Company: PLDGP
Filing Date: 2025-10-03
Form Type: 424B3
Source: 0001104659-25-096724
Chunk: 12

Company: Prologis, Inc.
Filing Date: 2025-10-03
Form: 424B3
Chunk 12
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, the general interest in our and other real estate investments, and our dividend yield compared to that of other debt and equity securities. Our common stock is not redeemable or convertible at the option of the holder. 
 Transfers of our common stock are subject to the ownership limits set forth in our charter as such limits may be changed by our board of directors.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | ​ | ​ |   |   |
| ​ | Taxes                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | ​ | ​ |   |   |
| ​ | The Operating Partnership itself is not subject to federal income taxes. Instead, each holder of limited partnership units includes its allocable share of the Operating Partnership’s taxable income or loss in                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | ​ | ​ | Distributions made by us to our taxable domestic stockholders out of current or accumulated earnings and profits will be taken into account by them as dividend income taxable as ordinary                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | ​ | ​ |   |   |

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TABLE OF CONTENTS

| ​ | Prologis, L.P.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  | ​ | ​ | Prologis, Inc.                                                                                                                                                                                                                                                                                                                                                                                                                    | ​ |
| ​ | determining its individual federal income tax liability. The allocation of the Operating Partnership’s income and loss is discussed under the heading “United States Federal Income Tax Considerations — Tax Aspects of the Operating Partnership, the Subsidiary Partnerships and the Limited Liability Companies — Allocations of Income, Gain, Loss and Deduction” in the accompanying prospectus. Cash distributions from the Operating Partnership are generally not taxable to a holder of limited partnership units except to the extent they exceed the holder’s basis in its interest in the Operating Partnership (which will include such holder’s allocable share of the Operating Partnership’s nonrecourse debt). | ​ | ​ | income. Distributions that are designated as capital gain dividends generally will be taxed as gains from the sale or disposition of a capital asset.                                                                                                                                                                                                                                                                             
 Distributions in excess of current or accumulated earnings and profits will be treated as a nontaxable return of basis to the extent of a stockholder’s adjusted basis in our common stock, with the excess taxed as capital gain. The tax treatment of our domestic stockholders is discussed under the heading “United States Federal Income Tax Considerations — Taxation of Our Stockholders” in the accompanying