Corporate Data

Corporate Information

Ownership Structure

Consolidated Financial Information

Key Quarterly Financial Data

Consolidated Balance Sheets

Consolidated Quarterly Statements of Operations

Funds From Operations and Adjusted Funds From Operations

Reconciliation of Earnings Before Interest, Taxes, Depreciation and Amortization and Financial Ratios

Net Operating Income (NOI) and Run-rate NOI for the Three Months Ended December 31, 2010

Same Store and New Properties Consolidated Quarterly Statements of Operations

Same Store Operating Trend Summary

Consolidated Debt Analysis and Credit Facility

Revolving Credit Facility Commitments

Debt Maturities

Debt Analysis & Covenant Compliance

Portfolio Data

Portfolio Summary

Properties Acquired

Occupancy Analysis

Major Tenants

Lease Expirations & Lease Distribution

Lease Expirations – By Product Type

Leasing Activity

Tenant Improvements and Leasing Commissions

Historical Capital Expenditures

Redevelopment Activity

Construction Projects in Progress and Total Estimated Cost

Definitions

Management Statements on Non-GAAP Supplemental Measures

the impact of the recent deterioration in global economic, credit and market conditions;

current local economic conditions in our geographic markets;

decreases in information technology spending, including as a result of economic slowdowns or recession;

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);

our dependence upon significant tenants;

bankruptcy or insolvency of a major tenant or a significant number of smaller tenants;

defaults on or non-renewal of leases by tenants;

our failure to obtain necessary debt and equity financing;

increased interest rates and operating costs;

our failure to repay debt when due or our breach of covenants or other terms contained in our loan facilities and agreements;

financial market fluctuations;

changes in foreign currency exchange rates;

our inability to manage our growth effectively;

difficulty acquiring or operating properties in foreign jurisdictions;

our failure to successfully operate acquired or redeveloped properties;

risks related to joint venture investments, including as a result of our lack of control of such investments;

delays or unexpected costs in development or redevelopment of properties;

decreased rental rates or increased vacancy rates;

increased competition or available supply of data center space;

our inability to successfully develop and lease new properties and space held for redevelopment;

our difficulties in identifying properties to acquire and completing acquisitions;

our inability to acquire off-market properties;

our inability to comply with the rules and regulations applicable to reporting companies;

our failure to maintain our status as a REIT;

possible adverse changes to tax laws;

restrictions on our ability to engage in certain business activities;

environmental uncertainties and risks related to natural disasters;

changes in foreign laws and regulations, including those related to taxation and real estate ownership and operation; and

changes in real estate and zoning laws and increases in real property tax rates.

Common Stock:

Credit Ratings

High Price *

Low Price *

Closing Price, end of quarter *

Average daily trading volume *

Indicated dividend per common share **

Closing annual dividend yield, end of quarter

Closing shares and units outstanding, end of quarter ***

Closing market value of shares and units outstanding (thousands), end of quarter

Partner

Digital Realty Trust, Inc.

Cambay Tele.com, LLC ⁽³⁾

Wave Exchange, LLC ⁽³⁾

Directors, Executive Officers and Others

Total

Shares and Units at End of Quarter

Common shares outstanding

Common units outstanding

Total shares and operating partnership units

Enterprise Value

Market value of common equity ⁽¹⁾

Liquidation value of preferred equity

Total debt at balance sheet carrying value

Total enterprise value

Total debt/Total enterprise value

Selected Balance Sheet Data

Investments in real estate (before depreciation)

Total assets

Total liabilities

Selected Operating Data

Total operating revenues from continuing operations

Total operating expenses from continuing operations

Interest expense from continuing operations

Net income

Net income available to common stockholders

Financial Ratios

EBITDA ⁽²⁾

Adjusted EBITDA ⁽³⁾

Cash interest expense ⁽⁴⁾

Fixed charges ⁽⁵⁾

Debt service coverage ratio ⁽⁶⁾

Fixed charge coverage ratio ⁽⁷⁾

Profitability Measures

Net income per common share - basic

Net income per common share - diluted

Funds From Operations (FFO) per diluted share and unit ⁽⁸⁾

Adjusted Funds From Operations (AFFO) per diluted share and unit ⁽⁹⁾

Dividends per share and common unit

Diluted FFO payout ratio ⁽¹⁰⁾

Diluted AFFO payout ratio ⁽¹¹⁾

Portfolio Statistics

Buildings

Properties

Net rentable square feet, excluding redevelopment space

Square feet held for redevelopment ⁽¹²⁾

Occupancy at end of quarter ⁽¹³⁾

Weighted average remaining lease term (years) ⁽¹⁴⁾

Same store occupancy at end of quarter ^(13)(15)

ASSETS

Investments in real estate

Land

Acquired ground leases

Buildings and improvements

Tenant improvements

Investments in real estate

Accumulated depreciation and amortization

Net investments in properties

Investment in unconsolidated joint ventures

Net investments in real estate

Cash and cash equivalents

Accounts and other receivables, net of allowance for doubtful accounts of $3,250 and $2,691 as of December 31, 2010 and December 31, 2009, respectively

Deferred rent

Acquired above market leases, net

Acquired in place lease value and deferred leasing costs, net

Deferred financing costs, net

Restricted cash

Other assets

Total Assets

LIABILITIES AND EQUITY

Revolving credit facility

Unsecured senior notes, net of discount

Exchangeable senior debentures, net of discount

Mortgage loans

Other secured loans

Accounts payable and other accrued liabilities

Accrued dividends and distributions

Acquired below market leases, net

Security deposits and prepaid rents

Total Liabilities

Commitments and contingencies

EQUITY:

Stockholders’ equity:

Preferred Stock: $0.01 par value, 30,000,000 authorized:

Series A Cumulative Redeemable Preferred Stock, 8.50%, zero and $103,500 liquidation preference ($25.00 per share), zero and 4,140,000 issued and outstanding, respectively

Series B Cumulative Redeemable Preferred Stock, 7.875%, zero and $63,250 liquidation preference ($25.00 per share), zero and 2,530,000 issued and outstanding

Series C Cumulative Convertible Preferred Stock, 4.375%, $174,999 liquidation preference ($25.00 per share), 6,999,955 issued and outstanding

Series D Cumulative Convertible Preferred Stock, 5.500%, $344,683 and $344,888 liquidation preference ($25.00 per share), 13,787,300 and 13,795,500 issued and outstanding, respectively

Common Stock: $0.01 par value, 145,000,000 authorized, 91,159,221 and 76,812,783 shares issued and outstanding as of December 31, 2010 and December 31, 2009, respectively

Additional paid-in capital

Dividends in excess of earnings

Accumulated other comprehensive income, net

Total stockholders’ equity

Noncontrolling interests:

Noncontrolling interest in operating partnership

Noncontrolling interest in consolidated joint ventures

Total noncontrolling interests

Total Equity

Total Liabilities and Equity

Rental

Tenant reimbursements

Other

Total operating revenues

Rental property operating and maintenance

Property taxes

Insurance

Depreciation and amortization

General and administrative

Transactions

Other