THE SHARE OPTION EXCHANGE PROGRAM (THE “OFFER”) IS SCHEDULED TO EXPIRE
ON FRIDAY, JULY 9, 2010 AT 6:00 A.M., U.S. MOUNTAIN TIME.
The Offer is described in the Offer to Exchange Certain Outstanding Share Options for Restricted Share Units or
Cash (the “Offer to Exchange”), the email from Walt Rakowich dated June 10, 2010 announcing the Offer, and
the election form which is an attachment to this memo, together with its associated instructions. These and other
related documents are available on the ProLogis Offer website at https://prologis.equitybenefits.com . As
described in the Offer to Exchange, share options may be exchanged for a lesser number of Restricted Share
Units (“RSUs”), or cash if you are subject to tax in Canada, based on exchange ratios determined after the close
of the last trading day immediately prior to the day the Offer expires. Preliminary exchange ratios were provided
in the Offer to Exchange and final exchange ratios are provided below.
FINAL EXCHANGE RATIOS
The final exchange ratios were determined by dividing $10.01 (the closing sales price of our common shares on
the New York Stock Exchange today) by the lowest fair value of an eligible option in the applicable tier (as such
tiers are set forth in the table below). For this purpose, the applicable tier is the tier that contains the per share
exercise price of your eligible option. The fair values of the eligible options were determined today based on the
Black-Scholes option pricing model. The final exchange ratios are as follows:
From: Stock Plan Administration
Date: July 8, 2010
Re: Share Option Exchange—Final Exchange Ratios
If you have previously made an election with respect to your eligible share options and do not wish
to change your election, no action is necessary.
If you have not previously made an election with respect to your eligible share options or if you wi