Letter s  Overview   Ahead of What’s Next  Sustainable Logistics   Our Inspired People  Resilient Communities   Appendix Net-zero update In June 2022, we made a commitment to achieve net-zero greenhouse Progress gas emissions across our value chain (Scopes 1, 2 and 3) by 2040. In early 2024, the Science Based Targets initiative (SBTi) validated this Scope 1 and 2 – Operational Emissions: commitment, along with our near-term (2030) targets: to reduce Scope 1 and 2 emissions by 90% and Scope 3 emissions by 27.5%. Our baseline We’re working to electrify the Prologis fleet, with a goal of 100% by year-end 2030. This will year for all targets is 2019. 1 help us reduce emissions from mobile fuels. Our goal represents a significant opportunity to serve our customers We purchase renewable energy credits (RECs) to cover 100% of our annual office electricity. in new ways, as many of them are also working to decarbonize their This has helped us achieve zero emissions from office electricity. operations and value chains. Scope 1 and 2 emissions represent approximately 0.2%—and Scope 3 Scope 3 – Supply Chain Emissions: emissions represent approximately 99.8%—of our total emissions. We complete life cycle assessments (LCAs) to determine the embodied and operational emissions of every new development. Detail on emissions performance and our climate strategy can be found in Sustainable Logistics . We participate in a wide range of industry partnerships and collaborations (see Climate Strategy for examples) to identify ways to reduce emissions from our supply chain. This will help us reduce embodied carbon emissions, including from the production of concrete and steel. Timeline 2022 2025 2030 2040 Scope 3 – Leased Asset Emissions: We have more than 500 MW of solar and storage capacity across our portfolio. When this energy is used by our customers, we reduce our emissions from downstream leased assets (emissions from the energy our customers purchase and use). Committed to Deploy 1 Achieve a 90% net zero and GW of solar reduction in We implemented net-zero-ready building design standards for 60% of new builds in 2023, with a goal launched key and storage Scope 1 and 2 to reach 100% in 2024. Net-zero-ready building design standards include solar-ready roofs, efficient partnerships capacity emissions LED lighting and, where feasible, electric heat pumps in place of natural gas-fired heating systems. Achieve a 27.5% Achieve net-zero reduction in emissions across Scope 3 emissions Scopes 1, 2 and 3 We’ve installed efficient LED lighting across 74% of our portfolio , 2 also reducing emissions from downstream leased assets (emissions from the energy our customers purchase and use). 1. The target boundary includes land-related emissions and removals from bioenergy feedstocks. 2. Across our owned and managed operating properties. Does not include a portfolio of properties acquired in June 2023. 10