Company: PLDGP
Filing Date: 2025-10-03
Form Type: 424B3
Source: 0001104659-25-096724
Chunk: 14

Company: Prologis, Inc.
Filing Date: 2025-10-03
Form: 424B3
Chunk 14
---
. Any such change could apply retroactively.

We have not requested, and do not plan to request, any rulings from the Internal Revenue Service with respect to matters contained in this discussion, and the statements in this prospectus supplement are not binding on the Internal Revenue Service or any court. We can provide no assurance that the tax considerations described in this discussion will not be challenged by the Internal Revenue Service or, if so challenged, would be sustained by a court.

In addition, this summary does not consider the effect of any foreign, state, local or other tax laws that may be applicable to the exchange of the common units for our common stock. Also, this summary does not deal with all aspects of federal income taxation that may affect particular holders of common units in light of their individual circumstances, or with holders subject to special treatment under the federal income tax laws, including:

•

insurance companies;

•

tax-exempt organizations;

•

financial institutions or broker-dealers;

•

traders in securities that elect to mark to market;

•

holders owning our capital stock as part of a “straddle,” “hedge,” “conversion” or other risk reduction transaction;

•

holders whose functional currency is not the United States dollar;

•

holders subject to the alternative minimum tax;

•

persons deemed to sell our capital stock under the constructive sale provisions of the Internal Revenue Code;

•

“S” corporations;

•

partnerships and persons holding our capital stock through an entity treated as a partnership for federal income tax purposes;

•

expatriates;

•

REITs or regulated investment companies;

•

holders who acquire our capital stock as compensation; and

•

foreign holders.

<div align='center'>S-13</div>

**TABLE OF CONTENTS

Potential investors and selling stockholders are urged to consult their respective tax advisors regarding the specific tax consequences of:**

•

The exchange or redemption of common units for our common stock;

•

The acquisition, ownership and sale or other disposition of our common stock, including the federal, state, local, foreign and other tax consequences;

•

Our election to be taxed as a REIT for federal income tax purposes; and

•

Potential changes in applicable tax laws.

Tax Consequences of the Exercise of Exchange Rights

If the selling stockholder exercises its right to require the Operating Partnership to acquire all or part of its common units, and we elect to acquire some or all of its units in exchange for our common stock, the exchange will be a taxable transaction. Selling stockholders generally will recognize gain in an amount equal to the value of our common