Prologis — Apr 16, 2025 release

The expense relates to amortization of stock compensation issued to employees related to promote income recognized in prior periods. Highlights dollars in millions, except per share amounts 2025 Guidance Low High Net earnings attributable to common stockholders(B) $ 3.45 $ 3.70 Core FFO attributable to common stockholders/unitholders*(B) $ 5.65 $ 5.81 Core FFO attributable to common stockholders/unitholders, excluding Net Promote Income (Expense)*(C) $ 5.70 $ 5.86 Operations Average occupancy - Prologis Share 94.50 % 95.50 % Same store NOI - cash - Prologis Share* 4.00 % 5.00 % Same store NOI - net effective - Prologis Share* 3.50 % 4.50 % Other Assumptions Strategic capital revenue, excluding promote revenue $ 560 $ 580 Net Promote Income (Expense) $ (50) $ (50) General & administrative expenses $ 450 $ 470 Realized development gains $ 100 $ 250 Capital Deployment PROLOGIS SHARE OWNED AND MANAGED Low High Development stabilizations $ 1,900 $ 2,300 $ 2,000 $ 2,500 Development starts $ 1,500 $ 2,000 $ 1,500 $ 2,000 Acquisitions $ 750 $ 1,250 $ 1,250 $ 1,750 Dispositions $ 250 $ 500 $ 250 $ 500 Contributions $ 150 $ 500 $ 250 $ 750 Exchange Rates We have hedged the rates for the majority of our estimated 2025 Euro, Sterling and Yen Core FFO, effectively insulating 2025 results from FX movements in these currencies. For purposes of capital deployment and other metrics, we assumed effective rates for EUR, GBP and JPY of 1.08 ($/€), 1.29 ($/£) and 149.42 (¥/$