Company: PLDGP
Filing Date: 2025-10-03
Form Type: 424B3
Source: 0001104659-25-096724
Chunk: 13

Company: Prologis, Inc.
Filing Date: 2025-10-03
Form: 424B3
Chunk 13
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 prospectus. | ​ |
| ​ | Income and loss from the Operating Partnership generally is subject to the “passive activity” limitations. Under the “passive activity” rules, partners can generally offset income and loss from the Operating Partnership that is considered “passive income” against income and loss from other investments that constitute “passive activities.” However, this offset will not be available if the Operating Partnership becomes a publicly traded partnership (as defined in the Internal Revenue Code).                                                                                                                                                                                                                   | ​ | ​ | Dividends paid by us will be treated as “portfolio” income and stockholders cannot offset these dividends with losses from “passive activities.”                                                                                                                                                                                                                                                                                  | ​ |
| ​ | Holders of limited partnership units are required, in some cases, to file state income tax returns and/or pay state income taxes in the states in which the Operating Partnership owns property, even if they are not residents of those states.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                | ​ | ​ | Stockholders who are individuals generally will not be required to file state income tax returns and/or pay state income taxes outside of their state of residence with respect to our operations and distributions. We may be required to pay state income taxes in certain states.                                                                                                                                              | ​ |

S-12

TABLE OF CONTENTS

### SUPPLEMENTAL UNITED STATES FEDERAL INCOME TAX CONSIDERATIONS
The following is a general summary of the United States federal income tax considerations regarding the exchange of the common units for our common stock. This summary supplements, and should be read in connection with, the summary under the heading “United States Federal Income Tax Considerations” in the accompanying prospectus. This summary of material federal income tax considerations is for general information only and is not tax advice. The information in this summary is based on current law, including:

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the Internal Revenue Code of 1986, as amended;

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current, temporary and proposed Treasury regulations promulgated under the Internal Revenue Code;

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the legislative history of the Internal Revenue Code;

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current administrative interpretations and practices of the Internal Revenue Service; and

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court decisions;

in each case, as of the date of this prospectus supplement. In addition, the administrative interpretations and practices of the Internal Revenue Service include its practices and policies as expressed in private letter rulings which are not binding on the Internal Revenue Service except with respect to the particular taxpayers that requested and received those rulings. Future legislation, Treasury regulations, administrative interpretations and practices and/or court decisions may adversely affect the tax considerations described in this prospectus supplement