Prologis Stockholders, Duke Realty Shareholders Approve Merger

Prologis, Inc. (NYSE:PLD) ("Prologis") and Duke Realty Corporation (NYSE:DRE) ("Duke Realty") today announced that Prologis stockholders and Duke Realty shareholders have voted, separately, to approve the proposed merger at their respective special meetings held virtually today, September 28, 2022.

According to the results of the Prologis Special Meeting of Stockholders, more than 99 percent of votes cast at the meeting – approximately 87 percent of the outstanding shares of Prologis common stock as of the record date – were voted in favor of the issuance of Prologis common stock in connection with the merger.  The final voting results of the Prologis Special Meeting will be filed as part of a Form 8-K with the U.S. Securities and Exchange Commission.

According to the results of the Duke Realty Special Meeting of Shareholders, more than 99 percent of votes cast at the meeting – approximately 85 percent of the outstanding shares of Duke Realty common stock as of the record date – were voted in favor of approving the merger agreement and the transactions contemplated thereby, including the merger.  The final voting results of the Duke Realty Special Meeting will be filed as part of a Form 8-K with the U.S. Securities and Exchange Commission.

Upon consummation of the merger, Duke Realty shareholders will receive 0.475 of a newly-issued share of Prologis common stock for each share of Duke Realty common stock they own immediately prior to the effective time of the merger. The transaction is expected to close in early October subject to the satisfaction or waiver of customary closing conditions.