Prologis, Inc. — Director's Dealing 2023

May 9, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Prologis, Inc. (PLD)
CIK: 0001045609
Period of Report: 2023-05-04

Reporting Person: LYONS IRVING F III (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-05-04	Deferred Stock Units- NQDC	$0.00	A	1801	Acquired		Common Stock (1801)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Deferred Stock Units	$0.00		Common Stock (9795.0171)	9795.0171	Direct

Footnotes

F1: Represents Deferred Stock Units (DSUs) associated with previous service on the board of ProLogis, our merger partner, and assumed by us in June 2011. DEUs accrue on outstanding DSUs at the Prologis common stock dividend rate at the time dividends are paid on Prologis common stock. DEUs vest upon issuance and the receipt of such DEUs is deferred, as are the underlying DSUs, during the period the reporting person serves as a director. DSUs and DEUs are paid in the form of Prologis common stock at the rate of one common share per DSU or DEU. Balance in column 9 includes DSUs and DEUs.

F2: Deferred Stock Units (DSUs) granted May 4, 2023, which 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 generally, are deferred under the Prologis, Inc. Nonqualified
Deferred Compensation Plan until May 4, 2026. DSUs earn dividend equivalent units (DEUs) when dividends are paid with respect to Prologis
common stock and have no exercisable or expiration date. DSUs and accrued DEUs are convertible into Prologis common stock on a 1-for-1
basis. Balance in column 9 includes DSUs and DEUs.