Digital Realty Trust Inc. press release

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Corporate Profile

Digital Realty Trust, Inc. (“Digital Realty” or the “company”) owns, acquires, develops, and operates data centers through its operating partnership subsidiary, Digital Realty Trust, L.P. (the “operating partnership”). The company is focused on providing data center, colocation, and interconnection solutions for domestic and international customers across a variety of industry verticals ranging from cloud and information technology services, communications and social networking to financial services, manufacturing, energy, healthcare, and consumer products. As of September 30, 2026, the company’s 311 data centers, including 88 data centers held as investments in unconsolidated entities, contain applications and operations critical to the day-to-day operations of technology industry and corporate enterprise data center customers. Digital Realty’s portfolio is comprised of approximately 3.2 gigawatts of IT capacity, as well as approximately 9.8 gigawatts of buildable IT capacity under active development and held for future development, located throughout North America, Europe, South America, Asia, Australia, and Africa. For additional information, please visit the company’s website at digitalrealty.com.

Corporate Headquarters 601 W 2nd St., 32nd Floor Austin, TX (737) 281-0101 digitalrealty.com Senior Management President & Chief Executive Officer: Andrew P. Power Chief Financial Officer: Matthew R. Mercier Chief Investment Officer: Gregory S. Wright Chief Technology Officer: Christopher L. Sharp Chief Revenue Officer: Colin M. McLean

Investor Relations

To request more information or to be added to our e-mail distribution list, please visit the Investor Relations section of our website at https://investor.digitalrealty.com.

Analyst Coverage

This Earnings Press Release and Supplemental Information package supplements the information provided in our quarterly and annual reports filed with the U.S. Securities and Exchange Commission. Additional information about Digital Realty and our business is also available on our website at digitalrealty.com.

Upcoming Conference Schedule

Webcasts for these events are available through the Digital Realty Investor Relations website when possible. Please check our website for additional information.

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Stock Listing Information

The stock of Digital Realty Trust, Inc. is traded primarily on the New York Stock Exchange under the following symbols:

Symbols may vary by stock quote provider.

Credit Ratings

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, hold or sell any security, and may be revised or withdrawn at any time by the issuing rating agency at 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.

Common Stock Price Performance

The following summarizes recent activity of Digital Realty’s common stock (DLR):

(1) Shares or shares and units in thousands.

(2) On an annualized basis.

(3) As of September 30, 2026, the total number of shares and units includes 374,888 shares of common stock, 4,294 common units held by third parties and 2,355 common units and vested and unvested long-term incentive units held by directors, officers and others and excludes all shares of common stock pot

(4) Dollars in thousands as of the end of the quarter.

This Earnings Press Release and Supplemental Information package supplements the information provided in our quarterly and annual reports filed with the U.S. Securities and Exchange Commission. Additional information about us and our data centers is also available on our website at digitalrealty.com.

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(1) Shares and units are in thousands.

(2) The market value of common equity is based on the closing stock price at the end of the quarter and assumes 100% redemption of the limited partnership units in our operating partnership, including common units and vested and unvested long-term incentive units, for shares of our common stock on a one

(3) EBITDA is calculated as earnings before interest expense, loss on debt extinguishment and modifications, tax expense, and depreciation and amortization. For a discussion of EBITDA, see page 28. For a reconciliation of net income available to common stockholders to EBITDA, see page 27.

(4) Adjusted EBITDA is EBITDA excluding (i) unconsolidated entities real estate related depreciation & amortization, (ii) unconsolidated entities interest and tax expense, (iii) severance, equity acceleration and legal expenses, (iv) transaction and integration expenses, (v) gain (loss) on sale / decons

(5) Net Debt to Adjusted EBITDA is calculated as total debt at balance sheet carrying value (see page 5), plus finance lease obligations, plus our share of unconsolidated entities debt at carrying value, less cash and cash equivalents (including our share of unconsolidated entities cash), divided by the

(6) Fixed charges consist of GAAP interest expense, capitalized interest, scheduled debt principal payments and preferred stock dividends.

(7) Interest coverage ratio is Adjusted EBITDA (including our pro rata share of unconsolidated entities EBITDA), divided by GAAP interest expense plus capitalized interest (including our share of unconsolidated entities interest expense).

(8) Fixed charge coverage ratio is Adjusted EBITDA (including our pro rata share of unconsolidated entities EBITDA), divided by fixed charges (including our share of unconsolidated entities fixed charges).

(9) For definitions and discussion of FFO, Core FFO and Core FFO (excluding net promote), see page 28. For reconciliations of net income available to common stockholders to FFO, Core FFO and Core FFO (excluding net promote), see page 13.

(10) For a definition and discussion of AFFO, see page 28. For a reconciliation of Core FFO to AFFO, see page 14.

(11) Diluted payout ratios for FFO, Core FFO and AFFO are calculated as dividends declared per common share and unit divided by the corresponding diluted FFO, diluted Core FFO and diluted AFFO per share and unit, respectively.

(12) Includes data centers held as investments in unconsolidated entities. Excludes data centers held for sale and contribution.

(13) Represents approximate amounts.

(14) Occupancy and same-capital occupancy exclude capacity under active development and capacity held for development. Occupancy represents our consolidated portfolio in addition to our managed portfolio of unconsolidated entities and non-managed unconsolidated entities. For some of our data centers, we

(15) Represents data centers owned as of December 31, 2024, with less than 5% of total rentable square feet under development. Excludes data centers that were undergoing, or were expected to undergo, development activities in 2025-2026, data centers classified as held for sale and contribution, and data

(16) Weighted average remaining lease term excludes renewal options and is weighted by annualized recurring revenue.

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Digital Realty Reports Third Quarter 2026 Results

Austin, TX — October 29, 2026 — Digital Realty (NYSE: DLR), the world’s largest cloud- and carrier-neutral data center platform, announced today its financial results for the third quarter of 2026. All per share results are presented on a fully diluted basis.

Highlights

◾ Reported net income available to common stockholders of $0.48 per share in 3Q26, compared to $0.15 in 3Q25

◾ Reported FFO per share of $1.97 in 3Q26, compared to $1.65 in 3Q25

◾ Reported Core FFO per share of $2.10 in 3Q26, compared to $1.89 in 3Q25

◾ Signed record total bookings during 3Q26 that are expected to generate $855 million of annualized GAAP base rent at 100% share; at Digital Realty’s share, bookings were a record $627 million, including a record $152 million within the 0-1 megawatt plus interconnection category

◾ Reported rental rate increases on renewal leases of 11.8% on a cash basis in 3Q26

◾ Reported a record total backlog of $2.5 billion of annualized GAAP base rent at 100% share at the end of 3Q26; at Digital Realty’s share, the backlog was a record $1.8 billion

◾ Raised 2026 Core FFO per share (excluding net promote) outlook to $8.30 - $8.35 and 2026 Constant-Currency Core FFO per share (excluding net promote) outlook to $8.25 - $8.30

Financial Results

Digital Realty reported total revenues of $1.9 billion in the third quarter of 2026, 10% higher than the previous quarter when excluding $201 million of promote income in the second quarter and 21% above the same quarter last year.

The company delivered net income of $194 million in the third quarter of 2026, as well as net income available to common stockholders of $185 million and $0.48 per share, compared to $1.21 per share in the previous quarter and $0.15 per share in the same quarter last year.

Digital Realty generated Adjusted EBITDA of $978 million in the third quarter of 2026, which was in line with the previous quarter and a 13% increase over the same quarter last year.

The company reported Funds From Operations (FFO) of $742 million in the third quarter of 2026, or $1.97 per share, compared to $2.73 per share in the previous quarter and $1.65 per share in the same quarter last year.

Digital Realty delivered Core FFO per share (excluding net promote) of $2.10 in the third quarter of 2026, compared to $2.13 per share in the previous quarter and $1.89 per share in the same quarter last year. Digital Realty delivered Core FFO per share (excluding net promote) of $6.27 for the nine-month period ended September 30, 2026. Digital Realty delivered Constant-Currency Core FFO per share (excluding net promote) of $2.10 in the third quarter of 2026 and $6.18 per share for the nine-month period ended September 30, 2026.

“Digital Realty extended its track record of execution in the third quarter with record leasing, an expanding backlog, and another quarter of double-digit earnings growth,” said Digital Realty President and Chief Executive Officer Andy Power. “These results underscore the global strength of customer demand for connectivity-rich environments, trusted execution, and a well-capitalized partner with the reach and capabilities to support their evolving requirements across the digital infrastructure landscape.”

Leasing Activity

In the third quarter, Digital Realty signed total bookings that are expected to generate $855 million of annualized GAAP rental revenue, at 100% share; at Digital Realty’s share, total bookings were $627 million, including a $130 million contribution from the 0-1 MW category and a $22 million contribution from interconnection.

The weighted-average lag between new leases signed during the third quarter of 2026 and the contractual commencement date was 17 months. The backlog of signed-but-not-commenced leases at quarter-end was $2.5 billion of annualized GAAP base rent at 100% share, and $1.8 billion at Digital Realty’s share. In addition, Digital Realty also signed renewal leases representing $261 million of annualized cash rental revenue during the quarter. Rental rates on renewal leases signed during the third quarter of 2026 increased 11.8% on a cash basis and 17.0% on a GAAP basis.

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New leases signed during the third quarter of 2026, at Digital Realty’s share, are summarized by region and product as follows:

Note: Totals may not foot due to rounding differences.

(1) Other includes Powered Base Building® shell capacity as well as storage and office space within fully improved data center facilities.

(2) Based on quarterly average exchange rates during the three months ended September 30, 2026.

Investment Activity

During the third quarter of 2026, Digital Realty acquired $742 million of land:

• Near the Indianapolis metro area, to support over one gigawatt of IT capacity.
• Adjacent to Digital Realty’s Fort Gillem campus in Atlanta to support hyperscale and enterprise colocation IT capacity.
• Two parcels in the Chicago metro area to support hyperscale and enterprise colocation for an aggregate of 360 megawatts of IT capacity .
• In the Charlotte metro area to support development of up to 600 megawatts of IT capacity.
• Near Digital Realty’s Ostend campus in Frankfurt, Germany to support up to 14 megawatts of IT capacity.
• Near Crete, Greece to support up to 5 megawatts of IT capacity.

As previously disclosed, during the quarter, Digital Realty entered into a new joint venture with Rönesans Infrastructure to develop data centers across Türkiye for $33 million. The joint venture's first investment will be a data center in Ankara, expected to support more than 22 megawatts of IT capacity.

Subsequent to quarter end, Digital Realty also closed on the following acquisitions:

• Land near Brussels, Belgium for approximately €15 million or $17 million.
• The freehold interest in the land underlying our campus in Dugny, France for approximately €80 million or $90 million.

An additional 16% stake in Teraco for approximately $688 million from certain minority shareholders, principally through the issuance of 3.4 million shares of common stock, increasing Digital Realty’s ownership from 61% to approximately 77%.

Subsequent to quarter end, we closed $1.4 billion of initial cornerstone equity commitments to our new perpetual capital strategy focused on stabilized hyperscale data centers in North America.

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Balance Sheet

Digital Realty had approximately $19.5 billion of total debt outstanding as of September 30, 2026, comprised of $17.9 billion of unsecured debt and approximately $1.6 billion of secured debt and other debt. At the end of the third quarter of 2026, net debt-to-Adjusted EBITDA was 5.2x, debt-plus-preferred-to-total enterprise value was 23.2% and fixed charge coverage was 4.8x.

During the quarter, the company sold approximately 2.4 million shares of common stock under its At-The-Market (ATM) equity issuance program at a weighted average price of $191.84 per share, for net proceeds of approximately $450 million. Year-to-date, the company has sold approximately 15.9 million shares under its ATM equity issuance program at a weighted average price of $185.98 per share, for net proceeds of approximately $2.9 billion.

In October, the company issued:

• €1 billion of 5.125% euro notes due 2036, for net proceeds of approximately €1 billion ($1.1 billion); and
• CHF225 million of 1.6803% Swiss bonds due 2029, CHF185 million of 2.0600% due 2032 and CHF100 million of 2.4150% due 2036, for aggregate net proceeds of approximately CHF508 million ($611 million).

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2026 Outlook

Digital Realty raised its 2026 Core FFO per share (excluding net promote) outlook to $8.30 - $8.35 and its 2026 Constant-Currency Core FFO per share (excluding net promote) outlook to $8.25 - $8.30. The assumptions underlying the outlook are summarized in the following table.

(1) Net non-cash rent adjustments represent the sum of straight-line rental revenue and straight-line rental expense, as well as the amortization of above- and below-market leases (i.e., ASC 805 adjustments).

(2) Year-end portfolio occupancy guidance based on IT load (kW).

(3) The “Same-Capital” pool includes properties owned as of December 31, 2024 with less than 5% of total rentable square feet under development. It excludes properties that were undergoing, or were expected to undergo, development activities in 2025-2026, properties classified as held for sale and contr

(4) Excludes land acquisitions and includes Digital Realty’s share of joint venture and fund contributions. Figure is net of joint venture and fund partners’ share of contributions.

(5) 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.

(6) Recurring CapEx represents non-incremental improvements required to maintain current revenues, including second-generation tenant improvements and leasing commissions.

Note: The company does not provide a reconciliation for non-GAAP estimates on a forward-looking basis, where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items, and the information is not available without unreasonable effort. Please see Non-GAAP Financial Measures in this document for further discussion.

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Non-GAAP Financial Measures

This document contains non-GAAP financial measures, including FFO, Core FFO, Core FFO (excluding net promote), Constant Currency Core FFO (excluding net promote), Adjusted FFO, Net Operating Income (NOI), “Same-Capital” Cash NOI and Adjusted EBITDA. A reconciliation from U.S. GAAP net income available to common stockholders to FFO, a reconciliation from FFO to Core FFO, a reconciliation from Core FFO (excluding net promote) to Constant Currency Core FFO (excluding net promote), a reconciliation from Core FFO to Adjusted FFO, a reconciliation from NOI to Cash NOI, and definitions of FFO, Core FFO, Constant Currency Core FFO, Core FFO (excluding net promote), Adjusted FFO, NOI and “Same-Capital” Cash NOI are included as an attachment to this document. 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.

The company does not provide a reconciliation for non-GAAP estimates on a forward-looking basis, where it is unable to provide a meaningful or accurate calculation or 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 items that would impact net income attributable to common stockholders per diluted share, which is the most directly comparable forward-looking GAAP financial measure. This includes, for example, external growth factors, such as dispositions, and balance sheet 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 address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures.

Investor Conference Call

Prior to Digital Realty’s investor conference call at 5:00 p.m. ET / 4:00 p.m. CT on October 29, 2026, a presentation will be posted to the Investors section of the company’s website at https://investor.digitalrealty.com. The presentation is designed to accompany the discussion of the company’s third quarter 2026 financial results and operating performance. The conference call will feature President & Chief Executive Officer Andy Power and Chief Financial Officer Matt Mercier.

A live webcast of the call will be available on the Investors section of Digital Realty’s website at https://investor.digitalrealty.com. The webcast will be archived for one year and the replay will be available shortly after the conclusion of the live event.

About Digital Realty

Digital Realty brings companies and data together by delivering the full spectrum of data center, colocation and interconnection solutions. PlatformDIGITAL®, the company’s global data center platform, provides customers with a secure data meeting place and a proven Pervasive Datacenter Architecture (PDx®) solution methodology for powering innovation, from cloud and digital transformation to emerging technologies like artificial intelligence (AI), and efficiently managing Data Gravity challenges. Digital Realty gives its customers access to the connected data communities that matter to them with a global data center footprint of 300+ facilities in 55+ metros across 30+ countries on six continents. To learn more about Digital Realty, please visit digitalrealty.com or follow us on LinkedIn and X.

Contact Information

Matt Mercier

Chief Financial Officer

Digital Realty

Jordan Sadler / Jim Huseby

Investor Relations

Digital Realty

InvestorRelations@digitalrealty.com

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(2) Certain of Teraco's minority indirect shareholders have the right to put their shares in an upstream parent company of Teraco to Digital Realty in exchange for cash or the equivalent value of shares of Digital Realty common stock, or a combination thereof. U.S. GAAP requires Digital Realty to assume

(3) For all periods presented, we have excluded the effect of dilutive series J, series K and series L preferred stock, as applicable, that may be converted into common stock upon the occurrence of specified change in control transactions as described in the articles supplementary governing the series J

(4) Includes development fees included in gains, lease termination fees, gain on sale of equity investment included in other income, insurance proceeds related to property damage and unconsolidated entities non-core adjustments within equity in earnings.

(5) Relates to severance and other charges related to the departure of company executives and integration-related severance.

(6) Includes non-real estate amortization expense, write-offs associated with non-recurring legal and insurance expenses, impact of foreign tax rate changes, non-core adjustments attributable to noncontrolling interests, impact on tax expense due to insurance proceeds related to property damage and adju

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(1) Recurring capital expenditures represent non-incremental building improvements required to maintain current revenues, including second-generation tenant improvements and external leasing commissions. Recurring capital expenditures do not include acquisition costs contemplated when underwriting the p

(2) For a definition and discussion of AFFO, see the Definitions section. For a reconciliation of net income (loss) available to common stockholders to FFO and Core FFO, see above.

(3) For all periods presented, we have excluded the effect of dilutive series J, series K and series L preferred stock, as applicable, that may be converted into common stock upon the occurrence of specified change in control transactions as described in the articles supplementary governing the series J

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(1) Net of allowance for doubtful accounts of $78,043 and $85,274 as of September 30, 2026 and September 30, 2025, respectively.

(2) Series J Cumulative Redeemable Preferred Stock, 5.250%, $200,000 liquidation preference ($25.00 per share), 8,000 shares issued and outstanding as of September 30, 2026 and September 30, 2025.

(3) Series K Cumulative Redeemable Preferred Stock, 5.850%, $210,000 liquidation preference ($25.00 per share), 8,400 shares issued and outstanding as of September 30, 2026 and September 30, 2025.

(4) Series L Cumulative Redeemable Preferred Stock, 5.200%, $345,000 liquidation preference ($25.00 per share), 13,800 shares issued and outstanding as of September 30, 2026 and September 30, 2025.

(5) Common Stock: 374,888 and 343,041 shares issued and outstanding as of September 30, 2026 and September 30, 2025, respectively.

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(1) Backlog and associated financial line items include activity related to properties held in unconsolidated entities.

(2) For definitions and discussion of NOI and cash NOI and a reconciliation of operating income before gain (loss) on disposition of properties, net to NOI and cash NOI, see page 29.

(3) Annualized cash NOI is calculated by multiplying results for the most recent quarter by four. Annualized results may not be indicative of any four-quarter period and do not take into account scheduled lease expirations, among other things. Annualized data is presented for illustrative purposes only.

(4) Other includes Powered Base Building® shell capacity as well as storage and office space within fully improved data center facilities.

(5) Estimated cash NOI related to signed leases that are expected to commence through December 31, 2026. Includes Digital Realty’s share of signed leases at properties held in unconsolidated entities.

(6) For a reconciliation of Digital Realty’s pro rata share of unconsolidated entities operating income to cash NOI, see page 26.

(7) Includes a full year adjustment related to Columbia Capital fee income.

(8) Excludes Digital Realty’s share of cost at properties held in unconsolidated entities.

(9) Includes Digital Realty’s share of construction in progress and expected cost to complete at properties held in unconsolidated entities.

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(1) Assumes all extensions will be exercised.

(2) Subject to cross-currency swaps.

(3) Net of letters of credit issued of $100.8 million.

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Stabilized (“Same-Capital”) Portfolio (1)

(1) Represents data centers owned as of December 31, 2024 with less than 5% of total rentable square feet under development. Excludes data centers that were undergoing, or were expected to undergo, development activities in 2025-2026, data centers classified as held for sale and contribution, and data c

(2) For definitions and discussion of NOI and cash NOI and a reconciliation of operating income before gain (loss) on disposition of properties, net to NOI and cash NOI, see page 29.

(3) Adjustment calculated by holding currency translation rates for 2026 constant with average currency translation rates that were applicable to the same periods in 2025.

(4) Occupancy excludes capacity under active development and capacity held for development.

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Note: Data center totals may not foot due to rounding differences.

(1) Excludes short-term, roof, storage, and garage leases.

(2) Includes leases for new and re-leased capacity.

(3) Other includes Powered Base Building® shell capacity as well as storage and office space within fully improved data center facilities.

(4) Churn is defined as recurring revenue lost during the period due to leases terminated or not renewed, divided by recurring revenue at the beginning of the period.

Note: LTM is last twelve months, including current quarter. Weighted average lease term excludes renewal options and is weighted by annualized GAAP rent.

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(1) Annualized rent represents the monthly contractual base rent (defined as cash base rent before abatements) under existing leases as of September 30, 2026, multiplied by 12.

(2) Includes leases, licenses, and similar agreements that upon expiration have been automatically renewed on a month-to-month basis.

(3) Other includes unimproved data center shell capacity as well as storage and office space within fully improved data center facilities.

Note: Represents consolidated portfolio in addition to our managed and non-managed portfolio of unconsolidated entities based on our ownership percentage.

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(1) Annualized recurring revenue represents the monthly contractual base rent (defined as cash base rent before abatements) and interconnection revenue under existing leases as of September 30, 2026, multiplied by 12.

Note: Represents consolidated portfolio in addition to our managed portfolio of unconsolidated entities based on ownership percentage. Our direct customers may be the entities named in the table above or their subsidiaries or affiliates.

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(1) White Space IT Load represents UPS-backed utility power in megawatts dedicated to Digital Realty’s operated data center capacity.

(2) Annualized base rent represents the monthly contractual base rent (defined as cash base rent before abatements) under existing leases as of September 30, 2026, multiplied by 12.

(3) Occupancy excludes capacity under active development and capacity held for development.

Note: Totals may not foot due to rounding differences.

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