Digital Realty — Oct 24, 2024 release

The assumptions underlying the outlook are summarized in the following table. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​     As of     As of     As of     As of      Top-Line and Cost Structure ​ February 15, 2024 ​ May 2, 2024 ​ July 25, 2024 ​ October 24, 2024 ​ Total revenue ​ $5.550 - $5.650 billion ​ $5.550 - $5.650 billion ​ $5.550 - $5.650 billion ​ $5.550 - $5.600 billion ​ Net non-cash rent adjustments (1) ​ ($35 - $40 million) ​ ($35 - $40 million) ​ ($35 - $40 million) ​ ($25 - $30 million) ​ Adjusted EBITDA ​ $2.800 - $2.900 billion ​ $2.800 - $2.900 billion ​ $2.800 - $2.900 billion ​ $2.925 - $2.975 billion ​ G&A ​ $450 - $460 million ​ $450 - $460 million ​ $450 - $460 million ​ $455 - $460 million ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​  Internal Growth ​ ​ ​ ​ ​ ​ ​ ​ ​ Rental rates on renewal leases ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash basis ​ 4.0% - 6.0% ​ 5.0% - 7.0% ​ 5.0% - 7.0% ​ 8.0% - 10.0% ​ GAAP basis ​ 6.0% - 8.0% ​ 7.0% - 9.0% ​ 7.0% - 9.0% ​ 12.0% - 14.0% ​ Year-end portfolio occupancy ​ +100 - 200 bps ​ +100 - 200 bps ​ +100 - 200 bps ​ +150 - 200 bps ​ "Same-Capital" cash NOI growth (2) ​ 2.0% - 3.0% ​ 2.5% - 3.5% ​ 2.5% - 3.5% ​ 2.75% - 3.25% ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Exchange Rates ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Dollar / Pound Sterling ​ $1.25 - $1.30 ​ $1.25 - $1.30 ​ $1.25 - $1.30 ​ $1.25 - $1.30 ​ U.S. Dollar / Euro ​ $1.05 - $1.10 ​ $1.05 - $1.10 ​ $1.05 - $1.10 ​ $1.05 - $1.10 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​  External Growth ​ ​ ​ ​ ​ ​ ​ ​ ​ Dispositions / Joint Venture Capital ​ ​ ​ ​