Prologis, Inc. — Director's Dealing 2017

May 23, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Prologis, Inc. (PLD)
CIK: 0001045609
Period of Report: 2017-05-22

Reporting Person: Curless Michael S (Chief Investment Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-22	Common Stock	M	40000	$0.00	Acquired	40102	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-05-22	LTIP Units	$0.00	M	40000	Disposed		Common Stock (40000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	14466	Indirect
Common Stock	14465	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: Held indirectly in a trust of which the reporting person is the trustee and beneficiary.

F3: Held indirectly in a trust of which the reporting person's spouse is the trustee.