PROLOGIS INC.

Ticker: PLD CUSIP: 74340W103 Class: COM

Municipal Employees' Retirement System of Michigan's Holding History (CIK: 0001588873)

Note: Option positions (PUT/CALL) are excluded.

Q1 2020

Shares 10,580 Value ($000) $850 Avg Close $74.10 Range $51.09 - $84.53

Q4 2019

Shares 8,940 Value ($000) $797 Avg Close $74.69 Range $70.07 - $78.13

Q3 2019

Shares 8,850 Value ($000) $754 Avg Close $69.27 Range $64.84 - $73.00

Q2 2019

Shares 8,730 Value ($000) $699 Avg Close $63.35 Range $59.22 - $69.29

Q1 2019

Shares 8,520 Value ($000) $613 Avg Close $56.37 Range $46.53 - $60.22

Q4 2018

Shares 16,830 Value ($000) $988 Avg Close $53.13 Range $45.55 - $56.46

Q2 2018

Shares 27,230 Value ($000) $1,789 Avg Close $51.98 Range $49.09 - $54.08

Q1 2018

Shares 13,740 Value ($000) $865 Avg Close $49.87 Range $46.68 - $52.22

Q4 2017

Shares 13,740 Value ($000) $886 Avg Close $52.02 Range $50.24 - $53.73

Q3 2017

Shares 26,120 Value ($000) $1,658 Avg Close $48.75 Range $44.72 - $52.07

Q2 2017

Shares 29,350 Value ($000) $1,721 Avg Close $43.75 Range $40.51 - $47.01

Q1 2017

Shares 32,510 Value ($000) $1,686 Avg Close $39.63 Range $37.56 - $42.16

Q4 2016

Shares 32,510 Value ($000) $1,716 Avg Close $39.25 Range $35.41 - $41.37

Q3 2016

Shares 33,520 Value ($000) $1,795 Avg Close $40.41 Range $37.05 - $42.24

Q2 2016

Shares 33,630 Value ($000) $1,649 Avg Close $35.71 Range $32.94 - $38.80

Q1 2016

Shares 24,340 Value ($000) $1,076 Avg Close $30.19 Range $26.46 - $33.55

Q4 2015

Shares 24,030 Value ($000) $1,031 Avg Close $31.42 Range $28.74 - $32.73

Q3 2015

Shares 23,960 Value ($000) $932 Avg Close $28.82 Range $26.67 - $31.25

Q2 2015

Shares 15,170 Value ($000) $563 Avg Close $29.72 Range $27.24 - $32.42

Q1 2015

Shares 14,800 Value ($000) $645 Avg Close $31.72 Range $29.74 - $34.37

Q4 2014

Shares 17,300 Value ($000) $744 Avg Close $29.46 Range $26.62 - $31.84

Q3 2014

Shares 17,300 Value ($000) $652 Avg Close $28.83 Range $26.73 - $30.13

Q2 2014

Shares 17,000 Value ($000) $699 Avg Close $29.06 Range $28.02 - $30.09

Q1 2014

Shares 17,000 Value ($000) $694 Avg Close $27.64 Range $25.42 - $29.46

Q4 2013

Shares 15,400 Value ($000) $569 Avg Close $26.75 Range $24.99 - $28.46

Q3 2013

Shares 15,400 Value ($000) $579 Avg Close $26.02 Range $23.84 - $27.97

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2020	10,580	$850	$74.10	$51.09 - $84.53
Q4 2019	8,940	$797	$74.69	$70.07 - $78.13
Q3 2019	8,850	$754	$69.27	$64.84 - $73.00
Q2 2019	8,730	$699	$63.35	$59.22 - $69.29
Q1 2019	8,520	$613	$56.37	$46.53 - $60.22
Q4 2018	16,830	$988	$53.13	$45.55 - $56.46
Q2 2018	27,230	$1,789	$51.98	$49.09 - $54.08
Q1 2018	13,740	$865	$49.87	$46.68 - $52.22
Q4 2017	13,740	$886	$52.02	$50.24 - $53.73
Q3 2017	26,120	$1,658	$48.75	$44.72 - $52.07
Q2 2017	29,350	$1,721	$43.75	$40.51 - $47.01
Q1 2017	32,510	$1,686	$39.63	$37.56 - $42.16
Q4 2016	32,510	$1,716	$39.25	$35.41 - $41.37
Q3 2016	33,520	$1,795	$40.41	$37.05 - $42.24
Q2 2016	33,630	$1,649	$35.71	$32.94 - $38.80
Q1 2016	24,340	$1,076	$30.19	$26.46 - $33.55
Q4 2015	24,030	$1,031	$31.42	$28.74 - $32.73
Q3 2015	23,960	$932	$28.82	$26.67 - $31.25
Q2 2015	15,170	$563	$29.72	$27.24 - $32.42
Q1 2015	14,800	$645	$31.72	$29.74 - $34.37
Q4 2014	17,300	$744	$29.46	$26.62 - $31.84
Q3 2014	17,300	$652	$28.83	$26.73 - $30.13
Q2 2014	17,000	$699	$29.06	$28.02 - $30.09
Q1 2014	17,000	$694	$27.64	$25.42 - $29.46
Q4 2013	15,400	$569	$26.75	$24.99 - $28.46
Q3 2013	15,400	$579	$26.02	$23.84 - $27.97