PERFORMANCE TEAM - A MAERSK COMPANY & PROLOGIS LAUNCH NEW EV TRUCK CHARGING DEPOT, POWERED BY NATION'S LARGEST EV TRUCK MICROGRID

While utilities work to upgrade the electrical grid, companies like Prologis and Maersk are investing heavily in California to find innovative and creative solutions that get EV trucks on the road immediately. In developing the Denker charging depot, Prologis installed the charging infrastructure to help speed up the time the project could get online and trucks could get on the road, rather than waiting up to two years for the grid upgrade. Prologis developed an innovative charging solution, in conjunction with Mainspring Energy, to build a microgrid, which is any small network of electrical generators and loads that may be grid-connected but is capable of operating independently of the local grid. The Prologis Denker microgrid uses 2.75 MW of fuel-flexible, hydrogen-ready linear generators paired with 18 MWh of batteries to provide up to 9 MW of charging capacity. 

Public/private partnerships made a difference 

"The future of heavy-duty trucking is pollution-free, and companies in California are leading the way," said California Natural Resources Secretary Wade Crowfoot. "This public-private partnership to create California's largest electric truck charging depot will reduce pollution and speed the adoption of electric trucks. In doing so, it helps to build energy independence for our transportation sector. This project is a big step forward and a win-win for our environment and economy."  

With 20,000 trucks serving the ports of Los Angeles and Long Beach, it will take continued collaboration between government, regulators and private industry to build the infrastructure and equipment necessary to support the trucking industry's transition. Prologis and Performance Team officials said the project delivery was expedited thanks to a strong partnership with the Los Angeles Department of Water and Power, which enabled long-term design and planning, the City of Los Angeles, which permitted the project, and Southern California Gas Co., which powered the microgrid with natural gas.

The Denker charging depot is the third Southern California commercial truck EV charging project Prologis Mobility and Performance Team have opened together. Performance Team facilities in Santa Fe Springs and Commerce, equipped with Prologis Mobility charging infrastructure, provide 4 MW of charging capacity—enough to charge 38 electric trucks. 

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Prologis Mobility
Prologis Mobility offers a charging-as-a-service with no upfront costs to its customers and comprehensive solutions that include design and construction, energy procurement, hardware, operations monitoring, proprietary software solutions, and maintenance. Prologis Mobility is also developing public and private EV charging hubs for heavy-duty fleets, offering access to scaled charging located strategically within the company's real estate portfolio. 

ABOUT PERFORMANCE TEAM – A MAERSK COMPANY
Performance Team is a Maersk company that operates over 140 electric vehicles across the United States. A.P. Moller - Maersk is an integrated logistics organization working to connect and simplify its customers' supply chains. As a global leader in logistics services, the organization operates in more than 130 countries and employs around 100,000 people. Maersk is aiming to reach net zero emissions by 2040 across the entire business with new technologies, new vessels and green fuels. 

ABOUT PROLOGIS
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, 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 1.2 billion square feet (115 million square meters) in 19 countries. Prologis leases modern logistics facilities to a diverse base of approximately 6,700 customers principally 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," and "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, acquisition and 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 earn revenues from co-investment ventures, 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) international, national, regional and local economic and political climates and conditions; (ii) changes in global 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, including the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust status, tax structuring and changes in income tax laws and 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; (x) risks related to global pandemics; and (xi) 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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SOURCE Prologis, Inc.