Company: PLDGP
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001193125-25-067058
Chunk: 150

Company: Prologis, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 150
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     | $ | 133,486,525 |   |     | $ | 147,878,440 |   |     | $ | 94,582,666 |   |     | $ | 70,927,758 |   |     | $ | 50,797,905 |   |
| Debt as a % of gross market capitalization                               |     |   |        25.6 | % |     |   |        20.5 | % |     |   |        20.1 | % |     |   |        13.5 | % |     |   |       20.0 | % |     |   |       18.3 | % |     |   |       25.0 | % |

Nareit(or NAREIT) is the representative voice for real estate investment trusts and publicly traded real estate companies with an interest in U.S. real estate and capital markets. Net Operating Income (“NOI”)is a non-GAAPfinancial measure used to evaluate our operating performance and represents rental revenue less rental expenses. For our consolidated properties, it is calculated directly from our Consolidated Financial Statements as Rental Revenue less Rental Expenses. Net Promote Income (Expense)includes actual promote revenue earned from third-party investors during the period, net of related cash and stock compensation expenses, and taxes and foreign currency derivative gains and losses, if applicable. REITis defined as areal estate investment trust. Same Store.Our same store metrics are non-GAAPfinancial measures, which are commonly used in the real estate industry and expected from the financial community, on both a net effective and cash basis. We evaluate the performance of the operating properties we own and manage using a “same store” analysis because the population of properties in this analysis is consistent from period to period, which allows us and investors to analyze our ongoing business operations. We determine our same store metrics on property NOI, which is calculated as rental revenue less rental expense for the applicable properties in the same store population for both consolidated and unconsolidated properties based on our ownership interest, as further defined below. We define our same store population for the three months ended December 31, 2024, as the properties in our owned and managed operating portfolio, including the property NOI for both consolidated properties and properties owned by the unconsolidated co-investmentventures at January 1, 2023, and owned throughout the same three-month period in both 2023 and 2024. We