Company: PLDGP
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001193125-25-067058
Chunk: 51

Company: Prologis, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 51
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 conversions. Moreover, because this property was owned by a Strategic Capital vehicle, Prologis earned a $112M fee related to the transaction. |

| l |     | Strategic Capital: The overall macro environment made fundraising in 2024 extremely difficult, as continued uncertainty around valuations slowed new capital investments. Nevertheless, our teams raised $2.61B across all vehicles in 2024, which was approximately $1B more than the amount raised in 2023. Mr. Letter successfully onboarded key new hires in our Strategic Capital business, which we expect to further drive capital raising in 2025. |

| (1) | Our Core FFO per share target was held constant from 2012 to 2013. It has otherwise increased year-over-year since the Merger. |

| (2) | Core FFO per share excluding Net Promote Income (Expense). Core FFO per share and same store NOI (SSNOI) are non-GAAP measures. See Appendix A for definitions and discussions of non-GAAP measurements and reconciliations to the most directly comparable GAAP measures. |

| COMPENSATION DISCUSSION AND ANALYSIS |

| l |     | Global Impact and Sustainability: Our results reflect the priority, resources and talent we have dedicated to our industry-leading impact and sustainability program. We continued to deliver strong results: Solar installations fell short of target, but volunteer hours and third-party governance scores exceeded our high-reach expectations. Notably, our teams installed LED lighting in 100% of eligible new developments and redevelopments under operational leadership from Mr. Letter and Mr. Andrus, and also obtained sustainability certifications on 100% of our eligible new developments.(1) |

| The company’s unique culture was profiled in a Wall Street Journal article, The Little-Known Company That Gives Its Employees a Real Voice, which reported that the Drucker Institute ranked Prologis among the top 10 companies for employee engagement and development. We also exceeded our regrettable turnover goal, with only 1% of all turnover being regrettable. This builds a company culture that attracts and retains the best talent for our business. |

| l |     | Balance Sheet Considerations: Our balance sheet and credit metrics remain very strong with one of the top balance sheets among REITs. We have significant liquidity as well as debt capacity to self-fund our growth for the foreseeable future. We maintained our “A3” rating from Moody’s in 2024 (and were later upgraded to “A