Prologis Investor Relations Q1 2023

INVESTOR RELATIONS PROLOGIS Low market vacancy is supportive of continued rent growth U.S. FUNDAMENTALS Vacancy (%) 10.0 8.0 6.0 4.0 2.0 Rent Growth (RHS) Vacancy (LHS) Rent Growth (%) 50 40 40 30 20 10 10 0.0 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023F Source: CBRE, JLL, Cushman & Wakefield, Colliers, CoStar, CBRE-EA, Prologis Research as of March 31, 2023. 8

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