Prologis, Inc. — Director's Dealing 2023

May 6, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Prologis, Inc. (PLD)
CIK: 0001045609
Period of Report: 2023-05-03

Reporting Person: Palazzolo Lori A (Chief Accounting Officer/MD)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-05-03	LTIP Units	$0.00	A	672	Acquired		Common Stock (672)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	219.487	Indirect
Common Stock	414	Direct

Footnotes

F1: Represents shares held in the company's 401(k) Plan as of March 31, 2023.

F2: Represents LTIP Units of Prologis, L.P. (the "LTIP Units") which vest 25% on each of 5/3/2024, 5/3/2025, 5/3/2026, and 5/3/2027, subject to continued employment. The LTIP Units were issued to the reporting person pursuant to the Prologis, Inc. 2020 Long-Term Incentive Plan (the "2020 LTIP").

F3: Conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, each vested LTIP Unit may be converted, at the election of the holder, into a common unit of limited partnership interest in Prologis, L.P. (a "Common Unit"). Each Common Unit acquired upon conversion of a vested LTIP Unit may be presented for redemption, at the election of the holder, for cash equal to the then fair market value of a share of Common Stock of the Company (the "Common Stock"), except that the Company may, at its election, acquire each Common Unit so presented for one share of Common Stock. The rights to convert vested LTIP Units into Common Units and redeem Common Units have no expiration dates.