Investor Relations Update Q1 2023

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

View entire presentation