Company: PLDGP
Filing Date: 2025-08-15
Form Type: S-3ASR
Source: 0001104659-25-079231
Chunk: 196

Company: Prologis, Inc.
Filing Date: 2025-08-15
Form: S-3ASR
Chunk 196
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 of:

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The acquisition, ownership and sale or other disposition of the securities offered by this prospectus, including the federal, state, local, foreign and other tax consequences;

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

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Potential changes in applicable tax laws.

#### Our Qualification and Taxation as a REIT
General. We elected to be taxed as a REIT under Sections 856 through 860 of the Code, commencing with our taxable year ending December 31, 1997. We believe that we have been organized and have operated in a manner that allows us to qualify for taxation as a REIT under the Code commencing with our taxable

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year ending December 31, 1997, and we currently intend to continue to be organized and operate in this manner. However, our qualification and taxation as a REIT depend upon our ability to meet the various qualification tests imposed under the Code, including through actual annual operating results, asset composition, distribution levels and diversity of stock ownership, the results of which have not been and will not be reviewed by our tax counsel. Accordingly, the actual results of our operations during any particular taxable year may not satisfy those requirements, and no assurance can be given that we have operated or will continue to operate in a manner so as to qualify or remain qualified as a REIT. See “— Failure to Qualify.”

The sections of the Code and the corresponding Treasury regulations that relate to the qualification and taxation as a REIT are highly technical and complex. This summary is qualified in its entirety by the applicable Code provisions, relevant rules and Treasury regulations promulgated under the Code, and administrative and judicial interpretations of the Code, and those rules and Treasury regulations.

Provided we qualify for taxation as a REIT, we generally will not be required to pay federal corporate income taxes on our net income that is currently distributed to our stockholders. This treatment substantially eliminates the “double taxation” that ordinarily results from investment in a “C corporation.” Double taxation means taxation once at the corporate level when income is earned and once again at the stockholder level when that income is distributed. We will, however, be required to pay federal income tax as follows:

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First, we will be required to pay tax at the corporate rate on any undistributed “REIT taxable income,” including undistributed net capital gains.

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Second, if we have (1) net income from the sale or other