Prologis (PLD) Reports Q4 CFFO of $0.64/Share

GUIDANCE ESTABLISHED FOR 2016 – CORE FFO EXPECTED TO GROW 14% YEAR-OVER-YEAR

Per diluted share

Core FFO

$2.50 to $2.60

GAAP Net Earnings

$0.28 to $0.36

Operations

Year-end occupancy

96.0% to 97.0%

GAAP Same store NOI – Prologis share

3.5% to 4.5%

Other Assumptions (in millions)

Strategic capital revenue

$180 to $190

Net promote income

$90 to $100

General & administrative expense

$235 to $245

Realized development gains

$150 to $200

Annualized fourth quarter 2015 dividend

$1.60

Capital Deployment (in millions)

Development stabilizations (80% Prologis share)

$2,000 to $2,200

Development starts (80% Prologis share)

$1,800 to $2,300

Building acquisitions (40% Prologis share)

$400 to $700

Building and land dispositions (75% Prologis share)

$1,700 to $2,200

Building contributions (75% Prologis share, net of retained ownership)

$900 to $1,200