Equinix

Peter Van Camp, Executive Chairman

February 25, 2019

CECP Investor Forum, New York

© 2019 Equinix.com

Public disclosure statement

Forward-Looking StatementsExcept for historical information, this presentation contains forward-looking statements, which include words such as “believe,”“anticipate,” and “expect.” These forward-looking statements involve risks and uncertainties that may cause Equinix’s actual results to differ materially from those expressed or implied by these statements. Factors that may affect Equinix’s results are summarized in our annual report on Form 10-K filed on February 26, 2018 and our quarterly report on Form 10-Q filed on November 2, 2018.

Non-GAAP InformationThis presentation contains references to certain non-GAAP financial measures. For definitions of terms including, but not limited to, “Cash Gross Profit,” “Cash Gross Margins,” “Cash SG&A,” “Adjusted EBITDA,” “Funds From Operations,” “Adjusted Funds From Operations,” and “Adjusted Net Operating Income,” and a detailed reconciliation between the non-GAAP financial results presented in this presentation and the corresponding GAAP measures, please refer to the supplemental data and the appendix of this presentation.

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© 2019 Equinix.com

Agenda

GROWTHInvestment Thesis

CULTUREThe Magic

SUSTAINABILITYESG Impact

© 2019 Equinix.com

Equinix origins

The fortress

Designed to symbolize astronghold where assets areguarded and interconnected.

The continuous line representsthe interconnection we offer

Our name

Equality Neutrality Internet Exchange

Our founders

Al Avery andJay Adelson

Our tagline

WHERE OPPORTUNITY CONNECTSTM

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© 2019 Equinix.com

Marketplace of customers

Networks

24%

1,800+

Content & Digital Media

13%

700+

Cloud & IT Services

28%

2,900+

Financial Services

16%

1,250+

Enterprises

19%

3,000+

Revenues(1)

Customers(1)

(1) Customers and revenues Q4 2018.

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Global platform(1)

18 Metros87 IBXs

12 Metros40 IBXs

22 Metros73 IBXs

5 24 52 200Continents Countries Metro areas Data centers

(1) As of Q4 2018.

9,800+customers

72%deployed in

multiple regions

333K+interconnections

100%renewable

energypledge

~8Kemployees

99.9999availability

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Growth story

13 63 77

2018

878

2008

705

2007

419

2006

287

2005

221

2004

164

2003

118

20022001200019991998 2013

2,153

2012

1,887

2011

1,566

2010

1,189

2009

5,072

2017

4,368

2016

3,612

2015

2,726

2014

2,444

AMEREMEAAPAC

($M - as-reported)

(1) FY19 Guidance as announced on Form 8-K filed February 13, 2019. This does not constitute an update or reiteration of such guidance.

(1)

IL2

IOICT

2019E

5,520-5,570

Total capital invested >$22B

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© 2019 Equinix.com

2011 2012 2013 2014 2015 2016 2017 2018 2019E 2022E

1,5661,887

2,1532,444

2,726

3,612

4,368

5,0725,520-5,570

Long-term outlook(1)(2)

Revenues(1)(2)

>$7B

(1)

(1) FY19 Guidance as announced on February 13, 2018. This does not constitute an update or reiteration of such guidance. (2) Long-term guidance as announced on June 20, 2018 at Equinix analyst day. This does not constitute an update or reiteration of such guidance.

($M - as-reported)

8%AFFO per share

growthDividend yield Shareholder value

creation

2%

3%

10%

12%

15%

16%Ranges through 2022(2)

8%Revenues

growth

10%

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© 2019 Equinix.com

Operating model(1)

(1) FY18 as-reported actuals.

($M - as-reported)

72% Colocation: 3,670

16% Interconnection: 802

6% Other: 304

6% NRR: 295

Rev

enue

s: 5

,072

Utilities: 581

Peoples Costs: 323

Rent and Facility: 202

R&M: 148

Other COR: 443

Peoples Costs: 703

Other SG&A: 259

Dividend: 727Payout Ratio: 44%

Re-investment: 932

Interest: 493

Recurring Capex: 203

Taxes and Other: 58

34%

19%

12%

9%

26%

73%

27%

AFFO: 1,659AFFO as a % of Revenue: 33%

Cash COR: 1,696Cash Gross Margin: 67%

Cash SG&A: 962Cash SG&A as a % of Revenue: 19%

Adjusted EBITDA: 2,413Adjusted ABITDA Margin: 48%

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© 2019 Equinix.com

Capital prioritization(1)

Targeting ~$2B of capex per year to expand and maintain Equinix’s platform

Expansion by metro tier Investment in products and IT

Supports new bookings

Maintains assets

IT/Networkand other

ExpansionRecurring Installation

9% 76% 10% 6%

• New product development

• Enhancements to existing products

• Customer initiatives• Efficiency projects

• Capex to support installation of new customers

• Build-out of new IBXs and phases

• Core and shell• Building improvements• Power and cooling

equipment

• Major metros – 79%• Developing metros – 16%• Small metros – 5%

• IBX maintenance – 71%

• Sustaining IT & Network – 16%

• Re-configuration installation –13%

(1) Long-term guidance as announced on June 20, 2018 at Equinix analyst day. This does not constitute an update or reiteration of such guidance.

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© 2019 Equinix.com

Financial strategy

Products and services

Expansion capex

High yield Term loansEquity

Dividend yield

AFFO per share growth

Future financial flexibility Long-term non-amortizing capital FX exposure, low cost of capital

Enhancing interconnection

New markets

Organic investments Long-term return targets M&A opportunities

Optimal capital structure(Target 3.0-4.0x net leverage and investment grade)

Asset ownershipHyperscale Return on invested capital

Revolver

Short-term liquidity

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© 2019 Equinix.com

Agenda

GROWTHInvestment Thesis

CULTUREThe Magic

SUSTAINABILITYESG Impact

© 2019 Equinix.com

Our people

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© 2019 Equinix.com

Inclusive culture

• I feel that others care about me• I trust those in positions of power• I am free to speak my mind• I am not paralyzed by a fear of mistakes

• I am part of something bigger than myself• I am valued for my unique contributions• I can bring my whole-self to work• I am proud of my affiliation with the company

• I make a difference• I understand my role• I’m doing something important• Others rely on me….so my

commitments matter

I’m safe

I belongI matter

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© 2019 Equinix.com

Employee engagement

73 73 73

8588

85

2015 2016 2017

Employee satisfaction(1)

Industry Average Equinix

19 19 19

13

15

12

2015 2016 2017

Turnover rate(2)

Industry Average Equinix Equinix with acquisitions(3)

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(1) Equinix’s Engagement index is determined from an aggregate score of 5 indices in the bi-annual Equinix Pulse Survey: Communication, Alignment, Engagement, Belonging and Other. The Pulse Survey is issued twice a year in February and August; the score here is the average of the two surveys.

(2) Employee turnover numbers depict how many employees left the organization voluntarily (includes retirement and death) as well as involuntarily (due to dismissal, misconduct, job performance etc.).(3) Attrition attributed to the integration of Telecity Group and Bit-isle.

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© 2019 Equinix.com

Organizational health

74

Health score

Bottom QuartileThird QuartileSecond QuartileTop QuartileTop Decile

Outcome scores(1)

(1) Source McKinsey. Percentage of respondents who selected 'agree' or 'strongly agree.'

77Direction72

Accountability68

Coordination& control76

Externalorientation

78Leadership

70Innovation &

learning69Motivation

83Capabilities 76

Workenvironment

Indicator of long-term capacity to perform

© 2019 Equinix.com

Agenda

GROWTHInvestment Thesis

CULTUREThe Magic

SUSTAINABILITYESG Impact

© 2019 Equinix.com

Prio

ritiz

atio

n by

Sta

keho

lder

s

Prioritization by Equinix

Materiality assessmentRenewable Energy

Labor Practice of Suppliers

Community Engagement

Water Use

Life Cycle Impacts of

Our ServicesSupply Chain

Footprint

Anti-Corruption

Public Policy

Board Governance

Compliance

Data Security

Renewable Energy

Carbon Footprint

Energy Usage

Diversity & Inclusion

Retention & Recruitment

Employee Safety & Well-Being

EnvironmentSocialGovernance

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© 2019 Equinix.com

Environment

• Our customers care about energy usage and the carbon footprint of their data center

• We use the equivalent of 500K US households’ energy per year

• Energy usage is a operating priority – targeting 1.2 PUE on new builds

• In 2018 >90% of our energy use was renewable

• We have 225 MW of wind power under long term investment

• We won the 2018 and 2017 U.S. EPA Green Power Leadership Awards for Excellence in Green Power

• Our customers can claim 100% renewable at over 150 IBX data centers in 2018 including all of our U.S. sites

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© 2019 Equinix.com

Social

• Cultivating a healthy, engaged and inclusive workforce is good for business

• ~8,000 employees and ~2,000 contingent workers

• Equinix Impact program brings our culture to the community

• Equinix Women’s Leadership Network cultivates a sense of belonging for female leaders

• Great Place to Work: Equinix Brazil (2018)

• HR Asia Best Companies to Work for in Asia: Equinix Hong Kong (2018)

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Governance

• Code of Conduct:Building an organization that is defined by its honesty, integrity and consistently ethical behavior

• Board composition: Diversity and alignment with evolving strategy

• Role of the Board- Transparency- Cadence- CEO- Long-term strategy- Executive comp- Corporate oversight

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© 2019 Equinix.com

Stakeholder management

• Strategy (Customer)

• Adapting our strategy to shifting market conditions

• Finance (Investor)

• Directing resources to create long term shareholder value

• Culture (Employees)

• Nurturing the distinctive “Magic of Equinix”

• Impact (Society)

• Becoming a more responsible corporate citizen

CEO Review

Goals & Performance Measures

• Executive Chairman gathers feedback from: Board members & Executive staff

Vision Execution Results• Initiatives

– Market Leadership– Capture the Enterprise– Future Ecosystems– Simplification for Growth– Capital Allocation– Organizational Health– Corporate Social Responsibility

• Team– Exec team retention and succession– Global org matrix & operating mechanisms

• Revenue and AFFO (50%)

– Budget targets (AIP)

– Stretch targets (PRSU)

• 3 Year TSR (25%)

– Stock price relative to Russell 1000

• Time Based (25%)

– Tenure

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© 2019 Equinix.com

Stakeholder management

• Strategy (Customer)

• Adapting our strategy to shifting market conditions

• Finance (Investor)

• Directing resources to create long term shareholder value

• Culture (Employees)

• Nurturing the distinctive “Magic of Equinix”

• Impact (Society)

• Becoming a more responsible corporate citizen

CEO Review

Goals & Performance Measures

• Executive Chairman gathers feedback from: Board members & Executive staff

Vision Execution Results• Initiatives

– Market Leadership– Capture the Enterprise– Future Ecosystems– Simplification for Growth– Capital Allocation– Organizational Health– Corporate Social Responsibility

• Team– Exec team retention and succession– Global org matrix & operating mechanisms

• Revenue and AFFO (50%)

– Budget targets (AIP)

– Stretch targets (PRSU)

• 3 Year TSR (25%)

– Stock price relative to Russell 1000

• Time Based (25%)

– Tenure

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© 2019 Equinix.com

Sustainable Development Goals

© 2019 Equinix.com

Sustainable Development Goals

© 2019 Equinix.com

Sustainable Development Goals