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): October 29, 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 October 29, 2009, we issued a press release announcing our financial results for the quarter ended September 30, 2009. The text of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

On October 29, 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 October 29, 2009, we issued a press release announcing our financial results for the quarter ended September 30, 2009. The text of the press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein.

On October 29, 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 October 29, 2009.
99.2	Supplemental Operating and Financial Data posted October 29, 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: October 29, 2009

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press Release dated October 29, 2009.
99.2	Supplemental Operating and Financial Data posted October 29, 2009.

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

For Additional Information:

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

DIGITAL REALTY TRUST, INC. REPORTS THIRD QUARTER 2009 RESULTS

Strong performance drives FFO increase of 4.2% in the third quarter

Highlights:

• Reported FFO of $0.74 per diluted share and unit for the quarter ended September 30, 2009;

• Reported net income for the quarter ended September 30, 2009 of $23.9 million and net income available to common stockholders of $12.4 million, or $0.16 per diluted share;

• Commenced leases on approximately 101,000 square feet during the third quarter at an average annualized GAAP rent of approximately $170 per square foot, including non technical space;

• Completed three acquisitions, including a controlling interest in a joint venture redevelopment project in suburban Dallas, a fully leased facility in Silicon Valley, and the remaining noncontrolling ownership interest in a fully leased facility in Silicon Valley from the Company’s joint venture partner;

• Completed a £23.8 million secured mortgage financing in October;

• Received a $30.0 million commitment under the revolving credit facility from a new lender;

• Completed a €30.0 million secured mortgage financing scheduled to fund in December 2009;

• Announced initial quarterly common stock dividend increase of 9.1% to $0.36 per share paid September 30, 2009;

• Announced second quarterly common stock dividend increase of 25.0% to $0.45 per share payable January 15, 2010; and

• Raised the low end of 2009 annual FFO guidance range to $2.88 per diluted share and unit.

560 MISSION STREET, SUITE 2900

SAN FRANCISCO, CA 94105

415-738-6500

Page 1

San Francisco, Calif. (October 29, 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 third quarter of 2009. The Company reported total operating revenues of $163.2 million in the third quarter of 2009, up 5.3% from $155.0 million in the second quarter of 2009 and up 14.9% from $142.0 million in the third quarter of 2008.

Funds from operations (“FFO”) on a diluted basis was $74.7 million in the third quarter of 2009, or $0.74 on a diluted per share and unit basis, up 4.2% from $0.71 per diluted share and unit in the previous quarter, and up 8.8% from $0.68 per diluted share and unit in the third quarter of 2008.

“There were no material non-recurring items impacting FFO or net income in the quarters ended September 30 and June 30, 2009. For the quarter ended September 30, 2008, the FFO of $0.68 per diluted share and unit included additional FFO from certain significant items that do not represent ongoing revenue streams (primarily lease termination fees). After adjusting for these items, FFO would have been $0.62 per diluted share and unit. This represents an FFO increase of 19.4% over the same period last year after adjusting for these items,” said A. William Stein, Chief Financial Officer and Chief Investment Officer of Digital Realty Trust.

Net income for the third quarter was $23.9 million, up 12.7% from $21.2 million in the second quarter of 2009 and up 29.9% from $18.4 million in the third quarter of 2008. Net income available to common stockholders in the third quarter was $12.4 million, or $0.16 per diluted share, compared to $10.3 million, or $0.13 per diluted share in the second quarter of 2009, and up from $7.5 million, or $0.10 per diluted share in the third quarter of 2008.

“We are pleased to report another strong performance in the third quarter,” commented Michael F. Foust, Chief Executive Officer of Digital Realty Trust. “Our strong balance sheet, leading global market position in the wholesale datacenter space and unmatched technical expertise continue to provide us with opportunities to expand our business. We expect income producing acquisitions will take a larger role in our investment strategy, contributing external earnings growth to complement internal growth from our ongoing development and leasing activities.”

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.

Page 2

Acquisitions and Leasing Activity

In September, the Company acquired a controlling interest in a joint venture redevelopment project. Digital Realty Trust Datacenter Park – Dallas, formerly known as Collins Technology Park, consists of seven buildings totaling approximately 796,000 square feet, ranging in size from 15,000 square feet to 250,000 square feet. The 69-acre property also contains several developable land sites and a private substation with 40 MW of immediate availability, which is expandable up to 125 MW. Concurrent with the acquisition, the joint venture assumed a $17 million secured loan on the property at an interest-only rate of 5.0%. Additionally, the Company acquired 444 Toyama Drive, a 42,000 square foot fully leased operating datacenter located in Sunnyvale, California, as well as the remaining noncontrolling ownership interest in 1525 Comstock Street, a 42,000 square foot property located in Santa Clara, California from its joint venture partner.

For the quarter ended September 30, 2009, the Company commenced leases totaling approximately 101,000 square feet of space. This includes approximately 90,000 square feet of Turn-Key Datacenter^® space leased at an average annual GAAP rental rate of $187.00 per square foot and approximately 11,000 square feet of non-technical space leased at an average annual GAAP rental rate of $25.00 per square foot.

Balance Sheet Update

Total assets grew to approximately $3.5 billion at September 30, 2009, from $3.3 billion at December 31, 2008. Total debt at September 30, 2009 was approximately $1.6 billion and at December 31, 2008 was approximately $1.4 billion. Stockholders’ equity was approximately $1.6 billion at September 30, 2009, up from $1.5 billion at December 31, 2008.

In August, the Company received a $30.0 million commitment under its revolving credit facility from a new lender, increasing 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 increased from $485.0 million to $515.0 million.

In September the Company completed and executed documents for a five-year, €30.0 million interest-only secured mortgage financing for Clonshaugh Industrial Estate II located in Dublin, Ireland. The loan is scheduled to fund in early December 2009. Based on the current swap rate, the all-in interest rate is approximately 7.37%.

Page 3

Subsequent to the end of the quarter, the Company closed a five-year £23.8 million loan secured by two properties located in the United Kingdom, Cressex 1 in suburban London and Manchester Technopark in Manchester. The interest rate is 5.68%.

“Our strong liquidity position and conservative capital structure provide us with a solid platform to further expand our business in the coming year,” said A. William Stein, Chief Financial Officer and Chief Investment Officer of Digital Realty Trust. “As we approach the end of the year, we are raising the low end of our 2009 annual FFO guidance to $2.88 per diluted share and unit. We plan to provide 2010 guidance in November.”

2009 Revised Outlook

FFO per diluted share and unit for the year ending December 31, 2009 is projected to be between $2.88 and $2.90, compared to the previous 2009 FFO guidance of between $2.80 and $2.90 per diluted share and unit. This revised guidance represents projected FFO growth of 11.2% to 12.0% over FFO per diluted share and unit of $2.59 for the year ended December 31, 2008. A reconciliation of the range of 2009 projected net income to projected FFO follows:

	(Low - High)
Net income available to common stockholders per share	$0.58 - 0.60
Add:
Real estate depreciation and amortization as adjusted for noncontrolling interests	$2.41
Less:
Dilutive impact of convertible stock and exchangeable debentures	$(0.11)
Projected FFO per diluted share and unit	$2.88 - 2.90

Investor Conference Call Details

Digital Realty Trust will host a conference call on Thursday, October 29, 2009 at 1:00 pm ET/10:00 am PT to discuss its third 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 877-941-8609 (for domestic callers) or 480-629-9818 (for international callers) and quote the conference ID #4159375 at least five minutes prior to start time. A live webcast of the call will be available via the

Page 4

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 until November 4, 2009. The telephone replay can be accessed by dialing 800-406-7325 (for domestic callers) or 303-590-3030 (for international callers) and using reservation code 4159375#. 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® and Powered Base Building® 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 78 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 13.8 million rentable square feet as of September 30, 2009, including 1.9 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, and the assumptions underlying such results, as well as statements related to the company’s future acquisitions, leasing and financing plans. 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 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

Page 5

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						Nine Months Ended
	September 30, 2009			September 30, 2008			September 30, 2009			September 30, 2008
				(adjusted)						(adjusted)
Operating Revenues:
Rental	$	130,878		$	102,449		$	374,347		$	293,161
Tenant reimbursements		32,236			29,882			92,807			77,367
Other		113			9,685			214			9,811
Total operating revenues		163,227			142,016			467,368			380,339
Operating Expenses:
Rental property operating and maintenance		45,278			39,859			130,152			107,483
Property taxes		9,295			8,689			27,655			25,335
Insurance		1,495			1,252			4,439			3,655
Depreciation and amortization		50,439			46,548			145,926			125,292
General and administrative		10,660			11,261			30,802			29,730
Other		404			749			689			1,058
Total operating expenses		117,571			108,358			339,663			292,553
Operating income		45,656			33,658			127,705			87,786
Other Income (Expenses):
Equity in earnings of unconsolidated joint venture		1,091			178			2,948			509
Interest and other income		90			453			736			1,515
Interest expense		(22,559	)		(15,716	)		(63,991	)		(45,874	)
Income tax expense		(333	)		(154	)		(1,061	)		(969	)
Loss from early extinguishment of debt		—			—			—			(182	)
Net Income		23,945			18,419			66,337			42,785
Net income attributable to noncontrolling interests		(1,438	)		(833	)		(3,062	)		(1,426	)
Net Income Attributable to Digital Realty Trust, Inc.		22,507			17,586			63,275			41,359
Preferred stock dividends		(10,101	)		(10,102	)		(30,303	)		(28,462	)
Net Income Available to Common Stockholders	$	12,406		$	7,484		$	32,972		$	12,897
Net income per share available to common stockholders:
Basic	$	0.16		$	0.11		$	0.44		$	0.19
Diluted	$	0.16		$	0.10		$	0.43		$	0.19
Weighted average shares outstanding:
Basic		76,301,577			70,916,019			75,714,757			67,425,030
Diluted		77,674,137			73,338,871			76,450,131			69,440,812

Page 7

Digital Realty Trust

Consolidated Balance Sheets

(in thousands)

	September 30, 2009			December 31, 2008
	(unaudited)
ASSETS
Investments in real estate
Properties:
Land	$	364,010		$	316,318
Acquired ground leases		2,795			2,733
Buildings and improvements		2,770,434			2,467,830
Tenant improvements		270,490			255,818
Investments in properties		3,407,729			3,042,699
Accumulated depreciation and amortization		(418,794	)		(302,960	)
Net investments in properties		2,988,935			2,739,739
Investment in unconsolidated joint venture		8,354			8,481
Net investments in real estate		2,997,289			2,748,220
Cash and cash equivalents		41,152			73,334
Accounts and other receivables, net		45,404			39,108
Deferred rent		134,458			99,957
Acquired above market leases, net		27,255			31,352
Acquired in place lease value and deferred leasing costs, net		213,239			222,389
Deferred financing costs, net		21,357			16,275
Restricted cash		36,813			45,470
Other assets		15,451			4,940
Total Assets	$	3,532,418		$	3,281,045
LIABILITIES AND EQUITY
Revolving credit facility	$	149,838		$	138,579
Unsecured senior notes		83,000			58,000
Mortgage loans		935,206			1,026,594
4.125% exchangeable senior debentures due 2026, net of discount		164,826			161,901
5.50% exchangeable senior debentures due 2029		266,400			—
Accounts payable and other accrued liabilities		153,072			171,176
Accrued dividends and distributions		—			26,092
Acquired below market leases, net		67,099			76,660
Security deposits and prepaid rents		58,818			46,967
Total Liabilities		1,878,259			1,705,969
Equity:
Stockholders’ equity		1,573,859			1,503,921
Noncontrolling interests		80,300			71,155
Total Equity		1,654,159			1,575,076
Total Liabilities and Equity	$	3,532,418		$	3,281,045

Page 8

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									Nine Months Ended
	September 30, 2009			June 30, 2009			September 30, 2008			September 30, 2009			September 30, 2008
							(adjusted)						(adjusted)
Net income available to common stockholders	$	12,406		$	10,271		$	7,484		$	32,972		$	12,897
Adjustments:
Noncontrolling interests in operating partnership		898			757			637			2,448			1,180
Real estate related depreciation and amortization (2)		50,163			48,900			46,359			145,150			124,767
Real estate related depreciation and amortization related to investment in unconsolidated joint venture		543			858			859			2,047			2,625
FFO available to common stockholders and unitholders (3)	$	64,010		$	60,786		$	55,339		$	182,617		$	141,469
Basic FFO per share and unit	$	0.78		$	0.74		$	0.72		$	2.24		$	1.92
Diluted FFO per share and unit (3)	$	0.74		$	0.71		$	0.68		$	2.14		$	1.84
Weighted average common stock and units outstanding
Basic		82,094			81,999			76,953			81,553			73,839
Diluted (3)		101,492			99,461			91,209			97,840			86,634
(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 ASC Subtopic 470-20, formerly Staff Position APB 14-1 “Accounting for Convertible Debt Instruments That May be Settled Upon Conversion (Including Partial Cash Settlement)”; FASB ASC Subtopic 810-10, formerly 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		50,439			49,183			46,548			145,926			125,292
Non real estate depreciation		(276	)		(283	)		(189	)		(776	)		(525	)
	$	50,163		$	48,900		$	46,359		$	145,150		$	124,767
(3)    At September 30, 2009, we had 7,000 series C convertible preferred shares and 13,796 series D convertible preferred shares outstanding that were convertible into 3,615 common shares and 8,215 common shares, respectively. In addition, we had a balance of $266,400 of 5.50% exchangeable senior debentures that were exchangeable for 6,195 and 3,722 common shares on a weighted average basis for the three and nine months ended September 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									Nine Months Ended
	September 30, 2009			June 30, 2009			September 30, 2008			September 30, 2009			September 30, 2008
FFO available to common stockholders and unitholders	$	64,010		$	60,786		$	55,339		$	182,617		$	141,469
Add: Series C convertible preferred dividends		1,914			1,914			1,914			5,742			5,742
Add: Series D convertible preferred dividends		4,742			4,742			4,744			14,226			12,387
Add: 5.50% exchangeable senior debentures interest expense		4,050			3,148			—			7,198			—
FFO available to common stockholders and unitholders - diluted	$	74,716		$	70,590		$	61,997		$	209,783		$	159,598
Weighted average common stock and units outstanding		82,094			81,999			76,953			81,553			73,839
Add: Effect of dilutive securities (excluding series C and D convertible preferred stock)		1,373			730			2,423			735			2,016
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			7,164
Add: Effect of dilutive 5.50% exchangeable senior debentures		6,195			4,902			—			3,722			—
Weighted average common stock and units outstanding - diluted		101,492			99,461			91,209			97,840			86,634

Page 9

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.

Page 10

EX-99.2

Exhibit 99.2

DIGITAL REALTY TRUST, INC.

Third 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 September 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

Page 2

DIGITAL REALTY TRUST, INC.

Third 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.

Third Quarter 2009

Corporate Information

Corporate Profile

Digital Realty Trust, Inc. owns, acquires, repositions and manages technology-related real estate. The Company’s 78 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 data center tenants. Comprising approximately 13.8 million net rentable square feet, including approximately 1.9 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, Corporate Development

David J. Caron: Senior Vice President, Portfolio Management

Michael Manos: Senior Vice President, Technical Services

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	Bank of America
Michael Knott	Srinivas Anantha	Michael Bilerman	David Aubuchon	Jamie Feldman
(949) 640-8780	(617) 428-5960	(212) 816-1685	(314) 863-4235	(646) 855-5808
Matthew Wokasch	Peter Armstrong	Mark Montandon	Justin Pelham-Webb	Jana Galan
(949) 640-8780	(212) 667-5808	(212) 816-1685	(314) 863-6413	(646) 855-9081
RBC Capital Markets	Raymond James	KeyBanc Capital Markets	ISI	Stifel Nicolaus
Dave Rodgers	Paul D. Puryear	Jordan Sadler	Steve Sakwa	Todd Weller
(440) 715-2647	(727) 567-2253	(917) 368-2280	(212) 446-9462	(443) 224-1305
Mike Carroll	William A. Crowe	Craig Mailman	Ian Weismann	Ben Lowe
(440) 715-2649	(727) 567-2594	(917) 368-2316	(212) 446-9461	(443) 224-1264

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):

	3rd Quarter 2009			2nd Quarter 2009			1st Quarter 2009			4th Quarter 2008			3rd Quarter 2008			2nd Quarter 2008			1st Quarter 2008
High Price *	$	48.21		$	39.84		$	35.70		$	47.62		$	51.28		$	43.45		$	39.20
Low Price *	$	34.27		$	32.14		$	24.96		$	18.04		$	36.96		$	35.43		$	31.28
Closing Price, end of quarter *	$	45.71		$	35.85		$	33.18		$	32.85		$	47.25		$	40.91		$	35.50
Average daily trading volume *		1,362,583			2,258,424			2,074,752			1,876,211			1,139,423			904,670			1,224,336
Indicated dividend per common share **	$	1.440		$	1.320		$	1.320		$	1.320		$	1.240		$	1.240		$	1.240
Closing annual dividend yield, end of quarter		3.2	%		3.7	%		4.0	%		4.0	%		2.6	%		3.0	%		3.5	%
Closing shares and units outstanding end of quarter ***		82,173,996			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	$	3,756,173		$	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 September 30, 2009, the total number of shares and units includes 76,519,219 shares of common stock, 4,360,549 common units held by third parties and 1,294,228 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.

Third Quarter 2009

Ownership Structure

As of September 30, 2009

Partner	# of Units (2)	% Ownership
Digital Realty Trust, Inc.	76,519,219	93.1	%
Cambay Tele.com, LLC (3)	4,327,827	5.3	%
Wave Exchange, LLC (3)	32,722	0.0	%
Directors, Executive Officers and Others	1,294,228	1.6	%
Total	82,173,996	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 76,519,219 shares of common stock, 4,360,549 common units held by third parties and 1,294,228 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 assumed 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 564,913 common units held by the members of Cambay Tele.com, LLC.

Page 5

DIGITAL REALTY TRUST, INC.

Third 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-Sep-09			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		76,519,219			76,140,807			76,042,511			73,306,703			72,556,699			66,174,618			65,481,470
Common units outstanding		5,654,777			5,872,570			5,938,205			5,819,130			5,702,922			6,231,221			6,847,966
Total shares and Operating Partnership units		82,173,996			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)	$	3,756,173		$	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			686,637			686,750			686,750			686,750			686,750
Total debt at balance sheet carrying value		1,599,270			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	$	6,042,080		$	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		26.5	%		29.5	%		29.7	%		29.7	%		22.6	%		27.2	%		26.8	%
Selected Balance Sheet Data
Investments in real estate (before depreciation)	$	3,416,083		$	3,283,874		$	3,155,062		$	3,051,180		$	2,905,275		$	2,816,258		$	2,602,166
Total assets		3,532,418			3,444,708			3,351,613			3,281,045			3,158,885			3,070,850			2,895,036
Total liabilities		1,878,259			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	$	163,227		$	155,007		$	149,134		$	147,106		$	142,016		$	123,776		$	114,547
Total operating expenses from continuing operations		117,571			112,161			109,931			106,537			108,358			94,942			89,253
Interest expense from continuing operations		22,559			22,495			18,937			17,747			15,716			14,956			15,202
Net income		23,945			21,203			21,189			25,133			18,419			13,550			10,816
Net income (loss) available to common stockholders		12,406			10,271			10,295			13,793			7,484			3,094			2,319
Financial Ratios
EBITDA (3)	$	85,737		$	82,241		$	75,972		$	78,766		$	69,902		$	58,367		$	56,763
Adjusted EBITDA (4)	$	97,276		$	93,173		$	86,866		$	90,106		$	80,837		$	68,823		$	65,260
Cash interest expense (5)	$	19,812		$	16,695		$	21,398		$	17,439		$	20,116		$	14,691		$	20,093
Fixed charges (6)	$	32,981		$	29,721		$	34,505		$	30,323		$	32,619		$	27,163		$	30,737
Debt service coverage ratio (7)		4.9	x		5.6	x		4.1	x		5.2	x		4.0	x		4.7	x		3.2	x
Fixed charge coverage ratio (8)		2.9	x		3.1	x		2.5	x		3.0	x		2.5	x		2.5	x		2.1	x
Profitability measures
Net income (loss) per common share - basic	$	0.16		$	0.13		$	0.14		$	0.19		$	0.11		$	0.05		$	0.04
Net income (loss) per common share - diluted	$	0.16		$	0.13		$	0.14		$	0.19		$	0.10		$	0.05		$	0.03
Funds From Operations (FFO) per diluted share and unit (9)	$	0.74		$	0.71		$	0.70		$	0.75		$	0.68		$	0.58		$	0.57
Adjusted Funds From Operations (AFFO) per diluted share and unit (10)	$	0.59		$	0.51		$	0.53		$	0.56		$	0.56		$	0.41		$	0.38
Dividends per share and common unit	$	0.36		$	0.33		$	0.33		$	0.33		$	0.31		$	0.31		$	0.31
Diluted FFO payout ratio (11)		48.9	%		46.5	%		47.4	%		44.1	%		45.6	%		53.2	%		54.4	%
Diluted AFFO payout ratio (12)		61.0	%		64.7	%		62.3	%		58.9	%		55.4	%		75.6	%		81.6	%
Portfolio Statistics
Buildings		108			99			99			98			96			96			93
Properties		78			75			75			75			74			74			71
Net rentable square feet, excluding redevelopment space		11,964,522			11,854,886			11,784,573			11,387,102			11,244,657			10,977,945			10,795,795
Square feet held for redevelopment (13)		1,876,885			1,148,212			1,218,525			1,573,612			1,606,407			1,873,119			1,863,700
Occupancy at end of quarter (14)		95.2	%		94.8	%		95.1	%		94.9	%		95.2	%		95.2	%		94.7	%
Weighted average remaining lease term (years) (15)		7.6			7.5			7.6			7.3			7.3			7.4			7.7
Same store occupancy at end of quarter (14)(16)		95.1	%		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 ASC 470-20, formerly FASB APB 14-1 “Accounting for Convertible Debt Instruments That May be Settled Upon Conversion (Including Partial Cash Settlement)” and FASB ASC
810-10, formerly 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.

Third Quarter 2009

Consolidated Balance Sheets ⁽¹⁾

(Dollars in thousands, except share data)

	September 30, 2009			December 31, 2008
	(unaudited)
ASSETS
Investments in real estate
Land	$	364,010		$	316,318
Acquired ground leases		2,795			2,733
Buildings and improvements		2,770,434			2,467,830
Tenant improvements		270,490			255,818
Investments in real estate		3,407,729			3,042,699
Accumulated depreciation and amortization		(418,794	)		(302,960	)
Net investments in properties		2,988,935			2,739,739
Investment in unconsolidated joint venture		8,354			8,481
Net investments in real estate		2,997,289			2,748,220
Cash and cash equivalents		41,152			73,334
Accounts and other receivables, net		45,404			39,108
Deferred rent		134,458			99,957
Acquired above market leases, net		27,255			31,352
Acquired in place lease value and deferred leasing costs, net		213,239			222,389
Deferred financing costs, net		21,357			16,275
Restricted cash		36,813			45,470
Other assets		15,451			4,940
Total Assets	$	3,532,418		$	3,281,045
LIABILITIES AND EQUITY
Revolving credit facility	$	149,838		$	138,579
Unsecured senior notes		83,000			58,000
Mortgage loans		935,206			1,026,594
4.125 % exchangeable senior debentures due 2026, net of discount		164,826			161,901
5.50% exchangeable senior debentures due 2029		266,400			—
Accounts payable and other accrued liabilities		153,072			171,176
Accrued dividends and distributions		—			26,092
Acquired below market leases, net		67,099			76,660
Security deposits and prepaid rents		58,818			46,967
Total Liabilities		1,878,259			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), 6,999,955 and 7,000,000 issued and outstanding as of September 30, 2009 and December 31, 2008, respectively		169,067			169,068
Series D Cumulative Convertible Preferred Stock, 5.500%, $345,000,000 liquidation preference ($25.00 per share), 13,795,500 and 13,800,000 issued and outstanding as of September 30, 2009 and December 31, 2008, respectively		333,472			333,581
Common Stock; $0.01 par value: 125,000,000 authorized, 76,519,219 and 73,306,703 shares issued and outstanding as of September 30, 2009 and December 31, 2008, respectively		763			732
Additional paid-in capital		1,148,825			1,057,107
Dividends in excess of earnings		(211,596	)		(166,863	)
Accumulated other comprehensive income, net		(26,471	)		(49,503	)
Total stockholders’ equity		1,573,859			1,503,921
Noncontrolling interests:
Noncontrolling interest in operating partnership		62,212			66,797
Noncontrolling interest in consolidated joint venture		18,088			4,358
Total noncontrolling interests		80,300			71,155
Total Equity		1,654,159			1,575,076
Total Liabilities and Equity	$	3,532,418		$	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.

Third Quarter 2009

Consolidated Quarterly Statements of Operations ⁽¹⁾

(unaudited and in thousands, except share data)

	Three Months Ended
	30-Sep-09			30-Jun-09			31-Mar-09			31-Dec-08			30-Sep-08			30-Jun-08			31-Mar-08
Rental	$	130,878		$	125,380		$	118,089		$	111,398		$	102,449		$	97,966		$	92,746
Tenant reimbursements		32,236			29,544			31,027			30,136			29,882			25,698			21,787
Other		113			83			18			5,572			9,685			112			14
Total operating revenues		163,227			155,007			149,134			147,106			142,016			123,776			114,547
Rental property operating and maintenance		45,278			42,301			42,573			43,664			39,859			35,943			31,681
Property taxes		9,295			9,149			9,211			5,767			8,689			8,522			8,124
Insurance		1,495			1,488			1,456			1,333			1,252			1,198			1,205
Depreciation and amortization		50,439			49,183			46,304			47,086			46,548			39,591			39,153
General and administrative		10,660			10,040			10,102			8,661			11,261			9,686			8,783
Other		404			—			285			26			749			2			307
Total operating expenses		117,571			112,161			109,931			106,537			108,358			94,942			89,253
Operating income		45,656			42,846			39,203			40,569			33,658			28,834			25,294
Equity in earnings of unconsolidated joint venture		1,091			741			1,116			1,860			178			173			158
Interest and other income		90			403			243			591			453			407			655
Interest expense		(22,559	)		(22,495	)		(18,937	)		(17,747	)		(15,716	)		(14,956	)		(15,202	)
Tax expense		(333	)		(292	)		(436	)		(140	)		(154	)		(726	)		(89	)
Loss from early extinguishment of debt					—			—			—			—			(182	)		—
Net Income		23,945			21,203			21,189			25,133			18,419			13,550			10,816
Net Income attributable to noncontrolling interest		(1,438	)		(831	)		(793	)		(1,238	)		(833	)		(354	)		(239	)
Net Income Attributable to Digital Realty Trust, Inc.		22,507			20,372			20,396			23,895			17,586			13,196			10,577
Preferred stock dividends		(10,101	)		(10,101	)		(10,101	)		(10,102	)		(10,102	)		(10,102	)		(8,258	)
Net income available to common stockholders	$	12,406		$	10,271		$	10,295		$	13,793		$	7,484		$	3,094		$	2,319
Net income per share available to common stockholders - basic	$	0.16		$	0.13		$	0.14		$	0.19		$	0.11		$	0.05		$	0.04
Net income per share available to common stockholders - diluted	$	0.16		$	0.13		$	0.14		$	0.19		$	0.10		$	0.05		$	0.03
Weighted-average shares outstanding - basic		76,301,577			76,121,380			74,703,755			73,011,453			70,916,019			65,889,122			65,431,586
Weighted-average shares outstanding - diluted		77,674,137			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		83,466,346			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.

Third Quarter 2009

Funds From Operations (FFO) ⁽¹⁾

(unaudited and in thousands except per share data)

	Three Months Ended
	30-Sep-09			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	$	12,406		$	10,271		$	10,295		$	13,793		$	7,484		$	3,094		$	2,319
Adjustments:
Noncontrolling interests in operating partership		898			757			793			1,149			637			304			239
Real estate related depreciation and amortization (2)		50,163			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		543			858			646			(286	)		859			872			894
FFO available to common stockholders and unitholders	$	64,010		$	60,786		$	57,821		$	61,546		$	55,339		$	43,684		$	42,446
FFO per share and unit:
Basic	$	0.78		$	0.74		$	0.72		$	0.78		$	0.72		$	0.60		$	0.59
Diluted (3)	$	0.74		$	0.71		$	0.70		$	0.75		$	0.68		$	0.58		$	0.57
Weighted-average shares and units outstanding - basic		82,094			81,999			80,550			79,096			76,953			72,354			72,175
Weighted-average shares and units outstanding - diluted (3)		101,492			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	$	50,439		$	49,183		$	46,304		$	47,086		$	46,548		$	39,591		$	39,153
Non-real estate depreciation		(276	)		(283	)		(217	)		(196	)		(189	)		(177	)		(159	)
	$	50,163		$	48,900		$	46,087		$	46,890		$	46,359		$	39,414		$	38,994
(3)     At September 30, 2009, we had 7,000 series C convertible preferred shares and 13,796 series D convertible preferred shares outstanding that were convertible into 3,615 common shares and 8,215 common shares, respectively. In addition, we had a balance of $266,400 of 5.50% exchangeable senior debentures that were exchangeable for 6,195 and 3,722 common shares on a weighted average basis for the three and nine months ended September 30, 2009, respectively. 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	$	64,010		$	60,786		$	57,821		$	61,546		$	55,339		$	43,684		$	42,446
Add: Series C convertible preferred dividends		1,914			1,914			1,914			1,914			1,914			1,914			1,914
Add: Series D convertible preferred dividends		4,742			4,742			4,742			4,744			4,744			4,744			2,899
Add: 5.50% exchangeable senior debentures interest expense		4,050			3,148			—			—			—			—			—
FFO available to common stockholders and unitholders — diluted	$	74,716		$	70,590		$	64,477		$	68,204		$	61,997		$	50,342		$	47,259
Weighted average common stock and units outstanding		82,094			81,999			80,550			79,096			76,953			72,354			72,175
Add: Effect of dilutive securities (excl. series C & D convert. preferred stock & 5.5% debentures)		1,373			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			3,615
Add: Effect of dilutive series D convertible preferred stock		8,215			8,215			8,215			8,218			8,218			8,218			5,022
Add: Effect of dilutive 5.50% exchangeable senior debentures		6,195			4,902			—			—			—			—			—
Weighted average common stock and units outstanding — diluted		101,492			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-Sep-09			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)	$	64,010		$	60,786		$	57,821		$	61,546		$	55,339		$	43,684		$	42,446
Adjustments:
Non-real estate depreciation		276			283			217			196			189			177			159
Amortization of deferred financing costs		2,114			1,896			1,662			1,599			1,524			1,411			1,398
Amortization of debt discount		992			974			959			943			927			911			896
Non-cash compensation		2,185			2,130			1,520			1,663			3,174			1,582			1,220
Loss from early extinguishment of debt		—			—			—			—			—			182			—
Straight line rents		(11,669	)		(11,089	)		(11,308	)		(11,036	)		(8,301	)		(8,899	)		(7,771	)
Above and below market rent amortization		(1,953	)		(2,118	)		(2,139	)		(1,971	)		(2,081	)		(2,525	)		(2,685	)
Capitalized leasing compensation		(1,917	)		(1,414	)		(1,271	)		(1,008	)		(1,009	)		(974	)		(1,045	)
Recurring capital expenditures and tenant improvements		(2,980	)		(7,161	)		(496	)		(3,031	)		(1,730	)		(3,699	)		(2,868	)
Capitalized leasing commissions		(1,823	)		(2,467	)		(4,283	)		(4,349	)		(3,759	)		(1,259	)		(3,936	)
AFFO available to common stockholders and unitholders	$	49,235		$	41,820		$	42,682		$	44,552		$	44,273		$	30,591		$	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.

Third Quarter 2009

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

(unaudited and in thousands)

	Three Months Ended
	30-Sep-09			30-Jun-09			31-Mar-09			31-Dec-08			30-Sep-08			30-Jun-08			31-Mar-08
Net income available to common stockholders	$	12,406		$	10,271		$	10,295		$	13,793		$	7,484		$	3,094		$	2,319
Interest		22,559			22,495			18,937			17,747			15,716			14,956			15,202
Taxes		333			292			436			140			154			726			89
Depreciation and amortization		50,439			49,183			46,304			47,086			46,548			39,591			39,153
EBITDA		85,737			82,241			75,972			78,766			69,902			58,367			56,763
Noncontrolling interest		1,438			831			793			1,238			833			354			239
Preferred stock dividends		10,101			10,101			10,101			10,102			10,102			10,102			8,258
Adjusted EBITDA	$	97,276		$	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-Sep-09			30-Jun-09			31-Mar-09			31-Dec-08			30-Sep-08			30-Jun-08			31-Mar-08
Total GAAP interest expense		22,559			22,495			18,937			17,747			15,716			14,956			15,202
Capitalized interest		2,027			2,147			3,072			4,305			4,630			4,708			4,708
Change in accrued interest and other noncash amounts		(4,774	)		(7,947	)		(611	)		(4,613	)		(230	)		(4,973	)		183
Cash interest expense (a)		19,812			16,695			21,398			17,439			20,116			14,691			20,093
Scheduled debt principal payments and preferred dividends		13,169			13,026			13,107			12,884			12,503			12,472			10,644
Total fixed charges (b)		32,981			29,721			34,505			30,323			32,619			27,163			30,737
Debt service coverage ratio based on GAAP interest expense (c)		4.3	x		4.1	x		4.6	x		5.1	x		5.1	x		4.6	x		4.3	x
Debt service coverage ratio based on cash interest expense (c)		4.9	x		5.6	x		4.1	x		5.2	x		4.0	x		4.7	x		3.2	x
Fixed charge coverage ratio based on GAAP interest expense (d)		2.7	x		2.6	x		2.7	x		2.9	x		2.9	x		2.5	x		2.5	x
Fixed charge coverage ratio based on cash interest expense (d)		2.9	x		3.1	x		2.5	x		3.0	x		2.5	x		2.5	x		2.1	x
Debt to total market capitalization including debt and preferred equity (e)		26.5	%		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)		37.8	%		42.9	%		43.9	%		44.4	%		34.8	%		40.9	%		42.2	%
Pretax income to interest expense (g)		2.1	x		1.9	x		2.1	x		2.4	x		2.2	x		1.9	x		1.7	x
Net Debt to Adjusted EBITDA (h)		4.0	x		3.9	x		3.9	x		3.6	x		3.8	x		4.9	x		4.4	x

(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 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.

Third Quarter 2009

Net Operating Income (NOI) and Run-rate NOI

For the three months ended September 30, 2009

(unaudited and in thousands)

Rental revenues	$	130,878
Tenant reimbursements		32,236
Rental property operating and maintenance		(45,278	)
Property taxes		(9,295	)
Insurance		(1,495	)
NOI	$	107,046
Actual results of properties acquired during the quarter:
Rental revenues		(30	)
Tenant reimbursements		—
Rental property operating and maintenance		8
Property taxes		—
Insurance		—
Projected full quarter of actual results of properties acquired during the quarter:
Rental revenues		500
Tenant reimbursements		—
Rental property operating and maintenance		—
Property taxes		—
Insurance		—
Run-rate NOI	$	107,524
Reconciliation of net income available to common stockholders to NOI
Net income available to common stockholders	$	12,406
Other revenues		(113	)
Interest expense		22,559
Depreciation and amortization		50,439
General and administrative expenses		10,660
Tax expense		333
Other expenses		404
Equity in earnings of unconsolidated joint venture		(1,091	)
Interest and other income		(90	)
Net Income attributable to noncontrolling interest		1,438
Preferred stock dividends		10,101
NOI	$	107,046

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

Page 11

DIGITAL REALTY TRUST, INC.

Third Quarter 2009

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

(unaudited and in thousands)

	Three Months Ended
Same store (2)	30-Sep-09			30-Jun-09			31-Mar-09			31-Dec-08			30-Sep-08			30-Jun-08			31-Mar-08
Operating Revenues:
Rental	$	127,854		$	122,415		$	115,993		$	110,692		$	101,575		$	97,892		$	92,746
Tenant reimbursements		31,038			28,444			29,919			28,507			29,878			25,698			21,787
Other		113			83			18			5,572			9,685			112			14
Total operating revenues		159,005			150,942			145,930			144,771			141,138			123,702			114,547
Operating Expenses:
Rental property operating and maintenance		43,259			40,435			41,094			41,764			39,802			35,931			31,624
Property taxes		9,027			8,986			9,107			5,723			8,650			8,521			8,124
Insurance		1,455			1,463			1,439			1,325			1,246			1,198			1,205
Depreciation and amortization		49,319			48,092			45,460			46,794			46,255			39,591			39,153
General and administrative (3)		10,660			10,040			10,102			8,661			11,261			9,686			8,783
Other		404			—			285			26			749			2			307
Total operating expenses		114,124			109,016			107,487			104,293			107,963			94,929			89,196
Operating income		44,881			41,926			38,443			40,478			33,175			28,773			25,351
Other Income (Expenses):
Equity in earnings of unconsolidated joint venture		1,091			741			1,116			1,860			178			173			158
Interest and other income		91			402			242			589			452			405			655
Interest expense (4)		(22,301	)		(22,459	)		(18,937	)		(17,747	)		(15,716	)		(14,954	)		(15,202	)
Tax expense		(332	)		(314	)		(434	)		(140	)		(154	)		(726	)		(89	)
Loss from early extinguishment of debt		—			—			—			—			—			(182	)		—
Net Income	$	23,430		$	20,296		$	20,430		$	25,040		$	17,935		$	13,489		$	10,873
New properties (2)
Operating Revenues:
Rental	$	3,024		$	2,965		$	2,096		$	706		$	874		$	74		$	—
Tenant reimbursements		1,198			1,100			1,108			1,629			4			—			—
Other		—			—			—			—			—			—			—
Total operating revenues		4,222			4,065			3,204			2,335			878			74			—
Operating Expenses:
Rental property operating and maintenance		2,019			1,866			1,479			1,900			57			12			57
Property taxes		268			163			104			44			39			1			—
Insurance		40			25			17			8			6			—			—
Depreciation and amortization		1,120			1,091			844			292			293			—			—
General and administrative (3)		—			—			—			—			—			—			—
Other		—			—			—			—			—			—			—
Total operating expenses		3,447			3,145			2,444			2,244			395			13			57
Operating income		775			920			760			91			483			61			(57	)
Other Income (Expenses):
Equity in earnings of unconsolidated joint venture		—			—			—			—			—			—			—
Interest and other income		(1	)		1			1			2			1			2			—
Interest expense (4)		(258	)		(36	)		—			—			—			(2	)		—
Income tax expense		(1	)		22			(2	)		—			—			—			—
Loss from early extinguishment of debt		—			—			—			—			—			—			—
Net Income	$	515		$	907		$	759		$	93		$	484		$	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.

Third Quarter 2009

Same Store Operating Trend Summary ⁽¹⁾

(unaudited and in thousands, except share data)

	Three Months Ended
Same store (2)	30-Sep-09			30-Jun-09			Percentage Change		30-Sep-08			Percentage Change
Rental (3)	$	127,854		$	122,415		4.4	%	$	101,575		25.9	%
Tenant reimbursements		31,038			28,444		9.1	%		29,878		3.9	%
		158,892			150,859		5.3	%		131,453		20.9	%
Rental property operating and maintenance		43,259			40,435		7.0	%		39,802		8.7	%
Property taxes		9,027			8,986		0.5	%		8,650		4.4	%
Insurance		1,455			1,463		(0.5	)%		1,246		16.8	%
		53,741			50,884		5.6	%		49,698		8.1	%
Net Operating Income (4)	$	105,151		$	99,975		5.2	%	$	81,755		28.6	%
Same store occupancy at end of quarter		95.1	%		94.7	%				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 $11,102, $10,479 and $8,086, respectively, and non-cash adjustments related to FAS 141 were $1,926, $2,092 and $2,050, respectively.

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

Page 13

DIGITAL REALTY TRUST, INC.

Third Quarter 2009

Consolidated Debt Analysis

(unaudited, in thousands)

	Maturity Date		Principal Balance as of September 30, 2009			% of Debt		Interest Rate as of September 30, 2009		Interest Rate as of September 30, 2009 including swaps
Unhedged Floating Rate Debt
Revolving credit facility	August 31, 2012	(1)		149,838		9.4	%	1.37	%	—
			$	149,838		9.4	%
Fixed Rate Mortgage Debt and Hedged Floating Rate Debt
Secured Term Debt	November 11, 2014			144,698		9.0	%	5.65	%	—
3 Corporate Place	August 1, 2013	(1)		80,000		5.0	%	6.72	%	—
200 Paul Avenue 1-4	October 8, 2015			78,198		4.9	%	5.74	%	—
2045 & 2055 LaFayette Street	February 6, 2017			67,475		4.2	%	5.93	%	—
Mundells Roundabout	November 30, 2013			68,443		4.3	%	1.70	%	4.18	%
600 West Seventh Street	March 15, 2016			55,854		3.5	%	5.80	%	—
34551 Ardenwood Boulevard 1-4	November 11, 2016			55,000		3.4	%	5.95	%	—
1100 Space Park Drive	December 11, 2016			55,000		3.4	%	5.89	%	—
150 South First Street	February 6, 2017			52,907		3.3	%	6.30	%	—
114 Rue Ambroise Croizat	January 18, 2012			46,218		2.9	%	2.10	%	5.13	%
1500 Space Park Drive	October 5, 2013			42,352		2.6	%	6.15	%	—
2334 Lundy Place	November 11, 2016			40,000		2.5	%	5.96	%	—
Unit 9, Blanchardstown Corporate Park	January 18, 2012			39,737		2.5	%	2.10	%	5.35	%
6 Braham Street	April 10, 2011			20,776		1.3	%	1.44	%	5.84	%
1201 Comstock Street	June 24, 2013	(1)		17,920		1.1	%	3.75	%	—
Datacenter Park — Dallas	September 15, 2012	(1)		17,000		1.1	%	5.00	%	—
Paul van Vlissingenstraat 16	July 18, 2013			15,597		1.0	%	2.35	%	5.58	%
Chemin de l’Epinglier 2	July 18, 2013			11,328		0.7	%	2.25	%	5.57	%
1125 Energy Park Drive	March 1, 2032			9,238		0.6	%	7.62	%	—
Gyroscoopweg 2E-2F	October 18, 2013			9,930		0.6	%	2.25	%	5.49	%
731 East Trade Street	July 1, 2020			5,368		0.3	%	8.22	%	—
			$	933,039		58.2	%
4.125 % exchangeable senior debentures due 2026	August 15, 2026			172,500		10.8	%	6.75	%	—
5.50% exchangeable senior debentures due 2029	April 15, 2029			266,400		16.7	%	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		2.1	%	9.32	%	—
Unsecured senior notes — Series C	January 6, 2016			25,000		1.6	%	9.68	%	—
Total Fixed Rate Debt Including Swaps			$	1,454,939		91.0	%
Unamortized discount on 4.125% exchangeable senior debentures due 2026				(7,674	)	(0.5	)%
Unamortized Loan premium — 1125 Energy Park Drive, 731 East Trade Street and 1500 Space Park Drive mortgages				2,167		0.1	%
Total Consolidated Debt			$	1,599,270		100.0	%
Weighted average cost of debt (including interest rate swaps)										5.54	%

(1) Assumes all extensions will be exercised.

Credit Facility

(in thousands)

	Maximum Available as of September 30, 2009		Available as of September 30, 2009		Drawn as of September 30, 2009
Revolving Credit Facility	$	750,000	$	587,000	$	149,838

Page 14

DIGITAL REALTY TRUST, INC.

Third 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	Morgan Stanley Bank, National Association		30,000
11	Credit Suisse, Cayman Islands Branch		25,000
12	Société Générale		25,000
13	UBS Loan Finance LLC		25,000
14	Allied Irish Banks, p.l.c.		15,000
15	Chang Hwa Commercial Bank, Ltd., New York Branch		15,000
16	Mega International Commercial Bank Co., Ltd Los Angeles Branch		15,000
17	Comerica Bank		10,000
18	First Commercial Bank New York Agency		10,000
	Total Commitments - Revolving Credit Facility	$	750,000

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

Note: The revolving credit facility has a $515.0 million sub-facility for multi-currency advances.

Page 15

DIGITAL REALTY TRUST, INC.

Third Quarter 2009

Debt Maturities

(unaudited, in thousands)

Property	2009		2010		2011		2012		2013		Thereafter		Total
Revolving credit facility (1)	$	—	$	—	$	—	$	149,838	$	—	$	—	$	149,838
Secured Term Debt (2)		621		2,550		2,700		2,836		3,026		132,965		144,698
3 Corporate Place (1)		—		—		—		—		80,000		—		80,000
200 Paul Avenue 1-4		395		1,624		1,721		1,812		1,932		70,714		78,198
2045 & 2055 LaFayette Street		204		835		886		941		999		63,610		67,475
600 West Seventh Street		330		1,367		1,448		1,535		1,626		49,548		55,854
1100 Space Park Drive		56		648		687		720		774		52,115		55,000
34551 Ardenwood Boulevard 1-4		55		639		678		711		765		52,152		55,000
150 South First Street		148		596		635		677		722		50,129		52,907
114 Rue Ambroise Croizat		180		720		720		44,598		—		—		46,218
1500 Space Park Drive		469		1,942		2,067		2,192		35,682		—		42,352
Mundells Roundabout		—		—		—		—		68,443		—		68,443
2334 Lundy Place		40		464		493		517		556		37,930		40,000
Unit 9, Blanchardstown Corporate Park		155		619		619		38,344		—		—		39,737
Unsecured senior notes		—		—		25,000		—		33,000		25,000		83,000
6 Braham Street		160		639		19,977		—		—		—		20,776
1201 Comstock Street (1)		183		762		813		16,162		—		—		17,920
Datacenter Park — Dallas (1)		—		850		808		15,342		—		—		17,000
Paul van Vlissingenstraat 16		61		246		246		246		14,798		—		15,597
Chemin de l’Epinglier 2		44		177		177		177		10,753		—		11,328
Gyroscoopweg 2E-2F		39		156		156		156		9,423		—		9,930
1125 Energy Park Drive		35		143		154		8,906		—		—		9,238
731 East Trade Street		53		235		274		297		323		4,186		5,368
4.125 % exchangeable senior debentures due 2026 (3)		—		—		172,500		—		—		—		172,500
5.50% exchangeable senior debentures due 2029 (4)		—		—		—		—		—		266,400		266,400
Total	$	3,228	$	15,212	$	232,759	$	286,007	$	262,822	$	804,749	$	1,604,777

Weighted Average Term to Initial Maturity (3)(4)	4.3 Years
Weighted Average Term to Initial Maturity (assuming exercise of extension options) (3)(4)	4.6 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) Assumes maturity of 4.125% exchangeable senior debentures due 2026 at first redemption date in August 2011.

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

Note: Total excludes $2,167 of loan premiums and ($7,674) of debt discount on 4.125% exchangeable senior debentures due 2026.

Page 16

DIGITAL REALTY TRUST, INC.

Third Quarter 2009

Portfolio Summary

As of September 30, 2009

	9/30/2009		6/30/2009
Number of Properties:
Domestic	64		61
International	14		14
	78	(1)	75	(1)
Number of Buildings:
Domestic	90		81
International	18		18
	108		99
Number of Markets:
Domestic	20		20
International	7		7
	27		27
Net Rentable Square Feet:
Domestic	10,762,478		10,673,413
International	1,202,044		1,181,473
	11,964,522		11,854,886
Redevelopment Square Feet:
Domestic	1,675,243		925,999
International	201,642		222,213
	1,876,885		1,148,212
Portfolio Occupancy (2)	95.2	%	94.8	%
Same Store Pool Occupancy (2)	95.1	%	94.7	%
Average Original Lease Term (years)	13.8		13.7
Average Remaining Lease Term (years)	7.6		7.5
Lease Expirations (through 2010)	6.0	%	8.2	%

(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.

Third Quarter 2009

Properties Acquired

For the three months ended September 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 (1)
1525 Comstock Street (2)	Silicon Valley	Sep-09		26.4		42,385	—	99.2	%
Digital Realty Trust Datacenter Park (4)	Dallas	Sep-09		1.9	(3)	—	796,226	0.0	%
444 Toyama Drive	Silicon Valley	Sep-09		17.5		42,083	—	100.0	%
			$	45.8		84,468	796,226	99.6	%

(1) Occupancy percentages are calculated net of square footage held for redevelopment.

(2) Acquisition of remaining portion of joint venture that owns this building. Net rentable square footage has been previously reported.

(3) Represents a portion of the initial contribution to be invested, which will, following additional capital contributions, result in a 60% ownership interest in a joint venture that owns this datacenter park under redevelopment. Since we control the joint venture, we have consolidated the joint venture in the accompanying consolidated financial statements.

(4) The seven buildings at Digital Realty Trust Datacenter Park are considered one property for our property count.

Page 18

DIGITAL REALTY TRUST, INC.

Third Quarter 2009

Occupancy Analysis

As of September 30, 2009

(Dollar amounts in thousands)

						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	Annualized Rent ($000) (1)	As of 09/30/09		As of 06/30/09		As of 03/31/09		As of 12/31/08		Property Type		Total Portfolio		Property Type		Total Portfolio
Internet Gateway Datacenters
350 East Cermak Road	May-05	Chicago	1,076,676	57,063	51,933	95.9	%	90.6	%	94.0	%	96.0	%	27.9	%	9.0	%	27.7	%	11.1	%
200 Paul Avenue 1-4	Nov-04	San Francisco	436,299	91,381	23,909	99.9	%	99.9	%	95.1	%	100.0	%	11.3		3.6		12.8		5.1
120 E. Van Buren Street	Jul-06	Phoenix	254,497	33,017	19,443	94.0	%	91.7	%	91.7	%	91.7	%	6.6		2.1		10.4		4.2
111 Eighth Avenue (3)	Mar-07	New York/New Jersey	116,843	—	18,240	100.0	%	100.0	%	100.0	%	100.0	%	3.0		1.0		9.7		3.9
600 West Seventh Street	May-04	Los Angeles	482,089	7,633	16,744	94.4	%	94.1	%	94.6	%	94.6	%	12.5		4.0		8.9		3.6
114 Rue Ambroise Croizat	Dec-06	Paris, France	281,888	70,258	15,617	95.7	%	99.3	%	99.1	%	95.4	%	7.3		2.4		8.3		3.4
2323 Bryan Street	Jan-02	Dallas	457,217	19,890	14,281	78.3	%	76.4	%	77.1	%	77.0	%	11.9		3.8		7.6		3.1
1100 Space Park Drive	Nov-04	Silicon Valley	165,297	—	7,660	100.0	%	100.0	%	99.1	%	99.1	%	4.3		1.4		4.1		1.6
600-780 S. Federal	Sep-05	Chicago	161,547	—	4,745	69.4	%	69.4	%	69.4	%	81.9	%	4.2		1.5		2.5		1.0
36 NE 2nd Street	Jan-02	Miami	162,140	—	4,743	95.9	%	95.9	%	95.9	%	95.9	%	4.2		1.4		2.5		1.0
900 Walnut Street	Aug-07	St Louis	112,266	—	3,614	92.9	%	97.3	%	93.5	%	93.5	%	2.9		0.9		1.9		0.8
6 Braham Street	Jul-02	London, England	63,233	—	3,548	100.0	%	100.0	%	100.0	%	100.0	%	1.6		0.5		1.9		0.8
125 North Myers	Aug-05	Charlotte	25,402	—	1,244	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		0.6		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
			3,856,359	288,374	187,640	93.2	%	91.7	%	92.0	%	93.4	%	100.0	%	32.3	%	100.0	%	40.4	%
Corporate Datacenters
43881 Devon Shafron Drive	Mar-07	Northern Virginia	180,000	—	17,456	98.5	%	99.0	%	83.5	%	100.0	%	2.6	%	1.5	%	7.0	%	3.8	%
3 Corporate Place	Dec-05	New York/New Jersey	276,162	769	14,626	95.6	%	93.7	%	89.5	%	89.5	%	4.1		2.3		5.9		3.1
300 Boulevard East	Nov-02	New York/New Jersey	311,950	—	14,208	100.0	%	100.0	%	100.0	%	100.0	%	4.6		2.6		5.7		3.1
833 Chestnut Street	Mar-05	Philadelphia	588,770	65,988	11,361	86.4	%	89.5	%	87.9	%	87.7	%	8.7		4.9		4.6		2.4
43791 Devon Shafron Drive	Mar-07	Northern Virginia	132,806	2,194	9,752	100.0	%	100.0	%	100.0	%	100.0	%	2.0		1.1		3.9		2.1
Clonshaugh Industrial Estate II	Feb-06	Dublin, Ireland	124,500	—	9,405	100.0	%	100.0	%	100.0	%	100.0	%	1.8		1.0		3.8		2.0
2440 Marsh Lane	Jan-03	Dallas	116,513	18,737	9,163	77.6	%	77.6	%	60.0	%	70.9	%	1.7		1.0		3.7		2.0
Unit 9, Blanchardstown Corporate Park	Dec-06	Dublin, Ireland	120,000	—	8,914	86.2	%	86.2	%	95.0	%	87.3	%	1.8		1.0		3.6		1.9
1500 Space Park Drive	Sep-07	Silicon Valley	51,615	—	8,534	100.0	%	100.0	%	100.0	%	100.0	%	0.8		0.4		3.4		1.8
3011 Lafayette Street	Jan-07	Silicon Valley	90,780	—	8,479	100.0	%	100.0	%	100.0	%	100.0	%	1.3		0.8		3.4		1.8
1525 Comstock Street	Sep-09	Silicon Valley	42,385	—	8,419	99.2	%	98.3	%	0.0	%	0.0	%	0.6		0.4		3.4		1.8
4025 Midway Road	Jan-06	Dallas	87,964	12,626	8,231	99.8	%	99.8	%	99.8	%	99.8	%	1.3		0.7		3.3		1.8
2055 East Technology Circle	Oct-06	Phoenix	76,350	—	7,553	100.0	%	100.0	%	100.0	%	100.0	%	1.1		0.6		3.0		1.6
Mundells Roundabout	Apr-07	London, England	113,464	—	7,241	100.0	%	100.0	%	100.0	%	0.0	%	1.7		0.9		2.9		1.6
2045 & 2055 LaFayette Street	May-04	Silicon Valley	300,000	—	6,480	100.0	%	100.0	%	100.0	%	100.0	%	4.4		2.5		2.6		1.4
150 South First Street	Sep-04	Silicon Valley	179,761	—	5,977	99.5	%	100.0	%	100.0	%	100.0	%	2.6		1.5		2.4		1.3
11830 Webb Chapel Road	Aug-04	Dallas	365,647	—	5,974	95.0	%	95.0	%	95.0	%	95.0	%	5.4		3.1		2.4		1.3
14901 FAA Boulevard	Jun-06	Dallas	263,700	—	4,700	100.0	%	100.0	%	100.0	%	100.0	%	3.9		2.2		1.9		1.0
2334 Lundy Place	Dec-02	Silicon Valley	130,752	—	4,600	100.0	%	100.0	%	100.0	%	100.0	%	1.9		1.1		1.9		1.0
375 Riverside Parkway	Jun-03	Atlanta	220,016	30,175	4,409	100.0	%	100.0	%	100.0	%	100.0	%	3.2		1.8		1.8		0.9
1201 Comstock Street	Jun-08	Silicon Valley	24,000	—	4,197	100.0	%	100.0	%	100.0	%	0.0	%	0.4		0.2		1.7		0.9
44470 Chilum Place	Feb-07	Northern Virginia	95,440	—	4,003	100.0	%	100.0	%	100.0	%	100.0	%	1.4		0.8		1.6		0.9
12001 North Freeway	Apr-06	Houston	280,483	20,222	3,815	75.4	%	75.4	%	95.5	%	98.5	%	4.1		2.3		1.5		0.8
Cressex 1	Dec-07	London, England	50,847	—	3,680	90.6	%	90.6	%	87.2	%	0.0	%	0.7		0.4		1.5		0.8
115 Second Avenue	Oct-05	Boston	66,730	—	3,437	100.0	%	100.0	%	100.0	%	100.0	%	1.0		0.6		1.4		0.7
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		0.7
8534 Concord Center Drive	Jun-05	Denver	85,660	—	3,362	100.0	%	100.0	%	100.0	%	100.0	%	1.3		0.7		1.4		0.7
365 S. Randolphville Road	Feb-08	New York/New Jersey	19,354	245,438	3,104	100.0	%	0.0	%	0.0	%	0.0	%	0.3		0.2		1.3		0.7
Naritaweg 52	Dec-07	Amsterdam, Netherlands	63,260	—	2,735	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
1807 Michael Faraday Court	Oct-06	Northern Virginia	19,237	—	2,470	97.1	%	84.1	%	100.0	%	100.0	%	0.3		0.2		1.0		0.5
Paul van Vlissingenstraat 16	Aug-05	Amsterdam, Netherlands	77,472	35,000	2,307	58.8	%	58.8	%	58.8	%	58.8	%	1.1		0.6		0.9		0.5
200 North Nash Street	Jun-05	Los Angeles	113,606	—	2,305	100.0	%	100.0	%	100.0	%	100.0	%	1.7		0.9		0.9		0.5
210 N Tucker Boulevard	Aug-07	St Louis	139,588	62,000	2,295	78.4	%	78.4	%	94.1	%	94.1	%	2.1		1.2		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
4700 Old Ironsides Drive	Jun-05	Silicon Valley	90,139	—	1,829	100.0	%	100.0	%	100.0	%	100.0	%	1.3		0.8		0.7		0.4
Manchester Technopark, Plot C1	Jun-08	Manchester, England	38,016	—	1,759	100.0	%	100.0	%	100.0	%	100.0	%	0.6		0.3		0.7		0.4
444 Toyama Drive	Sep-09	Silicon Valley	42,083	—	1,725	100.0	%	N/A		N/A		N/A		0.6		0.4		0.7		0.4

Page 19

DIGITAL REALTY TRUST, INC.

Third Quarter 2009

Occupancy Analysis

As of September 30, 2009

(Dollar amounts in thousands)

								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	Annualized Rent ($000) (1)		As of 09/30/09		As of 06/30/09		As of 03/31/09		As of 12/31/08		Property Type		Total Portfolio		Property Type		Total Portfolio
4650 Old Ironsides Drive	Jun-05	Silicon Valley	84,383		—		1,712	100.0	%	100.0	%	100.0	%	100.0	%	1.2		0.7		0.7		0.4
Chemin de l’Epinglier 2	Nov-05	Geneva, Switzerland	59,190		—		1,697	100.0	%	100.0	%	100.0	%	100.0	%	0.9		0.5		0.7		0.4
7505 Mason King Court	Nov-08	Northern Virginia	109,650		—		1,694	100.0	%	100.0	%	100.0	%	0.0	%	1.6		0.9		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		0.6		0.3
6800 Millcreek Drive	Apr-06	Toronto, Canada	83,758		—		1,530	100.0	%	100.0	%	100.0	%	100.0	%	1.2		0.7		0.6		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	%	1.0		0.6		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		0.9		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	%	4.6		2.6		0.6		0.3
Gyroscoopweg 2E-2F	Jul-06	Amsterdam, Netherlands	55,585		—		1,287	100.0	%	100.0	%	100.0	%	100.0	%	0.8		0.5		0.5		0.3
8100 Boone Boulevard	Oct-06	Northern Virginia	17,015		—		814	100.0	%	100.0	%	100.0	%	100.0	%	0.3		0.1		0.3		0.2
600 Winter Street	Sep-06	Boston	30,400		—		794	100.0	%	100.0	%	100.0	%	100.0	%	0.4		0.3		0.3		0.2
2300 NW 89th Place	Sep-06	Miami	64,174		—		616	100.0	%	100.0	%	100.0	%	100.0	%	0.9		0.5		0.2		0.1
7620 Metro Center Drive	Dec-05	Austin	45,000		—		605	100.0	%	100.0	%	100.0	%	100.0	%	0.7		0.4		0.2		0.1
Clonshaugh Industrial Estate	Feb-06	Dublin, Ireland	20,000		—		512	100.0	%	100.0	%	100.0	%	100.0	%	0.3		0.2		0.2		0.1
1 St. Anne’s Boulevard	Dec-07	London, England	20,219		—		265	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	%	—		—		—		—
904 Quality Way	Sep-09	Dallas	—		46,750		—	0.0	%	0.0	%	0.0	%	0.0	%	—		—		—		—
905 Quality Way	Sep-09	Dallas	—		249,657		—	0.0	%	0.0	%	0.0	%	95.1	%	—		—		—		—
650 Randolph Road	Jun-08	New York/New Jersey	—		127,790		—	0.0	%	0.0	%	0.0	%	0.0	%	—		—		—		—
1232 Alma Road	Sep-09	Dallas	—		105,726		—	0.0	%	0.0	%	0.0	%	0.0	%	—		—		—		—
900 Quality Way	Sep-09	Dallas	—		112,253		—	0.0	%	0.0	%	0.0	%	0.0	%	—		—		—		—
1400 N Bowser Way	Sep-09	Dallas	—		246,940		—	0.0	%	0.0	%	0.0	%	0.0	%	—		—		—		—
1301 International Parkway	Sep-09	Dallas	—		20,500		—	0.0	%	0.0	%	0.0	%	0.0	%	—		—		—		—
			6,804,945		1,574,111		248,512	95.7	%	95.8	%	96.1	%	95.1	%	100.0	%	56.8	%	100.0	%	53.5	%
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	%	55.4	%	1.9	%
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		0.8
2010 East Centennial Circle	May-03	Phoenix	113,405		—		2,852	100.0	%	100.0	%	100.0	%	100.0	%	17.9		0.9		18.1		0.6
2 St. Anne’s Boulevard	Dec-07	London, England	30,612		14,400		400	100.0	%	100.0	%	100.0	%	100.0	%	4.8		0.3		2.5		0.1
			634,724		14,400		15,780	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	5.3	%	100.0	%	3.4	%
Technology Office
100 & 200 Quannapowitt Parkway	Jun-04	Boston	386,956		—		7,222	94.9	%	94.9	%	94.9	%	94.9	%	57.9	%	3.2	%	56.8	%	1.5	%
4849 Alpha Road	Apr-04	Dallas	125,538		—		2,856	100.0	%	100.0	%	100.0	%	100.0	%	18.8		1.1		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
908 Quality Way	Sep-09	Dallas	—		14,400		—	0.0	%	N/A		N/A		N/A		—		—		—		—
			668,494		14,400		12,722	97.0	%	97.0	%	97.0	%	97.0	%	100.0	%	5.6	%	100.0	%	2.7	%
Portfolio Total /Weighted Average			11,964,522	(4)	1,891,285	$	464,654	95.2	%	94.8	%	95.1	%	94.9	%	100.0	%	100.0	%	100.0	%	100.0	%

(1) Annualized rent represents the monthly contractual rent under existing leases as of September 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 98.4% occupied as of September 30, 2009.

Page 20

DIGITAL REALTY TRUST, INC.

Third Quarter 2009

Major Tenants

as of September 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	14.2	%	$	44,562	9.6	%	114
2	Equinix Operating Company, Inc. (3)	4	606,316	5.1	%	$	23,081	5.0	%	98
3	Qwest Communications International, Inc.	15	637,712	5.3	%	$	20,395	4.4	%	73
4	Facebook, Inc.	3	134,999	1.1	%	$	16,911	3.6	%	92
5	NTT Communications Company	4	295,032	2.5	%	$	16,671	3.6	%	66
6	TelX Group, Inc.	10	120,825	1.0	%	$	15,179	3.3	%	206
7	JPMorgan Chase & Co.	3	149,935	1.3	%	$	14,021	3.0	%	123
8	Morgan Stanley	2	92,451	0.8	%	$	13,554	2.9	%	52
9	AT & T	12	389,375	3.3	%	$	11,873	2.6	%	121
10	Yahoo! Inc.	2	110,847	0.9	%	$	9,763	2.1	%	97
11	eircom Limited	1	124,500	1.0	%	$	9,405	2.0	%	118
12	BT Americas, Inc.	3	47,286	0.4	%	$	8,952	1.9	%	99
13	T-Systems North America, Inc.	3	82,610	0.7	%	$	8,826	1.9	%	51
14	Microsoft Corporation	2	313,485	2.6	%	$	7,998	1.7	%	70
15	Carpathia Hosting	2	37,063	0.3	%	$	7,470	1.6	%	109
16	HSBC Bank PLC	1	113,464	0.9	%	$	7,241	1.6	%	171
17	Comverse Technology, Inc.	1	367,033	3.1	%	$	7,222	1.6	%	16
18	Level 3 Communications, LLC (4)(5)	19	255,423	2.1	%	$	6,877	1.5	%	119
19	Horizon Data Center Solutions	2	52,077	0.4	%	$	6,810	1.5	%	88
20	TATA Communications	2	105,366	0.9	%	$	6,742	1.5	%	102
	Total/Weighted Average		5,737,438	47.9	%	$	263,553	56.9	%	97

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

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

(3) Equinix Operating Company, Inc. acquired Switch & Data Facilities Company, Inc. on October 20, 2009. On a pro forma basis, total occupied square feet and annualized rent would be 705,069 and $26,526, respectively.

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

(5) 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.

Page 21

DIGITAL REALTY TRUST, INC.

Third 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	Datacenter Park - Dallas	Dallas	40
8	44470 Chilum Place	Northern Virginia	36
9	150 South First Street	Silicon Valley	36
10	101 Aquila Way	Atlanta	30
11	365 South Randolphville Road	New York	26
12	14901 FAA Boulevard	Dallas	25
13	2401 Walsh Street	Silicon Valley	25
14	2403 Walsh Street	Silicon Valley	25
15	4700 Old Ironsides Drive	Silicon Valley	25
	Total Potential Power Capacity - Top 15 Properties		776

(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.

Page 22

DIGITAL REALTY TRUST, INC.

Third Quarter 2009

Lease Expirations and Lease Distribution

Lease Expirations

As of September 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		576,626	4.8	%		—	0.0	%
2009 (3)	105	245,890	2.1	%		7,590	1.6	%	$	30.87		26.97		6,632
2010	91	471,116	3.9	%		21,516	4.6	%	$	45.67		46.76		22,031
2011	100	1,260,048	10.5	%		32,785	7.1	%	$	26.02		26.71		33,656
2012	104	154,920	1.3	%		15,293	3.3	%	$	98.72		105.57		16,355
2013	78	1,028,730	8.6	%		51,744	11.1	%	$	50.30		55.51		57,106
2014	89	841,179	7.0	%		43,375	9.3	%	$	51.56		59.09		49,702
2015	80	1,867,362	15.6	%		61,985	13.3	%	$	33.19		36.66		68,462
2016	60	843,582	7.1	%		31,980	6.9	%	$	37.91		44.05		37,160
2017	34	550,868	4.6	%		17,022	3.7	%	$	30.90		36.99		20,377
2018	48	576,050	4.8	%		28,189	6.1	%	$	48.93		65.07		37,486
Thereafter	153	3,548,151	29.7	%		153,175	33.0	%	$	43.17		57.90		205,452
Portfolio Total / Weighted Average	942	11,964,522	100.0	%	$	464,654	100.0	%	$	40.80	$	48.68	$	554,419

Lease Distribution

As of September 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				576,626	4.8	%		—	—
2,500 or less	557	59.1	%	298,231	2.5	%		41,238	8.9	%
2,501 - 10,000	183	19.4	%	1,032,158	8.6	%		65,776	14.2	%
10,001 - 20,000	68	7.2	%	1,275,864	10.7	%		60,108	12.9	%
20,001 - 40,000	60	6.4	%	1,815,098	15.2	%		95,413	20.5	%
40,001 - 100,000	46	4.9	%	2,904,764	24.3	%		104,702	22.5	%
Greater than 100,000	28	3.0	%	4,061,781	33.9	%		97,417	21.0	%
Portfolio Total	942	100.0	%	11,964,522	100.0	%	$	464,654	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 September 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.

Page 23

DIGITAL REALTY TRUST, INC.

Third Quarter 2009

Leasing Activity

As of September 30, 2009

	For the Three Months Ended September 30, 2009		% Leased
Occupied Square Feet as of June 30, 2009 (1)	11,233,813			94.8	%
3Q 2009 Acquisitions:
444 Toyama	42,083			100.0	%
Occupied Square Feet including 3Q 2009 Acquisitions (1)	11,275,896			94.2	%
Expirations, Terminations and Reductions	(20,699	)		(0.2	)%
New Leases and Expansions	100,518			0.9	%
Remeasurements (2)	32,181			0.3	%
Occupied Square Feet as of September 30, 2009 (1)	11,387,896			95.2	%
GAAP Rent Growth (3)
Expiring Rent per Square Foot			$	73.44
New Rent per Square Foot			$	169.96
Percentage Increase				131.4	%
Weighted Average Lease Term - New (in months)				115

(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.

Third Quarter 2009

Tenant Improvements and Leasing Commissions

	Three Months Ended								Full Year 2008
	9/30/2009		6/30/2009		3/31/2009		12/31/2008
Renewals (1)
Number of renewals		28		19		13		10		29
Square Feet		453,840		308,205		163,216		25,866		151,114
Tenant improvement costs per square foot (2)	$	2.66	$	0.17	$	0.14	$	3.08	$	2.17
Leasing commission costs per square foot (2)	$	7.35	$	10.26	$	6.04	$	5.38	$	6.72
Total renewal lease costs per square foot	$	10.01	$	10.43	$	6.18	$	8.46	$	8.89
New Leases (3)
Number of non-redevelopment leases		8		17		12		12		64
Non-Redevelopment square feet		2,289		35,875		121,926		135,884		257,354
Non-Redevelopment tenant improvement costs per square foot (2)	$	28.40	$	12.97	$	0.57	$	—	$	12.87
Non-Redevelopment leasing commission costs per square foot (2)	$	11.55	$	12.42	$	2.79	$	9.85	$	10.97
Number of redevelopment leases		17		10		16		13		78
Redevelopment square feet		98,229		79,255		328,538		184,092		912,942
Redevelopment tenant improvement costs per square foot (2) (4)	$	5.09	$	14.89	$	1.35	$	3.11	$	2.97
Redevelopment leasing commission costs per square foot (2)	$	12.74	$	20.67	$	12.39	$	17.62	$	11.79
Total Number of Leases		25		27		28		25		142
Total Square Feet		100,518		115,130		450,464		319,976		1,170,296
Total new lease costs per square foot	$	18.33	$	32.39	$	10.93	$	16.11	$	16.76
Total (5)
Number of leases		53		46		41		35		171
Square Feet		554,358		423,335		613,680		345,842		1,321,410
Tenant improvement costs per square foot (2)	$	3.20	$	4.01	$	0.87	$	1.89	$	4.81
Leasing commission costs per square foot (2)	$	8.32	$	12.39	$	8.79	$	13.65	$	11.05
Total costs per square foot	$	11.52	$	16.40	$	9.66	$	15.54	$	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.

Page 25

DIGITAL REALTY TRUST, INC.

Third Quarter 2009

Historical Capital Expenditures

	Three Months Ended
	9/30/2009		6/30/2009		3/31/2009		12/31/2008		9/30/2008		6/30/2008		3/31/2008
Recurring capital expenditures (1) (2)	$	4,803,000	$	9,628,000	$	4,779,000	$	7,380,000	$	5,489,000	$	5,272,000	$	7,349,000
Non-recurring capital expenditures (2)	$	66,272,000	$	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		11,964,522		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 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.

Page 26

DIGITAL REALTY TRUST, INC.

Third Quarter 2009

Redevelopment Activity

For the quarter ended September 30, 2009

(Square feet)

Activity for the quarter ended September 30, 2009	US		Europe		Total		% Leased (1)
Redevelopment Space as of June 30, 2009	925,999		222,213		1,148,212
Acquired Redevelopment Space and New Construction Space	796,226		—		796,226
Converted Redevelopment Space:
Turn-Key Datacenter®	(39,585	)	(19,760	)	(59,345	)	100.0	%
Powered Base Building®	(7,397	)	(811	)	(8,208	)	100.0	%
Remeasurement Adjustments	—		—		—
Redevelopment Space as of September 30, 2009	1,675,243		201,642		1,876,885
Redevelopment Space Under Construction at Quarter End	US		Europe		Total		% Leased (2)
Turn-Key Datacenter®	90,453		53,000		143,453		46.8	%
Build-to-Suit	—		—		—
New Powered Base Building® Shell	—		—		—
Redevelopment Space Under Construction as of September 30, 2009	90,453		53,000		143,453
New Development Space Under Construction at Quarter End (3)	US		Europe		Total
New Powered Base Building® Shell	135,000		—		135,000

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

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

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

Page 27

DIGITAL REALTY TRUST, INC.

Third 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