Letter s  Overview   Ahead of What’s Next  Sustainable Logistics   Our Inspired People  Resilient Communities   Appendix Economic and social impact Logistics real estate drives economic development and supports the needs By locating our logistics facilities close to urban centers, we create $2.7T of surrounding communities. A 2022 study by the independent advisory economic and social value through shorter delivery routes, reduced firm Oxford Economics determined that $2.7T in goods flow through our greenhouse gas emissions and next-day or even same-day delivery of in goods flow through our distribution centers each year. This represents 2.8% of global GDP and 4.0% the crucial goods and services, including food and medicine, that local distribution centers each year of the GDP for the 19 countries where we do business. Some 1.1 million residents and businesses need. people work under a Prologis roof each day. Oxford Economics will be updating their study in the second half of 2024. Prologis is committed to openness and transparency regarding taxes, 2.8% an important aspect of our economic impact. Our global head of tax of global GDP As a long-term owner, we value long-term relationships with the people in is responsible for our tax policies and procedures. We comply with all the communities where we do business. Our goal is to be the logistics facility applicable rules and regulations and report current and deferred domestic provider of choice by creating value not only for our customers, but also for and international tax liabilities in our Form 10-K . Our tax planning is aligned the communities where we operate. As an example, in the United Kingdom with our commercial business activities. 4.0% in 2023, according to the Social Value Portal, five Prologis projects provided more than $28M of local social and economic value, including but not limited Community safety of the GDP for the 19 to indirect local spending; training and apprenticeships; and 68 construction Protecting health and safety is a key part of our commitment to the countries where we do and logistics jobs. communities where we operate. business Prologis leases require customers to comply with all applicable laws and regulations in their operations and occupancy. We conduct financial 1.1 M due diligence on a customer before entering into a lease agreement and people work under a Prologis then work closely with the customer during the lease. Once leased, the roof each day customer has exclusive possession and control of the premises under the terms of the lease as well as under tenant-landlord law. When we become aware of conditions that might impact community safety, we notify relevant authorities and take appropriate action, including seeking to evict the customer if warranted by the circumstances and permitted by applicable law. If a community safety incident occurs at or near a Prologis property, we work with the customer to mitigate and minimize the community impact. 39