Company: PLDGP
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001193125-25-067058
Chunk: 149

Company: Prologis, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 149
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 costs to strategic capital expenses. Global Customer Retention.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-outprior to expiration of their lease and short-term leases of less than one year, are not included in the calculation. GRESB(“Global Real Estate Sustainability Benchmark”) assesses the sustainability performance of real estate and infrastructure portfolios and assets worldwide. Investment Capacityis our estimate of the gross real estate that could be acquired by our co-investmentventures through the use of existing equity commitments, less any unpaid redemption requests, assuming a midpoint of the target leverage range of the ventures. LED lighting. LEDstands for “light-emitting diode.” LED lighting is a type of energy efficient lighting. Liquidityis equal to the sum of the current availability of our consolidated credit facilities ($6.1 billion) plus our consolidated cash and cash equivalents ($1.3 billion).

| APPENDIX A: DEFINITIONS AND RECONCILIATIONS OF GAAP AND NON-GAAP FINANCIAL MEASURES |

Loan-to-MarketValue,or debt as a percentage of gross market capitalization, is a non-GAAPmeasure used by us to analyze the leverage risk in our debt risk portfolio. We make adjustments to reflect our economic ownership in each entity in which we invest, whether consolidated or unconsolidated. The following table presents the calculation of Loan-to-MarketValue for the years ended December 31 (in thousands).

| Debt as a % of gross real estate assets:                                 |     |   |        2024 |   |     |   |        2023 |   |     |   |        2022 |   |     |   |        2021 |   |     |   |       2020 |   |     |   |       2019 |   |     |   |       2018 |   |
|:-------------------------------------------------------------------------|:----|:--|------------:|:--|:----|:--|------------:|:--|:----|:--|------------:|:--|:----|:--|------------:|:--|:----|:--|-----------:|:--|:----|:--|-----------:|:--|:----|:--|-----------:|:--|
| Consolidated debt                                                        |     | $ |  30,879,