Attractive Relative Valuation of Prologis
INVESTOR RELATIONS
Strong positioning in current macro environment
VACANCY RATE¹
%
8.0%
6.0%
4.0%
2.0%
PROLOGIS
NET LEVERAGE, INDUSTRIAL REITS³
LEASE MARK-TO-MARKET, PLD SHARE*2
%, Net Effective Rent
%
80%
2007
2022
0.0%
U.S.
60%
60
45
45
40%
30
20%
0%
EU
2007
2022
* This is a non-GAAP financial measure. Please see Notes and Definitions included in this presentation and in our Q1 2023 Supplemental for further explanation.
1. Source: CBRE, JLL, Cushman & Wakefield, Colliers, CoStar, CBRE-EA, Prologis Research as of March 31, 2023.
2. Source: Prologis portfolio as of March 31, 2023.
15
0
2007
2022
3. Source: Green Street. Net leverage reflects debt as a percentage of gross market capitalization. Please see Notes and Definitions included in our Q1 2023 Supplemental for further explanation.
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