2 May 2017

FIBRA Prologis

Credit Suisse2017 Mexico

Investment Ideas Conference

Mexico City

Los Altos 1, Prologis Park Los Altos, Guadalajara

2

Forward-Looking Statements / Non Solicitation

This presentation includes certain terms and non-IFRS financial measures that are not specifically defined herein. These

terms and financial measures are defined and, in the case of the non-IFRS financial measures, reconciled to the most

directly comparable IFRS measure, in our first quarter Earnings Release and Supplemental Information that is available

on our website at www.fibraprologis.com and on the BMV’s website at www.bmv.com.mx.

The statements in this release that are not historical facts are forward-looking statements. These forward-looking statements are

based on current expectations, estimates and projections about the industry and markets in which FIBRA Prologis operates,

management’s beliefs and assumptions made by management. Such statements involve uncertainties that could significantly

impact FIBRA Prologis financial results. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,”

variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are

not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate

will occur in the future — including statements relating to rent and occupancy growth, acquisition activity, development activity,

disposition activity, general conditions in the geographic areas where we operate, our debt and financial position, are forward-

looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and

assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are

based on reasonable assumptions, we can give no assurance that our expectations will be attained and therefore, actual

outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of

the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local

economic climates, (ii) changes in financial markets, interest rates and foreign currency exchange rates, (iii) increased or

unanticipated competition for our properties, (iv) risks associated with acquisitions, dispositions and development of properties,

(v) maintenance of real estate investment trust (“FIBRA”) status and tax structuring, (vi) availability of financing and capital, the

levels of debt that we maintain and our credit ratings, (vii) risks related to our investments (viii) environmental uncertainties,

including risks of natural disasters, and (ix) those additional factors discussed in reports filed with the “Comisión Nacional

Bancaria y de Valores” and the Mexican Stock Exchange by FIBRA Prologis under the heading “Risk Factors.” FIBRA Prologis

undertakes no duty to update any forward-looking statements appearing in this release.

Non-Solicitation - Any securities discussed herein or in the accompanying presentations, if any, have not been registered under

the Securities Act of 1933 or the securities laws of any state and may not be offered or sold in the United States absent

registration or an applicable exemption from the registration requirements under the Securities Act and any applicable state

securities laws. Any such announcement does not constitute an offer to sell or the solicitation of an offer to buy the securities

discussed herein or in the presentations, if and as applicable.

Contents

04 Section 01Why FIBRA Prologis

06 Section 02Long-Term Trends

12 Section 03FIBRA Prologis Overview

17 Section 04Strong and Consistent Results

23 Section 05Future Potential Growth

27 Section 06Capital Structure Positioned for Growth

29 Section 07Key Takeaways

31 Section 08Appendix

Arrayandes 1, Guadalajara

Section 01

Why FIBRA

Prologis

Prologis Park El Salto, El Salto 3, Guadalajara

5

Well Positioned for All Market Conditions

Prologis Park Apodaca Building 3, Monterrey

Participates in the Highest Growth

Sector of the Mexican Economy

Diversified High-Quality Customer

Base

High-Quality Portfolio

Reliable and Sustainable Cash Flow

Identified Long-Term Growth Strategy

Strong Financial Position

Cycle Tested Team

Strong Corporate Governance

Section 02

Long-TermTrends

Alamar 3, Tijuana

7

Well Positioned for All Market ConditionsGeopolitical Update

Alamar 2, Prologis Park Alamar, Tijuana

U.S. and Mexico have integrated supply

chains

• 40% of Mexico’s imports into the U.S.

originate in the U.S., are exported to

Mexico added and then are re-

imported to the U.S. for ultimate

consumption

• Resurgence of U.S. manufacturing

could create incremental demand in

Mexico

Weakened peso could offset a border tax

8

Structural Drivers Underpin of Logistics Real Estate

Source: Oxford Economics, Prologis Research

• Favorable demographics underpin

logistics real estate demand in

Mexico

• Structural demand drivers, which

evolve gradually over time, can

allow logistics real estate demand

to remain positive and decoupled

from cyclical macro crosscurrents.

Examples of such include Brazil in

recent years.

• Structural trends in Mexico

include:

o Young population base

o Rising consumer class

o Urbanization

o Establishment of business

services clusters in Greater

Mexico City

Young &Growing Working Age PopulationMillions of People

Robust Retail Sales Volume GrowthIndex, 2008 = 100, 2008 Pesos

50

55

60

65

70

75

80

85

90

95

100

1995

1997

1999

2001

2003

2005

2007

2009

2011

2013

2015

2017F

2019F

2021F

50

60

70

80

90

100

110

120

130

140

150

1995

1997

1999

2001

2003

2005

2007

2009

2011

2013

2015

2017F

2019F

2021F

Rising Consumer ClassPersonal Disposable Income, Index, 2008 = 100, 2008 Pesos

50

60

70

80

90

100

110

120

130

140

150

1995

1997

1999

2001

2003

2005

2007

2009

2011

2013

2015

2017F

2019F

2021F

Shifting Job Base to Affluent Sectors, Mexico%, Ag. Jobs as a % of Total %, Services Jobs as a % of Total

50

52

54

56

58

60

62

64

10

12

14

16

18

20

22

24

1995

1997

1999

2001

2003

2005

2007

2009

2011

2013

2015

2017F

2019F

2021F

Agriculture ( L ) Services ( R )

9

• Substantial room for modern

stock per consumer

household metric to rise, and

could at least double in size,

in order to be consistent with

global market peers.

• Undersupply of modern stock

in Greater Mexico City driven

by:

o Scarcity of well-located

sites / access to roadways

south of the CTT tollbooth

o Economic / supply chain

modernization began less

than 25 years ago

o Lengthy land entitlement

processes

Undersupply of Modern Stock in Greater Mexico City

0

10

20

30

40

50

60

Developed Markets

(U.S. & Western Europe)

Greater Mexico City

Modern Logistics Stock vs. Consumer HouseholdsSF / Household

Source: Oxford Economics, Prologis Research

Note: Greater Mexico City includes Mexico City, Toluca, Puebla and Cuernavaca; Consumer household defined as those earning more than $20,000 USD per annum (PPP-adjusted)

10

E-commerce demand for

Mexican logistics real estate

poised to grow in the coming

years, as:

• Barriers for e-trailers are

diminishing

• Domestic customers (e.g.,

Liverpool) are reaching scale

and their e-commerce

businesses may merit

dedicated and internally

operated e-fulfilment

facilities

• Notable market entries and

business expansions of

global e-tailers and e-

commerce logistic services

providers have the potential

for significant growth

• We expect e-commerce will

account for about 25% of

future demand in México

City

Demand for E-fulfilment Facilities in Mexico is Rising

Mexico E-commerce Sector in Early Innings(%, Mexico E-Commerce Sales as a % of Total Retail Sales)

Sources: eMarketer, Prologis Research

Note: excludes travel and event tickets

Sources: CBRE, NAI, Prologis Research

Sources: eMarketer, Prologis Research

Note: excludes travel and event tickets

E-commerce a Rapidly Growing Sector in Mexico(Mexico E-Commerce Retail Sales, USD, billions)

E-fulfilment operations require multiple major distribution

centers, requiring multiple millions of square feet across

several (or many) distribution centers

SCALING PLATFORM

$250-$500M USD SALES

INCUBATION PHASE <$250M

USD SALES

TAKE-OFF

>$500M USD SALES

Retailers tend to

consolidate their fulfilment

operations into a single

500K SF to 1M SF facility

Operations either occur in the

existing supply chain (for brick-

and-mortar retailers) or leverage

3PLs and/or exist within a

handful of small locations

.

Mexico

2017Mexico

2012

-

2

4

6

8

10

12

14

2014

2015

2016

F

2017

F

2018

F

2019

F

0

2

4

6

8

10

Mexico Brazil U.S.

The Largest E-Commerce Businesses in Mexico are Now Reaching Scale

Mexico

~2020 F

11

0 1 2 3 4 5 6 7 8 9 10 11

Mexico City

Monterrey

Juarez

Tijuana

Reynosa

Guadalajara

BTS Development Speculative Development Net Absoprtion (TTM)(2)(1)

• We expect a positive supply/

demand imbalance in 2017

• Supply near the U.S. border

remains constrained, as some

developers are holding off on

speculative development until

there is more certainty

• Demand in the first quarter

totaled 4.0 MSF, driving the

national vacancy rate down by

50 bps to a new record of 4.0%

• México City’s market vacancy

for Class-A product reached an

all-time low of 1.1% and is

among the lowest vacancy in

the world

-

2

4

6

8

10

12

0

4

8

12

16

20

24

2011 2012 2013 2014 2015 2016 2017 (F)

Completions Net Absorption Market Vacancy Rate

Operating Conditions Remained Strong in the

Beginning of the Year

Sources: CBRE, NAI, Prologis Research

Demand vs Supply(MSF)

Market Fundamentals(MSF) (%)

Sources: CBRE, Prologis Research

Data as of March 31, 2017

1. BTS is defined as build to suit

2. TTM is defined as trailing twelve months

Section 03

FIBRA PrologisOverview

Prologis Apodaca 11, Monterrey

13

High-Quality Portfolio that Participates in Consumption

and Manufacturing Sectors

Tijuana Ciudad Juarez

ReynosaMonterrey

Guadalajara

Mexico City

FIBRAPL

GLA

FIBRAPL

Occupancy

Market

Occupancy

5.8MSF 100.0% 96.2%

FIBRAPL

GLA

FIBRAPL

Occupancy

Market

Occupancy

3.9MSF 94.1% 93.7%

FIBRAPL

GLA

FIBRAPL

Occupancy

Market

Occupancy

4.4MSF 95.3% 97.1%

FIBRAPL

GLA

FIBRAPL

Occupancy

Market

Occupancy

3.6MSF 94.5% 94.3%

FIBRAPL

GLA

FIBRAPL

Occupancy

Market

Occupancy

4.2MSF 100.0% 97.0%

Properties Located Only in the Six Deepest and Most Dynamic Markets

97.4%occupancy

34.2 MSF

operating portfolio

• Portfolio outperformed the overall market

occupancy by 140 bps(1)

• 93% class –A/A+ buildings

• Flexible buildings that serve logistics and

manufacturing clients

• Portfolio average age of 13 years

• 81% of buildings located in enclosed parks

• ~70% developed by sponsor Prologis

• 99.9% income producing assets

• Portfolio valued at 7.2% cap rate(2)

FIBRAPL Portfolio Fair Market Value

US$M %

Income Producing Assets

Operating Portfolio 2,142 99.2

Intermodal Facility 15 0.7

Non-Income Producing Assets

Excess Land 2 0.1

Total Portfolio Value 2,159

Data as of March 31, 2017

1. Overall market vacancy as of December 31, 2016 was 4.0% according to estimates from CBRE, NAI and Prologis Research

2. Based on valuation performed by CBRE as of March 31, 2017

FIBRAPL GLA

FIBRAPL Occupancy

MarketOccupancy

12.2MSF 96.4% 95.6%

Regional Markets (manufacturing-driven)Ciudad Juarez, Reynosa, Tijuana

Global Markets (consumption-driven)

Guadalajara, Mexico City, MonterreyFIBRAPLGLA

FIBRAPL Occupancy

MarketOccupancy

22.0MSF 97.9% 96.3%

FIBRAPL

GLA

FIBRAPL

Occupancy

Market

Occupancy

12.3MSF 98.1% 98.9%

14

Use of Space by Customer Industry% of Portfolio NER

Customer Type% of Portfolio NER

41%

24%

15%

15%

5%

Manufacturer Logistics services

Wholesaler Retailer

Other (2)

19%

15%

11%11%

9%9%

8%

4% 4%

10%

Multicustomer

3PL

Electronics Auto &

Parts

Packaging

Paper

Healthcare Industrial Retailer Apparel Home

Goods

Other (1)

Distribution, Retail and B2B - 56% Manufacturing - 32% E-Commerce & Transport - 12%

Diversified Customer BaseOur Customers Reflect a Diverse Cross-Section of Industries

Data as of March 31, 2017

1. Other includes: transportation, food/beverages, consumer products, construction, data center/office

2. Other includes: transport and freight services

15

Business with High-Profile Customers

TR 7

TR 8

Prologis Tres Rios Industrial Park:

• Location: Mexico City (northern CTT

Corridor(1))

• Net Rentable Area: 2.7MSF

• Market Rents: US$5.50 - US$5.60/SF/Yr.

• Occupancy: 100%

• Average Building Age: 6 years

• Average Remaining Lease Term: 2.6 years

Unique Park Features:

• Infill location in a sub-market with land scarcity

• Enclosed park provides unique security feature to

our customers

• Recently developed logistic park that complies

with global industry standards

• Location and product quality provide our

customers opportunity to improve operating

efficiencies

1. CTT corridor is defined as Cuautitlán, Tepotzotlán and Tultitlán-Izcalli corridor located in the northern part of Greater Mexico

City area by the NAFTA highway; Data as of March 31, 2017

16

Peso Revenues Exposure

Data as of March 31, 2017

1. Prime asset is defined as a Class-A building with best-in-class design in the best submarket. An example of prime asset is Prologis Park Tres Rios

2. Core asset is defined as a Class-A building, regardless of age, that is deemed to be functional within its submarket, competes well for tenant

demand, and is attractive to institutional investment capital at the most competitive prices. An example of a core asset is Prologis Park Cedros

% of FIBRAPL USD Revenue by

Market

% Customers with USD Leases

with USD Revenues

FIBRAPL and Customers Currency

ExposureLooking forward:

• Some customers have

expressed interest in shifting

to peso leases, primarily in

Mexico City

• All new peso leases have

been signed with rent

increases of at least the peso

devaluation, protecting

revenues in dollar terms

• As peso stabilizes, we expect

this trend to reverse due to

rise in peso lease rates, peso

inflation and higher cost of

capital

Avg. Peso Lease Rents Signed in Mexico CityGrowth= ~69% in Prime Assets

75% 76%

25% 24%

FIBRAPL Operating

Portfolio- Lease

Currency

Revenue from

Customers with USD

Leases

USD

MXN23%

89%

73%

100%94%

99%

53%

75%

89%100% 97% 99%

65

110

56

92

40

60

80

100

120

2013 2014 2015 2016

Prime Asset Core Asset

MXN/SF/Yr.

0%

20%

40%

60%

80%

Peso

Devaluation

Mexico

Inflation

Real Market

Rent Growth

Total

Growth

Composition of Peso Lease Growth since 2013Growth= ~69% in Prime Assets

(1) (2)

Section 04

Strong and Consistent

Results

Izcalli 3, Mexico City

18

4.0

1.1 1.1

1.9

(1.3)

Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017

Trailing 4Q

96.4 96.496.7 96.8

97.4

Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017

9.7

11.8

8.0 8.3 9.2

Q1 2016 Q2 2016 Q3 2016 Q4 2016 Q1 2017

Trailing 4Q

2017 Started with Strong Momentum

• Strong leasing volume in

the first quarter was 2.1,

exceeding expectations

• Period-end occupancy

reached a new record at

97.4%, led by global

markets

• Pushing rent and terms

continues to drive our

growth and this was

evident in our results

• Cash SSNOI in the quarter

was negatively impacted by

peso devaluation and a

one-off bad debt expense

from a tenant bankruptcy,

excluding these items Cash

SSNOI grew 2%

Data as of March 31, 2017

Positive Rent Change on Rollover Expected to

Continue in 2017

(%)

Cash Same Store NOI Growth Subdued by Peso

Devaluation

(%)

New Record Period-End Occupancy(%)

19

IPO 2014 2015 2016(1)

Consistent External Growth Since IPO

Data as of March 31, 2017

1. Initial public offering (IPO) was on June 4, 2014.

2. Internal growth is driven by fundamentals such as rent increases, occupancy and expense management including Cap-Ex. External growth is driven by capital deployment

activities such as acquisitions, development and dispositions

US$1.70B Internal(2)

External(2)

Internal(2)

External(2)

External(2)

US$1.87B

US$2.05B

US$2.19B

7.6%

6.8%

8.3%

7.7%

7.9%

7.2%

IPO

Q3

20

14

Q4

20

14

Q1 2

015

Q2

20

15

Q3

20

15

Q4

20

15

Q1 2

016

Q2

20

16

Q3

20

16

Q4

20

16

Q1 2

017

Global Markets Regional Markets Total Portfolio

Portfolio Valuation Cap Rates

Internal(2)

• Not guiding acquisitions in

2017 for to favor balance sheet

flexibility and liquidity over

capital deployment

• Recent transactions suggest

that property values will remain

stable in the near term

Investment Properties10% CAGR Since IPO

Section 05

Future Growth

Potential

Tres Rios 8, Mexico City

21

6.3%7.9%

9.3% 8.6%6.2% 5.4%

6.6% 5.8%3.7% 3.7%

5.2%

Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

2014 2015 2016 2017

In Place Rents Spread to Market

In Place to Market Rents(1)

Embedded Earnings Potential from Harvesting the Gap between In-place Rents and Market Rents

• 35% of 2017 expirations

have already been resolved

in Q1 2017

• ~85% of remainder 2017

expirations are under

renewal negotiations

• Overall in place rents remain

~5.2% below, setting the

stage for growth as leases

roll to market in 2017 and

2018

• ~75% of leases contain

contractual annual rent

increases of ~2.5%

Data as of March 31, 2017

Lease Expiry Profile by Annualized Net Effective Rent (NER)

Avg. Market Rents

11%

2017 2018 2019 2020 2021 2022+

17%

22%20%

11% 11%

Resolved

in Q1 2017

$4.75 $4.54 $5.16 $4.92 $5.51 $5.19

2017 2018 2019 2020 2021 2022+

Avg. Market Rent

~9%

Below

Market

Average In Place NER Rate of Lease Expiry Profile(Overall Portfolio Avg. in Place Rent of US$4.97)

US$/SF/Yr

22

2.9 1.4 1.5 0.6

Mexico City Monterrey Reynosa Juarez

External Growth: Identified Future Growth Acquisitions(1)

Data as of March 31, 2017

1. FIBRAPL goal for 2017 is to favor liquidity over acquisitions. As such, we are not guiding toward acquisitions in 2017.

External Growth via Prologis Development Pipeline(MSF)

34.2 3.1 6.4

FIBRAPL Portfolio as of December 31, 2016Prologis

Land Bank

43.7

Prologis Land Bank

based on buildable SF(MSF)

Prologis

Development

Pipeline

Unique Competitive Advantage by

having:

• Proprietary access to Prologis

development pipeline at market

values

• Exclusive right to third-party

acquisitions sourced by Prologis

• 28% growth potential in the next 3

to 4 years

• Prologis development pipeline is

72% leased or pre-leased:

GLA

(MSF)

%

Leased

Mexico City 1.4 76%

Guadalajara 0.5 52%

Monterrey 0.9 70%

Reynosa 0.3 100%

Total 3.1 72%

23

Potential Future Investments(1)

Proposed Master PlanCurrent Land Site

Prologis Park Grande

• Location: Mexico City

• Land Size: 21.3 acres, 9.3 MSF

• Potential Build Out: 3.4 MSF

• Buildings 3 and 4, (0.6 MSF) built and

leased

Unique Competitive Advantage:

• State of the art logistics park focused on e-

commerce customers and consolidation of

3PL customers

• Possibility of acquiring high quality assets

in the land constrained premier Class-A

building corridor of Mexico City

Under Construction

Under Construction

B-1

B-2

B-3

B-4

B-5

B-6

B-7

B-8

Data as of March 31, 2017

1. FIBRAPL goal for 2017 is to favor liquidity over acquisitions. As such, we are not guiding toward acquisitions in 2017.

Section 06

Capital Structure

Positioned For Growth

Otay 3, Tijuana

25

• Capital Structure:

o Loan-to-value: 33.2%

o Liquidity: US$368M(2)

o Fixed coverage: 3.73x

o Debt to adj. EBITDA: 5.27x

• On April 7 2017, we repaid

US$64M secured debt facility

using our line of credit. After

completing this transaction, our

overall cost of debt decreased

40bps to 4.5%.

• Potential earnings upside in

refinancing the remainder 2017

debt with a more efficient product

Data as of March 31, 2017, otherwise noted after impact after repayment

1. On April 7, 2017, we repaid US$64M secured debt facility with Blackstone. Schedule is adjusted to reflect the impact on new cost of debt, LTV and Liquidity after the repayment.

2. Liquidity after the repayment of US$64M is comprised of US$15M of cash, US$253M from the undrawn unsecured credit facility and US$100M accordion feature of the unsecured

line of credit

2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

Secured Debt Unsecured Debt Unsecured LOC

$107

$214

$255

$74

$83

Debt Maturity Schedule(Debt = US$733M)(US$ in millions)

Capital Structure Positioned for Growth

WAT 3.3 years

WAR(1) 4.5%

Cash Interest

Rate(1):6.9% 5.0% 3.6% 3.5% --- --- --- --- --- --- 4.7%

Fixed vs. Floating Debt

12%

88%

Fixed

Floating

54%

46%

Unsecured Secured

Secured vs. Unsecured Debt

42%

58%

Unencumbered

Encumbered

Encumbered vs. Unencumbered

Assets

US$64M Repaid

after Q-end with

LOCIncrease of US$64Mdue to a

borrowing done after Q-end

Section 07

Key Takeaways

27

Ladero 1, Intermodal Facility, Mexico City

Participates in the Highest Growth

Sector of the Mexican Economy

Diversified High-Quality Customer

Base

High-Quality Portfolio

Reliable and Sustainable Cash Flow

Identified Long-Term Growth Strategy

Strong Financial Position

Cycle-Tested Team

Strong Corporate Governance

FIBRAPL Resilient Strategy Provides Best Value to Investors

Section 08

Appendix

Del Norte 3, Juarez

29

Fee Structure: Transparent and Aligned

3% x collected revenues Monthly

New leases: 5% x lease value for >5 years

Renewal: 2.5% x lease value for >5 years

Only when no broker is involved

½ at closing

½ at occupancy

4% x property and tenant improvements

and construction costProject completion

Property Management

CalculationFee Type Payment Frequency

Leasing Commission

Development Fee

0.75% annual × appraised asset value QuarterlyAsset Management

Incentive Annually

at IPO anniversary

Hurdle rate 9%

High watermark Yes

Fee 10%

Currency 100% in CBFIs

Lock up 6 months

Op

era

tin

g F

ees

Ad

min

istr

ati

on

Fees

30

Northern CTT Corridor(1)

1. CTT is defined as Cuautitlan, Tepotzotlan and Tultitlan

31

Southern CTT Corridor(1) and San Martin Obispo Corridor

1. CTT is defined as Cuautitlan, Tepotzotlan and Tultitlan

32

FIBRA Prologis Management Team

Luis Gutiérrez

Chief Executive Officer

Mr. Gutierrez has been in the real estate sector since 1989. In addition to CEO of Prologis Property Mexico, Mr. Gutierrez is President for Latin

America for Prologis where he is responsible for all Brazil and Mexico related activities including operations, investments, acquisitions and

industrial property development. Mr. Gutierrez was co-founder of “Fondo Opcion” (formerly G. Accion), the first public real estate company in

Mexico, where he acted as Chief Executive Officer. He is currently a member of the Executive Committee of Consejo de Empresas Globales and

is also a member of the Board of Directors of Financcess and Central de Estacionamientos. He also served as President of the AMPIP (The

Mexican Association of Private Industrial Parks) from 2005 to 2006. He is currently the President of the Technical Committee of FIBRA Prologis.

Mr. Gutierrez has a Civil Engineering degree from Universidad Iberoamericana and an MBA from IPADE Business School.

Hector Ibarzabal

Chief Operating Officer

Mr. Ibarzabal has been in the real estate sector since 1988, including office, industrial, retail, and residential sectors. Mr. Ibarzabal’s experience

includes real estate structuring, financing and fund raising. As Country Manager and Head of Operations in Mexico for Prologis, Mr. Ibarzabal

has substantial experience managing Prologis’ activities in Mexico, including development, operations and capital deployment. Previous to

Prologis, Mr. Ibarzabal was co-founder of G. Accion, a publicly traded real estate company, where he acted as CFO, COO and President. He is

currently a member of the technical committee of Prologis Mexico Fondo Logistico, another Mexican industrial real estate investment vehicle

managed by an affiliate of Prologis, a member of the technical committee of FIBRA Shop and a member of the board of directors of Actinver

Fondos and SARE. Mr. Ibarzabal has a Civil Engineering degree from Universidad Iberoamericana and an MBA from IPADE Business School.

Jorge Girault

Chief Financial Officer

Mr. Girault has been in the real estate sector since 1994, including office, industrial, retail and residential sectors. His experience includes real

estate structuring, financing and fund raising. Mr. Girault has significant experience managing Prologis’ equity and debt raising activities, and

is an officer of Prologis Mexico Manager, S. de R.L. de C.V., manager of Prologis Mexico Fondo Logistico, another Mexican industrial real estate

investment vehicle managed by an affiliate of Prologis. Mr. Girault started his professional career at G. Accion, where he acted as Project

Manager, Investor Relations VP and CFO. He is currently a member of the technical committee of Prologis Mexico Fondo Logistico and is a

part time professor at Business School of Universidad Iberoamericana. Mr. Girault has an Industrial Engineering degree from Universidad

Panamericana and an MBA from Universidad Iberoamericana.