Prologis Supplemental Information SECOND QUARTER 2026 Unaudited Prologis Park Illingen, Illingen, Germany

Contents Highlights 3 Company Profile 5 Company Performance 7 Prologis Leading Indicators and Proprietary Metrics 8 Guidance Financial Information 9 Consolidated Balance Sheets 10 Consolidated Statements of Income 11 Reconciliations of Net Earnings to FFO 12 Reconciliations of Net Earnings to Adjusted EBITDA Operations 13 Overview 14 Operating Metrics 16 Operating Portfolio 19 Customer Information Capital Deployment 20 Overview 21 Development Stabilizations 22 Development Starts 23 Development Portfolio 24 Third-Party Acquisitions 25 Dispositions and Contributions 26 Land Portfolio 28 Solar and Energy Storage Portfolios Strategic Capital 29 Overview 30 Summary of Co-Investment Ventures 31 Operating and Balance Sheet Information of the Unconsolidated Co-Investment Ventures 32 Non-GAAP Pro-Rata Financial Information Capitalization 33 Overview 34 Debt Components - Consolidated 35 Debt Components - Noncontrolling Interests and Unconsolidated Net Asset Value 36 Components Notes and Definitions 38 Notes and Definitions

$40.6B Build Out of Land (TEI) * This is a non-GAAP financial measure. Please see our Notes and Definitions for further explanation. NOI calculation based on Prologis Share of the Operating Portfolio. Overview Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At June 30, 2026, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.3 billion square feet (122 million square meters) in 20 countries. Prologis leases modern logistics facilities to a diverse base of approximately 6,500 customers principally across two major categories: business-to-business and retail/online fulfillment. 5,929 Buildings 1.3B Square Feet Europe 264M SF 9% of NOI*(A) Asia 116M SF 2% of NOI*(A) U.S. 810M SF 84% of NOI*(A) Other Americas 127M SF 5% of NOI*(A)

Company Profile Highlights OPERATIONS $7.0B in annual NOI*(A) DEVELOPMENT $740M in value creationfrom stabilizations(C) GROSS AUM $240B DATA CENTER POWER PIPELINE 5.8GW secured or in advanced stage(E) MARKET EQUITY $129B STRATEGIC CAPITAL $412M of fees and promotes(B) (D) (D) * This is a non-GAAP financial measure. Please see our Notes and Definitions for further explanation. Q2 2026 Prologis Share of NOI of the Operating Portfolio annualized. Q2 2026 third-party share of asset management fees annualized plus trailing twelve months third-party share of transactional fees and Net Promote Income (Expense). Prologis Share of trailing twelve month Estimated Value Creation from development stabilizations. Mexico is included in the U.S. as it is U.S. dollar functional. Our Power Pipeline is comprised of 1.6GW Secured Power (including 680MW under development) and 4.2GW Advanced Stage Power. Please see our Notes and Definitions for further explanation.

Company Performance Highlights NET EARNINGS ATTRIBUTABLE TO COMMON STOCKHOLDERS CORE FFO ATTRIBUTABLE TO COMMON STOCKHOLDERS/UNITHOLDERS* AFFO ATTRIBUTABLE TO COMMONSTOCKHOLDERS/UNITHOLDERS* dollars in millions, except per share/unit data Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Rental and other revenues $ 2,183 $ 2,037 $ 4,321 $ 4,036 Strategic capital revenues 242 147 402 288 Total revenues 2,425 2,184 4,723 4,324 Net earnings attributable to common stockholders 1,061 570 2,041 1,161 Core FFO attributable to common stockholders/unitholders* 1,559 1,396 3,000 2,752 AFFO attributable to common stockholders/unitholders* 1,323 1,036 2,795 2,120 Adjusted EBITDA attributable to common stockholders/unitholders* 2,143 1,789 4,321 3,561 Estimated value creation from development stabilizations - Prologis Share 89 64 477 304 Common stock dividends and common limited partnership unit distributions 1,027 966 2,053 1,931 Per common share - diluted: Net earnings attributable to common stockholders $ 1.13 $ 0.61 $ 2.18 $ 1.25 Core FFO attributable to common stockholders/unitholders* 1.63 1.46 3.13 2.88 Core FFO attributable to common stockholders/unitholders, excluding Net Promote Income (Expense)* 1.60 1.47 3.12 2.91 Business line reporting: Real estate* 1.54 1.40 2.99 2.76 Strategic capital* 0.09 0.06 0.14 0.12 Core FFO attributable to common stockholders/unitholders* 1.63 1.46 3.13 2.88 Realized development gains, net of taxes* 0.09 0.01 0.39 0.04 Dividends and distributions per common share/unit 1.07 1.01 2.14 2.02 * This is a non-GAAP financial measure. Please see reconciliations from Net Earnings Attributable to Common Stockholders on page 8 and reference our Notes and Definitions for further explanation.

NET EARNINGS ATTRIBUTABLE TO COMMON STOCKHOLDERS in millions CORE FFO ATTRIBUTABLE TO COMMON STOCKHOLDERS/UNITHOLDERS* in millions AFFO ATTRIBUTABLE TO COMMON STOCKHOLDERS/UNITHOLDERS* in millions Highlights Company Performance DIVIDENDS AND DISTRIBUTIONS in millions * This is a non-GAAP financial measure. Please see reconciliations from Net Earnings Attributable to Common Stockholders on page 8 and reference our Notes and Definitions for further explanation.

LEASE PROPOSALS in millions of square feet U.S. IBI ACTIVITY INDEX diffusion index, points NEW LEASE NEGOTIATION GESTATION in days U.S. SPACE UTILIZATION percent Prologis Leading Indicators and Proprietary Metrics* Highlights 129 Average 84 60.1 Average 57.7 48 Average 54 84.4% Average 85.3% Average 40% 42% 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) $ 4.40 $ 4.55 Core FFO attributable to common stockholders/unitholders*(B) $ 6.22 $ 6.30 Core FFO attributable to common stockholders/unitholders, excluding Net Promote Income (Expense)*(B) $ 6.22 $ 6.30 Operations Average occupancy - Prologis Share 95.25 % 95.75 % Same store NOI - cash - Prologis Share* 6.75 % 7.25 % Same store NOI - net effective - Prologis Share* 5.25 % 5.75 % Other Assumptions Strategic capital revenue, excluding promote revenue $ 660 $ 680 Net Promote Income (Expense) $ – $ – General & administrative expenses $ 510 $ 525 Realized development gains $ 600 $ 700 Capital Deployment PROLOGIS SHARE OWNED AND MANAGED Low High Development stabilizations $ 2,250 $ 2,750 $ 2,500 $ 3,000 Development starts $ 4,500 $ 5,500 $ 5,500 $ 6,500 Acquisitions $ 1,500 $ 2,000 $ 2,500 $ 3,500 Dispositions $ 2,250 $ 2,750 $ 3,000 $ 3,500 Contributions $ 2,000 $ 2,500 $ 3,250 $ 3,750 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 1.14 ($/€), 1.32 ($/£) and 162.44 (¥/$), respectively. * This is a non-GAAP financial measure. Please see our Notes and Definitions for further explanation. Our guidance for 2026 is based on management’s current beliefs and assumptions about our business, the industry and the markets in which we operate. Please refer to “Forward-Looking Statements” and “Risk Factors” referred to in our annual and quarterly financial statements on Forms 10-K and 10-Q filed with the Securities and Exchange Commission (“SEC”) for more information. The difference between Core FFO and Net Earnings predominately relates to real estate depreciation and amortization and gains or losses on dispositions of real estate. See the Notes and Definitions for a reconciliation.

Consolidated Balance Sheets Financial Information in thousands June 30, 2026 March 31, 2026 December 31, 2025 Assets: Investments in real estate properties: Operating properties $ 82,117,896 $ 80,875,731 $ 80,561,020 Development portfolio 2,741,535 2,492,161 3,019,009 Land 4,802,617 4,684,949 4,888,153 Other real estate investments 7,351,737 7,188,604 6,661,174 97,013,785 95,241,445 95,129,356 Less accumulated depreciation 15,783,188 15,298,353 14,729,149 Net investments in real estate properties 81,230,597 79,943,092 80,400,207 Investments in and advances to unconsolidated entities 11,467,403 11,241,723 11,093,936 Assets held for sale or contribution 498,975 499,799 203,344 Net investments in real estate 93,196,975 91,684,614 91,697,487 Cash and cash equivalents 1,765,043 861,144 1,145,647 Other assets 6,049,854 5,587,693 5,881,122 Total assets $ 101,011,872 $ 98,133,451 $ 98,724,256 Liabilities and Equity: Liabilities: Debt $ 36,442,085 $ 34,669,592 $ 35,037,073 Accounts payable, accrued expenses and other liabilities 6,450,272 5,515,367 5,933,175 Total liabilities 42,892,357 40,184,959 40,970,248 Equity: Stockholders' equity 53,725,722 53,503,401 53,193,178 Noncontrolling interests 3,304,267 3,316,274 3,316,713 Noncontrolling interests - limited partnership unitholders 1,089,526 1,128,817 1,244,117 Total equity 58,119,515 57,948,492 57,754,008 Total liabilities and equity $ 101,011,872 $ 98,133,451 $ 98,724,256

Consolidated Statements of Income Financial Information Three Months Ended Six Months Ended June 30, June 30, in thousands, except per share amounts 2026 2025 2026 2025 Revenues: Rental $ 2,177,074 $ 2,025,332 $ 4,302,158 $ 4,012,597 Strategic capital 241,619 147,162 402,431 288,301 Development management and other 6,759 11,375 18,586 22,636 Total revenues 2,425,452 2,183,869 4,723,175 4,323,534 Expenses: Rental 530,861 487,963 1,051,144 976,280 Strategic capital 95,590 64,917 177,479 125,694 General and administrative 129,626 106,871 256,516 221,572 Depreciation and amortization 689,518 657,221 1,421,024 1,309,279 Other 20,166 11,706 30,289 21,355 Total expenses 1,465,761 1,328,678 2,936,452 2,654,180 Operating income before gains on real estate transactions, net $ 959,691 $ 855,191 $ 1,786,723 $ 1,669,354 Gains on dispositions of development properties and land, net 79,196 10,477 372,179 37,928 Gains on other dispositions of investments in real estate, net 212,449 47,044 303,489 83,843 Operating income $ 1,251,336 $ 912,712 $ 2,462,391 $ 1,791,125 Other income (expense): Earnings from unconsolidated entities, net 147,470 107,692 240,766 175,591 Interest expense (276,311) (251,866) (530,597) (483,617) Foreign currency, derivative and other gains (losses) and other income (expense), net 109,663 (122,829) 154,274 (154,487) Gains (losses) on early extinguishment of debt, net (31) – (1,921) – Total other income (expense) (19,209) (267,003) (137,478) (462,513) Earnings before income taxes 1,232,127 645,709 2,324,913 1,328,612 Current income tax benefit (expense) (89,319) (27,723) (137,100) (64,424) Deferred income tax benefit (expense) (18,854) 4,318 (19,044) (2,364) Consolidated net earnings 1,123,954 622,304 2,168,769 1,261,824 Net earnings attributable to noncontrolling interests (39,062) (37,139) (79,040) (68,715) Net earnings attributable to noncontrolling interests - limited partnership units (22,701) (13,936) (45,562) (28,927) Net earnings attributable to controlling interests 1,062,191 571,229 2,044,167 1,164,182 Preferred stock dividends (1,347) (1,505) (2,847) (2,957) Net earnings attributable to common stockholders $ 1,060,844 $ 569,724 $ 2,041,320 $ 1,161,225 Weighted average common shares outstanding - Diluted 957,884 955,882 957,654 955,601 Net earnings per share attributable to common stockholders - Diluted $ 1.13 $ 0.61 $ 2.18 $ 1.25

Reconciliations of Net Earnings to FFO* * This is a non-GAAP financial measure. Please see our Notes and Definitions for further explanation. Financial Information Three Months Ended Six Months Ended June 30, June 30, in thousands 2026 2025 2026 2025 Net earnings attributable to common stockholders $ 1,060,844 $ 569,724 $ 2,041,320 $ 1,161,225 Add (deduct) NAREIT defined adjustments: Real estate related depreciation and amortization 663,658 638,199 1,369,208 1,270,885 Gains on other dispositions of investments in real estate, net of taxes (excluding development properties and land) (210,975) (46,964) (302,015) (82,771) Adjustments related to noncontrolling interests (13,356) (17,339) (24,093) (35,746) Our proportionate share of adjustments related to unconsolidated entities 132,185 133,734 283,340 284,358 NAREIT defined FFO attributable to common stockholders/unitholders* $ 1,632,356 $ 1,277,354 $ 3,367,760 $ 2,597,951 Add (deduct) our modified adjustments: Unrealized foreign currency, derivative and other losses (gains), net (5,370) 137,817 (19,639) 192,715 Deferred income tax expense (benefit) 18,854 (4,318) 19,044 2,364 Adjustments related to noncontrolling interests (215) – 497 – Our proportionate share of adjustments related to unconsolidated entities (5,437) (3,136) (6,162) (1,765) FFO, as modified by Prologis attributable to common stockholders/unitholders* $ 1,640,188 $ 1,407,717 $ 3,361,500 $ 2,791,265 Add (deduct) Core FFO defined adjustments: Gains on dispositions of development properties and land, net (79,196) (10,477) (372,179) (37,928) Current income tax expense (benefit) on dispositions 6,758 659 8,060 803 Losses (gains) on early extinguishment of debt, net 31 – 1,921 – Venture formation costs 6,049 – 6,049 – Adjustments related to noncontrolling interests – 2,748 271 2,821 Our proportionate share of adjustments related to unconsolidated entities (14,703) (4,665) (6,002) (4,948) Core FFO attributable to common stockholders/unitholders* $ 1,559,127 $ 1,395,982 $ 2,999,620 $ 2,752,013 Add (deduct) AFFO defined adjustments: Gains on dispositions of development properties and land, net 79,196 10,477 372,179 37,928 Current income tax benefit (expense) on dispositions (6,758) (659) (8,060) (803) Straight-lined rents and amortization of lease intangibles (161,152) (187,801) (326,901) (368,162) Property improvements (71,218) (68,772) (97,283) (103,139) Turnover costs (133,959) (152,242) (257,775) (275,365) Amortization of debt discount, financing costs and management contracts, net 21,986 22,209 43,386 43,321 Stock compensation amortization expense 55,148 43,984 115,780 97,145 Adjustments related to noncontrolling interests 20,001 18,594 39,629 32,576 Our proportionate share of adjustments related to unconsolidated entities (39,404) (45,863) (85,715) (95,682) AFFO attributable to common stockholders/unitholders* $ 1,322,967 $ 1,035,909 $ 2,794,860 $ 2,119,832

Reconciliations of Net Earnings to Adjusted EBITDA* * This is a non-GAAP financial measure. Please see our Notes and Definitions for further explanation. Financial Information Three Months Ended Six Months Ended June 30, June 30, in thousands 2026 2025 2026 2025 Net earnings attributable to common stockholders $ 1,060,844 $ 569,724 $ 2,041,320 $ 1,161,225 Gains on other dispositions of investments in real estate, net (excluding development properties and land) (212,449) (47,044) (303,489) (83,843) Depreciation and amortization expense 689,518 657,221 1,421,024 1,309,279 Interest charges 255,798 235,858 493,706 451,508 Current and deferred income tax expense, net 108,173 23,405 156,144 66,788 Net earnings attributable to noncontrolling interests - limited partnership units 22,701 13,936 45,562 28,927 NOI adjustments for real estate transactions 4,926 2,481 14,190 10,310 Preferred stock dividends 1,347 1,505 2,847 2,957 Unrealized foreign currency, derivative and other losses (gains), net (5,370) 137,817 (19,639) 192,715 Stock compensation amortization expense 55,148 43,984 115,780 97,145 Losses (gains) on early extinguishment of debt, net 31 – 1,921 – Venture formation costs 6,049 – 6,049 – Adjustments related to noncontrolling interests (36,884) (31,819) (70,428) (65,669) Our proportionate share of adjustments related to unconsolidated entities 192,790 182,264 415,669 389,426 Adjusted EBITDA attributable to common stockholders/unitholders* $ 2,142,622 $ 1,789,332 $ 4,320,656 $ 3,560,768

94.8% 94.7% 95.2% 95.4% 94.9% Average occupancy - Prologis Share OCCUPANCY - OWNED AND MANAGED CUSTOMER RETENTION SAME STORE CHANGE OVER PRIOR YEAR - PROLOGIS SHARE* RENT CHANGE - PROLOGIS SHARE Operations Overview 59.9% 55.0% 50.1% 43.5% 39.8% Trailing four quarters - net effective * This is a non-GAAP financial measure. Please see our Notes and Definitions for further explanation.

Operating Metrics – Owned and Managed Operations square feet in thousands Leasing Activity(A) Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Square feet of leases commenced: Operating Portfolio: Renewals 36,528 42,720 27,581 45,834 37,951 New leases 13,906 19,631 14,712 16,913 20,605 Total Operating Portfolio 50,434 62,351 42,293 62,747 58,556 Properties under development 747 3,252 1,471 3,975 3,171 Total Square Feet of Leases Commenced 51,181 65,603 43,764 66,722 61,727 Total square feet of Operating Portfolio leases commenced, including leases greater than one month 59,237 70,227 51,686 71,968 69,119 Weighted average term of leases started (in months) 56 59 61 58 62 Operating Portfolio: Trailing twelve months - square feet of leases commenced 205,637 218,996 218,329 217,825 225,947 Trailing twelve months - average % of portfolio 17.4 % 18.3 % 18.1 % 18.0 % 18.7 % Rent change (net effective) 44.2 % 42.5 % 37.5 % 27.1 % 30.4 % Rent change (net effective) - Prologis Share 53.4 % 49.4 % 43.8 % 31.9 % 36.9 % Rent change (cash) 26.7 % 24.3 % 21.8 % 13.5 % 17.0 % Rent change (cash) - Prologis Share 34.8 % 29.4 % 27.3 % 16.8 % 22.3 % PERIOD ENDING OCCUPANCY U.S. Other Americas Europe Asia Amounts exclusive of leases of less than one year, unless otherwise noted.

Operating Metrics – Owned and Managed Operations CAPITAL EXPENDITURES Thousands, except for percentages SAME STORE INFORMATION Thousands, except for percentages PROPERTY IMPROVEMENTS TURNOVER COSTS ON LEASES COMMENCED COMPOSITION OF PORTFOLIO (BY UNIT SIZE) Trailing four quarter average Per square foot ($) As a % of lease value Per square foot ($) Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Property improvements(A) $ 127,020 $ 162,406 $ 205,383 $ 55,122 $ 129,286 Tenant improvements 122,474 104,823 114,505 96,020 105,228 Leasing commissions 94,151 108,666 108,667 89,894 105,944 Total turnover costs 216,625 213,489 223,172 185,914 211,172 Total Capital Expenditures - Owned and Managed $ 343,645 $ 375,895 $ 428,555 $ 241,036 $ 340,458 Trailing four quarters - % of Operating Portfolio NOI 15.4% 15.0% 14.6% 14.2% 13.9% Weighted average ownership percentage 69.3% 70.7% 69.1% 67.8% 68.3% Total Capital Expenditures - Prologis Share $ 238,311 $ 265,774 $ 296,158 $ 163,500 $ 232,500 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Square feet 1,128,630 1,125,601 1,121,839 1,179,564 1,176,523 Average occupancy 95.4% 95.2% 95.7% 95.4% 95.3% Average occupancy - annual percentage
change (1.2%) (1.3%) (0.6%) 0.3% 0.1% Period ending occupancy 95.4% 95.4% 95.8% 95.3% 95.4% Percentage change - Prologis Share*: NOI - cash 4.9% 5.2% 5.7% 8.8% 8.5% NOI - net effective 4.8% 3.9% 4.7% 6.1% 6.4% 2.9% 3.2% 3.5% 4.1% 4.4% 92.8% 95.2% 96.3% 98.5% Period ending occupancy Free rent as a % of lease value - trailing four quarters * This is a non-GAAP financial measure. Please see our Notes and Definitions for further explanation. Property improvements exclude expenditures related to one-time, structural work on our properties.

Operating Portfolio – Square Feet, Occupied and Leased Operations # of Buildings Square Feet Occupied % Leased % square feet in thousands and ordered by Prologis Share of NOI (%) Owned and Managed Owned and Managed Prologis Share % of Total Owned and Managed Prologis Share Owned and Managed Prologis Share Southern California 554 128,338 108,239 13.5 96.6 96.4 97.8 97.8 New Jersey/New York City 205 54,127 42,676 5.3 95.2 95.4 95.2 95.4 Dallas/Ft. Worth 279 61,183 52,228 6.5 97.1 97.6 97.1 97.6 San Francisco Bay Area 296 29,712 24,544 3.1 96.2 96.3 96.9 97.2 Chicago 319 69,079 53,782 6.7 98.2 98.2 98.2 98.2 South Florida 225 30,295 24,211 3.0 95.3 95.2 95.5 95.3 Atlanta 237 52,994 46,464 5.8 96.4 96.7 96.7 97.0 Lehigh Valley 81 36,108 31,978 4.0 93.2 93.4 93.3 93.4 Houston 220 36,907 31,144 3.9 98.5 98.8 98.6 98.9 Seattle 163 24,984 18,002 2.2 94.6 95.4 94.8 95.6 Central Valley 46 24,279 22,421 2.8 99.8 99.8 99.8 99.8 Baltimore/Washington 134 18,328 14,557 1.8 92.3 92.9 92.6 93.3 Phoenix 82 17,936 15,675 2.0 93.5 96.0 96.3 97.0 Nashville 69 17,901 14,104 1.8 97.3 97.4 97.3 97.4 Orlando 111 14,363 12,884 1.6 94.2 94.8 94.3 94.9 Las Vegas 81 14,760 9,120 1.1 92.9 94.9 93.3 95.3 Indianapolis 57 20,580 16,492 2.1 95.7 96.3 95.7 96.3 Cincinnati 67 18,751 16,312 2.0 93.4 93.3 93.4 93.3 Central PA 37 18,752 14,017 1.7 84.4 83.7 84.4 83.7 Remaining U.S. markets (11 markets) 372 71,598 61,337 7.6 93.8 94.0 94.0 94.2 Total U.S. 3,635 760,975 630,187 78.5 95.6 95.9 96.0 96.3 Mexico 359 68,488 24,910 3.1 94.2 91.4 94.2 91.4 Canada 43 14,371 14,371 1.8 95.3 95.3 95.3 95.3 Brazil 46 20,149 5,309 0.7 96.4 97.2 96.4 97.2 Total Other Americas 448 103,008 44,590 5.6 94.8 93.4 94.8 93.4 United Kingdom 181 33,155 12,371 1.5 95.1 93.1 95.1 93.1 Germany 154 40,065 12,474 1.6 98.6 98.6 98.6 98.6 France 153 38,308 12,658 1.6 95.3 95.7 95.3 95.7 Netherlands 128 32,536 10,655 1.3 94.4 92.7 95.0 93.2 Remaining European countries (8 countries) 512 107,189 38,618 4.8 96.0 94.8 96.3 95.5 Total Europe 1,128 251,253 86,776 10.8 96.0 95.0 96.2 95.3 Japan 76 51,469 11,380 1.4 96.5 89.9 97.1 92.2 China 180 53,290 28,101 3.5 91.2 90.8 91.4 91.1 Singapore 5 951 951 0.1 91.0 91.0 91.0 91.0 India 4 1,040 765 0.1 94.6 93.8 94.6 93.8 Total Asia (A) 265 106,750 41,197 5.1 93.8 90.6 94.2 91.5 Total Outside the U.S. 1,841 461,011 172,563 21.5 95.2 93.5 95.4 93.9 Total Operating Portfolio 5,476 1,221,986 802,750 100.0 95.5 95.4 95.8 95.8 In April 2026, we acquired our partners' interest in an unconsolidated co-investment venture in Asia and consolidated the properties.

Operating Portfolio – NOI* and Gross Book Value Operations Second Quarter NOI* Gross Book Value dollars in thousands and ordered by Prologis Share of NOI (%) Owned and Managed Prologis Share % of Total Owned and Managed Prologis Share % of Total Southern California $ 401,603 $ 337,670 19.4 $ 21,303,162 $ 18,626,031 19.3 New Jersey/New York City 185,546 147,277 8.5 9,868,637 8,065,265 8.3 Dallas/Ft. Worth 113,315 95,936 5.5 5,686,685 4,842,057 5.0 San Francisco Bay Area 114,687 95,823 5.5 5,090,194 4,224,999 4.4 Chicago 118,564 90,680 5.2 6,828,262 5,311,725 5.5 South Florida 97,003 76,515 4.4 5,641,123 4,631,307 4.8 Atlanta 86,025 74,539 4.3 4,627,282 4,042,496 4.2 Lehigh Valley 77,289 68,543 3.9 4,614,423 4,175,775 4.3 Houston 61,071 51,913 3.0 3,754,434 3,230,791 3.3 Seattle 68,903 51,052 2.9 3,854,761 2,988,434 3.1 Central Valley 48,945 44,554 2.6 2,227,711 2,017,463 2.1 Baltimore/Washington 55,031 44,003 2.5 2,779,603 2,238,195 2.3 Phoenix 35,354 31,257 1.8 2,081,373 1,791,932 1.9 Nashville 36,160 29,122 1.7 1,783,217 1,450,625 1.5 Orlando 28,492 25,790 1.5 1,558,210 1,411,591 1.5 Las Vegas 39,100 25,071 1.4 1,799,108 1,066,756 1.1 Indianapolis 26,766 22,073 1.3 1,411,055 1,182,375 1.2 Cincinnati 25,320 22,031 1.3 1,330,846 1,180,291 1.2 Central PA 26,192 19,967 1.1 1,690,889 1,301,962 1.3 Remaining U.S. markets (11 markets) 127,158 107,882 6.2 6,323,993 5,393,154 5.6 Total U.S. 1,772,524 1,461,698 84.0 94,254,968 79,173,224 81.9 Mexico 130,253 46,057 2.6 5,657,182 2,066,467 2.1 Canada 37,598 37,598 2.2 1,596,898 1,596,898 1.7 Brazil 33,796 9,165 0.5 1,108,566 320,587 0.3 Total Other Americas 201,647 92,820 5.3 8,362,646 3,983,952 4.1 United Kingdom 95,972 35,132 2.0 8,676,609 3,442,163 3.5 Germany 76,401 24,067 1.4 4,966,399 1,521,599 1.6 France 59,331 19,494 1.1 4,035,621 1,249,502 1.3 Netherlands 56,830 18,181 1.0 3,956,566 1,236,628 1.3 Remaining European countries (8 countries) 159,975 56,606 3.3 9,690,331 3,413,260 3.5 Total Europe 448,509 153,480 8.8 31,325,526 10,863,152 11.2 Japan 87,209 17,476 1.0 6,977,676 1,435,352 1.5 China 28,579 11,213 0.7 3,020,223 1,080,728 1.1 Singapore 3,009 3,009 0.2 149,530 149,530 0.2 India 651 488 0.0 41,262 29,783 0.0 Total Asia (A) 119,448 32,186 1.9 10,188,691 2,695,393 2.8 Total Outside the U.S. 769,604 278,486 16.0 49,876,863 17,542,497 18.1 Total Operating Portfolio $ 2,542,128 $ 1,740,184 100.0 $ 144,131,831 $ 96,715,721 100.0 * This is a non-GAAP financial measure. Please see our Notes and Definitions for further explanation. In April 2026, we acquired our partners' interest in an unconsolidated co-investment venture in Asia and consolidated the properties.

Operating Portfolio – Summary by Division Operations # of Buildings Square Feet Occupied % Leased % square feet and dollars in thousands Owned and Managed Owned and Managed Prologis Share % of Total Owned and Managed Prologis Share Owned and Managed Prologis Share Consolidated Total U.S. 2,849 619,951 583,839 72.8 95.9 96.0 96.3 96.4 Total Outside the U.S. 196 54,264 53,988 6.7 87.8 87.7 88.9 88.8 Total Operating Portfolio - Consolidated 3,045 674,215 637,827 79.5 95.3 95.3 95.7 95.7 Unconsolidated Total U.S. 786 141,024 46,348 5.7 94.4 94.4 94.8 94.8 Total Outside the U.S. 1,645 406,747 118,575 14.8 96.2 96.2 96.3 96.2 Total Operating Portfolio - Unconsolidated 2,431 547,771 164,923 20.5 95.7 95.7 95.9 95.8 Total Total U.S. 3,635 760,975 630,187 78.5 95.6 95.9 96.0 96.3 Total Outside the U.S. 1,841 461,011 172,563 21.5 95.2 93.5 95.4 93.9 Total Operating Portfolio 5,476 1,221,986 802,750 100.0 95.5 95.4 95.8 95.8 Value added properties - consolidated 17 4,384 4,096 24.4 25.9 33.6 35.7 Value added properties - unconsolidated 21 2,733 788 39.2 38.7 46.1 44.6 Total Operating Properties 5,514 1,229,103 807,634 95.1 95.0 95.5 95.4 Second Quarter NOI* Gross Book Value Owned and Managed Prologis Share % of Total Owned and Managed Prologis Share % of Total Consolidated Total U.S. $ 1,435,571 $ 1,350,946 77.6 $ 77,638,953 $ 73,695,999 76.2 Total Outside the U.S. 67,588 67,425 3.9 4,127,724 4,116,245 4.3 Total Operating Portfolio - Consolidated $ 1,503,159 $ 1,418,371 81.5 $ 81,766,677 $ 77,812,244 80.5 Unconsolidated Total U.S. $ 336,953 $ 110,752 6.4 $ 16,616,015 $ 5,477,225 5.7 Total Outside the U.S. 702,016 211,061 12.1 45,749,139 13,426,252 13.8 Total Operating Portfolio - Unconsolidated $ 1,038,969 $ 321,813 18.5 $ 62,365,154 $ 18,903,477 19.5 Value added properties - consolidated $ 474 $ 499 $ 695,677 $ 665,488 Value added properties - unconsolidated $ 1,204 $ 330 $ 405,942 $ 114,682 * This is a non-GAAP financial measure. Please see our Notes and Definitions for further explanation.

Customer Information Operations Top Customers Remaining Lease Expirations - Operating Portfolio square feet in thousands square feet and dollars in thousands, except per square foot amounts Owned and Managed Owned and Managed % of Net Effective Rent Total Square Feet Occupied Sq Ft Net Effective Rent $ % of Total $ Per Sq Ft 1 Amazon 5.5 50,017 2026(A) 73,066 479,032 4.7 6.56 2 Home Depot 1.8 19,979 2027(A) 200,147 1,442,373 14.3 7.21 3 FedEx 1.4 10,764 2028 186,099 1,532,134 15.1 8.23 4 DSV 1.2 14,248 2029 162,050 1,425,480 14.1 8.80 5 DHL 1.2 12,366 2030 147,442 1,354,987 13.4 9.19 6 Geodis 1.0 14,076 Thereafter 397,933 3,888,349 38.4 9.77 7 UPS 0.8 10,553 Total 1,166,737 10,122,355 100.0 8.68 8 GXO 0.8 9,885 Weighted average term of leases remaining (based on net effective rent) 3.7 years 9 Kuehne + Nagel 0.8 8,775 10 CEVA Logistics 0.7 10,451 Top 10 Customers 15.2 161,114 Prologis Share 11 Walmart 0.7 8,402 Occupied Sq Ft Net Effective Rent 12 Maersk 0.7 6,066 $ % of Total $ Per Sq Ft 13 Mercado Libre 0.5 6,867 2026(A) 44,424 293,474 4.2 6.61 14 Pepsi 0.5 4,474 2027(A) 130,903 976,674 14.1 7.46 15 GigaCloud 0.4 3,719 2028 117,212 1,010,527 14.6 8.62 16 Samsung 0.4 5,145 2029 106,996 979,254 14.1 9.15 17 Ryder 0.4 3,600 2030 94,875 917,300 13.3 9.67 18 NFI Industries 0.4 3,543 Thereafter 271,205 2,752,550 39.7 10.15 19 Lululemon 0.4 2,481 Total 765,615 6,929,779 100.0 9.05 20 Tesla 0.4 2,818 Weighted average term of leases remaining (based on net effective rent) 3.9 years 21 Burlington Stores 0.4 3,130 22 Zongteng 0.3 3,755 23 Wayfair 0.3 5,783 24 Berkshire Hathaway 0.3 2,951 25 DP World 0.3 3,046 Top 25 Customers 21.6 226,894 We have signed leases, which were due to expire in 2026 and 2027, totaling 47 million square feet and 27 million square feet, in our Owned and Managed portfolio (3.2% and 1.8% of total net effective rent) and 31 million square feet and 16 million square feet on a Prologis Share basis (3.2% and 1.6% of total net effective rent). These are excluded from 2026 and 2027 expirations and are reflected in the new year of expiration.

M&A and Significant Portfolio Activity $23,200 $3,100 $800 — — DEVELOPMENT STARTS (TEI) in millions DEVELOPMENT STABILIZATIONS (TEI) dollars in millions ACQUISITION ACTIVITY(A) in millions LAND PORTFOLIO dollars in millions Capital Deployment Overview – Prologis Share Outside the U.S. U.S. Est Value Creation $1,583 $917 $773 $568 $477 Est Wtd Avg Stabilized Yield 6.3% 6.3% 6.1% 6.7% 7.2% Est Build Out(B): Sq. Ft. in millions 215 TEI $37,300 YTD This data excludes acquisitions of land. The estimated build out includes the land portfolio, Covered Land Plays and other land that we could develop through options, ground leases, unconsolidated joint ventures and other contractual arrangements.

Development Stabilizations Capital Deployment Three Months Ended June 30, 2026 Six Months Ended June 30, 2026 TEI TEI square feet and dollars in thousands Square Feet Owned and Managed Prologis Share Square Feet Owned and Managed Prologis Share Central 349 $ 78,207 $ 78,207 1,086 $ 179,669 $ 179,669 East 1,044 152,303 83,240 1,373 228,474 159,168 West(A)(B) – 9,602 9,602 2,144 491,475 402,397 Total Industrial U.S. 1,393 240,112 171,049 4,603 899,618 741,234 Canada 1,217 221,834 221,834 1,217 221,834 221,834 Brazil – – – 106 9,009 1,802 Mexico 1,021 117,637 117,637 1,021 117,637 117,637 Total Other Americas 2,238 339,471 339,471 2,344 348,480 341,273 Northern Europe 239 34,733 34,733 331 63,079 48,906 Southern Europe 106 13,445 13,445 458 48,949 48,949 Central Europe – – – 1,078 79,157 79,157 United Kingdom 218 51,558 51,558 392 122,937 122,937 Total Europe 563 99,736 99,736 2,259 314,122 299,949 Japan 112 20,498 20,498 1,095 168,704 168,704 China – – – – – – India 562 23,133 14,747 562 23,133 14,747 Total Asia 674 43,631 35,245 1,657 191,837 183,451 Total Industrial Outside the U.S. 3,475 482,838 474,452 6,260 854,439 824,673 Total Data Center – – – 432 214,548 193,093 Total Development Stabilizations 4,868 $ 722,950 $ 645,501 11,295 $ 1,968,605 $ 1,759,000 Percent build-to-suit 24.0 % 38.9 % Estimated weighted average stabilized yield 6.3 % 7.2 % Annualized estimated NOI $ 40,855 $ 125,892 Estimated weighted average stabilized cap rate 5.4 % 5.5 % Estimated weighted average margin 13.8 % 27.1 % Estimated value creation $ 89,262 $ 476,638 TEI amount includes development on yards, parking lots, and other non-industrial assets that will be included in other real estate investments upon completion. Amounts include a development recorded as a note receivable that is included in other real estate investments.

Development Starts Capital Deployment Three Months Ended June 30, 2026 Six Months Ended June 30, 2026 TEI TEI square feet and dollars in thousands Square Feet Leased % at Start Owned and Managed Prologis Share Square Feet Leased % at Start Owned and Managed Prologis Share Central 1,037 0.0 $ 159,715 $ 66,294 2,269 0.0 $ 308,666 $ 136,286 East 1,455 23.2 220,021 220,021 2,240 15.1 431,348 314,334 West (A)(B)(C) 1,260 8.5 194,867 102,728 2,088 5.2 445,252 300,133 Total Industrial U.S. 3,752 11.9 574,603 389,043 6,597 6.7 1,185,266 750,753 Canada (A) – 100.0 52,152 52,152 – 100.0 52,152 52,152 Mexico – – – – – – – – Brazil – – – – – – – – Total Other Americas – 100.0 52,152 52,152 – 100 52,152 52,152 Northern Europe 180 0.0 48,707 24,354 980 12.9 180,789 99,260 Southern Europe 463 72.5 59,510 59,510 463 72.5 59,510 59,510 Central Europe – – – – 493 100.0 37,652 37,652 United Kingdom – – – – 274 23.7 58,394 58,394 Total Europe 643 52.2 108,217 83,864 2,210 46.2 336,345 254,816 Japan – – – – – – – – China – – – – – – – – India 412 0.0 17,756 15,092 892 0.0 38,675 32,874 Total Asia 412 0.0 17,756 15,092 892 0.0 38,675 32,874 Total Industrial Outside the U.S. 1,055 31.8 178,125 151,108 3,102 32.9 427,172 339,842 Total Data Center 882 100.0 802,279 802,279 1,966 100.0 2,091,099 2,034,444 Total Development Starts 5,689 29.2 $ 1,555,007 $ 1,342,430 11,665 29.4 $ 3,703,537 $ 3,125,039 Percent build-to-suit 74.7 % 78.4 % Estimated weighted average stabilized yield 7.2 % 8.1 % Annualized estimated NOI $ 96,982 $ 253,091 Estimated weighted average stabilized cap rate 5.4 % 5.9 % Estimated weighted average margin 32.3 % 32.2 % Estimated value creation $ 434,085 $ 1,005,320 TEI amount includes development on yards, parking lots, and other non-industrial assets that will be included in other real estate investments upon completion. Amounts include a development recorded as a note receivable that is included in other real estate investments. Includes a development start that was contributed to a co-investment venture in July. Prologis Share reflects the venture’s ownership.

Development Portfolio Capital Deployment Under Development Pre-Stabilized Developments 2026 Expected Completion 2027 and Thereafter Expected Completion Total Development Portfolio TEI TEI TEI Owned and Managed Prologis Share square feet and dollars in thousands Sq Ft Leased % Owned and Managed Prologis Share Sq Ft Owned and Managed Prologis Share Sq Ft Owned and Managed Prologis Share Sq Ft Leased % TEI Sq Ft Leased % TEI Central – – $ – $ – 229 $ 40,699 $ 14,676 2,039 $ 266,166 $ 104,681 2,268 0.0 $ 306,865 890 0.0 $ 119,357 East(A)(B) 1,063 18.7 226,049 226,049 1,604 503,750 477,110 2,007 397,457 282,845 4,674 39.8 1,127,256 4,131 41.3 986,004 West(A) 954 80.9 191,148 190,882 1,408 425,407 341,865 3,953 498,178 240,514 6,315 56.3 1,114,733 3,864 61.3 773,261 Total Industrial U.S. 2,017 48.1 417,197 416,931 3,241 969,856 833,651 7,999 1,161,801 628,040 13,257 40.8 2,548,854 8,885 45.9 1,878,622 Canada(A) – – – – – 52,152 52,152 – – – – 100.0 52,152 – 100.0 52,152 Mexico – – – – 963 107,332 107,332 – – – 963 0.0 107,332 963 0.0 107,332 Brazil – – – – 119 10,962 2,193 2,147 186,911 37,382 2,266 94.8 197,873 453 94.8 39,575 Total Other Americas – – – – 1,082 170,446 161,677 2,147 186,911 37,382 3,229 66.5 357,357 1,416 30.3 199,059 Northern Europe – – – – 622 88,496 60,587 854 162,054 81,028 1,476 27.2 250,550 847 23.6 141,615 Southern Europe 179 19.3 33,183 33,183 572 96,144 92,304 335 43,536 43,536 1,086 69.5 172,863 1,057 71.5 169,023 Central Europe – – – – 493 37,455 37,455 – – – 493 100.0 37,455 493 100.0 37,455 United Kingdom(A) 94 0.0 52,217 52,217 1,974 613,589 613,589 – – – 2,068 84.3 665,806 2,068 84.3 665,806 Total Europe 273 12.6 85,400 85,400 3,661 835,684 803,935 1,189 205,590 124,564 5,123 66.2 1,126,674 4,465 71.5 1,013,899 Japan 672 73.7 102,363 102,363 395 78,382 78,382 2,011 350,732 350,732 3,078 34.1 531,477 3,078 34.1 531,477 China(A) – – – – – – – 1,158 73,635 73,635 1,158 0.0 73,635 1,158 0.0 73,635 India – – – – 1,300 55,883 47,500 412 17,756 15,092 1,712 0.0 73,639 1,455 0.0 62,592 Total Asia 672 73.7 102,363 102,363 1,695 134,265 125,882 3,581 442,123 439,459 5,948 17.6 678,751 5,691 18.4 667,704 Total Industrial Outside the U.S. 945 56.1 187,763 187,763 6,438 1,140,395 1,091,494 6,917 834,624 601,405 14,300 46.1 2,162,782 11,572 40.3 1,880,662 Total Data Center – – – – – – – 2,182 2,535,960 2,434,828 2,182 100.0 2,535,960 2,082 100.0 2,434,828 Total Development Portfolio 2,962 50.7 $ 604,960 $ 604,694 9,679 $ 2,110,251 $ 1,925,145 17,098 $ 4,532,385 $ 3,664,273 29,739 47.7 $ 7,247,596 22,539 48.0 $ 6,194,112 Cost to complete $45,502 $45,474 $585,626 $528,400 $2,927,830 $2,437,612 $3,558,958 $3,011,486 Percent build-to-suit 0.0 % 53.9 % 74.3 % 60.7 % Estimated weighted average stabilized yield 5.6 % 6.1 % 7.7 % 7.0 % Annualized estimated NOI $ 434,876 Estimated weighted average stabilized cap rate 5.5 % Estimated weighted average margin 22.3 % Estimated value creation $ 1,381,586 TEI amount includes development on yards, parking lots, and other non-industrial assets that will be included in other real estate investments upon completion. Amounts include a development recorded as a note receivable that is included in other real estate investments.

Third-Party Acquisitions Capital Deployment Amounts include the acquisition of properties from a third-party partner for the formation of a new co-investment venture in Europe. Amounts include the acquisition of non-industrial assets, including yards and renewable energy assets. Three Months Ended June 30, 2026 Six Months Ended June 30, 2026 Square Feet Acquisition Price Square Feet Acquisition Price square feet and dollars in thousands Owned and Managed Prologis Share Owned and Managed Prologis Share Owned and Managed Prologis Share Owned and Managed Prologis Share Prologis Wholly-Owned 3,443 3,443 $ 738,380 $ 738,380 4,358 4,358 $ 842,541 $ 842,541 Prologis Co-Investment Ventures – – – – – – – – Total U.S. 3,443 3,443 738,380 738,380 4,358 4,358 842,541 842,541 Prologis Wholly-Owned – – – – – – – – Prologis Co-Investment Ventures – – – – – – – – Total Other Americas – – – – – – – – Prologis Wholly-Owned 706 706 40,952 40,952 706 706 40,952 40,952 Prologis Co-Investment Ventures (A) 6,729 2,019 853,746 256,124 7,438 2,328 964,516 302,815 Total Europe 7,435 2,725 894,698 297,076 8,144 3,034 1,005,468 343,767 Prologis Wholly-Owned – – – – – – – – Prologis Co-Investment Ventures 110 28 53,033 13,258 448 113 169,452 42,363 Total Asia 110 28 53,033 13,258 448 113 169,452 42,363 Total Outside the U.S. 7,545 2,753 947,731 310,334 8,592 3,147 1,174,920 386,130 Total Third-Party Building Acquisitions 10,988 6,196 $ 1,686,111 $ 1,048,714 12,950 7,505 $ 2,017,461 $ 1,228,671 Weighted average stabilized cap rate 4.1 % 4.2 % Acquisitions of other real estate investments (B) 73,951 70,556 161,924 158,529 Total Third-Party Acquisitions $ 1,760,062 $ 1,119,270 $ 2,179,385 $ 1,387,200

Dispositions and Contributions Capital Deployment Three Months Ended June 30, 2026 Six Months Ended June 30, 2026 Square Feet Sales Price Square Feet Sales Price square feet and dollars in thousands Owned and Managed Prologis Share Owned and Managed Prologis Share Owned and Managed Prologis Share Owned and Managed Prologis Share Third-Party Building Dispositions Prologis Wholly-Owned (A) 3,330 3,330 $ 597,125 $ 597,125 4,857 4,856 $ 819,222 $ 819,197 Total U.S. 3,330 3,330 597,125 597,125 4,857 4,856 819,222 819,197 Prologis Co-Investment Ventures 195 67 16,800 5,801 634 219 36,600 12,636 Total Other Americas 195 67 16,800 5,801 634 219 36,600 12,636 Prologis Co-Investment Ventures – – – – 910 456 160,867 80,434 Total Europe – – – – 910 456 160,867 80,434 Prologis Co-Investment Ventures – – – – 609 99 98,536 16,012 Total Asia – – – – 609 99 98,536 16,012 Total Outside the U.S. 195 67 16,800 5,801 2,153 774 296,003 109,082 Total Third-Party Building Dispositions 3,525 3,397 $ 613,925 $ 602,926 7,010 5,630 $ 1,115,225 $ 928,279 Building Contributions to Co-Investment Ventures Prologis Co-Investment Ventures – – $ – $ – – – $ – $ – Total U.S. – – – – – – – – Prologis Co-Investment Ventures 590 590 90,850 59,434 590 590 90,850 59,434 Total Other Americas 590 590 90,850 59,434 590 590 90,850 59,434 Prologis Co-Investment Ventures (B) 2,362 2,362 427,498 302,969 2,362 2,362 427,498 302,969 Total Europe 2,362 2,362 427,498 302,969 2,362 2,362 427,498 302,969 Prologis Co-Investment Ventures – – – – – – – – Total Asia – – – – – – – – Total Outside the U.S. 2,952 2,952 518,348 362,403 2,952 2,952 518,348 362,403 Total Building Contributions to Co-Investment Ventures 2,952 2,952 518,348 362,403 2,952 2,952 518,348 362,403 Total Building Dispositions and Contributions 6,477 6,349 $ 1,132,273 $ 965,329 9,962 8,582 $ 1,633,573 $ 1,290,682 Weighted average stabilized cap rate 5.1 % 5.1 % Contributions of land and properties under development – – 686,563 339,404 Third-party land dispositions 4,802 4,802 9,508 9,508 Dispositions of other real estate investments(C) 147,440 39,057 161,365 46,020 Grand Total Dispositions and Contributions $ 1,284,515 $ 1,009,188 $ 2,491,009 $ 1,685,614 Amounts include the disposition of properties by a consolidated entity in which we have less than 100% ownership interest. Amounts include the contribution of properties by Prologis for the formation of a new co-investment venture in Europe. Amounts include the disposition of non-industrial assets, including yards and data centers. Dispositions of Non-Strategic Assets are included as third-party building dispositions.

Land Portfolio – Owned and Managed Capital Deployment Acres Current Book Value square feet and dollars in thousands, including markets where we own land ordered by Prologis Share of Operating Portfolio NOI (%) Owned and Managed Prologis Share Estimated Build Out (sq ft) Owned and Managed Prologis Share % of Total Southern California 530 506 9,709 $ 598,244 $ 588,366 12.0 New Jersey/New York City 316 316 2,854 316,609 316,609 6.5 Dallas/Ft. Worth 412 411 6,319 164,411 164,216 3.4 San Francisco Bay Area 85 75 1,263 152,980 130,299 2.7 Chicago 111 111 1,842 55,356 55,310 1.1 South Florida 81 81 1,092 105,948 105,928 2.2 Atlanta 264 264 2,494 34,566 34,566 0.7 Lehigh Valley 72 72 537 40,405 40,405 0.8 Houston 284 284 4,084 132,175 132,175 2.7 Seattle 49 49 892 39,305 39,305 0.8 Central Valley 634 634 10,781 211,141 211,140 4.3 Baltimore/Washington 111 111 1,253 84,434 84,434 1.7 Phoenix 183 183 2,878 55,590 55,590 1.1 Nashville 407 407 5,644 198,228 198,228 4.0 Orlando 119 102 1,701 37,459 32,065 0.7 Las Vegas 980 980 14,826 425,130 425,130 8.7 Indianapolis 79 79 1,050 8,377 8,377 0.2 Remaining U.S. markets (9 markets) 412 412 6,440 170,878 170,839 3.5 Total U.S. 5,129 5,077 75,659 2,831,236 2,792,982 57.1 Mexico 946 813 17,548 311,823 297,622 6.1 Canada 362 362 6,688 652,814 652,814 13.3 Brazil 704 613 14,028 278,706 265,168 5.4 Total Other Americas 2,012 1,788 38,264 1,243,343 1,215,604 24.8 United Kingdom 275 265 5,742 297,097 246,639 5.0 Germany 82 63 1,728 109,503 85,524 1.8 France 171 170 3,133 82,274 81,326 1.7 Netherlands 55 55 1,437 58,907 58,907 1.2 Remaining European countries (7 countries) 742 674 14,297 182,833 163,507 3.3 Total Europe 1,325 1,227 26,337 730,614 635,903 13.0 Japan 99 99 6,421 151,792 151,792 3.1 China 78 78 2,499 19,943 19,943 0.4 India 252 212 5,870 94,742 80,443 1.6 Total Asia 429 389 14,790 266,477 252,178 5.1 Total Outside the U.S. 3,766 3,404 79,391 2,240,434 2,103,685 42.9 Total Land Portfolio 8,895 8,481 155,050 $ 5,071,670 $ 4,896,667 100.0

Land Portfolio – Summary and Roll Forward Capital Deployment Acres Current Book Value dollars in thousands Owned and Managed Prologis Share % of Total Owned and Managed Prologis Share % of Total Central 1,423 1,422 16.8 $ 605,400 $ 605,159 12.4 East 1,036 1,019 12.0 637,327 631,913 12.9 West 2,670 2,636 31.1 1,588,509 1,555,910 31.8 Total U.S. 5,129 5,077 59.9 2,831,236 2,792,982 57.1 Mexico 946 813 9.6 311,823 297,622 6.1 Canada 362 362 4.3 652,814 652,814 13.3 Brazil 704 613 7.2 278,706 265,168 5.4 Total Other Americas 2,012 1,788 21.1 1,243,343 1,215,604 24.8 Central Europe 467 445 5.2 125,768 121,346 2.5 Northern Europe 180 143 1.7 179,907 150,892 3.1 Southern Europe 403 374 4.4 127,842 117,026 2.4 United Kingdom 275 265 3.1 297,097 246,639 5.0 Total Europe 1,325 1,227 14.4 730,614 635,903 13.0 Japan 99 99 1.2 151,792 151,792 3.1 China 78 78 0.9 19,943 19,943 0.4 India 252 212 2.5 94,742 80,443 1.6 Total Asia 429 389 4.6 266,477 252,178 5.1 Total Outside the U.S. 3,766 3,404 40.1 2,240,434 2,103,685 42.9 Total Land Portfolio 8,895 8,481 100.0 $ 5,071,670 $ 4,896,667 100.0 Estimated build out of land portfolio (in TEI) $ 24,900,000 $ 23,900,000 Estimated build out of Covered Land Plays (in TEI) 7,900,000 6,500,000 Estimated build out of other land (in TEI)(A) 7,800,000 6,900,000 Total $ 40,600,000 $ 37,300,000 Land Roll Forward - Prologis Share U.S. Other Americas Europe Asia Total At March 31, 2026 $ 2,725,850 $ 1,219,293 $ 636,741 $ 217,444 $ 4,799,328 Acquisitions 123,783 45,906 7,906 17,979 195,574 Reclassifications – – – – – Dispositions and contributions (3,434) – – – (3,434) Development starts (105,143) (44,697) (9,915) (3,523) (163,278) Infrastructure costs 54,917 11,844 5,142 22,839 94,742 Effect of changes in foreign exchange rates and other (2,991) (16,742) (3,971) (2,561) (26,265) At June 30, 2026 $ 2,792,982 $ 1,215,604 $ 635,903 $ 252,178 $ 4,896,667 Amounts include approximately 3,400 acres that we could develop through options, ground leases, unconsolidated joint ventures and other contractual arrangements.

Solar and Energy Storage Portfolios – Owned and Managed Capital Deployment dollars in thousands, including markets we own solar ordered by Prologis Share of Operating Portfolio NOI (%) Operating Portfolio Under Development Capacity (MW) Gross Book Value Capacity (MW) Current Investment TEI Southern California 73 $ 172,579 30 $ 63,208 $ 94,886 New Jersey/New York City 84 203,928 54 157,286 203,363 Chicago 14 33,602 44 106,041 143,911 San Francisco Bay Area 16 40,753 25 43,785 76,836 Central Valley 30 61,436 8 14,434 20,013 Baltimore/Washington 2 4,672 22 68,127 91,479 Remaining U.S. markets (5 markets) 7 13,118 12 15,073 46,138 Total U.S. 226 530,088 195 467,954 676,626 Mexico 11 10,135 25 16,641 26,113 Total Other Americas 11 10,135 25 16,641 26,113 Germany 50 43,480 13 2,671 11,246 Italy 16 10,381 7 1,691 7,022 Remaining European countries (6 countries) 15 14,675 22 6,811 15,540 Total Europe 81 68,536 42 11,173 33,808 Japan 67 79,003 10 1,483 8,183 China 25 14,375 – – – Singapore 5 4,054 – – – Total Asia 97 97,432 10 1,483 8,183 Total Outside the U.S. 189 176,103 77 29,297 68,104 Total Solar Portfolio 415 706,191 272 497,251 744,730 Energy Storage Portfolio 82 107,305 10 11,873 12,514 Total Solar and Energy Storage Portfolio 497 813,496 282 509,124 757,244 Third party and other 867 Investment Tax Credits ("ITC") (297,684) Projects awaiting final commissioning(A) 27 TEI, Net of ITCs 459,560 Total installed capacity 1,391 Estimated weighted average stabilized yield 11.2 % These projects are also included as under development in the solar and energy storage portfolio.

THIRD-PARTY AUM dollars in billions THIRD-PARTY FEE RELATED AND PROMOTE REVENUE in millions FEE RELATED EARNINGS ANNUALIZED* in millions NET PROMOTE INCOME (EXPENSE) dollars in millions Strategic Capital Overview 37.1 51.5 50.9 24.8 26.1 Trailing 3-year basis points of third-party AUM 95.0% 93.0% 95.0% 93.6% 92.2% % Open end/Public *This is a non-GAAP financial measure. Please see our Notes and Definitions for further explanation. A. Net Promote Income (Expense) in 2025 is negative due to expense from the amortization of stock compensation issued to employees related to promote income recognized in prior periods. (A)

Summary of Co-Investment Ventures Strategic Capital Represents an individual co-investment venture eligible to earn promotes. Eligibility does not imply likelihood of realization, and there can be no assurance that any promotes will be earned. Values represent the entire venture at 100%, not Prologis’ proportionate share. Values are presented at Prologis’ adjusted basis derived from the ventures’ U.S. GAAP information and may not be comparable to values reflected in the ventures’ stand alone financial statements calculated on a different basis. Does not include promotes earned upon liquidation of a venture or stabilization of properties, or for certain ventures, promotes based on cumulative returns that do not have a scheduled promote period Our co-investment venture in Mexico is U.S. dollar functional and included in Other Americas. BY GEOGRAPHY BY STRUCTURE BY STRATEGY Co-Investment Ventures (at 100%) (A) in thousands Consolidated Unconsolidated Total Square Feet 78,203 550,504 628,707 GBV of Operating Buildings $ 8,473,696 $ 62,771,096 $ 71,244,792 GBV of Real Estate $ 8,548,298 $ 65,963,487 $ 74,511,785 Debt $ – $ 19,725,090 $ 19,725,090 FINANCIAL HIGHLIGHTS PROMOTE OPPORTUNITIES (B) THIRD-PARTY AUM: $67.8B in billions, except for (number of ventures) Q1 Q2 Q3 Q4 2026 — • • • • • 2027 — • • • • — 2028 — • • • • • • 2029 — • • • • — 2030 • • • • • — • (C)

Operating and Balance Sheet Information of the Unconsolidated Co-Investment Ventures (at 100%)(A) Strategic Capital dollars in thousands U.S. Other Americas Europe Asia Total Operating Information For the Three Months Ended June 30, 2026 Rental revenue $ 451,100 $ 225,718 $ 540,696 $ 141,573 $ 1,359,087 Rental expense (106,460) (33,837) (98,321) (36,448) (275,066) General and administrative expense (21,841) (18,828) (22,947) (14,659) (78,275) Depreciation and amortization expense (142,716) (61,120) (221,746) (50,285) (475,867) Other operating revenue (expense) (185) (1,531) (1,468) – (3,184) Operating income (expense) before gains on real estate transactions, net 179,898 110,402 196,214 40,181 526,695 Gains (losses) on dispositions of investments in real estate, net 33 2,833 74,013 465 77,344 Operating income (expense) 179,931 113,235 270,227 40,646 604,039 Interest expense (71,376) (32,639) (54,668) (15,224) (173,907) Gains (losses) on early extinguishment of debt, net – (779) – – (779) Current and deferred income tax benefit (expense) (170) (646) (20,898) (3,037) (24,751) Foreign currency, derivative and other gains (losses) and other income (expense), net 2,770 (2,009) 1,120 1,843 3,724 Net earnings (loss) 111,155 77,162 195,781 24,228 408,326 Real estate related depreciation and amortization expense 138,656 60,910 217,293 48,838 465,697 Losses (gains) on dispositions of investments in real estate, net of taxes (33) (2,833) (73,847) (465) (77,178) Unrealized foreign currency, derivative and other losses (gains), net – 1,109 (3,184) (2,727) (4,802) Deferred income tax expense (benefit) – – (17,088) 42 (17,046) FFO, as modified by Prologis* 249,778 136,348 318,955 69,916 774,997 Core FFO defined adjustments – 779 (166) – 613 Core FFO* $ 249,778 $ 137,127 $ 318,789 $ 69,916 $ 775,610 Balance Sheet Information At June 30, 2026 Operating properties, before depreciation $ 16,616,015 $ 6,459,959 $ 30,711,685 $ 8,983,437 $ 62,771,096 Accumulated depreciation (3,504,266) (1,100,522) (5,891,887) (1,305,562) (11,802,237) Properties under development, land and other real estate 1,041,673 1,460,476 486,169 204,073 3,192,391 Other assets 1,289,600 533,557 1,649,903 487,972 3,961,032 Total assets $ 15,443,022 $ 7,353,470 $ 26,955,870 $ 8,369,920 $ 58,122,282 Third-party debt $ 7,021,930 $ 2,513,235 $ 6,911,291 $ 3,278,634 $ 19,725,090 Other liabilities 1,036,615 413,804 2,246,566 338,301 4,035,286 Total liabilities $ 8,058,545 $ 2,927,039 $ 9,157,857 $ 3,616,935 $ 23,760,376 Weighted average ownership 33.2 % 32.3 % 33.0 % 15.8 % 30.5 % * This is a non-GAAP financial measure. Please see our Notes and Definitions for further explanation. Values represent the entire venture at 100%, not Prologis’ proportionate share. Values are presented at Prologis’ adjusted basis derived from the ventures’ U.S. GAAP information and may not be comparable to values reflected in the ventures’ stand alone financial statements calculated on a different basis.

Non-GAAP Pro-Rata Financial Information(A) Strategic Capital dollars in thousands Noncontrolling Interests included in Consolidated Amounts* Prologis Share of Unconsolidated Co-Investment Ventures* Operating Information For the Three Months Ended June 30, 2026 Rental revenue $ 115,118 $ 419,234 Rental expense (27,763) (82,553) General and administrative expense (12,335) (25,543) Depreciation and amortization expense (37,153) (148,078) Other operating income (expense) 934 (1,108) Operating income before gains 38,801 161,952 Gains (losses) on dispositions of investments in real estate, net 224 19,714 Operating income 39,025 181,666 Interest expense (136) (51,418) Losses on early extinguishment of debt, net – (269) Current and deferred income tax benefit (expense) (276) (7,397) Foreign currency, derivative and other gains (losses) and other income (expense), net 409 4,129 Earnings from unconsolidated co-investment ventures, net 40 – Net earnings 39,062 126,711 Real estate related depreciation and amortization expense 36,260 144,966 Losses (gains) on other dispositions of investments in real estate, net of taxes (excluding development properties and land) (224) (19,667) NAREIT defined FFO* 75,098 252,010 Unrealized foreign currency, derivative and other losses (gains), net 37 (840) Deferred income tax expense (benefit) 217 (5,425) FFO, as modified by Prologis* 75,352 245,745 Core FFO defined adjustments – 225 Core FFO* $ 75,352 $ 245,970 Balance Sheet Information At June 30, 2026 Operating properties, before depreciation $ 3,984,622 $ 19,018,159 Accumulated depreciation (990,524) (3,630,840) Properties under development, land and other real estate 190,855 1,106,698 Other assets 249,750 1,221,971 Total assets $ 3,434,703 $ 17,715,988 Third-party debt $ 28,357 $ 5,508,261 Other liabilities 102,079 1,141,709 Total liabilities $ 130,436 $ 6,649,970 Weighted average ownership 33.5 % 30.5 % Noncontrolling interests investment $ 3,304,267 Investment in and advances to unconsolidated co-investment ventures $ 10,656,282 Investment in and advances to other unconsolidated ventures 811,121 Investment in and advances to unconsolidated entities $ 11,467,403 * This is a non-GAAP financial measure, please see our Notes and Definitions for further explanation. See our Notes and Definitions for further explanation of how these amounts are calculated.

Overview Capitalization ASSETS UNDER MANAGEMENT dollars in millions U.S. DOLLAR EXPOSURE dollars in millions DEBT BY CURRENCY – PROLOGIS SHARE UNENCUMBERED ASSETS – PROLOGIS SHARE: $112.4B in billions Debt Metrics(C) - Prologis Share June 30, 2026 March 31, 2026 Debt as % of gross Market Capitalization* 23.9 % 23.8 % Debt as % of gross real estate assets* 35.7 % 35.4 % Secured debt as % of gross real estate assets* 0.4 % 0.4 % Unencumbered gross real estate assets to unsecured debt* 267.0 % 274.5 % Fixed charge coverage ratio* 6.4x 6.4x Fixed charge coverage ratio, excluding development gains* 5.9x 6.0x Debt/Adjusted EBITDA* 4.7x 4.8x Debt/Adjusted EBITDA, excluding development gains* 5.1x 5.1x Weighted average interest rate 3.3 % 3.3 % Weighted average remaining maturity in years 7.9 8.1 Percentage of floating rate debt 4.3 % 4.6 % Credit Ratings at June 30, 2026(D) Moody's A2 (Outlook Stable) Standard & Poor's A (Outlook Stable) $170,946 $239,791 $239,791 Investment Capacity $3,235 AUM Strategic Capital $103,540 Total Enterprise Value(A) $170,946 $170,946 $41,922 $129,024 Direct owned and other Market Equity Prologis Share of ventures $34,695 Investors' share of ventures $65,610 U.S.(B) 75.6% U.S. Dollar (B) 83.6% Outside U.S. 16.4% U.S. Dollar(B) Outside U.S. 54.2% U.S. Dollar (B) 95.9% Outside U.S. 4.1% 45.8% Enterprise Value(A) Debt Market Equity Enterprise Value(A) AUM by Ownership AUM by Geography * This is a non-GAAP financial measure. Please see our Notes and Definitions for detailed calculation. Enterprise value is calculated using Prologis’ stock price of $135.47 at June 30, 2026. Mexico is included in the U.S. as it is U.S. dollar functional. The detailed calculations are included in the Notes and Definitions section and are not in accordance with the applicable SEC rules. A securities rating is not a recommendation to buy, sell or hold securities and is subject to revision or withdrawal at any time by the rating organization. Debt Europe 15.7% Asia 6.1% Other Americas 2.6% $129,024 $41,922 $136,251

Debt Components – Consolidated Capitalization dollars in thousands Unsecured Maturity Senior Notes Credit Facilities and Commercial Paper Term Loans and Other Secured Mortgage Total Wtd. Avg. Interest Rate % Fixed 2026 $ 399,879 $ 514,142 $ 146,831 $ 9,790 $ 1,070,642 2.4 % 51 % 2027 1,966,180 – 44,325 29,492 2,039,997 2.2 % 99 % 2028 2,563,383 – 129,322 16,309 2,709,014 3.3 % 96 % 2029 3,362,249 – 6,554 11,734 3,380,537 2.7 % 100 % 2030 3,024,939 – 30,781 5,634 3,061,354 2.7 % 99 % 2031 3,064,691 – 123,125 17,607 3,205,423 3.1 % 100 % 2032 2,701,840 – 738,751 18,715 3,459,306 2.3 % 89 % 2033 2,863,373 – 160,535 98,209 3,122,117 4.4 % 98 % 2034 3,628,316 – 384,635 – 4,012,951 3.8 % 97 % 2035 2,622,725 – – – 2,622,725 3.6 % 100 % 2036 927,916 – – 15,000 942,916 4.3 % 100 % Thereafter 7,348,861 – – – 7,348,861 3.6 % 100 % Subtotal $ 34,474,352 $ 514,142 $ 1,764,859 $ 222,490 $ 36,975,843 3.3 % 97 % Unamortized net premiums (discounts) (398,952) – – 5,969 (392,983) Unamortized finance costs (135,798) – (4,028) (949) (140,775) Total consolidated debt, net of premiums (discounts) $ 33,939,602 $ 514,142 $ 1,760,831 $ 227,510 $ 36,442,085 Weighted average interest rate 3.3 % 2.2 % 2.0 % 4.1 % 3.3 % Weighted average remaining maturity in years 8.4 0.0 5.7 6.1 8.2 Prologis consolidated debt by local currency Liquidity Senior Notes Credit Facilities and Commercial Paper Term Loans and Other Secured Mortgage Total Investment Hedges(A) Total % of Total Aggregate lender commitments: USD $ 16,484,618 $ – $ 6,636 $ 170,239 $ 16,661,493 $ (685,386) $ 15,976,107 44 % Credit facilities $ 6,365,446 EUR 11,135,624 461,457 230,376 – 11,827,457 – 11,827,457 32 % Less: Credit facilities borrowings outstanding – GBP 1,810,874 – – – 1,810,874 685,386 2,496,260 7 % Less: Commercial paper borrowings outstanding(B) 514,142 JPY 1,755,714 – 1,332,302 – 3,088,016 – 3,088,016 8 % Less: Outstanding letters of credit 23,212 CAD 2,335,689 52,685 – – 2,388,374 – 2,388,374 7 % Current availability 5,828,092 Other 417,083 – 191,517 57,271 665,871 – 665,871 2 % Cash and cash equivalents 1,765,043 Total debt $ 33,939,602 $ 514,142 $ 1,760,831 $ 227,510 $ 36,442,085 $ – $ 36,442,085 100 % Total liquidity $ 7,593,135 We manage our exposure to changes in foreign currency exchange rates using foreign currency forward contracts, including those that are accounted for as net investment hedges, to economically reduce our exposure to fluctuations in foreign currency rates. The effect is reflected in the table under Investment Hedges. See page 30 for our market equity exposure by currency. We are required to maintain available commitments under our credit facilities in an amount at least equal to the commercial paper borrowings outstanding.

Debt Components – Noncontrolling Interests and Unconsolidated(A) Capitalization dollars in thousands Noncontrolling Interests Prologis Share of Unconsolidated Co-Investment Ventures Maturity Unsecured Secured Total Wtd. Avg. Interest Rate % Fixed Unsecured(B) Secured Total Wtd. Avg. Interest Rate % Fixed 2026 $ – $ 364 $ 364 3.8 % 100 % $ 19,592 $ 21,262 $ 40,854 2.4 % 88 % 2027 829 829 3.8 % 100 % 179,699 33,380 213,079 3.1 % 98 % 2028 7,888 390 8,278 6.8 % 5 % 431,226 72,809 504,035 3.7 % 71 % 2029 983 410 1,393 6.0 % 29 % 811,350 – 811,350 4.0 % 62 % 2030 – 430 430 3.3 % 100 % 489,590 – 489,590 3.0 % 99 % 2031 – 1,861 1,861 3.3 % 100 % 598,824 – 598,824 3.2 % 84 % 2032 – 473 473 3.3 % 100 % 469,614 27,472 497,086 2.6 % 94 % 2033 – 12,306 12,306 4.1 % 100 % 476,064 36,919 512,983 3.2 % 100 % 2034 – – – – – 408,946 14,974 423,920 4.5 % 100 % 2035 – – – – – 611,141 – 611,141 4.9 % 100 % 2036 – 1,500 1,500 5.6 % 100 % 374,216 – 374,216 4.6 % 100 % Thereafter – – – – – 463,855 – 463,855 4.5 % 100 % Subtotal $ 8,871 $ 18,563 $ 27,434 5.0 % 68 % $ 5,334,117 $ 206,816 $ 5,540,933 3.8 % 89 % Unamortized net premiums (discounts) – 1,019 1,019 (13,398) 154 (13,244) Unamortized finance costs – (96) (96) (18,545) (883) (19,428) Noncontrolling interests and Prologis Share of unconsolidated debt, net of unamortized premiums (discounts) and finance costs $ 8,871 $ 19,486 $ 28,357 $ 5,302,174 $ 206,087 $ 5,508,261 Weighted average interest rate 7.0 % 4.0 % 5.0 % 3.8 % 3.5 % 3.8 % Weighted average remaining maturity in years 2.0 6.8 5.3 6.1 3.7 6.0 Noncontrolling interests share of consolidated debt by local currency Prologis Share of unconsolidated debt by local currency Unsecured Secured Total % of Total Unsecured Secured Total Investment Hedges(C) Total % of Total USD $ – $ 19,486 $ 19,486 69 % $ 3,213,368 $ 21,391 $ 3,234,759 $ – $ 3,234,759 58 % EUR – – – – 1,536,757 48,185 1,584,942 (532,725) 1,052,217 19 % GBP – – – – 191,222 24,367 215,589 434,631 650,220 12 % JPY – – – – 339,808 81,874 421,682 – 421,682 8 % CAD – – – – – – – – – – Other 8,871 – 8,871 31 % 21,019 30,270 51,289 98,094 149,383 3 % Total debt $ 8,871 $ 19,486 $ 28,357 100 % $ 5,302,174 $ 206,087 $ 5,508,261 $ – $ 5,508,261 100 % Refer to Notes and Definitions under Non-GAAP Pro-Rata Financial Information for further explanation on how these amounts are calculated. The maturity of certain unsecured debt (Prologis Share $649 million) is reflected at the extended maturity dates as the extension is at the venture’s option. We manage our exposure to changes in foreign currency exchange rates using foreign currency forward contracts, including those that are accounted for as net investment hedges, to economically reduce our exposure to fluctuations in foreign currency rates. The effect is reflected in the table under Investment Hedges. See also page 30 for our market equity exposure by currency.

Components – Prologis Share Net Asset Value Operating Portfolio Square Feet Gross Book Value GBV per Sq Ft Adjusted Cash NOI (Actual)* Adjusted Cash NOI (Pro Forma)* Annualized Adjusted Cash NOI* Percent Occupied Consolidated U.S. 583,839 $ 73,695,999 $ 126 $ 1,331,716 $ 1,331,716 $ 5,326,864 96.0 % Other Americas 18,107 1,902,687 105 40,380 40,380 161,520 89.8 % Europe 6,814 907,200 133 7,958 7,958 31,832 78.8 % Asia 29,067 1,306,358 45 16,468 16,468 65,872 88.5 % NOI adjustments for mid-quarter acquisitions/development completions 7,900 31,600 Total consolidated operating portfolio 637,827 77,812,244 122 1,396,522 1,404,422 5,617,688 95.3 % Unconsolidated U.S. 46,348 5,477,225 118 107,166 107,166 428,664 94.4 % Other Americas 26,483 2,081,265 79 48,624 48,624 194,496 95.8 % Europe 79,962 9,955,952 125 146,290 146,290 585,160 96.4 % Asia 12,130 1,389,035 115 16,487 16,487 65,948 95.7 % Net Property Management Income 11,176 47,447 NOI adjustments for mid-quarter acquisitions/development completions 3,933 15,732 Total unconsolidated operating portfolio 164,923 18,903,477 115 318,567 333,676 1,337,447 95.7 % Total Operating Portfolio 802,750 $ 96,715,721 $ 120 $ 1,715,089 $ 1,738,098 $ 6,955,135 95.4 % Development Portfolio Square Feet Investment Balance TEI TEI per Sq Ft Annualized Estimated NOI Percent Leased Consolidated Prestabilized U.S. 2,014 $ 364,570 $ 416,931 $ 207 $ 23,786 48.1 % Other Americas – – – – – – Europe 273 78,625 85,400 313 4,485 12.6 % Asia 672 94,626 102,363 152 5,826 73.7 % Properties under development U.S.(A) 6,662 1,794,997 3,546,314 532 283,509 Other Americas 963 85,626 159,484 166 12,177 Europe 3,662 334,146 833,575 228 45,231 Asia 5,019 136,218 565,341 113 29,150 Total consolidated development portfolio 19,265 2,888,808 5,709,408 296 404,164 Unconsolidated U.S. 2,291 209,074 350,205 153 22,680 Other Americas 453 17,393 39,575 87 2,975 Europe 530 39,398 94,924 179 5,057 Asia – – – – – Total unconsolidated development portfolio 3,274 265,865 484,704 148 30,712 Total Development Portfolio 22,539 $ 3,154,673 $ 6,194,112 $ 275 $ 434,876 Prologis Share of est. value creation (see Capital Deployment - Development Portfolio) 1,381,586 Total Development Portfolio, including est. value creation $ 4,536,259 in thousands, except for percentages and per square foot amounts * This is a non-GAAP financial measure. Please see our Notes and Definitions for detailed calculation. Amounts include a development recorded as a note receivable that is included in other real estate investments.

Components – Continued Net Asset Value in thousands Balance Sheet and Other Items Other assets Cash and cash equivalents $ 1,765,043 Restricted cash 62,221 Accounts receivable, prepaid assets and other tangible assets 1,801,300 Gross book value of other real estate investments and assets held for sale 7,218,395 Value added operating properties 695,677 Prologis receivable from unconsolidated co-investment ventures 440,244 Investments in and advances to other unconsolidated joint ventures 811,121 Total other assets $ 12,794,001 Other liabilities Accounts payable and other current liabilities $ 2,533,873 Deferred income taxes 179,235 Value added tax and other tax liabilities 51,712 Tenant security deposits 451,746 Other liabilities 845,959 Total other liabilities $ 4,062,525 Noncontrolling Interests and Unconsolidated Co-investment Ventures Less: noncontrolling interests share of net tangible other liabilities (assets) $ (105,245) Prologis Share of unconsolidated net tangible other assets (liabilities) 382,106 Less: noncontrolling interests share of value added operating properties (30,189) Prologis Share of unconsolidated value added operating properties 114,682 Land Current book value of land 4,802,617 Less: noncontrolling interests share of the current book value of land (21,704) Prologis Share of book value of land in unconsolidated co-investment ventures 115,754 Debt (at par) and Preferred Stock Consolidated debt $ 36,975,843 Noncontrolling interests share of consolidated debt (27,434) Prologis Share of unconsolidated co-investment ventures' debt 5,540,933 Preferred stock 63,948 Common Stock and Limited Partnership Units Outstanding shares of common stock and limited partnership units 951,950 Strategic Capital / Development Management Strategic Capital Third-party share of asset management fees from consolidated and unconsolidated co-investment and other ventures (current quarter/annualized) $ 95,657 $ 382,628 Third-party share of transactional fees from consolidated and unconsolidated co-investment and other ventures (current quarter/trailing twelve months) 9,589 39,803 Strategic capital expenses for asset management and transactional fees (current quarter/trailing twelve months) (41,606) (148,807) Fee Related Earnings $ 63,640 $ 273,624 Net Promote Income (Expense) (current quarter/trailing twelve months)(A) $ 26,229 $ (10,783) Net Promote Income (Expense) (five year average) $ 194,125 Development management revenue (current quarter/trailing twelve months) $ 6,759 $ 34,820 Net Promote Income (Expense) is negative for the trailing twelve months due to expense primarily from amortization of stock compensation issued to employees related to promote income recognized in prior periods.

Notes and Definitions JFK Logistics Center, Jamaica, New York

Adjusted Cash NOI (Pro Forma) is a non-GAAP financial measure and consists of Adjusted Cash NOI (Actual) for the properties in our Operating Portfolio adjusted to reflect NOI for a full quarter for operating properties that were acquired or stabilized during the quarter. Adjusted EBITDA. We use Adjusted EBITDA attributable to common stockholders/unitholders (“Adjusted EBITDA”), a non-GAAP financial measure, as a measure of our operating performance. The most directly comparable GAAP measure is net earnings. We believe Adjusted EBITDA provides relevant and useful information by offering insight into our operating performance before the effects of financing decisions, income taxes, and certain non-cash or non-recurring charges. We calculate Adjusted EBITDA by beginning with consolidated net earnings attributable to common stockholders and removing the effect of: gains or losses from the disposition of investments in real estate (excluding development properties and land); depreciation and amortization expense; impairment charges; interest charges; current and deferred income taxes; preferred stock dividends; unrealized gains or losses on foreign currency and derivatives; stock compensation amortization expense; gains from the revaluation of equity investments upon acquisition of a controlling interest; gains or losses on early extinguishment of debt and derivative contracts (including cash charges); and third-party costs associated with the successful formation of new ventures. We also include an adjustment to reflect a full period of NOI on the operating properties we acquire or stabilize during the quarter and to remove NOI on properties we dispose of during the quarter, assuming all transactions occurred at the beginning of the quarter. For properties we contribute, we make an adjustment to reflect NOI at the new ownership percentage for the full quarter. We calculate Adjusted EBITDA based on our proportionate ownership share of both our unconsolidated entities and consolidated ventures. We reflect our share of Adjusted EBITDA measures for unconsolidated entities by applying our average ownership percentage for the period to the applicable adjusting items on an entity-by-entity basis. We reflect our share for consolidated ventures in which we do not own 100% of the equity by removing the noncontrolling interests share of the applicable adjustments based on our average ownership percentage for the applicable periods. While we believe Adjusted EBITDA is an important supplemental measure, it should not be used alone as it excludes significant components of net earnings computed under GAAP and is therefore limited as an analytical tool. We do not use Adjusted EBITDA as an alternative measure to net earnings computed under GAAP or as an alternative to cash from operating activities computed under GAAP or as an indicator of our ability to fund our cash needs. Our computation of Adjusted EBITDA may not be comparable to EBITDA reported by other companies in both the real estate industry and other industries. We compensate for the limitations of Adjusted EBITDA by providing investors with financial statements prepared according to GAAP, along with this detailed discussion of Adjusted EBITDA and a reconciliation to Adjusted EBITDA from consolidated net earnings attributable to common stockholders. Annualized Estimated NOI for the properties in our Development Portfolio is based on current TEI multiplied by the Estimated Weighted Average Stabilized Yield. Notes and Definitions Rental revenues $ 2,177,074 Rental expenses (530,861) NOI 1,646,213 Net termination fees and adjustments (a) (12,374) Less: actual NOI for Development Portfolio and other real estate investments and other (75,321) Less: Net Property Management Income (47,803) Less: properties contributed or sold (b) (5,003) Less: noncontrolling interests share of NOI less termination fees and adjustments (87,341) Prologis Share of adjusted NOI for consolidated Operating Portfolio at June 30, 2026 $ 1,418,371 Straight-line rents (c) (74,627) Free rent (c) 71,775 Amortization of lease intangibles (c) (64,906) Net Property Management Income 47,803 Effect of foreign currency exchange (d) (1,370) Less: noncontrolling interests (524) Second Quarter Adjusted Cash NOI (Actual) $ 1,396,522 Please refer to our annual and quarterly financial statements filed with the Securities and Exchange Commission on Forms 10-K and 10-Q and other public reports for further information about us and our business. Certain amounts from previous periods presented in the Supplemental Information have been reclassified to conform to the current presentation. Certain statements in this document are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Please refer to our “Forward-Looking Statements” and “Risk Factors” disclosure in our Forms 10-K and 10-Q for more information. Acquisition Price, as presented for building acquisitions, represents economic cost. This amount includes the building purchase price plus 1) transaction closing costs, 2) due diligence costs, 3) immediate capital expenditures (including two years of property improvements and all leasing commissions and tenant improvements required to stabilize the property), and 4) the effects of marking assumed debt to market. Adjusted Cash NOI (Actual) is a non-Generally Accepted Accounting Principles ("GAAP") financial measure and a component of Net Asset Value ("NAV"). It is used to assess the operating performance of our properties and enables both management and investors to estimate the fair value of our Operating Portfolio. A reconciliation for the most recent quarter ended of our rental income and rental expenses included in our Consolidated Statement of Income to Adjusted Cash NOI for the consolidated Operating Portfolio is as follows (in thousands): Net termination fees generally represent the gross fee negotiated at the time a customer is allowed to terminate its lease agreement. The termination fee is offset by that customer's rent leveling asset or liability and fair value lease asset or liability write off, if any, that has been previously recognized. Removing the net termination fees from rental income allows for the calculation of Adjusted Cash NOI (Actual) to include only rental income that is indicative of the property's recurring operating performance. Actual NOI for properties that were contributed or sold during the three-month period is removed. Straight-line rents, free rent and amortization of lease intangibles (above and below market leases) are removed from the rental income of our Operating Portfolio to allow for the calculation of a cash yield. Actual NOI and related adjustments are calculated in local currency and translated at the period end rate to allow for consistency with other assets and liabilities as of the reporting date.

Notes and Definitions (continued) Calculation of Per Share Amounts Three Months Ended Six Months Ended Jun. 30, Jun. 30, in thousands, except per share amount 2026 2025 2026 2025 Net earnings Net earnings attributable to common stockholders $ 1,060,844 $ 569,724 $ 2,041,320 $ 1,161,225 Noncontrolling interest attributable to exchangeable limited partnership units 22,831 13,936 45,858 28,927 Adjusted net earnings attributable to common stockholders - Diluted $ 1,083,675 $ 583,660 $ 2,087,178 $ 1,190,152 Weighted average common shares outstanding - Basic 933,092 928,476 932,175 927,909 Incremental weighted average effect on exchange of limited partnership units 20,160 22,731 21,061 23,115 Incremental weighted average effect of equity awards 4,632 4,675 4,418 4,577 Weighted average common shares outstanding - Diluted 957,884 955,882 957,654 955,601 Net earnings per share - Basic $ 1.14 $ 0.61 $ 2.19 $ 1.25 Net earnings per share - Diluted $ 1.13 $ 0.61 $ 2.18 $ 1.25 Three Months Ended Six Months Ended Jun. 30, Jun. 30, in thousands, except per share amount 2026 2025 2026 2025 Core FFO Core FFO attributable to common stockholders/ unitholders $ 1,559,127 $ 1,395,982 $ 2,999,620 $ 2,752,013 Noncontrolling interest attributable to exchangeable limited partnership units 221 258 453 552 Core FFO attributable to common stockholders/ unitholders - Diluted $ 1,559,348 $ 1,396,240 $ 3,000,073 $ 2,752,565 Less: Net Promote Income (Expense) 26,229 (13,437) 13,847 (24,330) Core FFO attributable to common stockholders/ unitholders, excluding Net Promote Income (Expense) - Diluted $ 1,533,119 $ 1,409,677 $ 2,986,226 $ 2,776,895 Weighted average common shares outstanding - Basic 933,092 928,476 932,175 927,909 Incremental weighted average effect on exchange of limited partnership units 20,160 22,990 21,061 23,383 Incremental weighted average effect of equity awards 4,632 4,675 4,418 4,577 Weighted average common shares outstanding - Diluted 957,884 956,141 957,654 955,869 Core FFO per share - Diluted $ 1.63 $ 1.46 $ 3.13 $ 2.88 Core FFO per share, excluding Net Promote Income (Expense) - Diluted $ 1.60 $ 1.47 $ 3.12 $ 2.91 Covered Land Plays are income generating assets acquired with the intention to redevelop for higher and better use as industrial properties. These assets may be included in our Operating Portfolio, Value-Added Properties or other real estate investments. Assets Under Management (“AUM”) represents the estimated fair value of the assets we own or manage through both our consolidated entities and unconsolidated co-investment ventures. We calculate AUM by adding Investment Capacity and the third-party investors’ share of the estimated fair value of the assets in the co-investment ventures to Enterprise Value. Third-Party AUM represents the third-party investors' share of the estimated fair value of the assets in the co-investment ventures plus the Investment Capacity from the third-party investors. Business Line Reporting is a non-GAAP financial measure. Core FFO and development gains are generated by our three lines of business: (i) real estate operations; (ii) strategic capital; and (iii) development. The real estate operations line of business represents total Prologis Core FFO, less the amount allocated to the strategic capital line of business. The amount of Core FFO allocated to the strategic capital line of business represents the third-party share of asset management fees and transactional fees that we earn from our consolidated and unconsolidated co-investment ventures less costs directly associated with our strategic capital group and Net Promote Income (Expense). Realized development gains include our share of gains on dispositions of development properties and land, net of taxes. To calculate the per share amount, the amount generated by each line of business is divided by the weighted average diluted common shares outstanding used in our Core FFO per share calculation. Management believes evaluating our results by line of business is a useful supplemental measure of our operating performance because it helps the investing public compare the operating performance of Prologis' respective businesses to other companies' comparable businesses. Prologis' computation of FFO by line of business may not be comparable to that reported by other real estate companies as they may use different methodologies in computing such measures. Debt Metrics. We evaluate the following debt metrics to monitor the strength and flexibility of our capital structure and evaluate the performance of our management. Investors can utilize these metrics to make a determination about our ability to service or refinance our debt. See below for the calculations. Indenture Global Line Covenant Actual Covenant Actual Leverage ratio <60% 32.2 % <60% 23.9 % Fixed charge coverage ratio >1.5x 7.1x >1.5x 8.4x Secured debt leverage ratio <40% 0.2 % <40% 0.1 % Unencumbered asset to unsecured debt ratio >150% 279.1 % N/A N/A Unencumbered debt service coverage ratio N/A N/A >150% 776.6 % Debt Covenants are calculated in accordance with the respective debt agreements and may be different than other covenants or metrics presented. They are not calculated in accordance with the applicable Securities Exchange Commission rules. Please refer to the respective agreements for full financial covenant descriptions. Debt covenants as of the period end were as follows:

Notes and Definitions (continued) Refer to page 9 for a reconciliation to Adjusted EBITDA from Consolidated Net Earnings Attributable to Common Stockholders. Prologis Share of gains on dispositions of development properties and land for the trailing twelve months was $593.3 million and $511.6 million for the current quarter and the previous quarter, respectively. Development Portfolio includes industrial and non-industrial properties, data centers, yards and parking lots that are under development and properties that are developed but have not met Stabilization. At June 30, 2026, total TEI for yards, parking lots, data centers and non-industrial assets was $2.9 billion on an Owned and Managed and $2.8 billion on a Prologis Share basis. We do not disclose square footage for yards and parking lots. Enterprise Value equals our Market Equity plus our share of total debt. Estimated Build Out (TEI and sq ft) represents the estimated TEI and finished square feet available for lease upon completion of an industrial building on existing parcels of land. Estimated Value Creation represents the value that we expect to create through our development and leasing activities. We calculate Estimated Value Creation by estimating the Stabilized NOI that the property will generate and applying a stabilized capitalization rate applicable to that property. Estimated Value Creation is calculated as the amount by which the value exceeds our TEI, including closing costs and taxes, if any, and does not include any fees or promotes we may earn. Three Months Ended Jun. 30, Mar. 31, dollars in thousands 2026 2026 Debt as a % of gross real estate assets: Consolidated debt $ 36,442,085 $ 34,669,592 Unamortized deferred financing costs and discount, net 533,758 525,386 Consolidated debt (at par) 36,975,843 35,194,978 Noncontrolling interests share of consolidated debt (at par) (27,434) (25,107) Prologis Share of unconsolidated debt (at par) 5,540,933 5,462,384 Total Prologis Share of debt (at par) 42,489,342 40,632,255 Prologis Share of outstanding foreign currency derivatives (2,303) (11,811) Consolidated cash and cash equivalents (1,765,043) (861,144) Noncontrolling interests share of consolidated cash and cash equivalents 23,735 25,455 Prologis Share of unconsolidated cash and cash equivalents (302,739) (381,729) Total Prologis Share of debt, net of adjustments $ 40,442,992 $ 39,403,026 Consolidated gross investments in real estate 97,013,785 95,241,445 Assets held for sale or contribution 498,975 499,799 Acquired intangible liabilities, net of assets (805,691) (817,598) Consolidated gross real estate assets 96,707,069 94,923,646 Noncontrolling interests share of consolidated gross real estate assets (4,181,455) (4,158,370) Prologis Share of unconsolidated gross real estate assets 20,906,392 20,522,301 Total Prologis Share of gross real estate assets $ 113,432,006 $ 111,287,577 Debt as a % of gross real estate assets 35.7 % 35.4 % Debt as a % of gross Market Capitalization: Total Prologis Share of debt, net of adjustments $ 40,442,992 $ 39,403,026 Total outstanding common stock and limited partnership units 951,950 951,976 Share price at quarter end $ 135.47 $ 132.18 Total equity capitalization $ 128,960,667 $ 125,832,188 Total Prologis Share of debt, net of adjustments 40,442,992 39,403,026 Gross Market Capitalization $ 169,403,659 $ 165,235,214 Debt as a % of gross Market Capitalization 23.9 % 23.8 % Secured debt as a % of gross real estate assets: Consolidated secured debt (at par) $ 222,490 $ 209,078 Noncontrolling interests share of consolidated secured debt (at par) (18,563) (18,761) Prologis Share of unconsolidated secured debt (at par) 206,816 224,872 Total Prologis Share of secured debt (at par) $ 410,743 $ 415,189 Total Prologis Share of gross real estate assets $ 113,432,006 $ 111,287,577 Secured debt as a % of gross real estate assets 0.4 % 0.4 % Unencumbered gross real estate assets to unsecured debt: Consolidated unencumbered gross real estate assets $ 95,972,736 $ 94,459,212 Noncontrolling interests share of consolidated unencumbered gross real estate assets (4,119,055) (4,095,962) Prologis Share of unconsolidated unencumbered gross real estate assets 20,516,647 20,042,720 Total Prologis Share of unencumbered gross real estate assets $ 112,370,328 $ 110,405,970 Consolidated unsecured debt (at par) 36,753,353 34,985,900 Noncontrolling interests share of consolidated unsecured debt (at par) (8,871) (6,346) Prologis Share of unconsolidated unsecured debt (at par) 5,334,117 5,237,512 Total Prologis Share of unsecured debt (at par) $ 42,078,599 $ 40,217,066 Unencumbered gross real estate assets to unsecured debt 267.0 % 274.5 % Three Months Ended Jun. 30, Mar. 31, dollars in thousands 2026 2026 Fixed Charge Coverage ratio: Adjusted EBITDA (a) $ 2,142,622 $ 2,178,034 Adjusted EBITDA-annualized including trailing twelve months of development gains and other and excluding Net Promote Income (Expense) (b) $ 8,601,858 $ 8,223,228 Net Promote Income (Expense) for the trailing twelve months (10,783) (50,448) Adjusted EBITDA-annualized $ 8,591,075 $ 8,172,780 Annualized NOI adjustment for real estate transactions (19,704) (37,056) Adjusted EBITDA, including NOI from real estate transactions, annualized $ 8,571,371 $ 8,135,724 Interest expense $ 276,311 $ 254,286 Amortization and write-off of deferred loan costs (7,817) (7,472) Amortization of debt discount, net (13,410) (13,160) Capitalized interest 29,270 33,038 Preferred stock dividends 1,347 1,500 Noncontrolling interests share of consolidated fixed charges (207) (407) Prologis Share of unconsolidated fixed charges 51,708 49,064 Total Prologis Share of fixed charges $ 337,202 $ 316,849 Total Prologis Share of fixed charges, annualized $ 1,348,808 $ 1,267,396 Fixed charge coverage ratio 6.4x 6.4x Debt to Adjusted EBITDA: Total Prologis Share of debt, net of adjustments $ 40,442,992 $ 39,403,026 Adjusted EBITDA-annualized $ 8,591,075 $ 8,172,780 Debt to Adjusted EBITDA ratio 4.7x 4.8x

Notes and Definitions (continued) Estimated Weighted Average Margin is calculated on development properties as Estimated Value Creation, less estimated closing costs and taxes, if any, on properties expected to be sold or contributed, divided by TEI. Estimated Weighted Average Stabilized Yield is calculated on the properties in the Development Portfolio as Stabilized NOI divided by TEI. The yields on a Prologis Share basis were as follows: Pre-Stabilized Developments 2026 Expected Completion 2027 and Thereafter Expected Completion Total Development Portfolio U.S. 5.7 % 6.6 % 8.2 % 7.6 % Other Americas — 7.6 % 7.5 % 7.6 % Europe 5.3 % 5.3 % 5.9 % 5.4 % Asia 5.7 % 6.2 % 4.9 % 5.2 % Total 5.6 % 6.1 % 7.7 % 7.0 % Fee Related Earnings ("FRE") is a non-GAAP financial measure and component of NAV. It is used to assess the performance of our strategic capital business and enables management and investors to estimate the corresponding fair value. FRE is calculated as the third-party share of asset management fees and transactional fees from our consolidated and unconsolidated co-investment ventures and other ventures, net of direct and allocated related expenses. As non-GAAP financial measures, FRE has certain limitations as an analytical tool and may vary among real estate and asset management companies. As a result, we provide a reconciliation of Strategic Capital Revenues (from our Consolidated Financial Statements prepared in accordance with U.S. GAAP) to our FRE measure, as follows: Three Months Ended Six Months Ended in thousands Jun. 30, 2026 Strategic capital revenues $ 241,619 $ 402,431 Less: Strategic capital revenue from property management fees (40,614) (82,094) Less: Prologis Share of asset management fees and transactional fees from unconsolidated entities (25,105) (51,087) Add: Third-party share of asset management fees and transactional fees from consolidated ventures 11,702 23,771 Effect of foreign currency exchange 887 1,278 Third-party share of fee related and promote revenue $ 188,489 $ 294,299 Less: Promote revenue (83,243) (83,303) Fee related revenue $ 105,246 $ 210,996 Less: Strategic capital expenses for asset management fees and transactional fees (41,606) Fee Related Earnings $ 63,640 Fee Related Earnings Annualized utilizes the components of the current quarter FRE to calculate an estimated annual FRE amount. FRE annualized is calculated as the current quarter third-party share of asset management fees from consolidated and unconsolidated co-investment ventures multiplied by four plus the third-party share of transactional fees from consolidated and unconsolidated co-investment ventures for the trailing twelve months. This total is reduced by trailing twelve months of strategic capital expenses for asset management and transactional fees. FFO, as modified by Prologis attributable to common stockholders/unitholders ("FFO, as modified by Prologis"); Core FFO attributable to common stockholders/unitholders ("Core FFO"); AFFO attributable to common stockholders/unitholders ("AFFO"); (collectively referred to as "FFO"). FFO is a non-GAAP financial measure that is commonly used in the real estate industry, with net earnings as the most directly comparable GAAP measure. The National Association of Real Estate Investment Trusts ("NAREIT") defines FFO as earnings computed under GAAP to exclude depreciation and gains and losses from sales net of any related tax, along with impairment charges, of previously depreciated properties. We exclude the gains on revaluation of equity investments upon acquisition of a controlling interest and the gain recognized from a partial sale of our investment, as these are similar to gains from the sales of previously depreciated properties. This measure excludes similar adjustments from our unconsolidated entities and the third parties' share of our consolidated ventures. Our FFO Measures Our FFO measures begin with NARElT’s definition, with certain adjustments to calculate FFO, as modified by Prologis, and Core FFO, both as defined below, to reflect our business and execution of our management strategy. While these adjustments are subject to significant fluctuations from period to period, with both positive and negative short-term impacts, the removal of the effects of these items enhances our understanding of the core operating performance of our properties over the long term. We use FFO, as modified by Prologis, so that management, analysts and investors are able to evaluate our performance against other REITs that do not have similar operations or operations in jurisdictions outside the U.S. We use both Core FFO and AFFO to (i) assess our operating performance as compared to other real estate companies; (ii) evaluate our performance and the performance of our properties in comparison with expected results and results of previous periods; (iii) evaluate the performance of our management; (iv) budget and forecast future results to assist in the allocation of resources; (v) provide guidance to the financial markets to understand our expected operating performance; and (vi) evaluate how a specific potential investment will impact our future results. We calculate our FFO measures based on our proportionate ownership share of both our unconsolidated entities and consolidated ventures. We reflect our share of our FFO measures for unconsolidated entities by applying our average ownership percentage for the period to the applicable adjustments on an entity-by-entity basis. We reflect our share for consolidated ventures in which we do not own 100% of the equity by removing the noncontrolling interests share of the applicable adjustments based on our average ownership percentage for the applicable periods. FFO, as modified by Prologis To arrive at FFO, as modified by Prologis, we adjust the NAREIT defined FFO measure to exclude: deferred income tax benefits and deferred income tax expenses recognized by our subsidiaries; current income tax expense related to acquired tax liabilities that were recorded as deferred tax liabilities in an acquisition, to the extent the expense is offset with a deferred income tax benefit in earnings that is excluded from our defined FFO measure; and foreign currency exchange gains and losses resulting from (a) debt transactions between us and our foreign entities; (b) third-party debt that is used to hedge our investment in foreign entities; (c) derivative financial instruments related to any such debt transactions; and (d) mark-to-market adjustments associated with derivative and other financial instruments.

Notes and Definitions (continued) Core FFO To arrive at Core FFO, we adjust FFO, as modified by Prologis, to exclude the following: gains or losses from the disposition of land and development properties that were developed with the intent to contribute or sell; income tax expense related to the sale of investments in real estate; impairment charges recognized related to our investments in real estate generally as a result of our change in intent to contribute or sell these properties; gains or losses from the early extinguishment of debt and redemption and repurchase of preferred stock; and third-party costs associated with the successful formation of new ventures. AFFO To arrive at AFFO, we adjust Core FFO to include realized gains from the disposition of land and development properties, net of current tax expense, turnover costs and property improvements and exclude the following items that we recognize directly in Core FFO: straight-line rents; amortization of above- and below-market lease intangibles; amortization of management contracts; amortization of debt premiums and discounts and financing costs, net of amounts capitalized; and stock compensation amortization expense. Limitations on the use of our FFO measures While we believe our modified FFO measures are important supplemental measures, neither NAREIT’s measures or our measures of FFO should be used alone because they exclude significant components of net earnings computed under GAAP and are, therefore, limited as an analytical tool. Some of these limitations arise from excluding income tax expense that may be payable or depreciation and amortization expenses that reflect costs necessary to maintain operating performance. In addition, our FFO measure does not reflect changes in asset values resulting from fluctuations in market conditions or foreign currency exchange rates nor costs or benefits from settlement of deferred income taxes or the extinguishment of debt. We do not use NAREIT’s measures or our measures of FFO as alternatives to net earnings computed under GAAP or as alternatives to cash from operating activities computed under GAAP or as indicators of our ability to fund our cash needs. We compensate for the limitations by using our FFO measures only in conjunction with net earnings computed under GAAP when making our decisions. This information should be read with our complete Consolidated Financial Statements prepared under GAAP. To assist investors in compensating for these limitations, we reconcile our modified FFO measures from consolidated net earnings attributable to common stockholders. General and Administrative Expenses ("G&A"). Our property management personnel perform the property-level management of the properties in our owned and managed portfolio, which include properties we consolidate and those we manage that are owned by the unconsolidated co-investment ventures. We allocate the costs of our property management function to the properties we consolidate (included in Rental Expenses) and the properties owned by the unconsolidated co-investment ventures (included in Strategic Capital Expenses) by using the square feet owned by the respective portfolios. Strategic Capital Expenses also include the direct expenses associated with the asset management of the unconsolidated co-investment ventures provided by our employees who are assigned to our strategic capital segment as well as promote expenses. We do not allocate indirect costs to Strategic Capital Expenses. Three Months Ended Six Months Ended Jun. 30, Jun. 30, in thousands 2026 2025 2026 2025 Building and land development activities $ 22,631 $ 25,115 $ 49,573 $ 55,785 Operating building improvements and other 19,167 15,516 39,175 28,494 Total capitalized G&A $ 41,798 $ 40,631 $ 88,748 $ 84,279 G&A as a Percent of Gross Book Value/Assets Under Management (dollars in thousands) Adjusted G&A (trailing twelve months): Net G&A $ 504,058 Add: strategic capital expenses (excluding promote expense) 261,398 Less: strategic capital property management expenses (103,014) Adjusted G&A $ 662,442 Gross book value at period end (a): Operating properties $ 145,233,450 Development portfolio - TEI 7,247,596 Land portfolio 5,071,670 Other real estate investments and assets held for sale 9,757,557 Total gross book value at period end (a) $ 167,310,273 G&A as % of gross book value at period end (a) 0.40 % Total value of Assets Under Management (a) $ 239,790,986 G&A as % of Assets Under Management 0.28 % (a) On an Owned and Managed basis. Guidance. The following is a reconciliation of our annual guided Net Earnings per share to our guided Core FFO per share: Low High Net earnings attributable to common stockholders (a) $ 4.40 $ 4.55 Our share of: Depreciation and amortization 3.26 3.29 Net gains on real estate transactions, net of taxes (1.45) (1.55) Unrealized foreign currency losses (gains), losses (gains) on early extinguishment of debt and other, net 0.01 0.01 Core FFO attributable to common stockholders/unitholders $ 6.22 $ 6.30 Less: Net Promote Income (Expense) – – Core FFO attributable to common stockholders/unitholders, excluding Net Promote Income (Expense) $ 6.22 $ 6.30 Earnings guidance includes potential future gains recognized from real estate transactions, but excludes future foreign currency or derivative gains or losses as these items are difficult to predict. IBI Activity Index is a seasonally-adjusted diffusion index based on a monthly survey of business activity from a geographically-diverse group of respondents across the U.S. Readings greater than 50 reflect growth in activity. These are proprietary metrics for the U.S. Prologis portfolio. We capitalize certain costs directly related to our development. Capitalized G&A expenses include salaries and related costs as well as other G&A costs. The capitalized costs were as follows:

Notes and Definitions (continued) Income Taxes. Three Months Ended Six Months Ended Jun. 30, Jun. 30, in thousands 2026 2025 2026 2025 Current income tax expense $ 81,087 $ 26,984 $ 127,566 $ 62,549 Current income tax expense (benefit) on dispositions 8,232 739 9,534 1,875 Total current income tax expense (benefit) 89,319 27,723 137,100 64,424 Deferred income tax expense (benefit) 18,854 (4,318) 19,044 2,364 Total income tax expense (benefit) $ 108,173 $ 23,405 $ 156,144 $ 66,788 Three Months Ended Six Months Ended Jun. 30, Jun. 30, in thousands 2026 2025 2026 2025 Gross interest expense $ 284,354 $ 256,211 $ 551,046 $ 490,488 Amortization of debt discounts, net 13,410 14,061 26,570 27,827 Amortization of finance costs 7,817 7,861 15,289 14,930 Interest expense before capitalization 305,581 278,133 592,905 533,245 Capitalized amounts (29,270) (26,267) (62,308) (49,628) Interest Expense $ 276,311 $ 251,866 $ 530,597 $ 483,617 Interest Expense. Net Effective Rent is calculated at the beginning of the lease using estimated total cash base rent to be received over the term and annualized, and excludes fair value lease amortization from acquisitions. Amounts derived in a currency other than the U.S. dollar have been translated using the average rate from the previous twelve months. The per square foot number is calculated by dividing the Net Effective Rent by the occupied square feet of the lease. Net Operating Income ("NOI") is a non-GAAP financial measure used to evaluate our operating performance and represents rental revenue less rental expenses. For our consolidated properties, it is calculated directly from our Consolidated Financial Statements as Rental Revenue less Rental Expenses. Net Promote Income (Expense) is promote revenue earned from third-party investors during the period, net of related cash and stock compensation expenses, and taxes and foreign currency derivative gains and losses, if applicable. Net Property Management Income represents property management fees less the costs of providing property management services. Non-GAAP Pro-Rata Financial Information. This information includes non-GAAP financial measures. The Prologis Share of unconsolidated co-investment ventures are derived on an entity-by-entity basis by applying our ownership percentage to each line item in the GAAP financial statements of these ventures to calculate our share of that line item. For purposes of balance sheet data, we use our ownership percentage at the end of the period and for operating information we use our average ownership percentage during the period consistent with how we calculate our share of net earnings (loss) during the period for our consolidated financial statements. We use a similar calculation to derive the noncontrolling interests share of each line item in our consolidated financial statements. We believe this form of presentation offers insights into the financial performance and condition of our company as a whole, given the significance of our co-investment ventures that are accounted for either under the equity method or consolidated with the third parties' share included in noncontrolling interests, although the presentation of such information may not accurately depict the legal and economic implications of holding a noncontrolling interest in the co-investment venture. Other companies may calculate their proportionate interest differently than we do, limiting the usefulness as a comparative measure. We do not control the unconsolidated co-investment ventures for purposes of GAAP and the presentation of the assets and liabilities and revenues and expenses do not represent a legal claim to such items. The operating agreements of the unconsolidated co-investment ventures generally provide that investors, including Prologis, may receive cash distributions (1) to the extent there is available cash from operations, (2) upon a capital event, such as a refinancing or sale, or (3) upon liquidation of the venture. The amount of cash each investor receives is based upon specific provisions of each operating agreement and varies depending on factors including the amount of capital contributed by each investor and whether any contributions are entitled to priority distributions. Upon liquidation of the co-investment venture and after all liabilities, priority distributions and initial equity contributions have been repaid, the investors generally would be entitled to any residual cash remaining based on their respective legal ownership percentages. Because of these limitations, the Non-GAAP Pro-Rata Financial Information should not be considered in isolation or as a substitute for our consolidated financial statements as reported under GAAP. Investment Capacity is our estimate of the gross real estate that could be acquired by our co-investment ventures through the use of existing equity commitments from us and third-party investors, less any unpaid redemption requests, assuming a midpoint of the target leverage range of the ventures. Lease Negotiation Gestation is the measurement of the number of days between the first proposal exchange with the prospective customer and the final lease signing, including lease terms less than twelve months. This is for new leases in our Operating Portfolio only and excludes renewals. Lease Proposals are the total initial proposals sent to prospective customers in our Operating Portfolio, measured by net rentable area in square feet. Proposals as a percent of available net rentable area refers to proposals on units vacant or expiring in the next twelve months. Includes proposals with lease terms less than twelve months, as well as customer expansions and renewals. Market Capitalization equals Market Equity, less liquidation preference of the preferred shares/units, plus our share of total debt. Market Equity equals outstanding shares of common stock and units multiplied by the closing stock price plus the liquidation preference of the preferred shares/units. Net Asset Value ("NAV"). We consider NAV to be a useful supplemental measure of our operating performance because it enables both management and investors to estimate the fair value of our business. The assessment of the fair value of a particular line of our business is subjective in that it involves estimates and can be calculated using various methods. Therefore, we have presented the financial results and investments related to our business components that we believe are important in calculating our NAV but we have not presented any specific methodology nor provided any guidance on the assumptions or estimates that should be used in the calculation. The components of NAV do not consider the potential changes in rental and fee income streams or the franchise value associated with our global operating platform, strategic capital platform or development platform.

Notes and Definitions (continued) Non-Strategic Assets are industrial properties, which we acquired primarily through Merger and Acquisition ("M&A") transactions, that we do not intend to hold long-term. These industrial properties are classified as other real estate Investments. Operating Portfolio represents industrial properties in our Owned and Managed portfolio that have reached Stabilization. Assets held for sale, Non-Strategic Assets and non-industrial assets are excluded from the portfolio. NOI of our Operating Portfolio excludes net termination fees and adjustments. Prologis Share of NOI includes NOI for the properties contributed to or acquired from co-investment ventures at our actual share prior to and subsequent to change in ownership. The U.S. markets not presented consist of Austin, Charlotte, Columbus, Denver, Louisville, Portland, Raleigh-Durham, Reno, San Antonio, Savannah and Tampa. The European countries not presented consist of Belgium, Czech Republic, Hungary, Italy, Poland, Slovakia, Spain and Sweden. Owned and Managed represents the consolidated properties as well as properties owned by our unconsolidated co-investment ventures, which we manage. Prologis Share represents our proportionate economic ownership of each entity, or property included in our total Owned and Managed portfolio, whether consolidated or unconsolidated. Three Months Ended Six Months Ended Jun. 30, Jun. 30, in thousands 2026 2025 2026 2025 Rental revenues $ 1,541,593 $ 1,401,020 $ 3,031,732 $ 2,770,829 Rental recoveries 472,704 435,107 940,141 873,503 Amortization of lease intangibles 72,343 85,650 147,016 174,379 Straight-lined rents 90,434 103,555 183,269 193,886 Rental Revenues $ 2,177,074 $ 2,025,332 $ 4,302,158 $ 4,012,597 We evaluate the performance of the operating properties we own and manage using a "same store" analysis because the population of properties in this analysis is consistent from period to period, which allows us and investors to analyze our ongoing business operations. We determine our same store metrics on property NOI, which is calculated as rental revenue less rental expense for the applicable properties in the same store population for both consolidated and unconsolidated properties based on our ownership interest, as further defined below. We define our same store population for the three months ended June 30, 2026 as the properties in our Owned and Managed Operating Portfolio, including the property NOI for both consolidated properties and properties owned by the unconsolidated co-investment ventures at January 1, 2025 and owned throughout the same three-month period in both 2025 and 2026. We believe the drivers of property NOI for the consolidated portfolio are generally the same for the properties owned by the ventures in which we invest and therefore we evaluate the same store metrics of the Owned and Managed portfolio based on Prologis' ownership in the properties ("Prologis Share"). The same store population excludes properties held for sale to third parties, along with development properties that were not stabilized at the beginning of the period (January 1, 2025) and properties acquired or disposed of to third parties during the periods. To derive an appropriate measure of period- to-period operating performance, we remove the effects of foreign currency exchange rate movements by using the reported period-end exchange rate to translate from local currency into the U.S dollar, for both periods. As non-GAAP financial measures, the same store metrics have certain limitations as an analytical tool and may vary among real estate companies. As a result, we provide a reconciliation of Rental Revenues less Rental Expenses ("Property NOI") (from our Consolidated Financial Statements prepared in accordance with U.S GAAP) to our Same Store Property NOI measures, as follows: Rent Change (Cash) represents the percentage change in starting rental rates per the lease agreement, on new and renewed leases, commenced during the period compared with the previous ending rental rates in that same space. This measure excludes any short-term leases of less than one-year, holdover payments, free rent periods and introductory (teaser rates) defined as 50% or less of the stabilized rate. Rent Change (Net Effective) represents the percentage change in net effective rental rates (average rate over the lease term), on new and renewed leases, commenced during the period compared with the previous net effective rental rates for the same respective spaces. This measure excludes any short-term leases of less than one year and holdover payments. Retention is the square footage of all leases commenced during the period that are rented by existing tenants divided by the square footage of all expiring leases during the reporting period. The square footage of tenants that default or buy-out prior to expiration of their lease and short-term leases of less than one year, are not included in the calculation. Same Store. Our same store metrics are non-GAAP financial measures, which are commonly used in the real estate industry and expected from the financial community, on both a net effective and cash basis. Power Pipeline is expressed in watts and consists of Secured Power and Advanced Stage Power. All sites in the Power Pipeline are owned or controlled by the company and are subject to applicable approvals, including regulatory approvals and entitlements. Secured Power is utility-fed power capacity that is subject to binding agreements with utilities and expected to support our data center development pipeline, including capacity currently under development. Advanced Stage Power is utility-fed power capacity that is not yet secured but is in advanced discussions with the applicable utilities and is expected to support our data center development pipeline. There is no guarantee that such capacity will become secured power. Rental Revenues.

Notes and Definitions (continued) We exclude properties held for sale to third parties, along with development properties that were not stabilized at the beginning of the periods and properties acquired or disposed of to third parties during the periods. We also exclude one-time items due to early lease terminations, including termination fees received from customers and the write-off of related lease assets and liabilities, that are not indicative of the property’s recurring operating performance in order to evaluate the growth or decline in each property’s rental revenues. Same Store Property NOI is adjusted to include an allocation of property management expenses for our consolidated properties based on the property management services provided to each property (generally, based on a percentage of revenues). On consolidation, these amounts are eliminated and the actual costs of providing property management and leasing services are recognized as part of our consolidated rental expense. We include the Property NOI for the same store portfolio for both consolidated properties and properties owned by the co-investment ventures based on our investment in the underlying properties. In order to calculate our share of Same Store Property NOI from the co-investment ventures in which we own less than 100%, we use the co-investment ventures’ underlying Property NOI for the same store portfolio and apply our ownership percentage at June 30, 2026 to the Property NOI for both periods, including the properties contributed during the periods. We adjust the total Property NOI from the same store portfolio of the co-investment ventures by subtracting the third parties' share of both consolidated and unconsolidated co-investment ventures. During the periods presented, certain wholly owned properties were contributed to a co-investment venture and are included in the same store portfolio. Neither our consolidated results nor those of the co-investment ventures, when viewed individually, would be comparable on a same store basis because of the changes in composition of the respective portfolios from period to period (e.g. the results of a contributed property are included in our consolidated results through the contribution date and in the results of the venture subsequent to the contribution date based on our ownership interest at the end of the period). As a result, only line items labeled "Prologis Share of Same Store Property NOI" are comparable period over period. We further remove certain noncash items (straight-line rent and fair value lease amortization) included in the financial statements prepared in accordance with U.S. GAAP to reflect a Same Store Property NOI - Cash measure. We manage our business and compensate our executives based on the same store results of our Owned and Managed portfolio at 100% as we manage our portfolio on an ownership blind basis. We calculate those results by including 100% of the properties included in our same store portfolio. Same Store Average Occupancy represents the average occupied percentage of the Same Store portfolio for the period. Space Utilization is our customer's assessment of their utilization of their unit on a scale of 0-100% and is based on a monthly survey of a geographically-diverse group of respondents across the U.S portfolio. Stabilization is defined as the earlier of when a property that was developed has been completed for one year, is contributed to a co-investment venture following completion or is 90% occupied. Upon Stabilization, a property is moved into our Operating Portfolio. Stabilized NOI is equal to the estimated twelve months of potential gross rental revenue (base rent, including above or below market rents plus operating expense reimbursements) multiplied by 95% to adjust income to a stabilized vacancy factor of 5% minus estimated operating expenses. Total Expected Investment ("TEI") represents total estimated cost of development or expansion, including land, development and leasing costs. TEI is based on current projections and is subject to change. Turnover Costs represent the estimated obligations incurred in connection with the signing of a lease; including leasing commissions and tenant improvements and are presented for leases that commenced during the period. Tenant improvements include costs to prepare a space for a new tenant or a lease renewal with the current tenant. It excludes costs for a first generation lease (i.e. a new development property) and short-term leases of less than one year. Value-Added Properties are properties we have either acquired at a discount and believe we could provide greater returns post-stabilization or properties we expect to repurpose to higher uses. Weighted Average Interest Rate is based on the effective rate, which includes the amortization of related premiums and discounts and finance costs. Weighted Average Stabilized Capitalization ("Cap") Rate is calculated as Stabilized NOI divided by the Acquisition Price. Three Months Ended Jun. 30, dollars in thousands 2026 2025 Change (%) Reconciliation of Consolidated Property NOI to Same Store Property NOI measures: Rental revenues $ 2,177,074 $ 2,025,332 Rental expenses (530,861) (487,963) Consolidated Property NOI $ 1,646,213 $ 1,537,369 Adjustments to derive same store results: Property NOI from consolidated properties not included in same store portfolio and other adjustments (a) (179,260) (158,079) Property NOI from unconsolidated co-investment ventures included in same store portfolio (a)(b) 1,000,076 939,990 Third parties' share of Property NOI from properties included in same store portfolio (a)(b) (777,776) (731,166) Prologis Share of Same Store Property NOI - Net Effective (b) $ 1,689,253 $ 1,588,114 6.4 % Consolidated properties straight-line rent and fair value lease amortization included in the same store portfolio (c) (128,107) (144,879) Unconsolidated co-investment ventures straight-line rent and fair value lease amortization included in the same store portfolio (c) (34,940) (37,338) Third parties' share of straight-line rent and fair value lease amortization included in the same store portfolio (b)(c) 29,086 28,117 Prologis Share of Same Store Property NOI - Cash (b)(c) $ 1,555,292 $ 1,434,014 8.5 %