FIBRA Prologis (FIBRAPL 14) Investor presentation summary

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, with sales among the fastest growing globally at 10.1% in 2025.

• Consumer household growth in key Mexican 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.

Portfolio and operational highlights

• Assets under management reached $9.5B, with 350 buildings and 350 customers across six major Mexican markets, maintaining a 97% occupancy rate.

• The customer base is diversified, with 81.4% multinational tenants and a mix of industries including 3PL, manufacturing, and e-commerce.

• Market vacancy was 6.9% as of 1Q26, with expectations for stability through 2026.

Financial performance and guidance

• NOI, EBITDA, FFO, and AFFO have grown at CAGRs of 13–16% since 2015, with distributions per CBFI showing a 7% CAGR since IPO.

• 2026 guidance includes FFO per CBFI of $0.24–$0.26, year-end occupancy of 96.5–98.5%, and a distribution of $0.17 per CBFI.

• Strong balance sheet with BBB+ ratings, 25% loan-to-value, 4.4x fixed charge coverage, and $1.07B liquidity.