positive change through critical, secure, efficient and responsible solutions Grow Our Digital Drive Social Progress Lead With Integrity Infrastructure Sust
Slide 11: Business Update
Business Update © 2026 Equinix, Inc. 11
Slide 12: The Most Global and Comprehensive Digital Ecosystem
1. Company Overview 2. Business Update 3. Recent Highlights & Outlook Update The Most Global and Comprehensive Digital Ecosystem Providing the infrastructure reach needed for today’s distributed, complex and demanding workloads 282 36.3M 77 36 230 10,500+ 522,000+ (1) Data Centers Gross Square Feet
Slide 13: Equinix Data Centers At-a-Glance
1. Company Overview 2. Business Update 3. Recent Highlights & Outlook Update Equinix Data Centers At-a-Glance Secure and reliable data centers that uniquely serve customers’ critical technology infrastructure needs Revenue generated from space, power, interconnection and services Owned and leased st
Slide 14: Large and Diversified Customer Base
1. Company Overview 2. Business Update 3. Recent Highlights & Outlook Update Large and Diversified Customer Base Top 10 Customers (2) Highly distributed customer base that reflects the critical needs we serve Customer Region Rank % of MRR IBX Count Type Count (1) Customers in Multiple Locations 1 Cl
Slide 15: Leading Stabilized Data Center Performance
1. Company Overview 2. Business Update 3. Recent Highlights & Outlook Update (1)(2) Leading Stabilized Data Center Performance Capital allocation, development and operating advantages drive growth and returns well above industry norms Stabilized, Expansion and New IBX Data Centers Stabilized Data Ce
Slide 16: A Fixed and Predictable Cost Model
1. Company Overview 2. Business Update 3. Recent Highlights & Outlook Update A Fixed and Predictable Cost Model (1) Cash Cost of Revenues and Cash SG&A Utilities Cost as a % of Revenues 5% 20% 37% 15% 14% 15% 14% 13% 14% 13% 13% 12% 12% 6% Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26
Slide 17: Retail IBX Data Center Expansion
1. Company Overview 2. Business Update 3. Recent Highlights & Outlook Update Retail IBX Data Center Expansion Expanding to meet robust global demand in a target market where we our value proposition is differentiated Announced Expansions 2026 2027 2028 2029 Total Capex (1) Metro Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 18: xScale Data Center Expansion
1. Company Overview 2. Business Update 3. Recent Highlights & Outlook Update xScale Data Center Expansion xScale broadens our service of high-quality hyperscaler customers Phase Phase Phase Cost 440+ 23 13 Region Project Opening ($M) Capacity (MW) Leasing (MW) 575+ MW Leased 23 Operational Facilitie
Slide 19: A Growth-Focused Balance Sheet
1. Company Overview 2. Business Update 3. Recent Highlights & Outlook Update A Growth-Focused Balance Sheet (1) Investment grade rated with global capital access Debt by Currency (8) Recent Capital Markets Activity • Issued C$650M of CAD notes due 2030 with an effective coupon of ~3.02% (2) 21% • Is
Slide 20: Debt Maturities
1. Company Overview 2. Business Update 3. Recent Highlights & Outlook Update Debt Maturities (1) 3.0% blended borrowing rate with 6.4 year weighted average maturity USD Senior Notes EUR Senior Notes CHF Senior Notes Green Notes SGD Senior Notes CAD Senior Notes JPY Senior Notes $5B Managing our Matu
Slide 21: Recent Highlights & Outlook Update
Recent Highlights & Outlook Update © 2026 Equinix, Inc. 21
Slide 22: Translating Our Strategy into Results
1. Company Overview 2. Business Update 3. Recent Highlights & Outlook Update Translating Our Strategy into Results Driving strong performance and an improved outlook • Delivered record Q2 annualized gross bookings, up 23% YoY, Serve Accelerating Bookings with second-strongest presales activity, up o
Slide 23: 2026 Financial Guidance
1. Company Overview 2. Business Update 3. Recent Highlights & Outlook Update 2026 Financial Guidance (1) Raised outlook driven by strong underlying business fundamentals and focused execution ($M except AFFO per Share) FY 2026 Q3 2026 $10,205 - 10,285 (2) $2,525 - 2,575 (3) Revenues 11 - 12% (4) 10
Slide 24: Q3 2026 Guidance ($M)
1. Company Overview 2. Business Update 3. Recent Highlights & Outlook Update Q3 2026 Guidance ($M) (1) Revenue increasing 11% YoY at the mid-point of guidance Adjusted EBITDA Margin Revenues Adjusted EBITDA 50% ~51% +10 - 12% $2,525 - 2,575 +11 - 14% $1,275 - 1,315 $2,316 $2,302 ($14) $1,148 $1,149
Slide 25: Full-Year 2026 Guidance ($M)
1. Company Overview 2. Business Update 3. Recent Highlights & Outlook Update Full-Year 2026 Guidance ($M) (1) Normalized Total Revenue growth (3) Record underlying revenue and adjusted EBITDA raises, reflecting continued momentum and margin accretion Normalized MRR growth (3) Adjusted EBITDA Margin
Slide 26: Full-Year 2026 AFFO Guidance ($M, except per share)
1. Company Overview 2. Business Update 3. Recent Highlights & Outlook Update (1)(2)(3) Full-Year 2026 AFFO Guidance ($M, except per share) Record $50M Underlying AFFO raise, increasing per share growth guidance to 10 - 12% (9 - 11% prior) Share Count (Diluted) AFFO per Share (Diluted) Normalized AFF
Slide 27: Dividend Outlook
1. Company Overview 2. Business Update 3. Recent Highlights & Outlook Update Dividend Outlook Operating and financial performance drives strong dividend growth Annual Cash Dividend per Share Annual Total Cash Dividends Paid ($M) Expected 2026 Cash Dividend of ~$2,039M • Third quarter cash dividend o
Slide 28: A Strong Long-Term Outlook
1. Company Overview 2. Business Update 3. Recent Highlights & Outlook Update A Strong Long-Term Outlook Improved outlook on better-than-expected demand, accelerating bookings and presales, and continued execution Updated Outlook Strategic Pillars Prior Outlook (1) 2027-2029 Serve Better Total Revenu
Slide 29: Appendix
Appendix © 2026 Equinix, Inc. 29
Slide 30: Data Center Portfolio Composition – AMER
Data Center Portfolio Composition – AMER Metro Count Stabilized Expansion New Acquisition xScale Owned Leased Change Summary (1) Atlanta 2 AT1, AT4 AT4 AT1 Bogota 2 BG1 BG2 BG1, BG2 Boston 1 BO2 BO2 Calgary 3 CL1, CL2 CL3 CL3 CL1, CL2 New IBX Chicago 6 CH1, CH3, CH4, CH7 CH2 CH5 CH3, CH5 , CH7 CH1,
Slide 31: Data Center Portfolio Composition – EMEA
Data Center Portfolio Composition – EMEA Metro Count Stabilized Expansion New Acquisition xScale Owned Leased Change Summary (1) Abidjan 1 AB1 AB1 Abu Dhabi 1 AD1 AD1 Accra 1 AC1 AC1 Amsterdam 9 AM1, AM2, AM3, AM4, AM5, AM6, AM7, AM8, AM11 AM1*, AM2*, AM3*, AM4*, AM5, AM6, AM8, AM11 New IBX Barcelon
Slide 32: Data Center Portfolio Composition – APAC
Data Center Portfolio Composition – APAC Metro Count Stabilized Expansion New Acquisition xScale Owned Leased Change Summary (1) Adelaide 1 AE1 AE1 Brisbane 1 BR1 BR1 Canberra 1 CA1 CA1* Chennai 1 CN1 CN1 Acquisition to Stabilized Hong Kong 6 HK2, HK3, HK4, HK5 HK1 HK6 HK1, HK2, HK3, HK4, HK5, HK6 M
Slide 33: Non-GAAP Reconciliations
Non-GAAP Reconciliations © 2026 Equinix, Inc. 33
Slide 34: Non-GAAP Reconciliations
Non-GAAP Reconciliations © 2026 Equinix, Inc. 34
Slide 35: Non-GAAP Reconciliations
Non-GAAP Reconciliations © 2026 Equinix, Inc. 35
Slide 36: Non-GAAP Reconciliations
Non-GAAP Reconciliations © 2026 Equinix, Inc. 36
Slide 37: Non-GAAP Reconciliations
Non-GAAP Reconciliations Consolidated NOI calculation Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 (unaudited and in millions) Revenues 2,625 2,444 2,420 2,316 2,256 Non-Recurring Revenues (NRR) (1) 115 96 100 98 102 (2) Other Revenues 178 64 71 53 57 (1) Recurring Revenues 2,332 2,285 2,249 2,166 2,098
Slide 38: Non-GAAP Reconciliations
Non-GAAP Reconciliations (unaudited and in millions) Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 (1) Adjusted EBITDA 1,396 1,245 1,186 1,148 1,129 Adjustments: Non-Recurring Revenues (NRR) (2) (115) (96) (100) (98) (102) (3) Other Revenues (178) (64) (71) (53) (57) (2) Non-Recurring Cash Cost of Revenue
Slide 39: Definitions
Definitions Funds from Operations (FFO): Represents net income attributable to common stockholders excluding: • gain or loss from the disposition of real estate assets • depreciation and amortization expense on real estate assets • adjustments for unconsolidated joint ventures' and non-controlling i
Slide 40: Definitions - Continued
Definitions - Continued Normalized and Constant Currency: Equinix provides normalized and constant currency growth rates for revenues, adjusted EBITDA, AFFO and AFFO per share. These growth rates assume foreign currency rates remain consistent across comparative periods. Revenue growth rates exclude
Slide 41: Definitions - Continued
Definitions - Continued Capital Expenditures Recurring Capital Expenditures: Capital spending incurred to extend useful life of IBXs or other Equinix assets that are required to support current revenues. ▪ Sustaining IT & Network: Capital spending necessary to extend useful life of IT & Network infr
Slide 42: Equinix
un. EQUINIX