DIGITAL REALTY TRUST, INC.

The proposal requests that Digital Realty annually report region-level metrics showing where its portfolio is exposed to water-related risks and the operational water intensity in water-stressed areas, excluding proprietary information. Proponents argue current, aggregated water reporting masks site-specific vulnerabilities—noting that a material portion of water consumption is sourced from high or extremely high water stress regions—and that AI-driven demand growth and acquisitions (which often retain existing water-based cooling) could increase water risk. The submission cites examples of peer disclosures (Equinix, CyrusOne) and rising regulatory and community scrutiny as reasons investors need more granular regional disclosure to evaluate operational and regulatory exposure. The requested disclosure is intended to help investors assess business resilience, anticipate impacts, and evaluate long-term value creation related to water scarcity.