Prologis Completes 16 Build-to-Suit Development Projects in the First Half of 2018 Totaling more than 6.2 Million Square Feet

SAN FRANCISCO, July 10, 2018 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the global leader in logistics real estate, today announced it completed 16 build-to-suit development projects in the first half of 2018 totaling more than 6.2 million square feet with a total expected investment (TEI) of approximately $475 million on a Prologis share basis.

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During the same period, the company initiated 14 build-to-suit development starts representing over 4.7 million square feet with a TEI of approximately $450 million on a Prologis share basis. Consistent with first-half completions, the majority of these starts were signed with multi-site customers and are located in urban markets that are positioned for Last Touch® operations.

"Our multi-site customers, many of whom are focused on e-commerce, continue to drive strong results in our build-to-suit business," said Michael S. Curless, chief investment officer, Prologis. "Our development activity is focused in major population centers because our customers need facilities close to their end consumers."

Prologis' First Half 2018 Build-to-Suit Completions

                      Customer                    Industry                                      Market Size (SF)
                      --------                    --------                                      ------  --------

    1   Amazon                               E-commerce
                                             (International)     Mexico City, Mexico                              996,897
    ---                              ------ ----------------     -------------------                              -------

    2   Lindt                                Manufacturing
                                             (International)     Tracy, CA                                        708,080
    ---                               ----- ----------------     ---------                                        -------

    3   Zinus Inc.                          Retail (Domestic)    Tracy, CA                                        664,000
    --- ----------                          ----------------     ---------                                        -------

    4   CULTURA                             Retail (Domestic)    Paris, France                                    609,808
    --- -------                             ----------------     -------------                                    -------

    5   Home Depot                          Retail (Regional)    Cranbury, NJ                                     504,428
    --- ----------                          ----------------     ------------                                     -------

    6   Logista Italia                      Logistics (Regional) Bologna, Italy                                   435,712
    --- --------------                      -------------------- --------------                                   -------

    7   Yusen Logistics                      Logistics
                                             (International)     Wellingborough, United Kingdom                   379,213
    ---                     --------------- ----------------     ------------------------------                   -------

    8   Sainsburys                          Retail (Domestic)    Northampton, United Kingdom                      325,502
    --- ----------                          ----------------     ---------------------------                      -------

    9   Brivio&Vigano                        Logistics
                                             (International)     Milan, Italy                                     317,223
    ---                       ------------- ----------------     ------------                                     -------

    10  ID Logistics                         Logistics
                                             (International)     Barcelona, Spain                                 284,630
    ---                        ------------ ----------------     ----------------                                 -------

    11  Pantos Logistics                     Logistics
                                             (International)     Tilburg, Netherlands                             277,741
    ---                    ---------------- ----------------     --------------------                             -------

    12  EXERTIS                              Logistics
                                             (International)     Paris, France                                    271,853
    ---                             ------- ----------------     -------------                                    -------

    13  VAFO PRAHA                           Manufacturing
                                             (International)     Prague, Czech Republic                           255,275
    ---                          ---------- ----------------     ----------------------                           -------

    14  Prime Cargo                          Logistics
                                             (International)     Szczecin, Poland                                  98,920
    ---                         ----------- ----------------     ----------------                                  ------

    15  RTP Company                          Manufacturing
                                             (International)     Wroclaw, Poland                                   89,696
    ---                         ----------- ----------------     ---------------                                   ------

    16  JAS Forwarding                       Logistics
                                             (International)     Chicago, IL                                       80,636
    ---                      -------------- ----------------     -----------                                       ------

                                                                 Total                                          6,299,614
                                                                 -----                                          ---------

Prologis' First Half 2018 Build-to-Suit Starts*

                     Customer Profile                                 Market Size (SF)
                     ----------------                                 ------  --------

    1   Retail (International)        Muggensturm, Germany                            1,086,606
    --- ---------------------         --------------------                            ---------

    2   E-commerce (International)    Tsukuba, Japan                                    679,455
    --- -------------------------     --------------                                    -------

    3   Construction (International)  Central Valley, CA                                567,870
    --- ---------------------------   ------------------                                -------

    4   E-commerce (International)    Mexico City, Mexico                               558,507
    --- -------------------------     -------------------                               -------

    5   Automotive (International)    Birmingham, UK                                    414,350
    --- -------------------------     --------------                                    -------

    6   Logistics (International)     Douvrin, France                                   342,691
    --- ------------------------      ---------------                                   -------

    7   Logistics (Domestic)          Douvrin, France                                   283,263
    --- -------------------           ---------------                                   -------

    8   E-commerce (International)    Dulles, VA                                        182,010
    --- -------------------------     ----------                                        -------

    9   E-commerce (International)    Dulles, VA                                        148,777
    --- -------------------------     ----------                                        -------

    10  E-commerce (International)    Dulles, VA                                        148,777
    --- -------------------------     ----------                                        -------

    11  Retail (Domestic)             Piotrkow, Poland                                  111,600
    --- ----------------              ----------------                                  -------

    12  Logistics (International)     Szczecin, Poland                                   98,920
    --- ------------------------      ----------------                                   ------

    13  Retail (International)        Hemel Hempstead, United Kingdom                    80,000
    --- ---------------------         -------------------------------                    ------

    14  Logistics (International)     Szczecin, Poland                                   28,105
    --- ------------------------      ----------------                                   ------

                                      Total                                           4,730,931
                                      -----                                           ---------

*Due to confidentiality, Prologis does not disclose customer names at this stage of development.

ABOUT PROLOGIS
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of March 31, 2018, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 683 million square feet (63 million square meters) in 19 countries. Prologis leases modern distribution facilities to a diverse base of approximately 5,000 customers across two major categories: business-to-business and retail/online fulfillment.

FORWARD-LOOKING STATEMENTS
The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future -- including statements relating to rent and occupancy growth, development activity, contribution and disposition activity, general conditions in the geographic areas where we operate, our debt, capital structure and financial position, our ability to form new co-investment ventures and the availability of capital in existing or new co-investment ventures -- are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic and political climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties, (v) maintenance of real estate investment trust status, tax structuring and changes in income tax rates (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings, (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures, (viii) risks of doing business internationally, including currency risks, (ix) environmental uncertainties, including risks of natural disasters, and (x) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document, except as may be required by law.

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