Investor Relations Q1 2023 Deck

INVESTOR RELATIONS PROLOGIS Strong balance sheet enables opportunistic investments PROLOGIS DEBT METRICS - Q1 2023 Debt as % of Gross Market Cap* 19.1% Debt / Adjusted-EBITDA*1 USD Net Equity Exposure Liquidity 96% 4.3X $5.7B Fixed Charge Coverage Ratio* 9.9X Investment Capacity $20.6B EARNINGS FX EXPOSURE - % USD OR HEDGED 98% 2023E 98% 2024E 97% 97% 2025E 2026E *This is a non-GAAP financial measure. Please see Notes and Definitions included in our Q1 2023 Supplemental for further explanation. Note: Data as of March 31, 2023. 1. Includes development gains. 2. Includes leverage capacity post-committed equity capital of Prologis and its open-ended funds at current credit ratings. 3. A securities rating is not a recommendation to buy, sell or hold securities and is subject to revision or withdrawal at any time by the rating agency. 4. Includes issuances by co-investment ventures. 95% • • • • A3/A rated by Moody's/S&P³ Weighted average interest rate of 2.6% Floating rate debt is less than 10% of total debt Leading Green Bond issuer with 19 issuances to date4 FX earnings exposure is predominantly in USD or hedged over the coming years, shielding FX risk 2027E 23

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