FIBRA Prologis (FIBRAPL 14) investor relations material

Market trends and growth drivers

• E-commerce in Mexico is projected to grow at 20% annually from 2026 to 2028, requiring three times more logistics space than traditional retail.

• Consumer household growth in Mexico's major cities is outpacing the U.S., supporting increased demand for logistics real estate.

• Manufacturing demand is rising, with capital formation in machinery and equipment increasing and U.S. imports from Mexico growing.

• Market vacancy rates remain low, with a 7% average as of 2Q26, and e-commerce continues to drive absorption.

Portfolio and operational highlights

• Assets under management reached $9.5B, with 352 buildings and 348 customers as of June 2026.

• Operating in six key Mexican markets, the portfolio covers 66.6 million square feet with occupancy rates above 95%.

• Customer base is diversified across industries, with 81.5% being multinational companies and top 10 customers accounting for 24.6% of net effective rent.

• Portfolio has grown at a 6.9% CAGR in gross leasable area since IPO, reaching 65.9 million square feet by mid-2026.

Financial performance and stability

• Net operating income for 2Q26 was $152M, with a BBB+ credit rating and $1,146M in liquidity.

• Loan-to-value ratio stands at 24.7%, with a fixed charge coverage ratio of 4.3x and weighted average debt maturity of 6.4 years.

• Adjusted EBITDA, NOI, FFO, and AFFO have all grown at double-digit CAGRs since 2015.

• Distributions per CBFI have increased at a 6.7% CAGR since IPO, with a 2026E payout of $0.17 per CBFI.