Investor Presentaiton

INVESTOR RELATIONS Exceptionally low-cost operating structure ADJUSTED G&A*1% OF GROSS BOOK VALUE AUM² ADJUSTED G&A*1 % OF MARKET VALUE AUM³ % FMV ($B) % 0.90% 250 0.90% IAUM G&A as % of AUM 0.80% 0.80% 0.70% 0.60% 0.50% 200 0.70% • 0.60% • 150 0.50% 0.40% 0.40% • 100 0.30% 0.30% 0.20% 0.10% 0.20% 50 0.10% PROLOGIS Scalable platform due to early investments in technology infrastructure and synergies from strategic acquisitions Reduced adjusted G&A % of gross book value AUM* from 85bps to 33bps since 2011 Most efficient despite investments in innovation and new lines of business PLD adjusted G&A¹ load is 50% less than the other logistics REITs³ and 60% less than Blue Chips4 0.00% 0 0.00% 2011 2014 2017 2020 1Q23 PLD * This is a non-GAAP financial measure. Please see reconciliation in our Q1 2023 Supplemental for further explanation. Other National Logistics REITs³ Blue Chips 1. Adjusted G&A reflects net TTM G&A expense each year plus TTM strategic capital expenses (excluding promote expenses) less TTM strategic capital property management expenses. 2. AUM based on fair market value and Adjusted G&A as % of AUM based on Book Value AUM as of March 31, 2023. Market value AUM is total enterprise value plus JV debt as of March 31, 2023. 3. Includes EGP, FR, and STAG. 4. Includes AVB, BXP, EQIX, FRT, HST, PSA, and SPG. 22 22

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