a2q18earningsdecka01c

!"#$%&"'$%(%&)*+%%$,"(+%- !"#$%&'()(*')+%,-./+0. 1/+2%!3#$ Digital Realty the trusted foundation | powering digital ambitions

()4'5)0'(5%06-%&/0/,- !.-"/(%/01$)2#+3"')4+#)*.-"+5$#-6)!'/#$'+17$#-)8)95:1+;$$-) 5+78)+ *7((-*0-9 ./.0)'()8+- !"#$%9'5'0)+%,-)+02% &'()(*')+%,-./+0. !

.-,4'(5%)%.7*')+%:/,:7.- <$1(=$#(%&)!.-"/(%/01$)2#+3"')4+#)>11)!"/?$'+17$#-) 9DNFEODP9DG>H !O*F>H 2ON9ED>D*9 @ABQ)2#$$%)H$/-$) H$/7$#)#$,+&%("(+%)4#+5) *+55(""$7)"+)$%'/%,(%&)"'$)3$11T P(%(5.5)-"+,?) "'$)FPG)/%7)RS!S) 0$(%&)+4)+.#)-"+,?'+17$#-6) +3%$#-'(:)#$U.(#$5$%"-) DOE’sJBK I$""$#)I.(17(%&-) ,.-"+5$#-6)$5:1+;$$-6)=$%7+#-6) @ABV (%-"("."$7)4+#)7(#$,"+#-) >11(/%,$ /%7),+55.%("($- /%7)5/%/&$5$%") @ABC)D>E9FG) H$/7$#)(%)"'$)H(&'") >3/#7)4+#)</"/)*$%"$#- <(-/-"$#)#$,+=$#;)/--(-"/%,$)/%7) O%&+(%&)0+/#7) ,+55.%(";)#$(%=$-"5$%") @ABC #$4#$-'5$%" :#+&#/5- “Green Star” ranking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

&',D%&/(9)D-(0)+. E+0.-")<$5/%76)E/"(+%/1)!.::1; DOEGW)>P9EF*> 9P9> >M>* !UP3P #U$]$ ]`` #U3P$ b3_ bb] !"#_ !"#$ !"#_ !"#$ !"#_ !"#$ P92>Z>GG!)*OPPF!!FOD9<JB6@K P92>Z>GG!)*OPPF!!FOD9<JB6@K P92>Z>GG!)*OPPF!!FOD9<JB6@K ^ $]^ ^ $P^ ^ ]a^ ]# 9'5'0)+ ]# 9'5'0)+ ]P 9'5'0)+ ,-5'7( ,-)+02 ,-5'7( ,-)+02 ,-5'7( ,-)+02 O**RM>D*X)E>G9) J@YBQKJBK O**RM>D*X)E>G9) J@YBQKJBK O**RM>D*X)E>G9) J@YBQKJBK !N$Y 3N_Y #N`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`

9-+'4-,'(5%./:-,'7,%,'.cW)91/.0-9%,-0/,(. F%=$-"(%&)O::+#".%(-"(,/11;)"+)9L:/%7)"'$)21+0/1)M1/"4+#5 HGP)@YBC HOD2TG9EP)N>HR9)*E9>GFOD HGP)@YBQ ME9TH9>!FD2) J[K @YBC ]^[ @YBQ \@[ H9>!9 G9EP) JX$/#-K @YBC \ @YBQ Q *E9<FG) YR>HFGX)J[)F%=$-"5$%")2#/7$KB @YBC ]A[ @YBQ _A[ .:,-)9%74-,% *7.0%7&%*):'0)+ +7(5-,%+-).-%0-,D g! MAEF= .:,-)9%74-,% I!; *7.0%7&%*):'0)+ 5,7e06%'(%877c'(5. d#N_%8< fd#33HH 070)+%*7(0,)*0%4)+/-I!; d3N_%8< -*7(7D'*%4)+/-W)99-9 070)+%*7(0,)*0%4)+/-I!; DAE<?<LC@S #; 8E=AJ%B<%>BK%!3%Q@=>BHAF=%E=%JA>AFH?<AJ%VM%E<<@ES?hAJ%VE=A%FA<>%CBF%>RA%EKKS?QEVSA%KAF?BJN%'<\A=>HA<>%LFEJA%?<QS@JA=%?<\A=>HA<>%LFEJA%FE>AJ%Q@=>BHAF=%E<J%Ai@?\ESA<>%Q@=>BHAF=N% *@=>BHAF%QFAJ?>%FE>?<L%VE=AJ%B<%>RA%KEFA<>%A<>?>MU%E=%EKKS?QEVSAN% !; -YQS@JA=%<B<W>AQR<?QES%E<J%?<>AFQB<<AQ>?B<%=?L<?<L=N !"#$%9'5'0)+%,-)+02% &'()(*')+%,-./+0. a

./::7,0'4-%-*7(7D'*%5,7e06%7/0+77c% H$=$#$7)"+)H+%&TG$#5)!$,.1/#)<$5/%7)<#(=$#- BYBQ)*>HH *REE9DG I$""$#` !"#$%&'()&'*+, -.%/&'()&'*+, Z+#-$ @ABQ9 @AB^9 21+0/1)2<M)2#+3"')a+#$,/-")JBK @ABQ9b)]S^[ @ABQ9b)]S^[ tu ]S^[ ]S^[ RS!S)2<M)2#+3"')a+#$,/-")JBK @ABQ9b)@S^[ @ABQ9b)@S^[ tu @S^[ @SC[ RS!S)R%$5:1+;5$%")E/"$)J@K _SB[ _SA[ q ]S^[ ]S\[ F%41/"(+%)E/"$) – RS!S)>%%./1)*MF)F%7$L)J@K @S_[ @SQ[ p @SV[ @S][ *#.7$)O(1)Jc`0/##$1K J]K c\Q) c\^) p c\\) c\V) P>*EO9*ODOPF* *+%"#+1)+4) Z'("$)W+.-$6)!$%/"$)/%7) W+E)J_K E6E6E E6E6E tu E6E6E E6E6E G'#$$TP+%"')H(0+#)JR!<K) J@K @S_[ @S][ q @S\[ ]S@[ E>G9! BATX#)RS!S)G#$/-.#;) X($17 J@K ]SA[ ]SA[ tu ]SB[ ]S_[ 2IMTR!<) J@K BS]^ BS]@ q BS]_ BS_@ FDG9E9!G 9RETR!< J@K BS@@ BSBC q BSBQ BS@\ !8M)VAA)J@K @6\]^)JXG<)TASC[Kd)M`9b)@AS^L @6Q_\)JXG<)CS\[Kd)M`9b)@BS]L p BCSQL B\SBL D>!<>Y)BAA)J@K \6VB_)JXG<)@SB[Kd)M`9b)@VSAL C6VA^)JXG<)BQSA[Kd)M`9b)@CSBL p @BSQL B^S]L 9YRFGF9! EPe)J@KJVK B6A]_)JXG<)T^SV[Kd)M`>aaO)B\S_L B6B_B)JXG<)AS^[Kd)M`>aaO)BQSAL p BQSAL BCS]L FG)!:$%7(%&)2#+3"')Z+#173(7$)J\K @ABQ9b)]S@[ @ABQ9b)]SA[ q ]SA[ @SQ[ !$#=$#)!'(:5$%")Z+#173(7$)JCK @ABQ9b)CSV[ @ABQ9b)CSC[ p CSV[ @S][ 21+0/1)</"/) *$%"$#)"+)</"/) *$%"$#)FM)G#/44(,) JQK *>2E)@AB\)T @A@B9b)@V[ *>2E)@AB\)T @A@B9b)@V[ tu *>2E)@AB\)T @A@B9b)@V[ FD<R!GEX 21+0/1)*1+.7)FM)G#/44(,) JQK *>2E)@AB\)T @A@B9b)@C[ *>2E)@AB\)T @A@B9b)@C[ tu *>2E)@AB\)T @A@B9b)@C[ #; 'D&%eBFSJ%-QB<BH?Q% 7@>SBBG%W )KF?S% !3#$%E<J%1@SM%!3#$ a; *?>?%'<\A=>HA<>%,A=AEFQR%W )KF?S% !3#$%E<J%1@SM%!3#$ !; 8SBBHVAFL b; 5EF><AFX%%'0%.KA<J?<LU%eBFSJT?JA% IQB<=>E<>% Q@FFA<QM;U%DEM%!3#$ P; 8SBBHVAFLU% (2%DAFQE<>?SA% -YQRE<LA%e0'%*F@JA%7?S%I&FB<>%DB<>R; _; 5EF><AFX%.AF\AF=%&BFAQE=>%eBFSJT?JAU% )KF?S%!3#$%E<J%1@SM%!3#$ `; ,AES*SAEF:BS?>?Q=% !3#$%-SAQ>?B<% :BSS%W 1@SM%!3#$ $; *?=QB%5SBVES% *SB@J% '<JAYX%&BFAQE=>%E<J%DA>RBJBSBLMU%!3#bW!3!#%W &AVF@EFM%!3#$ !"#$%9'5'0)+%,-)+02% &'()(*')+%,-./+0. b

./((2%&7,-*).0%&7,%*+7/9%5,7e06 21+0/1)F%"$#,+%%$,"$7)M1/"4+#5)M+(-$7)"+)*/:("/1(f$ cBQ\)8?SS?B< AYKAQ>AJ%=KA<J%B<%K@VS?Q%QSB@J% CA[ cC_ 8?SS?B<% c_B)8?SS?B< =AF\?QA=%LSBVESSM%?<%!3#$% I!; BC%BFLE<?hE>?B<=%EFA% B\AFESS%K@VS?Q%QSB@J% B\AFESS%K@VS?Q%QSB@J% HEG?<L%=?L<?C?QE<>%BF% =KA<J?<L%>RE>%T?SS%LB%>B% =KA<J?<L%>RE>%T?SS%LB%>B% I!; I!; HBJAFE>A%?<\A=>HA<>=% .EE.%?<%!3#$ 'EE.%?<%!3#$% ?<%QSB@J%I#; c@CC8?SS?B< AYKAQ>AJ%=KA<J%B<%K@VS?Q%QSB@J% =AF\?QA=%TBFSJT?JA%?<%!3!#% IP; #; .B@FQAX%!3#$%6EF\AM%(E=Rjc:D5%*'7%.@F\AMN% !; .B@FQAX%5EF><AFZ%)KF?S%#!U%!3#$N P; .B@FQAX%'9*Z%1E<@EFM%#$U%!3#$N !"#$%9'5'0)+%,-)+02% &'()(*')+%,-./+0. _

a(%/%,(/1)E$-.1"- !"#$%9'5'0)+%,-)+02% &'()(*')+%,-./+0. $

+/D:2%8/0%6-)+062 *+5:#$'$%-(=$)!+1."(+%-)!.::+#")<(=$#-$)*.-"+5$#)I/-$ 6'.07,'*)+%877c'(5.% )((/)+'m-9%5)):%8).-%,-(0I#;I!; 0&$1&2$%%$314 d#33 d_a da3 d!a d3 !33] !3#3 !3## !3#! !3#P !3#` !3#a !3#b !3#_ !3#$ !"#$%877c'(5.%82%:,79/*0I#;I!; d_$NP%HH d3N3%HH d_Na%HH d3Nb%HH d_Nb%HH d]`N3%HH 0/,(Wc-2% :7e-,-9 8).-% *7+7*)0'7( (7(W0-*6('*)+ '(0-,*7((-*0'7( 070)+%877c'(5. &+-kl 8/'+9'(5l (B>AX%9EFGAF%=REJ?<L%FAKFA=A<>=% ?<>AFQB<<AQ>?B<% VBBG?<L=N% #; 5)):%FA<>ES% FA\A<@A=%?<QS@JA% >B>ES% FA<>%CBF%<AT%SAE=A=%E<J%AYKE<=?B<=N% 0RA%>?H?<L%VA>TAA<%SAE=A%=?L<?<L%E<J%SAE=A%QBHHA<QAHA<>% IE<J%FAQA?K>% BC%FA<>=;%HEM%VA%=?L<?C?QE<>N !; '<QS@JA=%=?L<?<L=%CBF%<AT%E<J%FAWSAE=AJ%=KEQAN%%% !"#$%9'5'0)+%,-)+02% &'()(*')+%,-./+0. ]

-k0-(9'(5%*/.07D-,%,-)*6%06,7/56%)++')(*-. G'#$$)R%(U.$)O:"(+%-)4+#)*+%%$,"(%&)"+)FIP)*1+.7 <(&("/1)E$/1";),/%):#+=(7$)/,,$--)"+)"'$)FIP)*1+.7)4#+5)C_)21+0/1)H+,/"(+%-)(%)@B)P$"#+-)/,#+--)4+.#)*+%"(%$%"- <(#$,")H(%?)<$7(,/"$7)W+-"(%& <(#$,")H(%?)<$7(,/"$7 <(#$,")H(%?)*+%%$," /S>FE%SE>A<QMW=A<=?>?\A%TBFGSBEJ=U%R?LRW\ES@A% -<>AFKF?=AWQSE==%TBFGSBEJ=%n%KAFCBFHE<QA% .QESEVSA%E<J%CSAY?VSA%KF?\E>A%.9(%QB<<AQ>?\?>MU% BT<AJ%?<CFE=>F@Q>@FAU%R?LRSM%=A<=?>?\A%JE>E% FAi@?FAHA<>=U%SE>A<QM%=A<=?>?\A%EKKS?QE>?B<=% BK>? H? hAJ%CBF%= >E<JEFJ%TBFGSBEJ=%A<E VS?<L%E %H@S>?% >FE<=EQ>?B<= @>?S?h?<L%KF?\E>A%JAJ?QE>AJ%QB<<AQ>?\?>M% A<JWKB?<>%?<>AFCEQA% P$"#+ FIP)<*)*+7$ FIP)<*) <HE) P$"#+ FIP)<*)*+7$ P$"#+ P$"#+ <HE)*+7$ P$"#+ *+7$ *+7$ )=RV@F< e9*3PU%e9*3` e9*3PU% )=RV@F< ')9P$ :RBA<?Y :6k#3 )=RV@F< +B<JB< +7(3! e9*3` 9ESSE= 9)+3$U 9)+3]U%9)+#! )>SE<>E )0+# :BF>SE<J :9k#3 )>SE<>E )0+3# )H=>AFJEH )D.3# .E<>E *SEFE .1*3#U%.1*3P% 8B=>B< 87.#` .AE>>SA .-)# I#; 9)+3`U 9)+3$U .&,!U% 0BFB<>B 07,3# 9ESSE= DASVB@F<A D-+3# *R?QELB 7,9#3U%7,9## .E<>E%*SEFE 9)+3]U%9)+#! .*+! 9&e#3U% +B<JB< +7(3! 9ESSE= )H=>AFJEH )D.#_ 9&e## (AT% (2*3# .?<LEKBFA .(53# DASVB@F<A D-+3# 2BFG +B=%)<LASA= +)k#3 9@VS?< I&@>@FA; .E<>E .?<LEKBFA .(53# .1*3#U%.1*3P% 6B<L%cB<L 6c53! *SEFE D?EH? D')# &FE<GC@F> &,)## 6B<L%cB<L 6c53! 0BFB<>B 07,3# .MJ<AM .293` (AT%2BFG (2*#U%1&c#3 +B<JB< +6,!3 #; *BSBQE>?B<% QB<>FEQ>AJ% >RFB@LR% .@<LEFJ%).%?<%9?L?>ES%,AES>M%JE>E%QA<>AFN !"#$%9'5'0)+%,-)+02% &'()(*')+%,-./+0. #3

07:W+'(-%.0-:%&/(*0'7( W$/1"';)0/,?1+&)-$"-)/)-+1(7)4+.%7/"(+% 8)*c+75%,7++W&7,e),9 *7DD-(*-D-(0%0'D'(5 0&$1&2$%%$314 0&$1&2$%%$314 #"#$%8EQGSBL .?L<?<L= *BHHA<QAHA<>= !"#$%8EQGSBL *@FFA<>%:AF?BJ%8EQGSBL 0B>ES%8EQGSBL d$b d_3 d$% d#`! d#`!% dP`% d#!b d#33 P"#$ `"#$ #"#$%8EQGSBL .?L<?<L= *BHHA<QAHA<>= !"#$%8EQGSBL !3#$ !3#] !3!3g 0B>ES%8EQGSBL (B>AX% 0B>ES=%HEM%%EJJ%@K%J@A%>B%FB@<J?<LN% %)HB@<>=%=RBT<% FAKFA=A<>%5)): E<<@ES?hAJ%VE=A%FA<> CFBH%SAE=A=%=?L<AJU%V@>%%MA> QBHHA<QAJU%E<J%EFA%VE=AJ%B<%Q@FFA<>% A=>?HE>A=%BC%C@>@FA%SAE=A% QBHHA<QAHA<>% >?H?<LN%%%)Q>@ES%FA=@S>=%HEM%\EFM%CFBH%Q@FFA<>% A=>?HE>A=N 0RA%SEL%VA>TAA<%SAE=A%=?L<?<L%E<J%SAE=A%QBHHA<QAHA<>% IE<J%FAQA?K>% BC%FA<>=;%HEM%VA%=?L<?C?QE<>N% %,ACSAQ>=%AYKAQ>AJ% QBHHA<QAHA<>% JE>A%E>%>?HA%BC%=?L<?<LN !"#$%9'5'0)+%,-)+02% &'()(*')+%,-./+0. ##

*2*+'(5%06,7/56%:-)c%4'(0)5-%,-(-e)+.% M+-("(=$)P/#?T"+TP/#?$")>,#+--)>11)M#+:$#";)G;:$- @YBQ)E9TH9>!FD2)!ME9><! 0/,(Wc-2 &+-kl :7e-,-9%8).-%8/'+9'(5l% *7+7*)0'7( 070)+ E9DG>H) E>G9)*W>D29 E9DG>H) E>G9)*W>D29 E9DG>H) E>G9)*W>D29 E9DG>H) E>G9)*W>D29 `N_^ PN3^ !N$^ PN`^ *).6 *).6 *).6 *).6 #3Na^ #aN#^ !N$^ aN$^ 5)): 5)): 5)): 5)): .?L<AJ%FA<ATES%SAE=A=% ,A<ATAJ ,A<ATAJ ,A<ATAJ FAKFA=A<>?<L% d!_%H?SS?B<% dP%H?SS?B<% d``%H?SS?B<% d_b%H?SS?B<% 0@F<WcAM%&SAYl% :BTAFAJ%8E=A%8@?SJ?<Ll% *BSBQE>?B< BC%E<<@ES?hAJ%5)):% E<<@ES?hAJ%5)):% E<<@ES?hAJ%5)):% E<<@ES?hAJ%5)):% FA<>ES%FA\A<@AI#; FA<>ES%FA\A<@A FA<>ES%FA\A<@A FA<>ES%FA\A<@A (B>AX%0B>ES%FAKFA=A<>=%0@F<WcAM%&SAYlU%:BTAFAJ% 8E=A%8@?SJ?<LlU% *BSBQE>?B<U% E<J%(B<W0AQR% SAE=A=%=?L<AJ%J@F?<L%>RA%i@EF>AF% A<JAJ%1@<A%P3U%!3#$N #;%%0B>ES%?<QS@JA=% d!%H?SS?B<% BC%(B<W0AQR% E<<@ES?hAJ%5)):%FA<>ES%FA\A<@AN !"#$%9'5'0)+%,-)+02% &'()(*')+%,-./+0. #!

:/00'(5%-k:7./,-%'(%:-,.:-*0'4- I$%$4("-)+4)!,/1$)/%7)<(=$#-(4(,/"(+%)+%)<(-:1/; -k:7./,-%82%,-4-(/- !3#$%*7,-%&&7j.6),-%-k:7./,- /.9 *)9 58: -/,7 1:2 6c9 .59 )/9 3NP^ 8-(*6D),c% #^ #3^ ,)0-.% gjW #33%VK= `^ $#^ 3^ D?JKB?<>%BC% 3NP^% 3N#^ 5@?JE<QA% dbNaa%– dbNbaI#; 58: -/, 3^ gjW #3^ gjW #3^ P^ #^ 2-),W07W9)0-%*6)(5-%'(%'(0-,-.0%,)0-.I!; /N.N%97++),%'(9-k @YBC @YBQ \V)0:- __)0:- '(*,-).- '(*,-).- /.9%0RFAAWDB<>R%+?VBF #3W2AEF%/N.N%0FAE=@FM .B@FQAX%&EQ>.A>N #; 8E=AJ%B<%>RA%H?JKB?<>% BC%!3#$%QBFA% &&7%KAF%=REFA%L@?JE<QA%BC%dbNaa%– dbNbaN !; 8E=AJ%B<%QRE<LA%?<%M?ASJ=%CFBH%1E<@EFM%#U%!3#$%>B%1@<A%P3U%!3#$N !"#$%9'5'0)+%,-)+02% &'()(*')+%,-./+0. #P

*7(.'.0-(0%-k-*/0'7(U%./.0)'()8+-%5,7e06 W(&')Y./1(";)+4)9/#%(%&-)3("')M#+=$%)2#+3"')M#+4(1$ 7:-,)0'(5%,-4-(/- )91/.0-9%-8'09)I#; g ^ PP^ a^ P]^ b^ _Nb 5FBT>R%I?<QSN%9&0; 5FBT>R%IAYQS N%9&0; 5FBT>R%I?<QSN%9&0; 5FBT>R%IAYQSN%9&0; *BFA%&&7j=R !"#$% j%!"#_ !"#$% j%!"#_ !"#$% j%!"#_ !"#$% j%!"#_ !"#$%j%!"#_% 0&$1&2$%%$314 0&$1&2$%%$314 cC]B cC__ cCVV g_Na^ c_VB c_VQ c\BA c_@Q cVVB cV\\ *BFA%&&7j=R c]V@ I!;% c]@] c]@^ !3#$- j%!3#_ dbNaa%W dbNba *BFA%&&7j=R !3#$%5@?JE<QA% BYBC @YBC ]YBC _YBC BYBQ @YBQ BYBC @YBC ]YBC _YBC BYBQ @YBQ (B>AX%)J[@=>AJ%-8'09)%E<J%QBFA%&&7%EFA%<B<W5)):%C?<E<Q?ES% HAE=@FA=N%%&BF%E%JA=QF?K>?B<% BC%>RA=A%HAE=@FA=U%=AA%>RA%)KKA<J?YN% #; (A>%?<QBHA%CBF%>RA%i@EF>AF% A<JAJ%1@<A%P3U%!3#$%TE=%d$$%H?SS?B<N% %(A>%?<QBHA%CBF%>RA%i@EF>AF% A<JAJ%1@<A%P3U%!3#_%TE=%d$3%H?SS?B<N !; D?JKB?<>% BC%!3#$%5@?JE<QA% @=AJ%CBF%*BFA% &&7j=REFA%A=>?HE>AN% !"#$%9'5'0)+%,-)+02% &'()(*')+%,-./+0. #`

&7/,%"/),0-,%0e7W.0-: I$/"6)I$/"6)<(:6)I+.%,$ @ABQ9)*OE9)aaO)M9E)!W>E9 #"#$) !"#$) (7'%5FBT>R '<>AFA=>%-YKA<=A )==A>%.ESA= P"#$- +AE=A `"#$- *BHHA<QAHA<>= (B>AX%%8E=AJ%B<%HE<ELAHA<>%A=>?HE>A=Z%EQ>@ES%KAFCBFHE<QA% HEM%J?CCAF%HE>AF?ESSMN%% *BFA%&&7%E<J%(7'%EFA%<B<W5)):%C?<E<Q?ES% HAE=@FA=N% &BF%JA=QF?K>?B<=% E<J%FAQB<Q?S?E>?B<=% >B%>RA%QSB=A=>%5)):%Ai@?\ESA<>=U%KSAE=A%=AA%>RA%)KKA<J?YN%% !"#$%9'5'0)+%,-)+02% &'()(*')+%,-./+0. #a

D)0*6'(5%06-%9/,)0'7(%7&%)..-0.%)(9%+')8'+'0'-. *1$/#)E.%3/;)+%)"'$)H$4"6)D+)I/#)G++)G/11)+%)"'$)E(&'") 9-80%D)0/,'02I#; 9-80%:,7&'+- I/.9%?<%V?SS?B<=; ^ /<=AQ@FAJ 2-),. ^ ]] (B%DE>AF?ES% a PNa /<=AQ@FAJ .AQ@FAJ DE>@F?>?A=% eA?LR>AJ%)\AFELA% eA?LR>AJ% I#;I!; I#; @<>?S%!3!3 9AV>%DE>@F?>M )\AFELA%*B@KB< c@SA) $$^ &?YAJ &?YAJ &SBE>?<L cBS]) cBSA) cBSB) cBSA) cBSA) cASQ) cASC) cASV) /.9 cASB) 58: cASB) cASA) b#^ -@FB @ABQ @AB^ @A@A @A@B @A@@ @A@] @A@_ @A@V @A@\ @A@C @A@Q @A@^ /.9 :FB%,E>E%.REFA%BC%14%9AV> /<=AQ@FAJ%0AFH%+BE< /<=AQ@FAJ%.A<?BF%(B>A= 7>RAF /<=AQ@FAJ%*FAJ?>%&EQ?S?>M /<=AQ@FAJ%5FAA<%8B<J= .AQ@FAJ%DBF>LELA%9AV> (B>AX%)=%BC%1@<A P3U%!3#$ #; Includes Digital Realty’s pro rata share of four unconsolidated joint venture loans. !; )==@HA=%AYAFQ?=A%BC%AY>A<=?B<% BK>?B<=N !"#$%9'5'0)+%,-)+02% &'()(*')+%,-./+0. #b

*7(.'.0-(0%-k-*/0'7(%7(%.0,)0-5'*%4'.'7( <$1(=$#(%&)*.##$%")E$-.1"-6)!$$7(%&)a.".#$)2#+3"' ./**-..&/+%.-*7(9%"/),0-,%!3#$%'('0')0'4-. HH #N 9AAKA<?<L%*B<<AQ>?B<=%T?>R%*@=>BHAF=% d]`% !"#$%0B>ES%8BBG?<L= ,AEQRAJ%R?LRWTE>AF%HEFG%CBF%VBBG?<L=%E<J%VEQGSBL !N%-Y>A<J?<L%.@=>E?<EV?S?>M%+AEJAF=R?K% HH (EHAJ%!3#$%5FAA<%+AE=A%+AEJAF d#`!% !"#$%0B>ES%8EQGSBL PN -YQAAJ?<L%-YKAQ>E>?B<= 8AE>%i@EF>AFSM%QB<=A<=@=%A=>?HE>A=U%FE?=AJ%C@SSWMAEF%B@>SBBG ao *BFA%&&7j=R%8AE>%n%,E?=A `N%.>FA<L>RA<?<L%>RA%8ESE<QA%.RAA>% 0AFHAJ%B@>%FA\BS\AF%VBFFBT?<L=%T?>R%SB<LW>AFH%QBFKBFE>A%VB<J= dba3%HH .A<?BF%/<=AQ@FAJ%(B>A= !"#$%9'5'0)+%,-)+02% &'()(*')+%,-./+0. #_

>::$%7(L !"#$%9'5'0)+%,-)+02% &'()(*')+%,-./+0. #$

,78/.0%+7(5W0-,D%9-D)(9U%+/D:2%(-),W0-,D%.'5('(5. <(=$#-$)*.-"+5$#)I/-$)g)M#+7.,")O44$#(%&- 6'.07,'*)+%877c'(5.%0,)'+'(5%&7/,W"/),0-,%)4-,)5- )((/)+'m-9%5)):%8).-%,-(0I#;I!; 0&$1&2$%%$314 cQA c\A c_A c@A cA !33] !3#3 !3## !3#! !3#P !3#` !3#a !3#b !3#_ !3#$ !"#$%0,)'+'(5%&7/,W"/),0-,%)4-,)5- 877c'(5.%82%:,79/*0I#;I!; da3N]%HH d#N!%HH d_N!%HH d3N_%HH d_N!%HH db_NP%HH 0/,(Wc-2% :7e-,-9 8).-% *7+7*)0'7( (7(W0-*6('*)+ '(0-,*7((-*0'7( 070)+%877c'(5. &+-kl 8/'+9'(5l (B>AX%%9EFGAF%=REJ?<L%FAKFA=A<>=% ?<>AFQB<<AQ>?B<% VBBG?<L=N% #; 5)):%FA<>ES% FA\A<@A=%?<QS@JA% >B>ES% FA<>%CBF%<AT%SAE=A=%E<J%AYKE<=?B<=N% 0RA%>?H?<L%VA>TAA<%SAE=A%=?L<?<L%E<J%SAE=A%QBHHA<QAHA<>% IE<J%FAQA?K>% BC%FA<>=;%HEM%VA%=?L<?C?QE<>N !; '<QS@JA=%=?L<?<L=%CBF%<AT%E<J%FAWSAE=AJ%=KEQAN%%% !"#$%9'5'0)+%,-)+02% &'()(*')+%,-./+0. #]

9'5'0)+%,-)+02%'.%06-%-95- D$"3+#?)<$%-(";)G'/")M#+5+"$-)F%%+=/"(+%)/%7)*+11/0+#/"(+% #! ? g #3 _b #b33 )..-0. *'0'-. *,7..W*7((-*0. (-0e7,c%'(.0)(*-. 21+0/11;)Z'$#$)O.#) 5+78)++2 5+78)++2 Z("')O=$#)@6AAA) F%"$#%$")2/"$3/;-) *#+--T*+%%$,"-)9/,' >#$)H+,/"$7 VA6AAAg)*#+--T*+%%$,"-)/%7)\]Ag)D$"3+#?-b BBB)Q"' >N9DR9 \A)WR<!OD V\)P>EF9GG> ]VA)9S)*9EP>h !ON9E9F2D)WOR!9 !*F9D*9)M>Eh !"#$%9'5'0)+%,-)+02% &'()(*')+%,-./+0. !3

)::-(9'k P/%/&$5$%")!"/"$5$%"-)+%)D+%T2>>M)P$/-.#$- 0RA%?<CBFHE>?B<%?<QS@JAJ%?<%>R?=%KFA=A<>E>?B<%QB<>E?<=%QAF>E?<%<B<W5)):%C?<E<Q?ES%HAE=@FA=%>RE>%HE<ELAHA<>%VAS?A\A=%EFA%RASKC@S%?<%@<JAF=>E<J?<L%B@F%V@=?<A==U%E=%C@F>RAF% JA=QF?VAJ%VASBTN%7@F%JAC?<?>?B<%E<J%QESQ@SE>?B<%BC%<B<W5)):%C?<E<Q?ES%HAE=@FA=%HEM%J?CCAF%CFBH%>RB=A%BC%B>RAF%,-'0=U%E<JU%>RAFACBFAU%HEM%%VA%QBHKEFEVSAN%0RA%<B<W5)):% C?<E<Q?ES%HAE=@FA=%=RB@SJ%%VA%QB<=?JAFAJ%E<%ES>AF<E>?\A%>B%<A>%?<QBHA%BF%E<M%B>RAF%5)):%HAE=@FAHA<>%BC%KAFCBFHE<QA%E<J%=RB@SJ %VA%QB<=?JAFAJ%E<%ES>AF<E>?\A%>B%QE=R% CSBT=%CFBH%BKAFE>?<LU%?<\A=>?<L%BF%C?<E<Q?<L%EQ>?\?>?A=%E=%E%HAE=@FA%BC%S?i@?J?>MN a.%7-)4#+5) O:$#/"(+%-) JaaOKb) eA%QESQ@SE>A%C@<J=%CFBH%BKAFE>?B<=U%BF%&&7U%?<%EQQBFJE<QA%T?>R%>RA%=>E<JEFJ=%A=>EVS?=RAJ%VM%>RA%(E>?B<ES%)==BQ?E>?B<%BC%,AES%-=>E>A%'<\A=>HA<>%0F@=>=U%BF%(),-'0N%%&&7% FAKFA=A<>=%<A>%?<QBHA%ISB==;%IQBHK@>AJ%?<%EQQBFJE<QA%T?>R%5)):;U%AYQS@J?<L%LE?<=%IBF%SB==A=;%CFBH%FAES%A=>E>A%>FE<=EQ>?B<=U%< B<WQB<>FBSS?<L%?<>AFA=>=%=REFA%BC%LE?<%B<%=ESA%BC% KFBKAF>MU%?HKE?FHA<>%BC%?<\A=>HA<>%?<%FAES%A=>E>AU%FAES%A=>E>A%FASE>AJ%JAKFAQ?E>?B<%E<J%EHBF>?hE>?B<%IAYQS@J?<L%EHBF>?hE>?B<%BC%JACAFFAJ%C?<E<Q?<L%QB=>=;U%@<QB<=BS?JE>AJ%14%FAES% A=>E>A%FASE>AJ%JAKFAQ?E>?B<%n%EHBF>?hE>?B<U%<B<WQB<>FBSS?<L%?<>AFA=>=%?<%BKAFE>?<L%KEF><AF=R?K%E<J%EC>AF%EJ[@=>HA<>=%CBF%@<QB<=BS?JE>AJ%KEF><AF=R?K=%E<J%[B?<>%\A<>@FA=N%% DE<ELAHA<>%@=A=%&&7%E=%E%=@KKSAHA<>ES%KAFCBFHE<QA%HAE=@FA%VAQE@=AU%?<%AYQS@J?<L%FAES%A=>E>A%FASE>AJ%JAKFAQ?E>?B<%E<J%EHBF>?hE>?B<%E<J%LE?<=%E<J%SB==A=%CFBH%KFBKAF>M% J?=KB=?>?B<=%E<J%EC>AF%EJ[@=>HA<>=%CBF%@<QB<=BS?JE>AJ%KEF><AF=R?K=%E<J%[B?<>%\A<>@FA=U%?>%KFB\?JA=%E%KAFCBFHE<QA%HAE=@FA%>RE> U%TRA<%QBHKEFAJ%MAEF%B\AF%MAEFU%QEK>@FA=%>FA<J=% ?<%BQQ@KE<QM%FE>A=U%FA<>ES%FE>A=%E<J%BKAFE>?<L%QB=>=N%%eA%ES=B%VAS?A\A%>RE>U%E=%E%T?JASM%FAQBL<?hAJ%HAE=@FA%BC%>RA%KAFCBFHE<Q A%BC%,-'0=U%&&7%T?SS%VA%@=AJ%VM%?<\A=>BF=%E=%E%VE=?=% >B%QBHKEFA%B@F%BKAFE>?<L%KAFCBFHE<QA%T?>R%>RE>%BC%B>RAF%,-'0=N%%6BTA\AFU%VAQE@=A%&&7%AYQS@JA=%JAKFAQ?E>?B<%E<J%EHBF>?hE>?B<%E <J%QEK>@FA=%<A?>RAF%>RA%QRE<LA=%?<%>RA%\ES@A% BC%B@F%JE>E%QA<>AF=%>RE>%FA=@S>%CFBH%@=A%BF%HEFGA>%QB<J?>?B<=U%<BF%>RA%SA\AS%BC%QEK?>ES%AYKA<J?>@FA=%E<J%QEK?>ES?hAJ%SAE=?<L%QBHH?==?B<=%<AQA==EFM%>B%HE?<>E?<%>RA%BKAFE>?<L% KAFCBFHE<QA%BC%B@F%JE>E%QA<>AF=U%ESS%BC%TR?QR%RE\A%FAES%AQB<BH?Q%ACCAQ>%E<J%QB@SJ%HE>AF?ESSM%?HKEQ>%B@F%C?<E<Q?ES%QB<J?>?B<%E <J%FA=@S>=%CFBH%BKAFE>?B<=U%>RA%@>?S?>M%BC%&&7%E=%E% HAE=@FA%BC%B@F%KAFCBFHE<QA%?=%S?H?>AJN%%7>RAF%,-'0=%HEM%%QESQ@SE>A%&&7%?<%EQQBFJE<QA%T?>R%>RA%(),-'0%JAC?<?>?B<%E<JU%EQQBF J?<LSMU%B@F%&&7%HEM%%VA%QBHKEFEVSA%>B%B>RAF% REITs’ FFO. FFO should be considered only as a supplement to net income computed in accordance with GAAP as a measure of our KAFCBFHE<QAN%% *+#$)a.%7-) 4#+5)O:$#/"(+%-) J*+#$)aaOKb eA%KFA=A<>%QBFA%C@<J=%CFBH%BKAFE>?B<=U%BF%QBFA%&&7U%E=%E%=@KKSAHA<>ES%BKAFE>?<L%HAE=@FA%VAQE@=AU%?<%AYQS@J?<L%QAF>E?<%?>AH=%> RE> JB%%FACSAQ>%QBFA%FA\A<@A%BF%AYKA<=A% =>FAEH=U%?>%KFB\?JA=%E%KAFCBFHE<QA%HAE=@FA%>RE>U%TRA<%QBHKEFAJ%MAEF%B\AF%MAEFU%QEK>@FA=%>FA<J=%?<%B@F%QBFA%V@=?<A==%BKAFE>?<L KAFCBFHE<QAN%eA%QESQ@SE>A%QBFA%&&7%VM%EJJ?<L% >B%BF%=@V>FEQ>?<L%CFBH%&&7%I?;%>AFH?<E>?B<%CAA=%E<J%B>RAF%<B<WQBFA%FA\A<@A=U%I??;%>FE<=EQ>?B<%E<J%?<>ALFE>?B<%AYKA<=A=U%I???;%LE?<%CFBH%AEFSM%AY>?<L@?=RHA<>%BC%JAV>U%I?\;%?==@E<QA% QB=>=%E==BQ?E>AJ%T?>R%FAJAAHAJ%KFACAFFAJ%=>BQGU%I\;%Ai@?>M%?<%AEF<?<L=%EJ[@=>HA<>%CBF%<B<WQBFA%?>AH=U%I\?;%=A\AFE<QAU%Ai@?>M%EQQASAFE>?B<U%E<J%SALES%AYKA<=A=U%I\??;%VF?JLA%CEQ?S?>M% CAA=%E<J%I\???;%B>RAF%<B<WQBFA%AYKA<=A%EJ[@=>HA<>=N%8AQE@=A%QAF>E?<%BC%>RA=A%EJ[@=>HA<>=%RE\A%E%FAES%AQB<BH?Q%?HKEQ>%B<%B@F%C?<E <Q?ES%QB<J?>?B<%E<J%FA=@S>=%CFBH%BKAFE>?B<=U% >RA%@>?S?>M%BC%QBFA%&&7%E=%E%HAE=@FA%BC%B@F%KAFCBFHE<QA%?=%S?H?>AJN%7>RAF%,-'0=%HEM%QESQ@SE>A%QBFA%&&7%J?CCAFA<>SM%>RE<%TA%JB E<J%EQQBFJ?<LSMU%B@F%QBFA%&&7%HEM%%VA% QBHKEFEVSA%>B%B>RAF%,-'0=O%QBFA%&&7N%*BFA%&&7%=RB@SJ%VA%QB<=?JAFAJ%B<SM%E=%E%=@KKSAHA<>%>B%<A>%?<QBHA%QBHK@>AJ%?<%EQQBFJE<QA%T?>R%5)):%E=%E%HAE=@FA%BC%B@F%KAFCBFHE<QAN >7i.-"$7)a.%7-)4#+5)O:$#/"(+%-) J>aaOKb) eA%KFA=A<>%EJ[@=>AJ%C@<J=%CFBH%BKAFE>?B<=U%BF%)&&7U%E=%E%=@KKSAHA<>ES%BKAFE>?<L%HAE=@FA%VAQE@=AU%TRA<%QBHKEFAJ%MAEF%B\AF%MAEF U%?>%E==A==A=%B@F%EV?S?>M%>B%C@<J%J?\?JA<J% E<J%J?=>F?V@>?B<%FAi@?FAHA<>=%CFBH%B@F%BKAFE>?<L%EQ>?\?>?A=N%eA%ES=B%VAS?A\A%>RE>U%E=%E%T?JASM%FAQBL<?hAJ%HAE=@FA%BC%>RA%BKAF E>?B<=%BC%,-'0=U%)&&7%T?SS%VA%@=AJ%VM%?<\A=>BF=%E=%E% VE=?=%>B%E==A==%B@F%EV?S?>M%>B%C@<J%J?\?JA<J%KEMHA<>=%?<%QBHKEF?=B<%>B%B>RAF%,-'0=U%?<QS@J?<L%B<%E%KAF%=REFA%E<J%@<?>%VE=?=N%eA%QESQ@SE>A%)&&7%VM%EJJ?<L%>B%BF%=@V>FEQ>?<L%CFBH% QBFA%&&7%I?;%<B<WFAES%A=>E>A%JAKFAQ?E>?B<U%I??;%EHBF>?hE>?B<%BC%JACAFFAJ%C?<E<Q?<L%QB=>=U%I???;%EHBF>?hE>?B<%BC%JAV>%J?=QB@<>jKFAH?@HU%I?\;%<B<WQE=R%=>BQGWVE=AJ%QBHKA<=E>?B<% AYKA<=AU%I\;%=>FE?LR>WS?<A%FA<>ES%FA\A<@AU%I\?;%=>FE?LR>WS?<A%FA<>ES%AYKA<=AU%I\??;%EVB\AW E<J%VASBTWHEFGA>%FA<>%EHBF>?hE>?B<U%I\???;%JACAFFAJ%<B<WQE=R%>EY%AYKA<=AU%I?Y;%QEK?>ES?hAJ% SAE=?<L%QBHKA<=E>?B<U%IY;%FAQ@FF?<L%QEK?>ES%AYKA<J?>@FA=%E<J%IY?;%QEK?>ES?hAJ%?<>AF<ES%SAE=?<L%QBHH?==?B<=N%7>RAF%,-'0=%HEM%Q ESQ@SE>A%)&&7%J?CCAFA<>SM%>RE<%TA%JB%E<J% accordingly, our AFFO may not be comparable to other REITs’ AFFO. AFFO should be considered only as a supplement to net incom A%QBHK@>AJ%?<%EQQBFJE<QA%T?>R%5)):%E=%E% HAE=@FA%BC%B@F%KAFCBFHE<QAN% !"#$%9'5'0)+%,-)+02% &'()(*')+%,-./+0. !#

)::-(9'k P/%/&$5$%")!"/"$5$%"-)+%)D+%T2>>M)P$/-.#$- 9IFG<>)/%7)>7i.-"$7)9IFG<>b) eA%VAS?A\A%>RE>%AEF<?<L=%VACBFA%?<>AFA=>U%SB==%CFBH%AEFSM%AY>?<L@?=RHA<>%BC%JAV>U%?<QBHA%>EYA=U%JAKFAQ?E>?B<%E<J%EHBF>?hE>?B<U%E<J%?HKE?FHA<>%BC%?<\A=>HA<>=%?<%FAES%A=>E>AU%BF% -8'09)U%E<J%)J[@=>AJ%-8'09)%IE=%JAC?<AJ%VASBT;U%EFA%@=AC@S%=@KKSAHA<>ES%KAFCBFHE<QA%HAE=@FA=%VAQE@=A%>RAM%ESSBT%?<\A=>BF=%>B%\?AT%B@F%KAFCBFHE<QA%T?>RB@>%>RA%?HKEQ>%BC% <B<WQE=R%JAKFAQ?E>?B<%E<J%EHBF>?hE>?B<%BF%>RA%QB=>%BC%JAV>%E<JU%T?>R%FA=KAQ>%>B%)J[@=>AJ%-8'09)U%=A\AFE<QAU%Ai@?>M%EQQASAFE>?BFE<=EQ>?B<%E<J% ?<>ALFE>?B<%AYKA<=A=U%ILE?<;%SB==%B<%FAES%A=>E>A%>FE<=EQ>?B<=U%Ai@?>M%?<%AEF<?<L=%EJ[@=>HA<>%CBF%<B<WQBFA%?>AH=U%B>RAF%<B<WQBFA%EJ[@=>HA<>=U%<A>U%<B<QB<>FBSS?<L%?<>AFA=>=U% KFACAFFAJ%=>BQG%J?\?JA<J=U%?<QS@J?<L%@<JAQSEFAJ%J?\?JA<J=U%E<J%?==@E<QA%QB=>=%E==BQ?E>AJ%T?>R%FAJAAHAJ%KFACAFFAJ%=>BQGN%)J[@=>AJ -8'09)%?=%-8'09)%AYQS@J?<L%=A\AFE<QAU% Ai@?>M%EQQASAFE>?B<U%E<J%SALES%AYKA<=A=U%>FE<=EQ>?B<%E<J%?<>ALFE>?B<%AYKA<=A=U%ILE?<;%SB==%B<%FAES%A=>E>A%>FE<=EQ>?B<=U%Ai@?>M%?<%AEF<?<L=%EJ[@=>HA<>%CBF%<B<WQBFA%?>AH=U%B>RAF% <B<WQBFA%EJ[@=>HA<>=U%<A>U%<B<WQB<>FBSS?<L%?<>AFA=>=U%KFACAFFAJ%=>BQG%J?\?JA<J=U%?<QS@J?<L%@<JAQSEFAJ%J?\?JA<J=U%E<J%?==@E<QA%QB=>=%E==BQ?E>AJ%T?>R%FAJAAHAJ%KFACAFFAJ%=>BQGN% '<%EJJ?>?B<U%TA%VAS?A\A%-8'09)%E<J%)J[@=>AJ%-8'09)%EFA%CFAi@A<>SM%@=AJ%VM%=AQ@F?>?A=%E<ESM=>=U%?<\A=>BF=%E<J%B>RAF%?<>AFA=>AJ KEF>?A=%?<%>RA%A\ES@E>?B<%BC%,-'0=N%8AQE@=A%-8'09)% E<J%)J[@=>AJ%-8'09)%EFA%QESQ@SE>AJ%VACBFA%FAQ@FF?<L%QE=R%QREFLA=%?<QS@J?<L%?<>AFA=>%AYKA<=A%E<J%?<QBHA%>EYA=U%AYQS@JA%QEK?>ES?hAJ%QB=>=U%=@QR%E=%SAE=?<L%QBHH?==?B<=U%E<J%EFA% %EJ[@=>AJ%CBF%QEK?>ES%AYKA<J?>@FA=%BF%B>RAF%FAQ@FF?<L%QE=R%FAi@?FAHA<>=%BC%B@F%V@=?<A==U%>RA?F%@>?S?>M%E=%E%HAE=@FA%BC%B@F KAFCBFHE<QA%?=%S?H?>AJN%%7>RAF%,-'0=%HEM%QESQ@SE>A% -8'09)%E<J%)J[@=>AJ%-8'09)%J?CCAFA<>SM%>RE<%TA%JB%E<J%EQQBFJ?<LSMU%B@F%-8'09)%E<J%)J[@=>AJ%-8'09)%HEM%%VA%QBHKEFEVSA%>B%B>RAF REITs’ EBITDA and Adjusted EBITDA. )QQBFJ?<LSMU%-8'09)%E<J%)J[@=>AJ%-8'09)%=RB@SJ%VA%QB<=?JAFAJ%B<SM%E=%=@KKSAHA<>=%>B%<A>%?<QBHA%QBHK@>AJ%?<%EQQBFJE<QA%T?>R%5)):%E=%E%HAE=@FA%BC%B@F%C?<E<Q?ES% KAFCBFHE<QAN% D$")O:$#/"(%&)F%,+5$)JDOFK) /%7)*/-')DOFb (A>%BKAFE>?<L%?<QBHAU%BF%(7'U%FAKFA=A<>=%FA<>ES%FA\A<@AU%>A<E<>%FA?HV@F=AHA<>%FA\A<@A%E<J%?<>AFQB<<AQ>?B<%FA\A<@A%SA==%@>?S?>?A= AYKA<=AU%FA<>ES%KFBKAF>M%BKAFE>?<L% AYKA<=A=U%KFBKAF>M%>EYA=%E<J%?<=@FE<QA%AYKA<=A=%IE=%FACSAQ>AJ%?<%>RA%=>E>AHA<>%BC%BKAFE>?B<=;N%(7'%?=%QBHHB<SM%@=AJ%VM%=>BQGRBSJAF=U%QBHKE<M%HE<ELAHA<>%E<J%?<J@=>FM% analysts as a measurement of operating performance of the company’s rental portfolio. Cash NOI is NOI less straightWS?<A%FA<>=%E<J%EVB\AW E<J%VASBTWHEFGA>%FA<>%EHBF>?hE>?B<N% *E=R%(7'%?=%QBHHB<SM%@=AJ%VM%=>BQGRBSJAF=U%QBHKE<M%HE<ELAHA<>%E<J%?<J@=>FM%E<ESM=>=%E=%E%HAE=@FA%BC%KFBKAF>M%BKAFE>?<L%KAFCBFHE<QA%B<%E%QE=R%VE=?=N%6BTA\AFU%VAQE@=A% (7'%E<J%QE=R%(7'%AYQS@JA%JAKFAQ?E>?B<%E<J%EHBF>?hE>?B<%E<J%QEK>@FA%<A?>RAF%>RA%QRE<LA=%?<%>RA%\ES@A%BC%B@F%JE>E%QA<>AF=%>RE>%FA=@S>%CFBH%@=A%BF%HEFGA>%QB<J?>?B<=U%<BF%>RA% SA\AS%BC%QEK?>ES%AYKA<J?>@FA=%E<J%QEK?>ES?hAJ%SAE=?<L%QBHH?==?B<=%<AQA==EFM%>B%HE?<>E?<%>RA%BKAFE>?<L%KAFCBFHE<QA%BC%B@F%JE>E QA<>AF=U%ESS%BC%TR?QR%RE\A%FAES%AQB<BH?Q%ACCAQ>% E<J%QB@SJ%HE>AF?ESSM%?HKEQ>%B@F%FA=@S>=%CFBH%BKAFE>?B<=U%>RA%@>?S?>M%BC%(7'%E<J%QE=R%(7'%E=%HAE=@FA=%BC%B@F%KAFCBFHE<QA%?=%S?H?>AJN%7>RAF%,-'0=%HEM%QESQ@SE>A%(7'%E<J%QE=R%(7'% differently than we do and, accordingly, our NOI and cash NOI may not be comparable to other REITs’ NOI and cash NOI. NOI and QE=R%(7'%=RB@SJ%VA%QB<=?JAFAJ%B<SM%E=% =@KKSAHA<>=%>B%<A>%?<QBHA%QBHK@>AJ%?<%EQQBFJE<QA%T?>R%5)):%E=%HAE=@FA=%BC%B@F%KAFCBFHE<QAN !"#$%9'5'0)+%,-)+02% &'()(*')+%,-./+0. !!

)::-(9'k P/%/&$5$%")!"/"$5$%"-)+%)D+%T2>>M)P$/-.#$- 0RA%?<CBFHE>?B<% ?<QS@JAJ% ?<%>R?=%KFA=A<>E>?B<% QB<>E?<=% CBFTEFJWlooking statements. Such statements are based on management’s bel?AC=%E<J%E==@HK>?B<=% HEJA%VE=AJ%B<%?<CBFHE>?B<% Q@FFA<>SM% E\E?SEVSA%>B%HE<ELAHA<>N%.@QR%CBFTEFJWSBBG?<L% =>E>AHA<>=%?<QS@JA% =>E>AHA<>=%FASE>?<L%>BX%B@F% AQB<BH?Q% B@>SBBGZ%K@VS?Q% QSB@J% =AF\ ?QA=%=KA<J?<LZ%>RA%AYKAQ>AJ% >?H?<LU%SBQE>?B<=U% VA<AC?>=%E<J% KFBJ@Q>% BCCAF?<L=% CBF%'8D%*SB@J%E<J%.AF\?QA%-YQRE<LAZ%>RA%AYKAQ>AJ%ACCAQ>%BC%CBFA?L<%Q@FFA<QM% >FE<=SE>?B<% EJ[@=>HA<>=% B<%B@F% C?<E<Q?ES=Z%JAHE<J%JF?\AF=%E<J%AQB<BH?Q% LFBT>R%B@>SBBGZ% V@=?<A==% JF?\AF=Z%=B@FQA=%E<J%@=A=Z%B@F%AYKAQ>AJ% JA\ASBKHA<>%KSE<=%E<J%QBHKSA>?B<=U% ?<QS@J?<L% >?H?<LU%>B>ES%=i@EFA%CBB>ELAU%'0%QEKEQ?>M%E<J%FE?=AJ%CSBBF% =KEQA%@KB<% QBHKSA>?B<Z% AYKAQ>AJ% E\E?SEV?S?>M%CBF% SAE=?<L%ACCBF>=%E<J%QBSBQE>?B<% ?<?>?E>?\A=Z% BFLE<?hE>?B<ES% ?<?>?E>?\A=Z%B@F% AYKAQ>AJ%KFBJ@Q>% BCCAF?<L=Z%B@F%AYKAQ>AJ% 5BW>BWDEFGA>%=>FE>ALMZ%[B?<>% \A<>@FA%BKKBF>@<?>?A=Z% BQQ@KE<QM%E<J%>B>ES%?<\A=>HA<>Z% B@F%AYKAQ>AJ% ?<\A=>HA<>%?<%B@F%KFBKAF>?A=Z% B@F% A=>?HE>AJ%>?HA%>B%=>EV?S?hE>?B<% E<J%>EFLA>AJ% FA>@F<=%E>%=>EV?S?hE>?B<% BC%B@F%KFBKAF>?A=Z% B@F% AYKAQ>AJ%C@>@FA% EQi@?=?>?B<=Z% EQi@?=?>?B<=% =>FE>ALMZ%E\E?SEVSA% ?<\A<>BFM%E<J%JA\ASBKHA<>%=>FE>ALMZ%>RA%=?L<?<L%E<J%QBHHA<QAHA<>% BC%SAE=A=U%E<J%FASE>AJ% FA<>ES%FA\A<@AZ%SEL%VA>TAA<%=?L<?<L%E <J%QBHHA<QAHA<>% BC%SAE=A=Z%C@>@FA%FA<>=Z%B@F%AYKAQ>AJ% =EHA%=>BFA% KBF>CBS?B% LFBT>RZ%B@F%AYKAQ>AJ% LFBT>R%E<J%=>EV?S?hE>?B<% BC%JA\ASBKHA<>% QBHKSA>?B<=% E<J%EQi@?=?>?B<=Z% B@F%AYKAQ>AJ% HEFG W>BWHEFGA> FE>A=%B<%SAE=A%AYK?FE>?B<=U% SAE=A%FBSSB\AF=% E<J%AYKAQ>AJ%FA<>ES% FE>A%QRE<LA=Z%B@F%AYKAQ>AJ% M?ASJ=%B<%?<\A=>HA<>=Z%B@F%AYKAQ>E>?B<=% T?>R%FA=KAQ>%>B%QEK?>ES%?<\A=>HA<>=%E>%SAE=A%AYK?FE>?B<% B< AY?=>?<L%JE>E%QA<>AF% BF%QBSBQE>?B<% =KEQAZ%VEFF?AF=% >B%A<>FMZ%QBHKA>?>?B<Z% JAV>%HE>@F?>?A=Z% SAE=A%HE>@F?>?A=Z%B@F% AYKAQ>AJ%FA>@F<=% B<%?<\A=>AJ%QEK?>ESZ%A=>?HE>AJ%EV=BFK>?B<% FE>A=Z%B@F%B>RAF% AYKAQ>AJ%C@>@FA% C?<E<Q?ES% E<J%B>RAF%FA=@S>=U%E<J%>RA%E==@HK>?B<=%@<JAFSM?<L% =@QR% FA=@S>=Z%B@F%>BK%?<\A=>HA<>%LABLFEKR?A=% E<J%HEFGA>%BKKBF>@<?>?A=Z% B@F%AYKAQ>AJ% QBSBQE>?B<% AYKE<=?B<=Z% B@F%EV?S?>M%>B%EQQA==%>RA%QEK?>ES%HEFGA>=Z%AYKAQ>AJ% >?HA%E<J%QB=>%=E\?<L=%>B%B@F%Q@=>BHAF=Z% our customers’ capital investments; our plans and intentions; future data center utilization, utilization rates, growth ratesU%>FA<J=U%=@KKSM%E<J%JAHE<JU%E<J%JAHE<J%JF?\AF=Z%JE>EQA<>AF% B@>=B@FQ?<L% >FA<J=Z%JE>EQA<>AF% AYKE<=?B<% KSE<=Z%A=>?HE>AJ%GejDe%FAi@?FAHA<>=Z% LFBT>R%?<%>RA%B\AFESS%'<>AF<A>%?<CFE=>F@Q>@FA% =AQ>BF% E<J%=ALHA<>=%>RAFABCZ%>RA%FAKSEQAHA<>% QB=>%BC%B@F%E==A>=Z%>RA% JA\ASBKHA<>% QB=>=%BC%B@F%V@?SJ?<L=U% E<J%SAEJ%>?HA=Z%A=>?HE>AJ% QB=>=%CBF%Q@=>BHAF=% >B%JAKSBM%BF%H?LFE>A%>B%E%<AT%JE>E%QA<>AFZ% QEK?>ES%AYKA<J?>@FA=Z% >RA%ACCAQ>%<AT%SAE=A=%E<J%?<QFAE=A=%?<%FA<>ES%FE>A=% T?SS%RE\A%B<%B@F%FA<>ES% FA\A<@A=%E<J%FA=@S>=%BC%BKAFE>?B<=Z% SAE=A%AYK?FE>?B<% FE>A=Z%B@F% EV?S?>M%>B%VBFFBT% C@<J=%@<JAF%B@F% QFA J?> CEQ?S?>?A=Z% A=>?HE>A=%BC%>RA%\ES@A%BC%B@F%JA\ASBKHA<>% KBF>CBS?BZ% B@F% EV?S?>M%>B%HAA>%B@F% S?i@?J?>M% <AAJ=U%?<QS@J?<L% >RA%EV?S?>M% >B%FE?=A%EJJ?>?B<ES% QEK?>ESZ%>RA%=A>>SAHA<>% BC%B@F% CBFTEFJ% =ESA=%E LFAAHA<>=Z%QFAJ?>% FE>?<L=Z%QEK?>ES?hE>?B<% FE>A=U%BF%QEK%FE>A=Z%HEFGA>%CBFAQE=>=Z% KB>A<>?ES% <AT%SBQE>?B<=Z% >RA%AYKAQ>AJ% ?HKEQ>%BC%B@F%LSBVES%AYKE<=?B<Z% J?\?JA<J%KEMHA<>=%E<J%B@F% J?\?JA<J%KBS?QMZ%KFB[AQ>AJ% C?<E<Q?ES%?<CBFHE>?B<% E<J%QB\A<E<>%HA>F?Q=Z%E<<@ES?hAJZ%QBFA%&&7%F@<W FE>A%E<J%(7'%5FBT>RZ% B>RAF%CBFTEFJWSBBG?<L% C?<E<Q?ES% JE>EZ%SAE=?<L%AYKAQ>E>?B<=Z% B@F%AYKB=@FA% >B%>A<E<>=%?<%QAF>E?<%?<J@=>F?A=Z% B@F%AYKAQ>E>?B<=% E<J%@<JAFSM?<L% E==@HK>?B<=% FALEFJ?<L%B@F%=A<=?>?\?>M% >B%CS@Q>@E>?B<=% ?<%CBFA?L<% AYQRE<LA%FE>A=%E<J%A<AFLM%KF?QA=Z%E<J%>RA%=@CC?Q?A<QM%BC%B@F%QEK?>ES% >B%C@<J% C@>@FA%FAi@?FAHA<>=N% 2B@ QE<%?JA<>?CM% CBFTEFJWSBBG?<L% =>E>AHA<>=%VM%>RA%@=A%BC%CBFTEFJWSBBG?<L% terminology such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “pro forma, ” “estimates” or “anticipates” or the negative of these words and phrases BF%=?H?SEF%TBFJ=% BF%KRFE=A=%TR?QR% EFA%KFAJ?Q>?B<=% BC%BF%?<J?QE>A% C@>@FA% A\A<>=%BF%>FA<J=%E<J%J?=Q@==?B<=% TR?QR%JB%%FASE>A% =BSASM%>B%R?=>BF?QES% HE>>AF=N%.@QR%=>E>AHA<>=%EFA%=@V[AQ>%>B%F?=G=U% @<QAF>E?<>?A=% E<J%E==@HK>?B<=U% EFA%%L@EFE<>AA=%BC%C@>@FA%KAFCBFHE<QA% E<J%HEM%VA%ECCAQ>AJ%VM%G<BT<%E<J%@<G<BT<%F?=G=U%>FA<J=U%@<QAF>E?<>?A=% E<J%CEQ>BF=% >RE>%EFA%VAMB<J%B@F%QB<>FBS% >RE>%HEM% QE@=A%EQ>@ES%FA=@S>=% >B%\EFM%HE>AF?ESSMN%.BHA%BC%>RA%F?=G=%E<J%@<QAF>E?<>?A=% ?<QS@JAU%EHB<L%B>RAF=U%>RA%CBSSBT?<LX%FAJ@QAJ% JAHE<J%CBF%JE>E%QA<>AF=%BF%JAQFAE=A=%?<%?<CBFHE>?B<% >AQR<BSBLM% =KA<J?<LZ% JAQFAE=AJ%FA<>ES% FE>A=U%?<QFAE=AJ%BKAFE>?<L% QB=>=%BF%?<QFAE=AJ%\EQE<QM%FE>A=Z%?<QFAE=AJ% QBHKA>?>?B<% BF%E\E?SEVSA%=@KKSM%BC%JE >E%QA<>AF% =KEQAZ%>RA%=@?>EV?S?>M% BC%B@F% JE>E%QA<>AF=%E<J%JE>E%QA<>AF% ?<CFE=>F@Q>@FAU% JASEM=%BF%J?=F@K>?B<=% ?<%QB<<AQ>?\?>M% BF%E\E?SEV?S?>M%BC%KBTAFU%BF%CE?S@FA=% BF%VFAEQRA=%BC%B@F% KRM=?QES%E<J%?<CBFHE>?B<% =AQ@F?>M%?<CFE=>F@Q>@FA% BF%=AF\?QA=Z%B@F%JAKA<JA<QA% @KB<% =?L<?C?QE<>% Q@=>BHAF=U%VE<GF@K>QM%BF%?<=BS\A<QM%BC%E%HE[BF%Q@=>BHAF% BF%E%=?L<?C?QE<>% <@HVAF% BC%=HESSAF%Q@=>BHAF=U%BF%JACE@S>= B< BF%<B<WFA<ATES% BC%SAE=A=%VM%Q@=>BHAF=Z%VFAEQRA=%BC%B@F%BVS?LE>?B<=% BF%FA=>F?Q>?B<=% @<JAF%B@F% QB<>FEQ>=% T?>R%B@F%Q@=>BHAF=Z%B@F% ?<EV?S?>M% >B%=@QQA==C@SSM% JA\ASBK%E<J%SAE=A%<AT%KFBKAF>?A=% E<J%JA\ASBKHA<>% =KEQAU%E<J%JASEM=%BF%@<AYKAQ>AJ% QB=>=%?<%JA\ASBKHA<>%BC% KFBKAF>?A=Z% >RA%?HKEQ>%BC%Q@FFA<>% LSBVES%E<J%SBQES%AQB<BH?QU%QFAJ?>% E<J%HEFGA>%QB<J?>?B<=Z% B@F% ?<EV?S?>M% >B%FA>E?<% JE>E%QA<>AF% =KEQA%>RE>%TA%SAE=A%BF%=@VSAE=A%CFBH%>R?FJ% KEF>?A=Z%J?CC?Q@S>M% EQi@?F?<L% BF% BKAFE>?<L% KFBKAF>?A=% ?<%CBFA?L<%[@F?=J?Q>?B<=Z% B@F%CE?S@FA% >B%FAES?hA%>RA%?<>A<JAJ% VA<AC?>=% CFBHU%BF%J?=F@K>?B<=% >B%B@F%KSE<= E<J%BKAFE>?B<=% BF%@<G<BT<%BF%QB<>?<LA<>% S?EV?S?>?A=% FASE>AJ% >BU%B@F%FAQA<>% EQi@?=?>?B<=Z% B@F% CE?S@FA%>B%=@QQA==C@SSM%?<>ALFE>A% E<J%BKAFE>A% EQi@?FAJ% BF%JA\ASBKAJ%KFBKAF>?A=% BF%V@=?<A==A=Z%J?CC?Q@S>?A=% ?<%?JA<>?CM?<L% KFBKAF>?A=% >B%EQi@?FA%E<J%QBHKSA>?<L% EQi@?=?>?B<=Z% F?=G=% FASE>AJ%>B%[B?<>% \A<>@FA%?<\A=>HA<>=U%?<QS@J?<L% E=%E%FA=@S>%BC%B@F%SEQG%BC%QB<>FBS% BC%=@QR%?<\A=>HA<>=Z%F?=G=%E==BQ?E>AJ%T?>R @=?<L%JAV>%>B%C@<J%B@F% V@=?<A==%EQ>?\?>?A=U%?<QS@J?<L% FAWC?<E<Q?<L% E<J%?<>AFA=>% FE>A%F?=G=U%B@F%CE?S@FA%>B%FAKEM%JAV>% TRA<%J@AU%EJ\AF=A%QRE<LA=%?<%B@F% QFAJ?>%FE>?<L=%BF%B@F% VFAEQR%BC%QB\A<E<>=%BF%B>RAF% >AFH=%QB<>E?<AJ% ?<%B@F%SBE<%CEQ?S?>?A=% E<J%ELFAAHA<>=Z%B@F%CE?S@FA% >B%BV>E?<% <AQA==EFM%JAV>%E<J%Ai@?>M%C?<E<Q?<LU%E<J%B@F%JAKA<JA<QA% B<%AY>AF<ES% =B@FQA=%BC%QEK?>ESZ%C?<E<Q?ES% HEFGA>%CS@Q>@E>?B<=% E<J%QRE <LA=%?<%CBFA?L<%Q@FFA<QM% AYQRE<LA%FE>A=Z%EJ\AF=A%AQB<BH?Q% BF%FAES% A=>E>A%JA\ASBKHA<>=% ?<%B@F%?<J@=>FM% BF%>RA%?<J@=>FM% =AQ>BF=%>RE>%TA%=ASS%>BU%?<QS@J?<L% F?=G=%FASE>?<L% >B%JAQFAE=?<L%FAES%A=>E >A%\ES@E>?B<=%E<J%?HKE?FHA<>% QREFLA=%E<J%LBBJT?SS% E<J%B>RAF%?<>E<L?VSA% E==A>%?HKE?FHA<>% QREFLA=Z%B@F% ?<EV?S?>M%>B%HE<ELA%B@F%LFBT>R% ACCAQ>?\ASMZ%SB==A=%?<%AYQA==%BC%B@F%?<=@FE<QA% QB\AFELAZ%A<\?FB<HA<>ES% S?EV?S?>?A=% E<J%F?=G=%FASE>AJ% >B%<E>@FES%J?=E=>AF=Z%B@F%?<EV?S?>M% >B% QBHKSM%T?>R%F@SA=%E<J%FAL@SE>?B<=% EKKS?QEVSA% >B%B@F%QBHKE<MZ%B@F% CE?S@FA%>B%HE?<>E?<%B@F% =>E>@=%E=%E%,-'0%CBF%CAJAFES% ?<QBHA% >EY purposes; our operating partnership’s failure to qualify as a KEF><AF=R?K% CBF%CAJAFES%?<QBHA%>EY%K@FKB=A=Z%FA=>F?Q>?B<=% B<%B@F%EV?S?>M% >B%A<LELA%?<%QAF>E?<% V@=?<A==%EQ>?\?>?A=Z%E<J%QRE<LA=%?<%SBQESU%=>E>AU%CAJAFES% E<J%?<>AF<E>?B<ES% SET=%E<J%FAL@SE>?B<=U%?<QS@J?<L% FASE>AJ%>B%>EYE>?B<U%FAES%A=>E>A%E<J%hB<?<L%SET=U%E<J%?<QFAE=A=%?<%FAES%KFBKAF>M% >EY%FE>A=N%0RA%F?=G=%?<QS@JAJ% RAFA%EFA%%A YRE@=>?\AU%E<J%EJJ?>?B<ES% CEQ>BF=%QB@SJ% EJ\AF=ASM%ECCAQ>%B@F%V@=?<A==%E<J% C?<E<Q?ES% KAFCBFHE<QAN% %eA%J?=Q@==AJ%E%<@HVAF% BC%EJJ?>?B<ES% HE>AF?ES%F?=G=%?<%B@F%E<<@ES% FAKBF>% B<%&BFH%#3Wc%CBF%>RA%MAEF%A<JAJ% 9AQAHVAF% P#U%!3#_%E<J%B>RAF% C?S?<L=%T?>R%>RA%.AQ@F?>?A=%E<J% -YQRE<LA%*BHH?==?B<N%%0RB=A%F?=G=%QB<>?<@A% >B%VA%FASA\E<>%>B%B@F% KAFCBFHE<QA% E<J%C?<E<Q?ES%QB<J?>?B<N% %DBFAB\AFU%TA%BKAFE>A%?<%E \AFM%QBHKA>?>?\A%E<J%FEK?JSM%QRE<L?<L%A<\?FB<HA<>N% %(AT%F?=G% CEQ>BF=%AHAFLA%CFBH%>?HA%>B%>?HA%E<J%?>%?=%%KB==?VSA%CBF%HE<ELAHA<>%>B%KFAJ?Q>%ESS%=@QR%F?=G%CEQ>BF=U%<BF%QE<%?>%E==A==%>RA%?HKEQ>%BC%ESS%=@QR%F?=G%CEQ>BF=%B<%>RA%V@=?<A==%BF%>RA%AY>A<>%>B%TR?QR%E<M% CEQ>BFU%BF%QBHV?<E>?B<% BC%CEQ>BF=U%HEM%QE@=A%EQ>@ES%FA=@S>=%>B%J?CCAF% HE>AF?ESSM%CFBH%>RB=A%QB<>E?<AJ% ?<%E<M%CBFTEFJWSBBG?<L% =>E>AHA<>=N%eA%AYKFA==SM%J?=QSE?H% E<M%FA=KB<=?V?S?>M% >B%@KJE>A%CBFTEFJW SBBG?<L%=>E>AHA<>=U%TRA>RAF% E=%E%FA=@S>% BC%<AT%?<CBFHE>?B<U% C@>@FA% A\A<>=%BF%B>RAFT?=AN% 9?L?>ES%,AES>MU%9?L?>ES%,AES>M%0F@=>U%>RA%9?L?>ES%,AES>M%SBLBU%0@F<WcAM%&SAY%E<J%:BTAFAJ% 8E=A%8@?SJ?<L% EFA%FAL?=>AFAJ% >FEJAHEFG= E<J%=AF\?QA%HEFG=%BC%9?L?>ES%,AES>M%0F@=>U%'<QN%?<%>RA%/<?>AJ% .>E>A=% E<JjBF%B>RAF% QB@<>F?A=N% !"#$%9'5'0)+%,-)+02% &'()(*')+%,-./+0. !P

,-*7(*'+')0'7(%7&%(7(W5)):%'0-D. G+)G'$(#)*1+-$-")2>>M)9U.(=/1$%" a.%7-) 4#+5)+:$#/"(+%-) JBK Reconciliation of Adjusted EBITDA Y@BQ Y@BC aX)@ABC Q218 Q217 (A>%?<QBHA% ISB==;% E\E?SEVSA%>B%QBHHB<% =>BQGRBSJAF= d%%%%%%%%%%baU#P`% d%%%%%%%%%%a_U$P_% d%%%%%%%%#_PU#`]% EBITDA $ 444,853 $ 296,169 (B<QB<>FBSS?<L% ?<>AFA=>=%?<%BKAFE>?<L%KEF><AF=R?K !U_33% $3_% PU__3% ,AES%A=>E>A%FASE>AJ%JAKFAQ?E>?B<%E<J%EHBF>?hE>?B< I!; !]aU_a3% #_aU3#3% $P3U!a!% Severance accrual and equity acceleration (including ,AES%A=>E>A%FASE>AJ%JAKFAQ?E>?B<%E<J%EHBF>?hE>?B<%FASE>AJ%>B%?<\A=>HA<>%?<% associated legal expenses for 2015 only) 1,822 365 @<QB<=BS?JE>AJ% [B?<>%\A<>@FA PU_!!% !U_a`% ##Uabb% Transaction and integration expenses 5,606 14,235 I5E?<;%SB==%B<%=ESA%BC%KFBKAF>M I#`U#]!; IP$3; I`3UPaa; (B<WQB<>FBSS?<L%?<>AFA=>=%=REFA%BC%LE?<%B<%=ESA%BC%KFBKAF>M W PU]33% (Gain) loss on sale of properties (14,192) (380) 'HKE?FHA<>%BC%?<\A=>HA<>=%?<%FAES%A=>E>A W W !$U]]!% Equity in earnings adjustment for non-core items - (3,285) &@<J=%CFBH% BKAFE>?B<=% I&&7; d%%%%%%%%PaPU##`% d%%%%%%%%!PbU3!$% d%%%%%#U3##U!_`% Other non-core expense adjustments (2,984) 24 &@<J=%CFBH% BKAFE>?B<=% I&&7;%KAF%J?S@>AJ%=REFA d%%%%%%%%%%%%%#Nb`% d%%%%%%%%%%%%%#N``% d%%%%%%%%%%%%%`N#b% Noncontrolling interests 2,696 920 (A>%?<QBHA% ISB==;% KAF%J?S@>AJ%=REFA%E\E?SEVSA%>B%QBHHB<% =>BQGRBSJAF= d%%%%%%%%%%%%%3NP!% d%%%%%%%%%%%%%3NPb% d%%%%%%%%%%%%%3N_P% Preferred stock dividends 20,329 14,505 &&7%E\E?SEVSA%>B%QBHHB<% =>BQGRBSJAF=%E<J%@<?>RBSJAF= PaPU##`% !PbU3!$% #U3##U!_`% Costs on redemption of preferred stock - 6,309 &&7%E\E?SEVSA%>B%QBHHB<% =>BQGRBSJAF=%E<J%@<?>RBSJAF=% WW J?S@>AJ d%%%%%%%%PaPU##`% d%%%%%%%%!PbU3!$% d%%%%%#U3##U!_`% 0AFH?<E>?B<%CAA=% E<J%B>RAF%<B<WQBFA% FA\A<@A=%I`; IPUbbP; IP`#; I#U3P#; Adjusted EBITDA 458,130 328,862 0FE<=EQ>?B<%AYKA<=A= aUb3b% #`U!Pa% _bU3`$% +B==% CFBH% AEFSM%AY>?<L@?=RHA<>%BC% JAV> W W I#U]]3; Adjusted EBITDA, less effect of gain on sale of assets $ 458,130 $ 328,862 '==@E<QA% QB=>=%E==BQ?E>AJ% T?>R%FAJAAHAJ%KFACAFFAJ% =>BQG W bUP3]% bUP3]% -i@?>M%?<%AEF<?<L=%EJ[@=>HA<>%CBF%<B<WQBFA% ?>AH= W IPU!$a; IPU!$a; Reconciliation of Net Operating Income (NOI) Q218 Q217 .A\AFE<QA%FASE>AJ%EQQF@ESU%Ai@?>M%EQQASAFE>?B<U%E<J%SALES%AYKA<=A=%Ib; #U$!!% Pba% `U_P#% Operating income $ 144,062 $ 130,657 8F?JLA%CEQ?S?>M%CAA=%I_; W W PU#$!% Less: 7>RAF%<B<WQBFA% AYKA<=A% EJ[@=>HA<>=%I$; #a!% !`% PU3__% *BFA%&@<J=% CFBH% BKAFE>?B<=%I&&7; d%%%%%%%%Pa_U3P#% d%%%%%%%%!aPUPPa% d%%%%%#U3]$UP#a% Fee income (only disclosed for 2008 through 2017) (2,343) (1,429) (B<%FAES%A=>E>A%JAKFAQ?E>?B< PU3P$% PU#3#% #!U!#!% )HBF>?hE>?B<%BC%JACAFFAJ% C?<E<Q?<L% QB=>= !U]aP% !Ua#$% #3Ubb`% Other revenue (527) (341) )HBF>?hE>?B<%BC%JAV>%J?=QB@<> $$!% _#P% PU3$`% Add: (B<% QE=R%QBHKA<=E>?B< $U`#]% aUbP_% #_U]33% .>FE?LR>WS?<A%FA<>%FA\A<@A I$U`$]; I!U##3; I#bUaba; Depreciation and amortization 298,788 178,111 .>FE?LR>WS?<A%FA<>%AYKA<=A !Ubb]% `UP`P% #!U#3_% General and administrative 44,277 37,144 )VB\A%E<J%VASBT%HEFGA>%FA<>%EHBF>?hE>?B< bU_]`% I#U]`b; #U__3% Severance accrual and equity acceleration 1,822 365 (B<WQE=R% >EY%AYKA<=AjIVA<AC?>;% IB<SM%J?=QSB=AJ% CBF% !3#`%W !3#$; I#U#P_; I#U``P; I!U]#!; *EK?>ES?hAJ%SAE=?<L%QBHKA<=E>?B< I!U$!a; I!U_`3; I##U$$b; Transactions 5,606 14,235 ,AQ@FF?<L%QEK?>ES%AYKA<J?>@FA=% IB<SM% J?=QSB=AJ% CBF%!3#!%W !3#$; IP`U``_; I!bU_`3; I#PbU!]3; Other expenses 152 24 '<>AF<ES%SAE=?<L%QBHH?==?B<=% IB<SM%J?=QSB=AJ%CBF%!3#!% W !3#$; I!U$!!; I#UPaa; IaU!]3; )J[@=>AJ%C@<J=% CFBH% BKAFE>?B<= I#; d%%%%%%%%PP!U3bb% d%%%%%%%%!PPUP#P% d%%%%%%%%]$PU#3]% Net Operating Income $ 491,837 $ 358,766 I#;% &@<J=%CFBH% BKAFE>?B<=%E<J% )J[@=>AJ%C@<J=% CFBH% BKAFE>?B<=%CBF%ESS%KAF?BJ=% KFA=A<>AJ%EVB\A%?<QS@JA% >RA%FA=@S>=%BC%KFBKAF>?A=%=BSJ%?<%!33b%E<J% !33_%— 2Q18 2Q17 % change _]_]%-E=>%0@C>=%)\A<@A%I1@SM%!33b;U%#33%0AQR<BSBLM% *A<>AF%9F?\A%IDEFQR% Operating Revenue $754,919 $565,989 33% !33_;% E<J%`3aa%4ESSAM%4?AT%+E<A%IDEFQR%!33_;N (Less DFT) (160,881) - I!;%,AES%A=>E>A%FASE>AJ%JAKFAQ?E>?B<%E<J%EHBF>?hE>?B<%TE=%QBHK@>AJ%E=%CBSSBT=X Operating Revenue (excl DFT) $594,038 $565,989 5% Y@BQ Y@BC aX)@ABC 9AKFAQ?E>?B<%E<J%EHBF>?hE>?B<%KAF%?<QBHA% =>E>AHA<> d%%%%%%%%!]$U_$$% d%%%%%%%%#_$U###% d%%%%%%%%$`!U`b`% (B<% FAES%A=>E>A%JAKFAQ?E>?B< IPU3P$; IPU#3#; I#!U!#!; Adjusted EBITDA $458,130 $328,862 39% d%%%%%%%%!]aU_a3% d%%%%%%%%#_aU3#3% d%%%%%%%%$P3U!a!% (Less DFT) (109,239) - eA?LR>AJWE\AFELA%=REFA=%E<J%@<?>=%B@>=>E<J?<L%W J?S@>AJ !#`U$]a% #b`U3!_% #bbU]P$% Adjusted EBTIDA (excl DFT) $348,891 $328,862 6% !"#$%9'5'0)+%,-)+02% &'()(*')+%,-./+0. !`

9?L?>ES%,AES>M%>RA%>F@=>AJ%CB@<JE>?B<%p%KBTAF?<L%J?L?>ES%EHV?>?B<=