Investor Relations Update

INVESTOR RELATIONS PROLOGIS E-commerce is a structural shift driving logistics demand E-COMMERCE SALES PENETRATION %, U.S. E-commerce as a percent of retail goods sold¹ 35 30 25 20 15 10 5 E-commerce penetration expected to increase by an average of 1 percentage point per year over the next 5 years E-COMMERCE WAREHOUSE USE SF per $B of sales² ~3X 351k E-commerce uses 3x as much logistics space as brick-and-mortar 1,119k 0 2010 2014 2018 2022 2026F Brick-and -mortar E-commerce 1. Source: U.S. Census Bureau, Euromonitor, Prologis Research forecast. 2. Source: Company 10-K reports. Data is collected from approximately 30 major U.S. retailers. མི་ Higher product variety Greater inventory Individual B2C shipping Reverse logistics 4

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