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digital realty investor presentation28 May digital realty investor presentation

Here you can understand the needs for your digital infrastructure to integrate your applications, services, technologies and partners. Digital Realty reported revenues for the fourth quarter of 2021 of $1.1 billion, a 2% decrease from the previous quarter and a 5% increase from the same quarter last year. 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: The risks included here are not exhaustive, and additional factors could adversely affect our business and financial performance. 2 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 December 31, 2022. Additional Proxy Soliciting Materials (definitive), PDF Format Download (opens in new window), Word Format Download (opens in new window). When typing in this field, a list of search results will appear and be automatically updated as you type. Digital Realty completed the following financing transactions during the first quarter of 2021. Other includes Powered Base Building shell capacity as well as storage and office space within fully improved data center facilities. All other names, trademarks and service marks are the property of their respective owners. Several additional material risks are discussed in our annual report on Form 10K for the year ended December 31, 2020 and other filings with the Securities and Exchange Commission. PDF Global. Connected. Sustainable. Other non-recurring CapEx represents costs incurred to enhance the capacity or marketability of operating properties, such as network fiber initiatives and software development costs. (Source: "Investor Presentation: September 2021," Digital Realty Trust, Inc., last accessed December 22, 2021.) Digital Realty - Investor Relations - Investor Relations Mortgage debt and other loans divided by market value of common equity plus debt plus preferred stock. Recurring capital expenditures represent non-incremental building improvements required to maintain current revenues, including second-generation tenant improvements and external leasing commissions. Calculated as net income plus interest expense divided by GAAP interest expense. During the fourth quarter, Digital Realty made a strategic investment in AtlasEdge Data Centres, a European edge data center provider; acquired 16 acres of land in Northern Virginia for approximately $23 million; and sold a mixed-use retail and data center property in San Jose, California for approximately $60 million. 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. On March 3rd, 2022, Digital Realty declared a $1.22 quarterly dividend, marking a 5% increase and the company's 17th straight year of increasing its payout. The transaction is expected to close in the first half of 2022 and is subject to customary closing conditions. This document 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. Digital realty 2017 investor day. Digital Realty - Investor Relations - Events & Presentations 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. SeriesG Cumulative Redeemable Preferred Stock, 5.875%, $0 (redeemed October 15, 2020, reclassified to accounts payable as of September 30, 2020 for accounting purposes) and $250,000 liquidation preference, respectively ($25.00 per share), 0 and 10,000,000 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively. The presentation is designed to accompany the discussion of the company's First Quarter 2021 financial results and operating performance. As of December 31, 2019, the company owned interests in 225 operating data center facilities [2] totaling 34.5 million rentable square feet in the United States, Europe, Asia, Canada, and Australia. Seven Hills Realty Trust SEVN is a real estate investment trust, or REIT, that originates and invests in first mortgage loans secured by middle market and transitional commercial real estate. During the first quarter of 2021, Digital Realty closed on the sale of a portfolio of 11 data centers in Europe for a total of approximately $680 million. Featured Presentation March 06, 2023 Investor Presentation March 2023 Download PDF View All Presentations Latest Events March 08, 2023 Raymond James 44th Annual Institutional Investors Conference March 07, 2023 Citi's 2023 Communications, Media & Entertainment Conference Investing Groups. Jun. 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 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; our ability to attract and retain 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; our inability to retain data center space that we lease or sublease from third parties; information security and data privacy breaches; difficulty 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; impact on our operations and on the operations of our customers, suppliers and business partners during a pandemic, such as COVID-19; 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; changes in local, state, federal and international laws and regulations, including related to taxation, real estate and zoning laws, and increases in real property tax rates; and. PlatformDIGITAL, the company's global data center platform, provides customers a trusted foundation and proven Pervasive Datacenter Architecture (PDx)solution methodology for scaling digital business and efficiently managing data gravity challenges. Series C Cumulative Redeemable Perpetual Preferred Stock, Series G Cumulative Redeemable Preferred Stock, Series I Cumulative Redeemable Preferred Stock, Series J Cumulative Redeemable Preferred Stock, Series K Cumulative Redeemable Preferred Stock, Series L Cumulative Redeemable Preferred Stock, Common Stock: $0.01 par value per share, 392,000,000 shares authorized, Debt plus preferred stock to total enterprise value. 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, other non-core adjustments, net, non-controlling interests, preferred stock dividends, including undeclared dividends, and issuance costs associated with redeemed preferred stock. You must click the activation link in order to complete your subscription. Digital Realty generated fourth quarter of 2021 Adjusted EBITDA of $584 million, a 4% decrease from the previous quarter and a 1% increase over the same quarter last year. Digital Realty's global data center footprint gives customers access to the connected communities that matter to them with over 280 facilities in nearly 50 metros across 25 countries on six continents. INVESTOR PRESENTATION | AUGUST 2018 11 Note: Percentage costs for data center development shown are based on a sample Digital Realty data center build and are not necessarily representative of all development projects. Digital Realty - Investor Relations - Resources - Investor FAQs Recurring capital expenditures represent non-incremental building improvements required to maintain current revenues, including second-generation tenant improvements and external leasing commissions. Subsequent to quarter-end, Digital Realty announced it has entered into a definitive agreement to acquire roughly a 55% stake in Teraco, Africa's leading carrier-neutral colocation provider, from a consortium of investors including Berkshire Partners and Permira, in a transaction valuing Teraco at approximately $3.5 billion and representing a cap rate of approximately 3.5% on projected 2022 cash net operating income of approximately $121 million. Reconciliation of Earnings Before Interest, Taxes, Depreciation & Amortization and Financial Ratios Unaudited and Dollars in Thousands, Reconciliation of Earnings Before Interest, Taxes, Depreciation & Amortization (EBITDA) (1), Unconsolidated JV interest expense and tax expense. We believe we have ample liquidity to fund our business needs, given the $221 million of cash on the balance sheet and $2.2 billion of availability under our global revolving credit facilities as of March 31, 2021. A reconciliation from U.S. GAAP net income available to common stockholders to Adjusted EBITDA, a definition of Adjusted EBITDA and definitions of net debt-to-Adjusted EBITDA, debt-plus-preferred-to-total enterprise value, cash NOI, and fixed charge coverage ratio are included as an attachment to this document. Other REITs may not calculate FFO in accordance with the NAREIT definition and, accordingly, our FFO may not be comparable to other REITs' FFO. Digital Realty recently took a big step toward international diversification by acquiring a portfolio of eight European data centers for $874 million. You can sign up for additional alert options at any time. See our quarterly report on Form10Q filed on May10, 2019 for additional information. At the end of the fourth quarter of 2021, net debt-to-Adjusted EBITDA was 6.1x, debt-plus-preferred-to-total enterprise value was 21.7% and fixed charge coverage was 5.4x. Common Stock: 284,415,013 and 208,900,758 shares issued and outstanding as of December 31, 2021 and December 31, 2020, respectively. Same as (8), except numerator includes preferred stock. Digital Realty completed the following financing transactions during the fourth quarter. We are monitoring the situation closely and remain in frequent communication with customers, contractors and suppliers. , . FFO should be considered only as a supplement to net income computed in accordance with GAAP as a measure of our performance. For the third quarter 2021, includes a $19 million promote received related to a sale of portfolio of assets within an unconsolidated joint venture. You can sign up for additional alert options at any time. Sep. 17, 2021 4:27 . Adjusted EBITDA divided by the sum of cash interest expense, and preferred dividends (including our pro rata share of unconsolidated joint venture cash fixed charges). In some instances, these delays have impacted scheduled delivery dates. FFO should be considered only as a supplement to net income computed in accordance with GAAP as a measure of our performance. Cash NOI is NOI less straight-line rents and above- and below-market rent amortization. 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. The presentation is designed to accompany the discussion of the company's fourth quarter 2021 financial results and operating performance. 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), unconsolidated JV real estate related depreciation& amortization, non-controlling interests in operating partnership and after adjustments for unconsolidated partnerships and joint ventures. 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. "Demand for data center solutions remains robust, and we are investing organically as well as strategically to expand our global platform to provide customers the capacity and communities they require to execute their digital transformation strategies around the world.". Common Stock and Units Outstanding - diluted. 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. It also excludes properties that were undergoing, or were expected to undergo, development activities in 2021-2022, properties classified as held for sale, and properties sold or contributed to joint ventures for all periods presented. Digital Realty's global data center footprint gives customers access to the connected communities that matter to them with 290 facilities in 47 metros across 24 countries on six continents. A reconciliation from U.S. GAAP net income available to common stockholders to FFO, a reconciliation from FFO to core FFO, and definitions of FFO and core FFO are included as an attachment to this document. Digital Realty Trust (DLR) Investor Presentation . The company reported fourth quarter of 2021 funds from operations of $449 million, or $1.54 per share, compared to $1.54 per share in the previous quarter and $1.45 per share in the same quarter last year. 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 comparedyear overyear, captures trends in occupancy rates, rental rates and operating costs. Adoption of the new lease accounting standard required that we adjust the consolidated balance sheet to include the recognition of additional right-of-use assets and lease liabilities for operating leases. , . EMEA. To participate in the live call, investors are invited to dial (888) 317-6003 (for domestic callers) or (412) 317-6061 (for international callers) and reference the conference ID# 6195647 at least five minutes prior to start time. Based on quarterly average exchange rates during the three months ended December 31, 2021. Relates to severance and other charges related to the departure of company executives and integration-related severance. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Cash NOI is commonly used by stockholders, company management and industry analysts as a measure of property operating performance on a cash basis. SeriesL Cumulative Redeemable Preferred Stock, 5.200%, $345,000 and $345,000 liquidation preference, respectively ($25.00 per share), 13,800,000 800,000 shares issued and outstanding as of December 31, 2021 and December 31, 2020, respectively. You must click the activation link in order to complete your subscription. Digital Realty supports the world's leading enterprises and service providers by delivering the full spectrum of data center, colocation and interconnection solutions. A reconciliation from U.S. GAAP net income available to common stockholders to Adjusted EBITDA, a definition of Adjusted EBITDA and definitions of net debt-to-Adjusted EBITDA, debt-plus-preferred-to-total enterprise value, cash NOI, and fixed charge coverage ratio are included as an attachment to this document. 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. SEVN . Digital Realty says AI to drive next wave of datacenter demand By providing your email address below, you are providing consent to Digital Realty to send you the requested Investor Email Alert updates. 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. Other REITs may not calculate FFO in accordance with the NAREIT definition and, accordingly, our FFO may not be comparable to other REITs' FFO. The promote is included in Other revenue in our consolidated income statement. 5 Signs Digital Realty Trust's Best Days Are Ahead The telephone replay can be accessed by dialing (877) 344-7529 (for domestic callers) or (412) 317-0088 (for international callers) and providing the conference ID# 10153437. PDF Global. Connected. Sustainable. - Seeking Alpha See our quarterly report on Form10Q filed on May10, 2019 for additional information. PlatformDIGITAL, the company's global data center platform, provides customers a trusted foundation and proven Pervasive Datacenter Architecture (PDx)solution methodology for scaling digital business and efficiently managing data gravity challenges. SeriesC Cumulative Redeemable Perpetual Preferred Stock, 6.625%, $201,250 and $201,250 liquidation preference, respectively ($25.00 per share), 8,050,000 and 8,050,000 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively. 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. Digital Realty supports the world's leading enterprises and service providers by delivering the full spectrum of data center, colocation and interconnection solutions. Separately, during the first quarter, Digital Realty also sold a 6.4-acre land parcel in Ashburn, VA for $12 million and a 30,400-square foot vacant building in Waltham, MA for approximately $2 million. the impact of any financial, accounting, legal or regulatory issues or litigation that may affect us. Change in accrued interest and other non-cash amounts, Debt plus preferred stock to total enterprise value (10). Reconciliation of Net Operating Income (NOI). Digital Realty reported revenues for the first quarter of 2021 of $1.1 billion, a 3% increase from the previous quarter and a 32% increase from the same quarter last year. Calculated as net income plus interest expense divided by GAAP interest expense. In addition, Digital Realty acquired a 66,400-square foot building and an adjacent 4.7-acre land parcel in Brussels, Belgium that will support the development of 13.6 megawatts of IT capacity for 13 million, or approximately $15 million. Core FFO should be considered only as a supplement to net income computed in accordance with GAAP as a measure of our performance. All per-share results are presented on a fully-diluted share and unit basis. Digital Realty - Investor Relations - Investment Highlights To participate in the live call, investors are invited to dial (888) 317-6003 (for domestic callers) or (412) 317-6061 (for international callers) and reference the conference ID# 6064617 at least five minutes prior to start time. 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. Rexford Industrial Publishes Updated Investor Presentation 200,000+ Cross connects. AFFO should be considered only as a supplement to net income computed in accordance with GAAP as a measure of our performance. Adjusted EBITDA divided by the sum of cash interest expense, scheduled debt principal payments and preferred dividends (including our pro rata share of unconsolidated joint venture cash fixed charges). To learn more about Digital Realty, please visit digitalrealty.com or follow us on LinkedIn and Twitter. It also excludes properties that were undergoing, or were expected to undergo, development activities in 2020-2021, properties classified as held for sale, and properties sold or contributed to joint ventures for all periods presented. See above for calculations of diluted FFO and the share count detail section that follows the reconciliation of core FFO to AFFO for calculations of weighted average common stock and units outstanding. While we have not experienced any significant business disruptions from the COVID-19 pandemic to date, we cannot predict what impact the COVID-19 pandemic may have on our future financial condition, results of operations or cash flows due to numerous uncertainties. Based on quarterly average exchange rates during the three months ended March 31, 2021. Digital Realty - Investor Relations - Investor Relations / Investor DLR | Digital Realty Trust Inc. Stock Price & News - WSJ Other REITs may calculate AFFO differently than we do and accordingly, our AFFO may not be comparable to other REITs' AFFO. Total enterprise value defined as market value of common equity plus debt plus preferred stock. Management Statements on Non-GAAP Measures Unaudited. Digital Realty is a fast-growing data center operator that is expanding globally and doing so in an environmentally-responsible manner. Commercial Real Estate Investing | Cominar We consider cash interest expense to be a useful measure of interest as it excludes non-cash based interest expense. At Digital Realty, we promise to treat your data with respect and will not share your information with any third party. Rental rates on renewal leases signed during the fourth quarter of 2021 rolled down 3.9% on a cash basis and down 2.6% on a GAAP basis. After submitting your request, you will receive an activation email to the requested email address. During the fourth quarter, Digital Realty announced the successful listing of Digital Core REIT as a standalone publicly traded vehicle listed on the Singapore Stock Exchange. Enhancements and other non-recurring CapEx(4), Recurring CapEx + capitalized leasing costs (5), Real estate depreciation and (gain) / loss on sale, Funds From Operations / share (NAREIT-Defined), Constant-Currency Core Funds From Operations / share. "Digital Realty delivered solid financial results during the first quarter, driven by continued acceleration in digital adoption," said Digital Realty Chief Executive Officer A. William Stein. Digital Realty (Investor Presentation June 2022) REITs are well-known for having a large amount of debt, and Digital Realty is no different, with $14.4 billion in long-term debt. Pro forma for settlement of the $1 billion forward equity offering, net debt-to-adjusted EBITDA was 5.7x and fixed charge coverage was also 5.7x. The company reported first quarter of 2021 funds from operations of $432 million, or $1.49 per share, compared to $1.45 per share in the previous quarter and $0.91 per share in the same quarter last year. Digital Realty Trust (DLR) Investor Presentation - Slideshow

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