Company: PLDGP
Filing Date: 2025-10-03
Form Type: 424B3
Source: 0001104659-25-096724
Chunk: 6

Company: Prologis, Inc.
Filing Date: 2025-10-03
Form: 424B3
Chunk 6
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 the shares by the selling stockholders but we have agreed to pay certain registration expenses.

We will acquire common limited partnership units in the Operating Partnership in exchange for any shares of common stock that we may issue to common limited partnership unit holders of the Operating Partnership pursuant to this prospectus supplement.

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TABLE OF CONTENTS

#### REDEMPTION/EXCHANGE OF COMMON LIMITED PARTNERSHIP

### UNITS FOR COMMON STOCK

#### Terms of the Exchange
The common limited partnership units of the Operating Partnership held by the selling stockholders named in this prospectus supplement generally became redeemable, on a one-for-one basis, for our common stock one year after their issuance. The performance units of the Operating Partnership became redeemable, on a one-for-one basis, for our common stock two years after their issuance. The respective selling stockholders may require the Operating Partnership to redeem their limited partnership units, in whole or in part, for cash by delivering to us, as the general partner of the Operating Partnership, a notice of redemption. The performance units are similar to the common limited partnership units in many respects, including the right to share in operating distributions, and allocations of operating income and loss of the Operating Partnership on a pro rata basis with common limited partnership units, and certain redemption rights, including limited rights to cause the Operating Partnership to redeem the performance units for cash or, at the Operating Partnership’s option, to have us exchange the performance units for shares of our common stock. However, the selling stockholders holding performance units may not require the Operating Partnership to redeem, and the Operating Partnership may not redeem, a number of performance units in excess of the number of performance units equal to the amount of the unitholder’s capital account balance immediately following the revaluation of the Operating Partnership’s assets pursuant to the partnership agreement, divided by the fair market value of a share of our common stock. Upon receipt of the notice of redemption, the Operating Partnership must deliver the cash payment due such unitholder upon redemption within ten days; provided, however, that the Operating Partnership may, in its sole and absolute discretion (subject to the limitations on ownership and transfer of common stock set forth in our charter), elect to have us exchange those common limited partnership units for shares of our common stock on a one-for-one basis, subject to adjustment as described under “Description of Certain Provisions of the Partnership Agreement of Prologis, L.P. — Common Limited Partnership Units — Redemption Rights” in the accompanying prospectus.