A. William Stein - 15 Jan 2022 Form 4 Insider Report for DIGITAL REALTY TRUST, INC. (DLR)

Footnote F1

Long-Term Incentive Units are profits interest units in Digital Realty Trust, L.P. ("Operating Partnership"), of which the Issuer is the general partner. Profits interest units may initially not have full parity with common limited partnership units of Operating Partnership ("Common Units") with respect to liquidating distributions; however upon the occurrence of specified events, profits interest units may achieve full parity with Common Units for all purposes. Vested profits interest units that have achieved full parity with Common Units may be converted into an equal number of Common Units on a 1-for-1 basis at any time. Common Units are redeemable for cash based on the FMV of an equivalent number of shares of common stock of the Issuer, or, at the election of the Issuer, for an equal number of shares of the Issuer's common stock, subject to adjustment in the event of stock splits, stock dividends, issuance of stock rights, specified extraordinary distributions or similar events.

Footnote F2

Reflects an award initially granted on January 1, 2019 that was subject to a performance-based vesting condition which was determined to be satisfied on January 15, 2022. The number of units reported herein includes 7411 distribution equivalent units, which vested effective as of December 31, 2021. The remaining 85819 units are subject to an additional time-based vesting condition, pursuant to which 50% of the units will vest annually over two years, beginning on February 27, 2022. The vested profits interest units have no expiration date.

Footnote F3

Reflects an award initially granted on February 21, 2019 that was subject to a performance-based vesting condition which was determined to be satisfied on January 15, 2022. The number of units reported herein includes 242 distribution equivalent units, which vested effective as of December 31, 2021. The remaining 2800 units are subject to an additional time-based vesting condition, pursuant to which 50% of the units will vest annually over two years, beginning on February 27, 2022. The vested profits interest units have no expiration date.