Prologis to Participate in BofA Securities 2026 Global Real Estate ConferenceSeptember 10, 2026 5:00 PM
PR Newswire (US) SAN FRANCISCO, Sept. 10, 2026 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD) today announced that Timothy D. Arndt, chief financial officer, will present at the BofA Securities 2026 Global Real Estate Conference on Tuesday, September 15, at 11:05 a.m. ET.Prologis' presentation will be broadcast live via audio webcast and an audio replay will be available thereafter. The live broadcast and replay can be accessed on https://ir.prologis.com/events-presentations.About Prologis
The world runs on logistics. At Prologis, we don't just lead the industry, we define it. We create the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, our ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one – not just shaping the future of logistics but building what comes next. Learn more at Prologis.com.Forward-Looking Statements
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," and "estimates" including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where we operate, expectations regarding new lines of business, our debt, capital structure and financial position, our ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties, including those specific to data center development and the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law. View original content to download multimedia:https://www.prnewswire.com/news-releases/prologis-to-participate-in-bofa-securities-2026-global-real-estate-conference-302875759.htmlSOURCE Prologis, Inc. Original: Prologis to Participate in BofA Securities 2026 Global Real Estate Conference

Prologis to Announce Third Quarter 2026 Results October 15, 2026September 3, 2026 5:00 PM
PR Newswire (US) SAN FRANCISCO, Sept. 3, 2026 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD) will host a webcast and conference call with senior management to discuss its third quarter results, current market conditions and future outlook on Thursday, October 15, 2026, at 9:00 a.m. PT/12:00 p.m. ET.To access a live broadcast of the call, please dial +1 (877) 897-2615 (toll-free from the United States and Canada) or +1 (201) 689-8514 (from all other countries). A live webcast can be accessed from the Investor Relations section of www.prologis.com.A telephonic replay will be available October 15 - October 29 at +1 (877) 660-6853 (from the United States and Canada) or +1 (201) 612-7415 (from all other countries) using access code 13762465. The webcast replay will be posted in the Investor Relations section of www.prologis.com under "Events & Presentations."About Prologis
The world runs on logistics. At Prologis, we don't just lead the industry, we define it. We create the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, our ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one–not just shaping the future of logistics but building what comes next. Learn more at Prologis.com.Forward-Looking Statements
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," and "estimates" including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where we operate, expectations regarding new lines of business, our debt, capital structure and financial position, our ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties, including those specific to data center development and the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law.  View original content to download multimedia:https://www.prnewswire.com/news-releases/prologis-to-announce-third-quarter-2026-results-october-15-2026-302869338.htmlSOURCE Prologis, Inc. Original: Prologis to Announce Third Quarter 2026 Results October 15, 2026

Prologis Declares Quarterly DividendSeptember 2, 2026 5:00 PM
PR Newswire (US) SAN FRANCISCO, September 2, 2026 /PRNewswire/ -- The Board of Directors of Prologis, Inc. (NYSE: PLD) declared a regular cash dividend for the quarter ending September 30, 2026, on the following securities:A dividend of $1.07 per share of the company's common stock, payable on September 30, 2026, to common stockholders of record at the close of business on September 16, 2026; andA dividend of $1.0675 per share of the company's 8.54% Series Q Cumulative Redeemable Preferred Stock, payable on September 30, 2026, to Series Q stockholders of record at the close of business on September 16, 2026.ABOUT PROLOGIS
The world runs on logistics. At Prologis, we don't just lead the industry, we define it. We create the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, our ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one–not just shaping the future of logistics but building what comes next. Learn more at Prologis.com.FORWARD-LOOKING STATEMENTS
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," and "estimates" including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where we operate, expectations regarding new lines of business, our debt, capital structure and financial position, our ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties, including those specific to data center development and the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law. View original content to download multimedia:https://www.prnewswire.com/news-releases/prologis-declares-quarterly-dividend-302868158.htmlSOURCE Prologis, Inc. Original: Prologis Declares Quarterly Dividend

PROLOGIS ANNOUNCES PRICING OF COMMON STOCK OFFERINGAugust 4, 2026 9:21 AM
PR Newswire (US) SAN FRANCISCO, August 4, 2026 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD) (the "Company" or "Prologis") announced today the pricing of an underwritten public offering of 15,000,000 shares of its common stock. The aggregate gross proceeds to the Company from the offering, before deducting estimated transaction expenses, are expected to be approximately $2.1 billion. The offering is expected to close on August 5, 2026, subject to customary closing conditions.J.P. Morgan and BofA Securities are acting as the underwriters for the offering.The Company has granted the underwriters a 30-day option, exercisable in whole or in part from time to time, to purchase up to an additional 2,250,000 shares of the Company's common stock solely to cover overallotments in connection with the offering.The Company intends to contribute the net proceeds from this offering to its operating partnership, which intends to use the net proceeds from the offering for general corporate purposes, including to fund potential acquisitions such as SEGRO plc ("SEGRO"). There can be no assurance that the Company will complete the SEGRO combination on the proposed terms, on the anticipated timeline, or at all.This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale is not permitted. All of the shares of common stock are being offered pursuant to the Company's effective shelf registration statement filed with the Securities and Exchange Commission (the "SEC"). A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC. When available, a copy of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from J.P. Morgan Securities LLC, Attention: c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by emailing prospectus-eq_fi@jpmchase.com and postsalemanualrequests @shazaam-02-25, 201 North Tryon Street, Charlotte, NC  28255-0001 or by emailing dg.prospectus_requests@bofa.com; or by visiting the EDGAR database on the SEC's website at www.sec.gov.ABOUT PROLOGISThe world runs on logistics. At Prologis, we don't just lead the industry, we define it. We create the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, our ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one–not just shaping the future of logistics but building what comes next.FORWARD-LOOKING STATEMENTSThe statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," and "estimates" including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to the combination with SEGRO, rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where we operate, expectations regarding new lines of business, our debt, capital structure and financial position, our ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our and SEGRO's properties; (iv) risks associated with acquisitions, dispositions and development of properties, including those specific to data center development and the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that Prologis and SEGRO maintain and their credit ratings; (vii) risks related to Prologis' and SEGRO's investments in and management of their co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; (x) risks related to global pandemics; (xi) Prologis' and SEGRO's ability to complete the combination on the proposed terms or on the anticipated timeline, or at all, including risks and uncertainties relating to satisfying the conditions to the combination; (xii) the effect of the combination on the ability of Prologis and SEGRO to operate their respective businesses and retain and hire key personnel and to maintain favorable business relationships; (xiii) failure to realize the expected benefits or synergies of the combination; (xiv) significant transaction costs and/or unknown or inestimable liabilities; (xv) the risk of shareholder litigation in connection with the combination, including resulting expense or delay; (xvi) the risk that SEGRO's business will not be integrated successfully or that such integration may be more difficult, time-consuming or costly than expected; (xvii) risks related to future opportunities and plans for the combined company, including the uncertainty of expected future financial performance; (xviii) risks related to the market value of the Prologis common stock to be issued in the combination, including foreign currency exchange rates; (xix) other risks related to the completion of the combination and actions related thereto; and (xx) those additional factors discussed under Part I, Item 1A. Risk Factors in Prologis' Annual Report on Form 10-K for the year ended December 31, 2025 and in subsequent documents filed with the SEC by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law. View original content to download multimedia:https://www.prnewswire.com/news-releases/prologis-announces-pricing-of-common-stock-offering-302842518.htmlSOURCE Prologis, Inc. Original: PROLOGIS ANNOUNCES PRICING OF COMMON STOCK OFFERING

Prologis Strikes Deal to Acquire Segro in £14.3 Billion Logistics Property MergerAugust 4, 2026 6:14 AM
IH Market News Prologis (NYSE:PLD) has reached an agreement to acquire Segro Plc (LSE:SGRO) in a transaction worth approximately £14.3 billion, combining two of the world’s largest industrial property owners. Once completed, the enlarged business will oversee around $269 billion of logistics real estate assets, significantly increasing Prologis’ scale across Europe. Share-Based Offer Includes Optional Cash Element The agreed offer values Segro at 1,031.7 pence per share, with investors receiving 0.0920 newly issued Prologis shares for each Segro share they own. The offer represents a 14.4% premium to Segro’s most recently reported net asset value of 902 pence per share. Including the proposed 2026 final dividend of up to 22.56 pence per share, the overall value rises to 1,054.3 pence per share. As an alternative, shareholders may elect to receive part of their consideration in cash. Up to £3.5 billion has been allocated for the cash option, representing one quarter of the total transaction value. Those selecting the standard mixed consideration will receive 258 pence in cash alongside 0.0690 Prologis shares for each Segro share held. If requests exceed the available cash pool, allocations will be reduced proportionally. Prologis said the cash component will be financed through committed borrowing facilities and existing cash resources. Combination Creates a Much Larger European Platform The acquisition will substantially strengthen Prologis’ position in Europe by adding Segro’s extensive warehouse portfolio. Together, the combined group will manage approximately 368 million square feet of logistics space across the continent. The merger will also expand Prologis’ European development pipeline to around 13 million square feet while more than doubling its regional land bank, providing significant capacity for future projects. “This deal brings together SEGRO’s exceptional portfolio and customer relationships with Prologis’ global platform, operating expertise and financial strength,” Prologis Chief Executive Daniel S. Letter said. Segro Chief Executive David Sleath described the merger as “a compelling platform,” adding that it combines Segro’s assets and future development opportunities with Prologis’ “global scale, customer franchise and operational capabilities.” Market Reaction and Financial Impact According to Jefferies analyst Sarim Chaudhry, shareholders who accept the share-based offer will own roughly 8.9% of the combined business. They would also remain entitled to receive Segro’s interim dividend of up to 10.14 pence per share and its proposed final dividend for 2026. Prologis expects the transaction to have little impact on Core FFO and AFFO per share during the first full year after completion, assuming expected operating synergies are achieved. The company also expects to preserve its current A2/A investment-grade credit ratings from Moody’s and S&P. Board Recommends Transaction Segro’s Board has unanimously backed the proposal and is recommending that shareholders vote in favour of the acquisition. Prologis does not require shareholder approval for the deal but plans to obtain a secondary listing on the London Stock Exchange before completion. The transaction is expected to complete during the first half of 2027, subject to shareholder approval, court approval and the relevant regulatory clearances. Prologis stock price The post Prologis Strikes Deal to Acquire Segro in £14.3 Billion Logistics Property Merger appeared first on US Editors. Original: Prologis Strikes Deal to Acquire Segro in £14.3 Billion Logistics Property Merger

PROLOGIS ANNOUNCES COMMON STOCK OFFERINGAugust 4, 2026 6:07 AM
PR Newswire (US) SAN FRANCISCO, Aug. 4, 2026 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD) (the "Company" or "Prologis") announced today the commencement of an underwritten public offering of 15,000,000 shares of its common stock.J.P. Morgan and BofA Securities are acting as the underwriters for the offering.The Company expects to grant the underwriters a 30-day option, exercisable in whole or in part from time to time, to purchase up to an additional 2,250,000 shares of the Company's common stock solely to cover overallotments in connection with the offering.The Company intends to contribute the net proceeds from this offering to its operating partnership, which intends to use the net proceeds from the offering for general corporate purposes, including to fund potential acquisitions such as SEGRO plc ("SEGRO"). There can be no assurance that the Company will complete the SEGRO combination on the proposed terms, on the anticipated timeline, or at all.This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale is not permitted. All of the shares of common stock will be offered pursuant to the Company's effective shelf registration statement filed with the Securities and Exchange Commission (the "SEC"). A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC. When available, a copy of the preliminary prospectus supplement and accompanying prospectus relating to the offering may be obtained from J.P. Morgan Securities LLC, Attention: c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by emailing prospectus-eq_fi@jpmchase.com and postsalemanualrequests @shazaam-02-25, 201 North Tryon Street, Charlotte, NC  28255-0001 or by emailing dg.prospectus_requests@bofa.com; or by visiting the EDGAR database on the SEC's website at www.sec.gov.ABOUT PROLOGISThe world runs on logistics. At Prologis, we don't just lead the industry, we define it. We create the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, our ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one–not just shaping the future of logistics but building what comes next.FORWARD-LOOKING STATEMENTSThe statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," and "estimates" including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to the combination with SEGRO, rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where we operate, expectations regarding new lines of business, our debt, capital structure and financial position, our ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our and SEGRO's properties; (iv) risks associated with acquisitions, dispositions and development of properties, including those specific to data center development and the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that Prologis and SEGRO maintain and their credit ratings; (vii) risks related to Prologis' and SEGRO's investments in and management of their co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; (x) risks related to global pandemics; (xi) Prologis' and SEGRO's ability to complete the combination on the proposed terms or on the anticipated timeline, or at all, including risks and uncertainties relating to satisfying the conditions to the combination; (xii) the effect of the combination on the ability of Prologis and SEGRO to operate their respective businesses and retain and hire key personnel and to maintain favorable business relationships; (xiii) failure to realize the expected benefits or synergies of the combination; (xiv) significant transaction costs and/or unknown or inestimable liabilities; (xv) the risk of shareholder litigation in connection with the combination, including resulting expense or delay; (xvi) the risk that SEGRO's business will not be integrated successfully or that such integration may be more difficult, time-consuming or costly than expected; (xvii) risks related to future opportunities and plans for the combined company, including the uncertainty of expected future financial performance; (xviii) risks related to the market value of the Prologis common stock to be issued in the combination, including foreign currency exchange rates; (xix) other risks related to the completion of the combination and actions related thereto; and (xx) those additional factors discussed under Part I, Item 1A. Risk Factors in Prologis' Annual Report on Form 10-K for the year ended December 31, 2025 and in subsequent documents filed with the SEC by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law. View original content to download multimedia:https://www.prnewswire.com/news-releases/prologis-announces-common-stock-offering-302842289.htmlSOURCE Prologis, Inc. Original: PROLOGIS ANNOUNCES COMMON STOCK OFFERING

Prologis Announces Recommended Acquisition of SEGRO plcAugust 4, 2026 2:04 AM
PR Newswire (US) Combination expands Prologis' European platform and enhances long-term growth opportunitiesSAN FRANCISCO, Aug. 4, 2026 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD) today announced that it has reached agreement with the board of SEGRO plc (LSE: SGRO) on the terms of a recommended acquisition of SEGRO, valuing SEGRO's entire issued and to be issued ordinary share capital at approximately $18.8 billion.Daniel S. Letter, chief executive officer of Prologis, commented:"We are pleased to have reached agreement with the SEGRO Board on a combination that we believe will create meaningful value. This deal brings together SEGRO's exceptional portfolio and customer relationships with Prologis' global platform, operating expertise and financial strength.We have great respect for SEGRO, its people and the business they have built over many years. The constructive engagement between our leadership teams throughout this process has reinforced our confidence in the opportunity ahead.As we move forward, we will approach the work ahead thoughtfully and deliberately. We look forward to building on the strengths of both companies and creating even greater value for our customers and shareholders."Combination HighlightsThe combination will:bring together two premier portfolios in a global platform with approximately $269 billion of assets under management;strengthen the customer value proposition through a more connected global network;create a European operating portfolio of 368 million square feet, expanding Prologis' European footprint by 47%;establish a combined European development pipeline of 13 million square feet while increasing Prologis' European land bank by 126%; andexpand long-term growth opportunities across logistics, energy and digital infrastructure.Transaction TermsUnder the terms of the recommended acquisition, SEGRO shareholders will receive 0.0920 new Prologis shares for each SEGRO share. Shareholders may elect to receive cash in lieu of some or all of their Prologis share consideration, subject to the terms of the partial cash alternative. SEGRO shareholders will also be entitled to receive and retain any 2026 interim dividend of up to 10.14 pence per SEGRO share and any 2026 final dividend of up to 22.56 pence per SEGRO share, which SEGRO intends to pay prior to closing.The maximum aggregate amount of cash available under the partial cash alternative is approximately £3.5 billion. Each SEGRO shareholder's basic entitlement under the partial cash alternative is equal to 25% of the fixed price of 1,031.7 pence per SEGRO share. Accordingly, a shareholder electing to receive only its basic entitlement would receive 258 pence in cash and 0.0690 new Prologis shares for each SEGRO share.Shareholders may elect to receive less than or more than their basic entitlement. Elections to receive cash in excess of the basic entitlement will be scaled back on a pro rata basis if aggregate cash elections exceed the maximum cash available. Shareholders who do not elect to participate in the partial cash alternative will receive 0.0920 new Prologis shares for each SEGRO share.The cash consideration payable under the partial cash alternative will be funded through a committed term loan facility, together with existing liquidity and other available sources of funding.Further details are available in the Rule 2.7 announcement, which is posted on the transaction microsite accessible through Prologis' investor relations website.Expected Financial ImpactThe combination is expected to enhance Prologis' long-term earnings and return potential. In the first full year following completion, assuming annualized run-rate synergies, the combination is expected to have a broadly neutral to minimally dilutive impact on Core FFO per share and AFFO per share.Prologis expects to maintain A2/A credit ratings from Moody's and S&P.Approvals and TimingThe boards of Prologis and SEGRO have reached agreement on the terms of the transaction, and the SEGRO board unanimously intends to recommend it. The transaction is expected to close in the first half of 2027, subject to the requisite approvals of SEGRO shareholders, sanction of the scheme by the court, receipt of applicable regulatory approvals and satisfaction of customary closing conditions.The transaction does not require approval by Prologis shareholders.As part of the transaction, Prologis will apply for a secondary listing of its shares on the London Stock Exchange, with the approval of that application being a condition to completion.ABOUT PROLOGIS
The world runs on logistics. At Prologis, we don't just lead the industry, we define it. We create the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, our ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one–not just shaping the future of logistics but building what comes next. Learn more at Prologis.com.FURTHER INFORMATION
This document is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or pursuant to an exemption from registration under the Securities Act of 1933, as amended.FORWARD-LOOKING STATEMENTS
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we and SEGRO operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "will," "can" and "estimates" including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to the combination, rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where we and SEGRO operate, expectations regarding new lines of business, our and SEGRO's respective debt, capital structure and financial position, our or SEGRO's ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) Prologis' and SEGRO's ability to complete the combination on the proposed terms or on the anticipated timeline, or at all, including risks and uncertainties relating to satisfying the conditions to the combination; (ii) the effect of the combination on the ability of Prologis and SEGRO to operate their respective businesses and retain and hire key personnel and to maintain favorable business relationships; (iii) failure to realize expected benefits or synergies of the combination; (iv) significant transaction costs and/or unknown or inestimable liabilities; (v) the risk of shareholder litigation in connection with the combination, including resulting expense or delay; (vi) the risk that SEGRO's business will not be integrated successfully or that such integration may be more difficult, time-consuming or costly than expected; (vii) risks related to future opportunities and plans for the combined company, including the uncertainty of expected future financial performance and results of the combined company following the closing of the transaction; (viii) risks related to the market value of the Prologis shares to be issued as consideration in the combination, including foreign currency exchange rates; (ix) other risks related to the completion of the combination and actions related thereto; (x) international, national, regional and local economic and political climates and conditions; (xi) changes in global financial markets, interest rates and foreign currency exchange rates; (xii) increased or unanticipated competition for our properties; (xiii) risks associated with acquisitions, dispositions and development of properties, including those specific to data center development and the integration of the operations of significant real estate portfolios; (xiv) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (xv) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (xvi) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (xvii) risks of doing business internationally, including currency risks; (xviii) environmental uncertainties, including risks of natural disasters; and (xix) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law. View original content to download multimedia:https://www.prnewswire.com/news-releases/prologis-announces-recommended-acquisition-of-segro-plc-302842042.htmlSOURCE Prologis, Inc. Original: Prologis Announces Recommended Acquisition of SEGRO plc

Update Regarding Possible Combination of SEGRO and PrologisJuly 22, 2026 12:50 PM
PR Newswire (US) NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND DOES NOT CONSTITUTE A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE.SAN FRANCISCO, July 22, 2026 /PRNewswire/ -- Prologis, Inc. ("Prologis") welcomes the announcement by the Board of SEGRO plc ("SEGRO") earlier today that it has unanimously concluded that the financial terms of the Prologis Best and Final Proposal* are at a level that it would be minded to recommend to SEGRO shareholders and to extend the "Put-up" or "Shut-up" deadline to no later than 5.00 pm BST 12 August 2026, in accordance with Rule 2.6(c) of the Code.  Prologis' goal has always been a constructive process. The proposed combination represents a compelling opportunity for shareholders of both companies. Prologis welcomes the additional time afforded by the extension and is ready to work with the SEGRO Board in reaching an outcome that delivers value for all stakeholders.There can be no certainty that an offer for SEGRO will be made. A further announcement will be made as appropriate.*The Best and Final Proposal is final and will not be increased, except that Prologis reserves the right to increase and/or otherwise improve the Best and Final Proposal if: (i) there is an announcement on or after the date of this announcement of an offer or possible offer (including a partial offer involving the acquisition or consolidation of control (as defined in the Code)) for SEGRO by a third party offeror(s) or potential offeror(s) (whether identified or not), or (ii) the Takeover Panel otherwise provides its consent (which will only be provided in wholly exceptional circumstances).Linklaters LLP is retained as legal adviser to Prologis.Further information
N.M. Rothschild & Sons Limited ("Rothschild & Co"), which is authorised and regulated by the Financial Conduct Authority (the "FCA") in the United Kingdom, and J.P. Morgan Securities LLC, together with its affiliate J.P. Morgan Securities plc (which conducts its UK investment banking business as J.P. Morgan Cazenove and which is authorised in the United Kingdom by the Prudential Regulation Authority ("PRA") and regulated in the United Kingdom by the PRA and the FCA) (together "J.P. Morgan"), Eastdil Secured International Limited ("Eastdil Secured" or "ESI") which is authorised and regulated by the Financial Conduct Authority (the "FCA") in the United Kingdom, and Merrill Lynch International ("BofA Securities"), which is authorised by the PRA and regulated by the FCA and PRA in the United Kingdom, are each acting exclusively for Prologis and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Prologis for providing the protections afforded to their respective clients or for providing advice in connection with the subject matter of this announcement. This announcement is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or pursuant to an exemption from registration under the Securities Act of 1933, as amended.The release, publication or distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe such restrictions. Any failure to comply with such restrictions may constitute a violation of the securities law of any such jurisdiction.Disclosure requirements of the Code
Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.Publication on Website
In accordance with Rule 26.1 of the Code, a copy of this announcement will be available subject to certain restrictions relating to persons resident in restricted jurisdictions on Prologis' website at https://ir.prologis.com/ promptly and in any event by no later than 12 noon (London time) on 23 July 2026. The content of this website is not incorporated into and does not form part of this announcement.Forward-Looking Statements
The statements in this announcement that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which Prologis and SEGRO operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact Prologis' or SEGRO's financial results. Words such as "expects," "anticipates," "intends," "believes," "would," "could," "should" and "estimates," including variations of such words and similar expressions, are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that Prologis expects or anticipates will occur in the future – including statements relating to any possible transaction between Prologis and SEGRO , rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where Prologis and SEGRO operate, expectations regarding new lines of business, Prologis' and SEGRO's respective debt, capital structure and financial position, Prologis' ability to earn revenues from co-investment ventures or form new co-investment ventures and the availability of capital in existing or new co-investment ventures – are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although Prologis believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, Prologis can give no assurance that its expectations will be attained, and therefore actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) the ultimate outcome of any possible transaction between Prologis and SEGRO, including the possibility that SEGRO will continue to reject any proposed transaction with Prologis; (ii) uncertainties as to whether SEGRO will cooperate with Prologis regarding any proposed transaction; (iii) the effect of the announcement of any proposed transaction on the ability of Prologis and SEGRO to operate their respective businesses and retain and hire key personnel and to maintain favourable business relationships; (iv) the timing of any proposed transaction; (v) the ability to satisfy closing conditions to the completion of any proposed transaction (including shareholder approvals); (vi) other risks related to the completion of any proposed transaction and actions related thereto; (vii) international, national, regional and local economic and political climates and conditions; (viii) changes in global financial markets, interest rates and foreign currency exchange rates; (ix) increased or unanticipated competition for Prologis' or SEGRO's properties; (x) risks associated with acquisitions, dispositions and development of properties, including those specific to data center development and the integration of the operations of significant real estate portfolios; (xi) maintenance of Real Estate Investment Trust ("REIT") status, tax structuring and changes in income tax laws and rates; (xii) availability of financing and capital, the levels of debt that Prologis and SEGRO maintain and their credit ratings; (xiii) risks related to Prologis' investments in and management of its co-investment ventures, including the ability to establish new co-investment ventures; (xiv) risks of doing business internationally, including currency risks; (xv) environmental uncertainties, including risks of natural disasters; (xvi) risks related to global pandemics; and (xvii) those additional factors discussed under Part I, Item 1A. Risk Factors in Prologis' Annual Report on Form 10-K for the year ended December 31, 2025. Prologis undertakes no duty to update any forward-looking statements appearing in this announcement except as may be required by law. View original content to download multimedia:https://www.prnewswire.com/news-releases/update-regarding-possible-combination-of-segro-and-prologis-302832381.htmlSOURCE Prologis, Inc. Original: Update Regarding Possible Combination of SEGRO and Prologis

Best and Final* Proposal and Request for PUSU Deadline ExtensionJuly 22, 2026 6:04 AM
PR Newswire (US) NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND DOES NOT CONSTITUTE A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE.SAN FRANCISCO, July 22, 2026 /PRNewswire/ -- Prologis, Inc. ("Prologis") announces its Best and Final* proposal to the Board of SEGRO plc ("SEGRO") (the "Best and Final Proposal") pursuant to which Prologis would make an offer to acquire the entire issued and to be issued share capital of SEGRO (the "Combination").The Best and Final Proposal is final and will not be increased*.Prologis believes the Best and Final Proposal provides a compelling opportunity for both sets of shareholders and urges SEGRO shareholders to encourage their Board to recommend the Combination.The Best and Final Proposal consists of:0.0920 new Prologis shares for each SEGRO share, a 9.5 per cent increase over Prologis' initial proposal; anda Partial Cash Alternative of up to £3.5bn, representing 25 per cent of the total consideration, at a fixed price of 1,031.7 pence per SEGRO share, subject to pro-rata scale-back.Based on Prologis' closing share price of $149.94 and the GBP:USD exchange rate of 1.3371 on 21 July 2026, being the last practicable date prior to this announcement, and assuming a shareholder elects for 25 per cent cash, the Best and Final Proposal values each SEGRO share at 1,031.7 pence, representing:a premium of 14.0 per cent to SEGRO's pro forma adjusted NAV of 905 pence per share as of 30 June 2026;a premium of 39.0 per cent to the closing price of 742 pence per share on 23 June 2026 (being the day prior to the commencement of the offer period);a premium of 41.3 per cent to the 1-month volume weighted average share price of 730 pence as of 23 June 2026 (being the day prior to the commencement of the offer period); anda premium of 46.6 per cent to the 3-month volume weighted average share price of 704 pence as of 23 June 2026 (being the day prior to the commencement of the offer period).The Best and Final Proposal values the issued and to be issued share capital of SEGRO at approximately £14.0 billion.*The Best and Final Proposal is final and will not be increased, except that Prologis reserves the right to increase and/or otherwise improve the Best and Final Proposal if: (i) there is an announcement on or after the date of this announcement of an offer or possible offer (including a partial offer involving the acquisition or consolidation of control (as defined in the Code)) for SEGRO by a third party offeror(s) or potential offeror(s) (whether identified or not), or (ii) the Takeover Panel otherwise provides its consent (which will only be provided in wholly exceptional circumstances).Following completion of the Combination and assuming that the Partial Cash Alternative is fully taken up, existing SEGRO shareholders would hold approximately 8.9 per cent of Prologis' issued share capital.Prologis also confirms that, in connection with the Combination, it intends to explore the feasibility of a secondary listing of Prologis shares on the London Stock Exchange if there is sufficient investor demand. For any such secondary listing to be feasible, Prologis expects that SEGRO Board engagement with Prologis will be required.Dan Letter, Chief Executive Officer of Prologis, Inc., commented:
"There is no doubt a combination of both companies would deliver meaningful value. We have listened to feedback from shareholders and this morning, we have improved our proposal to make a compelling offer to the SEGRO Board. We run Prologis with discipline and this is our best and final offer."Prologis urges SEGRO shareholders to encourage the Board of SEGRO to extend the PUSU Deadline and recommend the Combination Prologis requests that SEGRO seeks from the Takeover Panel an extension to the PUSU Deadline of 5pm BST on 22 July 2026, in order to allow sufficient time to agree the other terms and conditions of a recommended firm offer to be made on the financial terms of the Best and Final Proposal.Under the terms of the Best and Final Proposal, SEGRO shareholders will be entitled to continue to receive dividends up to the amounts specified below without a reduction in the terms of the Best and Final Proposal.There can be no certainty that an offer for SEGRO will be made. A further announcement will be made as appropriate.Important Code Notes*The Best and Final Proposal is final and will not be increased, except that Prologis reserves the right to increase and/or otherwise improve the Best and Final Proposal if: (i) there is an announcement on or after the date of this announcement of an offer or possible offer (including a partial offer involving the acquisition or consolidation of control (as defined in the Code)) for SEGRO by a third party offeror(s) or potential offeror(s) (whether identified or not), or (ii) the Takeover Panel otherwise provides its consent (which will only be provided in wholly exceptional circumstances).In accordance with Rule 2.6(a) of the Code, Prologis is required, by not later than 5:00 pm (London time) on 22 July 2026 (the "PUSU Deadline"), to either announce a firm intention to make an offer for SEGRO in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for SEGRO, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may only be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.In accordance with Rule 2.5(a) of the Code, Prologis reserves the right to vary the form and/or mix of consideration as set out in this announcement and/or introduce other forms of consideration. Prologis reserves the right to make an offer for SEGRO at a lower value and/or on less favourable terms than those described in this announcement: (a) with the agreement or recommendation of the Board of SEGRO; (b) if a third party announces a possible or a firm intention to make an offer for SEGRO which, at that date, is of a value less than the value implied by the Best and Final Proposal; or (c) following the announcement by SEGRO of a Rule 9 waiver transaction pursuant to Appendix 1 of the Code or a reverse takeover (as defined in the Code). SEGRO shareholders shall be entitled to receive and retain any 2026 interim dividend up to 10.14 pence per SEGRO share (the "2026 Interim Dividend"), any 2026 final dividend up to 22.56 pence per SEGRO share (the "2026 Final Dividend"), any 2027 interim dividend up to 10.55 pence per SEGRO share (the "2027 Interim Dividend"), and any 2027 final dividend up to 23.52 pence per SEGRO share (the "2027 Final Dividend", and together with the 2026 Interim Dividend, the 2026 Final Dividend and the 2027 Interim Dividend the "Permitted Dividends"), in each case that is announced, declared, paid or made or becomes payable by SEGRO on or after the date of this announcement and on or prior to any unconditional date of any offer (if made). If after the date of this announcement SEGRO declares, makes or pays any dividend or distribution or other return of capital to its shareholders other than the Permitted Dividends, Prologis will make an equivalent reduction to the terms of the Best and Final Proposal.The Partial Cash AlternativeThe maximum aggregate amount of the partial cash alternative is £3.5 billion, representing approximately 25 per cent of the total value of the consideration based on the offer price of 1,031.7 pence per share (the "Partial Cash Alternative").SEGRO shareholders who validly elect to receive the Partial Cash Alternative for the basic entitlement (equal to 25 per cent of the fixed cash amount of a fixed 1,031.7 pence per share) would receive 257.9 pence in cash and would also receive 0.0690 new Prologis shares for each SEGRO share.SEGRO shareholders may elect to receive cash consideration less than, or in excess of, their basic entitlement. Elections to receive cash in excess of this basic entitlement may be scaled back pro rata, depending upon the overall level of take-up of the Partial Cash Alternative.The Partial Cash Alternative would not affect the entitlements of those SEGRO shareholders who do not elect for it, each of whom would receive 0.0920 new Prologis shares for each SEGRO share.Linklaters LLP is retained as legal adviser to Prologis.Further informationN.M. Rothschild & Sons Limited ("Rothschild & Co"), which is authorised and regulated by the Financial Conduct Authority (the "FCA") in the United Kingdom, and J.P. Morgan Securities LLC, together with its affiliate J.P. Morgan Securities plc (which conducts its UK investment banking business as J.P. Morgan Cazenove and which is authorised in the United Kingdom by the Prudential Regulation Authority ("PRA") and regulated in the United Kingdom by the PRA and the FCA) (together "J.P. Morgan"), Eastdil Secured International Limited ("Eastdil Secured" or "ESI") which is authorised and regulated by the Financial Conduct Authority (the "FCA") in the United Kingdom, and Merrill Lynch International ("BofA Securities"), which is authorised by the PRA and regulated by the FCA and PRA in the United Kingdom, are each acting exclusively for Prologis and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Prologis for providing the protections afforded to their respective clients or for providing advice in connection with the subject matter of this announcement. This announcement is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or pursuant to an exemption from registration under the Securities Act of 1933, as amended.The release, publication or distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe such restrictions. Any failure to comply with such restrictions may constitute a violation of the securities law of any such jurisdiction.Disclosure requirements of the CodeUnder Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.Publication on WebsiteIn accordance with Rule 26.1 of the Code, a copy of this announcement will be available subject to certain restrictions relating to persons resident in restricted jurisdictions on Prologis' website at https://ir.prologis.com/ promptly and in any event by no later than 12 noon (London time) on 23 July 2026. The content of this website is not incorporated into and does not form part of this announcement.Forward-Looking StatementsThe statements in this announcement that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which Prologis and SEGRO operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact Prologis' or SEGRO's financial results. Words such as "expects," "anticipates," "intends," "believes," "would," "could," "should" and "estimates," including variations of such words and similar expressions, are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that Prologis expects or anticipates will occur in the future – including statements relating to any possible transaction between Prologis and SEGRO , rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where Prologis and SEGRO operate, expectations regarding new lines of business, Prologis' and SEGRO's respective debt, capital structure and financial position, Prologis' ability to earn revenues from co-investment ventures or form new co-investment ventures and the availability of capital in existing or new co-investment ventures – are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although Prologis believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, Prologis can give no assurance that its expectations will be attained, and therefore actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) the ultimate outcome of any possible transaction between Prologis and SEGRO, including the possibility that SEGRO will continue to reject any proposed transaction with Prologis; (ii) uncertainties as to whether SEGRO will cooperate with Prologis regarding any proposed transaction; (iii) the effect of the announcement of any proposed transaction on the ability of Prologis and SEGRO to operate their respective businesses and retain and hire key personnel and to maintain favourable business relationships; (iv) the timing of any proposed transaction; (v) the ability to satisfy closing conditions to the completion of any proposed transaction (including shareholder approvals); (vi) other risks related to the completion of any proposed transaction and actions related thereto; (vii) international, national, regional and local economic and political climates and conditions; (viii) changes in global financial markets, interest rates and foreign currency exchange rates; (ix) increased or unanticipated competition for Prologis' or SEGRO's properties; (x) risks associated with acquisitions, dispositions and development of properties, including those specific to data center development and the integration of the operations of significant real estate portfolios; (xi) maintenance of Real Estate Investment Trust ("REIT") status, tax structuring and changes in income tax laws and rates; (xii) availability of financing and capital, the levels of debt that Prologis and SEGRO maintain and their credit ratings; (xiii) risks related to Prologis' investments in and management of its co-investment ventures, including the ability to establish new co-investment ventures; (xiv) risks of doing business internationally, including currency risks; (xv) environmental uncertainties, including risks of natural disasters; (xvi) risks related to global pandemics; and (xvii) those additional factors discussed under Part I, Item 1A. Risk Factors in Prologis' Annual Report on Form 10-K for the year ended December 31, 2025. Prologis undertakes no duty to update any forward-looking statements appearing in this announcement except as may be required by law.Sources and BasesShare price and volume weighted average share price data is derived from FactSet£3.5bn Partial Cash Alternative is a rounded figureGBP:USD exchange rate of 1.3371 at market close on 21 July 2026 per FactSetThe value attributed to SEGRO's issued share capital (and therefore the value of the Combination) is based upon fully diluted share capital of 1,361,290,607 SEGRO ordinary shares of 10 pence each, comprising:1,354,090,872 ordinary shares in issue as of 16 July 2026 as announced by SEGRO pursuant to Rule 2.9 of the Takeover Code (with no shares held in treasury); and7,199,735 shares relating to SEGRO's share schemes, derived from SEGRO's 2025 Annual Report. This figure is net of shares held by the SEGRO Employee Benefit TrustPrologis' issued share capital is based upon fully diluted share capital of 960,727,078 shares at par value of $0.01 per share, comprising:933,076,078 shares of common stock at par value of $0.01 per share; and 27,651,000 shares relating to Prologis' share schemes, derived from Prologis' public filings.See-through value of the offer calculates as the PLD share price of $149.94 divided by the GBP:USD exchange rate of 1.3371 and multiplied by 0.0690x (being the exchange ratio multiplied by 75 per cent per the basic entitlement outlined below) and plus 257.9 pence (being the cash basic entitlement)Premium to EPRA NTA is calculated as the see-through value of the offer at the Exchange Ratio divided by the SEGRO pro forma adjusted 30 June 2026 NAV of 905 per the Trading Update dated 8 July 2026Basic entitlements under the Partial Cash Alternative calculated as (i) exchange ratio of 0.0920 multiplied by 75%; and (ii) the fixed cash amount per share of 1,031.7 pence multiplied by 25%SEGRO's shareholding in the enlarged group is calculated as (i) newly issued Prologis shares of 93,929,052 (calculated as 1,361,290,607 SEGRO shares multiplied by 0.0690 exchange ratio at the basic entitlement); divided by (ii) the enlarged group issued share capital of 1,054,656,130 (equal to the existing Prologis fully diluted issued share capital of 960,727,078 plus the newly issued shares of 93,929,052)  View original content to download multimedia:https://www.prnewswire.com/news-releases/best-and-final-proposal-and-request-for-pusu-deadline-extension-302832029.htmlSOURCE Prologis, Inc. Original: Best and Final* Proposal and Request for PUSU Deadline Extension

Further Announcement Regarding a Possible Combination of SEGRO and PrologisJuly 21, 2026 2:07 AM
PR Newswire (US) NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND DOES NOT CONSTITUTE A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE. SAN FRANCISCO, July 21, 2026 /PRNewswire/ --Introduction Following submission of our latest proposal, senior representatives of Prologis, Inc. ("Prologis") met with SEGRO plc ("SEGRO") management in London on Sunday. Having submitted a revised proposal only days earlier, the purpose of that meeting was not to present a further revised offer, but rather to understand whether there was a credible path to a transaction capable of recommendation by the SEGRO Board.We were disappointed that the discussion did not provide meaningful clarity regarding the matters that would enable further progress.SEGRO's aspirational valuation Prologis is very active across the real estate markets in Europe. Prologis' assessment of SEGRO's value is grounded in the quality of its real estate and our expectations for its long-term performance. SEGRO's total property portfolio as at 31 December 2025 was valued at £19.0 billion. Of this, £16.7 billion was categorised as completed assets at an EPRA Net Initial Yield of 4.2 per cent. At market close on 20 July 2026 the UK 10-year Gilt had risen to 5.04 per cent.In SEGRO's Trading Update published on 8 July 2026, it outlined that NAV had declined from 925 pence per share to 905 pence per share over the six months to 30 June 2026. The NAV reflects SEGRO's independent valuers' assessment of the value of all development land and property assets owned by SEGRO as at 30 June 2026. It is very unusual for a real estate defence document to publish a declining NAV during an offer period.SEGRO has consistently traded at a significant discount to its EPRA NTA.  As set out in our presentation published on 20 July 2026, Prologis believes this is not because of temporary market dislocation, the conflict in the Middle East or other factors cited by the SEGRO Board, but because the consensus forecast earnings for SEGRO on a standalone basis imply only 4.7 per cent annual growth over the next three years and 6.4 per cent through 2030, based on SEGRO's guidance 2030 EPS of 50 pence per share. The market requires a much better growth outlook to trade at EPRA NTA. SEGRO has not been able to raise its standalone forecast beyond this growth rate. That is because it has £16.7 billion of completed assets fully valued at an EPRA Net Initial Yield of 4.2 per cent.Based on the see-through value of the proposal announced on 20 July 2026 of 993 pence per share, Prologis is offering SEGRO shareholders a 9.7 per cent premium to its latest pro forma adjusted NAV of 905 pence per share. This would be amongst the highest premiums to NAV paid for a UK real estate company in the last 10 years. It also represents the entry point into an exchange offer, that will allow SEGRO shareholders to benefit from Prologis superior earnings growth, liquidity, and rating than we believe they will receive from SEGRO standalone.Prologis believes that the SEGRO defence relies on unrealistic risk assessments and assumptions to arrive at the various NAV uplifts and earnings projections. Even if we assume earnings of 50 pence per share in 2030, as set out in its presentation dated 8 July 2026, taking SEGRO's latest undisturbed share price to earnings multiple of 19.3x, this implies an undiscounted share price for SEGRO of 964 pence in four years' time. We are offering SEGRO shareholders more than that today.Conclusions The SEGRO Board rejected our March 2024 Proposal in 72 hours, saying "we see no merit in the proposed combination". Prologis believes that decision has left SEGRO shareholders 36.5 per cent worse off. We believe the SEGRO Board is repeating that mistake.Prologis remains convinced that a combination would create substantial long-term value. However, highly disciplined capital allocation has always been fundamental to our strategy and our responsibility to Prologis shareholders.We remain ready to engage constructively at any time in the interests of all shareholders.There can be no certainty that an offer for SEGRO will be made. A further announcement will be made as appropriate.Important Code NotesIn accordance with Rule 2.6(a) of the Code, Prologis is required, by not later than 5:00 pm (London time) on 22 July 2026, to either announce a firm intention to make an offer for SEGRO in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for SEGRO, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may only be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.In accordance with Rule 2.5(a) of the Code, Prologis reserves the right to vary the form and/or mix of consideration as set out in this announcement and/or introduce other forms of consideration. Prologis reserves the right to make an offer for SEGRO at a lower value and/or on less favourable terms than those described in this announcement: (a) with the agreement or recommendation of the Board of SEGRO; (b) if a third party announces a possible or a firm intention to make an offer for SEGRO which, at that date, is of a value less than the value implied by the its proposal; or (c) following the announcement by SEGRO of a Rule 9 waiver transaction pursuant to Appendix 1 of the Code or a reverse takeover (as defined in the Code). If after the date of this announcement SEGRO declares, makes or pays any dividend or distribution or other return of capital to its shareholders, Prologis reserves the right to make an equivalent reduction to terms of the proposal or an equalisation dividend to a common date.Linklaters LLP is retained as legal adviser to Prologis.Further informationN.M. Rothschild & Sons Limited ("Rothschild & Co"), which is authorised and regulated by the Financial Conduct Authority (the "FCA") in the United Kingdom, and J.P. Morgan Securities LLC, together with its affiliate J.P. Morgan Securities plc (which conducts its UK investment banking business as J.P. Morgan Cazenove and which is authorised in the United Kingdom by the Prudential Regulation Authority ("PRA") and regulated in the United Kingdom by the PRA and the FCA) (together "J.P. Morgan"), Eastdil Secured International Limited ("Eastdil Secured" or "ESI") which is authorised and regulated by the Financial Conduct Authority (the "FCA") in the United Kingdom, and Merrill Lynch International ("BofA Securities"), which is authorised by the PRA and regulated by the FCA and PRA in the United Kingdom, are each acting exclusively for Prologis and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Prologis for providing the protections afforded to their respective clients or for providing advice in connection with the subject matter of this announcement. This announcement is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or pursuant to an exemption from registration under the Securities Act of 1933, as amended.The release, publication or distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe such restrictions. Any failure to comply with such restrictions may constitute a violation of the securities law of any such jurisdiction.Disclosure requirements of the CodeUnder Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.Publication on WebsiteIn accordance with Rule 26.1 of the Code, a copy of this announcement will be available subject to certain restrictions relating to persons resident in restricted jurisdictions on Prologis' website at https://ir.prologis.com/ promptly and in any event by no later than 12 noon (London time) on 22 July 2026. The content of this website is not incorporated into and does not form part of this announcement.Forward-Looking StatementsThe statements in this announcement that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which Prologis and SEGRO operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact Prologis' or SEGRO's financial results. Words such as "expects," "anticipates," "intends," "believes," "would," "could," "should" and "estimates," including variations of such words and similar expressions, are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that Prologis expects or anticipates will occur in the future – including statements relating to any possible transaction between Prologis and SEGRO , rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where Prologis and SEGRO operate, expectations regarding new lines of business, Prologis' and SEGRO's respective debt, capital structure and financial position, Prologis' ability to earn revenues from co-investment ventures or form new co-investment ventures and the availability of capital in existing or new co-investment ventures – are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although Prologis believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, Prologis can give no assurance that its expectations will be attained, and therefore actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) the ultimate outcome of any possible transaction between Prologis and SEGRO, including the possibility that SEGRO will continue to reject any proposed transaction with Prologis; (ii) uncertainties as to whether SEGRO will cooperate with Prologis regarding any proposed transaction; (iii) the effect of the announcement of any proposed transaction on the ability of Prologis and SEGRO to operate their respective businesses and retain and hire key personnel and to maintain favourable business relationships; (iv) the timing of any proposed transaction; (v) the ability to satisfy closing conditions to the completion of any proposed transaction (including shareholder approvals); (vi) other risks related to the completion of any proposed transaction and actions related thereto; (vii) international, national, regional and local economic and political climates and conditions; (viii) changes in global financial markets, interest rates and foreign currency exchange rates; (ix) increased or unanticipated competition for Prologis' or SEGRO's properties; (x) risks associated with acquisitions, dispositions and development of properties, including those specific to data center development and the integration of the operations of significant real estate portfolios; (xi) maintenance of Real Estate Investment Trust ("REIT") status, tax structuring and changes in income tax laws and rates; (xii) availability of financing and capital, the levels of debt that Prologis and SEGRO maintain and their credit ratings; (xiii) risks related to Prologis' investments in and management of its co-investment ventures, including the ability to establish new co-investment ventures; (xiv) risks of doing business internationally, including currency risks; (xv) environmental uncertainties, including risks of natural disasters; (xvi) risks related to global pandemics; and (xvii) those additional factors discussed under Part I, Item 1A. Risk Factors in Prologis' Annual Report on Form 10-K for the year ended December 31, 2025. Prologis undertakes no duty to update any forward-looking statements appearing in this announcement except as may be required by law.Sources and BasesShare price and volume weighted average share price data is derived from FactSetGBP:USD exchange rate of 1.3445 at market close on 17 July 2026 per FactSetUK 10-year Gilt based on market close on 20 July 2026 per FT marketsSee-through value of the offer calculated as the Prologis share price of $149.76 divided by the GBP:USD exchange rate of 1.3445 and multiplied by 0.0712x (being the exchange ratio multiplied by 80 per cent per the basic entitlement outlined below) and plus 200 pence (being the cash basic entitlement)Basic entitlements under the partial cash alternative calculated as (i) exchange ratio of 0.0890 multiplied by 80%; and (ii) the fixed cash amount per share of 1,000 pence multiplied by 20%Premium to EPRA NTA is calculated as the see-through value of the proposal announced on 20 July 2026 at an exchange ratio of 0.0890 new Prologis shares for each SEGRO share divided by the SEGRO pro forma adjusted 30 June 2026 NAV of 905 per the SEGRO Trading Update dated 8 July 20264.7 per cent per annum growth in earnings calculated based on the SEGRO consensus EPS for the year ended 31 December 2028 of 42.0 pence, compared to the last reported adjusted EPS figure of 36.6 pence as of 31 December 20256.4 per cent per annum growth in earnings calculated based on the SEGRO FY30 EPS of 50 pence as per the SEGRO management presentation on 8 July 2026, compared to the last reported adjusted EPS figure of 36.6 pence as of 31 December 2025Price to earnings multiple of 19.3x calculated as SEGRO share price of 742 pence as of 23 June 2026, being the undisturbed date, divided by SEGRO consensus EPS for FY26 of 38.5 penceShare price of 964 pence calculated as 19.3x multiplied by SEGRO FY30 EPS of 50 pence as per the SEGRO management presentation on 8 July 202636.5 per cent loss of value on Prologis' share price converted to pence using the exchange rate as of 23/06/2026 and multiplied by the exchange ratio of 0.092x relating to the proposal made to SEGRO by Prologis in March 2024SEGRO's total property portfolio of £19 billion, completed assets of £16.7 billion and EPRA Net Initial Yield of 4.2% based on SEGRO's 2025 annual reportSEGRO Earnings per share consensus forecastAnalystDateDec-26EDec-27EDec-28ESociete Generale25-Jun-2638p40p42pBerenberg31-Mar-2639p40p42pBarclays30-Mar-2638p39p39pDeutsche20-Mar-2638p40p42pPeel Hunt05-Mar-2639p41p44pKepler Cheuvreux02-Mar-2639p39p40pPanmure Liberum 02-Mar-2639p40p42pShore Capital26-Feb-2639p42p45pJefferies20-Feb-2638p39p41pMean
38p40p42p




High
39.0p42.0p45.3pLow
37.8p38.8p39.4p




Connected Advisors



Bank of America25-Jun-2638p38p39pGoldman Sachs25-Jun-2639p41p43pUBS27-Apr-2639p41p43pJP Morgan04-Mar-2639p41pn.a.Note: Mean excludes research from connected advisers. Forecast compiled without the agreement or approval of SEGRO  View original content to download multimedia:https://www.prnewswire.com/news-releases/further-announcement-regarding-a-possible-combination-of-segro-and-prologis-302830410.htmlSOURCE Prologis, Inc. Original: Further Announcement Regarding a Possible Combination of SEGRO and Prologis

Third Proposal and Introduction of a Partial Cash AlternativeJuly 20, 2026 2:08 AM
PR Newswire (US) NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND DOES NOT CONSTITUTE A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE.SAN FRANCISCO, July 20, 2026 /PRNewswire/ --Introduction Prologis, Inc. ("Prologis") announces that since its announcement of 24 June 2026, it has made two further proposals to the Board of SEGRO plc ("SEGRO") pursuant to which Prologis would make an offer to acquire the entire issued and to be issued share capital of SEGRO (the "Combination").Prologis made its second proposal on 10 July 2026 which was rejected on 12 July 2026. Prologis' most recent proposal was made on 16 July 2026 (the "Third Proposal") and rejected on 17 July 2026.Prologis believes the Third Proposal provides a compelling opportunity for both sets of shareholders and urges SEGRO shareholders to encourage their Board to recommend the Combination.Prologis has today published a new investor presentation to help shareholders assess the Third Proposal and the Combination.Our Revised Proposal Delivers Superior ValueThe Third Proposal consists of:0.0890 new Prologis shares for each SEGRO share, a 6.0 per cent increase over Prologis' initial proposal; anda Partial Cash Alternative of up to £2.7bn, representing 20 per cent of the total consideration, at a fixed price of 1,000 pence per SEGRO share, subject to pro-rata scale-back.Based on Prologis' closing share price of $149.79 and the GBP:USD exchange of 1.3445 on 17 July 2026, being the last practicable date prior to this announcement, and assuming a shareholder elects for 20 per cent cash, the Third Proposal values each SEGRO share at 993 pence, representing:a premium of 9.7 per cent to SEGRO's pro forma adjusted NAV of 905 pence per share as of 30 June 2026;a premium of 33.8 per cent to the closing price of 742 pence per share on 23 June 2026 (being the day prior to the commencement of the offer period);a premium of 36.0 per cent to the 1-month volume weighted average share price of 730 pence as of 23 June 2026 (being the day prior to the commencement of the offer period); anda premium of 41.1 per cent to the 3-month volume weighted average share price of 704 pence as of 23 June 2026 (being the day prior to the commencement of the offer period).The Third Proposal values the issued and to be issued share capital of SEGRO at approximately £13.5 billion.Following completion of the Combination and assuming that the Partial Cash Alternative is fully taken up, existing SEGRO shareholders would hold approximately 9.2 per cent of Prologis' issued share capital.Prologis also confirms that, in connection with the Combination, it intends to explore the feasibility of a secondary listing of Prologis shares on the London Stock Exchange if there is sufficient investor demand. For any such secondary listing to be feasible, Prologis expects that SEGRO Board engagement with Prologis will be required.Prologis Global Platform Continues to Deliver, Further Enhancing Our ProposalPrologis' Q2 2026 results further enhance the Third Proposal and demonstrate growth and value creation across its business lines. Prologis delivered year-on-year same-store NOI growth of 8.5 per cent and year-on-year Core FFO per share growth of 11.6 per cent.FY'26 H1 data center starts reached $2.1 billion, exceeding previous full-year guidance, and the 5.8 GW power pipeline has more than doubled over the last two years. Prologis also increased 2026 Core FFO per share guidance by 179 basis points at the midpoint.The Standalone Case Doesn't Add UpPrologis has thoroughly assessed SEGRO's investor presentation dated 8 July 2026. With deep operating experience in SEGRO's markets, a global development platform and an established end-to-end data center business, Prologis is well positioned to evaluate the claims being made. The facts SEGRO shareholders should consider are clear:SEGRO's Assessment of Value Is UnrealisticSEGRO's discount rate applied of 8 per cent understates both execution risk and cost of capital in relation to speculative, long-dated, often un-zoned and untenanted development projects.The Paris data center entitlement revocation shows its powered land bank is subject to material risk, which does not appear to be factored into SEGRO's valuation exercise.SEGRO's Own Actions Contradict Its Valuation ClaimsSEGRO's defense valuation adds a "cluster" premium, despite planning to dispose of prime assets, including significant development land, into the proposed PSP joint venture at NAV.SEGRO's reported NAV declined 2.2 per cent in the first half of 2026.Shareholders Bear All the RiskThe SEGRO Board rejected the Third Proposal valued at 993 pence (based on an election for 20 per cent of consideration in cash) for value that may never materialise.Questions remain regarding leadership succession.Market evidence does not support a standalone share price consistent with Prologis' proposal.While Prologis disputes the approach and fundamental basis of the SEGRO defence exercise, Prologis would expect SEGRO to confirm it will apply the same valuation framework and assumptions in its evaluation of Prologis as part of its assessment of the exchange offer and relative value.SEGRO's 2024 Rejection of Prologis Proposal Was Costly for SEGRO ShareholdersPrologis made an all-share proposal to SEGRO in March 2024 to acquire the entire issued and to be issued share capital of SEGRO (the "March 2024 Proposal"). The March 2024 Proposal implied a headline price of 963 pence per share and a 7.1 per cent premium to NTA.SEGRO, as with our initial approach announced on 24 June 2026, dismissed the March 2024 Proposal as "opportunistic", stating that "we are not seeking to combine or sell SEGRO" and "we see no merit in the proposed combination".Had SEGRO engaged in March 2024 and SEGRO shareholders been given the opportunity to consider a firm offer made under Rule 2.7 of the Code on the terms of the March 2024 Proposal and it had become unconditional on its terms, SEGRO shareholders could be 36.5 per cent better off today in share price terms. References in this statement to the March 2024 Proposal are for factual information purposes only
and shall not be construed as indicating any terms of any transaction or offer for the purposes of Rule
2.5 of the Code.SEGRO Shareholders Face a Clear ChoicePrologis' proposal provides upfront value, greater flexibility and long-term upside opportunity. SEGRO's standalone plan relies on flawless execution of a significant, long-dated development pipeline, substantial third-party funding and an unjustified valuation.Prologis urges SEGRO shareholders to encourage the Board of SEGRO to recommend the Combination.The investor presentation published today is available on Prologis' website at https://ir.prologis.com/potential-offer-for-segro-disclaimer subject to certain restrictions.There can be no certainty that an offer for SEGRO will be made. A further announcement will be made as appropriate.Important Code NotesIn accordance with Rule 2.6(a) of the Code, Prologis is required, by not later than 5:00 pm (London time) on 22 July 2026, to either announce a firm intention to make an offer for SEGRO in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for SEGRO, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may only be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.In accordance with Rule 2.5(a) of the Code, Prologis reserves the right to vary the form and/or mix of consideration as set out in this announcement and/or introduce other forms of consideration. Prologis reserves the right to make an offer for SEGRO at a lower value and/or on less favourable terms than those described in this announcement: (a) with the agreement or recommendation of the Board of SEGRO; (b) if a third party announces a possible or a firm intention to make an offer for SEGRO which, at that date, is of a value less than the value implied by the Third Proposal; or (c) following the announcement by SEGRO of a Rule 9 waiver transaction pursuant to Appendix 1 of the Code or a reverse takeover (as defined in the Code). If after the date of this announcement SEGRO declares, makes or pays any dividend or distribution or other return of capital to its shareholders, Prologis reserves the right to make an equivalent reduction to terms of the Third Proposal or an equalisation dividend to a common date.The Partial Cash AlternativeThe maximum aggregate amount of the partial cash alternative is £2.7 billion, representing approximately 20 per cent of the total value of the consideration based on the offer price of 993 pence per share (the "Partial Cash Alternative").SEGRO shareholders who validly elect to receive the Partial Cash Alternative for the basic entitlement (equal to 20 per cent of the fixed cash amount of a fixed 1,000 pence per share) would receive 200 pence in cash and would also receive 0.0712 new Prologis shares for each SEGRO share.SEGRO shareholders may elect to receive cash consideration less than, or in excess of, their basic entitlement. Elections to receive cash in excess of this basic entitlement may be scaled back pro rata, depending upon the overall level of take-up of the Partial Cash Alternative.The Partial Cash Alternative would not affect the entitlements of those SEGRO shareholders who do not elect for it, each of whom would receive 0.0890 new Prologis shares for each SEGRO share. Linklaters LLP is retained as legal adviser to Prologis.Further informationN.M. Rothschild & Sons Limited ("Rothschild & Co"), which is authorised and regulated by the Financial Conduct Authority (the "FCA") in the United Kingdom, and J.P. Morgan Securities LLC, together with its affiliate J.P. Morgan Securities plc (which conducts its UK investment banking business as J.P. Morgan Cazenove and which is authorised in the United Kingdom by the Prudential Regulation Authority ("PRA") and regulated in the United Kingdom by the PRA and the FCA) (together "J.P. Morgan"), Eastdil Secured International Limited ("Eastdil Secured" or "ESI") which is authorised and regulated by the Financial Conduct Authority (the "FCA") in the United Kingdom, and Merrill Lynch International ("BofA Securities"), which is authorised by the PRA and regulated by the FCA and PRA in the United Kingdom, are each acting exclusively for Prologis and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Prologis for providing the protections afforded to their respective clients or for providing advice in connection with the subject matter of this announcement. This announcement is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or pursuant to an exemption from registration under the Securities Act of 1933, as amended.The release, publication or distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe such restrictions. Any failure to comply with such restrictions may constitute a violation of the securities law of any such jurisdiction.Disclosure requirements of the CodeUnder Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.Publication on WebsiteIn accordance with Rule 26.1 of the Code, a copy of this announcement will be available subject to certain restrictions relating to persons resident in restricted jurisdictions on Prologis' website at https://ir.prologis.com/ promptly and in any event by no later than 12 noon (London time) on 21 July 2026. The content of this website is not incorporated into and does not form part of this announcement.Forward-Looking StatementsThe statements in this announcement that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which Prologis and SEGRO operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact Prologis' or SEGRO's financial results. Words such as "expects," "anticipates," "intends," "believes," "would," "could," "should" and "estimates," including variations of such words and similar expressions, are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that Prologis expects or anticipates will occur in the future – including statements relating to any possible transaction between Prologis and SEGRO , rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where Prologis and SEGRO operate, expectations regarding new lines of business, Prologis' and SEGRO's respective debt, capital structure and financial position, Prologis' ability to earn revenues from co-investment ventures or form new co-investment ventures and the availability of capital in existing or new co-investment ventures – are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although Prologis believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, Prologis can give no assurance that its expectations will be attained, and therefore actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) the ultimate outcome of any possible transaction between Prologis and SEGRO, including the possibility that SEGRO will continue to reject any proposed transaction with Prologis; (ii) uncertainties as to whether SEGRO will cooperate with Prologis regarding any proposed transaction; (iii) the effect of the announcement of any proposed transaction on the ability of Prologis and SEGRO to operate their respective businesses and retain and hire key personnel and to maintain favourable business relationships; (iv) the timing of any proposed transaction; (v) the ability to satisfy closing conditions to the completion of any proposed transaction (including shareholder approvals); (vi) other risks related to the completion of any proposed transaction and actions related thereto; (vii) international, national, regional and local economic and political climates and conditions; (viii) changes in global financial markets, interest rates and foreign currency exchange rates; (ix) increased or unanticipated competition for Prologis' or SEGRO's properties; (x) risks associated with acquisitions, dispositions and development of properties, including those specific to data center development and the integration of the operations of significant real estate portfolios; (xi) maintenance of Real Estate Investment Trust ("REIT") status, tax structuring and changes in income tax laws and rates; (xii) availability of financing and capital, the levels of debt that Prologis and SEGRO maintain and their credit ratings; (xiii) risks related to Prologis' investments in and management of its co-investment ventures, including the ability to establish new co-investment ventures; (xiv) risks of doing business internationally, including currency risks; (xv) environmental uncertainties, including risks of natural disasters; (xvi) risks related to global pandemics; and (xvii) those additional factors discussed under Part I, Item 1A. Risk Factors in Prologis' Annual Report on Form 10-K for the year ended December 31, 2025. Prologis undertakes no duty to update any forward-looking statements appearing in this announcement except as may be required by law.Sources and BasesShare price and volume weighted average share price data is derived from FactSet£2.7bn Partial Cash Alternative is a rounded figureGBP:USD exchange rate of 1.3445 at market close on 17 July 2026 per FactSetThe value attributed to SEGRO's issued share capital (and therefore the value of the Combination) is based upon fully diluted share capital of 1,361,290,607 SEGRO ordinary shares of 10 pence each, comprising:1,354,090,872 ordinary shares in issue as of 16 July 2026 as announced by SEGRO pursuant to Rule 2.9 of the Takeover Code (with no shares held in treasury); and7,199,735 shares relating to SEGRO's share schemes, derived from SEGRO's 2025 Annual Report. This figure is net of shares held by the SEGRO Employee Benefit TrustPrologis' issued share capital is based upon fully diluted share capital of 960,679,487 shares at par value of $0.01 per share, comprising:933,028,487 shares of common stock at par value of $0.01 per share; and 27,651,000 shares relating to Prologis' share schemes, derived from Prologis' public filings.See-through value of the offer calculates as the PLD share price of $149.76 divided by the GBP:USD exchange rate of 1.3445 and multiplied by 0.0712x (being the exchange ratio multiplied by 80 per cent per the basic entitlement outlined below) and plus 200 pence (being the cash basic entitlement)Discount to EPRA NTA is calculated as the see-through value of the offer at the Exchange Ratio divided by the SEGRO pro forma adjusted 30 June 2026 NAV of 905 per the Trading Update dated 8 July 2026Basic entitlements under the Partial Cash Alternative calculated as (i) exchange ratio of 0.0890 multiplied by 80%; and (ii) the fixed cash amount per share of 1,000 pence multiplied by 20%SEGRO's shareholding in the enlarged group is calculated as (i) newly issued Prologis shares of 96,923,891 (calculated as 1,361,290,607 SEGRO shares multiplied by 0.0712 exchange ratio at the basic entitlement); divided by (ii) the enlarged group issued share capital of 1,057,603,378 (equal to the existing Prologis fully diluted issued share capital of 960,679,487 plus the newly issued shares of 96,923,891)Prologis' power pipeline as of Q2 2026 is as set out in Prologis' quarterly earnings release and supplemental informationUnder the terms of the March 2024 Proposal, SEGRO shareholders would have received 0.092 new Prologis shares for each SEGRO share held, which at the prevailing Prologis share price of $133.08 and exchange rate (GBP:USD 1.2745) as at the date of the March 2024 Proposal would have implied an offer value of 963 pence per SEGRO share.The discount to NTA for the March 2024 Proposal is calculated as the offer value of 963 pence (see above) divided by the SEGRO adjusted NAV of 899 pence. This represents the 31 December 2023 EPRA NTA of 907 pence, pro forma for the impact of SEGRO's £907 million equity raise in February 2024.Between the date of the March 2024 Proposal to the day prior to the commencement of the offer period, the SEGRO share price has decreased by 15.0 per cent. and the Prologis share price has increased by 9.1 per cent.36.5 per cent difference calculated as the Prologis share price on 23 June 2026 of $145.25 divided by the GBP:USD rate of 1.3196 and multiplied by the exchange ratio of 0.092x which equals 1,013 pence. This is then divided by the SEGRO share price on 23 June 2026 of 742 pence.Prologis Q2 Earnings metrics are taken from the Q2 Earnings Release, Supplemental Financial Report and Investor Fact Sheet. All published on 16 July 2026.SEGRO discount rate of 8 per cent for development properties and data center development is sourced from the SEGRO "Sources of information and basis of calculation" posted on the microsite.SEGRO NTA decline of 2.2 per cent calculated as the 30 June 2026 pro forma NTA of 905 pence divided by the SEGRO EPRA NTA of 925 pence as at 31 December 2025, minus 1. View original content to download multimedia:https://www.prnewswire.com/news-releases/third-proposal-and-introduction-of-a-partial-cash-alternative-302829394.htmlSOURCE Prologis, Inc. Original: Third Proposal and Introduction of a Partial Cash Alternative

Prologis raises 2026 guidance again after record leasing quarter (PLD)July 16, 2026 9:41 AM
IH Market News Record leasing supports stronger quarterly performance Prologis (NYSE:PLD) lifted its full-year 2026 outlook for the second time this year after delivering stronger second-quarter results, driven by record leasing activity, higher occupancy levels and continued momentum across its logistics and data center operations. For the quarter ended June 30, the industrial real estate company reported net earnings of $1.13 per diluted share, up from $0.61 in the same period last year. Core funds from operations (FFO) increased to $1.63 per diluted share from $1.46 a year earlier, while Core FFO excluding net promote income totaled $1.60 per share. The company completed more than 67 million square feet of leasing during the quarter, marking the highest quarterly leasing volume in its history. Portfolio occupancy improved to 95.5% from 95.3% at the end of the first quarter, while cash same-store net operating income (NOI) climbed 8.5% year over year. Net effective rent growth reached 36.9%. Investment activity accelerates across logistics and data centers Prologis continued investing across its platform, launching $1.6 billion of logistics and data center developments during the quarter. It also completed $1.8 billion of third-party acquisitions, expanded its data center power pipeline to 5.8 gigawatts, disposed of $766 million in assets and contributed $518 million of logistics properties into its strategic capital vehicles. Reflecting the stronger operating performance, the company increased its 2026 net earnings forecast to a range of $4.40 to $4.55 per diluted share, compared with previous guidance of $3.80 to $4.05. Core FFO guidance was also raised to between $6.22 and $6.30 per share from the prior range of $6.07 to $6.23. Management also increased expectations for development starts, acquisitions, property contributions and asset sales. Prologis ended the quarter with approximately $7.6 billion in available liquidity, a debt-to-adjusted EBITDA ratio of 4.7x and a weighted average debt interest rate of 3.3%. Chief Executive Officer Daniel Letter said customer demand is expanding across logistics, digital infrastructure and energy markets, supporting the company’s long-term growth strategy. Prologis stock priceThe post Prologis raises 2026 guidance again after record leasing quarter (PLD) appeared first on US Editors. Original: Prologis raises 2026 guidance again after record leasing quarter (PLD)

Combining SEGRO and Prologis - A Credible Path to Value CreationJuly 9, 2026 2:35 AM
PR Newswire (US) NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.THIS ANNOUNCEMENT IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE"). THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE.SAN FRANCISCO, July 9, 2026 /PRNewswire/ -- Following constructive engagement with SEGRO plc's ("SEGRO") shareholders and the presentation published by SEGRO yesterday, Prologis, Inc. ("Prologis") today published a new investor presentation to help shareholders further assess the significant potential benefits of a combination of Prologis and SEGRO.Prologis believes constructive engagement with Prologis remains the best path for the Board of SEGRO to maximise long-term value for SEGRO shareholders and wider stakeholders, for four compelling reasons:Prologis brings both a superior platform and a larger data center opportunityPrologis' platform creates advantages that cannot be replicated by SEGROSEGRO's public market valuation reflects its structural constraintsThe strategic rationale is clear — constructive engagement creates the best outcome1.  Prologis Brings Both a Superior Platform and a Larger Data Center Opportunity Prologis has an established data center platform with end-to-end capabilities to convert power into data center value. It is staffed to deliver on the substantial data center opportunity with a dedicated data center team of 75+ people along with a 250+ person development team, 175+ person in-house energy team and a 35+ person procurement team. Prologis has a proven track record for execution, and monetisation from its data center platform.Prologis' power pipeline of 5.8GW across approximately 30 projects (less than 1% of the Prologis portfolio) is either secured or in advanced stages, with a longer-term estimate of 10GW+ with meaningful potential upside and more than 150 projects with power applications under review. SEGRO shareholders have the opportunity to benefit from a more experienced, larger and better-capitalised data center platform that can capture and maximise the long-term value of both companies' data center pipelines as well as the upside from Prologis' broader embedded power potential.2.  Prologis' Platform Creates Advantages That Cannot be Replicated by SEGROSEGRO's reliance on project-level joint ventures underscores the capital constraints it faces as a standalone company. Under these structures SEGRO shareholders will give away significant value and upside to joint venture partners while, unlike Prologis, not earning any fees or promotes that would amplify returns.Prologis believes this highlights SEGRO's capital and capability deficiencies, giving away a share of the potential return to a partner, whilst constraining SEGRO's ability to deploy capital competitively at pace. The development activity within the Pure Data Center joint venture, and future joint ventures for fully fitted data center development per the strategy set out by SEGRO, is funded by high leverage at a loan-to-cost ratio of approximately 70%.A combination with Prologis offers SEGRO shareholders a stronger path to value creation than project-level joint ventures. It would allow SEGRO shareholders to participate in the upside of SEGRO's pipeline while benefiting from Prologis' scaled, global platform, fortress balance sheet and established strategic capital platform.3.  SEGRO's Public Market Valuation Reflects its Structural ConstraintsSEGRO's portfolio value is transparent with third-party valuations carried out every six months. Based on its 31 December 2025 valuation, SEGRO's asset value comprised 88% completed assets and 12% development properties and land sites valued using the residual method.SEGRO's consensus forecast earnings growth for the next three years is lacklustre, particularly in comparison to its European logistics peers. Based on analyst consensus, SEGRO's forecast EPS CAGR for the period from 2025 to 2028 is 4.7% compared to a 7.1% forecast EPS CAGR for European logistics peers. That growth outlook does not support a premium market valuation particularly given that SEGRO already trades on a much higher price to earnings ratio than its European logistics peers.Prologis notes SEGRO management's new adjusted earnings guidance of 50 pence per share by 2030 which implies a compound annual growth rate of 6.4%. This will require a higher growth rate in the later years of the forecast based on the lower near-term consensus growth. This growth will require significant investment and new capital, and is by no means certain.4.  The Strategic Rationale is Clear — Constructive Engagement Creates the Best OutcomeThe proposed combination offers SEGRO shareholders a substantial upfront premium and participation in a long-term value opportunity through ownership of the combined platform.Customers would benefit from Prologis' global platform, deep local leadership and expertise as well as proven execution across leading logistics markets that support increasingly international supply chains. Communities will continue to benefit from Prologis' long-term investment approach and sustained investment in skills and partnerships.Prologis has a significant footprint across Europe and has operated in the U.K. for nearly 30 years. The combination supports the U.K.'s growth agenda through continued investment in strategic logistics infrastructure, strengthening supply chain resilience and creating long-term economic opportunity.Constructive EngagementPrologis remains ready to engage constructively with the SEGRO Board and believes that a collaborative dialogue would enable both companies to explore the full potential of a combination and ensure shareholders are able to evaluate all available opportunities.Prologis urges SEGRO shareholders to encourage the SEGRO Board to engage with Prologis to allow a binding offer to be put to SEGRO shareholders for their consideration.The investor presentation published today is available on Prologis' website at https://ir.prologis.com/potential-offer-for-segro-disclaimer, subject to certain restrictions.There can be no certainty that an offer for SEGRO will be made. A further announcement will be made as appropriate.Linklaters LLP is retained as legal adviser to Prologis.Further informationN.M. Rothschild & Sons Limited ("Rothschild & Co"), which is authorised and regulated by the Financial Conduct Authority (the "FCA") in the United Kingdom, and J.P. Morgan Securities LLC, together with its affiliate J.P. Morgan Securities plc (which conducts its UK investment banking business as J.P. Morgan Cazenove and which is authorised in the United Kingdom by the Prudential Regulation Authority ("PRA") and regulated in the United Kingdom by the PRA and the FCA) (together "J.P. Morgan"), Eastdil Secured International Limited ("Eastdil Secured" or "ESI") which is authorised and regulated by the Financial Conduct Authority (the "FCA") in the United Kingdom, and Merrill Lynch International ("BofA Securities"), which is authorised by the PRA and regulated by the FCA and PRA in the United Kingdom, are each acting exclusively for Prologis and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Prologis for providing the protections afforded to their respective clients or for providing advice in connection with the subject matter of this announcement. This announcement is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or pursuant to an exemption from registration under the Securities Act of 1933, as amended.The release, publication or distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe such restrictions. Any failure to comply with such restrictions may constitute a violation of the securities law of any such jurisdiction.Disclosure requirements of the CodeUnder Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.Publication on WebsiteIn accordance with Rule 26.1 of the Code, a copy of this announcement will be available subject to certain restrictions relating to persons resident in restricted jurisdictions on Prologis' website at https://ir.prologis.com/ promptly and in any event by no later than 12 noon (London time) on 10 July 2026. The content of this website is not incorporated into and does not form part of this announcement.Forward-Looking StatementsThe statements in this announcement that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which Prologis and SEGRO operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact Prologis' or SEGRO's financial results. Words such as "expects," "anticipates," "intends," "believes," "would", "could", "should" and "estimates," including variations of such words and similar expressions, are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that Prologis expects or anticipates will occur in the future – including statements relating to any possible transaction between Prologis and SEGRO , rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where Prologis and SEGRO operate, expectations regarding new lines of business, Prologis' and SEGRO's debt, capital structure and financial position, Prologis' ability to earn revenues from co-investment ventures or form new co-investment ventures and the availability of capital in existing or new co-investment ventures – are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although Prologis believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, Prologis can give no assurance that its expectations will be attained, and therefore actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) the ultimate outcome of any possible transaction between Prologis and SEGRO, including the possibility that SEGRO will continue to reject any proposed transaction with Prologis; (ii) uncertainties as to whether SEGRO will cooperate with Prologis regarding any proposed transaction; (iii) the effect of the announcement of any proposed transaction on the ability of Prologis and SEGRO to operate their respective businesses and retain and hire key personnel and to maintain favourable business relationships; (iv) the timing of any proposed transaction; (v) the ability to satisfy closing conditions to the completion of any proposed transaction (including shareholder approvals); (vi) other risks related to the completion of any proposed transaction and actions related thereto; (vii) international, national, regional and local economic and political climates and conditions; (viii) changes in global financial markets, interest rates and foreign currency exchange rates; (ix) increased or unanticipated competition for Prologis' or SEGRO's properties; (x) risks associated with acquisitions, dispositions and development of properties, including those specific to data center development and the integration of the operations of significant real estate portfolios; (xi) maintenance of Real Estate Investment Trust ("REIT") status, tax structuring and changes in income tax laws and rates; (xii) availability of financing and capital, the levels of debt that Prologis and SEGRO maintain and their credit ratings; (xiii) risks related to Prologis' investments in and management of its co-investment ventures, including the ability to establish new co-investment ventures; (xiv) risks of doing business internationally, including currency risks; (xv) environmental uncertainties, including risks of natural disasters; (xvi) risks related to global pandemics; and (xvii) those additional factors discussed under Part I, Item 1A. Risk Factors in Prologis' Annual Report on Form 10-K for the year ended December 31, 2025. Prologis undertakes no duty to update any forward-looking statements appearing in this announcement except as may be required by law.Sources and BasesLoan-to-cost of 70% for the Fully Fitted joint venture strategy is as set out on page 23 of 08/07/2026 management presentationSEGRO's portfolio value composition is as at 31 December 2025 and as disclosed the SEGRO 2025 Annual Report and SEGRO 2025 Full Year Results Property AnalysisSEGRO's EPS compounded annual growth is as per the average of consensus estimates. This has been compiled from available research analysts. The average excludes research from connected advisers. The forecast compiled without the agreement or approval of SEGRO.SEGRO's EPS compounded annual growth rate is calculated based on the Full Year 2025 earnings per share and the EPS estimate for the 2028 financial year, per consensusEuropean Logistics Peers comprise Argan, CTP, Montea, Tritax Big Box and Warehouses De PauwThe European Logistics Peers EPS forecasts are as per FactSet. The peer CAGR represents the simple average of the peers respective forecastsSEGRO 2030 earnings per share guidance of 50 pence as announced by SEGRO on 08/07/2026.SEGRO EPRA NTA sourced from SEGRO's 2025 Annual Report and Accounts, with prior years' EPRA NTA sourced from its 2024 and 2023 Annual Report and Accounts and its 2024 and 2023 interim results.Prologis' power pipeline as of 2Q26 is as set out on page 5 of Prologis' 09/07/2026 investor presentation.SEGRO Earnings per share consensus forecastAnalystDateDec-26EDec-27EDec-28E




Societe Generale25-Jun-2638p40p42pBerenberg31-Mar-2639p40p42pBarclays30-Mar-2638p39p39pDeutsche20-Mar-2638p40p42pPeel Hunt05-Mar-2639p41p44pKepler Cheuvreux02-Mar-2639p39p40pPanmure Liberum 02-Mar-2639p40p42pShore Capital26-Feb-2639p42p45pJefferies20-Feb-2638p39p41pMean
38p40p42p




High
39.0p42.0p45.3pLow
37.8p38.8p39.4p




Connected Advisors



Bank of America25-Jun-2638p38p39pGoldman Sachs25-Jun-2639p41p43pUBS27-Apr-2639p41p43pJP Morgan04-Mar-2639p41pn.a.Note: Mean excludes research from connected advisers. Forecast compiled without the agreement or approval of SEGRO   View original content to download multimedia:https://www.prnewswire.com/news-releases/combining-segro-and-prologis---a-credible-path-to-value-creation-302821664.htmlSOURCE Prologis, Inc. Original: Combining SEGRO and Prologis - A Credible Path to Value Creation

Creating Shareholder Value Through a Possible Prologis and SEGRO CombinationJune 30, 2026 2:14 AM
PR Newswire (US) Publication of Investor Presentation in Relation to the Possible CombinationNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.THIS ANNOUNCEMENT IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE"). THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE.SAN FRANCISCO, June 30, 2026 /PRNewswire/ -- Following its announcement on 24 June 2026 regarding a possible all-share combination with SEGRO plc ("SEGRO"), Prologis, Inc. ("Prologis") today published an investor presentation setting out the strategic and financial rationale for the proposed combination and the value Prologis believes it could create for SEGRO shareholders.The presentation has been made available on the Prologis website and highlights:The compelling value proposition for SEGRO shareholders who will participate in this growth following the combination, including a substantial upfront premium from joining the new, stronger entity and the world's leading logistics real estate platform;Prologis' access to public and private capital that will enable Prologis to unlock and accelerate the embedded value of SEGRO's development and data center pipeline which Prologis believes SEGRO is unable to fully realize on a standalone basis given its balance sheet capacity and persistent trading discount;Prologis' track record of outperformance delivering substantial total shareholder returns driven by its development strategy, strategic capital platform, global access to capital and resilient operating performance, as well as successful integration of large-scale acquisitions. Over the past five years, total shareholder returns have equaled 38.6% for Prologis, compared with a 20.1% decline for SEGRO;Prologis' long-standing presence in the UK and Europe, which has grown to £27.8 billion of AUM since 1997, and its proven track record of investing in, developing and operating logistics real estate, including £5.6 billion invested in the UK over the past decade and a further £5.5 billion publicly committed. This underscores Prologis' role as a long-term partner in supporting the development of the UK economy;Prologis' long track record of successfully integrating major acquisitions, achieving synergies and delivering significant total return outperformance to shareholders post strategic mergers relative to peers. These include Duke Realty (+2,200 bps since June 2022), Liberty Property Trust (+5,400 bps since October 2019) and DCT Industrial (+6,100 bps since April 2018); andThe combined company's ability to accelerate investment across logistics, data centers and energy while leveraging technology and data to further enhance customer centricity that creates a win-win value proposition for customers and shareholders.The presentation is available on Prologis' website at https://ir.prologis.com/potential-offer-for-segro-disclaimer (subject to certain restrictions). Linklaters LLP is retained as legal adviser to Prologis.Further informationN.M. Rothschild & Sons Limited ("Rothschild & Co"), which is authorised and regulated by the Financial Conduct Authority (the "FCA") in the United Kingdom and J.P. Morgan Securities LLC, together with its affiliate J.P. Morgan Securities plc (which conducts its UK investment banking business as J.P. Morgan Cazenove and which is authorised in the United Kingdom by the Prudential Regulation Authority ("PRA") and regulated in the United Kingdom by the PRA and the FCA) (together "J.P. Morgan"), and Eastdil Secured International Limited ("Eastdil Secured" or "ESI") which is authorised and regulated by the Financial Conduct Authority (the "FCA") in the United Kingdom are acting exclusively for Prologis and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Prologis for providing the protections afforded to their clients or for providing advice in connection with the subject matter of this announcement. This announcement is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction.The release, publication or distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe such restrictions. Any failure to comply with such restrictions may constitute a violation of the securities law of any such jurisdiction.Disclosure requirements of the CodeUnder Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.Publication on WebsiteIn accordance with Rule 26.1 of the Code, a copy of this announcement will be available subject to certain restrictions relating to persons resident in restricted jurisdictions on Prologis' website at https://ir.prologis.com/ promptly and in any event by no later than 12 noon (London time) on 1 July 2026. The content of this website is not incorporated into and does not form part of this announcement.Forward-Looking StatementsThe statements in this announcement that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which Prologis and SEGRO operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact Prologis' or SEGRO's financial results. Words such as "expects," "anticipates," "intends," "believes," "would", "could", "should" and "estimates," including variations of such words and similar expressions, are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that Prologis expects or anticipates will occur in the future – including statements relating to any possible transaction between Prologis and SEGRO , rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where Prologis and SEGRO operate, expectations regarding new lines of business, Prologis' and SEGRO's debt, capital structure and financial position, Prologis' ability to earn revenues from co-investment ventures or form new co-investment ventures and the availability of capital in existing or new co-investment ventures – are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although Prologis believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, Prologis can give no assurance that its expectations will be attained, and therefore actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) the ultimate outcome of any possible transaction between Prologis and SEGRO, including the possibility that SEGRO will continue to reject any proposed transaction with Prologis; (ii) uncertainties as to whether SEGRO will cooperate with Prologis regarding any proposed transaction; (iii) the effect of the announcement of any proposed transaction on the ability of Prologis and SEGRO to operate their respective businesses and retain and hire key personnel and to maintain favourable business relationships; (iv) the timing of any proposed transaction; (v) the ability to satisfy closing conditions to the completion of any proposed transaction (including shareholder approvals); (vi) other risks related to the completion of any proposed transaction and actions related thereto; (vii) international, national, regional and local economic and political climates and conditions; (viii) changes in global financial markets, interest rates and foreign currency exchange rates; (ix) increased or unanticipated competition for Prologis' or SEGRO's properties; (x) risks associated with acquisitions, dispositions and development of properties, including the integration of the operations of significant real estate portfolios; (xi) maintenance of Real Estate Investment Trust ("REIT") status, tax structuring and changes in income tax laws and rates; (xii) availability of financing and capital, the levels of debt that Prologis and SEGRO maintain and their credit ratings; (xiii) risks related to Prologis' investments in and management of its co-investment ventures, including the ability to establish new co-investment ventures; (xiv) risks of doing business internationally, including currency risks; (xv) environmental uncertainties, including risks of natural disasters; (xvi) risks related to global pandemics; and (xvii) those additional factors discussed under Part I, Item 1A. Risk Factors in Prologis' Annual Report on Form 10-K for the year ended December 31, 2025. Prologis undertakes no duty to update any forward-looking statements appearing in this announcement except as may be required by law.Sources of information and bases of calculationTotal shareholder return equals the change in share price plus dividends received over the relevant time period. This data is as of 23 June 2026. Information sourced from FactSetPrologis European AUM is per the Prologis Q1 Earnings release taking the group AUM multiplied by the percentage of AUM that relates to the UK and Europe. Converted to GBPPrologis prior and committed UK investment is per Prologis public disclosuresOutperformance for selling shareholders relative to peers represents total shareholder returns, which assume reinvestment of common and special dividends since announcement date of respective acquisitions (30/04/2018 for DCT Industrial; 28/10/2019 for Liberty Property Trust; 13/06/2022 for Duke Realty) until 23/06/2026. Outperformance based on arithmetic average total shareholder return of the industrial real estate peers: EastGroup Properties, First Industrial, Rexford Industrial Realty, STAG Industrial, Terreno Realty and LXP Industrial Trust View original content to download multimedia:https://www.prnewswire.com/news-releases/creating-shareholder-value-through-a-possible-prologis-and-segro-combination-302814149.htmlSOURCE Prologis, Inc. Original: Creating Shareholder Value Through a Possible Prologis and SEGRO Combination

Prologis Goes Public With £12.6 Billion Segro Proposal After Board Rejection (SGRO)June 24, 2026 6:56 AM
IH Market News U.S. logistics property group Prologis (NYSE:PLD) has publicly disclosed its £12.6 billion ($16.62 billion) takeover proposal for Segro (LSE:SGRO) after the UK warehouse owner rejected the approach, escalating pressure on the company’s board to enter formal discussions. The move represents the latest attempt by an overseas buyer to acquire a London-listed business, as lower UK market valuations continue to attract international interest and contribute to a record year for takeover activity in Britain. The announcement follows a similar strategy adopted by Castlelake, which recently made its approach for easyJet public after multiple unsuccessful attempts to engage with the airline’s board. Prologis Appeals Directly to Segro Shareholders Prologis argues that Segro’s shares have consistently traded below the company’s net asset value and that the business faces limitations in extracting the full value from its development projects and growing data centre pipeline, an area benefiting from rising artificial intelligence demand. “Prologis urges Segro shareholders to encourage the Segro board to engage with Prologis to allow a binding offer to be put to Segro shareholders for their consideration,” the company said in a statement outlining its all-share proposal. The disclosure prompted a sharp market reaction, with Segro shares jumping more than 20% to 892 pence, their highest level since September 2024. Segro Rejects Offer as Undervalued Segro responded by reaffirming its opposition to the proposal. The company stated that its board had “unanimously and unequivocally rejected the proposal, which falls a long way short of Segro’s own views on value”. Management also described the approach as “opportunistically timed”, suggesting the offer failed to reflect the company’s long-term prospects. Offer Values Segro at Book Value Under the terms of the proposal, Segro shareholders would receive 0.084 new Prologis shares for every Segro share held. Based on prevailing market prices, the offer values Segro at approximately 925 pence per share, representing a premium of around 25% to Tuesday’s closing price. However, the valuation broadly matches Segro’s most recently reported net asset value, offering little premium to book value. The proposal contrasts with several recent UK property transactions. Blackstone’s acquisition of Warehouse REIT was completed at a discount to book value, while the merger between Primary Health Properties and Assura was agreed at only a modest premium. “In our view Prologis would be reluctant to increase the offer materially and take it above NAV,” said Oli Creasey, head of property research at Quilter Cheviot. Analysts Question Whether Bid Reflects Future Growth Potential Industry observers note that Segro and Prologis already have significant overlap across key European logistics markets, including the UK, France and Germany. Panmure Liberum analyst Bjorn Zietsman questioned whether the current proposal “adequately compensates shareholders” for Segro’s future earnings potential, expected returns and broader asset portfolio. The analyst suggested investors may seek a higher valuation given the company’s development opportunities and exposure to expanding data centre demand. Prologis Has History of Value-Creating Acquisitions Prologis has built a strong reputation for acquiring logistics-focused real estate investment trusts and generating substantial returns from those transactions. The company has previously delivered returns of approximately 39% from Duke Realty, 97% from Liberty Property Trust and 166% from DCT Industrial following the announcement of those acquisitions. Under UK takeover regulations, Prologis must either submit a formal offer for Segro or withdraw its interest by July 22. The coming weeks are likely to determine whether shareholder pressure leads to negotiations or whether Segro continues to resist the approach. Prologis stock priceThe post Prologis Goes Public With £12.6 Billion Segro Proposal After Board Rejection (SGRO) appeared first on US Editors. Original: Prologis Goes Public With £12.6 Billion Segro Proposal After Board Rejection (SGRO)

Creating Shareholder Value Through a Possible SEGRO and Prologis CombinationJune 24, 2026 2:27 AM
PR Newswire (US) NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND DOES NOT CONSTITUTE A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE.SAN FRANCISCO, June 24, 2026 /PRNewswire/ -- Prologis, Inc. ("Prologis") announces that on 16 June 2026 it sent a letter to the Board of SEGRO plc ("SEGRO") setting out the terms of an indicative all-share proposal, pursuant to which Prologis would acquire the entire issued and to be issued share capital of SEGRO (the "Combination").On 23 June 2026, the Board of SEGRO unequivocally rejected the Combination proposal.Under the terms of the Combination, SEGRO shareholders would receive for each SEGRO share:0.084 new Prologis shares (the "Exchange Ratio")Based on the Prologis share price of $145.3 and a GBP:USD exchange rate of 1.32 in each case at market close on 23 June 2026, being the last trading day prior to this announcement, the Combination implies a value of 925 pence for each SEGRO share and values SEGRO's entire issued and to be issued ordinary share capital at approximately £12.6 billion, representing:a premium of 24.6 per cent to SEGRO's share price of 742 pence on 23 June 2026 (being the last trading day prior to this announcement);a premium of 26.7 per cent to the 1-month volume weighted average SEGRO share price of 730 pence as of 23 June 2026 (being the last trading day prior to this announcement);a premium of 31.4 per cent to the 3-month volume weighted average SEGRO share price of 704 pence as of 23 June 2026 (being the last trading day prior to this announcement); anda price equal to SEGRO's last reported EPRA NTA* per share of 925 pence as of 31 December 2025Following completion of the Combination, SEGRO shareholders would hold approximately 10.5 per cent of Prologis' issued share capital.Prologis believes that the Combination is a highly compelling opportunity for SEGRO shareholders. SEGRO shareholders would receive shares in the world's largest logistics REIT with a $140.9 billion market capitalisation, unlocking, on closing, significant upside to the current share price.Furthermore, the Combination provides SEGRO shareholders with participation in a global platform with a track record of outperformance across key metrics and the successful integration of major corporate transactions with the delivery of synergies. Prologis believes these factors will provide SEGRO shareholders with accelerated growth compared to the growth available to them in a standalone SEGRO.Prologis believes that its global platform, balance sheet strength and diversified capital base can unlock the significant embedded value of SEGRO's development and data center pipeline.Prologis also believes the Combination would deliver significant benefits to its customers, employees and Prologis shareholders.Clear Strategic Rationale and Value Creation Prologis believes that the Combination has clear strategic rationale and provides SEGRO shareholders with a compelling value proposition:Opportunity to Join Forces with the Global Leader in Logistics Real Estate Combination with Prologis will provide SEGRO shareholders with diversification into global growth marketsSEGRO and Prologis' European portfolios are highly complementary with an expected clear line of sight to scale benefitsResolves Structural Constraints Limiting SEGRO's Growth Potential SEGRO has traded at a persistent discount to its EPRA NTA per share with an average discount to EPRA NTA* of 19 per cent and 17 per cent over the last two years and three years, respectivelyPrologis has superior balance sheet strength with Net Debt / Enterprise Value of 22 per cent versus 37 per cent for SEGRO and Net Debt / Adjusted EBITDA of 4.8x versus 8.4x for SEGROPrologis' access to public equity, debt and private capital will enable Prologis to unlock embedded opportunities for investment for which Prologis believes SEGRO is unable to unlock standalone due to structural constraints, including its balance sheet capacity and trading discountAccelerates Monetisation of SEGRO's Development, Power and Data Center OpportunitiesPrologis anticipates that its platform, balance sheet strength and significant access to capital can unlock the significant embedded value of SEGRO's development and data center pipeline in a way that SEGRO will not be able to do on a standalone basisPrologis has the scale, capital, and execution capabilities to fund and deliver SEGRO's pipelineValue Realisation at a Premium and Enhanced Growth for SEGRO ShareholdersSignificant share price premium while retaining an interest in a stronger combined entityPrologis has outperformed SEGRO on total shareholder return over both 3 and 5 years (37 per cent and 39 per cent, respectively) leading its peer group average and significantly exceeding SEGRO's total shareholder return (3 year: 19 per cent; 5 years: negative 20 per cent.)Prologis' Proven Stewardship of Shareholder Capital and Strong M&A Integration Track Record Prologis' history of achieving cost and revenue synergies underscores the strength of the platform and successful integrationConsistent with this track record, shareholders of the enlarged group can anticipate significant synergies from the CombinationPrologis urges SEGRO shareholders to encourage the SEGRO Board to engage with Prologis to allow a binding offer to be put to SEGRO shareholders for their consideration.There can be no certainty that an offer for SEGRO will be made. A further announcement will be made as appropriate.Important Code NotesIn accordance with Rule 2.6(a) of the Code, Prologis is required, by not later than 5:00 pm (London time) on 22 July 2026, to either announce a firm intention to make an offer for SEGRO in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for SEGRO, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may only be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.In accordance with Rule 2.5(a) of the Code, Prologis reserves the right to vary the form and/or mix of consideration as set out in this announcement and/or introduce other forms of consideration. Prologis reserves the right to make an offer for SEGRO at a lower value and/or on less favourable terms than those described in this announcement: (a) with the agreement or recommendation of the Board of SEGRO; (b) if a third party announces a possible or a firm intention to make an offer for SEGRO which, at that date, is of a value less than the value implied by the Combination; or (c) following the announcement by SEGRO of a Rule 9 waiver transaction pursuant to Appendix 1 of the Code or a reverse takeover (as defined in the Code). If after the date of this announcement SEGRO declares, makes or pays any dividend or distribution or other return of capital to its shareholders, Prologis reserves the right to make an equivalent reduction to terms of the Combination or an equalisation dividend to a common date.*EPRA NTA is not calculated from a valuation of SEGRO's assets under Rule 29 of the Takeover Code. It is sourced from SEGRO's 31 December 2025 audited financial statements. At the relevant point, a valuation of SEGRO's assets will be published by SEGRO in accordance with Rule 29 of the Takeover Code.Linklaters LLP is retained as legal adviser to Prologis.Further informationN.M. Rothschild & Sons Limited ("Rothschild & Co"), which is authorised and regulated by the Financial Conduct Authority (the "FCA") in the United Kingdom and J.P. Morgan Securities LLC, together with its affiliate J.P. Morgan Securities plc (which conducts its UK investment banking business as J.P. Morgan Cazenove and which is authorised in the United Kingdom by the Prudential Regulation Authority ("PRA") and regulated in the United Kingdom by the PRA and the FCA) (together "J.P. Morgan"), and Eastdil Secured International Limited ("Eastdil Secured" or "ESI") which is authorised and regulated by the Financial Conduct Authority (the "FCA") in the United Kingdom are acting exclusively for Prologis and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Prologis for providing the protections afforded to their clients or for providing advice in connection with the subject matter of this announcement. This announcement is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction.The release, publication or distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe such restrictions. Any failure to comply with such restrictions may constitute a violation of the securities law of any such jurisdiction.Disclosure requirements of the CodeUnder Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.Rule 2.4 informationIn accordance with Rule 2.4(c)(iii) of the Code, Prologis confirms that it is not aware of any dealings in SEGRO shares that would require it to offer a minimum level, or a particular form, of consideration under Rule 6 or Rule 11 of the Code. However, it has not been practicable for Prologis to make enquiries of all persons acting in concert with it prior to the date of this announcement in order to confirm whether any details are required to be disclosed under Rule 2.4(c)(iii) of the Code. To the extent that any such details are identified following such enquiries, Prologis will make an announcement disclosing such details as soon as practicable, and in any event by no later than the time it is required to make its Opening Position Disclosure under Rule 8.1 of the Code.Rule 2.9 informationIn accordance with Rule 2.9 of the Code, Prologis confirms that, as of the date of this announcement, it has issued and outstanding 932,983,938 shares of common stock at par value of $0.01 per share. Prologis does not hold any of its common stock in treasury. The International Securities Identification Number (ISIN) of the shares of common stock is US74340W1036. The Legal Entity Identifier (LEI) for Prologis is 529900DFH19P073LZ636.Publication on WebsiteIn accordance with Rule 26.1 of the Code, a copy of this announcement will be available subject to certain restrictions relating to persons resident in restricted jurisdictions on Prologis' website at https://ir.prologis.com/ promptly and in any event by no later than 12 noon (London time) on 25 June 2026. The content of this website is not incorporated into and does not form part of this announcement.Forward-Looking StatementsThe statements in this announcement that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which Prologis and SEGRO operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact Prologis' or SEGRO's financial results. Words such as "expects," "anticipates," "intends," "believes," "would", "could", "should" and "estimates," including variations of such words and similar expressions, are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that Prologis expects or anticipates will occur in the future – including statements relating to any possible transaction between Prologis and SEGRO , rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where Prologis and SEGRO operate, expectations regarding new lines of business, Prologis' and SEGRO's debt, capital structure and financial position, Prologis' ability to earn revenues from co-investment ventures or form new co-investment ventures and the availability of capital in existing or new co-investment ventures – are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although Prologis believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, Prologis can give no assurance that its expectations will be attained, and therefore actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) the ultimate outcome of any possible transaction between Prologis and SEGRO, including the possibility that SEGRO will reject any proposed transaction with Prologis; (ii) uncertainties as to whether SEGRO will cooperate with Prologis regarding any proposed transaction; (iii) the effect of the announcement of any proposed transaction on the ability of Prologis and SEGRO to operate their respective businesses and retain and hire key personnel and to maintain favourable business relationships; (iv) the timing of any proposed transaction; (v) the ability to satisfy closing conditions to the completion of any proposed transaction (including shareholder approvals); (vi) other risks related to the completion of any proposed transaction and actions related thereto; (vii) international, national, regional and local economic and political climates and conditions; (viii) changes in global financial markets, interest rates and foreign currency exchange rates; (ix) increased or unanticipated competition for Prologis' or SEGRO's properties; (x) risks associated with acquisitions, dispositions and development of properties, including the integration of the operations of significant real estate portfolios; (xi) maintenance of Real Estate Investment Trust ("REIT") status, tax structuring and changes in income tax laws and rates; (xii) availability of financing and capital, the levels of debt that Prologis and SEGRO maintain and their credit ratings; (xiii) risks related to Prologis' investments in and management of its co-investment ventures, including ability to establish new co-investment ventures; (xiv) risks of doing business internationally, including currency risks; (xv) environmental uncertainties, including risks of natural disasters; (xvi) risks related to global pandemics; and (xvii) those additional factors discussed under Part I, Item 1A. Risk Factors in Prologis' Annual Report on Form 10-K for the year ended December 31, 2025. Prologis undertakes no duty to update any forward-looking statements appearing in this announcement except as may be required by law.Non-GAAP MeasuresThis announcement includes certain terms and non-GAAP financial measures that are not specifically defined herein. These terms and financial measures for Prologis are defined and, in the case of the non-GAAP financial measures, reconciled to the most directly comparable GAAP measures, in Prologis' quarterly Earnings Release and Supplemental Information that is available on Prologis' investor relations website at www.ir.prologis.com and on the SEC's website at www.sec.gov.Sources of information and bases of calculationShare price and volume weighted average share price data is derived from FactSetGBP:USD exchange rate of 1.3196 is derived from Chatham Financial as of 23 June 2026The value attributed to SEGRO's issued share capital (and therefore the value of the Combination) is based upon fully diluted share capital of 1,361,127,593 SEGRO ordinary shares of 10 pence each, comprising:1,353,927,858 ordinary shares in issue as of 29 May 2026 as announced by SEGRO pursuant to the FCA's Disclosure Guidance and Transparency Rules (with no shares held in treasury); and7,199,735 shares relating to SEGRO's share schemes, derived from SEGRO's public filings. This figure is net of shares held by the SEGRO Employee Benefit TrustPrologis' issued share capital is based upon fully diluted share capital of 970,140,938 shares at par value of $0.01 per share, comprising:932,983,938 shares of common stock at par value of $0.01 per share; and37,157,000 shares relating to Prologis' share schemes, derived from Prologis' public filings.Discount to EPRA NTA is calculated as the see-through value of the offer at the Exchange Ratio divided by the SEGRO last reported EPRA NTA at 31 December 2025 of 925 pence per sharePrologis' market capitalisation is calculated based on the share price at market close on 23 June 2026 of $145.3 multiplied by Prologis' fully diluted share count of 970,140,938 sharesSEGRO's shareholding in the enlarged group is calculated as (i) newly issued Prologis shares of 114,334,718 (calculated as 1,361,127,593 SEGRO shares multiplied by the Exchange Ratio); divided by (ii) the enlarged group issued share capital of 1,084,475,656 (equal to the existing Prologis fully diluted issued share capital of 970,140,938 plus the newly issued shares of 114,334,718)Enterprise value used for Net Debt / Enterprise Value sourced from FactSet at market close on 23 June 2026Total shareholder return equals the change in share price plus dividends received over the relevant time period. This data is as of 23 June 2026. Information sourced from FactSetSEGRO EPRA NTA sourced from SEGRO's 2025 Annual Report and Accounts, with prior years' EPRA NTA sourced from its 2024 and 2023 Annual Report and Accounts and its 2024 and 2023 interim resultsSEGRO Net Debt and Net Debt / Adjusted EBITDA sourced from 2025 annual results announcement released on 20 February 2026Prologis financial information extracted from Prologis' 2026 Q1 Earnings Release published on 16 April 2026Prologis Net Debt and Net Debt / Adjusted EBITDA sourced from Prologis' 2026 Q1 Earnings Release published on 16 April 2026   View original content to download multimedia:https://www.prnewswire.com/news-releases/creating-shareholder-value-through-a-possible-segro-and-prologis-combination-302808887.htmlSOURCE Prologis, Inc. Original: Creating Shareholder Value Through a Possible SEGRO and Prologis Combination

Prologis to Announce Second Quarter 2026 Results July 16, 2026June 4, 2026 4:30 PM
PR Newswire (US) SAN FRANCISCO, June 4, 2026 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD) will host a webcast and conference call with senior management to discuss its second quarter results, current market conditions and future outlook on Thursday, July 16, 2026, at 9:00 a.m. PT/12:00 p.m. ET.To access a live broadcast of the call, please dial +1 (877) 897-2615 (toll-free from the United States and Canada) or +1 (201) 689-8514 (from all other countries). A live webcast can be accessed from the Investor Relations section of www.prologis.com.A telephonic replay will be available July 16 - July 30 at +1 (877) 660-6853 (from the United States and Canada) or +1 (201) 612-7415 (from all other countries) using access code 13757425. The webcast replay will be posted in the Investor Relations section of www.prologis.com under "Events & Presentations."About Prologis
The world runs on logistics. At Prologis, we don't just lead the industry, we define it. We create the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, our ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one–not just shaping the future of logistics but building what comes next. Learn more at Prologis.com.Forward-Looking Statements
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," and "estimates" including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where we operate, expectations regarding new lines of business, our debt, capital structure and financial position, our ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties, including the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law. View original content to download multimedia:https://www.prnewswire.com/news-releases/prologis-to-announce-second-quarter-2026-results-july-16-2026-302791931.htmlSOURCE Prologis, Inc. Original: Prologis to Announce Second Quarter 2026 Results July 16, 2026

Prologis to Participate in REITWeek 2026: Nareit's Investor ConferenceMay 28, 2026 4:30 PM
PR Newswire (US) SAN FRANCISCO, May 28, 2026 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD) today announced that Dan Letter, chief executive officer, and Tim Arndt, chief financial officer, will present at REITWeek 2026 on Tuesday, June 2, at 11:00 a.m. ET.Prologis' presentation will be broadcast live via audio webcast and an audio replay will be available thereafter. The live broadcast and replay can be accessed on https://ir.prologis.com/events-presentations.About Prologis
The world runs on logistics. At Prologis, we don't just lead the industry, we define it. We create the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, our ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one – not just shaping the future of logistics but building what comes next. Learn more at Prologis.com.Forward-Looking Statements
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," and "estimates" including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where we operate, expectations regarding new lines of business, our debt, capital structure and financial position, our ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties, including the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law.  View original content to download multimedia:https://www.prnewswire.com/news-releases/prologis-to-participate-in-reitweek-2026-nareits-investor-conference-302784990.htmlSOURCE Prologis, Inc. Original: Prologis to Participate in REITWeek 2026: Nareit's Investor Conference

PROLOGIS DECLARES QUARTERLY DIVIDENDApril 28, 2026 5:00 PM
PR Newswire (US)

SAN FRANCISCO, April 28, 2026 /PRNewswire/ -- The Board of Directors of Prologis, Inc. (NYSE: PLD) declared a regular cash dividend for the quarter ending June 30, 2026, on the following securities:A dividend of $1.07 per share of the company's common stock, payable on June 30, 2026, to common stockholders of record at the close of business on June 16, 2026; andA dividend of $1.0675 per share of the company's 8.54% Series Q Cumulative Redeemable Preferred Stock, payable on June 30, 2026, to Series Q stockholders of record at the close of business on June 16, 2026.ABOUT PROLOGIS
The world runs on logistics. At Prologis, we don't just lead the industry, we define it. We create the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, our ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one–not just shaping the future of logistics but building what comes next. Learn more at Prologis.com.FORWARD-LOOKING STATEMENTS
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," and "estimates" including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where we operate, expectations regarding new lines of business, our debt, capital structure and financial position, our ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties, including the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law.





View original content to download multimedia:https://www.prnewswire.com/news-releases/prologis-declares-quarterly-dividend-302756285.htmlSOURCE Prologis, Inc.

Original: PROLOGIS DECLARES QUARTERLY DIVIDEND

Prologis Reports First Quarter 2026 ResultsApril 16, 2026 8:00 AM
PR Newswire (US)

Delivers record leasing and scales data center platformSAN FRANCISCO, April 16, 2026 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD) today announced the following results for the quarter ended March 31, 2026:Net earnings per diluted share was $1.05 for the quarter compared with $0.63 for the corresponding period in 2025.Core funds from operations (Core FFO)* per diluted share was $1.50 for the quarter compared with $1.42 for the corresponding period in 2025.Core FFO, excluding Net Promote Income (Expense)* per diluted share was $1.52 for the quarter compared with $1.43 for the corresponding period in 2025."We delivered record lease signings of 64 million square feet in our logistics business this quarter, reflecting the strength of our platform and resilient customer demand," said Daniel S. Letter, chief executive officer of Prologis. "We also advanced our data center platform with $1.3 billion of build-to-suit development starts, and we are scaling digital infrastructure and energy to support our next phase of growth.""Through our Strategic Capital platform, new partnerships with GIC and La Caisse will expand our access to capital and enhance our ability to invest at scale while preserving balance sheet strength and financial flexibility," said Timothy D. Arndt, chief financial officer of Prologis. "Even amid an uncertain geopolitical environment, this combination of strong execution and capital strength underpins our increased Core FFO outlook."OPERATING PERFORMANCE  Owned & Managed1Q26Average Occupancy95.3 %Period End Occupancy95.3 %Leases Commenced (Operating and Development Portfolio)66.7 MSFRetention75.8 %
  ?  Prologis Share1Q26Average Occupancy95.4 %Cash Same Store NOI*8.8 %Net Effective Rent Change31.9 %Cash Rent Change16.8 %DEPLOYMENT ACTIVITYPrologis Share1Q26Acquisitions$268M     Weighted avg stabilized cap rate (excluding other real estate)4.7 %Development Stabilizations$1,113M     Estimated weighted avg yield7.6 %     Estimated weighted avg margin34.8 %     Estimated value creation$387M     % Build-to-suit47.5 %Development Starts$1,783M     Estimated weighted avg yield8.8 %     Estimated weighted avg margin32.0 %     Estimated value creation$571M     % Build-to-suit81.2 %Total Dispositions and Contributions$676MWeighted avg stabilized cap rate (excluding land, properties under development, and other real estate)5.1 %BALANCE SHEET STRENGTH & LIQUIDITY
During the quarter, the company:Closed, together with its co-investment ventures, an aggregate of $5.5 billion of debt at a weighted average interest rate of 3.7% and a weighted average term of 5.9 years. The activity included the extension of the maturity date of one of the company's $3.0 billion revolving line of credit.As of quarter-end:Total available liquidity was approximately $6.7 billion.Debt-to-Adjusted EBITDA* was 4.8x and debt as a percentage of total market capitalization was 23.8%.The weighted average interest rate on the company's share of total debt was 3.3%, with a weighted average term of 8.1 years.Forecasted earnings for 2026, 2027 and 2028 are 99%, 97% and 97%, respectively, in USD or hedged through derivative contracts and 96% of Prologis' equity was in USD.2026 GUIDANCE Prologis' guidance for net earnings is included in the table below as well as guidance for Core FFO*, which are reconciled in our supplemental information. 2026 GUIDANCEEarnings (per diluted share)  Previous CurrentNet earnings attributable to common stockholders$3.70 to $4.00$3.80 to $4.05Core FFO attributable to common stockholders/unitholders*$6.00 to $6.20$6.07 to $6.23Core FFO attributable to common stockholders/unitholders, excluding Net Promote Income (Expense)*$6.05 to $6.25$6.12 to $6.28
Operations - Prologis Share Previous Current Average occupancy94.75% to 95.75%95.00% to 95.75%Cash Same Store NOI*5.75% to 6.75%6.25% to 7.00%Net Effective Same Store NOI*4.25% to 5.25%4.75% to 5.50%
Strategic Capital (in millions)PreviousCurrentStrategic Capital revenue, excluding promote revenue$650 to $670$660 to $680Net Promote Income (Expense)1$(50)$(50)


G&A (in millions)PreviousCurrentGeneral & administrative expenses$500 to $520$510 to $525
Capital Deployment - Prologis Share (in millions)2PreviousCurrent Development stabilizations$2,250 to $2,750$2,250 to $2,750Development starts$3,000 to $4,000$3,500 to $4,500Acquisitions$1,000 to $1,500$1,000 to $1,500Contributions$1,500 to $2,000$1,750 to $2,250Dispositions$1,750 to $2,250$1,750 to $2,250Realized development gains$400 to $600$500 to $700Net promote expense relates to amortization of stock compensation issued to employees related to promote income recognized in prior periods.Inclusive of data centers.*This is a non-GAAP financial measure. See the Notes and Definitions in our supplemental information for further explanation and a reconciliation to the most directly comparable GAAP measure.The earnings guidance described above includes potential gains recognized from real estate transactions but excludes any future or potential foreign currency or derivative gains or losses as our guidance assumes constant foreign currency rates. In reconciling from net earnings to Core FFO*, Prologis makes certain adjustments, including but not limited to our share of real estate depreciation and amortization expense, gains (losses) recognized from real estate transactions and early extinguishment of debt, impairment charges, deferred taxes and unrealized gains or losses on foreign currency or derivative activity. The difference between the company's Core FFO* and net earnings guidance relates predominantly to these items. Please refer to our quarterly Supplemental Information, which is available on our Investor Relations website at https://ir.prologis.com and on the SEC's website at www.sec.gov for a definition of Core FFO* and other non-GAAP measures used by Prologis, along with reconciliations of these items to the closest GAAP measure for our results and guidance.April 16, 2026, CALL DETAILS 
The call will take place on Thursday, April 16, 2026, at 9:00 a.m. PT/12:00 p.m. ET. To access a live broadcast of the call, please dial +1 (877) 897-2615 (toll-free from the United States and Canada) or +1 (201) 689-8514 (from all other countries). A live webcast can be accessed from the Investor Relations section of www.prologis.com.A telephonic replay will be available April 16 - April 30 at +1 (877) 660-6853 (from the United States and Canada) or +1 (201) 612-7415 (from all other countries) using access code 13757425. The webcast replay will be posted in the Investor Relations section of www.prologis.com under "Events & Presentations."ABOUT PROLOGIS
The world runs on logistics. At Prologis, we don't just lead the industry, we define it. We create the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, our ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one–not just shaping the future of logistics but building what comes next. Learn more at Prologis.com.FORWARD-LOOKING STATEMENTS
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," and "estimates" including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where we operate, expectations regarding new lines of business, our debt, capital structure and financial position, our ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties, including the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law. dollars in millions, except per share/unit dataThree Months Ended March 31,


20262025Rental and other revenues$                             2,137$                             1,999Strategic capital revenues161141
Total revenues2,2982,140Net earnings attributable to common stockholders980592Core FFO attributable to common stockholders/unitholders*1,4401,356AFFO attributable to common stockholders/unitholders*1,4721,084Adjusted EBITDA attributable to common stockholders/unitholders*2,1781,771Estimated value creation from development stabilizations - Prologis Share387240Common stock dividends and common limited partnership unit distributions1,026965




Per common share - diluted:


Net earnings attributable to common stockholders$                               1.05$                               0.63
Core FFO attributable to common stockholders/unitholders*1.501.42
Core FFO attributable to common stockholders/unitholders, excluding Net Promote Income (Expense)*1.521.43
Business line reporting:



Real estate* 1.451.36

Strategic capital* 0.050.06

Core FFO attributable to common stockholders/unitholders*1.501.42

Realized development gains, net of taxes*0.300.03Dividends and distributions per common share/unit1.071.01




*This is a non-GAAP financial measure. Please see our Notes and Definitions for further explanation.

 in thousandsMarch 31, 2026
December 31, 2025Assets:


Investments in real estate properties:


Operating properties$                                                   80,875,731
$                                                   80,561,020Development portfolio2,492,161
3,019,009Land4,684,949
4,888,153Other real estate investments7,188,604
6,661,174
95,241,445
95,129,356Less accumulated depreciation15,298,353
14,729,149Net investments in real estate properties79,943,092
80,400,207Investments in and advances to unconsolidated entities11,241,723
11,093,936Assets held for sale or contribution499,799
203,344Net investments in real estate91,684,614
91,697,487



Cash and cash equivalents861,144
1,145,647Other assets5,587,693
5,881,122Total assets$                                                   98,133,451
$                                                   98,724,256



Liabilities and Equity:


Liabilities:


Debt $                                                   34,669,592
$                                                   35,037,073Accounts payable, accrued expenses and other liabilities5,515,367
5,933,175Total liabilities40,184,959
40,970,248



Equity:


Stockholders' equity53,503,401
53,193,178Noncontrolling interests3,316,274
3,316,713Noncontrolling interests - limited partnership unitholders1,128,817
1,244,117Total equity57,948,492
57,754,008



Total liabilities and equity$                                                   98,133,451
$                                                   98,724,256 
Three Months Ended
March 31,in thousands, except per share amounts20262025Revenues:

Rental$                    2,125,084$                    1,987,265Strategic capital 160,812141,139Development management and other 11,82711,261Total revenues2,297,7232,139,665


Expenses:

Rental 520,283488,317Strategic capital 81,88960,777General and administrative 126,890114,701Depreciation and amortization731,506652,058Other10,1239,649Total expenses1,470,6911,325,502


Operating income before gains on real estate transactions, net$                       827,032$                       814,163Gains on dispositions of development properties and land, net292,98327,451Gains on other dispositions of investments in real estate, net91,04036,799Operating income$                    1,211,055$                       878,413Other income (expense):

Earnings from unconsolidated entities, net93,29667,899Interest expense(254,286)(231,751)Foreign currency, derivative and other gains (losses) and other income (expense), net44,611(31,658)Gains (losses) on early extinguishment of debt, net(1,890)—Total other income (expense)(118,269)(195,510)


Earnings before income taxes1,092,786682,903Current income tax benefit (expense)(47,781)(36,701)Deferred income tax benefit (expense)(190)(6,682)Consolidated net earnings1,044,815639,520Net earnings attributable to noncontrolling interests(39,978)(31,576)Net earnings attributable to noncontrolling interests - limited partnership units(22,861)(14,991)Net earnings attributable to controlling interests981,976592,953Preferred stock dividends(1,500)(1,452)Net earnings attributable to common stockholders $                       980,476$                       591,501Weighted average common shares outstanding - Diluted957,561956,080Net earnings per share attributable to common stockholders - Diluted$                             1.05$                             0.63 
Three Months Ended
March 31,in thousands20262025





Net earnings attributable to common stockholders$                       980,476$                        591,501Add (deduct) NAREIT defined adjustments:

Real estate related depreciation and amortization705,550632,686Gains on other dispositions of investments in real estate, net of taxes (excluding development properties and land)(91,040)(35,807)Adjustments related to noncontrolling interests(10,737)(18,407)Our proportionate share of adjustments related to unconsolidated entities151,155150,624


NAREIT defined FFO attributable to common stockholders/unitholders*$                    1,735,404$                     1,320,597


Add (deduct) our modified adjustments:

Unrealized foreign currency, derivative and other losses (gains), net(14,269)54,898Deferred income tax expense (benefit)1906,682Adjustments related to noncontrolling interests712—Our proportionate share of adjustments related to unconsolidated entities(725)1,371FFO, as modified by Prologis attributable to common stockholders/unitholders*$                    1,721,312$                     1,383,548


Add (deduct) Core FFO defined adjustments:

Gains on dispositions of development properties and land, net(292,983)(27,451)Current income tax expense (benefit) on dispositions1,302144Losses (gains) on early extinguishment of debt, net1,890—Adjustments related to noncontrolling interests27173Our proportionate share of adjustments related to unconsolidated entities8,701(283)


Core FFO attributable to common stockholders/unitholders*$                    1,440,493$                     1,356,031


Add (deduct) AFFO defined adjustments:

Gains on dispositions of development properties and land, net292,98327,451Current income tax benefit (expense) on dispositions(1,302)(144)Straight-lined rents and amortization of lease intangibles(165,749)(180,361)Property improvements(26,065)(34,367)Turnover costs(123,816)(123,123)Amortization of debt discount, financing costs and management contracts, net21,40021,112Stock compensation amortization expense60,63253,161Adjustments related to noncontrolling interests19,62813,982Our proportionate share of adjustments related to unconsolidated entities(46,311)(49,819)AFFO attributable to common stockholders/unitholders*$                    1,471,893$                     1,083,923


*This is a non-GAAP financial measure. Please see our Notes and Definitions for further explanation. 
Three Months Ended
March 31,in thousands20262025


Net earnings attributable to common stockholders$                        980,476$                       591,501Gains on other dispositions of investments in real estate, net (excluding development properties and land)(91,040)(36,799)Depreciation and amortization expense731,506652,058Interest charges237,908215,650Current and deferred income tax expense, net47,97143,383Net earnings attributable to noncontrolling interests - limited partnership units22,86114,991NOI adjustments for real estate transactions9,2647,829Preferred stock dividends1,5001,452Unrealized foreign currency, derivative and other losses (gains), net(14,269)54,898Stock compensation amortization expense60,63253,161Losses (gains) on early extinguishment of debt, net1,890—Adjustments related to noncontrolling interests(33,544)(33,850)Our proportionate share of adjustments related to unconsolidated entities222,879207,162Adjusted EBITDA attributable to common stockholders/unitholders*$                     2,178,034$                    1,771,436


*This is a non-GAAP financial measure. Please see our Notes and Definitions for further explanation. Adjusted EBITDA. We use Adjusted EBITDA attributable to common stockholders/unitholders ("Adjusted EBITDA"), a non-GAAP financial measure, as a measure of our operating performance. The most directly comparable GAAP measure is net earnings.We believe Adjusted EBITDA provides relevant and useful information by offering insight into our operating performance before the effects of financing decisions, income taxes, and certain non-cash or non-recurring charges.We calculate Adjusted EBITDA by beginning with consolidated net earnings attributable to common stockholders and removing the effect of:gains or losses from the disposition of investments in real estate (excluding development properties and land);depreciation and amortization expense;impairment charges;interest charges;current and deferred income taxes;preferred stock dividends;unrealized gains or losses on foreign currency and derivatives;stock compensation amortization expense;gains from the revaluation of equity investments upon acquisition of a controlling interest; andgains or losses on early extinguishment of debt and derivative contracts (including cash charges).We also include an adjustment to reflect a full period of NOI on the operating properties we acquire or stabilize during the quarter and to remove NOI on properties we dispose of during the quarter, assuming all transactions occurred at the beginning of the quarter. For properties we contribute, we make an adjustment to reflect NOI at the new ownership percentage for the full quarter.We calculate Adjusted EBITDA based on our proportionate ownership share of both our unconsolidated entities and consolidated ventures. We reflect our share of Adjusted EBITDA measures for unconsolidated entities by applying our average ownership percentage for the period to the applicable adjusting items on an entity-by-entity basis. We reflect our share for consolidated ventures in which we do not own 100% of the equity by removing the noncontrolling interests share of the applicable adjustments based on our average ownership percentage for the applicable periods.While we believe Adjusted EBITDA is an important supplemental measure, it should not be used alone as it excludes significant components of net earnings computed under GAAP and is therefore limited as an analytical tool. We do not use Adjusted EBITDA as an alternative measure to net earnings computed under GAAP or as an alternative to cash from operating activities computed under GAAP or as an indicator of our ability to fund our cash needs. Our computation of Adjusted EBITDA may not be comparable to EBITDA reported by other companies in both the real estate industry and other industries. We compensate for the limitations of Adjusted EBITDA by providing investors with financial statements prepared according to GAAP, along with this detailed discussion of Adjusted EBITDA and a reconciliation to Adjusted EBITDA from consolidated net earnings attributable to common stockholders.Business Line Reporting is a non-GAAP financial measure. Core FFO and development gains are generated by our three lines of business: (i) real estate operations; (ii) strategic capital; and (iii) development. The real estate operations line of business represents total Prologis Core FFO, less the amount allocated to the strategic capital line of business. The amount of Core FFO allocated to the strategic capital line of business represents the third-party share of asset management fees and transactional fees that we earn from our consolidated and unconsolidated co-investment ventures less costs directly associated with our strategic capital group and Net Promote Income (Expense). Realized development gains include our share of gains on dispositions of development properties and land, net of taxes. To calculate the per share amount, the amount generated by each line of business is divided by the weighted average diluted common shares outstanding used in our Core FFO per share calculation. Management believes evaluating our results by line of business is a useful supplemental measure of our operating performance because it helps the investing public compare the operating performance of Prologis' respective businesses to other companies' comparable businesses. Prologis' computation of FFO by line of business may not be comparable to that reported by other real estate companies as they may use different methodologies in computing such measures.Calculation of Per Share Amounts


Three Months Ended
Mar. 31,in thousands, except per share amount20262025Net earnings

Net earnings attributable to common stockholders$       980,476$        591,501Noncontrolling interest attributable to exchangeable limited partnership units 23,02714,991Adjusted net earnings attributable to common stockholders - Diluted$     1,003,503$       606,492Weighted average common shares outstanding - Basic931,261927,338Incremental weighted average effect on exchange of limited partnership units         21,97923,501Incremental weighted average effect of equity awards 4,3215,241Weighted average common shares outstanding - Diluted957,561956,080Net earnings per share - Basic$          1.05$           0.64Net earnings per share - Diluted$          1.05$           0.63
Three Months Ended
Mar. 31,in thousands, except per share amount20262025Core FFO

Core FFO attributable to common stockholders/unitholders$      1,440,493$      1,356,031Noncontrolling interest attributable to exchangeable limited partnership units 232294Core FFO attributable to common stockholders/ unitholders - Diluted $      1,440,725$      1,356,325Less: Net Promote Income (Expense)(12,382)(10,893)Core FFO attributable to common stockholders/ unitholders, excluding Net
Promote Income (Expense) - Diluted $      1,453,107$      1,367,218Weighted average common shares outstanding - Basic931,261927,338Incremental weighted average effect on exchange of limited partnership units 21,97923,779Incremental weighted average effect of equity awards 4,3215,241Weighted average common shares outstanding - Diluted957,561956,358Core FFO per share - Diluted $           1.50$           1.42Core FFO per share, excluding Net Promote Income (Expense) - Diluted $           1.52$           1.43Development Portfolio includes industrial and non-industrial properties, data centers, yards and parking lots that are under development and properties that are developed but have not met Stabilization. At March 31, 2026, total TEI for yards, parking lots, data centers and non-industrial assets was $2.0 billion on an Owned and Managed and $1.9 billion on a Prologis Share basis. We do not disclose square footage for yards and parking lots.Estimated Value Creation represents the value that we expect to create through our development and leasing activities. We calculate Estimated Value Creation by estimating the Stabilized NOI that the property will generate and applying a stabilized capitalization rate applicable to that property. Estimated Value Creation is calculated as the amount by which the value exceeds our TEI, including closing costs and taxes, if any, and does not include any fees or promotes we may earn. Estimated Weighted Average Margin is calculated on development properties as Estimated Value Creation, less estimated closing costs and taxes, if any, on properties expected to be sold or contributed, divided by TEI.Estimated Weighted Average Stabilized Yield is calculated on the properties in the Development Portfolio as Stabilized NOI divided by TEI. The yields on a Prologis Share basis were as follows:
Pre-Stabilized Developments2026 Expected Completion2027 and Thereafter Expected
CompletionTotal Development PortfolioU.S.5.8 %6.6 %8.6 %7.7 %Other Americas6.5 %9.0 %7.5 %7.1 %Europe5.3 %5.4 %5.6 %5.4 %Asia7.4 %6.2 %4.6 %5.5 %Total 6.2 %6.2 %8.0 %7.0 %FFO, as modified by Prologis attributable to common stockholders/unitholders ("FFO, as modified by Prologis"); Core FFO attributable to common stockholders/unitholders ("Core FFO"); AFFO attributable to common stockholders/unitholders ("AFFO"); (collectively referred to as "FFO"). FFO is a non-GAAP financial measure that is commonly used in the real estate industry, with net earnings as the most directly comparable GAAP measure.The National Association of Real Estate Investment Trusts ("NAREIT") defines FFO as earnings computed under GAAP to exclude depreciation and gains and losses from sales net of any related tax, along with impairment charges, of previously depreciated properties. We exclude the gains on revaluation of equity investments upon acquisition of a controlling interest and the gain recognized from a partial sale of our investment, as these are similar to gains from the sales of previously depreciated properties. This measure excludes similar adjustments from our unconsolidated entities and the third parties' share of our consolidated ventures.Our FFO MeasuresOur FFO measures begin with NARElT's definition, with certain adjustments to calculate FFO, as modified by Prologis, and Core FFO, both as defined below, to reflect our business and execution of our management strategy. While these adjustments are subject to significant fluctuations from period to period, with both positive and negative short-term impacts, the removal of the effects of these items enhances our understanding of the core operating performance of our properties over the long term.We use FFO, as modified by Prologis, so that management, analysts and investors are able to evaluate our performance against other REITs that do not have similar operations or operations in jurisdictions outside the U.S. We use both Core FFO and AFFO to (i) assess our operating performance as compared to other real estate companies; (ii) evaluate our performance and the performance of our properties in comparison with expected results and results of previous periods; (iii) evaluate the performance of our management; (iv) budget and forecast future results to assist in the allocation of resources; (v) provide guidance to the financial markets to understand our expected operating performance; and (vi)  evaluate how a specific potential investment will impact our future results.We calculate our FFO measures based on our proportionate ownership share of both our unconsolidated entities and consolidated ventures. We reflect our share of our FFO measures for unconsolidated entities by applying our average ownership percentage for the period to the applicable adjustments on an entity-by-entity basis. We reflect our share for consolidated ventures in which we do not own 100% of the equity by removing the noncontrolling interests share of the applicable adjustments based on our average ownership percentage for the applicable periods.FFO, as modified by PrologisTo arrive at FFO, as modified by Prologis, we adjust the NAREIT defined FFO measure to exclude:deferred income tax benefits and deferred income tax expenses recognized by our subsidiaries;current income tax expense related to acquired tax liabilities that were recorded as deferred tax liabilities in an acquisition, to the extent the expense is offset with a deferred income tax benefit  in earnings that is excluded from our defined FFO measure; andforeign currency exchange gains and losses resulting from (a) debt transactions between us and our foreign entities; (b) third-party debt that is used to hedge our investment in foreign entities; (c) derivative financial instruments related to any such debt transactions; and (d) mark-to-market adjustments associated with derivative and other financial instruments.Core FFOTo arrive at Core FFO, we adjust FFO, as modified by Prologis, to exclude the following:gains or losses from the disposition of land and development properties that were developed with the intent to contribute or sell;income tax expense related to the sale of investments in real estate;impairment charges recognized related to our investments in real estate generally as a result of our change in intent to contribute or sell these properties; andgains or losses from the early extinguishment of debt and redemption and repurchase of preferred stock.AFFOTo arrive at AFFO, we adjust Core FFO to include realized gains from the disposition of land and development properties, net of current tax expense, turnover costs and property improvements and exclude the following items that we recognize directly in Core FFO:straight-line rents;amortization of above- and below-market lease intangibles;amortization of management contracts;amortization of debt premiums and discounts and financing costs, net of amounts capitalized; andstock compensation amortization expense.Limitations on the use of our FFO measuresWhile we believe our modified FFO measures are important supplemental measures, neither NAREIT's nor our measures of FFO should be used alone because they exclude significant components of net earnings computed under GAAP and are, therefore, limited as an analytical tool. Some of these limitations arise from excluding income tax expense that may be payable or depreciation and amortization expenses that reflect costs necessary to maintain operating performance. In addition, our FFO measure does not reflect changes in asset values resulting from fluctuations in market conditions or foreign currency exchange rates nor costs or benefits from settlement of deferred income taxes or the extinguishment of debt. We do not use NAREIT's nor our measures of FFO as alternatives to net earnings computed under GAAP or as alternatives to cash from operating activities computed under GAAP or as indicators of our ability to fund our cash needs.We compensate for the limitations by using our FFO measures only in conjunction with net earnings computed under GAAP when making our decisions. This information should be read with our complete Consolidated Financial Statements prepared under GAAP. To assist investors in compensating for these limitations, we reconcile our modified FFO measures from consolidated net earnings attributable to common stockholders.Guidance. The following is a reconciliation of our annual guided Net Earnings per share to our guided Core FFO per share:
Low HighNet earnings attributable to common stockholders (a)$ 3.80$   4.05Our share of:

Depreciation and amortization3.223.28Net gains on real estate transactions, net of taxes(0.95)(1.10)Unrealized foreign currency losses (gains), losses (gains) on early    extinguishment of debt and other, net ——Core FFO attributable to common stockholders/unitholders$ 6.07$   6.23Less: Net Promote Income (Expense)(0.05)(0.05)Core FFO attributable to common stockholders/unitholders, excluding Net Promote
Income (Expense)$ 6.12$   6.28

(a)Earnings guidance includes potential future gains recognized from real estate transactions, but excludes future foreign currency or derivative gains or losses as these items are difficult to predict.Market Capitalization equals Market Equity, less liquidation preference of the preferred shares/units, plus our share of total debt.Net Promote Income (Expense) is promote revenue earned from third-party investors during the period, net of related cash and stock compensation expenses, and taxes and foreign currency derivative gains and losses, if applicable.Operating Portfolio represents industrial properties in our Owned and Managed portfolio that have reached Stabilization. Assets held for sale, Non-Strategic Assets and non-industrial assets are excluded from the portfolio. NOI of our Operating Portfolio excludes net termination fees and adjustments. Prologis Share of NOI includes NOI for the properties contributed to or acquired from co-investment ventures at our actual share prior to and subsequent to change in ownership. The U.S. markets not presented consist of Austin, Charlotte, Columbus, Denver, Louisville, Portland, Raleigh-Durham, Reno, San Antonio, Savannah and Tampa. The European countries not presented consist of Belgium, Czech Republic, Hungary, Italy, Poland, Slovakia, Spain and Sweden.Owned and Managed represents the consolidated properties as well as properties owned by our unconsolidated co-investment ventures, which we manage.Prologis Share represents our proportionate economic ownership of each entity, or property included in our total Owned and Managed portfolio, whether consolidated or unconsolidated.Rent Change (Cash) represents the percentage change in starting rental rates per the lease agreement, on new and renewed leases, commenced during the period compared with the previous ending rental rates in that same space. This measure excludes any short-term leases of less than one-year, holdover payments, free rent periods and introductory (teaser rates) defined as 50% or less of the stabilized rate.Rent Change (Net Effective) represents the percentage change in net effective rental rates (average rate over the lease term), on new and renewed leases, commenced during the period compared with the previous net effective rental rates for the same respective spaces. This measure excludes any short-term leases of less than one year and holdover payments.Retention is the square footage of all leases commenced during the period that are rented by existing tenants divided by the square footage of all expiring leases during the reporting period. The square footage of tenants that default or buy-out prior to expiration of their lease and short-term leases of less than one year, are not included in the calculation.Same Store. Our same store metrics are non-GAAP financial measures, which are commonly used in the real estate industry and expected from the financial community, on both a net effective and cash basis. We evaluate the performance of the operating properties we own and manage using a "same store" analysis because the population of properties in this analysis is consistent from period to period, which allows us and investors to analyze our ongoing business operations. We determine our same store metrics on property NOI, which is calculated as rental revenue less rental expense for the applicable properties in the same store population for both consolidated and unconsolidated properties based on our ownership interest, as further defined below.We define our same store population for the three months ended March 31, 2026 as the properties in our Owned and Managed Operating Portfolio, including the property NOI for both consolidated properties and properties owned by the unconsolidated co-investment ventures at January 1, 2025 and owned throughout the same three-month period in both 2025 and 2026.We 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 and therefore we evaluate the same store metrics of the Owned and Managed portfolio based on Prologis' ownership in the properties ("Prologis Share").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, 2025) and properties acquired or disposed of to third parties during the periods. To derive an appropriate measure of period- to-period operating performance, we remove the effects of foreign currency exchange rate movements by using the reported period-end exchange rate to translate from local currency into the U.S dollar, for both periods.As non-GAAP financial measures, the same store metrics have certain limitations as an analytical tool and may vary among real estate companies. As a result, we provide a reconciliation of Rental Revenues less Rental Expenses ("Property NOI") (from our Consolidated Financial Statements prepared in accordance with U.S GAAP) to our Same Store Property NOI measures, as follows:

Three Months Ended

Mar. 31,dollars in thousands20262025Change (%)Reconciliation of Consolidated Property NOI to Same Store Property NOI measures:


Rental revenues $   2,125,084$   1,987,265
Rental expenses(520,283)(488,317)
Consolidated Property NOI$   1,604,801$   1,498,948
Adjustments to derive same store results:



Property NOI from consolidated properties not included in same
     store portfolio and other adjustments (a)(150,967)(122,495)

Property NOI from unconsolidated co-investment ventures
     included in same store portfolio (a)(b)1,010,288956,327

Third parties' share of Property NOI from properties included in
     same store portfolio (a)(b)(785,354)(750,429)
Prologis Share of Same Store Property NOI - Net Effective (b)$   1,678,768$   1,582,3516.1 %
Consolidated properties straight-line rent and fair value lease
     amortization included in the same store portfolio (c)(134,307)(156,391)

Unconsolidated co-investment ventures straight-line rent and fair
     value lease amortization included in the same store portfolio (c)(45,957)(56,807)

Third parties' share of straight-line rent and fair value lease
      amortization included in the same store portfolio (b)(c)35,81041,376
Prologis Share of Same Store Property NOI - Cash (b)(c)$   1,534,314$   1,410,5298.8 %

(a) We exclude properties held for sale to third parties, along with development properties that were not stabilized at the beginning of the periods and properties acquired or disposed of to third parties during the periods. We also exclude one-time items due to early lease terminations, including termination fees received from customers and the write-off of related lease assets and liabilities, that are not indicative of the property's recurring operating performance in order to evaluate the growth or decline in each property's rental revenues. Same Store Property NOI is adjusted to include an allocation of property management expenses for our consolidated properties based on the property management services provided to each property (generally, based on a percentage of revenues). On consolidation, these amounts are eliminated and the actual costs of providing property management and leasing services are recognized as part of our consolidated rental expense.(b)We include the Property NOI for the same store portfolio for both consolidated properties and properties owned by the co-investment ventures based on our investment in the underlying properties. In order to calculate our share of Same Store Property NOI from the co-investment ventures in which we own less than 100%, we use the co-investment ventures' underlying Property NOI for the same store portfolio and apply our ownership percentage at March 31, 2026 to the Property NOI for both periods, including the properties contributed during the periods. We adjust the total Property NOI from the same store portfolio of the co-investment ventures by subtracting the third parties' share of both consolidated and unconsolidated co-investment ventures. During the periods presented, certain wholly owned properties were contributed to a co-investment venture and are included in the same store portfolio. Neither our consolidated results nor those of the co-investment ventures, when viewed individually, would be comparable on a same store basis because of the changes in composition of the respective portfolios from period to period (e.g. the results of a contributed property are included in our consolidated results through the contribution date and in the results of the venture subsequent to the contribution date based on our ownership interest at the end of the period). As a result, only line items labeled "Prologis Share of Same Store Property NOI" are comparable period over period.(c)We further remove certain noncash items (straight-line rent and fair value lease amortization) included in the financial statements prepared in accordance with U.S. GAAP to reflect a Same Store Property NOI - Cash measure.
We manage our business and compensate our executives based on the same store results of our Owned and Managed portfolio at 100% as we manage our portfolio on an ownership blind basis. We calculate those results by including 100% of the properties included in our same store portfolio.Stabilization is defined as the earlier of when a property that was developed has been completed for one year, is contributed to a co-investment venture following completion or is 90% occupied. Upon Stabilization, a property is moved into our Operating Portfolio.Total Expected Investment ("TEI") represents total estimated cost of development or expansion, including land, development and leasing costs. TEI is based on current projections and is subject to change.Weighted Average Interest Rate is based on the effective rate, which includes the amortization of related premiums and discounts and finance costs.Weighted Average Stabilized Capitalization ("Cap") Rate is calculated as Stabilized NOI divided by the Acquisition Price.





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Original: Prologis Reports First Quarter 2026 Results

La Caisse and Prologis Launch Pan-European Logistics Joint VentureApril 9, 2026 6:15 AM
PR Newswire (US)

A EUR 1 billion seed portfolio in logistics assets across France, Germany, the Netherlands, Sweden and the UK will anchor the launch of the joint venture.La Caisse will hold 70% interest, with Prologis serving as operating partner and contributing asset management and development expertise.The platform will grow through disciplined acquisitions and development in Europe's core logistics markets.MONTRÉAL and SAN FRANCISCO, April 9, 2026 /PRNewswire/ -- La Caisse (formerly CDPQ), a global investment group, and Prologis, Inc. (NYSE: PLD) today announce an agreement to create Prologis Logistics Investment Venture Europe (PLIVE), a new pan–European joint venture focused on acquiring, developing and operating high-quality logistics properties.La Caisse and Prologis will hold 70% and 30% interests, respectively, with governance rights shared between the partners. Prologis will provide specialized asset management and development expertise as the operating partner of the platform.The PLIVE launch portfolio will provide immediate scale in Europe's key logistics corridors and a strong foundation for demand-led, long-term growth. This venture builds on an established relationship between the two firms dating back to 2019, when they formed a logistics joint venture in Brazil.With approximately EUR 1 billion in seed assets (CAD 1.6 billion), the platform will initially combine income-generating properties and development sites contributed by both partners. This will include approximately 844,000 square metres of Class A logistics space across France, Germany, the Netherlands, Sweden and the United Kingdom."We have seen Prologis' best-in-class capabilities to drive returns firsthand through our partnership in Brazil, and we are building on our combined strengths to create a truly consolidated pan-European platform. This joint venture brings together Prologis' deep hands-on operational expertise and our vision to actively transform assets to enhance long-term value," said Rana Ghorayeb, Executive Vice-President and Head of Real Estate at La Caisse. "Together, we will gain greater exposure to the European logistics sector, strengthen execution, and maximize the performance and scale of our logistics portfolio.""Our partnership with La Caisse is built on years of working together and delivering results," said Ted Eliopoulos, Managing Director, Strategic Capital, Prologis. "Together, we're expanding that success in Europe—combining long-term capital with our operating platform to scale high-quality logistics assets across key markets."The partners plan to expand the platform through acquisitions and development across key European logistics corridors, leveraging Prologis' sourcing, development and operating platform.While the PLIVE platform will benefit from a shared pipeline of opportunities, Prologis will manage the properties, including accelerating leasing and development, with major strategic and financial decisions made jointly. The joint venture reflects the companies' confidence in the long-term fundamentals of the European logistics sector, as companies reshape supply chains, move production closer to home and continue to invest in e-commerce.The transaction, expected to close in the second quarter of 2026, remains subject to customary closing conditions and regulatory approvals.Goldman Sachs & Co. LLC acted as exclusive financial advisor to La Caisse.ABOUT LA CAISSEAt La Caisse, formerly CDPQ, we have invested for 60 years with a dual mandate: generate optimal long-term returns for our 48 depositors, who represent over 6 million Quebecers, and contribute to Québec's economic development.As a global investment group, we're active in the major financial markets, private equity, infrastructure, real estate and private credit. As at December 31, 2025, La Caisse's net assets totalled CAD 517 billion. For more information, visit lacaisse.com or consult our LinkedIn or Instagram pages.La Caisse is a registered trademark of Caisse de dépôt et placement du Québec that is protected in Canada and other jurisdictions and licensed for use by its subsidiaries. 
ABOUT PROLOGIS STRATEGIC CAPITAL Strategic Capital is Prologis' asset management business, which invests alongside institutional partners in logistics real estate and generates durable fee-based revenue while expanding the company's global presence and leveraging its operating platform. The business manages $102 billion in assets, including $67 billion of third-party capital.ABOUT PROLOGISThe world runs on logistics. At Prologis, we don't just lead the industry, we define it. We create the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, our ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one–not just shaping the future of logistics but building what comes next. Learn more at Prologis.com.For more information
La Caisse
CONRAD HARRINGTON
+ 1 514 847-5493
charrington@lacaisse.com Prologis - San Francisco (Global)
JENNIFER NELSON
+1 415-733-9409
jnelson2@prologis.comPrologis - Amsterdam (European)
CIAN MAC EOCHAIDH
+31 62 168 9697
cmaceochaidh@prologis.com



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Original: La Caisse and Prologis Launch Pan-European Logistics Joint Venture

La Caisse et Prologis lancent une coentreprise logistique paneuropéenneApril 9, 2026 6:00 AM
PR Newswire (Canada)

Un portefeuille initial de 1 G€ dans des actifs logistiques en France, en Allemagne, aux Pays-Bas, en Suède et au Royaume-Uni marquera le lancement de la coentreprise.La Caisse détiendra une participation de 70 %, tandis que Prologis agira en tant que partenaire d'exploitation et apportera son expertise en gestion d'actifs et en développement.La plateforme prendra de l'expansion au moyen d'acquisitions et d'un développement rigoureux au sein des principaux marchés logistiques d'Europe.MONTRÉAL et SAN FRANCISCO, le 9 avril 2026 /CNW/ - La Caisse (anciennement CDPQ), un groupe mondial d'investissement, et Prologis, inc. (NYSE: PLD) annoncent aujourd'hui une entente visant la création de Prologis Logistics Investment Venture Europe (PLIVE), une nouvelle coentreprise paneuropéenne visant l'acquisition, le développement et l'exploitation de propriétés logistiques de grande qualité.La Caisse et Prologis détiendront respectivement une participation de 70 % et 30 %, les droits de gouvernance étant partagés entre les partenaires. Prologis apportera une expertise spécialisée en gestion d'actifs et en développement à titre de partenaire opérationnel de la plateforme.Le portefeuille initial de PLIVE offrira une envergure immédiate dans les principaux corridors logistiques européens, tout en constituant une assise solide pour une croissance disciplinée, portée par la demande. Le projet s'inscrit dans le prolongement d'un partenariat établi entre les deux sociétés depuis 2019, année où elles ont formé une première coentreprise logistique au Brésil.Avec un actif de démarrage d'environ 1 G€ (1,6 G$ CA), la plateforme regroupe dans un premier temps des immeubles générateurs de revenus ainsi que des sites en développement provenant des deux partenaires. L'ensemble représente environ 844 000 mètres carrés d'espaces logistiques de catégorie A répartis en France, en Allemagne, aux Pays-Bas, en Suède et au Royaume-Uni.« Nous avons constaté d'emblée l'expertise de pointe de Prologis et sa capacité à générer des rendements grâce à notre partenariat au Brésil, et nous misons sur la complémentarité de nos forces pour cette nouvelle plateforme paneuropéenne pleinement intégrée. Cette coentreprise conjugue l'expertise opérationnelle approfondie de Prologis et notre vision de transformer activement les actifs afin de créer de la valeur à long terme », a déclaré Rana Ghorayeb, première vice-présidente et cheffe de l'Immobilier à La Caisse. « Ensemble, nous accroîtrons notre exposition au secteur européen de la logistique, renforcerons notre capacité d'exécution et maximiserons la performance et l'envergure de notre portefeuille logistique. »« Notre partenariat avec La Caisse repose sur de nombreuses années de collaboration et de résultats concrets », a déclaré Ted Eliopoulos, directeur général, Capital stratégique, chez Prologis. « Ensemble, nous étendons ce succès en Europe, en combinant des capitaux à long terme à notre plateforme opérationnelle pour étendre des actifs logistiques de grande qualité dans des marchés d'importance. »Les partenaires prévoient d'élargir la plateforme par des acquisitions et des projets de développement dans les principaux corridors logistiques européens, en s'appuyant sur la plateforme d'approvisionnement, de développement et d'exploitation de Prologis.Bien que PLIVE bénéficie d'un bassin commun d'occasions d'investissement, Prologis assumera la gestion des propriétés, notamment la location et le développement, tandis que les principales décisions stratégiques et financières seront prises conjointement. Cette annonce illustre la confiance des deux partenaires à l'égard des paramètres fondamentaux à long terme du secteur logistique européen, à l'heure où les entreprises redéfinissent leurs chaînes d'approvisionnement mondiales, rapprochent la production de leurs marchés domestiques et poursuivent leurs investissements dans le commerce électronique.La clôture de la transaction devrait survenir au deuxième trimestre de 2026, sous réserve des conditions de clôture habituelles et des approbations réglementaires.Goldman Sachs & Co. LLC a agi à titre de conseiller financier exclusif de La?Caisse.À PROPOS DE LA CAISSEÀ La Caisse, auparavant connue sous la marque CDPQ, nous investissons depuis 60 ans avec un double mandat : celui de générer des rendements optimaux à long terme pour nos 48 déposants, qui représentent plus de 6 millions de Québécois(e)s, tout en contribuant au développement économique du Québec.Comme groupe mondial d'investissement, nous sommes actifs dans les grands marchés financiers, en placements privés, en infrastructures, en immobilier et en crédit privé. Au 31 décembre 2025, l'actif net de La Caisse s'élevait à 517 G$ CA. Pour en savoir plus, visitez le site lacaisse.com et consultez nos pages LinkedIn ou Instagram.La Caisse est une marque de commerce propriété de la Caisse de dépôt et placement du Québec, protégée au Canada et dans d'autres juridictions, et utilisée sous licence par ses filiales. À PROPOS DE PROLOGIS STRATEGIC CAPITAL Strategic Capital est l'unité de gestion des actifs de Prologis. Elle investit aux côtés de partenaires institutionnels dans l'immobilier logistique, générant des revenus durables fondés sur des services tarifés, tout en renforçant la présence internationale de la société et en tirant parti de sa plateforme opérationnelle. Prologis Strategic gère des actifs totalisant 102 G$, dont 67 G$ de capitaux de tiers.À PROPOS DE PROLOGIS La logistique fait tourner le monde. Chez Prologis, nous ne nous contentons pas de diriger l'industrie de l'immobilier logistique : nous en redéfinissons les standards. Nous développons des infrastructures modernes et intelligentes qui dynamisent le commerce mondial, en connectant harmonieusement les mondes numérique et physique. Des chaînes d'approvisionnement agiles aux solutions d'énergie propre, nos écosystèmes aident les entreprises à évoluer plus rapidement, à fonctionner plus intelligemment et à croître durablement. Avec une envergure, une innovation et une expertise reconnues, Prologis n'anticipe pas seulement le futur de la logistique : nous le construisons.Pour de plus amples informations
La Caisse
CONRAD HARRINGTON
+1 514 847-5493
medias@lacaisse.comPrologis - San Francisco (International)
JENNIFER NELSON
+1 415-733-9409
jnelson2@prologis.comPrologis - Amsterdam (Europe)
CIAN MAC EOCHAIDH
+31 62 168 9697
cmaceochaidh@prologis.comSOURCE La Caisse

Original: La Caisse et Prologis lancent une coentreprise logistique paneuropéenne

La Caisse and Prologis Launch Pan-European Logistics Joint VentureApril 9, 2026 6:01 AM
PR Newswire (Canada)

A EUR 1 billion seed portfolio in logistics assets across France, Germany, the Netherlands, Sweden and the UK will anchor the launch of the joint venture.La Caisse will hold 70% interest, with Prologis serving as operating partner and contributing asset management and development expertise.The platform will grow through disciplined acquisitions and development in Europe's core logistics markets.MONTRÉAL and SAN FRANCISCO, April 9, 2026 /CNW/ - La Caisse (formerly CDPQ), a global investment group, and Prologis, Inc. (NYSE: PLD) today announce an agreement to create Prologis Logistics Investment Venture Europe (PLIVE), a new pan–European joint venture focused on acquiring, developing and operating high-quality logistics properties.La Caisse and Prologis will hold 70% and 30% interests, respectively, with governance rights shared between the partners. Prologis will provide specialized asset management and development expertise as the operating partner of the platform.The PLIVE launch portfolio will provide immediate scale in Europe's key logistics corridors and a strong foundation for demand-led, long-term growth. This venture builds on an established relationship between the two firms dating back to 2019, when they formed a logistics joint venture in Brazil.With approximately EUR 1 billion in seed assets (CAD 1.6 billion), the platform will initially combine income-generating properties and development sites contributed by both partners. This will include approximately 844,000 square metres of Class A logistics space across France, Germany, the Netherlands, Sweden and the United Kingdom."We have seen Prologis' best-in-class capabilities to drive returns firsthand through our partnership in Brazil, and we are building on our combined strengths to create a truly consolidated pan-European platform. This joint venture brings together Prologis' deep hands-on operational expertise and our vision to actively transform assets to enhance long-term value," said Rana Ghorayeb, Executive Vice-President and Head of Real Estate at La Caisse. "Together, we will gain greater exposure to the European logistics sector, strengthen execution, and maximize the performance and scale of our logistics portfolio.""Our partnership with La Caisse is built on years of working together and delivering results," said Ted Eliopoulos, Managing Director, Strategic Capital, Prologis. "Together, we're expanding that success in Europe—combining long-term capital with our operating platform to scale high-quality logistics assets across key markets."The partners plan to expand the platform through acquisitions and development across key European logistics corridors, leveraging Prologis' sourcing, development and operating platform.While the PLIVE platform will benefit from a shared pipeline of opportunities, Prologis will manage the properties, including accelerating leasing and development, with major strategic and financial decisions made jointly. The joint venture reflects the companies' confidence in the long-term fundamentals of the European logistics sector, as companies reshape supply chains, move production closer to home and continue to invest in e-commerce.The transaction, expected to close in the second quarter of 2026, remains subject to customary closing conditions and regulatory approvals.Goldman Sachs & Co. LLC acted as exclusive financial advisor to La Caisse.ABOUT LA CAISSEAt La Caisse, formerly CDPQ, we have invested for 60 years with a dual mandate: generate optimal long-term returns for our 48 depositors, who represent over 6 million Quebecers, and contribute to Québec's economic development.As a global investment group, we're active in the major financial markets, private equity, infrastructure, real estate and private credit. As at December 31, 2025, La Caisse's net assets totalled CAD 517 billion. For more information, visit lacaisse.com or consult our LinkedIn or Instagram pages.La Caisse is a registered trademark of Caisse de dépôt et placement du Québec that is protected in Canada and other jurisdictions and licensed for use by its subsidiaries. 
ABOUT PROLOGIS STRATEGIC CAPITAL Strategic Capital is Prologis' asset management business, which invests alongside institutional partners in logistics real estate and generates durable fee-based revenue while expanding the company's global presence and leveraging its operating platform. The business manages $102 billion in assets, including $67 billion of third-party capital.ABOUT PROLOGISThe world runs on logistics. At Prologis, we don't just lead the industry, we define it. We create the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, our ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one–not just shaping the future of logistics but building what comes next. Learn more at Prologis.com.For more information
La Caisse
CONRAD HARRINGTON
+ 1 514 847-5493
charrington@lacaisse.com Prologis - San Francisco (Global)
JENNIFER NELSON
+1 415-733-9409
jnelson2@prologis.comPrologis - Amsterdam (European)
CIAN MAC EOCHAIDH
+31 62 168 9697
cmaceochaidh@prologis.com



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Original: La Caisse and Prologis Launch Pan-European Logistics Joint Venture

Prologis and GIC Form $1.6 billion U.S. Build-to-Suit Logistics Joint VentureMarch 19, 2026 8:30 AM
PR Newswire (US)

Partnership to Fund Build-to-Suit Distribution Projects Across Major U.S. MarketsSAN FRANCISCO and SINGAPORE, March 19, 2026 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD) and GIC, a leading global institutional investor, have formed a $1.6 billion joint venture to develop and own build-to-suit logistics facilities across major U.S. markets, the companies announced today.The new venture includes $1.6 billion in combined capital commitments, which includes an initial portfolio of approximately 4.1 million square feet with additional capacity for future investments. Prologis is the world's largest logistics real estate company, with 1.3 billion square feet of properties in 20 countries and $230 billion of assets under management."Build-to-suit activity continues to be one of the clearest signals of customer conviction across our business," said Daniel S. Letter, chief executive officer of Prologis. "This joint venture with GIC builds on that momentum by pairing our platform and development expertise with a partner that shares our long-term perspective."The venture combines Prologis' development and operating platform with long-term institutional capital and will operate within Prologis Strategic Capital, the company's asset management business. It is designed to scale with demand as customer commitments are secured."With strong e-commerce growth, the re-shoring of supply chains and resilient consumer spending, industrial remains a strong long-term investment theme in North America," said Goh Chin Kiong, chief investment officer of Real Estate, GIC. "Our partnership with Prologis, a best-in-class operator, reflects our shared conviction in the sector and likeminded approach to deploying capital with discipline across cycles."Long-Term Leases and Custom Design Drive Build-to-Suit Demand
Build-to-suit development has become a larger share of Prologis' pipeline as customers make long-term commitments to distribution networks and operations. In 2025, the company started $3.1 billion in development projects, with build-to-suit accounting for more than 60% of those starts.Build-to-suit has proven resilient as customers prioritize certainty around location, functionality and long-term occupancy. Facilities are increasingly designed to support automation, high throughput and proximity to end markets, which makes purpose-built development a practical solution for supply chains that keep evolving.For institutional investors, build-to-suit also offers a distinct risk profile. These projects are typically pre-leased and built for long-term use, often supported by customers that view the facility as mission-critical to their network.The joint venture reinforces Prologis Strategic Capital as a growth platform, enabling Prologis to invest alongside institutional partners while bringing its development, operating and customer capabilities to each partnership.About Prologis Strategic Capital 
Strategic Capital is Prologis' asset management business, which invests alongside institutional partners in logistics real estate and generates durable fee-based revenue while expanding the company's global presence and leveraging its operating platform. The business manages $102 billion in assets, including $67 billion of third-party capital.About Prologis
The world runs on logistics. At Prologis, we don't just lead the industry, we define it. We create the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, our ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one–not just shaping the future of logistics but building what comes next. Learn more at Prologis.com.About GIC
GIC is a leading global investment firm established in 1981 to secure Singapore's financial future. As the manager of Singapore's foreign reserves, we take a long-term, disciplined approach to investing. Our asset allocation strategy spans three asset groups – Equities, Fixed Income, and Real Assets. These include investments in developed and emerging market equities, nominal and inflation-linked bonds, private equity, real estate, alternatives, and infrastructure. We are headquartered in Singapore, with a global presence including a talent force of over 2,300 people in 11 key financial cities and investments in over 40 countries. We seek to add meaningful value to our investments and be an investor of choice by leveraging our long-term approach, multi-asset capabilities, and global connectivity.For more information, please visit www.gic.com.sg or follow us on LinkedIn and Instagram.  










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Original: Prologis and GIC Form $1.6 billion U.S. Build-to-Suit Logistics Joint Venture

Prologis to Announce First Quarter 2026 Results April 16, 2026March 5, 2026 4:30 PM
PR Newswire (US)

SAN FRANCISCO, March 5, 2026 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD) will host a webcast and conference call with senior management to discuss its first quarter results, current market conditions and future outlook on Thursday, April 16, 2026, at 9:00 a.m. PT/12:00 p.m. ET.To access a live broadcast of the call, please dial +1 (877) 897-2615 (toll-free from the United States and Canada) or +1 (201) 689-8514 (from all other countries). A live webcast can be accessed from the Investor Relations section of www.prologis.com.A telephonic replay will be available April 16 - April 30 at +1 (877) 660-6853 (from the United States and Canada) or +1 (201) 612-7415 (from all other countries) using access code 13757425. The webcast replay will be posted in the Investor Relations section of www.prologis.com under "Events & Presentations."About Prologis
The world runs on logistics. At Prologis, we don't just lead the industry, we define it. We create the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, our ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one–not just shaping the future of logistics but building what comes next. Learn more at Prologis.com.Forward-Looking Statements
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," and "estimates" including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where we operate, expectations regarding new lines of business, our debt, capital structure and financial position, our ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties, including the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law. 





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Original: Prologis to Announce First Quarter 2026 Results April 16, 2026

Prologis to Participate in Industry ConferencesFebruary 26, 2026 4:30 PM
PR Newswire (US)

SAN FRANCISCO, Feb. 26, 2026 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD) today announced that Dan Letter, chief executive officer, and Tim Arndt, chief financial officer, will present at the Citi 2026 Global Property CEO Conference on Monday, March 2, at 11:00 a.m. ET.Additionally, Tim Arndt will present at the Raymond James & Associates' 47th Annual Institutional Investors Conference on Tuesday, March 3, at 8:40 a.m. ET.Both of Prologis' presentations will broadcast live via audio webcast and an audio replay will be available thereafter. The live broadcast, replay, and presentation materials can be accessed on https://ir.prologis.com/events-presentations.About Prologis
The world runs on logistics. At Prologis, we don't just lead the industry, we define it. We create the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, our ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one–not just shaping the future of logistics but building what comes next. Learn more at Prologis.com.Forward-Looking Statements
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," and "estimates" including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where we operate, expectations regarding new lines of business, our debt, capital structure and financial position, our ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties, including the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law. 





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Original: Prologis to Participate in Industry Conferences

Prologis Board of Directors Approves 6 Percent Increase in Quarterly Common Stock DividendFebruary 12, 2026 5:30 PM
PR Newswire (US)

SAN FRANCISCO, Feb. 12, 2026 /PRNewswire/ -- The Board of Directors of Prologis, Inc. (NYSE: PLD) today approved a plan to raise the company's annualized dividend by 6% to $4.28 per share of common stock.The board declared a regular cash dividend for the quarter ending March 31, 2026, on the following securities:A dividend of $1.07 per share of the company's common stock, payable on March 31, 2026, to common stockholders of record at the close of business on March 17, 2026; andA dividend of $1.0675 per share of the company's 8.54% Series Q Cumulative Redeemable Preferred Stock, payable on March 31, 2026, to Series Q stockholders of record at the close of business on March 17, 2026.About Prologis 
The world runs on logistics. At Prologis, we don't just lead the industry, we define it. We create the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, our ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one–not just shaping the future of logistics but building what comes next. Learn more at Prologis.com.FORWARD-LOOKING STATEMENTSThe statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," and "estimates" including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where we operate, expectations regarding new lines of business, our debt, capital structure and financial position, our ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties, including the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law.





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Original: Prologis Board of Directors Approves 6 Percent Increase in Quarterly Common Stock Dividend

Prologis Announces Tax Treatment of 2025 DividendsJanuary 27, 2026 10:45 PM
PR Newswire (US)

SAN FRANCISCO, Jan. 27, 2026 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the global leader in logistics real estate, today announced the tax treatment of its 2025 distributions. Exhibits A and B reflect the tax treatment of distributions per share of Prologis, Inc. common and preferred stock, respectively, as prescribed by the Internal Revenue Code. Persons who held shares of common stock of Prologis, Inc. in their name at any time during 2025 will receive an IRS Form 1099-DIV via Computershare, Prologis' transfer agent. Persons who held shares in "street name" during 2025 should note that the Form 1099-DIV will be provided by a bank, brokerage firm or nominee.  Additional information herein may be needed to properly complete a federal tax return.This information has been prepared using the best available information to date. Prologis, Inc.'s federal income tax return for the year ended December 31, 2025, has not yet been filed. Please note that federal tax laws affect taxpayers differently, and we cannot advise on how distributions should be reported. Please also note that state and local taxation of REIT distributions may differ from federal rules. Prologis, Inc. recommends consultation with a tax advisor regarding the federal, state, and local income tax consequences of these distributions.Exhibit A
Tax Treatment of 2025 Common DividendsPrologis, Inc.
Common Shares
CUSIP # 74340W103
Ticker Symbol: PLDRecord DatePayable
DateCash
DistributionOrdinary
Taxable
Income (1)Qualified
Taxable
Dividend (1) Long-Term
Capital Gain
(2)Unrecaptured
Section 1250
Gain (2)Section 199A
DividendsSection 1061
One Year
Amounts
Disclosure (3)Section 1061
Three Year
Amounts
Disclosure (3)Section 897
Capital Gain3/18/20253/31/20251.0100000.9193260.0046190.0742600.0117950.9193260.0103500.0101440.0634466/17/20256/30/20251.0100000.8974700.0066520.0859830.0198950.8974700.0174590.0171110.0878709/16/20259/30/20251.0100000.8974700.0066520.0859830.0198950.8974700.0174590.0171110.08787012/16/202512/31/20251.0100000.8974700.0066520.0859830.0198950.8974700.0174590.0171110.087870

(1)The sum of these amounts will be reported in Box 1a of Form 1099-DIV as Total Ordinary Dividends.(2)The sum of these amounts will be reported in Box 2a of Form 1099-DIV as Total Capital Gain Distributions.(3)For purposes of section 1061 of the Internal Revenue Code, Prologis, Inc. is disclosing two additional amounts related to the capital gain distribution. Section 1061 is generally applicable to direct and indirect holders of "applicable partnership interests." Exhibit B
Tax Treatment of 2025 Preferred DividendsPrologis, Inc.
Series Q Cumulative Redeemable Preferred Shares
CUSIP # 74340W202
Ticker Symbol: PLDGPRecord DatePayable
Date Cash
DistributionOrdinary
Taxable
Income (1)Qualified
Taxable
Dividend (1) Long-Term
Capital Gain
(2)Unrecaptured
Section 1250
Gain (2)Section 199A
DividendsSection 1061
One Year
Amounts
Disclosure (3)Section 1061
Three Year
Amounts
Disclosure (3)Section 897
Capital Gain3/18/20253/31/20251.0675001.0052970.0017530.0604500.0000001.0052970.0000000.0000000.0294746/17/20256/30/20251.0675000.9485630.0070310.0908780.0210280.9485630.0184530.0180850.0928729/16/20259/30/20251.0675000.9485630.0070310.0908780.0210280.9485630.0184530.0180850.09287212/16/202512/31/20251.0675000.9485630.0070310.0908780.0210280.9485630.0184530.0180850.092872

(1)The sum of these amounts will be reported in Box 1a of Form 1099-DIV as Total Ordinary Dividends.(2)The sum of these amounts will be reported in Box 2a of Form 1099-DIV as Total Capital Gain Distributions.(3)For purposes of section 1061 of the Internal Revenue Code, Prologis, Inc. is disclosing two additional amounts related to the capital gain distribution. Section 1061 is generally applicable to direct and indirect holders of "applicable partnership interests."ABOUT PROLOGIS
The world runs on logistics. At Prologis, we don't just lead the industry, we define it. We create the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, our ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one–not just shaping the future of logistics but building what comes next. Learn more at Prologis.com.FORWARD-LOOKING STATEMENTSThe statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," and "estimates" including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future—including statements relating to rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where we operate, expectations regarding new lines of business, our debt, capital structure and financial position, our ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures—are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties, including the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law. 





View original content to download multimedia:https://www.prnewswire.com/news-releases/prologis-announces-tax-treatment-of-2025-dividends-302671820.htmlSOURCE Prologis, Inc.

Original: Prologis Announces Tax Treatment of 2025 Dividends

Trump Cuts Contracts to Affordable Housing Groups in DEI Purge
https://news.bloomberglaw.com/business-and-practice/trump-cuts-contracts-to-affordable-housing-groups-in-dei-purge $PLD

A DRE immigrant to this board.
-pappi

$PLD | #Prologis Inc Breakout Trade


PLEASE GIVE US A LIKE IF YOU FIND OUR CONTENT HELPFUL, THANK YOU.

Prologis $PLD fundamental analysis implies stock's overvalued b4 earnings Tuesday:

Fair Value Analysis

Prologis PLD earnings expected Thursday. Fundamental analysis show shares are overvalued


Analysis

Im surprised no one's posting in PLD. This stock has been doing well for me since 2009 still when it was AMB and PLD seperately. Anyone else invested in this one?

ProLogis to Host First Quarter 2010 Financial Results Webcast and Conference Call

Date : 03/22/2010 @ 5:15PM
Source : PR Newswire
Stock : Prologis (PLD)

http://ih.advfn.com/p.php?pid=nmona&article=42074824&symbol=PLD

ProLogis to Host First Quarter 2010 Financial Results Webcast and Conference Call

PR Newswire

DENVER, March 22

DENVER, March 22 /PRNewswire-FirstCall/ --

ProLogis (NYSE: PLD), a leading global provider of distribution facilities, will host its First Quarter 2010 Financial Results Webcast and Conference Call with senior management to discuss quarterly results, current market conditions and future outlook on Thursday, April 22, 2010, at 10:00 a.m. Eastern Time.

Earnings Release

ProLogis' first quarter 2010 financial results will be released on Thursday, April 22, 2010, before market open and will be available on the ProLogis website, http://ir.prologis.com, in the "Annual & Supplemental Reports" section.

Earnings Webcast and Conference Call

Interested parties are encouraged to access the live webcast by clicking the microphone icon located near the top of the opening page on the ProLogis website at http://ir.prologis.com. Interested parties can also participate via conference call by dialing (866) 305-2304 domestically or (660) 422-4873 internationally.

Replay Information

A replay of the conference call will be available after 1:00 p.m. Eastern Time on Thursday, April 22, 2010. The replay will be available until midnight Eastern Time on Thursday, May 6, 2010, and can be accessed by dialing (800) 642-1687 domestically or (706) 645-9291 internationally and entering the passcode 64192810. A transcript of the call and the webcast replay will be available in the "Quarterly Results" section on the ProLogis website.

About ProLogis

ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,400 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com.

Follow ProLogis on Twitter: http://twitter.com/ProLogis

SOURCE ProLogis

ProLogis Intends to Increase Ownership Stake in ProLogis European Properties

Date : 02/16/2010 @ 2:05AM
Source : PR Newswire
Stock : (PLD)

http://ih.advfn.com/p.php?pid=nmona&article=41544652&symbol=PLD

DENVER, Feb. 16 /PRNewswire-FirstCall/ --

ProLogis (NYSE:PLD), a leading global provider of distribution facilities, announced today that it intends to purchase additional Ordinary Units carrying voting rights of ProLogis European Properties, a Luxembourg closed-ended investment fund (Euronext: PEPR), in the open market or in privately negotiated transactions. ProLogis currently holds approximately 24.8 percent of PEPR's outstanding Ordinary Units.

"In our view, PEPR's Unit price does not fully reflect the significant progress made over the past 14 months to manage through the downturn," said Walter C. Rakowich, ProLogis chief executive officer. "During this time, we have worked diligently to strengthen PEPR's financial condition, maintain PEPR's strong occupancy and optimize the earnings power of its high quality assets. We will continue to manage PEPR in a way that maximizes value, and we intend to increase our ownership, as we believe PEPR Units represent an attractive investment opportunity for ProLogis."

At this time, ProLogis does not intend to increase its equity ownership of PEPR beyond 33.33 percent of Ordinary Units carrying voting rights, a level which would trigger a mandatory tender offer for the remaining PEPR Units under Luxembourg law.

About ProLogis

ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,400 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com/.

About PEPR

PEPR is one of the largest pan-European owners of high quality distribution and logistics facilities. It was listed on Euronext Amsterdam in September 2006 and is externally managed by ProLogis Management S.a r.l, a wholly owned subsidiary of ProLogis.

DATASOURCE: ProLogis

CONTACT: Investors, Melissa Marsden of ProLogis, +1-303-567-5690,

mobile, +1-720-339-7425, ; or Financial Media, Suzanne

Dawson of Linden Alschuler & Kaplan, Inc, +1-212-329-1420, ,

for ProLogis

Web Site: http://www.prologis.com/

ProLogis Reports Fourth Quarter/Year-end 2009 Results

Date : 02/11/2010 @ 8:00AM
Source : PR Newswire
Stock : Prologis (PLD)

http://ih.advfn.com/p.php?pid=nmona&cb=1265905363&article=41493173&symbol=NY^PLD

ProLogis Reports Fourth Quarter/Year-end 2009 Results

- Full-year FFO per Share in Line with Previous Guidance - - Property Market Fundamentals Showing Signs of Improvement - - Company Establishes 2010 Guidance -

DENVER, Feb. 11 /PRNewswire-FirstCall/ --

ProLogis (NYSE:PLD), a leading global provider of distribution facilities, today reported funds from operations as defined by ProLogis (FFO), excluding significant non-cash items, of $1.15 per diluted share in 2009, compared with $3.51 for 2008. (See Summary of Results table for details). These amounts reflect the add back of impairments on real estate properties, goodwill and other assets totaling $0.81 per diluted share in 2009 and $3.01 in 2008. ProLogis reported a net loss per diluted share of $0.01 for 2009, compared with a net loss of $1.82 for 2008.

For the fourth quarter, FFO, excluding significant non-cash items, was $0.13 per diluted share in 2009, compared with $0.56 in 2008. These amounts reflect the add back of impairments on real estate properties, goodwill and other assets totaling $0.78 per diluted share in the fourth quarter of 2009 and $3.04 in 2008. For the fourth quarter of 2009, the company reported a net loss per diluted share of $0.86, compared with a net loss of $3.39 in the same period of 2008.

Reconciliation to Previous Guidance

In addition to the non-cash impairment charges referred to above, the company experienced various non-recurring charges in the fourth quarter and earlier in 2009, as detailed below. FFO, excluding significant non-cash items and non-recurring charges, was $1.41 per diluted share for the full year, in line with the company's previous guidance of $1.39 to $1.43. For the fourth quarter, FFO, excluding significant non-cash items and non-recurring charges, was $0.23 per diluted share.

Three Months Twelve Months Ended Ended December 31, December 31, 2009 2009 ---- ----

FFO, excluding significant non-cash items $0.13 $1.15 Add (deduct) non-recurring charges: Indemnifications related to contributed or sold properties 0.08 0.09 Realized losses on foreign currency transactions - 0.05 Capital markets costs 0.03 0.04 ProLogis' share of losses on sale of fund assets - 0.03 Reduction in workforce - 0.03 Other 0.01 0.04 Adjustments to tax and compensation-related liabilities (0.02) (0.02) ---- ---- Add summarized non-recurring charges 0.10 0.26 ---- ---- FFO, excluding significant non-cash items and non-recurring charges $0.23 $1.41

Significant Accomplishments in 2009 Position Company for Future Opportunities

"We began 2009 with an action plan and aggressive goals related to asset dispositions, debt reduction and development portfolio leasing," said Walter C. Rakowich, chief executive officer. "Throughout the year, we made tough choices and remained highly focused on stabilizing the company. We are pleased to have accomplished our goals, putting the company on firm financial footing and positioning us to take advantage of opportunities as market conditions improve."

Among ProLogis' specific goals for 2009 were to: reduce debt by $2 billion, complete $1.5 to $1.7 billion of asset dispositions and contributions to property funds (exclusive of the sale of certain Asian operations) and achieve static development portfolio leasing of 60 to 70 percent. At year end 2009, the company had reduced debt by $2.7 billion, completed $1.53 billion of property dispositions and contributions and achieved static development portfolio leasing of 68.2 percent.

Continued Signs of Stabilization and Improvement in Property Markets

"While focusing on our action plan, we also worked diligently to maintain stable occupancies in our core portfolio," Rakowich added. "The bottoming of market occupancies and rents that we began to see in mid-2009 held up in the fourth quarter, with some markets showing improvement. For the top 31 North American markets we track, overall net demand turned positive in the fourth quarter, and we saw similar pockets of positive take-up in Europe. And, although we expect net effective rental rates on turnovers to be negative throughout 2010, we believe improving occupancies and the continued lack of new supply will pave the way for improving rental rates in 2011."

ProLogis' non-development portfolio was 92.4 percent leased at the end of the fourth quarter, down slightly compared with 92.7 percent leased at September 30. Same-store net operating income (SS NOI), as adjusted (excluding same-store assets associated with the company's development portfolio), decreased 4.2 percent, a slight improvement over the third quarter SS NOI decline. Net effective rental rates on turnover of 23.6 million square feet, or 6.0 percent of the adjusted same-store pool, were down 11.7 percent for the quarter, representing an improvement over the third quarter decline.

Build-to-Suit Development Demand Supports Reductions in Land Position

"While new speculative development has remained virtually non-existent, during the fourth quarter we continued to see demand for build-to-suit development from customers whose supply chain optimization requirements could not be met with the available supply of space," said Ted R. Antenucci, chief investment officer. ProLogis' fourth quarter starts consisted of a 667,000-square-foot facility for a major home improvement retailer in Southern California and a 504,000-square-foot facility for a leading UK retailer in Scotland. Including joint venture partner capital contributions, total expected investment for all build-to-suit developments started in the second half of 2009 is $336 million.

"Given the continued interest from customers in build-to-suits, we expect to start $700 to $800 million of new development in 2010, primarily in Europe and Asia. We also will continue to pursue land sales, which when combined with new development, will allow us to begin to monetize roughly $350 to $400 million of land in 2010," Antenucci added.

Strategic Repositioning of Asset Base

"In 2009, we used the proceeds from nearly $2.9 billion of contributions and dispositions, including the sale of certain Asian operations, to reduce debt and fund our development portfolio," said Rakowich. "Having stabilized our balance sheet, we are now looking to fund new development activity in a slightly different, leverage-neutral manner. Due to improving property values and growing institutional demand for quality properties, in 2010 we plan to generate $1.3 to $1.5 billion of proceeds from sales of existing assets and contributions to funds, primarily in the United States, and use the proceeds to fund the remaining costs associated with our existing development portfolio as well as 2010 development starts. This approach will allow us to retain more of our non-US development on our balance sheet, thereby improving the geographic diversification of our direct owned assets."

Continued Financing Progress for ProLogis and Property Funds

"We continued to focus on further extending and smoothing the debt maturities both on ProLogis' balance sheet and in our property funds," said William E. Sullivan, chief financial officer. "In the fourth quarter, we issued $600 million of 10-year, ProLogis senior notes and closed on a $108 million secured financing in Japan on our balance sheet. Since the beginning of the fourth quarter, we closed on euro 886 million of financings in our European funds, effectively reducing 2010 maturities within those funds to approximately euro 327 million. This is significant progress from the over euro 1.8 billion of 2010 fund debt maturities we were faced with at the beginning of 2009."

Guidance for 2010

ProLogis established full-year 2010 FFO guidance, excluding significant non-cash items, of $0.74 to $0.78 per share, of which approximately $0.10 relates to expected gains on dispositions of development and land. Net earnings are expected to be between $0.25 and $0.29 per diluted share. A summary of the business drivers supporting ProLogis' 2010 guidance is available at http://ir.prologis.com/2010BusinessDrivers.cfm.

Copies of ProLogis' fourth quarter 2009 supplemental information will be available from the company's website at http://ir.prologis.com/ in the "Annual & Supplemental Reports" section before open of market on Thursday, February 11, 2010. The company will host a webcast/conference call on Thursday, February 11, 2010, at 10:00 a.m. Eastern Time. The live webcast and the replay will be available on the company's website at http://ir.prologis.com/. Additionally, a podcast of the company's conference call will be available on the company's website.

About ProLogis

ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space owned and managed (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,400 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com/.

Follow ProLogis on Twitter: http://twitter.com/ProLogis

The statements above that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which ProLogis operates, management's beliefs and assumptions made by management, they involve uncertainties that could significantly impact ProLogis' financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future - including statements relating to rent and occupancy growth, development activity and changes in sales or contribution volume of developed properties, general conditions in the geographic areas where we operate and the availability of capital in existing or new property funds - are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, (v) maintenance of real estate investment trust ("REIT") status, (vi) availability of financing and capital, (vii) changes in demand for developed properties, and (viii) those additional factors discussed in reports filed with the Securities and Exchange Commission by ProLogis under the heading "Risk Factors." ProLogis undertakes no duty to update any forward-looking statements appearing in this press release.

...

ProLogis Declares Dividends on Common Shares

Date : 02/01/2010 @ 5:15PM
Source : PR Newswire
Stock : (PLD)

http://ih.advfn.com/p.php?pid=nmona&article=41348621&symbol=PLD

DENVER, Feb. 1 /PRNewswire-FirstCall/ --

ProLogis (NYSE:PLD), a leading global provider of distribution facilities, announced today that its Board set the annualized dividend level for 2010 at $0.60 per common share, or $0.15 per quarter. In addition, the Board declared ProLogis' first quarter dividend of $0.15 per common share, payable on February 26, 2010, to shareholders of record on February 12, 2010

About ProLogis

ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space owned and managed (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com/.

DATASOURCE: ProLogis

CONTACT: Robbin Lee of ProLogis, +1-303-567-5690,

Web Site: http://www.prologis.com/

06:58AM - ProLogis upgraded by UBS

http://finance.yahoo.com/q/ud?s=PLD
http://www.marketwatch.com/story/ubs-upgrades-some-reits-after-sell-off-2010-02-01?siteid=yhoof2

ProLogis Closes on Euro 622 Million of Financings for European Property Funds

Date : 01/22/2010 @ 3:00AM
Source : PR Newswire
Stock : Prologis (PLD)

http://ih.advfn.com/p.php?pid=nmona&article=41213801&symbol=PLD

DENVER, Jan. 22 /PRNewswire-FirstCall/ --

ProLogis (NYSE:PLD), a leading global provider of distribution facilities, announced today that over the past four weeks it has completed four financings for its European property funds, totaling euro 622 million. The four financings have a weighted average coupon of 4.91 percent

Three, four-year financings, resulting in euro 441 million of funding, were completed for ProLogis European Properties (Euronext: PEPR). They have loan-to-value ratios of between 50 and 55 percent and are secured by assets located in Germany, Belgium, France, Italy, Spain, Poland and the United Kingdom. The largest component of these financings is a euro 300 million Pan-European, syndicated loan with six European lenders, arranged by Goldman Sachs, which was one of the largest loans of this kind done in the European real estate sector since 2008

ProLogis also completed a euro 181 million financing for ProLogis European Properties Fund II, the largest single-lender mortgage financing completed in Europe since the fall of 2008. This financing is secured by 22 assets in France and has a loan-to-value ratio of 60 percent

"With these financings, we have reduced 2010 maturities within the two funds to under euro 336 million - significant progress from the euro 1.8 billion we were faced with as of December 31, 2008. With the capital transactions in progress and available liquidity within the funds, we are comfortable with our ability to address the remaining maturities in the near future," said William E. Sullivan, ProLogis' chief financial officer. "The European financing market continues to demonstrate its diversity and resilience, as we are able to complete transactions with a wide spectrum of lenders at attractive rates."

About ProLogis

ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com/.

DATASOURCE: ProLogis

CONTACT: Investors, Melissa Marsden, +1-303-567-5622,

, or Media, Krista Shepard, +1-303-567-5907,

, both of ProLogis; or Financial Media, Suzanne Dawson of

Linden Alschuler & Kaplan, Inc., +1-212-329-1427, , for

ProLogis

Web Site: http://www.prologis.com/

Stocks fall as Obama calls for tougher bank rules

Stocks slide anew as Obama calls for tighter restrictions on some trading by banks

Stephen Bernard and Tim Paradis, AP Business Writers,
On Thursday January 21, 2010, 12:08 pm EST
http://finance.yahoo.com/news/Stocks-fall-as-Obama-calls-apf-1512287612.html;_ylt=ArFaJECrqfyx6R5QIp67fdG7YWsA_ylu=X3oDMTE1NG43dGc2BHBvcwMzBHNlYwN0b3BTdG9yaWVzBHNsawNzdG9ja3NzZWV3b3I-?x=0&sec=topStories&pos=1&asset=&ccode=

NEW YORK (AP) -- Financial shares pulled the stock market lower Thursday as President Barack Obama proposed rules that would limit the types of trading banks can do with their money.

The Dow Jones industrial average tumbled 200 points after dropping 122 points on Wednesday. The index has seen four straight triple-digit swings. Bond prices rose as the stock market became more volatile.

Tightening the rules on how big banks trade their money could hurt profits at those companies.

Broader concerns also dogged investors. Patrick Galley, chief investment officer at RiverNorth Capital in Chicago, said stocks have risen so fast in the past 10 months that expectations about an economic recovery are getting too high.

"The market can be quite fickle just because of the huge run-up that we've had," he said. "A lot of folks have their trigger finger on the sell button if they start to sense that news won't meet expectations."

The market was mixed earlier as good earnings news was tempered by an unexpected jump in initial jobless claims. But banks, which have driven the market over the past year and a half, were the focus by late morning.

The Labor Department said workers filing for unemployment benefits for the first time rose by 36,000 to 482,000 last week. Economists polled by Thomson Reuters were expecting a small drop. The four-week average rose for the first time since August.

The report provided a grim reminder that while the economy might have improved modestly, a robust recovery is unlikely until companies start adding jobs. The unemployment rate remained at 10 percent last month.

Traders said weakness in manufacturing also brought concern that the economy might not be recovering as quickly as hoped. The Philadelphia Federal Reserve said manufacturing in its region fell in January from December. Its index of regional manufacturing conditions fell to 15.2 from a revised 22.5 last month.

In midday trading, the Dow fell 204.58, or 1.9 percent, to 10,398.57. The broader Standard & Poor's 500 index fell 19.31, or 1.7 percent, to 1,118.73. The Nasdaq composite index fell 27.50, or 1.2 percent, to 2,263.75.

Stocks had tumbled on Wednesday after China said it would curb bank lending to slow down its economy. The latest sign of China's supercharged growth came out on Thursday as the country reported 10.7 percent economic expansion in the fourth quarter and 8.7 percent for all of last year. The rapid growth reinforced concerns that China will take more steps to tighten monetary policy and rein in its economy, which could dampen a global economic rebound.

Bond prices jumped as the stock market fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.62 percent from 3.65 percent late Wednesday.

The dollar rose against other major currencies, while gold fell. A rise in the dollar hurt commodity prices, which become more expensive for foreign buyers when the dollar strengthens.

Crude oil fell 90 cents to $76.84 per barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies fell 10.93, or 1.7 percent, to 628.68.

Four stocks fell for every one that rose on the New York Stock Exchange, where volume came to 586.8 million shares compared with 473.6 million shares traded at the same point Wednesday.

Britain's FTSE 100 fell 1.5 percent, Germany's DAX index lost 1.8 percent, and France's CAC-40 fell 1.7 percent. Earlier, Japan's Nikkei stock average rose 1.2 percent.

Anyone heard anything for the reason for the 5% drop today?

ProLogis to Participate in the Deutsche Bank 2010 Real Estate Outlook Conference
Date : 01/12/2010 @ 5:15PM
Source : PR Newswire
Stock : Prologis (PLD)

http://ih.advfn.com/p.php?pid=nmona&article=41078381&symbol=PLD

ProLogis to Participate in the Deutsche Bank 2010 Real Estate Outlook Conference

DENVER, Jan. 12 /PRNewswire-FirstCall/ --

ProLogis (NYSE:PLD), a leading global provider of distribution facilities, announced today that it will participate in the Deutsche Bank 2010 Real Estate Outlook Conference being held at The Pierre Hotel in New York City on January 13, 2010. Bill Sullivan, chief financial officer for ProLogis, will participate in an industrial panel at 3:00pm Eastern Time

You may listen to the webcast of the panel by going to ProLogis' website at http://ir.prologis.com/ and clicking on the link provided under "Presentations & Webcasts." At this location, you will also find the company's presentation being used in meetings with investors starting at 8:00am Eastern Time on January 13, 2010. The presentation covers topics such as property fund financing activity, land monetization and future earnings upside

About ProLogis

ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space owned and managed (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com/.

DATASOURCE: ProLogis

CONTACT: Robbin Lee of ProLogis, +1-303-567-5690,

Web Site: http://www.prologis.com/

ProLogis Announces 4.0 Million Square Feet of Fourth Quarter Global Development Portfolio Leasing Activity

Date : 01/12/2010 @ 7:00AM
Source : PR Newswire
Stock : Prologis (PLD)
Quote : 13.73 -0.36 (-2.56%) @ 1:47PM

http://ih.advfn.com/p.php?pid=nmona&article=41067513&symbol=PLD

ProLogis Announces 4.0 Million Square Feet of Fourth Quarter Global Development Portfolio Leasing Activity

- Global Static Development Portfolio Now 68.2 Percent Leased -

DENVER, Jan. 12 /PRNewswire-FirstCall/ --

ProLogis (NYSE:PLD), a leading global provider of distribution facilities, announced today that its static global development portfolio was 68.2 percent leased as of year-end 2009

"Roughly one year ago, we set a goal to achieve a leased percentage of 60 - 70 percent by year-end 2009 for our development portfolio properties in place as of the end of 2008, or what we have called our static portfolio," said Walt Rakowich, chief executive officer. "We are pleased to have reached the upper end of that goal and are encouraged by continued leasing activity and customer demand. At a time when little development is coming online, ProLogis' best-in-class development inventory provides immediate solutions for our customers' distribution space needs."

ProLogis signed 56 leases in its static development portfolio during the fourth quarter, which increased leased space in this portfolio by approximately 4.0 million square feet (372,000 square meters) in locations worldwide

Recent development portfolio leasing transactions included:

-- Asia: A new, 381,000-square-foot (35,400-square-meter) lease agreement in Japan with Hitachi Transport System, Ltd., a leading third-party logistics provider. Hitachi Transport System will operate the space on behalf of its customer at ProLogis' newly developed facility in the Tokyo market. New development leases in Asia during the fourth quarter totaled 1,130,000 square feet (105,000 square meters)

-- Europe: A new, 237,000-square-foot (22,000-square-meter) lease agreement in the United Kingdom with Biffa, a leading integrated waste management business. Biffa will occupy the space in Building Three at ProLogis Park Midpoint, located in the West Midlands, and will use it as a materials recycling facility for non-hazardous recyclable materials. New development leases in Europe during the fourth quarter totaled 1,937,000 square feet (180,000 square meters)

-- North America: A new, 255,000-square-foot (23,700-square-meter) lease agreement signed in Atlanta with Viega LLC, a manufacturer of plumbing, heating, gas and potable water products. Occupying space at ProLogis Park Greenwood, the customer will use the space as a new distribution hub to serve its customers in the southeastern United States. New development leases in North America during the fourth quarter totaled 877,300 square feet (81,500 square meters)

About ProLogis

ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com/.

DATASOURCE: ProLogis

CONTACT: media, Mo Sheahan, +1-303-567-5434, , or

investors, Melissa Marsden, +1-303-567-5622, , both of

ProLogis; or Suzanne Dawson of Linden Alschuler & Kaplan, Inc.,

+1-212-329-1420, , for ProLogis

Web Site: http://www.prologis.com/

I'm new to PLD... but like the looks of it!

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ProLogis to Host Fourth Quarter/Year End 2009 Financial Results Webcast and Conference Call

Date : 01/06/2010 @ 5:15PM
Source : PR Newswire
Stock : Prologis (PLD)

http://ih.advfn.com/p.php?pid=nmona&article=40998129&symbol=PLD

DENVER, Jan. 6 /PRNewswire-FirstCall/ -- ProLogis (NYSE:PLD), a leading global provider of distribution facilities, will host its Fourth Quarter/Year End 2009 Financial Results Webcast and Conference Call with senior management to discuss quarterly results, current market conditions and future outlook on Thursday, February 11, 2010, at 10:00 a.m. Eastern Time

Earnings Release

ProLogis' fourth quarter/year end 2009 financial results will be released on Thursday, February 11, 2010, before market open and will be available on the ProLogis website, ir.prologis.com/, in the "Annual & Supplemental Reports" section

Earnings Webcast and Conference Call

Interested parties are encouraged to access the live webcast by clicking the microphone icon located near the top of the opening page on the ProLogis website at ir.prologis.com/. Interested parties can also participate via conference call by dialing (866) 305-2304 domestically or (660) 422-4873 internationally

Replay Information

A replay of the conference call will be available after 1:00 p.m. Eastern Time on Thursday, February 11, 2010. The replay will be available until midnight Eastern Time on Thursday, February 25, 2010, and can be accessed by dialing (800) 642-1687 domestically or (706) 645-9291 internationally and entering the passcode 49471953. A transcript of the call and the webcast replay will be available in the "Quarterly Results" section on the ProLogis website

About ProLogis

ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space owned and managed (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com/.

DATASOURCE: ProLogis

CONTACT: Robbin Lee of ProLogis, +1-303-567-5690,

Web Site: http://www.prologis.com/

ProLogis Closes Japanese Financing

By: Zacks Equity Research
December 23, 2009
http://www.zacks.com/stock/news/28621/ProLogis+Closes+Japanese+Financing

ProLogis (PLD - Snapshot Report), one of the leading global providers of distribution facilities, recently completed a $113 million (10 billion yen) financing to repay its debt. The financing was obtained through a "tokutei mokuteki kaisha" (TMK), a tax-favored, special-purpose vehicle created in Japan for acquiring and holding Japanese assets. Secured by real estate assets, the TMK issues corporate bonds, which can be bought by Japanese and non-Japanese investors.

The financing has a maturity period of three years and is collateralized by ProLogis Parc Osaka II, a multi-tenant facility that is over 95% leased and located in Osaka, Japan. Proceeds from the financing were used to pay down the global lines of credit.

ProLogis owns and manages interests in over 2,500 distribution facilities spanning 475 million square feet (including properties under development) of space. In response to the economic realities of constrained credit and rapidly deteriorating industrial real estate fundamentals, ProLogis has stopped all new development starts and early-stage developments. The company is currently concentrating on increasing its liquidity and de-leveraging its balance sheet.

With the financing agreement, ProLogis has displayed the unique strength of its large and diversified unencumbered asset base. Shares are now attractively valued relative to peer group averages and underlying NAV. We think the company has done an adequate job of addressing debt maturities and will be able to tide over the credit crunch.

ProLogis Closes 10 Billion Yen ($113 Million) TMK Bond Financing

http://ir.prologis.com/releaseDetail.cfm?ReleaseID=430925

DENVER, Dec 16, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today that it has completed a 10 billion yen ($113 million) TMK bond secured financing. Sumitomo Mitsui Banking Corp. was lead on the financing, which has a three-year maturity and is secured by ProLogis Parc Osaka II. Proceeds from this financing were used to pay down ProLogis' global line of credit. Tokutei Mokuteki Kaisha (TMK) is a tax favored, special purpose securitization vehicle that issues corporate bonds secured by real estate assets.

"The TMK bond market in Japan continues to be a very attractive capital source. We are fortunate to have strong relationships with some of the premier lenders in the region and to have a product type that continues to be attractive as a source of security," said Phillip D. Joseph, Jr., senior vice president and treasurer. ProLogis Parc Osaka II is a 1.4 million-square-foot, multi-tenant facility located in Osaka, Japan, that is over 95 percent leased to well-known companies like Nipro Corporation, Kintetsu World Express and Sankyu Inc.

About ProLogis

ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to www.prologis.com.

SOURCE ProLogis

http://www.prologis.com

Copyright (C) 2009 PR Newswire. All rights reserved

ProLogis to Participate in the Goldman Sachs Commercial Real Estate Symposium 2009

Date : 12/03/2009 @ 5:15PM
Source : PR Newswire
Stock : Prologis (PLD)

http://ih.advfn.com/p.php?pid=nmona&cb=1260023932&article=40633435&symbol=NY^PLD

DENVER, Dec. 3 /PRNewswire-FirstCall/ -- ProLogis (NYSE:PLD), a leading global provider of distribution facilities, announced today that it is participating in Goldman Sachs Commercial Real Estate Symposium 2009 being held at the Goldman Sachs Conference Center on December 4, 2009. Walter C. Rakowich, chief executive officer for ProLogis, will participate in an industrial panel at 10:30 am Eastern Time.

You may listen to a webcast of the industrial panel and view the presentation being used in the investor meetings by going to ProLogis' website at http://ir.prologis.com/ and clicking on the link provided under "Presentations & Webcasts." The presentation includes updated details on development and the company's land bank and will be available at 8:00 am Eastern Time on December 4, 2009.

About ProLogis

ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space owned and managed (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com/.

DATASOURCE: ProLogis

CONTACT: Robbin Lee of ProLogis, +1-303-567-5690,

Web Site: http://www.prologis.com/