Company: PLDGP
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001193125-25-067058
Chunk: 151

Company: Prologis, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 151
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 believe the drivers of property NOI for the consolidated portfolio are generally the same for the properties owned by the ventures in which we invest. The same store population excludes properties held for sale to third parties, along with development properties that were not stabilized at the beginning of the period (January 1, 2023) and properties acquired or disposed of to third parties during the period. To derive an appropriate measure of period-to-periodoperating performance, we remove the effects of foreign currency exchange rate movements by using the reported period-endexchange rate to translate from local currency into the U.S. dollar, for both periods.

| APPENDIX A: DEFINITIONS AND RECONCILIATIONS OF GAAP AND NON-GAAP FINANCIAL MEASURES |

We evaluate the results of our same store portfolio on a quarterly basis. The following table summarizes same store NOI and the change from the prior period for the four quarters of 2024 and on a cumulative annual basis and the square feet of the portfolio used in the calculation (dollars and square feet in millions):

|                               |     | Three Months Ended |          |     |          |     |              |     |             |     |           |
|                               |     |                    | March 31 |     |  June 30 |     | September 30 |     | December 31 |     | Full Year |
| 2024 NOI—same store portfolio |     |                    | $1,961.4 |     | $1,980.1 |     |     $2,041.1 |     |    $2,042.9 |     |  $8,025.5 |
| 2023 NOI—same store portfolio |     |                    | $1,881.9 |     | $1,881.2 |     |     $1,921.6 |     |    $1,927.3 |     |  $7,612.0 |
| Percentage change             |     |                    |     4.2% |     |     5.3% |     |         6.2% |     |        6.0% |     |      5.4% |
| Square feet of portfolio      |     |                    |  1,079.6 |     |  1,076.3 |     |      1,073.9 |     |     1,070.2 |     |           |

The following is a reconciliation of our consolidated Rental Revenues, Rental