Investor Relations Update Q1 2023

INVESTOR RELATIONS Unique, scalable business model Rental Operations • 1.2B square feet Owned and Managed • 86% U.S./ 14% Outside the U.S. • Lease term average of 5 years with ~3% annual rent escalators • Organic same-store NOI* growth • Lease Mark-to-Market* represents nearly $3 per share of incremental earnings and FFO* (>50% growth from 2023 FFO guidance) $5.2B Generated in annual NOI*1 • Strategic Capital $91B total AUM ($60B third-party AUM) . 9 funds (5 open end, 2 public, 2 closed end) 21% U.S./ 79% Outside the U.S. Recurring asset management fees • Promote opportunities • FX management PROLOGIS Prologis development contributions to funds allows for capital recycling Development Platform . $40B developed over past 20+ years • 63% U.S./ 37% Outside the U.S. . Current $6.8B development portfolio $0.8B Produced in recurring fees and promotes² $11B estimated Value Creation³ over past 20+ years Current land bank supports $38B of total investment (~$10B already entitled) * This is a non-GAAP financial measure. NOI reflects Net Operating Income. Please see Notes and Definitions included in this presentation and in our Q1 2023 Supplemental for further explanation. 1. 1Q 2023 Prologis Share of NOI of the Operating Portfolio annualized. 2. 1Q 2023 third-party share of asset management fees annualized plus trailing twelve months third-party share of transactional fees and Net Promote Income. 3. Estimated Value Creation is calculated as the amount by which our value exceeds our TEI and does not include any fees or promotes we may earn. 16

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