Investor Relations Update Q1 2023

INVESTOR RELATIONS PROLOGIS Premier institutional Strategic Capital real estate franchise GROWTH IN THIRD-PARTY AUM¹ $ in Billions 15 75 60 60 45 30 15 15% AUM CAGR GROWTH IN THIRD-PARTY FEE RELATED EARNINGS² • $ in Millions 400 300 200 100 20% FRE CAGR 0 0 2014 2017 2020 2023 2014 2017 2020 2023 • Reputable, long-term partner with 140 • institutional investors Resilient investor base over the long-term with nominal redemptions historically ~75% margin on fee related revenues Asset values marked-to- market every quarter with fees based on 3P appraisals Note: Data as of March 31, 2023. 1. AUM (fee earning) represents estimated fair value of real estate owned by third-parties and managed by Prologis through both our consolidated and unconsolidated entities; this is third-party investors' share of the estimated fair value of assets in co-investment ventures. 2. Third-party fee related earnings include asset management and related transactional fees. Asset management fees reflect Q4 annualized for each year and Q1 annualized for 2023. Transactional fees and expenses reflect trailing twelve months. 18

View entire presentation