Prologis, Inc. — Director's Dealing 2012

May 7, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Prologis, Inc. (PLD)
CIK: 0001045609
Period of Report: 2012-05-03

Reporting Person: STEUERT D MICHAEL (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-05-03	Deferred Stock Units - NQDC	$0.00	A	3514	Acquired		Common Stock (3514)	Direct

Footnotes

F1: Deferred Stock Units (DSUs) granted on May 3, 2012 vest 100% on the earlier of the first anniversary of the grant date or the first annual meeting of the stockholders of Prologis that occurs after the grant date and are deferred under the Prologis, Inc. Nonqualified Deferred Compensation Plan (NQDC Plan). DSUs are convertible into Prologis common stock on a 1-for-1 basis. DSUs earn dividend equivalent units (DEUs) when distributions are declared on Prologis common stock and have no exercisable or expiration date. Balance in column 9 also includes 583 DSUs from the reporting person's deferral of director fees under the NQDC Plan.