8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 30, 2009

DIGITAL REALTY TRUST, INC.

(Exact name of registrant as specified in its charter)

Maryland	1-32336	26-0081711
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

560 Mission Street, Suite 2900 San Francisco, California	94105
(Address of principal executive offices)	(Zip Code)

(415) 738-6500

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.

The information in this Item 2.02 of this Current Report is also being furnished under Item 7.01—“Regulation FD Disclosure” of Form 8-K. Such information, including the exhibits attached hereto, is furnished pursuant to Item 2.02 and shall not be deemed “filed” for any purpose, including for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information in this Current Report on Form 8-K shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act regardless of any general incorporation language in such filing.

On July 30, 2009, we issued a press release announcing our financial results for the quarter ended June 30, 2009. The text of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

On July 30, 2009, we posted certain supplemental operating and financial data on our website located at www.digitalrealtytrust.com. That supplemental operating and financial data is attached hereto as Exhibit 99.2 and is incorporated by reference herein.

Item 7.01 Regulation FD Disclosure.

The information in this Item 7.01 of this Current Report is also being furnished under Item 2.02—“Results of Operations and Financial Condition” of Form 8-K. Such information, including the exhibits attached hereto, is furnished pursuant to Item 7.01 and shall not be deemed “filed” for any purpose, including for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that Section. The information in this Current Report on Form 8-K shall not be deemed incorporated by reference into any filing under the Securities Act or the Exchange Act regardless of any general incorporation language in such filing.

On July 30, 2009, we issued a press release announcing our financial results for the quarter ended June 30, 2009. The text of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

On July 30, 2009, we posted certain supplemental operating and financial data on our website located at www.digitalrealtytrust.com. That supplemental operating and financial data is attached hereto as Exhibit 99.2 and is incorporated by reference herein.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.	Description
99.1	Press Release dated July 30, 2009.
99.2	Supplemental Operating and Financial Data posted July 30, 2009.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Digital Realty Trust, Inc.
By:	/s/    Joshua A. Mills
	Joshua A. Mills
	General Counsel and Assistant Secretary

Dated: July 30, 2009

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release dated July 30, 2009.
99.2	Supplemental Operating and Financial Data posted July 30, 2009.

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

For Additional Information:

A. William Stein	Pamela Matthews
Chief Financial Officer and	Investor/Analyst Information
Chief Investment Officer	Digital Realty Trust, Inc.
Digital Realty Trust, Inc.	+1 (415) 738-6532
+1 (415) 738-6520

DIGITAL REALTY TRUST, INC. REPORTS SECOND QUARTER 2009 RESULTS

Strong performance yields 22% year-over-year growth in FFO per diluted share and unit

Highlights:

• Reported FFO of $0.71 per diluted share and unit for the quarter ended June 30, 2009, up 22.4% from the second quarter of 2008;

• Reported net income for the quarter ended June 30, 2009 of $21.2 million and net income available to common stockholders of $10.3 million, or $0.13 per diluted share;

• Increased quarterly common stock dividend by 9.1% to $0.36 per share;

• Commenced leases on approximately 115,000 square feet during the second quarter at an average annualized GAAP rent of approximately $139 per square foot, including non technical space;

• Acquired four contiguous parcels of land, including an utility substation, totaling 34.2 acres located adjacent to its existing datacenter facilities in Ashburn, Virginia; commenced construction of a 135,000 square foot datacenter facility on the first parcel;

• Completed an $18.1 million secured mortgage financing;

• Received a preliminary $30 million commitment from a new lender, which will bring the total commitments under the Revolving Credit Facility to $750 million upon closing;

• Issued $266.4 million of 5.50% Exchangeable Senior Debentures due 2029;

• Updated 2009 annual FFO per diluted share and unit guidance range to $2.80 to $2.90 and net income available to common stockholders per diluted share and unit guidance range to $0.80 to $0.90; and

• Added acquisitions guidance range for income producing properties of $120 million to $200 million at average cap rates between 10% and 12%.

560 MISSION STREET, SUITE 2900

SAN FRANCISCO, CA 94105

415-738-6500

Page 1

San Francisco, Calif. (July 30, 2009) – Digital Realty Trust, Inc. (NYSE: DLR), the leading owner and manager of corporate and Internet gateway datacenter facilities, today announced financial results for the second quarter of 2009. The Company reported total operating revenues of $155.0 million in the second quarter of 2009, up 4.0% from $149.1 million in the first quarter of 2009 and up 25.2% from $123.8 million in the second quarter of 2008.

“There were no material non-recurring items impacting FFO or net income in the quarters ended June 30 and March 31, 2009 and June 30, 2008. Our strong financial performance is the result of operations,” said A. William Stein, Chief Financial Officer and Chief Investment Officer of Digital Realty Trust. “In addition, our board of directors approved an increase to our common stock dividend by 9.1%, or $0.03 to $0.36 per quarter. The decision to increase the dividend a quarter earlier than we have in previous years was in anticipation of increasing REIT taxable income and distribution requirements for 2009.”

Funds from operations (“FFO”) on a diluted basis was $70.4 million in the second quarter of 2009, or $0.71 on a diluted per share and unit basis, up 1.4% from $0.70 per diluted share and unit in the previous quarter, and up 22.4% from $0.58 per diluted share and unit in the second quarter of 2008.

Net income for the second quarter was $21.2 million, unchanged from first quarter of 2009 and up 55.9% from $13.6 million in the second quarter of 2008. Net income available to common stockholders in the second quarter was $10.3 million, or $0.13 per diluted share, compared to $10.3 million, or $0.14 per diluted share in the first quarter of 2009, and up from $3.1 million, or $0.05 per diluted share in the second quarter of 2008.

“We are pleased to report that the Company delivered another strong performance in the second quarter. The ongoing demand for datacenter space combined with our business model and strong balance sheet continued to produce positive results for our shareholders,” commented Michael F. Foust, Chief Executive Officer of Digital Realty Trust. “We are well-positioned to meet our expectations for the year and we remain focused on continuing our growth into 2010.”

On January 1, 2009, the Company adopted FASB Staff Position No. APB 14-1, Accounting for Convertible Debt Instruments that may be Settled in Cash upon Conversion (Including Partial Cash Settlement), which was required to be applied retrospectively. Accordingly, net income for all historical periods since the issuance of the 4.125% Senior Exchangeable Debentures in August 2006 has been retrospectively adjusted. For example, the quarter ended June 30, 2008 has been adjusted to include $0.6 million of additional noncash interest expense, net of capitalized interest and allocation to noncontrolling interests. The effect is a decrease in FFO on a diluted share and unit basis by $0.01 for the quarter ended June 30, 2008.

Page 2

FFO is a supplemental non-GAAP financial measure used by the real estate industry to measure the operating performance of real estate companies. FFO should not be considered as a substitute for net income determined in accordance with U.S. GAAP as a measure of financial performance. A reconciliation of U.S. GAAP net income available to common stockholders to FFO and a definition of FFO are included as an attachment to this press release.

Acquisitions and Leasing Activity

In May, the Company acquired four contiguous parcels of land, one of which includes an important utility substation, totaling 34.2 acres located adjacent to its existing datacenter facilities in Ashburn, Virginia. The new parcels increase the potential capacity of the campus by more than 400,000 square feet. In June, construction of a 135,000 square foot datacenter facility commenced on the first parcel. Designed to meet Digital Realty Trust’s specifications, the facility will ultimately support four 2250 kW Turn-Key Datacenter^SM pods totaling 68,000 square feet of raised floor and approximately 7,500 square feet of office space.

For the quarter ended June 30, 2009, the Company commenced leases totaling approximately 115,000 square feet of space. This includes approximately 93,000 square feet of Turn-Key Datacenter ^SM space leased at an average annual GAAP rental rate of $166.00 per square foot and approximately 22,000 square feet of non-technical space leased at an average annual GAAP rental rate of $24.00 per square foot. In addition, approximately $627,000 of additional incremental annualized GAAP rental revenue commenced during the quarter for rooftop infrastructure associated with existing Powered Base Building^SM leases.

Balance Sheet Update

Total assets grew to approximately $3.4 billion at June 30, 2009, from $3.3 billion at December 31, 2008. Total debt at June 30, 2009 was approximately $1.5 billion and at December 31, 2008 was approximately $1.4 billion. Stockholders’ equity was approximately $1.6 billion at June 30, 2009, up from $1.5 billion at December 31, 2008.

In July, the Company received a preliminary $30.0 million commitment under its revolving credit facility from a new lender. The transaction is expected to close in August subject to satisfaction of specified conditions, and will increase total commitments from $720.0 million to $750.0 million, the maximum amount available under the terms of the revolving credit facility. Concurrently, the sub-facility for multicurrency advances will increase from $485.0 million to $515.0 million.

Page 3

On June 24, the Company completed the financing of 1201 Comstock Street in Santa Clara, California. The new loan for $18.1 million has a three-year maturity with a one-year extension. The loan has a variable rate of LIBOR plus 3.5% and is subject to a 4.0% LIBOR interest rate cap. At July 30, 2009, the all-in variable interest rate was 3.785%.

On April 20, the Company issued $266.4 million of its 5.50% Exchangeable Senior Debentures due 2029, resulting in $258.6 million in net proceeds that will be used to temporarily repay borrowings under the revolving credit facility, to fund development and redevelopment activities, and for general corporate purposes.

“We have continued to improve our liquidity with additional capital, including a secured mortgage debt financing and the new commitment to our revolving credit facility. This commitment will maximize the facility’s accordion feature, bringing full capacity on the revolver to $750 million upon closing. Of equal importance to the Company are the relationships with two new lenders, which we look forward to expanding in the future,” said A. William Stein, Chief Financial Officer and Chief Investment Officer of Digital Realty Trust. “Based on our performance to date and greater visibility towards the year end, we are narrowing the annual guidance range of FFO per diluted share and unit to $2.80 to $2.90. This revision is based on our existing assumptions and an additional assumption that we will close acquisitions of income producing properties in the range of $120 million to $200 million at average cap rates between 10% and 12%.”

2009 Revised Outlook

FFO per diluted share and unit for the year ending December 31, 2009 is projected to be between $2.80 and $2.90, compared to the previous 2009 FFO guidance of between $2.75 and $2.90 per diluted share and unit. This revised guidance represents projected FFO growth of 7.7% to 11.5% over FFO per diluted share and unit of $2.60 for the year ended December 31, 2008 (adjusted to give retrospective effect to FASB Staff Position No. APB 14-1 as described above). A reconciliation of the range of 2009 projected net income to projected FFO follows:

	(Low - High)
Net income available to common stockholders per diluted share	$	0.80 - 0.90
Add:
Real estate depreciation and amortization as adjusted for noncontrolling interests	$	2.00
Projected FFO per diluted share	$	2.80 - 2.90

Page 4

Investor Conference Call Details

Digital Realty Trust will host a conference call on Thursday, July 30, 2009 at 1:00 pm ET/10:00 am PT to discuss its second quarter 2009 financial results and operating performance. The conference call will feature Chief Executive Officer, Michael Foust and Chief Financial Officer and Chief Investment Officer, A. William Stein. To participate in the live call, investors are invited to dial 877-941-2333 (for domestic callers) or 480-629-9724 (for international callers) and quote the conference ID #4096189 at least five minutes prior to start time. A live webcast of the call will be available via the Investor Relations section of Digital Realty Trust’s website at www.digitalrealtytrust.com. Please go to the website at least 15 minutes early to register and download and install any necessary audio software. If you are unable to listen to the live conference call, a telephone and webcast replay will be available after 12:00 pm PT on Thursday, July 30, 2009 until 11:59 pm PT on Thursday, August 6, 2009. The telephone replay can be accessed by dialing 800-405-7325 (for domestic callers) or 303-590-3030 (for international callers) and using reservation code 4096189#. A replay of the webcast will also be archived on Digital Realty Trust’s website.

About Digital Realty Trust, Inc.

Digital Realty Trust, Inc. owns, acquires, redevelops, develops and manages technology-related real estate. The Company is focused on providing Turn-Key Datacenter^SM and Powered Base Building^SM datacenter solutions for domestic and international tenants across a variety of industry verticals ranging from information technology and Internet enterprises, to manufacturing and financial services. Digital Realty Trust’s 75 properties, excluding one property held as an investment in an unconsolidated joint venture, contain applications and operations critical to the day-to-day operations of technology industry tenants and corporate enterprise datacenter tenants. Comprising approximately 13.0 million rentable square feet as of July 30, 2009, including 1.1 million square feet of space held for redevelopment, Digital Realty Trust’s portfolio is located in 27 markets throughout North America and Europe. For additional information, please visit Digital Realty Trust’s website at http://www.digitalrealtytrust.com.

Safe Harbor Statement

This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Such forward looking statements include statements related to the Company’s expected future financial and other results. These risks and uncertainties include the impact of the current deterioration in global economic and market conditions; adverse economic or real estate developments in our markets or the industry sectors that we sell to; decreases in information technology spending; our dependence upon significant tenants; bankruptcy or insolvency of a major tenant or a significant number of smaller tenants; downturn of local economic conditions in our geographic markets; our inability to comply with the rules and regulations applicable to public

Page 5

companies or to manage our growth effectively; difficulty acquiring or operating properties in foreign jurisdictions; defaults on or non-renewal of leases by tenants; increased interest rates and operating costs; our failure to obtain necessary outside financing; restrictions on our ability to engage in certain business activities; risks related to joint venture investments; decreased rental rates or increased vacancy rates; inability to successfully develop and lease new properties and space held for redevelopment; difficulties in identifying properties to acquire and completing acquisitions; increased competition or available supply of data center space; our failure to successfully operate acquired properties; our inability to acquire off-market properties; delays or unexpected costs in development or redevelopment of properties; our failure to maintain our status as a REIT; possible adverse changes to tax laws; environmental uncertainties and risks related to natural disasters; financial market fluctuations; changes in foreign currency exchange rates; 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. For a further list and description of such risks and uncertainties, see the reports and other filings by the Company with the United States Securities and Exchange Commission, including the Company’s annual report on Form 10-K for the year ended December 31, 2008 and subsequent reports on Form 10-Q and Form 8-K. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Page 6

Digital Realty Trust, Inc.

Condensed Consolidated Income Statements

(in thousands, except share data)

(unaudited)

	Three Months Ended						Six Months Ended
	June 30, 2009			June 30, 2008			June 30, 2009			June 30, 2008
				(adjusted)						(adjusted)
Operating Revenues:
Rental	$	125,380		$	97,966		$	243,469		$	190,712
Tenant reimbursements		29,544			25,698			60,571			47,485
Other		83			112			101			126
Total operating revenues		155,007			123,776			304,141			238,323
Operating Expenses:
Rental property operating and maintenance		42,301			35,943			84,874			67,624
Property taxes		9,149			8,522			18,360			16,646
Insurance		1,488			1,198			2,944			2,403
Depreciation and amortization		49,183			39,591			95,487			78,744
General and administrative		10,040			9,686			20,142			18,469
Other		—			2			285			309
Total operating expenses		112,161			94,942			222,092			184,195
Operating income		42,846			28,834			82,049			54,128
Other Income (Expenses):
Equity in earnings of unconsolidated joint venture		741			173			1,857			331
Interest and other income		403			407			646			1,062
Interest expense		(22,495	)		(14,956	)		(41,432	)		(30,158	)
Income tax expense		(292	)		(726	)		(728	)		(815	)
Loss from early extinguishment of debt		—			(182	)		—			(182	)
Net Income		21,203			13,550			42,392			24,366
Net income attributable to noncontrolling interests		(831	)		(354	)		(1,624	)		(593	)
Net Income Attributable to Digital Realty Trust, Inc.		20,372			13,196			40,768			23,773
Preferred stock dividends		(10,101	)		(10,102	)		(20,202	)		(18,360	)
Net Income Available to Common Stockholders	$	10,271		$	3,094		$	20,566		$	5,413
Net income per share available to common stockholders:
Basic	$	0.13		$	0.05		$	0.27		$	0.08
Diluted	$	0.13		$	0.05		$	0.27		$	0.08
Weighted average shares outstanding:
Basic		76,121,380			65,889,122			75,416,483			65,660,354
Diluted		76,851,202			68,068,600			75,806,481			67,563,963

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Digital Realty Trust

Consolidated Balance Sheets

(in thousands)

	June 30, 2009			December 31, 2008
	(unaudited)
ASSETS
Investments in real estate
Properties:
Land	$	341,719		$	316,318
Acquired ground leases		2,742			2,733
Buildings and improvements		2,666,148			2,467,830
Tenant improvements		264,927			255,818
Investments in properties		3,275,536			3,042,699
Accumulated depreciation and amortization		(378,523	)		(302,960	)
Net investments in properties		2,897,013			2,739,739
Investment in unconsolidated joint venture		8,338			8,481
Net investments in real estate		2,905,351			2,748,220
Cash and cash equivalents		69,316			73,334
Accounts and other receivables, net		40,195			39,108
Deferred rent		122,823			99,957
Acquired above market leases, net		28,503			31,352
Acquired in place lease value and deferred leasing costs, net		215,597			222,389
Deferred financing costs, net		21,938			16,275
Restricted cash		30,676			45,470
Other assets		10,309			4,940
Total Assets	$	3,444,708		$	3,281,045
LIABILITIES AND EQUITY
Revolving credit facility	$	32,668		$	138,579
Unsecured senior notes		83,000			58,000
Mortgage loans		973,604			1,026,594
4.125% exchangeable senior debentures due 2026, net of discount		163,834			161,901
5.50% exchangeable senior debentures due 2029		266,400			—
Accounts payable and other accrued liabilities		127,279			171,176
Accrued dividends and distributions		—			26,092
Acquired below market leases, net		69,840			76,660
Security deposits and prepaid rents		56,719			46,967
Total Liabilities		1,773,344			1,705,969
Equity:
Stockholders’ equity		1,584,948			1,503,921
Noncontrolling interests		86,416			71,155
Total Equity		1,671,364			1,575,076
Total Liabilities and Equity	$	3,444,708		$	3,281,045

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Digital Realty Trust, Inc.

Reconciliation of Net Income Available to Common Stockholders to Funds From Operations (FFO) ⁽¹⁾

(in thousands, except per share and unit data)

(unaudited)

	Three Months Ended									Six Months Ended
	June 30, 2009			March 31, 2009			June 30, 2008			June 30, 2009			June 30, 2008
							(adjusted)						(adjusted)
Net income available to common stockholders	$	10,271		$	10,295		$	3,094		$	20,566		$	5,413
Adjustments:
Noncontrolling interests		831			793			354			1,624			593
Real estate related depreciation and amortization (2)		48,900			46,087			39,414			94,987			78,408
Real estate related depreciation and amortization related to investment in unconsolidated joint venture		858			646			872			1,504			1,766
FFO available to common stockholders and unitholders (3)	$	60,860		$	57,821		$	43,734		$	118,681		$	86,180
Basic FFO per share and unit	$	0.74		$	0.72		$	0.60		$	1.46		$	1.19
Diluted FFO per share and unit (3)	$	0.71		$	0.70		$	0.58		$	1.41		$	1.16
Weighted average common stock and units outstanding
Basic		81,999			80,550			72,354			81,278			72,265
Diluted (3)		99,461			92,571			86,366			95,962			84,412
(1)    Financial information for prior periods has been adjusted for the retroactive application of the following new accounting guidance adopted by the Company effective January 1, 2009: FASB Staff Position APB 14-1 “Accounting for Convertible Debt Instruments That May be Settled Upon Conversion (Including Partial Cash Settlement)”; Statement of Financial Accounting Standard No. 160 “Noncontrolling Interests in Consolidated Financial Statements - An Amendment of ARB No. 51”. (2)    Real estate depreciation and amortization was computed as follows:
Depreciation and amortization per income statement		49,183			46,304			39,591			95,487			78,744
Non real estate depreciation		(283	)		(217	)		(177	)		(500	)		(336	)
	$	48,900		$	46,087		$	39,414		$	94,987		$	78,408

(3) At June 30, 2009, we had 6,999,955 series C convertible preferred shares and 13,795,500 series D convertible preferred shares outstanding that were convertible into 3,614,777 common shares and 8,215,221 common shares, respectively. In addition, we had a balance of $266,400 of 5.50% exchangeable senior debentures that were exchangeable for 4,901,812 and 2,464,447 common shares on a weighted average basis for the three and six months ended June 30, 2009, respectively. See below for calculations of diluted FFO available to common stockholders and unitholders and weighted average common stock and units outstanding.

	Three Months Ended						Six Months Ended
	June 30, 2009		March 31, 2009		June 30, 2008		June 30, 2009		June 30, 2008
FFO available to common stockholders and unitholders	$	60,860	$	57,821	$	43,734	$	118,681	$	86,180
Add: Series C convertible preferred dividends		1,914		1,914		1,914		3,828		3,828
Add: Series D convertible preferred dividends		4,742		4,742		4,744		9,484		7,643
Add: 5.50% exchangeable senior debentures interest		2,890		—		—		2,890		—
FFO available to common stockholders and unitholders — diluted	$	70,406	$	64,477	$	50,392	$	134,883	$	97,651
Weighted average common stock and units outstanding		81,999		80,550		72,354		81,278		72,265
Add: Effect of dilutive securities (excluding series C and D convertible preferred stock)		730		191		2,179		390		1,904
Add: Effect of dilutive series C convertible preferred stock		3,615		3,615		3,615		3,615		3,615
Add: Effect of dilutive series D convertible preferred stock		8,215		8,215		8,218		8,215		6,628
Add: Effect of dilutive 5.50% exchangeable senior debentures		4,902		—		—		2,464		—
Weighted average common stock and units outstanding — diluted		99,461		92,571		86,366		95,962		84,412

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Note Regarding Funds From Operations

Digital Realty Trust calculates Funds from Operations, or FFO, in accordance with the standards established by the National Association of Real Estate Investment Trusts, or NAREIT. FFO represents net income (loss) available to common stockholders and unitholders (computed in accordance with U.S. GAAP), excluding gains (or losses) from sales of property, real estate related depreciation and amortization (excluding amortization of deferred financing costs) and after adjustments for unconsolidated partnerships and joint ventures. Management uses FFO as a supplemental performance measure because, in excluding real estate related depreciation and amortization and gains and losses from property dispositions, it provides a performance measure that, when compared year over year, captures trends in occupancy rates, rental rates and operating costs. Digital Realty Trust also believes that, as a widely recognized measure of the performance of REITs, FFO will be used by investors as a basis to compare our operating performance with that of other REITs. However, because FFO excludes depreciation and amortization and captures neither the changes in the value of our properties that result from use or market conditions, nor the level of capital expenditures and leasing commissions necessary to maintain the operating performance of our properties, all of which have real economic effect and could materially impact our financial condition and results from operations, the utility of FFO as a measure of our performance is limited. Other REITs may not calculate FFO in accordance with the NAREIT definition and, accordingly, our FFO may not be comparable to such other REITs’ FFO. Accordingly, FFO should be considered only as a supplement to net income as a measure of our performance.

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EX-99.2

Exhibit 99.2

DIGITAL REALTY TRUST, INC.

Second Quarter 2009

	PAGE
Corporate Data
Corporate Information	4
Ownership Structure	5
Consolidated Financial Information
Key Quarterly Financial Data	6
Consolidated Balance Sheets	7
Consolidated Quarterly Statements of Operations	8
Funds From Operations and Adjusted Funds From Operations	9
Reconciliation of Earnings Before Interest, Taxes, Depreciation and Amortization and Financial Ratios	10
Net Operating Income (NOI) and Run-rate NOI for the three months ended June 30, 2009	11
Same Store and New Properties Consolidated Quarterly Statements of Operations	12
Same Store Operating Trend Summary	13
Consolidated Debt Analysis and Credit Facility	14
Revolving Credit Facility Commitments	15
Debt Maturities	16
Portfolio Data
Portfolio Summary	17
Properties Acquired	18
Occupancy Analysis	19
Major Tenants	21
Utility Power Capacity	22
Lease Expirations & Lease Distribution	23
Leasing Activity	24
Tenant Improvements and Leasing Commissions	25
Historical Capital Expenditures	26
Redevelopment Activity	27
Definitions
Management Statements on Non-GAAP Supplemental Measures	28

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DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Statement Regarding Forward-Looking Statements

This supplemental package contains forward-looking statements within the meaning of the federal securities laws, including information related to run-rate net operating income. Such statements are based on management’s beliefs and assumptions made based on information currently available to management. Such statements are subject to risks, uncertainties and assumptions and are not guarantees of future performance and may be affected by known and unknown risks, trends, uncertainties and factors that are beyond our control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Some of the risks and uncertainties that may cause our actual results, performance or achievements to differ materially from those expressed or implied by forward-looking statements include, among others, the following:

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

• downturn of 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;

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

• 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 public 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.

The risks included here are not exhaustive, and additional factors could adversely affect our business and financial performance. We discussed a number of additional material risks in our annual report on Form 10-K for the year ended December 31, 2008, and other filings with the Securities and Exchange Commission. Those risks continue to be relevant to our performance and financial condition. Moreover, we operate in a very competitive and rapidly changing environment. New risk factors emerge from time to time and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such risk factors on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. We expressly disclaim any responsibility to update forward-looking statements, whether as a result of new information, future events or otherwise.

Page 3

DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Corporate Information

Corporate Profile

Digital Realty Trust, Inc. owns, acquires, repositions and manages technology-related real estate. The Company’s 75 properties, excluding one property held as an investment in an unconsolidated joint venture and including a development in London, contain applications and operations critical to the day-to-day operations of technology industry tenants and corporate enterprise data center tenants. Comprising approximately 11.9 million net rentable square feet, including approximately 1.1 million square feet of space held for redevelopment, Digital Realty Trust’s property portfolio is located throughout North America and Europe. For additional information, please visit the company’s website at www.digitalrealtytrust.com.

Corporate Headquarters

560 Mission Street, Suite 2900

San Francisco, California 94105

Telephone: (415) 738-6500

Facsimile: (415) 738-6501

Web site: www.digitalrealtytrust.com

Senior Management

Richard A. Magnuson: Chairman

Michael F. Foust: Chief Executive Officer

A. William Stein: Chief Financial Officer and Chief Investment Officer

Scott E. Peterson: Senior Vice President, Acquisitions

Christopher J. Crosby: Senior Vice President, Sales and Technical Services

David J. Caron: Senior Vice President, Portfolio Management

Investor Relations

To request an Investor Relations package or be added to our e-mail distribution list, please visit our website:

www.digitalrealtytrust.com        (Proceed to Information Request in the Investor Relations section)

Analyst Coverage

Credit Suisse	Macquarie	JMP Securities
Steve Benyik	Nick Pirsos	William Marks
(212) 538-0239	(212) 231-2457	(415) 835-8944
Green Street	Oppenheimer	Citigroup	Baird
Michael Knott	Srinivas Anantha	Michael Bilerman	David Aubuchon
(949) 640-8780	(617) 428-5960	(212) 816-1685	(314) 863-4235
Matthew Wokasch	Peter Armstrong	Irwin Guzman	Justin Pelham-Webb
(949) 640-8780	(212) 667-5808	(212) 816-1685	(314) 863-6413
RBC Capital Markets	Raymond James	KeyBanc Capital Markets	ISI
Dave Rodgers	Paul D. Puryear	Jordan Sadler	Steve Sakwa
(440) 715-2647	(727) 567-2253	(917) 368-2280	(212) 446-9462
Mike Carroll	William A. Crowe	Craig Mailman	Ian Weismann
(440) 715-2649	(727) 567-2594	(917) 368-2316	(212) 446-9461

Stock Listing Information

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

Common Stock:	DLR
Series A Preferred Stock:	DLRPA
Series B Preferred Stock:	DLRPB

Note that symbols may vary by stock quote provider.

Common Stock Price Performance

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

	2nd Quarter 2009			1st Quarter 2009			4th Quarter 2008			3rd Quarter 2008			2nd Quarter 2008			1st Quarter 2008
High Price*	$	39.84		$	35.70		$	47.62		$	51.28		$	43.45		$	39.20
Low Price*	$	32.14		$	24.96		$	18.04		$	36.96		$	35.43		$	31.28
Closing Price, end of quarter*	$	35.85		$	33.18		$	32.85		$	47.25		$	40.91		$	35.50
Average daily trading volume*		2,258,424			2,074,752			1,876,211			1,139,423			904,670			1,224,336
Indicated dividend per common share**	$	1.320		$	1.320		$	1.320		$	1.240		$	1.240		$	1.240
Closing annual dividend yield, end of quarter		3.7	%		4.0	%		4.0	%		2.6	%		3.0	%		3.5	%
Closing shares and units outstanding end of quarter***		82,013,377			81,980,716			79,125,833			78,259,621			72,405,839			72,329,436
Closing market value of shares and units outstanding (thousands), end of quarter	$	2,940,180		$	2,720,120		$	2,599,284		$	3,697,767		$	2,962,123		$	2,567,695

* New York Stock Exchange trades only.

** On an annual basis.

*** As of June 30, 2009, the total number of shares and units includes 76,140,807 shares of common stock, 4,480,549 common units held by third parties and 1,392,021 common units, vested and unvested long-term incentive units and vested class C units held by officers and directors, and excludes all unvested class C units, all unexercised common stock options and all shares potentially issuable upon exchange of our 4.125% exchangeable senior debentures due 2026 and 5.50% exchangeable senior debentures due 2029 or upon conversion of our series C and D cumulative convertible preferred stock.

This Supplemental Operating and Financial Data package supplements the information provided in our quarterly and annual reports filed with the Securities and Exchange Commission. Additional information about us and our properties is also available at our website www.digitalrealtytrust.com.

Page 4

DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Ownership Structure

As of June 30, 2009

Partner	# of Units(2)	% Ownership
Digital Realty Trust, Inc.	76,140,807	92.8	%
Cambay Tele.com, LLC(3)	4,447,827	5.5	%
Wave Exchange, LLC(3)	32,722	0.0	%
Directors, Executive Officers and Others	1,392,021	1.7	%
Total	82,013,377	100.0	%

(1) Reflects limited partnership interests held by our officers and directors in the form of common units and vested and unvested long-term incentive units and excludes unvested class C units and all unexercised common stock options.

(2) The total number of shares and units includes 76,140,807 shares of common stock, 4,480,549 common units held by third parties and 1,392,021 common units, vested and unvested long-term incentive units (including vested class C units) held by officers and directors, and excludes all unvested class C units, all unexercised common stock options and all shares potentially issuable upon exchange of our 4.125% exchangeable senior debentures due 2026 and 5.50% exchangeable senior debentures due 2029 or upon conversion of our series C and D cumulative convertible preferred stock.

(3) These third-party contributors received the common units (along with cash and the operating partnership’s assuming debt) in exchange for their interests in 200 Paul Avenue 1-4, 1100 Space Park Drive, the exchange colocation business and other specified assets and liabilities. Includes 584,913 common units held by the members of Cambay Tele.com, LLC.

Page 5

DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Key Quarterly Financial Data⁽¹⁾

(Unaudited and dollars in thousands, except per share data)

	For the three months ended or as of
	30-Jun-09			31-Mar-09			31-Dec-08			30-Sep-08			30-Jun-08			31-Mar-08
Shares and units at end of quarter
Common shares outstanding		76,140,807			76,042,511			73,306,703			72,556,699			66,174,618			65,481,470
Common units outstanding		5,872,570			5,938,205			5,819,130			5,702,922			6,231,221			6,847,966
Total shares and Operating Partnership units		82,013,377			81,980,716			79,125,833			78,259,621			72,405,839			72,329,436
Market Capitalization
Market value of common equity(2)	$	2,940,180		$	2,720,120		$	2,599,284		$	3,697,767		$	2,962,123		$	2,567,695
Liquidation value of preferred equity		686,637			686,637			686,750			686,750			686,750			686,750
Total debt at balance sheet carrying value		1,519,506			1,439,688			1,385,074			1,283,718			1,361,172			1,190,691
Total market capitalization including preferred equity and debt	$	5,146,323		$	4,846,445		$	4,671,108		$	5,668,235		$	5,010,045		$	4,445,136
Total debt/Total market capitalization including preferred equity and debt		29.5	%		29.7	%		29.7	%		22.6	%		27.2	%		26.8	%
Selected Balance Sheet Data
Investments in real estate (before depreciation)	$	3,283,874		$	3,155,062		$	3,051,180		$	2,905,275		$	2,816,258		$	2,602,166
Total assets		3,444,708			3,351,613			3,281,045			3,158,885			3,070,850			2,895,036
Total liabilities		1,773,344			1,705,537			1,705,969			1,548,110			1,623,801			1,444,294
Selected Operating Data
Total operating revenues from continuing operations	$	155,007		$	149,134		$	147,106		$	142,016		$	123,776		$	114,547
Total operating expenses from continuing operations		112,161			109,931			106,537			108,358			94,942			89,253
Interest expense from continuing operations		22,495			18,937			17,747			15,716			14,956			15,202
Net income		21,203			21,189			25,133			18,419			13,550			10,816
Net income (loss) available to common stockholders		10,271			10,295			13,793			7,484			3,728			2,319
Financial Ratios
EBITDA(3)	$	82,241		$	75,972		$	78,766		$	69,902		$	58,367		$	56,763
Adjusted EBITDA(4)	$	93,173		$	86,866		$	90,106		$	80,837		$	68,823		$	65,260
Cash interest expense(5)	$	16,695		$	21,398		$	17,439		$	20,116		$	14,691		$	20,093
Fixed charges(6)	$	29,721		$	34,505		$	30,323		$	32,619		$	27,163		$	30,737
Debt service coverage ratio(7)		5.6x			4.1x			5.2x			4.0x			4.7x			3.2x
Fixed charge coverage ratio(8)		3.1x			2.5x			3.0x			2.5x			2.5x			2.1x
Profitability measures
Net income (loss) per common share - basic	$	0.13		$	0.14		$	0.19		$	0.11		$	0.05		$	0.04
Net income (loss) per common share - diluted	$	0.13		$	0.14		$	0.19		$	0.10		$	0.05		$	0.03
Funds From Operations (FFO) per diluted share and unit(9)	$	0.71		$	0.70		$	0.75		$	0.68		$	0.58		$	0.57
Adjusted Funds From Operations (AFFO) per diluted share and unit(10)	$	0.51		$	0.53		$	0.56		$	0.56		$	0.41		$	0.38
Dividends per share and common unit	$	0.33		$	0.33		$	0.33		$	0.31		$	0.31		$	0.31
Diluted FFO payout ratio(11)		46.6	%		47.4	%		44.0	%		45.5	%		53.1	%		54.4	%
Diluted AFFO payout ratio(12)		64.7	%		62.3	%		58.9	%		55.4	%		75.6	%		81.6	%
Portfolio Statistics
Buildings		99			99			98			96			96			93
Properties		75			75			75			74			74			71
Net rentable square feet, excluding redevelopment space		11,854,886			11,784,573			11,387,102			11,244,657			10,977,945			10,795,795
Square feet held for redevelopment(13)		1,148,212			1,218,525			1,573,612			1,606,407			1,873,119			1,863,700
Occupancy at end of quarter(14)		94.8	%		95.1	%		94.9	%		95.2	%		95.2	%		94.7	%
Weighted average remaining lease term (years)(15)		7.5			7.6			7.3			7.3			7.4			7.7
Same store occupancy at end of quarter(14)(16)		94.7	%		95.0	%		95.4	%		95.2	%		95.2	%		94.7	%

(1) Financial information for prior periods has been adjusted for the retroactive application of the following new accounting guidance adopted by the Company effective January 1, 2009: FASB APB 14-1 “Accounting for Convertible Debt Instruments That May be Settled Upon Conversion (Including Partial Cash Settlement)” and Statement of Financial Accounting Standard No.160 “Noncontrolling Interests in Consolidated Financial Statements - An Amendment of ARB No. 51”.

(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 the operating partnership, including common units and vested and unvested long-term incentive units (including vested class C units), for shares of our common stock. Excludes shares issuable with respect to stock options that have been granted but have not yet been exercised, and also excludes shares issuable upon the redemption of unvested class C units and all shares potentially issuable upon exchange of our 4.125% exchangeable senior debentures due 2026 and 5.50% exchangeable senior debentures due 2029 or upon conversion of our series C and D cumulative convertible preferred stock.

(3) EBITDA is calculated as earnings before interest, taxes, 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 10.

(4) Adjusted EBITDA is EBITDA adjusted for preferred dividends and minority interests. For a discussion of Adjusted EBITDA, see page 28. For a reconciliation of net income available to common stockholders to Adjusted EBITDA, see page 10.

(5) Cash interest expense is interest expense per our statement of operations (including interest expense on discontinued operations) less amortization of debt discount and deferred financing fees and includes interest that we capitalized. For a reconciliation of GAAP interest expense to cash interest expense see page 10.

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

(7) Debt service coverage ratio is Adjusted EBITDA divided by cash interest expense.

(8) Fixed charge coverage ratio is Adjusted EBITDA divided by fixed charges.

(9) For a definition and discussion of FFO see page 28. For a reconciliation of net income available to common stockholders to FFO, see page 9.

(10) For a definition and discussion of AFFO, see page 28. For a reconciliation of FFO to AFFO, see page 9.

(11) Diluted FFO payout ratio is dividends declared per common share and unit divided by diluted FFO per share and unit.

(12) Diluted AFFO payout ratio is dividends declared per common share and unit divided by diluted AFFO per share and unit.

(13) Redevelopment space requires significant capital investment in order to develop data center facilities that are ready for use. Most often this is shell space. However, in certain circumstances this may include partially built datacenter space that was not completed by previous ownership and requires a large capital investment in order to build out the space.

(14) Occupancy and same store occupancy excludes space held for redevelopment.

(15) Average remaining lease term excludes renewal options, weighted by net rentable square feet.

(16) Same store properties were acquired before December 31, 2007.

Page 6

DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Consolidated Balance Sheets⁽¹⁾

(Dollars in thousands, except share data)

	June 30, 2009			December 31, 2008
	(unaudited)
ASSETS
Investments in real estate
Land	$	341,719		$	316,318
Acquired ground leases		2,742			2,733
Buildings and improvements		2,666,148			2,467,830
Tenant improvements		264,927			255,818
Investments in real estate		3,275,536			3,042,699
Accumulated depreciation and amortization		(378,523	)		(302,960	)
Net investments in properties		2,897,013			2,739,739
Investment in unconsolidated joint venture		8,338			8,481
Net investments in real estate		2,905,351			2,748,220
Cash and cash equivalents		69,316			73,334
Accounts and other receivables, net		40,195			39,108
Deferred rent		122,823			99,957
Acquired above market leases, net		28,503			31,352
Acquired in place lease value and deferred leasing costs, net		215,597			222,389
Deferred financing costs, net		21,938			16,275
Restricted cash		30,676			45,470
Other assets		10,309			4,940
Total Assets	$	3,444,708		$	3,281,045
LIABILITIES AND EQUITY
Revolving credit facility	$	32,668		$	138,579
Unsecured senior notes		83,000			58,000
Mortgage loans		973,604			1,026,594
4.125% exchangeable senior debentures due 2026		163,834			161,901
5.50% exchangeable senior debentures due 2029		266,400			—
Accounts payable and other accrued liabilities		127,279			171,176
Accrued dividends and distributions		—			26,092
Acquired below market leases, net		69,840			76,660
Security deposits and prepaid rents		56,719			46,967
Total Liabilities		1,773,344			1,705,969
Commitments and contingencies		—			—
EQUITY:
Stockholders’ equity:
Preferred Stock: $0.01 par value, 30,000,000 authorized:
Series A Cumulative Redeemable Preferred Stock, 8.50%, $103,500,000 liquidation preference ($25.00 per share), 4,140,000 issued and outstanding		99,297			99,297
Series B Cumulative Redeemable Preferred Stock, 7.875%, $63,250,000 liquidation preference ($25.00 per share), 2,530,000 issued and outstanding		60,502			60,502
Series C Cumulative Convertible Preferred Stock, 4.375%, $175,000,000 liquidation preference ($25.00 per share), 6,999,995 issued and outstanding		169,067			169,068
Series D Cumulative Convertible Preferred Stock, 5.500%, $345,000,000 liquidation preference ($25.00 per share), 13,795,500 issued and outstanding		333,472			333,581
Common Stock; $0.01 par value: 125,000,000 authorized, 76,140,807 and 73,306,703 shares issued and outstanding as of June 30, 2009 and December 31, 2008, respectively		759			732
Additional paid-in capital		1,145,807			1,057,990
Dividends in excess of earnings		(196,500	)		(167,746	)
Accumulated other comprehensive income, net		(27,456	)		(49,503	)
Total stockholders’ equity		1,584,948			1,503,921
Noncontrolling interests:
Noncontrolling interest in operating partnership		65,600			66,797
Noncontrolling interest in consolidated joint venture		20,816			4,358
Total noncontrolling interests		86,416			71,155
Total Equity		1,671,364			1,575,076
Total Liabilities and Equity	$	3,444,708		$	3,281,045

(1) Results for all periods have been adjusted for the retroactive application of the new accounting pronouncements adopted by the Company on January 1, 2009 (see footnote 1 on page 6).

Page 7

DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Consolidated Quarterly Statements of Operations⁽¹⁾

(unaudited and in thousands, except share data)

	Three Months Ended
	30-Jun-09			31-Mar-09			31-Dec-08			30-Sep-08			30-Jun-08			31-Mar-08
Rental	$	125,380		$	118,089		$	111,398		$	102,449		$	97,966		$	92,746
Tenant reimbursements		29,544			31,027			30,136			29,882			25,698			21,787
Other		83			18			5,572			9,685			112			14
Total operating revenues		155,007			149,134			147,106			142,016			123,776			114,547
Rental property operating and maintenance		42,301			42,573			43,664			39,859			35,943			31,681
Property taxes		9,149			9,211			5,767			8,689			8,522			8,124
Insurance		1,488			1,456			1,333			1,252			1,198			1,205
Depreciation and amortization		49,183			46,304			47,086			46,548			39,591			39,153
General and administrative		10,040			10,102			8,661			11,261			9,686			8,783
Other		—			285			26			749			2			307
Total operating expenses		112,161			109,931			106,537			108,358			94,942			89,253
Operating income		42,846			39,203			40,569			33,658			28,834			25,294
Equity in earnings of unconsolidated joint venture		741			1,116			1,860			178			173			158
Interest and other income		403			243			591			453			407			655
Interest expense		(22,495	)		(18,937	)		(17,747	)		(15,716	)		(14,956	)		(15,202	)
Tax expense		(292	)		(436	)		(140	)		(154	)		(726	)		(89	)
Loss from early extinguishment of debt		—			—			—			—			(182	)		—
Net Income		21,203			21,189			25,133			18,419			13,550			10,816
Net Income attributable to noncontrolling interest		(831	)		(793	)		(1,238	)		(833	)		(354	)		(239	)
Net Income Attributable to Digital Realty Trust, Inc.		20,372			20,396			23,895			17,586			13,196			10,577
Preferred stock dividends		(10,101	)		(10,101	)		(10,102	)		(10,102	)		(10,102	)		(8,258	)
Net income available to common stockholders	$	10,271		$	10,295		$	13,793		$	7,484		$	3,094		$	2,319
Net income per share available to common stockholders - basic	$	0.13		$	0.14		$	0.19		$	0.11		$	0.05		$	0.04
Net income per share available to common stockholders - diluted	$	0.13		$	0.14		$	0.19		$	0.10		$	0.05		$	0.03
Weighted-average shares outstanding - basic		76,121,380			74,703,755			73,011,453			70,916,019			65,889,122			65,431,586
Weighted-average shares outstanding - diluted		76,851,202			74,895,168			73,205,628			73,338,871			68,068,600			67,142,783
Weighted-average fully diluted shares and units		82,728,389			80,741,438			79,289,939			79,376,123			74,533,055			73,886,689

(1) Results for all periods have been adjusted for the retroactive application of the new accounting pronouncements adopted by the Company on January 1, 2009 (see footnote 1 on page 6).

Page 8

DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Funds From Operations (FFO)⁽¹⁾

(unaudited and in thousands except per share data)

	Three Months Ended
	30-Jun-09			31-Mar-09			31-Dec-08			30-Sep-08			30-Jun-08			31-Mar-08
Reconciliation of net income available to common stockholders to FFO (Note):
Net income available to common stockholders	$	10,271		$	10,295		$	13,793		$	7,484		$	3,094		$	2,319
Adjustments:
Net Income attributable to noncontrolling interest		831			793			1,238			833			354			239
Real estate related depreciation and amortization(2)		48,900			46,087			46,890			46,359			39,414			38,994
Real estate related depreciation and amortization related to investment in unconsolidated joint venture		858			646			(286	)		859			872			894
FFO available to common stockholders and unitholders	$	60,860		$	57,821		$	61,635		$	55,535		$	43,734		$	42,446
FFO per share and unit:
Basic	$	0.74		$	0.72		$	0.78		$	0.72		$	0.60		$	0.59
Diluted(3)	$	0.71		$	0.70		$	0.75		$	0.68		$	0.58		$	0.57
Weighted-average shares and units outstanding - basic		81,999			80,550			79,096			76,953			72,354			72,175
Weighted-average shares and units outstanding - diluted(3)		99,461			92,571			91,123			91,209			86,366			82,524
(1)     Results for all periods have been adjusted for the retroactive application of the new accounting pronouncements adopted by the Company on January 1, 2009 (see footnote 1 on page 6). (2)     Real estate depreciation and amortization was computed as follows:
Depreciation and amortization per income statement	$	49,183		$	46,304		$	47,086		$	46,548		$	39,591		$	39,153
Non-real estate depreciation		(283	)		(217	)		(196	)		(189	)		(177	)		(159	)
	$	48,900		$	46,087		$	46,890		$	46,359		$	39,414		$	38,994
(3)     At June 30, 2009, we had 6,999,955 series C convertible preferred shares and 13,795,500 series D convertible preferred shares outstanding that were convertible into 3,614,777 common shares and 8,215,221 common shares, respectively. In addition, we had a balance of $266,400 of 5.50% exchangeable senior debentures that were exchangeable for 4,901,812 common shares on a weighted average basis for the three months ended June 30, 2009. See below for calculations of diluted FFO available to common stockholders and unitholders and weighted average common stock and units outstanding.
FFO available to common stockholders and unitholders	$	60,860		$	57,821		$	61,635		$	55,535		$	43,734		$	42,446
Add: Series C convertible preferred dividends		1,914			1,914			1,914			1,914			1,914			1,914
Add: Series D convertible preferred dividends		4,742			4,742			4,744			4,744			4,744			2,899
Add: 5.50% exchangeable senior debentures interest		2,890			—			—			—			—			—
FFO available to common stockholders and unitholders — diluted	$	70,406		$	64,477		$	68,293		$	62,193		$	50,392		$	47,259
Weighted average common stock and units outstanding		81,999			80,550			79,096			76,953			72,354			72,175
Add: Effect of dilutive securities (excluding series C and D convertible preferred stock)		730			191			194			2,423			2,179			1,712
Add: Effect of dilutive series C convertible preferred stock		3,615			3,615			3,615			3,615			3,615			3,615
Add: Effect of dilutive series D convertible preferred stock		8,215			8,215			8,218			8,218			8,218			5,022
Add: Effect of dilutive 5.50% exchangeable senior debentures		4,902			—			—			—			—			—
Weighted average common stock and units outstanding — diluted		99,461			92,571			91,123			91,209			86,366			82,524

Note: For a definition and discussion of FFO, see page 28.

Adjusted Funds From Operations (AFFO)⁽¹⁾

(unaudited and in thousands)

	Three Months Ended
	30-Jun-09			31-Mar-09			31-Dec-08			30-Sep-08			30-Jun-08			31-Mar-08
Reconciliation of FFO to AFFO:
Funds from operations available to common stockholders and unitholders (FFO)	$	60,860		$	57,821		$	61,635		$	55,535		$	43,734		$	42,446
Adjustments:
Non-real estate depreciation		283			217			196			189			177			159
Amortization of deferred financing costs		1,896			1,662			1,599			1,524			1,411			1,398
Amortization of debt discount		974			959			943			927			911			896
Non-cash compensation		2,130			1,520			1,663			3,174			1,582			1,220
Loss from early extinguishment of debt		—			—			—			—			182			—
Straight line rents		(11,089	)		(11,308	)		(11,036	)		(8,301	)		(8,899	)		(7,771	)
Above and below market rent amortization		(2,118	)		(2,139	)		(1,971	)		(2,081	)		(2,525	)		(2,685	)
Capitalized leasing compensation		(1,414	)		(1,271	)		(1,008	)		(1,009	)		(974	)		(1,045	)
Recurring capital expenditures and tenant improvements		(7,161	)		(496	)		(3,031	)		(1,730	)		(3,699	)		(2,868	)
Capitalized leasing commissions		(2,467	)		(4,283	)		(4,349	)		(3,759	)		(1,259	)		(3,936	)
AFFO available to common stockholders and unitholders	$	41,894		$	42,682		$	44,641		$	44,469		$	30,641		$	27,814

(1) Results for all periods have been adjusted for the retroactive application of the new accounting pronouncements adopted by the Company on January 1, 2009 (see footnote 1 on page 6).

Note: For a definition and discussion of AFFO, see page 28. For a reconciliation of net income available to common stockholders to FFO, see above table.

Page 9

DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Reconciliation of Earnings before interest, taxes, depreciation and amortization (EBITDA)⁽¹⁾⁽²⁾

(unaudited and in thousands)

	Three Months Ended
	30-Jun-09			31-Mar-09			31-Dec-08			30-Sep-08			30-Jun-08			31-Mar-08
Net income available to common stockholders	$	10,271		$	10,295		$	13,793		$	7,484		$	3,094		$	2,319
Interest		22,495			18,937			17,747			15,716			14,956			15,202
Taxes		292			436			140			154			726			89
Depreciation and amortization		49,183			46,304			47,086			46,548			39,591			39,153
EBITDA		82,241			75,972			78,766			69,902			58,367			56,763
Noncontrolling interest		831			793			1,238			833			354			239
Preferred stock dividends		10,101			10,101			10,102			10,102			10,102			8,258
Adjusted EBITDA	$	93,173		$	86,866		$	90,106		$	80,837		$	68,823		$	65,260
(1)     For the definition and discussion of EBITDA and Adjusted EBITDA, see page 28. (2)     Results for all periods have been adjusted for the retroactive application of the new accounting pronouncements adopted by the Company on January 1, 2009 (see footnote 1 on page 6).
Financial Ratios(1)
(unaudited and in thousands)
	30-Jun-09			31-Mar-09			31-Dec-08			30-Sep-08			30-Jun-08			31-Mar-08
Total GAAP interest expense		22,495			18,937			17,747			15,716			14,956			15,202
Capitalized interest		2,147			3,072			4,305			4,630			4,708			4,708
Change in accrued interest and other noncash amounts		(7,947	)		(611	)		(4,613	)		(230	)		(4,973	)		183
Cash interest expense(a)		16,695			21,398			17,439			20,116			14,691			20,093
Scheduled debt principal payments and preferred dividends		13,026			13,107			12,884			12,503			12,472			10,644
Total fixed charges(b)		29,721			34,505			30,323			32,619			27,163			30,737
Debt service coverage ratio based on GAAP interest expense(c)		4.1x			4.6x			5.1x			5.1x			4.6x			4.3x
Debt service coverage ratio based on cash interest expense(c)		5.6x			4.1x			5.2x			4.0x			4.7x			3.2x
Fixed charge coverage ratio based on GAAP interest expense(d)		2.6x			2.7x			2.9x			2.9x			2.5x			2.5x
Fixed charge coverage ratio based on cash interest expense(d)		3.1x			2.5x			3.0x			2.5x			2.5x			2.1x
Debt to total market capitalization including debt and preferred equity(e)		29.5	%		29.7	%		29.7	%		22.6	%		27.2	%		26.8	%
Debt plus preferred stock to total market capitalization including debt and preferred equity(f)		42.9	%		43.9	%		44.4	%		34.8	%		40.9	%		42.2	%
Pretax income to interest expense(g)		1.9x			2.1x			2.4x			2.2x			1.9x			1.7x
Net Debt to Adjusted EBITDA(h)		3.9x			3.9x			3.6x			3.8x			4.9x			4.4x

(a) Cash interest expense is interest expense less amortization of debt discount and deferred financing fees and includes interest that we capitalized. We consider cash interest expense to be a useful measure of interest as it excludes non-cash based interest expense.

(b) For a definition of Fixed Charges see page 6.

(c) Adjusted EBITDA divided by interest expense.

(d) Adjusted EBITDA divided by fixed charges. Fixed charges include interest expense as per (a) above and scheduled debt principal payments and preferred dividends.

(e) Mortgage debt and other loans divided by mortgage debt and other loans plus the liquidation value of preferred stock and the market value of outstanding common stock and operating partnership units, assuming the redemption of operating partnership units for shares of our common stock.

(f) Same as (e), except numerator includes preferred stock.

(g) Calculated as income including gain on sale of assets before minority interest and interest divided by GAAP interest expense.

(h) Calculated as total debt at balance sheet carrying value (see page 6) less cash and cash equivalents divided by Adjusted EBITDA multiplied by four.

(1) Results for all periods have been adjusted for the retroactive application of the new accounting pronouncements adopted by the Company on January 1, 2009 (see footnote 1 on page 6).

Page 10

DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Net Operating Income (NOI) and Run-rate NOI

For the three months ended June 30, 2009

(unaudited and in thousands)

Rental revenues	$	125,380
Tenant reimbursements		29,544
Rental property operating and maintenance		(42,301	)
Property taxes		(9,149	)
Insurance		(1,488	)
NOI	$	101,986
Actual results of properties acquired during the quarter:
Rental revenues		—
Tenant reimbursements		—
Rental property operating and maintenance		—
Property taxes		—
Insurance		—
Projected full quarter of actual results of properties acquired during the quarter:
Rental revenues		—
Tenant reimbursements		—
Rental property operating and maintenance		—
Property taxes		—
Insurance		—
Run-rate NOI	$	101,986
Reconciliation of net income available to common stockholders to NOI
Net income available to common stockholders	$	10,271
Other revenues		(83	)
Interest expense		22,495
Depreciation and amortization		49,183
General and administrative expenses		10,040
Tax expense		292
Equity in earnings of unconsolidated joint venture		(741	)
Interest and other income		(403	)
Net Income attributable to noncontrolling interest		831
Preferred stock dividends		10,101
NOI	$	101,986

Note: For a definition and discussion of NOI and Run-rate NOI, see page 28.

Page 11

DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Same Store and New Properties Consolidated Quarterly Statements of Operations⁽¹⁾

(unaudited and in thousands)

							Three Months Ended
	30-Jun-09			31-Mar-09			31-Dec-08			30-Sep-08			30-Jun-08			31-Mar-08
Same store(2)
Operating Revenues:
Rental	$	122,415		$	115,993		$	110,692		$	101,575		$	97,892		$	92,746
Tenant reimbursements		28,444			29,919			28,507			29,878			25,698			21,787
Other		83			18			5,572			9,685			112			14
Total operating revenues		150,942			145,930			144,771			141,138			123,702			114,547
Operating Expenses:
Rental property operating and maintenance		40,435			41,094			41,764			39,802			35,931			31,624
Property taxes		8,986			9,107			5,723			8,650			8,521			8,124
Insurance		1,463			1,439			1,325			1,246			1,198			1,205
Depreciation and amortization		48,092			45,460			46,794			46,227			39,591			39,153
General and administrative(3)		10,040			10,102			8,661			11,261			9,686			8,783
Other		—			285			26			749			2			307
Total operating expenses		109,016			107,487			104,293			107,935			94,929			89,196
Operating income		41,926			38,443			40,478			33,203			28,773			25,351
Other Income (Expenses):
Equity in earnings of unconsolidated joint venture		741			1,116			1,860			178			173			158
Interest and other income		402			242			589			452			405			655
Interest expense(4)		(22,459	)		(18,937	)		(17,747	)		(15,716	)		(14,954	)		(15,202	)
Tax expense		(314	)		(434	)		(140	)		(154	)		(726	)		(89	)
Loss from early extinguishment of debt		—			—			—			—			(182	)		—
Net Income	$	20,296		$	20,430		$	25,040		$	17,963		$	13,489		$	10,873
New properties(2)
Operating Revenues:
Rental	$	2,965		$	2,096		$	706		$	874		$	74		$	—
Tenant reimbursements		1,100			1,108			1,629			4			—			—
Other		—			—			—			—			—			—
Total operating revenues		4,065			3,204			2,335			878			74			—
Operating Expenses:
Rental property operating and maintenance		1,866			1,479			1,900			57			12			57
Property taxes		163			104			44			39			1			—
Insurance		25			17			8			6			—			—
Depreciation and amortization		1,091			844			292			321			—			—
General and administrative(3)		—			—			—			—			—			—
Other		—			—			—			—			—			—
Total operating expenses		3,145			2,444			2,244			423			13			57
Operating income		920			760			91			455			61			(57	)
Other Income (Expenses):
Equity in earnings of unconsolidated joint venture		—			—			—			—			—			—
Interest and other income		1			1			2			1			2			—
Interest expense(4)		(36	)		—			—			—			(2	)		—
Income tax expense		22			(2	)		—			—			—			—
Loss from early extinguishment of debt		—			—			—			—			—			—
Net Income	$	907		$	759		$	93		$	456		$	61		$	(57	)

(1) Results for all periods have been adjusted for the retroactive application of the new accounting pronouncements adopted by the Company on January 1, 2009 (see footnote 1 on page 6).

(2) Same store properties are properties that were acquired on or before December 31, 2007 and new properties are properties acquired after December 31, 2007.

(3) General and administrative expenses are included entirely in same store as they are not allocable to specific properties.

(4) Interest expense on our revolving credit facility is allocated entirely to same store properties.

Page 12

DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Same Store Operating Trend Summary⁽¹⁾

(unaudited and in thousands, except share data)

	Three Months Ended
	30-Jun-09			31-Mar-09			Percentage Change		30-Jun-08			Percentage Change
Same store(2)
Rental(3)	$	122,415		$	115,993		5.5	%	$	97,892		25.1	%
Tenant reimbursements		28,444			29,919		(4.9	)%		25,698		10.7	%
		150,859			145,912		3.4	%		123,590		22.1	%
Rental property operating and maintenance		40,435			41,094		(1.6	)%		35,931		12.5	%
Property taxes		8,986			9,107		(1.3	)%		8,521		5.5	%
Insurance		1,463			1,439		1.7	%		1,198		22.1	%
		50,884			51,640		(1.5	)%		45,650		11.5	%
Net Operating Income(4)	$	99,975		$	94,272		6.0	%	$	77,940		28.3	%
Same store occupancy at end of quarter		94.7	%		95.0	%				95.2	%

(1) Results for all periods have been adjusted for the retroactive application of the new accounting pronouncements adopted by the Company on January 1, 2009. (See footnote 1 on page 6).

(2) Same store properties were acquired on or before December 31, 2007.

(3) For the periods presented, same store straight-line rent was $10,479, $11,020 and $8,899, respectively, and non-cash adjustments related to FAS 141 were $2,092, $2,115 and $2,525, respectively.

(4) For a definition and discussion of Net Operating Income, see page 28.

Page 13

DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Consolidated Debt Analysis

(unaudited, in thousands)

	Maturity Date	Principal Balance as of June 30, 2009			% of Debt		Interest Rate as of June 30, 2009		Interest Rate as of June 30, 2009 including swaps
Unhedged Floating Rate Debt
Revolving credit facility	August 31, 2012(1)		32,668		2.2	%	1.55	%	—
		$	32,668		2.2	%
Fixed Rate Mortgage Debt and Hedged Floating Rate Debt
Secured Term Debt	November 11, 2014		145,288		9.7	%	5.65	%	—
3 Corporate Place	August 1, 2013(1)		80,000		5.3	%	6.72	%	—
200 Paul Avenue 1-4	October 8, 2015		78,574		5.2	%	5.74	%	—
2045 & 2055 LaFayette Street	February 6, 2017		67,664		4.5	%	5.93	%	—
Mundells Roundabout	November 30, 2013		70,503		4.6	%	1.95	%	4.18	%
600 West Seventh Street	March 15, 2016		56,179		3.7	%	5.80	%	—
2323 Bryan Street	November 6, 2009		54,629		3.6	%	6.04	%	—
34551 Ardenwood Boulevard 1-4	November 11, 2016		55,000		3.6	%	5.95	%	—
1100 Space Park Drive	December 11, 2016		55,000		3.6	%	5.89	%	—
150 South First Street	February 6, 2017		53,044		3.5	%	6.30	%	—
114 Rue Ambroise Croizat	January 18, 2012		44,528		2.9	%	2.54	%	5.13	%
1500 Space Park Drive	October 5, 2013		42,806		2.8	%	6.15	%	—
2334 Lundy Place	November 11, 2016		40,000		2.6	%	5.96	%	—
Unit 9, Blanchardstown Corporate Park	January 18, 2012		38,284		2.5	%	2.54	%	5.35	%
6 Braham Street	April 10, 2011		21,566		1.4	%	2.00	%	5.84	%
1201 Comstock Street	June 24, 2013(1)		18,100		1.2	%	3.81	%	—
Paul van Vlissingenstraat 16	July 18, 2013		15,028		1.0	%	2.79	%	5.58	%
Chemin de l’Epinglier 2	July 18, 2013		10,914		0.7	%	2.69	%	5.57	%
1125 Energy Park Drive	March 1, 2032		9,270		0.6	%	7.62	%	—
Gyroscoopweg 2E-2F	October 18, 2013		9,567		0.6	%	2.69	%	5.49	%
731 East Trade Street	July 1, 2020		5,419		0.4	%	8.22	%	—
		$	971,363		64.0	%
4.125 % exchangeable senior debentures due 2026	August 15, 2026		172,500		11.4	%	6.75	%	—
5.50% exchangeable senior debentures due 2029	April 15, 2029		266,400		17.5	%	5.50	%
Unsecured senior notes — Series A	July 24, 2011		25,000		1.6	%	7.00	%	—
Unsecured senior notes — Series B	November 5, 2013		33,000		2.2	%	9.32	%	—
Unsecured senior notes — Series C	January 6, 2016		25,000		1.6	%	9.68	%	—
Total Fixed Rate Debt Including Swaps		$	1,493,263		98.3	%
Unamortized discount on 4.125% exchangeable senior debentures due 2026			(8,666	)	(0.6	)%
Unamortized Loan premium — 1125 Energy Park Drive, 731 East Trade Street and 1500 Space Park Drive mortgages			2,241		0.1	%
Total Consolidated Debt		$	1,519,506		100.0	%
Weighted average cost of debt (including interest rate swaps)									5.89	%

(1) Assumes all extensions will be exercised.

Credit Facility

(in thousands)

	Maximum Available as of June 30, 2009		Available as of June 30, 2009		Drawn as of June 30, 2009
Revolving Credit Facility	$	720,000	$	673,500	$	32,668

Page 14

DIGITAL REALTY TRUST, INC.

Second Quarter 2009

REVOLVING CREDIT FACILITY COMMITMENTS

(Dollar amounts in thousands)

	Lender / Issuing Bank	Amount Committed
1	Citicorp North America, Inc.	$	85,000
2	KeyBank, N.A.		85,000
3	Bank of America, N.A.(1)		70,000
4	The Royal Bank of Scotland PlC		70,000
5	Deutsche Bank		70,000
6	Merrill Lynch Capital Corporation(1)		60,000
7	Sovereign Bank		50,000
8	Raymond James Bank, FSB		50,000
9	Royal Bank of Canada, New York Branch		40,000
10	Credit Suisse, Cayman Islands Branch		25,000
11	Société Générale		25,000
12	UBS Loan Finance LLC		25,000
13	Allied Irish Banks, p.l.c.		15,000
14	Chang Hwa Commercial Bank, Ltd., New York Branch		15,000
15	Mega International Commercial Bank Co., Ltd Los Angeles Branch		15,000
16	Comerica Bank		10,000
17	First Commercial Bank New York Agency		10,000
	Total Commitments - Revolving Credit Facility	$	720,000

(1) On January 1, 2009, Bank of America Corporation acquired Merrill Lynch & Co., Inc.

Note: The revolving credit facility has a $485.0 million sub-facility for multi-currency advances.

Page 15

DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Debt Maturities

(unaudited, in thousands)

Property	2009		2010		2011		2012		2013		Thereafter		Total
Revolving credit facility(1)	$	—	$	—	$	—	$	32,668	$	—	$	—	$	32,668
Secured Term Debt(2)		1,210		2,550		2,700		2,836		3,026		132,966		145,288
3 Corporate Place(1)		—		—		—		—		80,000		—		80,000
200 Paul Avenue 1-4		771		1,624		1,721		1,812		1,932		70,714		78,574
2045 & 2055 LaFayette Street		393		835		886		941		999		63,610		67,664
600 West Seventh Street		654		1,367		1,448		1,535		1,626		49,549		56,179
2323 Bryan Street(3)		54,629		—		—		—		—		—		54,629
1100 Space Park Drive		56		648		687		720		774		52,115		55,000
34551 Ardenwood Boulevard 1-4		55		639		678		711		766		52,151		55,000
150 South First Street		284		596		635		677		723		50,129		53,044
114 Rue Ambroise Croizat		346		691		691		42,800		—		—		44,528
1500 Space Park Drive		923		1,942		2,067		2,192		35,682		—		42,806
Mundells Roundabout		—		—		—		—		70,503		—		70,503
2334 Lundy Place		40		464		493		517		556		37,930		40,000
Unit 9, Blanchardstown Corporate Park		297		594		594		36,799		—		—		38,284
Unsecured senior notes		—		—		25,000		—		33,000		25,000		83,000
6 Braham Street		329		659		20,578		—		—		—		21,566
1201 Comstock Street(1)		363		762		812		867		15,296		—		18,100
Paul van Vlissingenstraat 16		118		236		236		236		14,202		—		15,028
Chemin de l’Epinglier 2		85		170		170		170		10,319		—		10,914
Gyroscoopweg 2E-2F		75		150		150		150		9,042		—		9,567
1125 Energy Park Drive		66		143		154		165		180		8,562		9,270
731 East Trade Street		104		235		274		297		323		4,186		5,419
4.125 % exchangeable senior debentures due 2026(4)		—		—		172,500		—		—		—		172,500
5.50% exchangeable senior debentures due 2029(5)		—		—		—		—		—		266,400		266,400
Total	$	60,798	$	14,305	$	232,474	$	126,093	$	278,949	$	813,312	$	1,525,931
Weighted Average Term to Initial Maturity(4)(5)				4.7 Years
Weighted Average Term to Initial Maturity (assuming exercise of extension options)(4)(5)				4.8 Years

(1) Assumes all extensions will be exercised.

(2) This amount represents six mortgage loans secured by our interests in 36 NE 2nd Street, 3300 East Birch Street, 100 & 200 Quannapowitt Parkway, 300 Boulevard East, 4849 Alpha Road, and 11830 Webb Chapel Road. Each of these loans is cross-collateralized by the six properties.

(3) Loan is to be paid in full in August 2009.

(4) Assumes maturity of 4.125% exchangeable senior debentures due 2026 at first redemption date in August 2011.

(5) Assumes maturity of 5.50% exchangeable senior debentures due 2029 at first redemption date in April 2014.

Note: Total excludes $2,241 of loan premiums and ($8,666) of debt discount on 4.125% exchangeable senior debentures due 2026.

Page 16

DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Portfolio Summary

As of June 30, 2009

	6/30/2009		3/31/2009
Number of Properties:
Domestic	61		61
International	14		14
	75	(1)	75	(1)
Number of Buildings:
Domestic	81		81
International	18		18
	99		99
Number of Markets:
Domestic	20		20
International	7		7
	27		27
Net Rentable Square Feet:
Domestic	10,673,413		10,603,100
International	1,181,473		1,181,473
	11,854,886		11,784,573
Redevelopment Square Feet:
Domestic	925,999		996,312
International	222,213		222,213
	1,148,212		1,218,525
Portfolio Occupancy(2)	94.8	%	95.1	%
Same Store Pool Occupancy(2)	94.7	%	95.0	%
Average Original Lease Term (years)	13.7		13.6
Average Remaining Lease Term (years)	7.5		7.6
Lease Expirations (through 2010)	8.2	%	9.6	%

(1) Excludes one property held as an investment in an unconsolidated joint venture and developable land.

(2) Occupancy excludes space held for redevelopment.

Page 17

DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Properties Acquired

For the three months ended June 30, 2009

Property	Metropolitan Area	Date Acquired	Purchase Price (in millions)		Net Rentable Square Footage of Property	Total Square Footage Held for Redevelopment	Percentage of Total Rentable Square Footage of Property Occupied
Loudoun Exchange II(1)	Northern Virginia	May-09	$	20.3	—	—	—

(1) Represents developable land which is not included in our operating property count.

Page 18

DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Occupancy Analysis

As of June 30, 2009

(Dollar amounts in thousands)

					Annualized Rent ($000)(1)	Occupancy(2)								Net Rentable Square Feet as a % of				Annualized Rent as a % of
Property	Acquisition date	Metropolitan Area	Net Rentable Square Feet	Redevelopment Space		As of 06/30/09		As of 03/31/09		As of 12/31/08		As of 09/30/08		Property Type		Total Portfolio		Property Type		Total Portfolio
Internet Gateway Datacenters
350 East Cermak Road	May-05	Chicago	1,075,851	57,888	46,532	90.6	%	94.0	%	96.0	%	97.0	%	28.1	%	9.1	%	26.4	%	10.5	%
200 Paul Avenue 1-4	Nov-04	San Francisco	436,299	91,381	23,059	99.9	%	95.1	%	100.0	%	100.0	%	11.4		3.7		13.1		5.2
120 E. Van Buren Street	Jul-06	Phoenix	249,425	38,089	19,291	91.7	%	91.7	%	91.7	%	93.8	%	6.5		2.1		11.0		4.4
600 West Seventh Street	May-04	Los Angeles	482,089	7,633	16,668	94.1	%	94.6	%	94.6	%	94.6	%	12.6		4.1		9.5		3.8
111 Eighth Avenue(3)	Mar-07	New York	116,843	—	14,980	100.0	%	100.0	%	100.0	%	100.0	%	3.1		1.0		8.5		3.4
2323 Bryan Street	Jan-02	Dallas	457,217	19,890	14,047	76.4	%	77.1	%	77.0	%	77.3	%	11.9		3.8		8.0		3.2
114 Rue Ambroise Croizat	Dec-06	Paris, France	261,317	90,829	13,740	99.3	%	99.1	%	95.4	%	100.0	%	6.8		2.2		7.8		3.1
1100 Space Park Drive	Nov-04	Silicon Valley	165,297	—	7,595	100.0	%	99.1	%	99.1	%	99.1	%	4.3		1.4		4.3		1.7
36 NE 2nd Street	Jan-02	Miami	162,140	—	4,940	95.9	%	95.9	%	95.9	%	95.9	%	4.2		1.4		2.8		1.1
600-780 S. Federal	Sep-05	Chicago	161,547	—	4,670	69.4	%	69.4	%	81.9	%	78.5	%	4.2		1.4		2.6		1.1
900 Walnut Street	Aug-07	St Louis	112,266	—	3,703	97.3	%	93.5	%	93.5	%	93.5	%	2.9		0.9		2.1		0.8
6 Braham Street	Jul-02	London, England	63,233	—	3,655	100.0	%	100.0	%	100.0	%	100.0	%	1.7		0.5		2.1		0.8
125 North Myers	Aug-05	Charlotte	25,402	—	1,239	100.0	%	100.0	%	100.0	%	100.0	%	0.7		0.2		0.7		0.3
731 East Trade Street	Aug-05	Charlotte	40,879	—	1,200	100.0	%	100.0	%	100.0	%	100.0	%	1.1		0.3		0.7		0.3
113 North Myers	Aug-05	Charlotte	20,086	9,132	719	100.0	%	100.0	%	100.0	%	100.0	%	0.5		0.2		0.4		0.2
			3,829,891	314,842	176,038	91.7	%	92.0	%	93.4	%	94.0	%	100.0	%	32.3	%	100.0	%	39.9	%
Corporate Datacenters
43881 Devon Shafron Drive	Mar-07	Northern Virginia	179,100	900	17,321	99.0	%	83.5	%	100.0	%	79.1	%	2.7	%	1.5	%	7.3	%	3.9	%
300 Boulevard East	Nov-02	New York	311,950	—	13,559	100.0	%	100.0	%	100.0	%	100.0	%	4.6		2.6		5.7		3.1
3 Corporate Place	Dec-05	New York	276,162	769	13,447	93.7	%	89.5	%	89.5	%	89.5	%	4.1		2.3		5.7		3.1
833 Chestnut Street	Mar-05	Philadelphia	588,770	65,988	11,849	89.5	%	87.9	%	87.7	%	87.4	%	8.7		5.0		5.0		2.7
43791 Devon Shafron Drive	Mar-07	Northern Virginia	132,806	2,194	9,752	100.0	%	100.0	%	100.0	%	0.0	%	2.0		1.1		4.1		2.2
2440 Marsh Lane	Jan-03	Dallas	116,513	18,737	9,109	77.6	%	60.0	%	70.9	%	100.0	%	1.7		1.0		3.9		2.1
Clonshaugh Industrial Estate (Land)	Feb-06	Dublin, Ireland	124,500	—	8,930	100.0	%	100.0	%	100.0	%	100.0	%	1.9		1.0		3.8		2.0
Unit 9, Blanchardstown Corporate Park	Dec-06	Dublin, Ireland	120,000	—	8,519	86.2	%	95.0	%	87.3	%	93.3	%	1.8		1.0		3.6		1.9
1500 Space Park Drive	Sep-07	Silicon Valley	51,615	—	8,285	100.0	%	100.0	%	100.0	%	100.0	%	0.8		0.4		3.5		1.9
4025 Midway Road	Jan-06	Dallas	87,964	12,626	8,158	99.8	%	99.8	%	99.8	%	98.6	%	1.3		0.7		3.5		1.9
3011 Lafayette Street	Jan-07	Silicon Valley	90,780	—	7,581	100.0	%	100.0	%	100.0	%	100.0	%	1.4		0.8		3.2		1.7
2055 East Technology Circle	Oct-06	Phoenix	76,350	—	7,553	100.0	%	100.0	%	100.0	%	1.0	%	1.1		0.6		3.2		1.7
Mundells Roundabout	Apr-07	London, England	113,464	—	7,459	100.0	%	100.0	%	0.0	%	0.0	%	1.7		1.0		3.2		1.7
2045 & 2055 LaFayette Street	May-04	Silicon Valley	300,000	—	6,480	100.0	%	100.0	%	100.0	%	100.0	%	4.5		2.5		2.7		1.5
150 South First Street	Sep-04	Silicon Valley	179,761	—	5,999	100.0	%	100.0	%	100.0	%	97.7	%	2.7		1.5		2.5		1.4
11830 Webb Chapel Road	Aug-04	Dallas	365,647	—	5,962	95.0	%	95.0	%	95.0	%	96.6	%	5.3		3.1		2.5		1.4
14901 FAA Boulevard	Jun-06	Dallas	263,700	—	4,700	100.0	%	100.0	%	100.0	%	100.0	%	3.9		2.2		2.0		1.1
2334 Lundy Place	Dec-02	Silicon Valley	130,752	—	4,600	100.0	%	100.0	%	100.0	%	100.0	%	1.9		1.1		2.0		1.0
12001 North Freeway	Apr-06	Houston	280,483	20,222	3,756	75.4	%	95.5	%	98.5	%	98.5	%	4.1		2.4		1.6		0.9
375 Riverside Parkway	Jun-03	Atlanta	220,016	30,175	4,409	100.0	%	100.0	%	100.0	%	92.9	%	3.3		1.9		1.9		1.0
1525 Comstock Street	Sep-07	Silicon Valley	21,554	20,831	4,238	98.3	%	0.0	%	0.0	%	0.0	%	0.3		0.2		1.8		1.0
1201 Comstock Street	Jun-08	Silicon Valley	24,000	—	4,197	100.0	%	100.0	%	0.0	%	0.0	%	0.4		0.2		1.8		1.0
44470 Chilum Place	Feb-07	Northern Virginia	95,440	—	4,003	100.0	%	100.0	%	100.0	%	100.0	%	1.4		0.8		1.7		0.9
2401 Walsh Street	Jun-05	Silicon Valley	167,932	—	3,407	100.0	%	100.0	%	100.0	%	100.0	%	2.5		1.4		1.4		0.8
115 Second Avenue	Oct-05	Boston	66,730	—	3,337	100.0	%	100.0	%	100.0	%	100.0	%	1.0		0.6		1.4		0.8
8534 Concord Center Drive	Jun-05	Denver	85,660	—	3,265	100.0	%	100.0	%	100.0	%	100.0	%	1.3		0.7		1.4		0.7
Naritaweg 52	Dec-07	Amsterdam, Netherlands	63,260	—	2,684	100.0	%	100.0	%	100.0	%	100.0	%	0.9		0.5		1.1		0.6
21110 Ridgetop Circle	Jan-07	Northern Virginia	135,513	—	2,660	100.0	%	100.0	%	100.0	%	100.0	%	2.0		1.1		1.1		0.6
Cressex 1	Dec-07	London, England	50,847	—	2,538	90.6	%	87.2	%	0.0	%	0.0	%	0.8		0.4		1.1		0.6
1807 Michael Faraday Court	Oct-06	Northern Virginia	19,237	—	2,322	84.1	%	100.0	%	100.0	%	100.0	%	0.3		0.2		1.0		0.5
200 North Nash Street	Jun-05	Los Angeles	113,606	—	2,305	100.0	%	100.0	%	100.0	%	100.0	%	1.7		1.0		1.0		0.5
210 N Tucker Boulevard	Aug-07	St Louis	139,588	62,000	2,279	78.4	%	94.1	%	94.1	%	94.1	%	2.1		1.2		1.0		0.5
Paul van Vlissingenstraat 16	Aug-05	Amsterdam, Netherlands	77,472	35,000	2,214	58.8	%	58.8	%	58.8	%	58.8	%	1.2		0.7		0.9		0.5
2403 Walsh Street	Jun-05	Silicon Valley	103,940	—	2,109	100.0	%	100.0	%	100.0	%	100.0	%	1.5		0.9		0.9		0.5

Page 19

DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Occupancy Analysis

As of June 30, 2009

(Dollar amounts in thousands)

						Annualized Rent ($000)(1)		Occupancy(2)								Net Rentable Square Feet as a % of				Annualized Rent as a % of
Property	Acquisition date	Metropolitan Area	Net Rentable Square Feet		Redevelopment Space			As of 06/30/09		As of 03/31/09		As of 12/31/08		As of 09/30/08		Property Type		Total Portfolio		Property Type		Total Portfolio
8100 Boone Boulevard	Oct-06	Northern Virginia	17,015		—		1,894	100.0	%	100.0	%	100.0	%	100.0	%	0.3		0.1		0.8		0.4
4700 Old Ironsides Drive	Jun-05	Silicon Valley	90,139		—		1,829	100.0	%	100.0	%	100.0	%	100.0	%	1.3		0.8		0.8		0.4
4650 Old Ironsides Drive	Jun-05	Silicon Valley	84,383		—		1,712	100.0	%	100.0	%	100.0	%	100.0	%	1.3		0.7		0.7		0.4
7505 Mason King Court	Nov-08	Northern Virginia	109,650		—		1,692	100.0	%	100.0	%	0.0	%	NA		1.6		0.9		0.7		0.4
Manchester Technopark, Plot C1	Jun-08	Manchester, England	38,016		—		1,690	100.0	%	100.0	%	100.0	%	100.0	%	0.6		0.3		0.7		0.4
Chemin de l’Epinglier 2	Nov-05	Geneva, Switzerland	59,190		—		1,629	100.0	%	100.0	%	100.0	%	100.0	%	0.9		0.5		0.7		0.4
3015 Winona Avenue	Dec-04	Los Angeles	82,911		—		1,592	100.0	%	100.0	%	100.0	%	100.0	%	1.2		0.7		0.7		0.4
6800 Millcreek Drive	Apr-06	Toronto, Canada	83,758		—		1,530	100.0	%	100.0	%	100.0	%	100.0	%	1.2		0.7		0.7		0.3
3065 Gold Camp Drive	Oct-04	Sacramento	62,957		—		1,509	100.0	%	100.0	%	100.0	%	100.0	%	0.9		0.5		0.6		0.3
251 Exchange Place	Nov-05	Northern Virginia	70,982		—		1,502	100.0	%	100.0	%	100.0	%	100.0	%	1.1		0.6		0.6		0.3
Clonshaugh Industrial Estate	Feb-06	Dublin, Ireland	20,000		—		1,474	100.0	%	100.0	%	100.0	%	100.0	%	0.3		0.2		0.6		0.3
43831 Devon Shafron Drive	Mar-07	Northern Virginia	117,071		—		1,439	100.0	%	100.0	%	100.0	%	100.0	%	1.7		1.0		0.6		0.3
1125 Energy Park Drive	Mar-05	Minneapolis/St. Paul	112,827		—		1,437	100.0	%	100.0	%	100.0	%	100.0	%	1.7		1.0		0.6		0.3
3300 East Birch Street	Aug-03	Los Angeles	68,807		—		1,415	100.0	%	100.0	%	100.0	%	100.0	%	1.0		0.6		0.6		0.3
101 Aquila Way	Apr-06	Atlanta	313,581		—		1,411	100.0	%	100.0	%	100.0	%	100.0	%	4.7		2.6		0.6		0.3
Gyroscoopweg 2E-2F	Jul-06	Amsterdam, Netherlands	55,585		—		1,235	100.0	%	100.0	%	100.0	%	100.0	%	0.8		0.5		0.5		0.3
600 Winter Street	Sep-06	Boston	30,400		—		794	100.0	%	100.0	%	100.0	%	100.0	%	0.5		0.3		0.3		0.2
7620 Metro Center Drive	Dec-05	Austin	45,000		—		605	100.0	%	100.0	%	100.0	%	100.0	%	0.7		0.4		0.3		0.1
2300 NW 89th Place	Sep-06	Miami	64,174		—		598	100.0	%	100.0	%	100.0	%	100.0	%	1.0		0.5		0.3		0.1
1 St. Anne’s Boulevard	Dec-07	London, England	20,219		—		272	100.0	%	100.0	%	100.0	%	100.0	%	0.3		0.2		0.1		0.1
3 St. Anne’s Boulevard	Dec-07	London, England	—		96,384		—	0.0	%	0.0	%	0.0	%	0.0	%	—		—		—		—
7500 Metro Center Drive	Dec-05	Austin	—		74,962		—	0.0	%	0.0	%	0.0	%	0.0	%	—		—		—		—
365 S. Randolphville Road	Feb-08	New York	—		264,792		—	0.0	%	0.0	%	0.0	%	0.0	%	—		—		—		—
650 Randolph Road	Jun-08	New York	—		127,790		—	0.0	%	0.0	%	0.0	%	0.0	%	—		—		—		—
			6,721,777		833,370		236,245	95.8	%	96.1	%	95.1	%	95.2	%	100.0	%	56.7	%	100.0	%	53.7	%
Technology Manufacturing
34551 Ardenwood Boulevard 1-4	Jan-03	Silicon Valley	307,657		—		8,734	100.0	%	100.0	%	100.0	%	100.0	%	48.5	%	2.6	%	55.3	%	2.0	%
47700 Kato Road & 1055 Page Avenue	Sep-03	Silicon Valley	183,050		—		3,794	100.0	%	100.0	%	100.0	%	100.0	%	28.8		1.5		24.0		0.9
2010 East Centennial Circle	May-03	Phoenix	113,405		—		2,852	100.0	%	100.0	%	100.0	%	100.0	%	17.9		1.0		18.1		0.6
2 St. Anne’s Boulevard	Dec-07	London, England	30,612		—		412	100.0	%	100.0	%	100.0	%	100.0	%	4.8		0.3		2.6		0.1
			634,724		—		15,792	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	5.4	%	100.0	%	3.6	%
Technology Office
100 & 200 Quannapowitt Parkway	Jun-04	Boston	386,956		—		7,222	94.9	%	94.9	%	94.9	%	94.9	%	57.9	%	3.3	%	56.8	%	1.6	%
4849 Alpha Road	Apr-04	Dallas	125,538		—		2,856	100.0	%	100.0	%	100.0	%	100.0	%	18.8		1.0		22.4		0.6
1 Savvis Parkway	Aug-07	St Louis	156,000		—		2,644	100.0	%	100.0	%	100.0	%	100.0	%	23.3		1.3		20.8		0.6
			668,494		—		12,722	97.0	%	97.0	%	97.0	%	97.0	%	100.0	%	5.6	%	100.0	%	2.8	%
Portfolio Total/Weighted Average			11,854,886	(4)	1,148,212	$	440,797	94.8	%	95.1	%	94.9	%	95.2	%	100.0	%	100.0	%	100.0	%	100.0	%

(1) Annualized rent represents the monthly contractual rent under existing leases as of June 30, 2009 multiplied by 12.

(2) Occupancy excludes space held for redevelopment.

(3) Includes approximately 33,700 rentable square feet from a leasehold interest acquisition.

(4) Net Rentable Square Feet excludes 400,369 rentable square feet of space in a joint venture located at 2001 Sixth Avenue in Seattle, WA, which was 97.5% occupied as of June 30, 2009.

Page 20

DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Major Tenants

as of June 30, 2009

(Dollar amounts in thousands)

	Tenant	Number of Locations	Total Occupied Square Feet(1)	Percentage of Net Rentable Square Feet		Annualized Rent(2)		Percentage of Annualized Rent		Weighted Average Remaining Lease Term in Months
1	Savvis Communications	17	1,701,639	14.4	%	$	44,124	10.0	%	117
2	Qwest Communications International, Inc.	15	637,712	5.4	%	$	20,048	4.5	%	76
3	Equinix Operating Company, Inc.	4	565,297	4.8	%	$	17,820	4.0	%	98
4	NTT Communications Company	4	295,032	2.5	%	$	16,577	3.8	%	69
5	TelX Group, Inc.	10	101,581	0.9	%	$	14,060	3.2	%	209
6	JPMorgan Chase & Co.	3	149,935	1.3	%	$	13,914	3.2	%	126
7	Morgan Stanley	2	92,451	0.8	%	$	13,420	3.1	%	55
8	AT & T	12	389,375	3.3	%	$	11,844	2.7	%	124
9	Facebook, Inc.	2	114,168	1.0	%	$	11,789	2.7	%	90
10	Yahoo! Inc.	2	110,847	0.9	%	$	9,515	2.2	%	100
11	eircom Limited	1	124,500	1.0	%	$	8,930	2.0	%	121
12	T-Systems North America, Inc.	3	82,610	0.7	%	$	8,826	2.0	%	54
13	Microsoft Corporation	2	313,485	2.6	%	$	7,983	1.8	%	73
14	HSBC Bank PLC	1	113,464	0.9	%	$	7,459	1.7	%	174
15	Comverse Technology, Inc.	1	367,033	3.1	%	$	7,222	1.6	%	19
16	Amazon	4	274,348	2.3	%	$	7,094	1.6	%	144
17	Horizon Data Center Solutions	2	52,077	0.4	%	$	6,810	1.5	%	90
18	Level 3 Communications, LLC(3)(4)	17	261,100	2.2	%	$	6,358	1.4	%	64
19	Amgen, Inc.	1	131,386	1.1	%	$	5,946	1.4	%	71
20	AboveNet, Inc.	14	135,147	1.1	%	$	5,872	1.3	%	120
	Total/Weighted Average		6,013,187	50.7	%	$	245,611	55.7	%	99

(1) Occupied square footage is defined as leases that commenced on or before June 30, 2009.

(2) Annualized rent represents the monthly contractual rent under existing leases as of June 30, 2009 multiplied by 12.

(3) Level 3 Communications includes Wiltel Communications & Broadwing Communications.

(4) Excludes 63,233 square feet of net rentable space in 6 Braham Street. This property is subleased by Level 3 Communications from Leslie & Godwin, a United Kingdom subsidiary of AON Corporation, through December 2009. Level 3 Communications has executed a lease that will commence upon expiration of the Leslie & Godwin lease and continue through December 2015. Leslie & Godwin remains liable to us for rents under its lease. Including the lease at 6 Braham Street, total occupied square feet and annualized rent would be 353,021 and $9,505, respectively.

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DIGITAL REALTY TRUST, INC.

Second Quarter 2009

UTILITY POWER CAPACITY⁽¹⁾

Top 15 Properties

	Property Name	Market	Capacity (MW)
1	Devon Shafron Drive (3 Buildings)	Northern Virginia	225
2	350 East Cermak Road	Chicago	100
3	1500 Space Park (3 Buildings)	Santa Clara	59
4	3 Corporate Place	New York	44
5	114 Rue Ambroise Croizat	Paris, France	40
6	2045 & 2055 LaFayette Street	Silicon Valley	40
7	44470 Chilum Place	Northern Virginia	36
8	150 South First Street	Silicon Valley	36
9	101 Aquila Way	Atlanta	30
10	365 South Randolphville Road	New York	26
11	14901 FAA Boulevard	Dallas	25
12	2401 Walsh Street	Silicon Valley	25
13	2403 Walsh Street	Silicon Valley	25
14	4700 Old Ironsides Drive	Silicon Valley	25
15	St. Anne’s Boulevard (3 Buildings)	London	25
	Total Potential Power Capacity - Top 15 Properties		761

(1) Utility Power Capacity is defined as the power that could potentially be provided by the utility company depending upon factors such as peak demand load at the property.

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DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Lease Expirations and Lease Distribution

Lease Expirations

As of June 30, 2009

(Dollar amounts in thousands)

Year	Number of Leases Expiring (1)	Square Footage of Expiring Leases	Percentage of Net Rentable Square Feet		Annualized Rent (2)		Percentage of Annualized Rent		Annualized Rent Per Occupied Square Foot		Annualized Rent Per Occupied Square Foot at Expiration		Annualized Rent at Expiration ($000)
Available		621,073	5.2	%		—	0.0	%
2009(3)	148	289,279	2.4	%		14,564	3.3	%	$	50.35		47.26		13,671
2010	96	682,828	5.8	%		24,342	5.5	%	$	35.65		36.43		24,875
2011	104	1,327,491	11.2	%		33,142	7.5	%	$	24.97		25.69		34,109
2012	89	150,744	1.3	%		14,843	3.4	%	$	98.46		105.68		15,931
2013	76	958,996	8.1	%		49,349	11.2	%	$	51.46		57.80		55,434
2014	63	809,895	6.8	%		39,517	9.0	%	$	48.79		57.15		46,283
2015	76	1,799,730	15.2	%		61,873	14.0	%	$	34.38		38.60		69,470
2016	51	811,531	6.8	%		27,469	6.2	%	$	33.85		39.30		31,889
2017	34	550,868	4.7	%		16,976	3.9	%	$	30.82		36.99		20,377
2018	47	579,575	4.9	%		26,050	5.9	%	$	44.95		61.90		35,873
Thereafter	129	3,272,876	27.6	%		132,672	30.1	%	$	40.54		54.62		178,768
Portfolio Total / Weighted Average	913	11,854,886	100.0	%	$	440,797	100.0	%	$	39.24	$	46.88	$	526,680

Lease Distribution

As of June 30, 2009

(Dollar amounts in thousands)

Square Feet Under Lease	Number of Leases	Percentage of All Leases		Total Net Rentable Square Feet	Percentage of Net Rentable Square Feet		Annualized Rent (2)		Percentage of Annualized Rent
Available				621,073	5.2	%		—	—
2,500 or less	536	58.7	%	290,559	2.4	%		40,380	9.2	%
2,501 - 10,000	177	19.4	%	987,824	8.3	%		61,938	14.0	%
10,001 - 20,000	68	7.4	%	1,252,037	10.6	%		52,272	11.9	%
20,001 - 40,000	59	6.5	%	1,773,900	15.0	%		88,646	20.1	%
40,001 - 100,000	45	4.9	%	2,867,712	24.2	%		100,806	22.9	%
Greater than 100,000	28	3.1	%	4,061,781	34.3	%		96,755	21.9	%
Portfolio Total	913	100.0	%	11,854,886	100.0	%	$	440,797	100.0	%

(1) Includes license and similar agreements that upon expiration will be automatically renewed, mostly on a month-to-month basis.

(2) Annualized rent represents the monthly contractual rent under existing leases as of June 30, 2009 multiplied by 12.

(3) Includes 63,233 square feet of net rentable space in 6 Braham Street. This property is subleased by Level 3 Communications from Leslie & Godwin, a United Kingdom subsidiary of AON Corporation, through December 2009. Level 3 Communications has executed a lease that will commence upon expiration of the Leslie & Godwin lease and continue through December 2015. Leslie & Godwin remains liable to us for rents under its lease.

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DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Leasing Activity

As of June 30, 2009

	For the Three Months Ended June 30, 2009		% Leased
Occupied Square Feet as of March 31, 2009(1)	11,202,601			95.1	%
2Q 2009 Acquisitions:
Loudoun Exchange II (3 Land Parcels)	—			—
Occupied Square Feet including 2Q 2009 Acquisitions(1)	11,202,601			94.5	%
Expirations, Terminations and Reductions	(101,125	)		(0.9	)%
New Leases and Expansions	115,130			1.0	%
Remeasurements(2)	17,207			0.2	%
Occupied Square Feet as of June 30, 2009(1)	11,233,813			94.8	%
GAAP Rent Growth(3)
Expiring Rent per Square Foot			$	18.52
New Rent per Square Foot			$	138.63
Weighted Average Lease Term - New (in months)				90

(1) Occupancy excludes space held for redevelopment.

(2) Represents remeasuring of building and/or specific areas to Building Owners and Managers Association (BOMA) standards.

(3) Represents estimated cash rent growth adjusted for straight-line rents in accordance with GAAP.

Page 24

DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Tenant Improvements and Leasing Commissions

	Three Months Ended								Full Year 2008
	6/30/2009		3/31/2009		12/31/2008		9/30/2008
Renewals(1)
Number of renewals		19		13		10		6		29
Square Feet		308,205		163,216		25,866		72,520		151,114
Tenant improvement costs per square foot(2)	$	0.17	$	0.14	$	3.08	$	2.70	$	2.17
Leasing commission costs per square foot(2)	$	10.26	$	6.04	$	5.38	$	7.31	$	6.72
Total renewal lease costs per square foot	$	10.43	$	6.18	$	8.46	$	10.01	$	8.89
New Leases(3)
Number of non-redevelopment leases		17		12		12		21		64
Non-Redevelopment square feet		35,875		121,926		135,884		48,834		257,354
Non-Redevelopment tenant improvement costs per square foot(2)	$	12.97	$	0.57	$	—	$	15.84	$	12.87
Non-Redevelopment leasing commission costs per square foot(2)	$	12.42	$	2.79	$	9.85	$	5.59	$	10.97
Number of redevelopment leases		10		16		13		19		78
Redevelopment square feet		79,255		328,538		184,092		302,320		912,942
Redevelopment tenant improvement costs per square foot(2)(4)	$	14.89	$	1.35	$	3.11	$	4.96	$	2.97
Redevelopment leasing commission costs per square foot(2)	$	20.67	$	12.39	$	17.62	$	9.69	$	11.79
Total Number of Leases		27		28		25		40		142
Total Square Feet		115,130		450,464		319,976		351,154		1,170,296
Total new lease costs per square foot	$	32.39	$	10.93	$	16.11	$	15.60	$	16.76
Total(5)
Number of leases		46		41		35		46		171
Square Feet		423,335		613,680		345,842		423,674		1,321,410
Tenant improvement costs per square foot(2)	$	4.01	$	0.87	$	1.89	$	5.83	$	4.81
Leasing commission costs per square foot(2)	$	12.39	$	8.79	$	13.65	$	8.81	$	11.05
Total costs per square foot	$	16.40	$	9.66	$	15.54	$	14.64	$	15.86

(1) Does not include retained tenants that have relocated to new space or expanded into new space.

(2) Assumes all tenant improvement and leasing commissions are paid in the calendar year in which the lease commences, which may be different than the year in which they are actually paid.

(3) Includes retained tenants that have relocated to new space or expanded into new space within our portfolio.

(4) Redevelopment Tenant Improvement costs include tenant-specific building improvements for square footage designated as space held for redevelopment; however, it does not include redevelopment costs.

(5) Recent property acquisitions may make a period over period comparison difficult. For a list of the acquisition dates of our properties see page 18.

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DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Historical Capital Expenditures

	Three Months Ended
	6/30/2009		3/31/2009		12/31/2008		9/30/2008		6/30/2008		3/31/2008
Recurring capital expenditures(1)(2)	$	9,628,000	$	4,779,000	$	7,380,000	$	5,489,000	$	5,272,000	$	7,349,000
Non-recurring capital expenditures(2)	$	88,605,000	$	125,530,000	$	135,646,000	$	128,204,000	$	138,379,000	$	86,040,000
Total net rentable square feet at period end excluding redevelopment space		11,854,886		11,784,573		11,387,102		11,244,657		10,977,945		10,795,795

(1) Recurring capital expenditures represents non-incremental building improvements required to maintain current revenues along with leasing commissions. Recurring capital expenditures do not include acquisition capital that was taken into consideration when underwriting the purchase of a building or expenditures which are incurred to bring a building up to “operating standard”.

(2) Recent property acquisitions may make a period over period comparison difficult. For a list of the acquisition dates of our properties see page 18.

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DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Redevelopment Activity

For the quarter ended June 30, 2009

(Square feet)

Activity for the quarter ended June 30, 2009	US		Europe	Total		% Leased(1)
Redevelopment Space as of March 31, 2009	996,312		222,213	1,218,525
Acquired Redevelopment Space and New Construction Space	22,409		—	22,409
Converted Redevelopment Space:
Turn-Key DatacenterSM	(80,846	)	—	(80,846	)	75.5	%
Powered Base BuildingSM	(11,876	)	—	(11,876	)	97.0	%
Remeasurement Adjustments	—		—	—
Redevelopment Space as of June 30, 2009	925,999		222,213	1,148,212
Redevelopment Space Under Construction at Quarter End	US		Europe	Total		% Leased(2)
Turn-Key DatacenterSM	110,012		76,000	186,012		32.0	%
Build-to-Suit	—		—	—
New Powered Base BuildingSM Shell	—		—	—
Redevelopment Space Under Construction as of June 30, 2009	110,012		76,000	186,012
New Development Under Construction at Quarter End(3)	US		Europe	Total
New Powered Base BuildingSM Shell	135,000		—	135,000

(1) Defined as leases that have commenced on or before June 30, 2009.

(2) Defined as leases that were signed on or before June 30, 2009.

(3) Not included as part of our redevelopment space inventory as of June 30, 2009.

Page 27

DIGITAL REALTY TRUST, INC.

Second Quarter 2009

Management Statements on Non-GAAP Supplemental Measures

Funds from Operations:

We calculate Funds from Operations, or FFO, in accordance with the standards established by the National Association of Real Estate Investment Trusts, or NAREIT. FFO represents net income (loss) (computed in accordance with GAAP), excluding gains (or losses) from sales of property, real estate related depreciation and amortization (excluding amortization of deferred financing costs) and after adjustments for unconsolidated partnerships and joint ventures. Management uses FFO as a supplemental performance measure because, in excluding real estate related depreciation and amortization and gains and losses from property dispositions, it provides a performance measure that, when compared year over year, captures trends in occupancy rates, rental rates and operating costs. We also believe that, as a widely recognized measure of the performance of REITs, FFO will be used by investors as a basis to compare our operating performance with that of other REITs. However, because FFO excludes depreciation and amortization and captures neither the changes in the value of our properties that result from use or market conditions, nor the level of capital expenditures and capitalized leasing commissions necessary to maintain the operating performance of our properties, all of which have real economic effect and could materially impact our financial condition and results from operations, the utility of FFO as a measure of our performance is limited. Other REITs may not calculate FFO in accordance with the NAREIT definition and, accordingly, our FFO may not be comparable to such other REITs’ FFO. Accordingly, FFO should be considered only as a supplement to net income as a measure of our performance.

Adjusted Funds From Operations:

We present adjusted funds from operations, or AFFO, as a supplemental operating measure because, when compared year over year, it assesses our ability to fund dividend and distribution requirements from our operating activities. We also believe that, as a widely recognized measure of the operations of REITs, AFFO will be used by investors as a basis to assess our ability to fund dividend payments in comparison to other REITs, including on a per share and unit basis. We calculate adjusted funds from operations, or AFFO, by adding to or subtracting from FFO (i) non-real estate depreciation, (ii) amortization of deferred financing costs (iii) noncash compensation (iv) straight line rents (v) fair value of lease revenue amortization (vi) capitalized leasing payroll (vii) recurring tenant improvements and (viii) capitalized leasing commissions. Other equity REITs may not calculate AFFO in a consistent manner. Accordingly, our AFFO may not be comparable to other equity REITs’ AFFO. AFFO should be considered only as a supplement to net income computed in accordance with GAAP as a measure of our performance.

EBITDA and Adjusted EBITDA:

We believe that earnings before interest expense, income taxes, depreciation and amortization, or EBITDA and Adjusted EBITDA (as defined below), are useful supplemental performance measures because they allow investors to view our performance without the impact of noncash depreciation and amortization or the cost of debt and with respect to Adjusted EBITDA preferred dividends and minority interests. Adjusted EBITDA is EBITDA excluding minority interests and preferred stock dividends. In addition, we believe EBITDA and adjusted EBITDA are frequently used by securities analysts, investors and other interested parties in the evaluation of REITs. Because EBITDA and adjusted EBITDA are calculated before recurring cash charges including interest expense and income taxes, exclude capitalized costs, such as leasing commissions, and are not adjusted for capital expenditures or other recurring cash requirements of our business, their utility as a measure of our performance is limited. Accordingly, EBITDA and Adjusted EBITDA should be considered only as supplements to net income (computed in accordance with GAAP) as a measure of our financial performance. Other equity REITs may calculate EBITDA and Adjusted EBITDA differently than we do; accordingly, our EBITDA and Adjusted EBITDA may not comparable to such other REITs’ EBITDA and Adjusted EBITDA.

NOI and Run-rate NOI:

Net Operating Income (NOI)

NOI represents rental revenue and tenant reimbursement revenue less rental property operating and maintenance, property taxes and insurance expenses (as reflected in statement of operations). NOI is commonly used by stockholders, company management and industry analysts as a measurement of operating performance of the company’s rental portfolio. However, because NOI excludes depreciation and amortization and captures neither the changes in the value of our properties that result from use or market conditions, nor the level of capital expenditures and capitalized leasing commissions necessary to maintain the operating performance of our properties, all of which have real economic effect and could materially impact our results from operations, the utility of NOI as a measure of our performance is limited. Other REITs may not calculate NOI in the same manner we do and, accordingly, our NOI may not be comparable to such other REITs’ NOI. Accordingly, NOI should be considered only as a supplement to net income as a measure of our performance.

Run-rate NOI:

Run-rate NOI represents NOI as defined above adjusted for new acquisitions to show an estimate of NOI as if the property had been owned for the entire quarter. Run-rate NOI is commonly used by stockholders, company management and industry analysts as a measurement of future operating performance of the company’s rental portfolio. Run-rate NOI may not be indicative of future performance. Actual performance is subject to risks, uncertainties and assumptions. See the discussion of forward-looking statements on page 3.

Page 28