Document:

EX-4.1

 Exhibit 4.1 

Officers’ Certificate 

October 7, 2014 
 The
undersigned officers of Prologis, Inc. (“Prologis, Inc.”), general partner of Prologis, L.P. (the “Company”), on behalf of the Company, acting pursuant to resolutions adopted by the Board of Directors of Prologis,
Inc. (the “Board”) on September 17, 2014 and the Securities Offering Transaction Committee of the Board on October 1, 2014, hereby establish a series of debt securities by means of this Officers’ Certificate in
accordance with the Indenture, dated as of June 8, 2011 (the “Base Indenture,” and as supplemented by the First Supplemental Indenture thereto, the Second Supplemental Indenture thereto, the Third Supplemental Indenture
thereto, the Fourth Supplemental Indenture thereto, the Fifth Supplemental Indenture thereto, the Sixth Supplemental Indenture thereto and the Seventh Supplemental Indenture thereto, the “Indenture”), among the Company, Prologis,
Inc., as parent guarantor, and U.S. Bank National Association, as trustee (the “Trustee”). Capitalized terms used but not defined in this Officers’ Certificate shall have the meanings ascribed to them in the Indenture. 

1.375% Notes due 2020 
 1. The series shall be entitled
the “1.375% Notes due 2020” (the “Notes”) and shall be a series of Euro Notes as defined in the Seventh Supplemental Indenture. 

2. The Notes initially shall be limited to an aggregate principal amount of €600,000,000 (except in each case for Notes authenticated and delivered upon
registration of transfer of, or in exchange for, or in lieu of, other Notes of or within the Series pursuant to Section 304, 305, 306, 906, 1107 or 1305 of the Base Indenture); provided, the Company may increase such aggregate principal amount
upon the action of the Board to do so from time to time. 
 3. The Notes shall bear interest at the rate of 1.375% per annum. The aggregate principal
amount of the Notes is payable at maturity on October 7, 2020. The interest on this Series shall accrue from October 7, 2014 or from the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided
for. Interest on the Notes shall be payable annually in arrears on October 7 of each year (each an “Interest Payment Date”), commencing on October 7, 2015, to persons in whose names the Notes are registered on the
September 22 preceding the Interest Payment Date, whether or not a Business Day (each a “Regular Record Date”). Interest on the Notes shall be computed on the basis of an ACTUAL/ACTUAL (ICMA) (as defined in the rulebook of the
International Capital Markets Association) day count convention. 
 4. The Notes may be surrendered for registration of transfer or exchange and notices or
demands to or upon the Company in respect of the Notes and the Indenture may be served at the Corporate Trust Office of the Paying Agent located at 125 Old Broad Street, London EC2N 1AR, United Kingdom. The principal of the Notes payable at maturity
or upon earlier redemption shall be paid against presentation and surrender of the Notes at the Corporate Trust Office of the Paying Agent. 

 5. The Notes may be redeemed in whole at any time or in part from time to time, at the option of the Company,
upon notice of not more than 60 nor less than 30 days prior to the Redemption Date, at a redemption price (the “Make-Whole Amount”) equal to the greater of 
  

	 	(1)	100% of the principal amount of the Notes to be redeemed; or 

  

	 	(2)	the sum of the present values of the remaining scheduled payments of principal and interest on the Notes to be redeemed (exclusive of interest accrued to the Redemption Date) discounted to the Redemption Date on annual
basis (ACTUAL/ACTUAL (ICMA))) at the then applicable Comparable Government Bond Rate plus 20 basis points. 

 In each case the
Company will pay accrued and unpaid interest on the principal amount being redeemed to the Redemption Date. 
 The following definitions
apply with respect to the Make-Whole Amount: 
 “Business Day” means any day, other than a Saturday or Sunday,
(1) which is not a day on which banking institutions in The City of New York or London are authorized or required by law, regulation or executive order to close and (2) on which the Trans-European Automated Real-Time Gross Settlement
Express Transfer system (the TARGET2 system), or any successor thereto, is open. 
 “Comparable Government Bond” means, in
relation to any Comparable Government Bond Rate calculation, at the discretion of an Independent Investment Banker, a German government bond whose maturity is closest to the maturity of the Notes to be redeemed, or if the Independent Investment
Banker in its discretion determines that such similar bond is not in issue, such other German government bond as such Independent Investment Banker may, with the advice of the Reference Bond Dealers, determine to be appropriate for determining the
Comparable Government Bond Rate. 
 “Comparable Government Bond Rate” means the price, expressed as a percentage (rounded
to three decimal places, with 0.0005 being rounded upwards), at which the gross redemption yield on the Notes to be redeemed, if they were to be purchased at such price on the third Business Day prior to the date fixed for redemption, would be equal
to the gross redemption yield on such Business Day of the Comparable Government Bond on the basis of the middle market price of the Comparable Government Bond prevailing at 11:00 a.m. (London time) on such Business Day as determined by an
Independent Investment Banker. 
 “euro” or “€” means the single currency introduced at the third
stage of the European Monetary Union pursuant to the Treaty establishing the European Community, as amended. 
 “Independent
Investment Banker” means one of the Reference Bond Dealers that the Company appoints to act as the Independent Investment Banker from time to time. 

“Reference Bond Dealer” means each of Goldman, Sachs & Co., J.P. Morgan Securities plc, Merrill Lynch International,
Morgan Stanley & Co. International plc and The 

  
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Royal Bank of Scotland plc and their successors, and one other firm that is a broker of, and/or market maker in German government bonds (each a “Primary Bond Dealer”) which the Company
specifies from time to time; provided, however, that if any of them ceases to be a Primary Bond Dealer, the Company shall substitute another Primary Bond Dealer. 

Notwithstanding the foregoing, if the Notes are redeemed on or after July 7, 2020, the redemption price will be 100% of the principal
amount of the Notes to be redeemed. 
 In addition, if, as a result of any change in, or amendment to, the laws (or any regulations or
rulings promulgated under the laws) of the United States (or any taxing authority thereof or therein), or any change in, or amendments to, an official position regarding the application or interpretation of such laws, regulations or rulings, which
change or amendment is announced or becomes effective on or after October 1, 2014, the Company becomes or, based upon a written opinion of independent counsel selected by the Company, will become obligated to pay Additional Amounts with respect
to the Notes, then the Notes may be redeemed at the option of the Company, in whole, but not in part, having given not less than 30 days nor more than 60 days prior notice to the Holders of the Notes, at a redemption price (the “Tax
Redemption Price”) equal to 100% of the principal amount of the Notes being redeemed, together with accrued and unpaid interest thereon, to, but not including, the Redemption Date, all in accordance with the provisions of Article Eleven of
the Base Indenture. 
 If notice of redemption has been given as provided in the Base Indenture and funds for the redemption of any Notes
called for redemption shall have been made available on the Redemption Date referred to in such notice, such Notes shall cease to bear interest on the Redemption Date and the only right of the Holders of the Notes from and after the Redemption Date
shall be to receive payment of the Redemption Price upon surrender of such Notes in accordance with such notice. 
 6. All payments in respect of the Notes
shall be made by or on behalf of the Company without withholding or deduction for, or on account of, any present or future taxes, duties, assessments or governmental charges of whatever nature, imposed or levied by the United States or any taxing
authority thereof or therein, unless such withholding or deduction is required by law. If such withholding or deduction is required by law, the Company shall pay to a holder who is not a United States person such additional amounts (the
“Additional Amounts”) on the Notes as are necessary in order that the net payment by the Company or a paying agent of the principal of, and premium or Redemption Price, if any, and interest on, the Notes to such holder, after such
withholding or deduction, shall not be less than the amount provided in the Notes to be then due and payable; provided, however, that the foregoing obligation to pay Additional Amounts shall not apply: 

(i) to any tax, assessment or other governmental charge that would not have been imposed but for the holder, or a fiduciary, settlor,
beneficiary, member or shareholder of the holder if the holder is an estate, trust, partnership or corporation, or a person holding a power over an estate or trust administered by a fiduciary holder, being considered as: 

(a) being or having been engaged in a trade or business in the United States or having or having had a permanent establishment
in the United States or having or having had a qualified business unit which has the U.S. Dollar as its functional currency; 

  
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 (b) having a current or former connection with the United States (other than a
connection arising solely as a result of the ownership of the Notes, the receipt of any payment or the enforcement of any rights thereunder) or being considered as having such relationship, including being or having been a citizen or resident of the
United States; 
 (c) being or having been a personal holding company, a passive foreign investment company or a controlled
foreign corporation with respect to the United States; 
 (d) being or having been an owner of a 10% or greater interest in
the capital or profits of the Company within the meaning of Section 871(h)(3) of the United States Internal Revenue Code of 1986, as amended (the “Code”), or any successor provision; or 

(e) being a bank receiving payments on an extension of credit made pursuant to a loan agreement entered into in the ordinary
course of its trade or business; 
 (ii) to any Holder that is not the sole beneficial owner of the Notes, or a portion of the Notes, or
that is a fiduciary, partnership or limited liability company, but only to the extent that a beneficiary or settlor with respect to the fiduciary, a beneficial owner or member of the partnership or limited liability company would not have been
entitled to the payment of an Additional Amount had the beneficiary, settlor, beneficial owner or member received directly its beneficial or distributive share of the payment; 

(iii) to any tax, assessment or other governmental charge that would not have been imposed but for the failure of the Holder or any other
person to comply with certification, identification or information reporting requirements concerning the nationality, residence, identity or connection with the United States of the Holder or beneficial owner of the Notes, if compliance is required
by statute, by regulation of the United States or any taxing authority therein or by an applicable income tax treaty to which the United States is a party as a precondition to exemption from such tax, assessment or other governmental charge; 

(iv) to any tax, assessment or other governmental charge that is imposed otherwise than by withholding by the Company or a paying agent from
the payment; 
 (v) to any tax, assessment or other governmental charge that would not have been imposed but for a change in law,
regulation, or administrative or judicial interpretation that becomes effective more than 15 days after the payment becomes due or is duly provided for, whichever occurs later; 

(vi) to any estate, inheritance, gift, sales, excise, transfer, wealth, capital gains or personal property tax or similar tax, assessment or
other governmental charge; 

  
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 (vii) to any withholding or deduction that is imposed on a payment to an individual and that is
required to be made pursuant to any law implementing or complying with, or introduced in order to conform to, any European Union Directive on the taxation of savings; 

(viii) to any tax, assessment or other governmental charge required to be withheld by any paying agent from any payment of principal of or
interest on any Note, if such payment can be made without such withholding by at least one other paying agent; 
 (ix) to any tax,
assessment or other governmental charge that would not have been imposed but for the presentation by the Holder of any Note, where presentation is required, for payment on a date more than 30 days after the date on which payment became due and
payable or the date on which payment thereof is duly provided for, whichever occurs later; 
 (x) to any withholding or deduction that is
imposed on a payment pursuant to Sections 1471 through 1474 of the Code and related Treasury regulations and pronouncements (the Foreign Account Tax Compliance Act (“FATCA”)) or any successor provisions and any regulations or
official law, agreement or interpretations thereof implementing an intergovernmental approach thereto; or 
 (xi) in the case of any
combination of items (i), (ii), (iii), (iv), (v), (vi), (vii), (viii), (ix) and (x). 
 The Notes are subject in all cases to any
tax, fiscal or other law or regulation or administrative or judicial interpretation applicable to the Notes. Except as specifically provided under this Paragraph 6, the Company shall not be required to make any payment for any tax, duty, assessment
or governmental charge of whatever nature imposed by any government or a political subdivision or taxing authority of or in any government or political subdivision. 

7. The Notes shall not provide for any sinking fund or analogous provision. None of the Notes shall be redeemable at the option of the Holder. 

8. The Notes shall be issuable in registered form in the form set out in Exhibit A of the Seventh Supplemental Indenture without coupons in denominations of
€100,000 and any integral multiple of €1,000 in excess thereof. 
 9. The principal amount of, and the Make-Whole Amount or Tax Redemption Price,
if any, on, the Notes shall be payable upon declaration of acceleration pursuant to Section 502 of the Base Indenture. 
 10. The Notes shall be
denominated in and principal of or interest on the Notes (or Make-Whole Amount, Redemption Price or Tax Redemption Price, if applicable) shall be payable in euros. If the euro is unavailable to the Company due to the imposition of exchange controls
or other circumstances beyond the Company’s control or the euro is no longer used by the member states of the European Monetary Union that have adopted the euro as their currency or for the settlement of transactions by public institutions
within the international banking community, then all payments in respect of the Notes shall be made in U.S. Dollars until the euro is again available to the Company or so used. The amount payable on any date in euros shall be converted to U.S.
Dollars on the basis of the Market Exchange Rate on the second Business Day 

  
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before the date that payment is due, or if such Market Exchange Rate is not then available, on the basis of the most recently available Market Exchange Rate on or before the date that payment is
due. Any payment in respect of the Notes so made in U.S. Dollars shall not constitute an Event of Default under the Indenture. Neither the Trustee nor the European Paying Agent shall be responsible for obtaining exchange rates, effecting conversions
or otherwise handling redenominations. 
 “Market Exchange Rate” means the noon buying rate in The City of New York for
cable transfers of euros as certified for customs purposes (or, if not so certified, as otherwise determined) by the Federal Reserve Bank of New York. 

11. Except as provided in paragraph 5 of this Officers’ Certificate the amount of payments of principal of or interest on the Notes (or Make-Whole
Amount, Redemption Price or Tax Redemption Price, if applicable) shall not be determined with reference to an index or formula. 
 12. Except as set forth
herein, in the Indenture or in the Notes, none of the principal of or interest on the Notes (or Make-Whole Amount, Redemption Price or Tax Redemption Price, if applicable) will be payable at the election of the Company or a Holder thereof in a
currency or currencies, currency unit or units or composite currency or currencies other than that in which the Notes are denominated or stated to be payable. 

13. Except as set forth in the Indenture or the Trust Indenture Act of 1939, the Notes shall not contain any provisions granting special rights to the Holders
of Notes upon the occurrence of specified events. 
 14. The Notes shall not contain any deletions from, modifications of or additions to the Events of
Default or covenants of the Company contained in the Indenture. 
 15. Except as set forth herein, in the Indenture or in the Notes, the Notes shall not be
issued in the form of bearer Securities or temporary global Securities. 
 16. Sections 1402 and 1403 of the Base Indenture shall be applicable to the
Notes. 
 17. The Notes will not be issued upon the exercise of debt warrants. 

18. Article Sixteen of the Base Indenture shall be applicable to the Notes. 

19. If any Interest Payment Date, maturity date or earlier Redemption Date applicable to the Notes of any series falls on a day that is not an Euro Business
Day, the required payment shall be made on the next Euro Business Day as if it were made on the date the payment was due and no interest shall accrue on the amount so payable for the period from and after that Interest Payment Date, that maturity
date or that Redemption Date, as the case may be, until the next Euro Business Day. “Euro Business Day” means any day, other than a Saturday or Sunday, (1) which is not a day on which banking institutions in The City of New York or
London are authorized or required by law, regulation or executive order to close and (2) on which the Trans-European Automated Real-Time Gross Settlement Express Transfer system (the TARGET2 system), or any successor thereto, is open. 

  
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 20. The other terms and conditions of the Notes shall be substantially as set forth in the Indenture, in the
Prospectus dated April 16, 2014 and the Prospectus Supplement dated October 1, 2014 relating to the Notes. 
 [The remainder of
this page intentionally left blank.] 

  
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 IN WITNESS WHEREOF, the undersigned have executed this Officers’ Certificate on the date
first written above. 
  

			
	 By:
	 	  

		 	Name: Tim Arndt
		 	Title:   Senior Vice President, Treasurer

  

			
	 By:
	 	  

		 	Name: Edward S. Nekritz
		 	Title:   General Counsel and Secretary

 Officers’ Certificate – 1.375% Notes due 2020EX-4.2

 Exhibit 4.2 

UNLESS THIS SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF EUROCLEAR BANK, S.A./N.V., AS OPERATOR OF THE EUROCLEAR SYSTEM
(“EUROCLEAR”), AND CLEARSTREAM BANKING, SOCIÉTÉ ANONYME (“CLEARSTREAM” AND, TOGETHER WITH EUROCLEAR, “EUROCLEAR/CLEARSTREAM”), TO PROLOGIS, L.P. (THE “COMPANY”) OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF USB NOMINEES (UK) LIMITED OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF ELAVON FINANCIAL SERVICES LIMITED, AS COMMON DEPOSITARY (THE
“COMMON DEPOSITARY”) FOR EUROCLEAR/CLEARSTREAM (AND ANY PAYMENT IS MADE TO USB NOMINEES (UK) LIMITED OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE COMMON DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE
HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, USB NOMINEES (UK) LIMITED, HAS AN INTEREST HEREIN. 

THIS SECURITY IS A GLOBAL SECURITY AND IS REGISTERED IN THE NAME OF USB NOMINEES (UK) LIMITED, AS NOMINEE OF THE COMMON DEPOSITARY. UNLESS AND UNTIL THIS
SECURITY IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE, CERTIFICATED FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE COMMON DEPOSITARY TO A NOMINEE THEREOF OR BY A NOMINEE THEREOF TO THE COMMON DEPOSITARY OR
ANOTHER NOMINEE OF THE COMMON DEPOSITARY OR BY THE COMMON DEPOSITARY OR A NOMINEE OF THE COMMON DEPOSITARY TO A SUCCESSOR COMMON DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR COMMON DEPOSITARY. 

 

			
	REGISTERED	  	PRINCIPAL AMOUNT
	No. R - 1	  	€600,000,000
	ISIN No.: XS1117452778	  	
	COMMON CODE: 111745277	  	
	CUSIP No.: 74340X BC4	  	

 PROLOGIS, L.P. 

1.375% NOTE DUE 2020 
 PROLOGIS,
L.P., a limited partnership organized and existing under the laws of the State of Delaware (hereinafter called the “Company,” which term shall include any successor under the Indenture hereinafter referred to), for value received, hereby
promises to pay to USB Nominees (UK) Limited, or registered assigns, upon presentation, the principal sum of SIX HUNDRED MILLION EUROS (€600,000,000) on October 7, 2020 and to pay interest on the outstanding principal amount thereon
at the rate of 1.375% per annum, until the entire principal hereof is paid or made available for payment. 
 Interest shall accrue from
October 7, 2014 or from the most recent Interest Payment Date to which interest has been paid or duly provided for, and be payable annually in arrears on October 7 of each year, commencing on October 7, 2015. The interest so payable,
and punctually paid or duly provided for on any Interest Payment Date shall, as provided in the Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the
Regular Record Date for such interest which shall be September 22 (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Interest on this Security shall be computed on the basis of an ACTUAL/ACTUAL
(ICMA) (as defined in the rulebook of the International Capital Markets Association) day count convention. If any Interest Payment Date, maturity date or earlier date of 

 
redemption falls on a day that is not a Business Day, the required payment shall be made on the next Business Day as if it were made on the date the payment was due and no interest shall accrue
on the amount so payable for the period from and after that Interest Payment Date, that maturity date or that date of redemption, as the case may be, until the next Business Day. For purposes of the notes, “Business Day” means any day,
other than a Saturday or Sunday, (1) which is not a day on which banking institutions in The City of New York or London are authorized or required by law, regulation or executive order to close and (2) on which the Trans-European Automated
Real-Time Gross Settlement Express Transfer system (the TARGET2 system), or any successor thereto, is open. Any such interest not so punctually paid or duly provided for shall forthwith cease to be payable to the Holder on such Regular Record Date,
and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the Trustee, notice
whereof shall be given to Holders of Securities of this series not more than 15 days and not less than 10 days prior to such Special Record Date, or may be paid at any time in any other lawful manner not inconsistent with the requirements
of any securities exchange on which the Securities may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 

Payment of the principal of, or premium or Redemption Price, if applicable, on, and interest on this Security shall be made at the office or
agency maintained for such purpose in London, initially the corporate trust office of the Paying Agent, located at 125 Old Broad Street, London EC2N 1AR, United Kingdom, in euros. 

Payments of principal of, premium or Redemption Price, if any, and interest in respect of this Security shall be made by wire transfer of
immediately available funds in euros. If the euro is unavailable to the Company due to the imposition of exchange controls or other circumstances beyond the Company’s control or the euro is no longer used by the member states of the European
Monetary Union that have adopted the euro as their currency or for the settlement of transactions by public institutions within the international banking community, then all payments in respect of the Securities shall be made in U.S. Dollars until
the euro is again available to the Company or so used. The amount payable on any date in euros shall be converted to U.S. Dollars on the basis of the Market Exchange Rate (as defined below) on the second Business Day before that payment is due, or
if such Market Exchange Rate is not then available, on the basis of the most recently available Market Exchange Rate on or before the date that payment is due. Any payment in respect of the Securities so made in U.S. Dollars shall not constitute an
event of default under the Indenture (as defined below). Neither the Trustee nor the Paying Agent (as defined below) shall be responsible for obtaining exchange rates, effecting conversions or otherwise handling redenominations. “Market
Exchange Rate” means the noon buying rate in The City of New York for cable transfers of euros as certified for customs purposes (or, if not so certified, as otherwise determined) by the Federal Reserve Bank of New York. 

Each Security of this series is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued
and to be issued in one or more series under an Indenture, dated as of June 8, 2011 (herein called the “Base Indenture”), among the Company, Prologis, Inc. (herein called the “Parent Guarantor,” which term includes any
successor under the Indenture) and U.S. Bank National Association, as trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture with respect to the series of which this

 
Security is a part), as amended by the first supplemental indenture, dated as of June 8, 2011, the second supplemental indenture, dated as of June 8, 2011, the third supplemental
indenture, dated as of June 8, 2011, the fourth supplemental indenture, dated as of June 8, 2011, the fifth supplemental indenture, dated as of August 15, 2013, and the sixth supplemental indenture, dated as of December 3, 2013,
and as further amended by the seventh supplemental indenture, dated as of February 20, 2014 (together with the Base Indenture, the “Indenture”), among the Company, the Parent Guarantor, the Trustee, Elavon Financial Services Limited,
as security registrar, and Elavon Financial Services Limited, UK Branch, as paying agent (hereinafter called the “Paying Agent,” which term includes any successor paying agent under the Indenture with respect to the series of which this
Security is a part) and transfer agent, to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Parent
Guarantor, the Trustee, the Paying Agent and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. 

Securities of this series may be redeemed in whole at any time or in part from time to time at the option of the Company at a Redemption Price
equal to the greater of 
  

	 	(1)	100% of the principal amount of the Securities to be redeemed; or 

  

	 	(2)	the sum of the present values of the remaining scheduled payments of principal and interest on the Securities to be redeemed (exclusive of interest accrued to the date of redemption) discounted to the date of redemption
on an annual basis (ACTUAL/ACTUAL (ICMA)) at the applicable Comparable Government Bond Rate plus 20 basis points. 

Notwithstanding the foregoing, if the Securities are redeemed on or after July 7, 2020 the Redemption Price shall be 100% of the
principal amount of the Securities to be redeemed. 
 In each case the Company shall pay accrued and unpaid interest on the principal amount
being redeemed to the date of redemption. 
 The following definitions apply with respect to the foregoing redemption provisions: 

“Comparable Government Bond” means, in relation to any Comparable Government Bond Rate calculation, at the discretion of an
Independent Investment Banker, a German government bond whose maturity is closest to the maturity of the notes to be redeemed, or if the Independent Investment Banker in its discretion determines that such similar bond is not in issue, such other
German government bond as such Independent Investment Banker may, with the advice of the Reference Bond Dealers, determine to be appropriate for determining the Comparable Government Bond Rate. 

“Comparable Government Bond Rate” means the price, expressed as a percentage (rounded to three decimal places, with 0.0005 being
rounded upwards), at which the gross redemption yield on the notes to be redeemed, if they were to be purchased at such price on the third Business Day prior to the date fixed for redemption, would be equal to the gross redemption yield on such
Business Day of the Comparable Government Bond on the basis of the middle market price of the Comparable Government Bond prevailing at 11:00 a.m. (London time) on such Business Day as determined by an Independent Investment Banker. 

 “Independent Investment Banker” means one of the Reference Bond Dealers that the
Company appoints to act as the Independent Investment Banker from time to time. 
 “Reference Bond Dealer” means each of Goldman,
Sachs & Co., J.P. Morgan Securities plc, Merrill Lynch International, Morgan Stanley & Co. International plc and The Royal Bank of Scotland plc and their successors, and one other firm that is a broker of, and/or market maker in
German government bonds (each a “Primary Bond Dealer”) which the Company specifies from time to time; provided, however, that if any of them ceases to be a Primary Bond Dealer, the Company shall substitute another Primary Bond Dealer. 

The Securities are subject in all cases to any tax, fiscal or other law or regulation or administrative or judicial interpretation applicable
to the Securities. Except as specifically provided for herein, the Company shall not be required to make any payment for any tax, duty, assessment or governmental charge of whatever nature imposed by any government or a political subdivision or
taxing authority of or in any government or political subdivision. 
 If, as a result of any change in, or amendment to, the laws (or any
regulations or rulings promulgated under the laws) of the United States (or any taxing authority thereof or therein), or any change in, or amendments to, an official position regarding the application or interpretation of such laws, regulations or
rulings, which change or amendment is announced or becomes effective on or after October 1, 2014, the Company becomes or, based upon a written opinion of independent counsel selected by the Company, will become obligated to pay Additional
Amounts (as defined below) with respect to the Securities, then the Securities may be redeemed at the option of the Company, in whole, but not in part, at a redemption price equal to 100% of the principal amount of the Securities, together with
accrued and unpaid interest on the Securities to, but not including, the Redemption Date. Notice of any redemption shall be transmitted to Holders not more than 60 nor less than 30 days prior to the date fixed for redemption. 

All payments in respect of the Securities shall be made by or on behalf of the Company without withholding or deduction for, or on account of,
any present or future taxes, duties, assessments or governmental charges of whatever nature, imposed or levied by the United States or any taxing authority thereof or therein, unless such withholding or deduction is required by law. If such
withholding or deduction is required by law, the Company shall, subject to certain exceptions provided for in the Indenture, pay to a Holder who is not a United States person (as defined in the Indenture) such additional amounts (the
“Additional Amounts”) on the Securities as are necessary in order that the net payment by the Company or a paying agent of the principal of, and premium or Redemption Price, if any, and interest on, the Securities to such Holder, after
such withholding or deduction, shall not be less than the amount provided in the Securities to be then due and payable. 
 The Indenture
contains provisions for defeasance at any time of (a) the entire indebtedness of the Company on this Security and (b) certain restrictive covenants and the related defaults and Events of Default applicable to the Company, in each case,
upon compliance by the Company with certain conditions set forth in the Indenture, which provisions apply to this Security. 

 If an Event of Default with respect to Securities of this series shall occur and be continuing,
the principal of, and premium or Redemption Price, if any, on, all of the Securities of this series at the time Outstanding may be declared due and payable in the manner and with the effect provided in the Indenture. 

As provided in and subject to the provisions of the Indenture, unless the principal of all of the Securities of this series at the time
Outstanding shall already have become due and payable, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder,
unless such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the
time Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity and the Trustee shall not have received from the Holders of a
majority in principal amount of Securities of this series at the time Outstanding a direction inconsistent with such request, and the Trustee shall have failed to institute any such proceeding for 60 days after receipt of such notice, request
and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any interest on or after the respective due dates expressed herein. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company, the Parent Guarantor and the Trustee with the consent of the Holders of not less than a majority in
principal amount of the Outstanding Securities of each series of Securities then Outstanding affected thereby. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each
series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and their consequences. Any such
consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in exchange herefor or in lieu
hereof, whether or not notation of such consent or waiver is made upon this Security. 
 No reference herein to the Indenture and no
provision of this Security or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, premium or Redemption Price, if applicable, on, and interest on this Security at the
times, place and rate, and in the coin or currency, herein prescribed. 
 As provided in the Indenture and subject to certain limitations
therein set forth, the transfer of this Security is registrable in the Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any Place of Payment where the principal of, premium or
Redemption Price, if applicable, on, and interest on this Security are payable duly endorsed by, or accompanied by a written instrument of transfer in form 

 
satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this series, of
authorized denominations and for the same aggregate principal amount, shall be issued to the designated transferee or transferees. 
 The
Securities of this series are issuable only in registered form without coupons in minimum denominations of €100,000 and any integral multiple of €1,000 in excess thereof. As provided in the Indenture and subject to certain limitations
therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series of a different authorized denomination, as requested by the Holder surrendering the same. 

No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this Security for registration of
transfer, the Company, the Trustee, the Paying Agent and any agent of the Company, the Trustee or the Paying Agent may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Security be
overdue, and neither the Company, the Trustee, the Paying Agent nor any such agent shall be affected by notice to the contrary. 
 Except as
provided in Article Sixteen of the Indenture, no recourse under or upon any obligation, covenant or agreement contained in the Indenture or in this Security, or because of any indebtedness evidenced thereby, shall be had against any promoter,
as such, or against any past, present or future stockholder, partner, director, officer, employee, agent thereof or trustee, as such, of the Company or any Guarantor or of any successor thereof, either directly or through the Company or any
Guarantor or any successor thereof, under any rule of law, statute or constitutional provision or by the enforcement of any assessment or by any legal or equitable proceeding or otherwise, all such liability being expressly waived and released by
the acceptance of this Security by the Holder thereof and as part of the consideration for the issue of the Securities of this series. 

THE INDENTURE AND THE SECURITIES, INCLUDING THIS SECURITY, SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF
NEW YORK. 
 Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has
caused “CUSIP” numbers to be printed on the Securities of this series as a convenience to the Holders of such Securities. No representation is made as to the correctness or accuracy of such CUSIP numbers as printed on the Securities of
this series, and reliance may be placed only on the other identification numbers printed hereon. 
 Capitalized terms used in this Security
which are not defined herein shall have the meanings assigned to them in the Indenture. 
 [This space intentionally left blank.] 

 Unless the certificate of authentication hereon has been executed by or on behalf of the Trustee
by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
 IN
WITNESS WHEREOF, the Company has caused this instrument to be duly executed by the undersigned officer. 
  

					
	 PROLOGIS, L.P.
 By: Prologis, Inc.,
its sole general partner

		
	By:	 	  

		 	Name:	 	Tim Arndt
		 	Title:	 	Senior Vice President, Treasurer

 Attest 
  

					
	By:	 	  

		 	Name:	 	Deborah K. Briones
		 	 Title:  
	 	SeniorVice President, Associate General Counsel

 Dated: October 7, 2014 

[Global Note] 

 TRUSTEE’S CERTIFICATE OF AUTHENTICATION: 

This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 

U.S. BANK NATIONAL ASSOCIATION, 
 as trustee 

 

			
	 By:
	 	  

		 	Authorized Officer

 [Global Note] 

 ASSIGNMENT FORM 

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto 

PLEASE INSERT SOCIAL 
 SECURITY OR OTHER IDENTIFYING 

NUMBER OF ASSIGNEE 
  

 
 (Please Print or Typewrite Name and
Address including 
 Zip Code of Assignee) 
 the
within-mentioned Security of Prologis, L.P. and                     hereby does irrevocably constitute and appoint Attorney to
transfer said Security on the books of the within-named Company with full power of substitution in the premises. 

Dated:                     

NOTICE: The signature to this assignment must correspond with the name as it appears on the first page of the within-mentioned Security in every particular,
without alteration or enlargement or any change whatever. 

 GUARANTEE 

FOR VALUE RECEIVED, the undersigned hereby, jointly and severally with any other Guarantors, unconditionally guarantees to the Holder of the
accompanying 1.375% Note due 2020 (the “Euro Note”) issued by Prologis, L.P. (the “Company”) under an Indenture, dated as of June 8, 2011 (together with the First Supplemental Indenture thereto, the Second Supplemental
Indenture thereto, the Third Supplemental Indenture thereto, the Fourth Supplemental Indenture thereto, the Fifth Supplemental Indenture thereto, the Sixth Supplemental Indenture thereto and the Seventh Supplemental Indenture thereto, the
“Indenture”) among the Company, Prologis, Inc., as parent guarantor, U.S. Bank National Association, as trustee thereunder (the “Trustee”), and Elavon Financial Services Limited, UK Branch, as paying agent, (a) the full and
prompt payment of the principal of and premium or Redemption Price, if any, on such Euro Note when and as the same shall become due and payable, whether at Stated Maturity, by acceleration, by redemption or otherwise, and (b) the full and
prompt payment of the interest on such Euro Note when and as the same shall become due and payable, according to the terms of such Euro Note and of the Indenture. In case of the failure of the Company punctually to pay any such principal, premium or
interest, the undersigned hereby agrees to cause any such payment to be made punctually when and as the same shall become due and payable, whether at Stated Maturity, upon acceleration, by redemption or otherwise, and as if such payment were made by
the Company. The undersigned hereby agrees, jointly and severally with any other Guarantors, that its obligations hereunder shall be as principal and not merely as surety, and shall be absolute and unconditional, and shall not be affected, modified
or impaired by the following: (a) the failure to give notice to the Guarantors of the occurrence of an Event of Default under the Indenture; (b) the waiver, surrender, compromise, settlement, release or termination of the payment,
performance or observance by the Company or the Guarantors of any or all of the obligations, covenants or agreements of either of them contained in the Indenture or the Euro Note; (c) the acceleration, extension or any other changes in the time
for payment of any principal of or interest or any premium on the Euro Note or for any other payment under the Indenture or of the time for performance of any other obligations, covenants or agreements under or arising out of the Indenture or the
Euro Note; (d) the modification or amendment (whether material or otherwise) of any obligation, covenant or agreement set forth in the Indenture or the Euro Note; (e) the taking or the omission of any of the actions referred to in the
Indenture and in any of the actions under the Euro Note; (f) any failure, omission, delay or lack on the part of the Trustee to enforce, assert or exercise any right, power or remedy conferred on the Trustee in the Indenture, or any other
action or acts on the part of the Trustee or any of the Holders from time to time of the Euro Note; (g) the voluntary or involuntary liquidation, dissolution, sale or other disposition of all or substantially all the assets, marshaling of
assets and liabilities, receivership, insolvency, bankruptcy, assignment for the benefit of creditors, reorganization, arrangement, composition with creditors or readjustment of, or other similar proceedings affecting the Guarantors or the Company
or any of the assets of any of them, or any allegation or contest of the validity of this Guarantee in any such proceeding; (h) to the extent permitted by law, the release or discharge by operation of law of the Guarantors from the performance
or observance of any obligation, covenant or agreement contained in the Indenture; (i) to the extent permitted by law, the release or discharge by operation of law of the Company from the performance or observance of any obligation, covenant or
agreement contained in the Indenture; (j) the default or failure of the Company or the Trustee fully to perform any of its obligations set forth in the Indenture or the Euro Note; (k) the invalidity, irregularity or unenforceability of the
Indenture or the Euro Note or 

 
any part of any thereof; (l) any judicial or governmental action affecting the Company or the Euro Note or consent or indulgence granted to the Company by the Holders or by the Trustee; or
(m) the recovery of any judgment against the Company or any action to enforce the same or any other circumstance which might constitute a legal or equitable discharge of a surety or guarantor. The undersigned hereby waives diligence,
presentment, demand of payment, filing of claims with a court in the event of merger, sale, lease or conveyance of all or substantially all of its assets, insolvency or bankruptcy of the Company, any right to require a proceeding first against the
Company, protest or notice with respect to such Notice or the indebtedness evidenced thereby and all demands whatsoever, and covenants that this Guarantee shall not be discharged except by complete performance of the obligations contained in such
Euro Note and in this Guarantee. 
 No reference herein to such Indenture and no provision of this Guarantee or of such Indenture shall
alter or impair the guarantee of the undersigned, which is absolute and unconditional, of the full and prompt payment of the principal of and premium, if any, and interest on the Euro Note. 

THIS GUARANTEE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK. 

This Guarantee shall not be valid or obligatory for any purpose until the certificate of authentication on the Euro Note shall have been
executed by the Trustee under the Indenture referred to above by the manual signature of one of its authorized officers. The validity and enforceability of this Guarantee shall not be affected by the fact that it is not affixed to the Euro Note.

 An Event of Default under the Indenture or the Euro Note shall constitute an event of default under this Guarantee, and shall entitle the
Holders of the Euro Note to accelerate the obligations of the undersigned hereunder in the same manner and to the same extent as the obligations of the Company. 

Notwithstanding any other provision of this Guarantee to the contrary, the undersigned hereby waives any claims or other rights which it may
now have or hereafter acquire against the Company that arise from the existence or performance of its obligations under this Guarantee (all such claims and rights are referred to as “Guarantor’s Conditional Rights”), including,
without limitation, any right of subrogation, reimbursement, exoneration, contribution, or indemnification, any right to participate in any claim or remedy against the Company, whether or not such claim, remedy or right arises in equity or under
contract, statute or common law, by any payment made hereunder or otherwise, including without limitation, the right to take or receive from the Company, directly or indirectly, in cash or other property or by setoff or in any other manner, payment
or security on account of such claim or other rights. Guarantor hereby agrees not to exercise any rights which may be acquired by way of contribution under this Guarantee or any other agreement, by any payment made hereunder or otherwise, including,
without limitation, the right to take or receive from any other Guarantor, directly or indirectly, in cash or other property or by setoff or in any other manner, payment or security on account of such contribution rights. If, notwithstanding the
foregoing provisions, any amount shall be paid to the undersigned on account of the Guarantor’s Conditional Rights and either (i) such amount is paid 

 
to such undersigned party at any time when the indebtedness shall not have been paid or performed in full, or (ii) regardless of when such amount is paid to such undersigned party, any
payment made by the Company to a Holder that is at any time determined to be a Preferential Payment (as defined below), then such amount paid to the undersigned shall be held in trust for the benefit of Holder and shall forthwith be paid to such
Holder to be credited and applied upon the indebtedness, whether matured or unmatured. Any such payment is herein referred to as a “Preferential Payment” to the extent the Company makes any payment to Holder in connection with the Euro
Note, and any or all of such payment is subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid or paid over to a trustee, receiver or any other entity, whether under any bankruptcy act or otherwise.

 To the extent that any of the provisions of the immediately preceding paragraph shall not be enforceable, the undersigned agrees that
until such time as the indebtedness has been paid and performed in full and the period of time has expired during which any payment made by the Company or the undersigned to a Holder may be determined to be a Preferential Payment, Guarantor’s
Conditional Rights to the extent not validly waived shall be subordinate to Holders’ right to full payment and performance of the indebtedness and the undersigned shall not enforce any of Guarantor’s Conditional Rights until such time as
the indebtedness has been paid and performed in full and the period of time has expired during which any payment made by the Company or the undersigned to Holders may be determined to be a Preferential Payment. 

The obligations of the undersigned to the Holders of the Euro Note and to the Trustee pursuant to this Guarantee and the Indenture are
expressly set forth in Article Sixteen of the Indenture and reference is hereby made to the Indenture for the precise terms of this Guarantee and all of the other provisions of the Indenture to which this Guarantee relates. 

Capitalized terms used in this Guarantee which are not defined herein shall have the meanings assigned to them in the Indenture. 

[Remainder of page intentionally left blank] 

 IN WITNESS WHEREOF, the undersigned has caused this Guarantee to be duly executed. 

Dated: October 7, 2014 
  

			
	PROLOGIS, INC.
		
	By:	 	  

		 	Name: Tim Arndt
		 	Title:   Senior Vice President, Treasurer

 [Global Note]

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