Digital Realty Investor Presentation June 6-6-23

Global.
Connected.
Sustainable.
INVESTOR PRESENTATION
June 2023
The meeting place for companies,

technologies and data
Digital Realty Overview
Introduction
2
A Global Platform Supporting our
Customers’ Critical IT Architecture
Requirements
~5,000 214,000+ 50+ 310+

Customers (1) Cross connects (1) Metros (1) Data Centers (1)
EQUITY & ENTERPRISE VALUE TOP PUBLICLY TRADED U.S. REIT
$29 Bn $48 Bn 8th 2016 May

EQUITY MARKET ENTERPRISE LARGEST
CAPITALIZATION (2) ADDED TO THE
VALUE (3) PUBLICLY TRADED
S&P 500 INDEX
U.S. REIT (4)
INVESTMENT GRADE RATINGS (5)
BBB Baa2 BBB
Note: Balance sheet data as of March 31, 2023 unless otherwise indicated.
1) Data Center total includes buildings held as investments in unconsolidated joint ventures.
2) As of March 31, 2023.
3) Total enterprise value calculated as the market value of common equity as of March 31, 2023, plus liquidation value of preferred equity and total debt at balance sheet carrying value as of March 31, 2023.
4) U.S. REITs within the RMZ. Ranked by market cap as of March 31, 2023. Source: Bloomberg. 3
5) These credit ratings may not reflect the potential impact of risks relating to the structure or trading of the Company's securities and are provided solely for informational purposes. Credit ratings are not recommendations to buy, sell or hold any security, and may be revised or withdrawn at any time by the issuing organization
in its sole discretion. The Company does not undertake any obligation to maintain the ratings or to advise of any change in ratings. Each agency's rating should be evaluated independently of any other agency's rating. An explanation of the significance of the ratings may be obtained from each of the rating agencies. 3
Our Strategic Vision
THE
MEETING
PLACE
ENTERPRISES SERVICE PROVIDERS

We integrate their We are a part of
platforms their platform
To bring companies and data together, in bold new ways,

to power the innovation determining our future.
4
Executing on Strategic Vision
Refining Strategy to Fuel Future Growth
1. Strengthening Customer Value Proposition

Record Interconnection and Strong 0-1MW bookings in 1Q23
2. Operating Results Inflect Upward

Improving Same-Capital Growth, Positive Re-Leasing
Spreads, and Strong New Logos in 1Q23
3. Diversifying and Bolstering Capital Sources

Funding Plan on Track
5
Consistent Execution
Progress Against Strategic Priorities
1 2 3
Strengthen Innovate & Bolster and
Customer Value Integrate Diversify Capital
As of March 31, 2023 Proposition
METROS
52 +17
Total Since 2019
• Executing meeting place • Building new applications • Partnering with sources of

BOOKINGS strategy with sustainable
connectivity rich solutions
on the world’s largest
open network platform
private capital to improve
capital efficiency
$489 mm 10% • Providing full spectrum

product offering across a
• ServiceFabric™ launch
• Expansion of
• Elevated focus on projects
with highest risk-adjusted
LTM Bookings Of Revenue global platform PlatformDigital® returns
• Growing Connected Data • Additional subsea cable
Communities landings
NEW LOGOS
100+/qtr
since 1Q20
6
Offering a Global Data Center Platform
with Local Expertise Stockholm
Seattle Copenhagen
Dublin Amsterdam
Portland Brussels
Toronto Düsseldorf
Boston London
New York Metro Frankfurt

San Francisco Vienna Seoul
Chicago Paris Zurich
Silicon Valley Northern Tokyo
Virginia
Phoenix Osaka
Charlotte Zagreb
Los Angeles
Marseille
Dallas Atlanta
Austin Madrid
Hong Kong
Houston Miami Athens
Fortaleza
Queretaro
Abuja
Nairobi
Singapore
Lagos
Rio de Sydney
Janeiro Mombasa
Sao Paulo
Santiago Melbourne
Johannesburg Maputo
Durban
Capetown
High-Quality
Geographically Diversified (1) Customer Type (% by ARR) (2) Primarily Owned (1) Customer Base (3)
Content Leased
Latin America 13% 14%
Note: As of March 31, 2023, unless otherwise noted. Represents consolidated portfolio and 5%
investments in our unconsolidated joint ventures at our ownership percentages. North Cloud Financial
1) Based on annualized base rent – the monthly contractual base rent (defined as cash base rent
America 39% 11% Investment
before abatements) under existing leases as of March 31, 2023, multiplied by 12. APAC 53% Grade or
2) Based on annualized recurring revenue – the monthly contractual base rent (defined as cash
10%
base rent before abatements), and Interconnection revenue under existing leases as of March 31, Equivalent
2023, multiplied by 12. Enterprise
~ 49%
3) Based on the credit ratings of Digital Realty’s top 100 customers as of March 31, 2023 against 9%
annualized recurring total revenue of $1.8 billion. Credit ratings from S&P, Moody’s and Fitch
reflect credit ratings of customer’s parent entity. There can be no assurance that a customer’s
Owned
parent entity will satisfy the customer’s lease or other obligations upon such customer’s default.
EMEA Network 86% 7
31% IT 16%
12% 5,000 Global Customers
Assembling Strategic
Pieces of the Global Puzzle
2015 2016 2017 2018 2020 2022
European
Telx DuPont Fabros Ascenty Interxion Teraco
Portfolio Acquisition
National Provider of Data A Leading Provider of A Leading Colocation

Eight Highly-Connected A Leading Latin America A Leading Colocation and
Center Colocation, Enterprise-Class, and Interconnection
Carrier-Neutral Data Data Center Provider with a Interconnection Provider in
Interconnection and Cloud Carrier-Neutral, Large Scale Provider across
Centers in Europe. 4,500 km Fiber Network. South Africa.
Enablement Solutions. Multi-Tenant Data Centers. Europe.
8
Sustainability Focus and Performance
Delivering Sustainable Growth for All Stakeholders
Environmental Social Governance
Removed previous ownership
Leader in the Light Newsweek’s America’s Most
Responsible Companies of 2023 2023 requirements for shareholders to
NAREIT Leader in the Light for amend bylaws
sixth consecutive year
Top 100 ranking on JUST Capital Appointed Mary Hogan Preusse as
Chairman of the Board, which
America’s Most JUST Companies 2022
Top 10 aligns with Digital Realty’s
In the U.S. EPA Green Power commitment to strong governance
Partnership 12 philanthropic organizations
supported as part of ‘Giving Formalized oversight of ESG by
Tuesday’ campaign the Nominating & Corporate
2021
116 MW Governance Committee;
Signatory to the UN Global
New renewables announced in Compact
Germany Demonstrated senior leadership
and employee commitment to
Diversity, Equity & Inclusion; Enhanced Board diversity with the
established five employee 2020 addition of three new Directors
Top Rated resource groups; signed CEO
ESG Companies for 2023 Action Pledge for Diversity
Established proxy access for
and Inclusion 2019 shareholders
9
PlatformDIGITAL®
Designed for an Accelerating
Digital Economy
Enabling Enterprises to Harness Data Growth
10
Digital Economy and Digital Transformation
Driving Data Center Demand
Growing and emerging demand drivers that have further accelerated over the past year are driving the need for digital infrastructure globally
Digital Economy & Transformation Accelerated Digital Trends Digital Infrastructure Demand
Solid Demand Drivers Which Continue to Grow Digitization of Customer Interactions Total Enterprise / Carrier Neutral Leased Global (2)
$M 35,465
32,960
Avg. Share of Customer Interactions that are Digital (%) 30,600
28,388
26,291
8%
Cloud Enterprise
Computing Modernization
CAGR
36% 58% 2022 - 2026
2019 2020
Streaming & E-Payment Precrisis COVID-19 Crisis
Social and E-
Media Commerce
Rate of Digital Customer Interactions has
Accelerated from Prior Forecasts by 3yrs (1)
2022 2023E 2024E 2025E 2026E
Emerging Trends with Enormous Potential Digitization of Products & Services Total Hyperscale Leased Global (2)
$M
Avg. Share of Products and/or Services that are
Artificial Internet of Partially or Fully Digitized (%) 15,854
Intelligence Things 13,883
12,082
8,689
10,401
16%
Edge
35% 55% CAGR
2022 - 2026
5G 2019 2020
Technology Computing COVID-19 Crisis
Precrisis
Rate of Products & Services that are Digitized

has Accelerated from Prior Forecasts by (1) 7yrs (1)
2022 2023E 2024E 2025E 2026E
Source: Company data. McKinsey & Company report. IMR.
1) Years ahead of the average rate of adoption from 2017 to 2019. Based on the average percentage of adoption in each survey, McKinsey & Company calculated a trendline to represent the average rate of adoption in 2017, 2018, and just before the crisis, which
respondents were asked about in the 2020 survey. The acceleration time frame was calculated from the amount of time it would have taken to reach the current level of digital adoption respondents report if the precrisis pace of change had continued. 11
2) Sourced from Synergy Research Group, Worldwide Forecast 2022
PlatformDIGITAL® 2.0
A Full-Featured Open Global Platform
Any-To-Any
Interconnection
Self-Service Enterprise
Experience Capacity
12
Connected Campus Strategy
Solving for the Complete Deployment: Land and Expand
13
Multi-Tiered Cloud Architectures
Solving for the Complete Deployment: Land and Expand
Connected Campus
Colo Network Access Nodes Higher
Connectivity
 High network requirements to efficiently distribute and aggregate traffic
 Applications: network connectivity, network peering and WAN optimization
 Primary networking gear installed (e.g., routers and switches)
 1-20 cabinets
Service Aggregation Nodes

 Mission-critical and latency-sensitive deployments
 Applications: CDN infrastructure, cloud services
 Servers, storage, load-balancers and cache infrastructure
 10-100 cabinets
Server Farms
 Large-scale computing and storage deployments
 Applications: cloud and content infrastructure, Higher Compute
data analytics, artificial intelligence and web hosting Capacity
Hyperscale  100+ cabinets
14
The Connected Campus:
Digital Ashburn
510+
(1)
DLR’s in-place IT capacity in the
world’s largest data center market (2)
MWs
94% in Northern Virginia, consistent with

prior quarter
Occupancy
516k DLR’s active development pipeline

Square Feet
Note: As of March 31, 2023. 15

1. Represents Digital Realty’s white space IT load within its consolidated Northern Virginia portfolio.
2. Source: Cushman & Wakefield’s 2022 Global Data Center Market Comparison report.
Density at Scale and at Hubs
Expand, Tether, and Densify Data Center Campuses
CHICAGO CAMPUS NEW YORK CAMPUS DALLAS CAMPUS FRANKFURT CAMPUS
350 E. CERMAK 111 8th AVENUE 2323 BRYAN STREET HANAUER LANDSTRAßE
Connect@Scale suites, Connect@Scale suites, Connect@Scale suites, Connect@Scale suites,

Powered Base Building, Powered Base Building, Powered Base Building, Powered Base Building,
Connect@Gateway Connect@Gateway Connect@Gateway Connect@Gateway
colocation colocation colocation colocation
FRANKLIN PARK PISCATAWAY RICHARDSON WILHELM-FAY-STRAßE
16
Digital Realty is the Edge
Network Density that Promotes
Innovation and Collaboration
Amsterdam Atlanta Chicago
27 214K+
Science Park 56 Marietta St. 350 E. Cermak
Metros CROSS-CONNECTS
Globally Where Our
GLOBALLY
Internet Gateways Are
Located
Johannesburg London Marseille
3,340
JB1 Isando Sovereign House MRS3
52
ASSETS NETWORK INSTANCES
With Over 1,000 GLOBALLY
Cross-Connects Each
New York Seattle

111 8th Ave. Westin Building
Note: As of March 31, 2023.

17
Diversifying Product Offerings
ServiceFabric™ Removes Complexity from Enterprise Hybrid IT Environments
Partners Customers Developers
INTERFACE
Orchestration Layer
APIs Portal Removes complexity
Connect seamlessly to open

Interconnection Layer partner ecosystem
services built on global
backbone
Implemented on best-of-breed
Data Center Layer infrastructure and services in
multiple metros globally
18
ServiceFabric™ Connect: Private Connections Made Easy
1 Establish a Port
Customers establish a port which
supports multiple virtual private
connections
Metro
2 Connect
Customers establish direct, private
connections to multiple Cloud Service
Providers, Network Providers, SaaS
Providers and other participants of the
platform from a single interface
3 Establish Virtual Router

Customers establish a virtual router to
optimize cloud-to-cloud workflows
19
ServiceFabric™ Connect Use Cases:
Multi-Cloud Connectivity and Beyond
Multi-Cloud Redundant Inter-metro/ Connectivity Disaster Service-chain

Connectivity Cloud Inter-region to ecosystems Recovery Multiple
Connectivity Connectivity in 3rd party Set-up Services
facilities
One port to Redundant Connect to Connect to any Connect your Utilize virtual
many CSPs cloud availability B2B Partners or of the partner- data center router to
zones your own enabled data deployments/ combine
deployments centers Provide multiple virtual
globally redundant services or
connection to exchange data
your carrier directly between
circuits CSPs
ServiceFabric™ Connect
20
ServiceFabric™ Connect
Available in 30+ global metros
North America EMEA APAC
14 Metros 13 Metros 5 Metros
Regional • 10G / 100G native ServiceFabric™ • 10G native ServiceFabric™ ports • 10G / 100G native
Launch ports • 100G backbone ServiceFabric™ ports
Capabilities • 100G backbone • Available from 58 sites • 10G backbone
• Available from 35 sites • Available from 6 sites
130+ 110+
Legend Digital Realty Facilities Connected Global Cloud Regions
ServiceFabric™ Availability
215+ 350+
On Ramps Available 3rd Party Enabled Data Centers
21
Conservative Financial Strategy
Committed to a Strong
Investment Grade Balance Sheet
Supported by Multiple Funding Sources
22
Proven Track Record of Sustainable Growth
Disciplined Financial Management
2018 1Q23 Better/ Worse Change
Properties / Data Centers (1) 214 314  47%
Total Enterprise Value (2) $35 billion $48 billion  37%

SIZE & DIVERSIFICATION
RMZ Rank 5th 8th (3)  -3 places

IG-equivalent AAA-rated Fortune 50
Top Tenant (% ABR)
Facebook (6.8%) Software Company (10.0%)  3.2 bps
Top 20 Tenant Concentration (% of ABR) 53.5% 49.3%  (420 bps)
Metro Areas (1) 35 metro areas 52 metro areas  49%
Net Debt / Adjusted EBITDA (4) 6.2x (4) 7.1x (4)  0.9x
RATIOS
Adjusted EBITDA / Fixed Charges (5) 4.0x (5) 4.4x (5)  0.4x
% Unhedged Variable Rate Debt 26% 19%  (700 bps)

DEBT
Secured Debt / Total Assets 3% 2%  (100 bps)

RATINGS
Moody's / S&P / Fitch Baa2 / BBB / BBB Baa2 / BBB / BBB No Change
Note: Balance sheet data as of December 31, 2018 and March 31, 2023 unless otherwise indicated.
1) Represents those locations where Digital Realty has an interest in one or more operating data centers. Excludes those locations where Digital Realty has an interest in land or JV but are not yet operational.
2) Total enterprise value calculated as the market value of common equity, plus liquidation value of preferred equity and total debt at balance sheet carrying value as of December 31, 2018 for 2018 and March 31, 2023 for 1Q23.
3) As of March 31, 2023.
4) Calculated as total debt at balance sheet carrying value, plus finance lease obligations, plus share of unconsolidated joint venture debt, less unrestricted cash and cash equivalents divided by Adjusted EBITDA (including Digital Realty’s pro rata share of unconsolidated joint venture EBITDA). Adjusted EBITDA is a non-
GAAP financial measure. For a description of Adjusted EBITDA and the calculation of these ratios, please see the Appendix.
5) Calculated as Adjusted EBITDA (including Digital Realty’s pro rata share of unconsolidated joint venture EBITDA) divided by fixed charges. Fixed charges include GAAP interest expense, capitalized interest, scheduled debt principal payments and preferred dividends for the quarter. Adjusted EBITDA is a non-GAAP
financial measure. For a description of Adjusted EBITDA and the calculation of these ratios, please see the Appendix.
23
Consistent Access to Capital
Portfolio Growth Financed by Match-Funding
Access to Capital in Multiple Currencies Enables Digital Realty to Match-Fund across its Global Portfolio
FULL MENU OF WELL-KNOWN, SEASONED ISSUER

CAPITAL OPTIONS EQUITY RAISED SINCE 2009 ACROSS MULTIPLE CURRENCIES
 Unsecured Senior Notes
 U.S. Dollar Bonds Bonds Amount Year
 Sterling Bonds Outstanding in mm Issued
 Euro Bonds 2.625% Notes due 2024 €600 2016
Common Equity Issuance 2.500% Notes due 2026 €1,075 2019

 CHF Bonds
1.125% Notes due 2028 €500 2019
 Green Bonds Dispositions
0.625% Notes due 2025 €650 2020
Debt Private Placement
 Preferred Equity Issuance 1.500% Notes due 2030 €750 2020
Unsecured Notes $9.5 1.25% Notes due 2031 €500 2020
 Multi-Currency 1.00% Notes due 2032 €750 2020
Global Credit Facility 0.625% Notes due 2031 €1,000 2021
 Unsecured Term Loans $6.6 1.375% Notes due 2032 €750 2022
 Property-Level Secured 3.70% Notes due 2027 $1,000 2017
Debt $3.0 4.45% Notes due 2028 $650 2018
3.60% Notes due 2029 $900 2019
$1.5 5.55% Notes due 2028 $900 2022
Preferred  Perpetual Preferred Equity $1.4 4.25% Notes due 2025 £400 2013
Equity  Convertible Preferred Equity $1.2 2.75% Notes due 2024 £250 2017
$1.1
3.30% Notes due 2029 £350 2017
$0.8 3.75% Notes due 2030 £550 2018

$0.6 $0.5 $0.5 0.20% Notes due 2026 ₣275 2021
 Asset Sales
$0.4 0.55% Notes due 2029 ₣270 2021
 Joint Venture Capital $0.3
Equity 0.60% Notes due 2023 ₣100 2022
 ATM $0.1 $0.0 1.70% Notes due 2027 ₣150 2022
 Common Equity
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Note: Equity issuances and total bonds outstanding as of March 31, 2023. 24
Committed to Conservative Capital Structure
Growing Enterprise Value While Maintaining Target Credit Metrics
CREDIT METRICS
CAPITAL STRUCTURE
Net Debt (1) / LQA Adjusted EBITDA (2) Fixed Charge Coverage (2)(3)
6.9x 7.1x
37%
6.4x
6.1x 6.0x 6.2x
5.6x 5.6x 5.7x 5.9x 5.8x 5.8x 5.9x 5.7x 5.7x 5.7x
5.4x 5.4x
5.1x 4.9x Debt
4.4x 4.4x
Debt Preferred Equity
$1.3
3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23
As Reported As Adjusted (4) As Reported As Reported As Adjusted (4) As Reported
Note: As of March 31, 2023 except as noted. Please see the Appendix for calculation of ratios.
1) Net debt is calculated as total debt at balance sheet carrying value, plus capital lease obligations, plus our share of unconsolidated joint venture debt, less unrestricted cash and cash equivalents. Revolver Capacity
2) Adjusted EBITDA is a non-GAAP financial measure. LQA Adj. EBITDA is last quarter Adjusted EBITDA (including our pro rata share of unconsolidated joint venture EBITDA) multiplied by four. For a description of Adjusted EBITDA, please see the
Appendix.
3) Calculated as Adjusted EBITDA divided by fixed charges. Fixed charges consist of GAAP interest expense (including our share of unconsolidated JV interest expense), capitalized interest (including our share of unconsolidated JV capitalized interest),
scheduled debt principal payments and preferred dividends.
4) As adjusted for the following assumptions: the hypothetical full physical settlement of the September 2021 forward sales agreements and the proceeds therefrom repaying borrowings under our global revolving credit facilities; 4Q21 adjusted for €750mm
1.375% notes due 2032 issued in January 2022 and redemption of $450mm 4.75% notes due 2025 in February 2022. 2Q22 numbers do not reflect post-quarter end borrowings under our global revolving credit facility and partial physical settlement of
forward sales agreement to fund the Teraco acquisition. 3Q22 adjusted for the full quarter contribution from Teraco. As reported Net Debt / LQA Adjusted EBITDA for 3Q21, 4Q21, 1Q22, 2Q22, and 3Q22 was 6.0x, 6.1x, 6.3x, 6.2x and 6.7x, respectively.
As reported fixed charge coverage for 3Q21, 4Q21, 1Q22, 2Q22 and 3Q22 was 5.0x, 5.4x, 5.5x, 6.0x, and 5.5x, respectively.
25
Capital Structure(2)
Balance Sheet Update
Recent Activity Enhances Liquidity Equity Market
Preferred
1% Floating Rate
Debt
Capitalization(1)
20%
$29 Bn
Fixed Rate
Debt
Credit Metric Target 4Q22A 1Q23A 31%
Equity
59%
Net Debt to Adj. EBITDA 5.5x Average 6.9x 7.1x Enterprise
Fixed Rate Debt
80%
Value(1)(2) Variable Rate
Fixed Charge Coverage > 3.0x 4.9x 4.4x
$49 Bn
Debt
8%
Capital Raising Since 1Q23 Earnings Debt Maturity Schedule(2)

($ in billions)
 Realized approximately $150 million of net proceeds from non-core
disposition. $4.4
 Raised approximately $1.1 billion of gross proceeds from the sale of 11.3 $3.0
million shares of common stock under the At-The-Market (“ATM”) equity $2.5 €
offering program. Includes net proceeds of approximately 7.8 million shares $
$1.6 $1.7 $1.6 $1.6
that raised gross proceeds of $750 million and 3.5 million shares in forward $1.7
€ ₣
equity transactions for which the company did not initially receive any $1.0
€ R
proceeds. € €
$0.1 ¥$
₣ ¥
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 +
Pro Rata Share of JV Debt Secured Mortgage Debt Unsecured Senior Notes - USD Unsecured Senior Notes - GBP
Unsecured Senior Notes - EUR Unsecured Senior Notes - CHF Other Unsecured Debt Unsecured Green Senior Notes - CHF
Unsecured Green Senior Notes - EUR Euro Term Loan Unsecured Credit Facilities USD Term Loan
1) As of March 31, 2023.

2) As of March 31, 2023, except as noted. Includes Digital’s pro rata share of unconsolidated joint venture debt.
26
DLR Continues to Offer a Premium Dividend
Seventeen Consecutive Years of Dividend Increases
Cash Dividend /Common Share
$4.88
5.0%
$4.64
$4.48
$4.32
$4.04
$3.72
$3.52
$3.32 $3.40
$3.12 Dividend Yield (1)
$2.92
$2.72
10%
$2.02
$1.47
$1.17 $1.26
$1.00 $1.08
CAGR Dividend Payout

(2005 – 2022)
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
1) Dividend yield based on March 31, 2023 closing stock price of $98.31 and annualized 2Q23 dividend.
27
Prudent Financial Management
Positioning for Growth
INVESTMENT GRADE BALANCE SHEET

Consistently maintain balance sheet that is positioned for growth
ORGANIC GROWTH
Focus on driving higher same-capital cash NOI growth
RISK-ADJUSTED RETURNS
Leverage our full product suite and global footprint to drive premium returns
BUILD AND EXPAND

Continue to prudently expand to meet our customers' growing needs
OPERATING EFFICIENCIES
Capitalize on operating efficiencies derived from our scale and expertise
DIVERSIFIED SOURCES OF CAPITAL

Access to a wide variety of public and private capital from around the world
STAKEHOLDER ALIGNMENT
Aligned our team with stakeholders
Financial Results
1Q23 Financial Results
Note: Certain data in this section was originally posted to the Company’s Website on April 27, 2023 and has not been updated to reflect changes occurring after that date.
29
High-Quality, TOP 20 CUSTOMERS
Customer Rank Locations % of Customer Rank Locations % of
Diversified ARR (1) ARR (1)
Customer Base
Fortune 50 Fortune 25 Tech
1. Software Company
64 10.0% 11. Company
49 1.7%
2. Social Content Platform 21 4.0% 12. 15 1.7%
3. Global Cloud Provider 57 3.8% 13. Social Media Platform 8 1.6%
• Top customers have a 4. 40 3.6% 14. 25 1.4%
presence in 45 different 5. 35 3.4% 15. 129 1.4%
locations, on average 6.
Fortune 25 Investment
Grade-Rated Company 28 2.9% 16. 17 1.1%
7. 17 2.3% 17. 100 1.1%
8. 8 2.2% 18. 39 1.1%
9. Fortune 500 19.

15 2.2% 76 1.0%
SaaS Provider
10. 45 1.9% 20. 118 1.0%
TOTAL ANNUALIZED RECURRING REVENUE 49.4%
Note: As of March 31, 2023. Represents consolidated portfolio plus our managed portfolio of unconsolidated joint ventures based on our ownership percentage. Our direct customers may be the entities
named in this table above or their subsidiaries or affiliates.
1) Calculation based on annualized recurring revenue – the monthly contractual base rent (defined as cash base rent before abatements), and Interconnection revenue under existing leases as of March 30
31, 2023, multiplied by 12.
Connected Data Communities
Strong 0-1 MW + IX Bookings
122
new logos
$48 million
total 1Q bookings from
0-1 MW + record Interconnection
57%
of total 1Q bookings from
0-1 MW + Interconnection
~41% Auto
Manufacturer
Asset Manager
of new signed leases contained

inflation-linked increases
31
Robust Backlog BACKLOG ROLL-FORWARD (1) COMMENCEMENT TIMING (2)
Strong 1Q $ in millions $ in millions
Commencements $69M $112M
$59M
$477M $106M
$434M $72M $434M
$132M $47M
• Robust Backlog of
$434 Million
$146M
$420M $374M $369M
• $112 Million of $201M
Commencements
$176M
• $201 Million to
Commence in the
Remainder of 2023 4Q22 Backlog Signed Commenced 1Q23 Backlog 2023 2024 2025+ 1Q23 Backlog
Digital Realty Backlog Unconsolidated Joint Venture Backlog

Note: Totals may not add up due to rounding.
1. Amounts shown represent GAAP annualized base rent from leases signed.
2. Amounts shown represent GAAP annualized base rent from leases signed, but not yet commenced, based on estimated future commencement date at time of signing. Actual commencement
dates may vary.
32
Lease Expirations % of Lease Expirations by Annualized Base Rent (1)
Provide Strong >1 MW 0-1 MW Other
Re-Pricing
30%
Opportunities 25% >3.0%

2023 Guidance (2) for
19.5%
20% cash rental rate on
• Shorter term 0-1 MW renewals
15.8%
leases provide frequent 15%
13.5%
opportunities to drive
4.8 years
10.7%
price increases 10% 9.3%
7.7%
• Evenly staggered, 5% 4.0% 4.6% 4.9%

3.9%
3.0%
Weighted avg.
longer term >1MW remaining lease term
leases provide stability 0%
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 >2031
and visibility

1) Represents consolidated portfolio plus our managed portfolio of unconsolidated joint ventures based on our ownership percentage. Annualized base rent represents the
monthly contractual base rent (defined as cash base rent before abatements) under existing leases as of March 31, 2023, multiplied by 12.
2) Guidance as of April 27, 2023. 33
Improving Pricing
1Q23 RE-LEASING SPREADS
Environment
Strong Re-Leasing Spreads 0-1 MW > 1 MW OTHER (1) TOTAL
RENTAL RATE CHANGE RENTAL RATE CHANGE RENTAL RATE CHANGE RENTAL RATE CHANGE
4.6% 4.4% 2.8% 4.5%

CASH CASH CASH CASH
• 4.5% Cash Re-Leasing 5.1% 11.8% 5.9% 6.4%
Spreads with Balanced GAAP GAAP GAAP GAAP
Contributions
• Continued Strength Signed renewal leases Signed renewal leases Signed renewal Signed renewal
Within 0-1 MW representing representing leases representing leases representing
Segment $118 million $30 million $2 million $150 million

of annualized CASH of annualized CASH of annualized CASH of annualized CASH
rental revenue rental revenue rental revenue rental revenue
Note: Totals may not add up due to rounding. Rental rate change represents the beginning rental rate on leases renewed, relative to the ending rental rate at expiration, weighted by net rentable
square feet.
1. Other includes Powered Base Building® shell capacity as well as storage and office space within fully improved data center facilities.
34
Power Exposure
by Region
2,351MW (1)
72% Pass Thru
Impact of Higher Energy 92% Hedged (2)
Prices Mitigated By Lease
Structures and Hedging
1,308MW (1)
85% Pass Thru
86% Hedged
130MW (1) North America EMEA

100% Pass Thru
APAC
676MW (1)
56% Pass Thru
92% Hedged Latin America
239MW (1)
96% Pass Thru
99% Hedged
Procure Renewable Energy
Supply/Demand Hedging of Power to
for Long-term Pricing &
Forecasting Mitigate Price Risks
Carbon Reduction
Note: As of March 31, 2023 and represents consolidated portfolio plus our managed portfolio of unconsolidated joint ventures based on our ownership percentage.
1) MWs represents UPS-backed utility power dedicated to Digital Realty’s operated data center space.
2) Calculated by taking the weighted average % hedged in each unregulated market.
35
EXPOSURE BY REVENUE (1)
51% 25% 6% 5% 3% 2% 2% 1% 1% <1% <1% <1% <1% <1% <1% <1% <1% <1%
USD EURO GBP SGD ZAR BRL JPY CHF AUD CAD SEK DKK HKD HRK KES KRW NGN MZN
Revenue Exposure
by Currency <1%
6%
< 1%
< 1%
Currency Headwinds 25%

1% < 1%
Abating 51%
<1%
2%
<1%
<1%
< 1% 5%
• Y/Y Headwind, but Modest 2%

< 1%
Sequential Tailwind 3%
1%
CORE FFO/SHARE EXPOSURE (2) 1Q22 U.S. DOLLAR INDEX 1Q23

115
110
1.74%
1.03% 105
0.13%
2023E 100
$6.70 / Sh
SOFR GBP
+/- 100 +/- 10% 95
EUR bps
+/- 10% 90
85
Note: Totals may not add up due to rounding. Jan-22 Apr-22 Jul-22 Oct-22 Jan-23 April-23
1. As of March 31, 2023. Includes Digital Realty’s share of revenue from unconsolidated joint ventures.
2. Core FFO is a non-GAAP financial measure. For a definition of Core FFO and reconciliation to its nearest GAAP equivalent, see the Appendix. 36
Constant-
Y/Y Growth Rate, as Reported Y/Y Growth Rate, Constant Currency
Currency Analysis 21.9%

Improving Fundamentals
18.8%
• Further Acceleration in
Same-Capital Revenue 8.6%
Growth in 1Q 6.6%
5.2%
• 5.2% CC Same-Capital 3.4%
Cash NOI Growth
Revenue Growth Same-Capital Same-Capital Cash NOI

Data Center Revenue Growth
Growth (1)
Note: Same-Capital Cash NOI and Constant Currency Same-Capital Cash NOI are non-GAAP financial measure. For a definition of these measures and reconciliations to their nearest GAAP
equivalents, see the Appendix.
1. Data Center Revenue is total revenue less tenant reimbursements.
37
Same-Capital Cash Net Operating Income(1) Performance
Year-Over-Year % Change
6% 1Q23 Actual:
3.4%
3%
0%
-3%
-6%
-9% (2)
FY17 FY18 FY19 FY20 FY21 FY22 FY23E
1. Same –Capital Net Operating Income is a non-GAAP financial measure. For a reconciliation of Stabilized Cash Net Operating Income to the nearest GAAP equivalent, see the Appendix.
2. FY2023 represents Same-Capital Cash Net Operating Income guidance from February 16, 2023 at the midpoint of 3.5%.
38
€
Matching the Duration of Assets and Liabilities
Modest Near-Term Maturities, Well-Laddered Debt Schedule
DEBT PROFILE
DEBT MATURITY SCHEDULE AS OF March 31, 2023 (1)(2)
(U.S. $ in billions)
$4.4
Unsecured
97% Secured
Unsecured
5.0 YEARS 39
$3.0
2.8 %
Weighted Avg. Weighted Avg.
Maturity (1)(2) Coupon (1)(3)
$2.5 €
$ Fixed
$1.7 81%
$1.7 $1.6 $1.6 $1.6 Fixed Floating
€ ₣
$1.0
€
€ R
€ Euro
$0.1 ¥$ USD
₣ ¥ 82% (3) GBP
Non-USD
2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 +
Pro Rata Share of JV Debt Secured Mortgage Debt Unsecured Senior Notes - USD Other
Unsecured Senior Notes - GBP Unsecured Senior Notes - EUR Unsecured Senior Notes - CHF
Other Unsecured Debt Unsecured Green Senior Notes - CHF Unsecured Green Senior Notes - EUR
Euro Term Loan Unsecured Credit Facilities USD Term Loan

1. Includes Digital Realty’s pro rata share of unconsolidated joint venture loans and debt securities.
2. Assumes exercise of extension options.
3. Includes impact of cross-currency swaps.
39
HISTORICAL BOOKINGS
Digital
ANNUALIZED GAAP BASE RENT
$ in millions
Transformation
Driving Steady
$150
Demand
Global Full-Product $100
Spectrum Provides
Broadest Solutions
$50
• Record Interconnection
Bookings in 1Q
$0
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
• Strong 0-1 MW
Bookings 1Q23 BOOKINGS
0-1 MW INTERCONNECTION >1 MW OTHER(1) TOTAL BOOKINGS

$33.8 mm $14.1 mm $34.8 mm $0.6 mm $83.3 mm
Note: Totals may not add up due to rounding. Digital Realty revised its reporting categories in 2Q 2020. For prior periods, "0-1 MW" includes Colocation, ">1 MW" includes Turn-Key Flex, "Other" includes Power
Base Building and Non-Technical. “Interconnection” is unchanged.
1. Other includes Powered Base Building® shell capacity as well as storage and office space within fully improved data center facilities..
40
2023 Outlook
Capital Recycling and Funding Plan
Harvest Value from Core Hyperscale Assets to Redeploy into Premium Growth Opportunities
1/4 3/4 Dispo + JV

Non – Core Hyperscale Capital
Dispositions JVs Guidance
• Non-Campus Locations • Core, Stabilized, Hyperscale • $1.5 - $2.5 billion in 2023

• Secondary Markets Assets w/Long Term Leases • 0% - 10% cap rate
• Non-Technical • Hyperscale Development in
• Higher and Better Use Core Markets
Redevelopments
41
 Presenter Name
 15/09/22
Appendix
Appendix
Management Statements on Non-GAAP Measures
The information included in this presentation contains certain non-GAAP financial measures that management believes are helpful in understanding our business, as further described below. Our definition and calculation of non-GAAP financial measures may differ from those of other REITs, and,
therefore, may not be comparable. The non-GAAP financial measures should not be considered alternatives to net income or any other GAAP measurement of performance and should not be considered an alternative to cash flows from operating, investing or financing activities as a measure of liquidity.
Funds From Operations (FFO):

We calculate funds from operations, or FFO, in accordance with the standards established by the National Association of Real Estate Investment Trusts, or Nareit, in the Nareit Funds From Operations White Paper - 2018 Restatement. FFO represents net income (loss) (computed in accordance with
GAAP), excluding gains (or losses) from real estate transactions, impairment of investment in real estate, real estate related depreciation and amortization (excluding amortization of deferred financing costs), depreciation related to non-controlling interests, unconsolidated JV real estate related
depreciation & amortization, non-controlling interests in operating partnership and after adjustments for unconsolidated partnerships and joint ventures. Management uses FFO as a supplemental performance measure because, in excluding real estate related depreciation and amortization and gains and
losses from property dispositions and after adjustments for unconsolidated partnerships and joint ventures, it provides a performance measure that, when compared year over year, captures trends in occupancy rates, rental rates and operating costs. We also believe that, as a widely recognized measure
of the performance of REITs, FFO will be used by investors as a basis to compare our operating performance with that of other REITs. However, because FFO excludes depreciation and amortization and captures neither the changes in the value of our data centers that result from use or market
conditions, nor the level of capital expenditures and capitalized leasing commissions necessary to maintain the operating performance of our data centers, all of which have real economic effect and could materially impact our financial condition and results from operations, the utility of FFO as a measure
of our performance is limited. Other REITs may not calculate FFO in accordance with the NAREIT definition and, accordingly, our FFO may not be comparable to other REITs’ FFO. FFO should be considered only as a supplement to net income computed in accordance with GAAP as a measure of our
performance.
Core Funds from Operations (Core FFO):

We present core funds from operations, or Core FFO, as a supplemental operating measure because, in excluding certain items that do not reflect core revenue or expense streams, it provides a performance measure that, when compared year over year, captures trends in our core business operating
performance. We calculate Core FFO by adding to or subtracting from FFO (i) other non-core revenue adjustments, (ii) transaction and integration expenses, (iii) loss from early extinguishment of debt, (iv) gain on / issuance costs associated with redeemed preferred stock, (v) severance, equity
acceleration, and legal expenses, (vi) gain/loss on FX revaluation, and (vii) other non-core expense adjustments. Because certain of these adjustments have a real economic impact on our financial condition and results from operations, the utility of Core FFO as a measure of our performance is limited.
Other REITs may calculate Core FFO differently than we do and accordingly, our Core FFO may not be comparable to other REITs’ Core FFO. Core FFO should be considered only as a supplement to net income computed in accordance with GAAP as a measure of our performance.
EBITDA and Adjusted EBITDA:

We believe that earnings before interest, loss from early extinguishment of debt, income taxes, and depreciation and amortization, or EBITDA, and Adjusted EBITDA (as defined below), are useful supplemental performance measures because they allow investors to view our performance without the
impact of non-cash depreciation and amortization or the cost of debt and, with respect to Adjusted EBITDA, unconsolidated joint venture real estate related depreciation & amortization, unconsolidated joint venture interest expense and tax, severance, equity acceleration, and legal expenses, transaction
and integration expenses, gain on sale / deconsolidation, impairment of investments in real estate, other non-core adjustments, net, non-controlling interests, preferred stock dividends, including undeclared dividends, and issuance costs associated with redeemed preferred stock. Adjusted EBITDA is
EBITDA excluding unconsolidated joint venture real estate related depreciation & amortization, unconsolidated joint venture interest expense and tax, severance, equity acceleration, and legal expenses, transaction and integration expenses, gain on sale / deconsolidation, impairment of investments in
real estate, other non-core adjustments, net, non-controlling interests, preferred stock dividends, including undeclared dividends, and gain on / issuance costs associated with redeemed preferred stock. In addition, we believe EBITDA and Adjusted EBITDA are frequently used by securities analysts,
investors and other interested parties in the evaluation of REITs. Because EBITDA and Adjusted EBITDA are calculated before recurring cash charges including interest expense and income taxes, exclude capitalized costs, such as leasing commissions, and are not adjusted for capital expenditures or
other recurring cash requirements of our business, their utility as a measure of our performance is limited. Other REITs may calculate EBITDA and Adjusted EBITDA differently than we do and, accordingly, our EBITDA and Adjusted EBITDA may not be comparable to other REITs’ EBITDA and Adjusted
EBITDA. Accordingly, EBITDA and Adjusted EBITDA should be considered only as supplements to net income computed in accordance with GAAP as a measure of our financial performance.
Net Operating Income (NOI) and Cash NOI:

Net operating income, or NOI, represents rental revenue, tenant reimbursement revenue and interconnection revenue less utilities expense, rental property operating expenses, property taxes and insurance expenses (as reflected in the statement of operations). NOI is commonly used by stockholders,
company management and industry analysts as a measurement of operating performance of the company’s rental portfolio. Cash NOI is NOI less straight-line rents and above- and below-market rent amortization. Cash NOI is commonly used by stockholders, company management and industry analysts
as a measure of property operating performance on a cash basis. However, because NOI and cash NOI exclude depreciation and amortization and capture neither the changes in the value of our data centers that result from use or market conditions, nor the level of capital expenditures and capitalized
leasing commissions necessary to maintain the operating performance of our data centers, all of which have real economic effect and could materially impact our results from operations, the utility of NOI and cash NOI as measures of our performance is limited. Other REITs may calculate NOI and cash
NOI differently than we do and, accordingly, our NOI and cash NOI may not be comparable to other REITs’ NOI and cash NOI. NOI and cash NOI should be considered only as supplements to net income computed in accordance with GAAP as measures of our performance.
Same–Capital Cash NOI:

Same-Capital Cash NOI represents buildings owned as of December 31, 2021 with less than 5% of total rentable square feet under development. Excludes buildings that were undergoing, or were expected to undergo, development activities in 2022-2023, buildings classified as held for sale, and
buildings sold or contributed to joint ventures for all periods presented. Prior period numbers adjusted to reflect current same-capital pool.
Constant-Currency Same-Capital Cash NOI:

We calculate Constant-Currency Same-Capital Cash NOI by adjusting the Same-Capital Cash NOI for foreign currency translations. Adjustment calculated by holding currency translation rates for the current year constant with average currency translation rates that were applicable to the same periods in
the prior year.
43
Appendix
Forward-Looking Statements
This information in this presentation contains forward-looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and
results to differ materially. Such forward-looking statements include statements relating to: our economic outlook; our expected investment and expansion activity; our joint ventures; the expected benefits and timing of PlatformDIGITAL®; the ServiceFabric™;
ServiceFabric Connect™; public cloud services spending; our sustainability initiatives; the expected effect of foreign currency translation adjustments on our financials; anticipated continued demand for our products and services; our liquidity; demand drivers and
economic growth outlook; business drivers; our expected development plans and completions, including timing, total square footage, IT capacity and raised floor space upon completion; expected availability for leasing efforts and colocation initiatives; organizational
initiatives; our product offerings; our connected data communities; joint venture opportunities; occupancy and total investment; our expected investment in our properties; our estimated time to stabilization and targeted returns at stabilization of our properties; our
expected future acquisitions; acquisitions strategy; available inventory and development strategy; the signing and commencement of leases, and related rental revenue; lag between signing and commencement of leases; our 2023 backlog; future rents; our expected
same store portfolio growth; our expected growth and stabilization of development completions and acquisitions; lease rollovers and expected rental rate changes; our re-leasing spreads; our expected yields on investments; our expectations with respect to capital
investments at lease expiration on existing data center or colocation space; debt maturities; lease maturities; our other expected future financial and other results, and the assumptions underlying such results; our customers’ capital investments; our plans and
intentions; future data center utilization, utilization rates, growth rates, trends, supply and demand; datacenter expansion plans; estimated kW/MW requirements; capital expenditures; the effect new leases and increases in rental rates will have on our rental revenues
and results of operations; estimates of the value of our development portfolio; our ability to meet our liquidity needs, including the ability to raise additional capital; market forecasts; projected financial information and covenant metrics; Core FFO run rate and NOI
growth; other forward looking financial data; leasing expectations; our exposure to tenants in certain industries; our expectations and underlying assumptions regarding our sensitivity to fluctuations in foreign exchange rates; and the sufficiency of our capital to fund
future requirements. You can identify forward-looking statements by the use of forward-looking 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 or similar words or phrases which are predictions of or indicate future events or trends and discussions which do not relate solely to historical matters. Such statements are based on management’s beliefs and assumptions made based on
information currently available to management. Such statements are subject to risks, uncertainties and assumptions and are not guarantees of future performance and may be affected by known and unknown risks, trends, uncertainties and factors that are beyond our
control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Some of the risks and uncertainties that may cause our actual
results, performance or achievements to differ materially from those expressed or implied by forward-looking statements include, among others, the following: reduced demand for data centers or decreases in information technology spending; increased competition or
available supply of data center space; decreased rental rates, increased operating costs or increased vacancy rates; the impact on our or our customers’, suppliers’ or business partners’ operations during a pandemic, such as COVID-19; changes in political conditions,
geopolitical turmoil, political instability, civil disturbances, restrictive governmental actions or nationalization in the countries in which we operate; the suitability of our data centers and data center infrastructure, delays or disruptions in connectivity or availability of power,
or failures or breaches of our physical and information security infrastructure or services; our dependence upon significant customers, bankruptcy or insolvency of a major customer or a significant number of smaller customers, or defaults on or non-renewal of leases by
customers breaches of our obligations or restrictions under our contracts with our customers; our inability to successfully develop and lease new properties and development space, and delays or unexpected costs in development of properties; the impact of current
global and local economic, credit and market conditions, including impacts of inflation; global supply chain or procurement disruptions, or increased supply chain costs; our inability to retain data center space that we lease or sublease from third parties; information
security and data privacy breaches; difficulties managing an international business and acquiring or operating properties in foreign jurisdictions and unfamiliar metropolitan areas; our failure to realize the intended benefits from, or disruptions to our plans and operations
or unknown or contingent liabilities related to, our recent acquisitions; our failure to successfully integrate and operate acquired or developed properties or businesses; difficulties in identifying properties to acquire and completing acquisitions; risks related to joint
venture investments, including as a result of our lack of control of such investments; risks associated with using debt to fund our business activities, including re-financing and interest rate risks, our failure to repay debt when due, adverse changes in our credit ratings or
our breach of covenants or other terms contained in our loan facilities and agreements; our failure to obtain necessary debt and equity financing, and our dependence on external sources of capital; financial market fluctuations and changes in foreign currency exchange
rates; adverse economic or real estate developments in our industry or the industry sectors that we sell to, including risks relating to decreasing real estate valuations and impairment charges and goodwill and other intangible asset impairment charges; our inability to
manage our growth effectively; losses in excess of our insurance coverage; our inability to attract and retain talent; environmental liabilities, risks related to natural disasters and our inability to achieve our sustainability goals; our inability to comply with rules and
regulations applicable to our company; Digital Realty Trust, Inc.’s failure to maintain its status as a REIT for federal income tax purposes; Digital Realty Trust, L.P.’s failure to qualify as a partnership for federal income tax purposes; restrictions on our ability to engage in
certain business activities; and changes in local, state, federal and international laws and regulations, including related to taxation, real estate and zoning laws.
The risks included here are not exhaustive, and additional factors could adversely affect our business and financial performance. We discussed a number of additional material risks in our annual report on Form 10-K for the year ended December 31, 2022, and other
filings with the Securities and Exchange Commission. Those risks continue to be relevant to our performance and financial condition. Moreover, we operate in a very competitive and rapidly changing environment. New risk factors emerge from time to time and it is
not possible for management to predict all such risk factors, nor can it assess the impact of all such risk factors on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any
forward-looking statements. We expressly disclaim any responsibility to update forward-looking statements, whether as a result of new information, future events or otherwise. Digital Realty, Digital Realty Trust, the Digital Realty logo, Interxion, Turn-Key Flex, Powered
Base Building, PlatformDIGITAL, Data Gravity Index, Data Gravity Index DGx and ServiceFabric™ Connected Data Communities are registered trademarks and service marks of Digital Realty Trust, Inc. in the United States and/or other countries. All other names,
trademarks and service marks are the property of their respective owners.
44
Digital Realty Trust, Inc. and Subsidiaries
Reconciliation of
Reconciliation of Net Income Available to Common Stockholders to Funds From Operations (FFO)
(in thousands, except per share and unit data)
(unaudited)
Non-GAAP Items
Three Months Ended
March 31, 2023 March 31, 2022
To Their Closest GAAP Net income available to common stockholders

Adjustments:
$ 58,547 $ 63,101
Equivalent
Noncontrolling interests in operating partnership 1,500 1,600
Real estate related depreciation and amortization (1) 412,192 374,162
Depreciation related to non-controlling interests (13,388) -
Real estate related depreciation and amortization related to investment in
unconsolidated joint ventures 33,719 29,320
(Gain) on real estate transactions (7,825) (2,770)
FFO available to common stockholders and unitholders $ 484,745 $ 465,412
Basic FFO per share and unit $ 1.63 $ 1.60

Diluted FFO per share and unit $ 1.60 $ 1.60
Weighted average common stock and units outstanding

Basic 297,180 290,163
Diluted 309,026 290,662
(1) Real estate related depreciation and amortization was computed as follows:
Depreciation and amortization per income statement 421,198 382,132
Non-real estate depreciation (9,006) (7,970)
$ 412,192 $ 374,162
Three Months Ended

March 31, 2023 March 31, 2022
FFO available to common stockholders and unitholders -- basic and diluted $ 484,745 $ 465,412
Weighted average common stock and units outstanding 297,180 290,163

Note: The Company does not provide a reconciliation for non-GAAP estimates on a Add: Effect of dilutive securities 202 499
forward-looking basis, where it is unable to provide a meaningful or accurate calculation or Weighted average common stock and units outstanding -- diluted 297,832 290,662
estimation of reconciling items and the information is not available without unreasonable
effort. This is due to the inherent difficulty of forecasting the timing and/or amount of various Three Months Ended
items that would impact net income attributable to common stockholders per diluted share, March 31, 2023 March 31, 2022
which is the most directly comparable forward-looking GAAP financial measure. This
includes, for example, external growth factors, such as dispositions, and balance sheet
Total operating revenues $ 1,338,724 $ 1,127,323
items, such as debt issuances, that have not yet occurred, are out of the Company's control
and/or cannot be reasonably predicted. For the same reasons, the Company is unable to less:
address the probable significance of the unavailable information. Forward-looking non- Proforma disposition adjustment 35 (2,828)
GAAP financial measures provided without the most directly comparable GAAP financial plus:
measures may vary materially from the corresponding GAAP financial measures. Constant currency adjustment 9,413 -
Reconciliations for additional periods can be found in 1Q22 Supplemental, 2Q22

Total operating revenues (as adjusted) $ 1,348,172 $ 1,124,495
Supplemental and 3Q22 Supplemental, which are available on our website.
45
Reconciliation of
Non-GAAP Items
To Their Closest GAAP
Digital Realty Trust, Inc. and Subsidiaries
Reconciliation of Funds From Operations (FFO) to Core Funds From Operations (CFFO)
(in thousands, except per share and unit data)
Equivalent (unaudited)
Three Months Ended

March 31, 2023 March 31, 2022
FFO available to common stockholders and unitholders -- diluted $ 484,745 $ 465,412
Other non-core revenue adjustments (887) 13,916

Transaction and integration expenses 12,267 11,968
Loss from early extinguishment of debt - 51,135
(Gain) / Loss on FX revaluation (6,778) (67,676)
Severance accrual and equity acceleration 4,155 2,077
Other non-core expense adjustments - 7,657
CFFO available to common stockholders and unitholders -- diluted $ 493,500 $ 484,490
CFFO impact of holding '22 Exchange Rates Constant 9,413 -
Constant Currency CFFO available to common stockholders and unitholders -- diluted $ 502,913 $ 484,490
Diluted CFFO per share and unit $ 1.66 $ 1.67
Diluted Constant Currency CFFO per share and unit $ 1.69 $ 1.67
46
Reconciliation of
Non-GAAP Items Digital Realty Trust, Inc. and Subsidiaries
Reconciliation of Net Income Available to Common Stockholders to Earnings Before Interest,

Taxes, Depreciation and Amortization (EBITDA) and Adjusted EBITDA
(in thousands)
Equivalent
(unaudited)
Three Months Ended

March 31, 2023 March 31, 2022
Net income available to common stockholders $ 58,547 $ 63,101
Interest 102,220 66,725

Loss from early extinguishment of debt - 51,135
Income tax expense (benefit) 21,454 13,244
Depreciation and amortization 421,198 382,132
EBITDA 603,419 576,337
Unconsolidated JV real estate related depreciation & amortization 33,719 29,320

Unconsolidated JV interest expense and tax expense 18,556 21,111
Severance accrual and equity acceleration 4,155 2,077
Transaction and integration expenses 12,267 11,968
(Gain) / loss on sale of investments - (2,770)
Other non-core adjustments, net (14,604) (48,858)
Noncontrolling interests 111 3,629
Preferred stock dividends, including undeclared dividends 10,181 10,181
(Gain) on redemption of preferred stock - -
Adjusted EBITDA $ 667,804 $ 602,994
47
Reconciliation of Digital Realty Trust, Inc. and Subsidiaries
Reconciliation of Same Capital Cash Net Operating Income
Non-GAAP Items
(in thousands)
(unaudited)
To Their Closest GAAP Three Months Ended

March 31, 2023 March 31, 2022
Equivalent Rental revenues $ 684,585 $ 639,728

Tenant reimbursements - Utilities 262,406 190,406
Tenant reimbursements - Other 31,471 42,707
Interconnection and other 83,850 81,007
Total Revenue 1,062,312 953,847
Utilities 281,877 205,404

Rental property operating 169,589 155,715
Property taxes 30,257 37,089
Insurance 4,038 3,556
Total Expenses 485,761 401,764
Net Operating Income $ 576,551 $ 552,083

Less:
Stabilized straight-line rent $ 998 $ (3,449)
Above and below market rent 1,704 694
Same Capital Cash Net Operating Income $ 573,848 $ 554,838
Same Capital Cash NOI impact of holding '22 Exchange Rates Constant 10,014 -
Constant Currency Same Capital Cash Net Operating Income $ 583,862 $ 554,838
48
Reconciliation of
Non-GAAP Items
Twelve Months Ended Twelve Months Ended Twelve Months Ended
December 31, 2022 December 31, 2021 December 31, 2021 December 31, 2020 December 31, 2020 December 31, 2019
Equivalent Operating income $589,969 $694,010 $694,010 $557,530 $557,530 $594,216

Fee income (24,506) (13,442) (13,442) (15,215) (15,215) (11,654)
Other income (4,645) (19,401) (19,401) (1,849) (1,849) (1,231)
Depreciation and amortization 1,577,933 1,486,631 1,486,631 1,366,380 1,366,380 1,163,774
General and administrative 398,669 393,311 393,311 344,929 344,929 207,696
Severance, equity acceleration, and legal
23,498 7,343 7,343 6,440 6,440 3,400
expenses
Transaction expenses 68,766 47,426 47,426 106,661 106,661 27,925
Impairment in investments in real estate 3,000 18,291 18,291 6,482 6,482 5,351
Other expenses 12,438 2,550 2,550 1,074 1,074 14,118
Net Operating Income $2,645,122 $2,616,719 $2,616,719 $2,372,432 $2,372,432 $2,003,595
Straight-line rental revenue (70,394) (64,108) (64,108) (48,770) (48,770) (48,595)

Straight-line rental expense 2,857 27,050 27,050 16,223 16,223 1,075
Above- and below-market rent amortization (696) 6,069 6,069 12,686 12,686 17,097
Cash Net Operating Income $2,576,887 $2,585,731 $2,585,731 $2,352,571 $2,352,571 $1,973,173
Same Capital Cash Net Operating Income 1,964,711 2,085,024 1,381,815 1,445,712 1,544,921 1,574,854
Non Same Capital Cash Net Operating Income 612,176 500,707 1,203,916 906,859 807,650 398,319
49
Reconciliation of
Non-GAAP Items
To Their Closest GAAP Twelve Months Ended
December 31, 2019 December 31, 2018
Twelve Months Ended
Twelve Months Ended
Equivalent Operating income $594,216 $549,787 $549,787 $451,295 $451,295 $497,286

Fee income (11,654) (7,841) (7,841) (6,372) (6,372) (6,285)
Other income (1,231) (1,924) (1,924) (1,031) (1,031) (33,197)
Depreciation and amortization 1,163,774 1,186,896 1,186,896 842,464 842,464 699,324
General and administrative 207,696 160,363 160,363 156,711 156,711 146,526
Severance, equity acceleration, and legal
3,400 3,304 3,304 4,730 4,730 6,207
expenses
Transaction expenses 27,925 45,327 45,327 76,048 76,048 20,491
Impairment in investments in real estate 5,351 — — 28,992 28,992 —
Other expenses 14,118 2,818 2,818 3,077 3,077 213
Net Operating Income $2,003,595 $1,938,730 $1,938,730 $1,555,914 $1,555,914 $1,330,565
Straight-line rental revenue (50,273) (40,423) (40,423) (16,564) (16,564) (24,254)

Straight-line rental expense 1,075 9,878 9,878 12,075 12,075 22,341
Above- and below-market rent amortization 17,097 26,533 26,533 1,840 1,840 (8,313)
Cash Net Operating Income $1,971,495 $1,934,718 $1,934,718 $1,553,266 $1,553,266 $1,320,339
Same Capital Cash Net Operating Income 1,540,650 1,604,864 1,076,981 1,073,225 923,556 895,059
Non Same Capital Cash Net Operating Income 430,845 329,854 857,737 480,041 629,710 425,280
50
Reconciliation of
Non-GAAP Items
Equivalent
51
Reconciliation of
Non-GAAP Items
To Their Closest
Net Debt/LQA Adjusted EBITDA - As Adjusted
Net Debt/LQA Adjusted EBITDA
in 000’s QE 6/30/20
QE 6/30/20
Net Debt as of June 30, 2020 $ 12,643,652
Total debt at balance sheet carrying value $ 12,371,621
GAAP Equivalent Add: DLR share of unconsolidated joint venture debt

Add: Capital lease obligations
558,049
219,156
Less: Gross Proceeds from Forward Equity
Net Debt as of June 30, 2020 (As Adjusted)
$
$
(1,104,575)
11,539,077
Less: Unrestricted cash (505,174)
Net Debt as of June 30, 2020 $ 12,643,652 Net Debt / LQA Adjusted EBITDA(iii) (As Adjusted) 5.2x
Net Debt / LQA Adjusted EBITDA(iii) 5.7x (iii) Adjusted EBITDA

Adjusted EBITDA as of June 30, 2020 $ 558,690
(iii) Adjusted EBITDA
No Adjustments to EBITDA
Net income available to common stockholders $ 53,676 Adjusted EBITDA (As Adjusted) $ 558,690
Interest expense 79,874 LQA Adjusted EBITDA (Adjusted EBITDA x 4) $ 2,234,759
Loss from early extinguishment of debt -
Taxes 11,490 QE 6/30/20
Depreciation and amortization 349,165 Fixed Charged Ratio (LQA Adjusted EBITDA/total fixed charges)
EBITDA 494,205 GAAP interest expense 79,874
Capitalized interest 13,133
Unconsolidated JV real estate related depreciation & amortization 17,123 Unconsolidated JV Interest Expense 6,981
Unconsolidated JV interest expense and tax expense 9,203 Scheduled debt principal payments 57
Severance accrual and equity acceleration and legal expenses 3,642 Preferred dividends 21,155
Transaction and integration expenses 15,618 Total fixed charges 121,200
Gain on sale / deconsolidation -
Fixed charge ratio 4.6x
Other non-core adjustments, net (3,404)
Noncontrolling interests 1,147
Preferred stock dividends, including undeclared dividends 21,155 QE 06/30/20
Adjusted EBITDA $ 558,690 Fixed Charged Ratio (LQA Adjusted EBITDA/total fixed charges) - As Adjusted
Total fixed charges 121,200
LQA Adjusted EBITDA (Adjusted EBITDA x 4) $ 2,234,759 Less: Lower Interest from Forward Equity (6,553)
Total fixed charges (As Adjusted for Mapletree and Forward Equity) 114,647
52
Reconciliation of Net Debt/LQA Adjusted EBITDA
in 000’s QE 9/30/20
Non-GAAP Items
Add: DLR share of unconsolidated joint venture debt 568,757
Add: Capital lease obligations 228,486
To Their Closest GAAP Net Debt as of September 30, 2020
Net Debt / LQA Adjusted EBITDA(iii)

$ 12,700,698
5.6x
Equivalent
Net loss available to common stockholders $ (37,368)
Interest expense 89,499
Loss from early extinguishment of debt 53,007
Taxes 16,053
Depreciation and amortization 365,842
EBITDA 487,033
Unconsolidated JV real estate related depreciation & amortization 19,213
Unconsolidated JV interest expense and tax expense 9,002
Severance accrual and equity acceleration and legal expenses 920
Transaction and integration expenses 14,953
Gain on sale / deconsolidation (10,410)
Other non-core adjustments, net 4,945
Impairment of investments in real estate 6,482
Noncontrolling interests (1,316)
Preferred stock dividends, including undeclared dividends 20,712
Issuance costs associated with redeemed preferred stock 16,520
Adjusted EBITDA $ 568,054
LQA Adjusted EBITDA (Adjusted EBITDA x 4) $ 2,272,215
QE 9/30/20
Fixed Charged Ratio (LQA Adjusted EBITDA/total fixed charges)
GAAP interest expense plus capitalized interest 108,467
Scheduled debt principal payments -

Preferred dividends 20,712
Note: For quarter ended September 30, 2020

53
in 000’s
Non-GAAP Items
QE 12/31/20
Add: Capital lease obligations 239,846

Net Debt as of September 30, 2020 $ 14,010,117
(iii)
Net Debt / LQA Adjusted EBITDA 6.1x
Equivalent
Net loss available to common stockholders $ 44,178

Loss from early extinguishment of debt 49,576
Taxes 3,322
EBITDA 534,839

Severance accrual and equity acceleration and legal expenses 606
QE 12/31/20

54
Reconciliation of
Non-GAAP Items in 000’s
To Their Closest
GAAP Equivalent
55
Reconciliation of in 000’s
Non-GAAP Items
To Their Closest
GAAP Equivalent
56
in 000’s QE 9/30/21
Non-GAAP Items
QE 9/30/21
Total debt at balance sheet carrying value $14,087,539
To Their Closest
Add: Capital lease obligations, net 221,390
Less: Gross Proceeds from Forward Equity $ (950,000)
Less: Gross Proceeds from sale of assets to SREIT $ (960,000)
Net Debt as of September 30, 2021 $14,714,905
GAAP Equivalent Net Debt / LQA Adjusted EBITDA(iii) 6.0x

Plus: DLR share of SREIT debt
Net Debt as of September 30, 2021 (As Adjusted)
$ 145,250
$ 12,950,155
Net Debt / LQA Adjusted EBITDA(iii) (As Adjusted) 5.4x

Net loss available to common stockholders $ 124,096 Adjusted EBITDA as of September 30, 2021 $ 610,076
Loss from early extinguishment of debt -
Less: EBITDA from assets sold to SREIT $ (10,250)
Taxes 13,709
Adjusted EBITDA (As Adjusted) $ 599,826
EBITDA 578,257
Unconsolidated JV real estate related depreciation & amortization 21,293 QE 9/30/21

Unconsolidated JV interest expense and tax expense 11,008 Fixed Charged Ratio (LQA Adjusted EBITDA/total fixed charges)
Severance accrual and equity acceleration and legal expenses 1,377
Transaction and integration expenses 13,804 GAAP interest expense plus capitalized interest 94,360
Gain on sale / deconsolidation 635 Preferred dividends 10,181
Other non-core adjustments, net (28,745) Total fixed charges 104,541
Impairment of investments in real estate -
(Gain) on redemption of preferred stock - QE
Adjusted EBITDA $ 610,076 09/30/21
Fixed Charged Ratio (LQA Adjusted EBITDA/total fixed charges) - As Adjusted
LQA Adjusted EBITDA (Adjusted EBITDA x 4) $2,440,302
Less: Lower Interest from debt reduction with Forward Equity proceeds (122)
Less: Lower Interest from debt reduction with SREIT proceeds (2,342)
Plus: DLR share of interest in SREIT debt 399
Total fixed charges (As Adjusted) 102,476
Fixed charge ratio (As Adjusted) 5.9x
57
Reconciliation Net Debt/LQA Adjusted EBITDA
in 000’s QE 12/31/21
QE 12/31/21
of Non-GAAP
Net Debt as of Dceember 31, 2021 $ 14,194,189
Add: Capital lease obligations, net 218,590 Less: Gross Proceeds from Forward Equity $ (956,547)
Items Less: Unrestricted cash (299,410) Plus: €750mm Notes Issued in January 2022 $ 852,750
Net Debt as of December 31, 2021 $ 14,194,189 Less: Redemption of 4.75% Notes in February 2022 $ (450,000)
Less: Remaining Net Proceeds from January 2022 Notes $ (388,589)
To Their Closest Net Debt / LQA Adjusted EBITDA(iii) 6.1x Net Debt as of December 31, 2021 (As Adjusted) $ 13,251,803
GAAP Equivalent (iii) Adjusted EBITDA Net Debt / LQA Adjusted EBITDA(iii) (As Adjusted) 5.7x
Net loss available to common stockholders $ 1,057,629
Adjusted EBITDA as of December 31, 2021 x 4 $ 2,334,854
Taxes 3,961 QE 12/31/21
Depreciation and amortization 378,883 Fixed Charged Ratio (LQA Adjusted EBITDA/total fixed charges)
EBITDA 1,512,560
Unconsolidated JV real estate related depreciation & amortization 24,146 Preferred dividends 10,181
Unconsolidated JV interest expense and tax expense 15,222 Total fixed charges 107,960
Gain on sale / deconsolidation (1,047,010)
QE 12/31/21
Other non-core adjustments, net 14,307 Fixed Charged Ratio (LQA Adjusted EBITDA/total fixed charges) - As Adjusted
Noncontrolling interests 22,587 Total fixed charges 107,960
Preferred stock dividends, including undeclared dividends 10,181 Less: Lower Interest from debt reduction w/ proceeds from Forward Equity & Euro Notes (5,553)
Adjusted EBITDA $ 583,713 Total fixed charges (As Adjusted) 102,407
LQA Adjusted EBITDA (Adjusted EBITDA x 4) $ 2,334,854 Fixed charge ratio (As Adjusted) 5.7x
58
in 000’s QE 3/31/22
QE 3/31/22
Non-GAAP Items
Net Debt as of March 31, 2022 $ 15,184,306
Less: Gross Proceeds from Forward Equity (947,405)
Add: DLR share of unconsolidated joint venture debt 813,519 Net Debt as of March 31, 2022 (As Adjusted) $ 14,236,901
To Their Closest

Adjusted EBITDA as of March 31, 2022 x 4 $ 2,411,974
(iii) Adjusted EBITDA QE 3/31/22

Interest expense 66,725 GAAP interest expense plus capitalized interest 98,993
Taxes 13,244 Preferred dividends 10,181
Depreciation and amortization 382,132 Total fixed charges 109,175
EBITDA 576,337
Severance accrual and equity acceleration and legal expenses 2,077 QE 3/31/22
Transaction and integration expenses 11,968 Fixed Charged Ratio (LQA Adjusted EBITDA/total fixed charges) - As Adjusted
Other non-core adjustments, net (48,858) Total fixed charges as of 3/31/22 109,175
Noncontrolling interests 3,629 Less: Lower interest from debt reduction w/ proceeds from Forward Equity (2,804)
Preferred stock dividends, including undeclared dividends 10,181 Total fixed charges 106,371
Fixed charge ratio (As Adjusted) 5.7x
59
in 000’s QE 6/30/22
QE 6/30/22
Non-GAAP Items
Total debt at balance sheet carrying value $ 14,294,307 Net Debt as of June 30, 2022 $ 15,104,319
Less: Gross Proceeds from Forward Equity (939,787)
Net Debt as of June 30, 2022 (As Adjusted) $ 14,164,532
To Their Closest Less: Unrestricted cash

Net Debt as of June 30, 2022
(286,240)
$ 15,104,319

Adjusted EBITDA as of June 30, 2022 x 4 $ 2,443,976
QE 6/30/22

Taxes 12,406
Depreciation and amortization 376,967 Total fixed charges 102,450
EBITDA 515,642
Severance accrual and equity acceleration and legal expenses 3,786 QE 6/30/22
Fixed Charged Ratio (LQA Adjusted EBITDA/total fixed charges) - As Adjusted
Total fixed charges as of 6/30/22 102,450
Noncontrolling interests 436
Less: Lower interest from debt reduction w/ proceeds from Forward Equity (4,579)
LQA Adjusted EBITDA (Adjusted EBITDA x 4) $ 2,443,976 Fixed charge ratio (As Adjusted) 6.2x
60
QE 9/30/22 Fixed Charged Ratio (LQA Adjusted EBITDA/total fixed charges)
QE 9/30/22
Non-GAAP Items
Add: DLR share of unconsolidated joint venture debt 794,087 GAAP interest expense plus capitalized interest 101,878
Add: Capital lease obligations, net 283,086 Preferred dividends 10,181

Equivalent Net Debt / LQA Adjusted EBITDA

(iii)
6.7x
(iii) Adjusted EBITDA QE 9/30/22

Fixed Charged Ratio (LQA Adjusted EBITDA/total fixed charges - As Adjusted
Total fixed charges as of 9/30/22 112,060
Taxes 19,576 Less: Lower interest from debt reduction w/ proceeds from Forward Equity (3,710)
Depreciation and amortization 388,704 Plus: Interest adjustment for full quarter of Teraco debt 1,919
EBITDA 711,676 Total fixed charges 110,269
Unconsolidated JV real estate related depreciation & amortization 30,831 Fixed charge ratio (As Adjusted) 5.7x
(Gain) / loss on sale of investments (173,990)
Other non-core adjustments, net (94)

Less: Gross proceeds from remaining equity forward (537,616)
Net Debt as of September 30, 2022 (As Adjusted) 15,976,405
Net Debt / LQA Adjusted EBITDA (iii) (As Adjusted) 6.4x

Adjusted EBITDA as of September 30, 2022 x 4 $ 2,479,144
Plus: Full-quarter contribution from Teraco x 4 28,248
Adjusted EBITDA (As Adjusted) $ 2,507,392
Note: For quarter ended September 30, 2022. 61

Net Debt/LQA Adjusted EBITDA
QE 12/31/22
Reconciliation of
Non-GAAP Items
To Their Closest GAAP Net Debt / LQA Adjusted EBITDA(iii) 6.9x
Equivalent (iii) Adjusted EBITDA
Net loss available to common stockholders $ (6,093)

Taxes (17,676)
EBITDA 493,244

(Gain) / loss on sale of investments 6
Impairment of investments in real estate 3,000
Noncontrolling interests (3,326)
QE 12/31/22

Fixed charge ratio 4.9x 62

Total debt at balance sheet carrying value $

QE 03/31/23
17,875,511
Non-GAAP Items Add: DLR share of unconsolidated joint venture debt

Add: Capital lease obligations, net
1,123,360
335,910

Equivalent Net Debt / LQA Adjusted EBITDA

(iii)
7.1x

Taxes 21,454
EBITDA 603,419

Noncontrolling interests 111
QE 03/31/23


63
Thank you

Digital Realty Investor Presentation June 6-6-23

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Digital Realty Investor Presentation June 6-6-23

Uploaded by

Copyright:

Available Formats

Global.

The meeting place for companies,

~5,000 214,000+ 50+ 310+

EQUITY & ENTERPRISE VALUE TOP PUBLICLY TRADED U.S. REIT

$29 Bn $48 Bn 8th 2016 May

INVESTMENT GRADE RATINGS (5)

BBB Baa2 BBB

ENTERPRISES SERVICE PROVIDERS

To bring companies and data together, in bold new ways,

1. Strengthening Customer Value Proposition

2. Operating Results Inflect Upward

3. Diversifying and Bolstering Capital Sources

• Executing meeting place • Building new applications • Partnering with sources of

$489 mm 10% • Providing full spectrum

New York Metro Frankfurt

2015 2016 2017 2018 2020 2022

National Provider of Data A Leading Provider of A Leading Colocation

Rate of Products & Services that are Digitized

Service Aggregation Nodes

94% in Northern Virginia, consistent with

516k DLR’s active development pipeline

Note: As of March 31, 2023. 15

Connect@Scale suites, Connect@Scale suites, Connect@Scale suites, Connect@Scale suites,

FRANKLIN PARK PISCATAWAY RICHARDSON WILHELM-FAY-STRAßE

Amsterdam Atlanta Chicago

Johannesburg London Marseille

New York Seattle

Note: As of March 31, 2023.

Partners Customers Developers

Connect seamlessly to open

3 Establish Virtual Router

Multi-Cloud Redundant Inter-metro/ Connectivity Disaster Service-chain

Total Enterprise Value (2) $35 billion $48 billion  37%

RMZ Rank 5th 8th (3)  -3 places

Top 20 Tenant Concentration (% of ABR) 53.5% 49.3%  (420 bps)

Metro Areas (1) 35 metro areas 52 metro areas  49%

% Unhedged Variable Rate Debt 26% 19%  (700 bps)

Secured Debt / Total Assets 3% 2%  (100 bps)

FULL MENU OF WELL-KNOWN, SEASONED ISSUER

Common Equity Issuance 2.500% Notes due 2026 €1,075 2019

$0.8 3.75% Notes due 2030 £550 2018

Debt Preferred Equity

Capital Raising Since 1Q23 Earnings Debt Maturity Schedule(2)

1) As of March 31, 2023.

CAGR Dividend Payout

INVESTMENT GRADE BALANCE SHEET

BUILD AND EXPAND

DIVERSIFIED SOURCES OF CAPITAL

2. Social Content Platform 21 4.0% 12. 15 1.7%

3. Global Cloud Provider 57 3.8% 13. Social Media Platform 8 1.6%

• Top customers have a 4. 40 3.6% 14. 25 1.4%

presence in 45 different 5. 35 3.4% 15. 129 1.4%

7. 17 2.3% 17. 100 1.1%

8. 8 2.2% 18. 39 1.1%

9. Fortune 500 19.

10. 45 1.9% 20. 118 1.0%

TOTAL ANNUALIZED RECURRING REVENUE 49.4%

of new signed leases contained

Commencements $69M $112M

Digital Realty Backlog Unconsolidated Joint Venture Backlog

Provide Strong >1 MW 0-1 MW Other

Opportunities 25% >3.0%

• Evenly staggered, 5% 4.0% 4.6% 4.9%

Note: As of March 31, 2023.