Company: PLDGP
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001193125-25-067058
Chunk: 55

Company: Prologis, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 55
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s in 2024 were paid 100% in equity with four-year vesting.                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |

| COMPENSATION DISCUSSION AND ANALYSIS |

| HOW IT WORKS |

Strategic Capital structure: The connection between Promotes and PPP awards

| l |     | A portion of Promotes is used to pay awards: PPP awards are a function of Promotes paid to Prologis. When certain vehicle rates of return exceed pre-set hurdles, Prologis earns a Promote. Part of that Promote is used to fund PPP awards. |

| l |     | Each PPP pool is reduced by Prologis’ ownership percentage: When calculating a PPP award pool, we reduce each PPP pool by the percentage Prologis owns in the applicable vehicle. Prologis has significant ownership interests in our vehicles, typically ranging from 15% to 55%. For example, if we own 30% of a given vehicle, we reduce the associated PPP pool by 30% before calculating PPP awards. After subtracting our percentage interest in this manner, 25% of the remaining pool is distributed as PPP awards.(1) |

| (1) | 25% beginning with Promote fees earned in 2024. |

| COMPENSATION DISCUSSION AND ANALYSIS |

PPP Awards Paid in 2024 CEO PPP awards were only 0.07% of the total value created for our stockholders when we achieved Promote hurdles. When our Strategic Capital vehicles achieve Promote earning hurdles, the vast majority of the value created for the company directly benefits Prologis’ stockholders. The Promotes that funded 2024 PPP awards required us to achieve rigorous performance hurdles.

| l |     | Promotes earned by FIBRA Prologis (FIBRA) gave rise to PPP awards to NEOs in 2024. |

| l |     | FIBRA is a leading Mexican REIT and our primary Strategic Capital vehicle in Mexico. It is a publicly listed vehicle, with its equity listed on the Mexican Stock Exchange. As of year-end 2024, FIBRA’s portfolio comprised 509 facilities, totaling 87.1M square feet. |

| l |     | Annual performance periods: An annual performance hurdle was established in connection with FIBRA’s public listing and has applied since the vehicle’s IPO in June 2014. |

| l |     | FIBRA hurdles required significant value creation: To earn the FIBRA Promotes, we were