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Investor Presentaiton

INVESTOR RELATIONS PROLOGIS Current supply and demand dynamics support rent growth U.S. TRUE MONTHS OF SUPPLY (TMOS)¹ Months 100 75 50 50 25 25 Rent Growth (RHS) True Months of Supply (LHS) Rent Growth (%) 40 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023F Existing vacant stock + True Months of Supply Unleased development pipeline Trailing 4-quarter net absorption per month Source: CBRE, JLL, Cushman & Wakefield, Colliers, CoStar, CBRE-EA, Prologis Research as of March 31, 2023. 1. See Prologis Research Paper for additional details on True Months of Supply (TMOS). Current TMOS is 30 months. Historical average TMOS in our 31 U.S. markets in expansionary periods is 36 months - anything less than 50 months is consistent with real rent growth 30 20 10 10 10
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