Investor Relations Update
INVESTOR RELATIONS
PROLOGIS
Premier institutional Strategic Capital real estate franchise
GROWTH IN THIRD-PARTY AUM¹
$ in Billions
15
75
60
60
45
30
15
17% AUM CAGR
GROWTH IN THIRD-PARTY FEE RELATED EARNINGS²
•
$ in Millions
400
300
200
100
24% FRE CAGR
0
0
2014
2016
2018
2020
2022
2014
2016
2018
2020
2022
•
Reputable, long-term
partner with ~140
institutional investors
Resilient investor base
over the long-term with
nominal redemptions
historically
~75% margin on fee
related revenues
Asset values marked-to-
•
market every quarter with
fees based on third-party
appraisals
Note: Data as of December 31, 2022.
1. AUM (fee earning) represents estimated fair value of real estate owned by third-parties and managed by Prologis through both our consolidated and unconsolidated entities; this is third-party investors' share of
the estimated fair value of assets in co-investment ventures.
2. Third-party fee related earnings include asset management and related transactional fees. Asset management fees reflect Q4 annualized. Transactional fees and expenses reflect trailing twelve months.
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