Prologis, Inc. — Director's Dealing 2017

May 25, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Prologis, Inc. (PLD)
CIK: 0001045609
Period of Report: 2017-05-25

Reporting Person: Anderson Gary E (CEO, Europe and Asia)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-25	Common Stock	M	65000	$0.00	Acquired	65000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-05-25	LTIP Units	$0.00	M	65000	Acquired		Common Stock (65000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1702.503	Indirect

Footnotes

F1: Conversion of LTIP Units (the "LTIP Units") of Prologis, L.P. into common units of Prologis, L.P. (the "Common Units") and redemption of
Common Units for shares of our common stock. The units have no exercisable date or expiration date.

F2: Represents shares held in the company's 401(k) Plan as of March 31, 2017.