Financial
Highlights

At a Glance

Financial and operating results in 2015 exceeded expectations and reflected outstanding execution by the team and favorable market conditions. Core FFO grew 19% year-over-year, occupancy reached a record 96.9% and rent increased 13%. We enter 2016 with record occupancy levels, substantial requirements from our customers to further optimize their supply chains, and strong institutional interest in our co-investment ventures.

Assets Under Management

(in billions)

15

$59.5

14

$52.8

13

$48.2

Revenue Summary

(in millions)

15

$2,197

14

$1,761

13

$1,750

Value Creation

(in millions)

15

$699

14

$273

13

$372

Adjusted EBITDA

(in millions)

15

$1,936

14

$1,630

13

$1,816

Core FFO

(per diluted share)

15

$2.23

14

$1.88

13

$1.65

Dividends per Common Share

(unit)

15

$1.52

14

$1.32

13

$1.12

Loan-to-Value1

15

38.4%

14

36.5%

13

36.8%

Debt-to-EBITDA

15

6.01x

14

6.13x

13

5.51x

Fixed Charge Coverage2

15

4.43x

14

3.49x

13

3.14x

Please see Prologis' Annual Report on Form 10-K for the year ended December 31, 2015 and our 4Q15 earnings supplemental for additional detail regarding the financial information presented in this annual report and definitions and reconciliations of non-GAAP measurements, such as Core FFO, GAAP same store NOI and adjusted EBITDA. Regarding securities ratings presented, such ratings are not recommendations to buy, sell or hold securities and are subject to revision or withdrawal at any time by the rating organizations.

1 LTV is defined as the mortgage value of a property divided by the appraised value of the property.

2 This figure essentially represents how many times our interest payments (Fixed Charges) could be paid (or "covered") from our cash flow. Fixed Charge Coverage is defined as Adjusted EBITDA divided by total fixed charges. Fixed charges consist of net interest expense adjusted for amortization of finance costs and debt discount (premium), capitalized interest, and preferred stock dividends.

//GOOGLE ANALYTICS