Prologis Announces Major EV Truck Installations in Southern California

Mobility Solution Helps Customers Electrify Commercial Fleets

SAN FRANCISCO, Nov. 15, 2022 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD), the global leader in logistics real estate, today unveiled two significant electric truck charging installations as part of its Prologis Mobility platform. The two charging sites will enable Performance Team, a leading national logistics company, to simultaneously charge up to 38 of its Volvo VNR Electric Class 8 battery-electric trucks.

Prologis is helping its customers transition their commercial fleets to zero emissions transportation, spanning heavy duty trucks (18 wheels) to last-mile vans. With more than 1.2 billion square feet of logistics properties around the globe, deep development expertise and relationships with some of the world's largest brands, the company is uniquely positioned to help accelerate the adoption of electric fleets. Prologis Mobility integrates energy supply with charging infrastructure, installation, operations and fleet management software without any upfront costs. 

"Fleet electrification is a major priority for our customers and, as part of our Essentials platform, Prologis Mobility offers a turnkey solution that simplifies the transition to zero emissions vehicles," said Prologis Co-founder and CEO Hamid R. Moghadam. "This unique offering allows our customers to focus on their core business while making progress on their sustainability goals."

Debuts Nation's Largest Commercial Truck Charging Installations
Prologis and Performance Team are working together to install EV charging infrastructure in several large U.S. industrial markets. The companies started in Southern California, home to two of the nation's busiest ports.

Today, two large installations are up and running, energizing a total of 38 new electric trucks that are reducing noise and emissions on Southern California roadways. The projects – one in Sante Fe Springs and the other in the City of Commerce – provide more than 4 megawatts of total installed charging capacity.

Santa Fe Springs – Located at a non-Prologis-owned logistics facility, this project went live in late summer 2022 with the capacity to charge 16 trucks at once. Drivers have already clocked nearly 100,000 miles running short haul trips in the Los Angeles market. Because charging happens right at the warehouse, trucks do not have to be diverted for fueling outside of their most optimal routes, saving time and energy.

Commerce Transport Center – The newest project to come online, the Commerce Transport Center, started operations in late October, well within a year of initial project design. The project is estimated to provide Performance Team with more than 4 million kWh of energy annually to fuel 22 trucks. Prologis Mobility managed the design and installation of the project, as well as the engagement with the local utility, Southern California Edison, greatly simplifying the process for Performance Team.

"We'd like to thank our logistics real estate partner Prologis for their efforts to support our decarbonization strategy goals. These new charging stations will enable faster turn times of our electric fleet while in our distribution centers and optimize our route deployment in sustainable ways," said Jason Walker, chief operating officer of Performance Team.

Simple, Fast and Everywhere
Prologis Mobility leverages deep internal expertise in EV, utility engagement and industrial real estate development to deliver innovative solutions with simple usage-based pricing:

• Comprehensive Solution in a Simple Model: The turn-key solution includes design and construction, hardware, energy procurement, 24/7 operations monitoring and maintenance.
• Compelling Economic Model with No Upfront Costs: The Infrastructure-as-a-Service model means no upfront expenditures for customers.
• Rapid Deployment: From utility engagement to entitlement and permitting - and everything in-between, projects are commissioned fast and seamlessly.
• Serving Customers Where They Operate: Prologis Mobility works within the company's portfolio as well as with third-party landlords. Additionally, Prologis is developing stand-alone hubs to provide broader coverage across multiple short-haul, last mile and internodal truck routes.

"Logistics real estate can and will play a critical role in the move toward a carbon-free transportation future," said Henrik Holland, global head of Prologis Mobility. "Prologis is enabling the transition with a simple, fast solution for our customers' electrification needs as they look to zero-emission fleets."

In addition to helping the logistics industry with its transition to electric vehicles, the Prologis Mobility team is working on other options of sustainable energy, such as hydrogen fuel-cell vehicles and Compressed and Renewable natural gas (CNG/RNG). 

California and New York to Businesses: "All new trucks to be zero emissions by 2045"
The move to EV within commercial trucking is driven by forces in both the public and private sectors. On the public side, the State of California has a target of 100 percent of passenger and light-duty truck sales to be zero-emissions by 2035, medium and heavy-duty trucks by 2045 and drayage trucks by 2035. California is the first in the world to require heavy-duty manufacturers to transition to zero-emissions by 2045. The State of New York has set similar goals. 

At the same time, more and more logistics companies are setting ambitious sustainability objectives, including net zero goals. Prologis teams work hard to understand their customers' businesses, including their sustainability goals. With that knowledge, the company brings a wide variety of climate-friendly solutions to the table, including EV, renewable energy, smart buildings, sustainable construction technologies and more.

For businesses looking for more information on Prologis Mobility, please reach out to the team by contacting Dan Loflin, head of commercial, Prologis Mobility ([email protected]; 415-733-9466).

For information on Prologis' business strategies and accomplishments, click here for the company's latest investor presentation for the 2022 NAREIT's REITWorld Conference.

Reporters: Photo assets can be found here.

About Prologis
Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of September 30, 2022, 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 1.0 billion square feet (97 million square meters) in 19 countries. Prologis leases modern logistics facilities to a diverse base of approximately 5,800 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, 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 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) national, international, regional and local economic and political climates; (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; (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 the current coronavirus pandemic; 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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