Company: PLDGP
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001193125-25-067058
Chunk: 111

Company: Prologis, Inc.
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 111
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 increase from 2023 to 2024). |

| l |     | Prologis’ Core FFO per share excluding Net PromoteIncome (Expense)(6)has increased each year between 2020 and 2024, from $3.58 in 2020 to $4.09 in 2021 (a 14% increase from 2020 to 2021) to $4.61 in 2022 (a 13% increase from 2021 to 2022) to $5.10 in 2023 (an 11% increase from 2022 to 2023) to $5.53 in 2024 (an 8% increase from 2023 to 2024), for an overall increase of 54% from 2020 to 2024. |

| l |     | As discussed above, Compensation Actually Paid to our PEO andNon-PEONEOs increased from 2020 to 2021, decreased from 2021 to 2022, increased again from 2022 to 2023, then decreased from 2023 to 2024. |

| l |     | The relationship between Core FFO per share excluding Net Promote Income (Expense)(6)and Compensation Actually Paid underscores that while Prologis’ stock price declined from 2021 to 2022 and 2023 to 2024—largely due to broader macroeconomic market factors—and thus resulted in lower Compensation Actually Paid (and Prologis TSR) from 2021 to 2022 and 2023 to 2024, our operational performance remained strong as demonstrated by key operational indicators like Core FFO per share excluding Net Promote Income (Expense)(6). Net Income also increased year-over-year from 2021 to 2022 and 2023 to 2024, showing an overall increase from 2020 to 2024. |

Prologis TSR vs. peer group total shareholder return:Prologis TSR outpaced the total shareholder return of the MSCI U.S. REIT Index in each of 2020, 2021, 2022, 2023 and 2024. By year-end2024, the value of a $100 investment made at the end of 2019 in Prologis would have been worth $ 135.08versus only $ 123.47for such an investment made at the same time in the MSCI U.S. REIT Index