Prologis — Jan 21, 2026 release

SPACE UTILIZATION percent Prologis Leading Indicators and Proprietary Metrics* Highlights 101 Average 81 55.3 Average 57.7 54 Average 54 85.1% Average 85.4% Average 40% 35% Net rentable area of proposals Proposals as a % of available net rentable area * Please see our Notes and Definitions for further explanation. Guidance(A) Highlights dollars in millions, except per share amounts 2026 Guidance Low High Net earnings attributable to common stockholders(B) $ 3.70 $ 4.00 Core FFO attributable to common stockholders/unitholders*(B) $ 6.00 $ 6.20 Core FFO attributable to common stockholders/unitholders, excluding Net Promote Income (Expense)*(B) $ 6.05 $ 6.25 Operations Average occupancy - Prologis Share 94.75 % 95.75 % Same store NOI - cash - Prologis Share* 5.75 % 6.75 % Same store NOI - net effective - Prologis Share* 4.25 % 5.25 % Other Assumptions Strategic capital revenue, excluding promote revenue $ 650 $ 670 Net Promote Income (Expense) $ (50) $ (50) General & administrative expenses $ 500 $ 520 Realized development gains $ 400 $ 600 Capital Deployment PROLOGIS SHARE OWNED AND MANAGED Low High Development stabilizations $ 2,250 $ 2,750 $ 2,500 $ 3,000 Development starts $ 3,000 $ 4,000 $ 4,000 $ 5,000 Acquisitions $ 1,000 $ 1,500 $ 2,000 $ 3,000 Dispositions $ 1,750 $ 2,250 $ 2,500 $ 3,000 Contributions $ 1,500 $ 2,000 $ 2,500 $ 3,000 Exchange Rates We have hedged the rates for the majority of our estimated 2026 Euro, Sterling and Yen Core FFO, effectively insulating 2026 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 1.18 ($/€), 1