Exhibit 99.2

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

	PAGE
Corporate Data
Corporate Information	4
Ownership Structure	5
Consolidated Financial Information
Key Quarterly Financial Data	6
Consolidated Balance Sheets	7
Consolidated Quarterly Statements of Operations	8
Funds From Operations and Adjusted Funds From Operations	9
Reconciliation of Earnings Before Interest, Taxes, Depreciation and Amortization and Financial Ratios	10
Net Operating Income (NOI) and Run-rate NOI for the Three Months Ended June 30, 2010	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
Debt Analysis & Covenant Compliance	17
Portfolio Data
Portfolio Summary	18
Properties Acquired	19
Occupancy Analysis	20
Major Tenants	22
Lease Expirations & Lease Distribution	23
Lease Expirations — By Property Type	24
Leasing Activity	26
Tenant Improvements and Leasing Commissions	27
Historical Capital Expenditures	28
Redevelopment Activity	29
Definitions
Management Statements on Non-GAAP Supplemental Measures	30

Page 2

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

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, trends, leasing expectations, weighted average remaining lease terms, the exercise of lease extensions, lease expirations, debt maturities, annualized rent at expiration of leases, the effect new leases and increases in rental rates will have on our rental revenue and other forward-looking financial data. 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 recent deterioration in global economic, credit and market conditions;

• current local economic conditions in our geographic markets;

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

• adverse economic or real estate developments in our industry or the industry sectors that we sell to (including risks relating to decreasing real estate valuations and impairment charges);

• our dependence upon significant tenants;

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

• defaults on or non-renewal of leases by tenants;

• our failure to obtain necessary debt and equity financing;

• increased interest rates and operating costs;

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

• financial market fluctuations;

• changes in foreign currency exchange rates;

• our ability to manage our growth effectively;

• difficulty acquiring or operating properties in foreign jurisdictions;

• our failure to successfully operate acquired or redeveloped properties;

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

• delays or unexpected costs in development or redevelopment of properties;

• decreased rental rates or increased vacancy rates;

• increased competition or available supply of data center space;

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

• our difficulties in identifying properties to acquire and completing acquisitions;

• our inability to acquire off-market properties;

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

• our failure to maintain our status as a REIT;

• potential 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, 2009, and other filings with the Securities and Exchange Commission. Those risks continue to be relevant to our performance and financial condition. Moreover, we operate in a very competitive and rapidly changing environment. New risk factors emerge from time to time and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such risk factors on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. We expressly disclaim any responsibility to update forward-looking statements, whether as a result of new information, future events or otherwise.

Page 3

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Corporate Information

Corporate Profile

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. The Company’s 87 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 13.3 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

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	UBS	JMP Securities	Deutsche Bank	Macquarie
Andrew Rossivach	Ross Nussbaum	William C. Marks	John Perry	Rob Stevenson
(415) 249-7941	(212) 713-2484	(415) 835-8944	(212) 250-4912	(212) 231-8068
Suzanne Kim	Robert Salisbury	Mitch Germain	Vincent Chao	Nicolas Yulico
(415) 249-7943	(212) 713-4760	(212) 906-3546	(212) 250-6799	(212) 231-8028
Green Street	FBR	Citigroup	Baird	Bank of America
Lukas Hartwich	Sri Nagarajan	Michael Bilerman	Christopher R. Lucas	Jeffrey Spector
(949) 640-8780	(646) 885-5429	(212) 816-1685	(703) 821-5780	(646) 855-1363
John Stewart	Evan Smith	Mark Montandon	David S. Nebinski	Jana Galan
(949) 640-8780	(646) 885-6431	(212) 816-1685	(703) 918-7854	(646) 855-3081
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
Oppenheimer	Guggenheim
Srinivas Anantha	Michael Bowen
(617) 428-5960	(212) 381-4162
	Brian Siu
	(212) 292-4778

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 Trust’s common stock (DLR):

	2nd Quarter 2010			1st Quarter 2010			4th Quarter 2009			3rd Quarter 2009			2nd Quarter 2009			1st Quarter 2009
High Price *	$	64.17		$	56.60		$	50.81		$	48.21		$	39.84		$	35.70
Low Price *	$	51.77		$	46.21		$	42.94		$	34.27		$	32.14		$	24.96
Closing Price, end of quarter *	$	57.68		$	54.20		$	50.28		$	45.71		$	35.85		$	33.18
Average daily trading volume *		1,254,652			975,779			1,149,605			1,362,583			2,258,424			2,074,752
Indicated dividend per common share **	$	1.920		$	1.920		$	1.800		$	1.440		$	1.320		$	1.320
Closing annual dividend yield, end of quarter		3.3	%		3.5	%		3.6	%		3.2	%		3.7	%		4.0	%
Closing shares and units outstanding end of quarter ***		92,586,978			83,638,744			82,231,880			82,173,996			82,013,377			81,980,716
Closing market value of shares and units outstanding (thousands), end of quarter	$	5,340,417		$	4,533,220		$	4,134,619		$	3,756,173		$	2,940,180		$	2,720,120

* New York Stock Exchange trades only.

** On an annual basis.

*** As of June 30, 2010, the total number of shares and units includes 87,049,946 shares of common stock, 3,970,549 common units held by third parties and 1,566,483 common units, vested and unvested long-term incentive units and vested and unvested class C units held by officers and directors, and excludes 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 series D cumulative convertible preferred stock.

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

Page 4

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Ownership Structure

As of June 30, 2010

Partner	# of Units (2)	% Ownership
Digital Realty Trust, Inc.	87,049,946	94.0	%
Cambay Tele.com, LLC (3)	3,937,827	4.3	%
Wave Exchange, LLC (3)	32,722	0.0	%
Directors, Executive Officers and Others	1,566,483	1.7	%
Total	92,586,978	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 87,049,946 shares of common stock, 3,970,549 common units held by third parties and 1,566,483 common units, vested and unvested long-term incentive units and vested and unvested class C units held by officers and directors, and excludes 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 series D cumulative convertible preferred stock.

(3) These third-party contributors received the common units (along with cash and our 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 409,913 common units held by the members of Cambay Tele.com, LLC.

Page 5

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Key Quarterly Financial Data

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

	For the three months ended or as of
	30-Jun-10			31-Mar-10			31-Dec-09			30-Sep-09			30-Jun-09			31-Mar-09
Shares and Units at End of Quarter
Common shares outstanding		87,049,946			78,176,655			76,812,783			76,519,219			76,140,807			76,042,511
Common units outstanding		5,537,032			5,462,089			5,419,097			5,654,777			5,872,570			5,938,205
Total shares and operating partnership units		92,586,978			83,638,744			82,231,880			82,173,996			82,013,377			81,980,716
Enterprise Value
Market value of common equity (1)	$	5,340,417		$	4,533,220		$	4,134,619		$	3,756,173		$	2,940,180		$	2,720,120
Liquidation value of preferred equity		686,611			686,637			686,637			686,637			686,637			686,637
Total debt at balance sheet carrying value		2,124,710			2,168,209			1,784,444			1,599,270			1,519,506			1,439,688
Total enterprise value	$	8,151,738		$	7,388,066		$	6,605,700		$	6,042,080		$	5,146,323		$	4,846,445
Total debt/Total enterprise value		26.1	%		29.3	%		27.0	%		26.5	%		29.5	%		29.7	%
Selected Balance Sheet Data
Investments in real estate (before depreciation)	$	4,094,476		$	4,003,523		$	3,616,714		$	3,416,083		$	3,283,874		$	3,155,062
Total assets		4,501,032			4,147,586			3,745,059			3,532,418			3,444,708			3,351,613
Total liabilities		2,469,143			2,499,081			2,110,258			1,878,259			1,773,344			1,705,537
Selected Operating Data
Total operating revenues from continuing operations	$	197,464		$	191,779		$	169,774		$	163,227		$	155,007		$	149,134
Total operating expenses from continuing operations		143,314			136,584			119,690			117,571			112,161			109,931
Interest expense from continuing operations		33,162			30,902			24,451			22,559			22,495			18,937
Net income		19,902			25,586			24,897			23,945			21,203			21,189
Net income available to common stockholders		9,091			14,744			14,286			12,406			10,271			10,295
Financial Ratios
EBITDA (2)	$	104,188		$	103,894		$	90,840		$	85,737		$	82,241		$	75,972
Adjusted EBITDA (3)	$	114,999		$	114,736		$	101,451		$	97,276		$	93,173		$	86,866
Cash interest expense (4)	$	27,062		$	22,231		$	23,915		$	19,812		$	16,695		$	21,398
Fixed charges (5)	$	40,613		$	35,326		$	37,263		$	32,981		$	29,721		$	34,505
Debt service coverage ratio (6)		4.2x			5.2x			4.2x			4.9x			5.6x			4.1x
Fixed charge coverage ratio (7)		2.8x			3.2x			2.7x			2.9x			3.1x			2.5x
Profitability Measures
Net income per common share—basic	$	0.11		$	0.19		$	0.19		$	0.16		$	0.13		$	0.14
Net income per common share—diluted	$	0.11		$	0.18		$	0.18		$	0.16		$	0.13		$	0.14
Funds From Operations (FFO) per diluted share and unit (8)	$	0.76		$	0.81		$	0.79		$	0.74		$	0.71		$	0.70
Adjusted Funds From Operations (AFFO) per diluted share and unit (9)	$	0.65		$	0.67		$	0.62		$	0.59		$	0.51		$	0.53
Dividends per share and common unit	$	0.48		$	0.48		$	0.45		$	0.36		$	0.33		$	0.33
Diluted FFO payout ratio (10)		63.4	%		59.2	%		57.3	%		48.9	%		46.5	%		47.4	%
Diluted AFFO payout ratio (11)		73.3	%		71.4	%		72.2	%		61.0	%		64.7	%		62.3	%
Portfolio Statistics
Buildings		122			118			114			108			99			99
Properties		87			84			81			78			75			75
Net rentable square feet, excluding redevelopment space		13,270,035			13,211,992			12,573,634			11,964,522			11,854,886			11,784,573
Square feet held for redevelopment (12)		1,916,028			1,828,598			1,784,386			1,876,885			1,148,212			1,218,525
Occupancy at end of quarter (13)		95.0	%		95.2	%		95.0	%		95.2	%		94.8	%		95.1	%
Weighted average remaining lease term (years) (14)		7.2			7.2			7.3			7.4			7.5			7.6
Same store occupancy at end of quarter (13)(15)		95.0	%		95.0	%		94.7	%		95.2	%		94.8	%		95.1	%

(1) 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 our 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 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 series D cumulative convertible preferred stock.

(2) EBITDA is calculated as earnings before interest, taxes, depreciation and amortization. For a discussion of EBITDA, see page 30. For a reconciliation of net income available to common stockholders to EBITDA, see page 10.

(3) Adjusted EBITDA is EBITDA adjusted for preferred dividends and minority interests. For a discussion of Adjusted EBITDA, see page 30. For a reconciliation of net income available to common stockholders to Adjusted EBITDA, see page 10.

(4) 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.

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

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

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

(8) For a definition and discussion of FFO, see page 30. For a reconciliation of net income available to common stockholders to FFO, see page 9.

(9) For a definition and discussion of AFFO, see page 30. For a reconciliation of FFO to AFFO, see page 9.

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

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

(12) 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.

(13) Occupancy and same store occupancy exclude space held for redevelopment. For some of our properties, we calculate occupancy based on factors in addition to contractually leased square feet, including available power, required support space and common area.

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

(15) Same store properties were acquired before December 31, 2008.

Page 6

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Consolidated Balance Sheets

(Dollars in thousands, except share and per share data)

	June 30, 2010			December 31, 2009
	(unaudited)
ASSETS
Investments in real estate
Land	$	408,024		$	382,763
Acquired ground leases		6,096			2,767
Buildings and improvements		3,404,143			2,952,330
Tenant improvements		268,976			272,462
Investments in real estate		4,087,239			3,610,322
Accumulated depreciation and amortization		(545,834	)		(459,521	)
Net investments in properties		3,541,405			3,150,801
Investment in unconsolidated joint venture		7,237			6,392
Net investments in real estate		3,548,642			3,157,193
Cash and cash equivalents		342,623			72,320
Accounts and other receivables, net of allowance for doubtful accounts of $2,987 and $2,691 as of June 30, 2010 and December 31, 2009, respectively		52,174			46,086
Deferred rent		164,994			145,550
Acquired above market leases, net		31,633			25,861
Acquired in place lease value and deferred leasing costs, net		259,548			224,216
Deferred financing costs, net		20,477			21,073
Restricted cash		35,814			37,810
Other assets		45,127			14,950
Total Assets	$	4,501,032		$	3,745,059
LIABILITIES AND EQUITY
Revolving credit facility	$	11,628		$	205,547
Unsecured senior notes		200,000			83,000
5.875% notes due 2020, net of discount		491,746			—
4.125% exchangeable senior debentures due 2026, net of discount		131,681			165,834
5.50% exchangeable senior debentures due 2029		266,400			266,400
Mortgage loans		1,023,255			1,063,663
Accounts payable and other accrued liabilities		196,491			151,229
Accrued dividends and distributions		—			37,004
Acquired below market leases, net		85,060			69,311
Security deposits and prepaid rents		62,882			68,270
Total Liabilities		2,469,143			2,110,258
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%, $174,998,875 liquidation preference ($25.00 per share), 6,999,955 issued and outstanding		169,067			169,067
Series D Cumulative Convertible Preferred Stock, 5.500%, $344,887,500 liquidation preference ($25.00 per share), 13,794,500 and 13,795,500 issued and outstanding, respectively		333,448			333,472
Common Stock: $0.01 par value, 145,000,000 authorized, 87,049,946 and 76,812,783 shares issued and outstanding as of June 30, 2010 and December 31, 2009, respectively		868			766
Additional paid-in capital		1,645,006			1,155,709
Dividends in excess of earnings		(287,331	)		(231,871	)
Accumulated other comprehensive income, net		(65,747	)		(27,947	)
Total stockholders’ equity		1,955,110			1,558,995
Noncontrolling interests:
Noncontrolling interest in operating partnership		54,414			58,192
Noncontrolling interest in consolidated joint venture		22,365			17,614
Total noncontrolling interests		76,779			75,806
Total Equity		2,031,889			1,634,801
Total Liabilities and Equity	$	4,501,032		$	3,745,059

Page 7

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Consolidated Quarterly Statements of Operations

(unaudited and in thousands, except share and per share data)

	Three Months Ended
	30-Jun-10			31-Mar-10			31-Dec-09			30-Sep-09			30-Jun-09			31-Mar-09
Rental	$	157,867		$	152,721		$	136,467		$	130,892		$	125,490		$	118,095
Tenant reimbursements		39,597			39,058			32,459			32,222			29,434			31,021
Other		—			—			848			113			83			18
Total operating revenues		197,464			191,779			169,774			163,227			155,007			149,134
Rental property operating and maintenance		54,406			53,242			46,086			45,278			42,301			42,573
Property taxes		12,748			12,721			8,349			9,295			9,149			9,211
Insurance		1,846			1,735			1,672			1,495			1,488			1,456
Depreciation and amortization		59,860			57,532			52,126			50,439			49,183			46,304
General and administrative		12,574			10,519			10,009			10,352			9,958			9,672
Transactions		1,715			833			1,354			308			82			430
Other		165			2			94			404			—			285
Total operating expenses		143,314			136,584			119,690			117,571			112,161			109,931
Operating income		54,150			55,195			50,084			45,656			42,846			39,203
Equity in earnings of unconsolidated joint venture		955			1,978			(776	)		1,091			741			1,116
Interest and other income		34			31			17			90			403			243
Interest expense		(33,162	)		(30,902	)		(24,451	)		(22,559	)		(22,495	)		(18,937	)
Tax expense		(534	)		(716	)		23			(333	)		(292	)		(436	)
Loss from early extinguishment of debt		(1,541	)		—			—			—			—			—
Net income		19,902			25,586			24,897			23,945			21,203			21,189
Net income attributable to noncontrolling interests		(710	)		(741	)		(510	)		(1,438	)		(831	)		(793	)
Net income attributable to Digital Realty Trust, Inc.		19,192			24,845			24,387			22,507			20,372			20,396
Preferred stock dividends		(10,101	)		(10,101	)		(10,101	)		(10,101	)		(10,101	)		(10,101	)
Net income available to common stockholders	$	9,091		$	14,744		$	14,286		$	12,406		$	10,271		$	10,295
Net income per share available to common stockholders—basic	$	0.11		$	0.19		$	0.19		$	0.16		$	0.13		$	0.14
Net income per share available to common stockholders—diluted	$	0.11		$	0.18		$	0.18		$	0.16		$	0.13		$	0.14
Weighted-average shares outstanding—basic		80,542,329			77,770,691			76,649,529			76,301,577			76,121,380			74,703,755
Weighted-average shares outstanding—diluted		83,021,817			80,612,660			78,496,296			77,674,137			76,851,202			74,895,168
Weighted-average fully diluted shares and units		88,295,639			86,075,069			84,043,043			83,466,346			82,728,389			80,741,438

Page 8

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Funds From Operations (FFO)

(unaudited and in thousands, except per share data)

	Three Months Ended
	30-Jun-10			31-Mar-10			31-Dec-09			30-Sep-09			30-Jun-09			31-Mar-09
Reconciliation of net income available to common stockholders to FFO (Note):
Net income available to common stockholders	$	9,091		$	14,744		$	14,286		$	12,406		$	10,271		$	10,295
Adjustments:
Noncontrolling interests in operating partnership		560			973			984			898			757			793
Real estate related depreciation and amortization (1)		59,517			57,175			51,821			50,163			48,900			46,087
Real estate related depreciation and amortization related to investment in unconsolidated joint venture		688			773			2,335			543			858			646
FFO available to common stockholders and unitholders	$	69,856		$	73,665		$	69,426		$	64,010		$	60,786		$	57,821
FFO per share and unit:
Basic	$	0.81		$	0.89		$	0.84		$	0.78		$	0.74		$	0.72
Diluted (2)	$	0.76		$	0.81		$	0.79		$	0.74		$	0.71		$	0.70
Weighted-average shares and units outstanding—basic		86,150			83,233			82,196			82,094			81,999			80,550
Weighted-average shares and units outstanding—diluted (2)		106,386			104,142			102,078			101,492			99,461			92,571
(1) Real estate depreciation and amortization was computed as follows:
Depreciation and amortization per income statement	$	59,860		$	57,532		$	52,126		$	50,439		$	49,183		$	46,304
Non-real estate depreciation		(343	)		(357	)		(305	)		(276	)		(283	)		(217	)
	$	59,517		$	57,175		$	51,821		$	50,163		$	48,900		$	46,087

(2) At June 30, 2010, we had 7,000 series C convertible preferred shares and 13,795 series D convertible preferred shares outstanding that were convertible into 3,657 common shares and 8,318 common shares, respectively. In addition, we had a balance of $266,400 of 5.50% exchangeable senior debentures that were exchangeable for 6,195 common shares on a weighted average basis for the three months ended June 30, 2010. 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	$	69,856	$	73,665	$	69,426	$	64,010	$	60,786	$	57,821
Add: Series C convertible preferred dividends		1,914		1,914		1,914		1,914		1,914		1,914
Add: Series D convertible preferred dividends		4,742		4,742		4,742		4,742		4,742		4,742
Add: 5.50% exchangeable senior debentures interest expense		4,050		4,050		4,050		4,050		3,148		—
FFO available to common stockholders and unitholders — diluted	$	80,562	$	84,371	$	80,132	$	74,716	$	70,590	$	64,477
Weighted average common stock and units outstanding		86,150		83,233		82,196		82,094		81,999		80,550
Add: Effect of dilutive securities (excl. series C & D convert. preferred stock & 5.50% debentures)		2,146		2,842		1,847		1,373		730		191
Add: Effect of dilutive series C convertible preferred stock		3,657		3,657		3,625		3,615		3,615		3,615
Add: Effect of dilutive series D convertible preferred stock		8,238		8,215		8,215		8,215		8,215		8,215
Add: Effect of dilutive 5.50% exchangeable senior debentures		6,195		6,195		6,195		6,195		4,902		—
Weighted average common stock and units outstanding — diluted		106,386		104,142		102,078		101,492		99,461		92,571

Note: For a definition and discussion of FFO, see page 30.

Adjusted Funds From Operations (AFFO)

(unaudited and in thousands)

	Three Months Ended
	30-Jun-10			31-Mar-10			31-Dec-09			30-Sep-09			30-Jun-09			31-Mar-09
Reconciliation of FFO to AFFO:
Funds from operations available to common stockholders and unitholders (FFO)	$	69,856		$	73,665		$	69,426		$	64,010		$	60,786		$	57,821
Adjustments:
Non-real estate depreciation		343			357			305			276			283			217
Amortization of deferred financing costs		2,929			2,406			2,254			2,114			1,896			1,662
Amortization of debt discount		1,082			1,025			1,008			992			974			959
Non-cash compensation		3,229			2,188			2,273			2,185			2,130			1,520
Loss from early extinguishment of debt		1,541			—			—			—			—			—
Straight line rents		(10,560	)		(11,099	)		(11,275	)		(11,669	)		(11,089	)		(11,308	)
Above and below market rent amortization		(2,422	)		(2,283	)		(1,830	)		(1,953	)		(2,118	)		(2,139	)
Capitalized leasing compensation		(2,026	)		(1,887	)		(1,968	)		(1,917	)		(1,414	)		(1,271	)
Recurring capital expenditures and tenant improvements		(178	)		(2,024	)		(3,011	)		(2,980	)		(7,161	)		(496	)
Capitalized leasing commissions		(4,866	)		(3,156	)		(4,038	)		(1,823	)		(2,467	)		(4,283	)
AFFO available to common stockholders and unitholders	$	58,928		$	59,192		$	53,144		$	49,235		$	41,820		$	42,682

Note: For a definition and discussion of AFFO, see page 30. For a reconciliation of net income available to common stockholders to FFO, see above table.

Page 9

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Reconciliation of Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) ⁽¹⁾

(unaudited and in thousands)

	Three Months Ended
	30-Jun-10		31-Mar-10		31-Dec-09			30-Sep-09		30-Jun-09		31-Mar-09
Net income available to common stockholders	$	9,091	$	14,744	$	14,286		$	12,406	$	10,271	$	10,295
Interest		33,162		30,902		24,451			22,559		22,495		18,937
Loss from early extinguishment of debt		1,541		—		—			—		—		—
Taxes		534		716		(23	)		333		292		436
Depreciation and amortization		59,860		57,532		52,126			50,439		49,183		46,304
EBITDA		104,188		103,894		90,840			85,737		82,241		75,972
Noncontrolling interests		710		741		510			1,438		831		793
Preferred stock dividends		10,101		10,101		10,101			10,101		10,101		10,101
Adjusted EBITDA	$	114,999	$	114,736	$	101,451		$	97,276	$	93,173	$	86,866

(1) For the definition and discussion of EBITDA and Adjusted EBITDA, see page 30.

Financial Ratios

(unaudited and in thousands)

	30-Jun-10			31-Mar-10			31-Dec-09			30-Sep-09			30-Jun-09			31-Mar-09
Total GAAP interest expense	$	33,162		$	30,902		$	24,451		$	22,559		$	22,495		$	18,937
Capitalized interest		2,511			1,907			1,950			2,027			2,147			3,072
Change in accrued interest and other non-cash amounts		(8,611	)		(10,578	)		(2,486	)		(4,774	)		(7,947	)		(611	)
Cash interest expense (a)		27,062			22,231			23,915			19,812			16,695			21,398
Scheduled debt principal payments and preferred dividends		13,551			13,095			13,348			13,169			13,026			13,107
Total fixed charges (b)	$	40,613		$	35,326		$	37,263		$	32,981		$	29,721		$	34,505
Debt service coverage ratio based on GAAP interest expense (c)		3.5x			3.7x			4.1x			4.3x			4.1x			4.6x
Debt service coverage ratio based on cash interest expense (c)		4.2x			5.2x			4.2x			4.9x			5.6x			4.1x
Fixed charge coverage ratio based on GAAP interest expense (d)		2.5x			2.6x			2.7x			2.7x			2.6x			2.7x
Fixed charge coverage ratio based on cash interest expense (d)		2.8x			3.2x			2.7x			2.9x			3.1x			2.5x
Debt to total market capitalization including debt and preferred equity (e)		26.1	%		29.3	%		27.0	%		26.5	%		29.5	%		29.7	%
Debt plus preferred stock to total market capitalization including debt and preferred equity (f)		34.5	%		38.6	%		37.4	%		37.8	%		42.9	%		43.9	%
Pretax income to interest expense (g)		1.6x			1.8x			2.0x			2.1x			1.9x			2.1x
Net Debt to Adjusted EBITDA (h)		3.9x			4.6x			4.2x			4.0x			3.9x			3.9x

(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 unrestricted cash and cash equivalents divided by Adjusted EBITDA multiplied by four.

Page 10

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Net Operating Income (NOI) and Run-rate NOI

For the Three Months Ended June 30, 2010

(unaudited, in thousands)

Rental revenues	$	157,867
Tenant reimbursements		39,597
Rental property operating and maintenance		(54,406	)
Property taxes		(12,748	)
Insurance		(1,846	)
NOI	$	128,464
Actual results of properties acquired during the quarter:
Rental revenues		—
Tenant reimbursements		—
Rental property operating and maintenance		—
Property taxes		—
Insurance		—
Projected full quarter of actual results of properties acquired during the quarter:
Rental revenues		—
Tenant reimbursements		—
Rental property operating and maintenance		—
Property taxes		—
Insurance		—
Run-rate NOI	$	128,464
Reconciliation of net income available to common stockholders to NOI
Net income available to common stockholders	$	9,091
Other revenues		—
Interest expense		33,162
Depreciation and amortization		59,860
General and administrative expenses		12,574
Transactions		1,715
Tax expense		534
Loss from early extinguishment of debt		1,541
Other expenses		165
Equity in earnings of unconsolidated joint venture		(955	)
Interest and other income		(34	)
Net income attributable to noncontrolling interest		710
Preferred stock dividends		10,101
NOI	$	128,464

Note: For a definition and discussion of NOI and Run-rate NOI, see page 30.

Page 11

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Same Store and New Properties Consolidated Quarterly Statements of Operations

(unaudited and in thousands)

	Three Months Ended
Same store (1)	30-Jun-10			31-Mar-10			31-Dec-09			30-Sep-09			30-Jun-09			31-Mar-09
Operating Revenues:
Rental	$	136,109		$	136,157		$	133,000		$	130,627		$	125,490		$	118,095
Tenant reimbursements		34,954			35,085			32,079			32,215			29,434			31,021
Other		—			—			848			113			83			18
Total operating revenues		171,063			171,242			165,927			162,955			155,007			149,134
Operating Expenses:
Rental property operating and maintenance		46,637			47,579			45,397			45,084			42,301			42,573
Property taxes		10,381			10,829			7,995			9,278			9,149			9,211
Insurance		1,612			1,531			1,577			1,479			1,488			1,456
Depreciation and amortization		52,760			52,419			51,268			50,437			49,183			46,304
General and administrative (2)		12,574			10,519			10,009			10,352			9,958			9,672
Transactions		—			—			—			—			—			—
Other		165			2			94			404			—			285
Total operating expenses		124,129			122,879			116,340			117,034			112,079			109,501
Operating income		46,934			48,363			49,587			45,921			42,928			39,633
Other Income (Expenses):
Equity in earnings of unconsolidated joint venture		955			1,978			(776	)		1,091			741			1,116
Interest and other income		34			31			16			90			403			243
Interest expense (3)		(32,418	)		(30,033	)		(23,671	)		(22,503	)		(22,495	)		(18,937	)
Tax expense		(527	)		(628	)		23			(333	)		(292	)		(436	)
Loss from early extinguishment of debt		(1,541	)		—			—			—			—			—
Net income	$	13,437		$	19,711		$	25,179		$	24,266		$	21,285		$	21,619
New properties (1)
Operating Revenues:
Rental	$	21,758		$	16,564		$	3,467		$	265		$	—		$	—
Tenant reimbursements		4,643			3,973			380			7			—			—
Other		—			—			—			—			—			—
Total operating revenues		26,401			20,537			3,847			272			—			—
Operating Expenses:
Rental property operating and maintenance		7,769			5,663			689			194			—			—
Property taxes		2,367			1,892			354			17			—			—
Insurance		234			204			95			16			—			—
Depreciation and amortization		7,100			5,113			858			2			—			—
General and administrative (2)		—			—			—			—			—			—
Transactions		1,715			833			1,354			308			82			430
Other		—			—			—			—			—			—
Total operating expenses		19,185			13,705			3,350			537			82			430
Operating income		7,216			6,832			497			(265	)		(82	)		(430	)
Other Income (Expenses):
Equity in earnings of unconsolidated joint venture		—			—			—			—			—			—
Interest and other income		—			—			1			—			—			—
Interest expense (3)		(744	)		(869	)		(780	)		(56	)		—			—
Income tax expense		(7	)		(88	)		—			—			—			—
Loss from early extinguishment of debt		—			—			—			—			—			—
Net Income	$	6,465		$	5,873		$	(282	)	$	(321	)	$	(82	)	$	(430	)

(1) Same store properties are properties that were acquired on or before December 31, 2008 and new properties are properties acquired after December 31, 2008.

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

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

Page 12

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Same Store Operating Trend Summary

(unaudited and in thousands)

	Three Months Ended
Same store (1)	30-Jun-10			31-Mar-10			Percentage Change		30-Jun-09			Percentage Change
Rental (2)	$	136,109		$	136,157		(0.0	)%	$	125,490		8.5	%
Tenant reimbursements		34,954			35,085		(0.4	)%		29,434		18.8	%
		171,063			171,242		(0.1	)%		154,924		10.4	%
Rental property operating and maintenance		46,637			47,579		(2.0	)%		42,301		10.3	%
Property taxes		10,381			10,829		(4.1	)%		9,149		13.5	%
Insurance		1,612			1,531		5.3	%		1,488		8.3	%
		58,630			59,939		(2.2	)%		52,938		10.8	%
Net Operating Income (3)	$	112,433		$	111,303		1.0	%	$	101,986		10.2	%
Same store occupancy at end of quarter (4)		95.0	%		95.0	%				94.8	%

(1) Same store properties were acquired on or before December 31, 2008.

(2) For the periods presented, same store straight-line rent was $8,164, $9,168, and $11,089, respectively, and non-cash purchase accounting adjustments were $1,715, $1,721, and $2,118, respectively.

(3) For a definition and discussion of Net Operating Income, see page 30.

(4) Occupancy excludes space held for redevelopment. For some of our properties, we calculate occupancy based on factors in addition to contractually leased square feet, including available power, required support space and common area.

Page 13

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Consolidated Debt Analysis

(unaudited, in thousands)

	Maturity Date		Principal Balance as of June 30, 2010			% of Debt		Interest Rate as of June 30, 2010		Interest Rate as of June 30, 2010 including caps and swaps
Unhedged Floating Rate Debt
Revolving credit facility	August 31,  2012	(1)		11,628		0.5	%	—		—
			$	11,628		0.5	%
Fixed Rate Mortgage Debt and Hedged Floating Rate Debt
Secured Term Debt	November 11, 2014			142,810		6.7	%	5.65	%	—
3 Corporate Place	August 1,  2013	(1)		80,000		3.8	%	6.72	%	—
200 Paul Avenue 1-4	October 8, 2015			76,997		3.6	%	5.74	%	—
2045 & 2055 LaFayette Street	February 6, 2017			66,854		3.1	%	5.93	%	—
Mundells Roundabout	November 30, 2013			64,002		3.0	%	1.77	%	4.18	%
600 West Seventh Street	March 15, 2016			54,850		2.6	%	5.80	%	—
34551 Ardenwood Boulevard 1-4	November 11, 2016			54,626		2.6	%	5.95	%	—
1100 Space Park Drive	December 11, 2016			54,620		2.6	%	5.89	%	—
1350 Duane Avenue/3080 Raymond Street	October 1, 2012			52,800		2.5	%	5.42	%	—
150 South First Street	February 6, 2017			52,457		2.5	%	6.30	%	—
114 Rue Ambroise Croizat	January 18, 2012			38,184		1.8	%	2.12	%	5.13	%
Clonshaugh Industrial Estate II	September 4, 2014			36,714		1.7	%	5.27	%	7.20	%
1500 Space Park Drive	October 5, 2013			40,924		1.9	%	6.15	%	—
2334 Lundy Place	November 11, 2016			39,728		1.9	%	5.96	%	—
Unit 9, Blanchardstown Corporate Park	January 18, 2012			32,829		1.5	%	2.12	%	5.35	%
Cressex 1	October 16, 2014			27,289		1.3	%	5.68	%	—
6 Braham Street	April 10, 2011			18,980		0.9	%	1.63	%	5.84	%
1201 Comstock Street	June 24, 2013	(1)		17,363		0.8	%	3.85	%	—
Datacenter Park — Dallas	September 15,  2012	(1)		17,000		0.8	%	5.00	%	—
Paul van Vlissingenstraat 16	July 18, 2013			12,884		0.6	%	2.37	%	5.58	%
Chemin de l’Epinglier 2	July 18, 2013			9,322		0.4	%	2.27	%	5.57	%
Gyroscoopweg 2E-2F	October 18, 2013			8,203		0.4	%	2.27	%	5.49	%
1125 Energy Park Drive	March 1, 2032			9,132		0.4	%	7.62	%	—
Manchester Technopark	October 16, 2014			8,302		0.4	%	5.68	%	—
731 East Trade Street	July 1, 2020			5,206		0.2	%	8.22	%	—
			$	1,022,076		48.0	%
5.875% unsecured senior notes due 2020	February 1, 2020			500,000		23.5	%	5.88	%	—
4.125% exchangeable senior debentures due 2026	August 15, 2026			135,290		6.4	%	6.75	%	—
5.50% exchangeable senior debentures due 2029	April 15, 2029			266,400		12.5	%	5.50	%	—
Unsecured senior notes — Series A	July 24, 2011			25,000		1.2	%	7.00	%	—
Unsecured senior notes — Series B	November 5, 2013			33,000		1.6	%	9.32	%	—
Unsecured senior notes — Series C	January 6, 2016			25,000		1.2	%	9.68	%	—
Unsecured senior notes — Series D	January 20, 2015			50,000		2.4	%	4.57	%	—
Unsecured senior notes — Series E	January 20, 2017			50,000		2.4	%	5.73	%	—
Unsecured senior notes — Series F	February 3, 2015			17,000		0.8	%	4.50	%	—
Total Fixed Rate Debt including Caps and Swaps			$	2,123,766		100.0	%
Unamortized discount on 5.875% unsecured senior notes due 2020				(8,254	)	(0.4	%)
Unamortized discount on 4.125% exchangeable senior debentures due 2026				(3,609	)	(0.2	%)
Unamortized premium —1125 Energy Park Drive, 731 East Trade Street, 1500 Space Park Drive and 1350 Duane Avenue/3080 Raymond Street mortgages				1,179		0.1	%
Total Consolidated Debt			$	2,124,710		100.0	%
Weighted average cost of debt (including interest rate caps and swaps)										5.88	%

(1) Assumes all extensions will be exercised.

Credit Facility

(in thousands)

	Maximum Available as of June 30, 2010		Available as of June  30, 2010 (1)		Drawn as of June 30, 2010
Revolving Credit Facility	$	750,000	$	721,000	$	11,628

(1) Net of letters of credit issued.

Page 14

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

REVOLVING CREDIT FACILITY COMMITMENTS

(Dollar amounts in thousands)

	Lender / Issuing Bank	Committed
1	Bank of America, N.A.	$	130,000
2	Citicorp North America, Inc.		85,000
3	KeyBank, N.A.		85,000
4	Credit Suisse, Cayman Islands Branch		75,000
5	The Royal Bank of Scotland PLC		70,000
6	Deutsche Bank		70,000
7	Raymond James Bank, FSB		50,000
8	Royal Bank of Canada, New York Branch		40,000
9	Morgan Stanley Bank, National Association		30,000
10	JPMorgan Chase		25,000
11	UBS Loan Finance LLC		25,000
12	Allied Irish Banks, p.l.c.		15,000
13	Chang Hwa Commercial Bank, Ltd., New York Branch		15,000
14	Mega International Commercial Bank Co., Ltd Los Angeles Branch		15,000
15	Comerica Bank		10,000
16	First Commercial Bank New York Agency		10,000
	Total Commitments - Revolving Credit Facility	$	750,000

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

Page 15

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Debt Maturities

(unaudited, in thousands)

		Remainder of
Property		2010		2011		2012		2013		2014		Thereafter		Total
Revolving Credit Facility	(1)	$	—	$	—	$	11,628	$	—	$	—	$	—	$	11,628
Secured Term Debt	(2)		1,282		2,700		2,836		3,026		132,966		—		142,810
Unsecured senior notes			—		25,000		—		33,000		—		142,000		200,000
3 Corporate Place	(1)		—		—		—		80,000		—		—		80,000
200 Paul Avenue 1-4			818		1,721		1,812		1,932		2,048		68,666		76,997
2045 & 2055 LaFayette Street			418		886		941		999		1,060		62,550		66,854
Mundells Roundabout			—		—		—		64,002		—		—		64,002
600 West Seventh Street			693		1,448		1,535		1,626		1,723		47,825		54,850
34551 Ardenwood Boulevard 1-4			320		678		711		765		812		51,340		54,626
1100 Space Park Drive			324		687		720		774		821		51,294		54,620
1350 Duane Avenue/3080 Raymond Street			—		—		52,800		—		—		—		52,800
150 South First Street			303		646		679		733		780		49,316		52,457
114 Rue Ambroise Croizat			301		602		37,281		—		—		—		38,184
Clonshaugh Industrial Estate II			—		—		—		—		36,714		—		36,714
1500 Space Park Drive			983		2,067		2,192		35,682		—		—		40,924
2334 Lundy Place			232		493		517		556		590		37,340		39,728
Unit 9, Blanchardstown Corporate Park			259		518		32,052		—		—		—		32,829
Cressex 1			—		458		458		458		25,915		—		27,289
6 Braham Street			299		18,681		—		—		—		—		18,980
1201 Comstock Street	(1)		387		813		867		15,296		—		—		17,363
Datacenter Park – Dallas	(1)		850		808		15,342		—		—		—		17,000
Paul van Vlissingenstraat 16			103		206		206		12,369		—		—		12,884
Chemin de l’Epinglier 2			74		148		148		8,952		—		—		9,322
Gyroscoopweg 2E-2F			65		130		130		7,878		—		—		8,203
1125 Energy Park Drive			72		154		165		180		194		8,367		9,132
Manchester Technopark			—		139		139		139		7,885		—		8,302
731 East Trade Street			126		274		297		323		350		3,836		5,206
5.875% unsecured senior notes due 2020			—		—		—		—		—		500,000		500,000
4.125% exchangeable senior debentures due 2026	(3)		—		135,290		—		—		—		—		135,290
5.50% exchangeable senior debentures due 2029	(4)		—		—		—		—		266,400		—		266,400
Total		$	7,909	$	194,547	$	163,456	$	268,690	$	478,258	$	1,022,534	$	2,135,394
Weighted Average Term to Initial Maturity	(3)(4)				5.3 Years
Weighted Average Term to Initial Maturity (assuming exercise of extension options)	(3)(4)				5.4 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 $1,179 of loan premiums, net and ($8,254) and ($3,609) of debt discount on 5.875% unsecured senior notes due 2020 and 4.125% exchangeable senior debentures due 2026, respectively.

Page 16

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Debt Analysis & Covenant Compliance

(unaudited)

Debt Covenant Ratios (1):	As of June 30, 2010
	5.875% Notes due 2020			Revolving Credit  Facility(2)
	Required	Actual		Required	Actual
Total Outstanding Debt / Total Assets (3)	Less than 60%	37	%	Less than 65%(4)	36	%
Secured Debt / Total Assets (5)	Less than 40%	18	%	Less than 60%	17	%
Total Unencumbered Assets / Unsecured Debt	Greater than 150%	361	%		N/A
Consolidated EBITDA / Interest Expense (6)	Greater than 1.50x	3.0 x			N/A
Fixed Charge Coverage		N/A		Greater than 1.40x	2.1 x
Unsecured Debt / Total Unencumbered Asset Value (7)		N/A		Less than 70%	38	%
Unencumbered Assets Debt Service Coverage Ratio		N/A		Greater than 1.50x	3.4 x

(1) For a definition of the capitalized terms used in the table above and related footnotes, please refer to the Indenture, which governs the 5.875% Notes due 2020, and the Revolving Credit Facility Agreement, as amended, both of which are filed as exhibits to our reports filed with the Securities and Exchange Commission.

(2) Under the Revolving Credit Agreement, no rent leveling adjustments are included in the calculation of Adjusted EBITDA or Adjusted Net Operating Income.

(3) This ratio is referred to as the Leverage Ratio, defined as Consolidated Debt / Total Asset Value, under the Revolving Credit Facility.

(4) A one-time right exists to maintain Consolidated Debt to Total Asset Value greater than 65.0% but less than 70.0% for up to two consecutive fiscal quarters.

(5) This ratio is referred to as the Secured Debt Leverage Ratio, defined as Consolidated Secured Debt / Total Asset Value, under the Revolving Credit Facility.

(6) Calculated as annualized Consolidated EBITDA to annualized Interest Expense (including capitalized interest and debt discounts).

(7) Assets must satisfy certain conditions to qualify for inclusion in the Unencumbered Asset pool under the Revolving Credit Facility.

Page 17

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Portfolio Summary

As of June 30, 2010

	6/30/2010		3/31/2010
Number of Properties:
Domestic	72		70
International	15		14
	87	(1)	84	(1)
Number of Buildings:
Domestic	103		100
International	19		18
	122		118
Number of Markets:
Domestic	20		20
International	7		7
	27		27
Net Rentable Square Feet:
Domestic	12,050,701		11,992,658
International	1,219,334		1,219,334
	13,270,035		13,211,992
Redevelopment Square Feet:
Domestic	1,675,704		1,644,246
International	240,324		184,352
	1,916,028		1,828,598
Portfolio Occupancy (2)	95.0	%	95.2	%
Same Store Pool Occupancy (2)	95.0	%	95.0	%
Average Original Lease Term (years)	14.0		13.9
Average Remaining Lease Term (years)	7.2		7.2

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

(2) Occupancy excludes space held for redevelopment. For some of our properties, we calculate occupancy based on factors in addition to contractually leased square feet, including available power, required support space and common area.

Page 18

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Properties Acquired

For the three months ended June 30, 2010

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)
1725 Comstock Street	Silicon Valley	Apr-10	$	14.1	(2)	—	39,643	0.0	%
3105 & 3115 Alfred Street	Silicon Valley	May-10		10.0	(3)	—	49,858	0.0	%
Cateringweg 5	Amsterdam	Jun-10		6.4	(4)	—	55,972	0.0	%
			$	30.5		—	145,473	0.0	%

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

(2) As part of the acquisition, we have agreed with the seller to remit an earnout payment based on leasing activities in the building. The purchase price includes an accrual of $4.3 million, which is the estimated fair value of the contingent purchase price per the agreement. As of June 30, 2010, the entire building was leased. The final payment to the seller of approximately $4.3 million was made in July 2010 to fully settle the contingent purchase price amount.

(3) Both buildings were purchased vacant and will be redeveloped.

(4) A land parcel subject to a ground lease along with a vacant shell building.

Page 19

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Occupancy Analysis

As of June 30, 2010

(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 6/30/10		As of 3/31/10		As of 12/31/09		As of 09/30/09		As of 06/30/09		Property Type		Total Portfolio		Property Type		Total Portfolio
Internet Gateway Datacenters
350 East Cermak Road			May-05	Chicago	1,122,749	10,990	56,994	94.3	%	94.1	%	92.3	%	95.9	%	90.6	%	28.5	%	8.4	%	29.0	%	10.4	%
200 Paul Avenue 1-4			Nov-04	San Francisco	443,335	84,345	25,372	99.7	%	99.7	%	99.9	%	99.9	%	99.9	%	11.3		3.2		12.9		4.6
120 E. Van Buren Street			Jul-06	Phoenix	254,497	33,017	20,909	97.5	%	97.5	%	97.7	%	94.0	%	91.7	%	6.5		1.9		10.6		3.8
111 Eighth Avenue	(3	)	Mar-07	New York / New Jersey	116,843	—	17,898	95.6	%	95.6	%	100.0	%	100.0	%	100.0	%	3.0		0.9		9.1		3.2
600 West Seventh Street			May-04	Los Angeles	482,089	7,633	17,363	94.7	%	95.2	%	95.3	%	94.4	%	94.1	%	12.2		3.6		8.8		3.1
2323 Bryan Street			Jan-02	Dallas	457,217	19,890	14,527	75.1	%	75.1	%	76.7	%	78.3	%	76.4	%	11.6		3.4		7.4		2.6
114 Rue Ambroise Croizat			Dec-06	Paris, France	300,622	51,524	14,110	90.5	%	90.5	%	90.1	%	95.7	%	99.3	%	7.6		2.3		7.2		2.5
1100 Space Park Drive			Nov-04	Silicon Valley	165,297	—	7,859	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	4.2		1.2		4.0		1.4
36 NE 2nd Street			Jan-02	Miami	162,140	—	5,314	95.9	%	95.9	%	95.9	%	95.9	%	95.9	%	4.1		1.2		2.7		1.0
600-780 S. Federal			Sep-05	Chicago	161,547	—	5,016	68.7	%	66.3	%	69.4	%	69.4	%	69.4	%	4.1		1.2		2.5		0.9
6 Braham Street			Jul-02	London, England	63,233	—	4,259	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	1.6		0.5		2.2		0.8
900 Walnut Street			Aug-07	St Louis	112,266	—	3,873	97.3	%	97.3	%	97.3	%	92.9	%	97.3	%	2.9		0.8		2.0		0.7
125 North Myers			Aug-05	Charlotte	25,402	—	1,277	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	0.7		0.2		0.6		0.2
731 East Trade Street			Aug-05	Charlotte	40,879	—	1,236	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	1.0		0.3		0.6		0.2
113 North Myers			Aug-05	Charlotte	29,218	—	730	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	0.7		0.2		0.4		0.1
					3,937,334	207,399	196,737	92.2	%	92.1	%	92.1	%	93.2	%	91.7	%	100.0	%	29.3	%	100.0	%	35.5	%
Corporate Datacenters
128 First Avenue CDO			Jan-10	Boston	274,750	—	18,908	95.7	%	95.7	%	N/A		N/A		N/A		3.4	%	2.1	%	5.6	%	3.4	%
43881 Devon Shafron Drive			Mar-07	Northern Virginia	180,000	—	17,839	98.5	%	98.5	%	98.5	%	98.5	%	99.0	%	2.2	%	1.4	%	5.4	%	3.2	%
3 Corporate Place			Dec-05	New York / New Jersey	276,931	—	15,821	96.1	%	95.9	%	95.9	%	95.6	%	93.7	%	3.4		2.1		4.8		2.8
300 Boulevard East			Nov-02	New York / New Jersey	311,950	—	14,252	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	3.8		2.4		4.3		2.6
2440 Marsh Lane			Jan-03	Dallas	135,250	—	14,216	100.0	%	100.0	%	80.7	%	77.6	%	77.6	%	1.7		1.0		4.3		2.7
60 & 80 Merritt Boulevard			Jan-10	New York / New Jersey	169,540	—	12,061	100.0	%	100.0	%	N/A		N/A		N/A		2.1		1.3		3.6		2.2
833 Chestnut Street			Mar-05	Philadelphia	588,770	65,988	11,364	85.7	%	86.0	%	86.4	%	86.4	%	89.5	%	7.3		4.4		3.4		2.0
43791 Devon Shafron Drive			Mar-07	Northern Virginia	132,806	2,194	10,044	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	1.6		1.0		3.0		1.8
55 Middlesex Turnpike			Jan-10	Boston	106,000	—	10,013	87.9	%	87.9	%	N/A		N/A		N/A		1.3		0.8		3.0		1.8
1350 Duane & 3080 Raymond			Oct-09	Silicon Valley	185,000	—	9,693	100.0	%	100.0	%	100.0	%	N/A		N/A		2.3		1.4		2.9		1.7
3011 Lafayette Street			Jan-07	Silicon Valley	90,780	—	9,658	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	1.1		0.7		2.9		1.7
1525 Comstock Street			Sep-09	Silicon Valley	42,385	—	8,556	100.0	%	100.0	%	100.0	%	99.2	%	98.3	%	0.5		0.3		2.6		1.5
1500 Space Park Drive			Sep-07	Silicon Valley	51,615	—	8,534	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	0.6		0.4		2.6		1.5
4025 Midway Road			Jan-06	Dallas	87,964	12,626	8,459	99.8	%	99.8	%	99.8	%	99.8	%	99.8	%	1.1		0.7		2.5		1.5
Unit 9, Blanchardstown Corporate Park			Dec-06	Dublin, Ireland	120,000	—	8,111	99.1	%	98.8	%	86.2	%	86.2	%	86.2	%	1.5		0.9		2.4		1.5
Clonshaugh Industrial Estate II			Feb-06	Dublin, Ireland	124,500	—	7,862	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	1.5		0.9		2.4		1.4
2055 East Technology Circle			Oct-06	Phoenix	76,350	—	7,785	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	0.9		0.6		2.3		1.4
365 S. Randolphville Road			Feb-08	New York / New Jersey	75,635	189,157	7,628	62.1	%	34.6	%	50.6	%	100.0	%	0.0	%	0.9		0.6		2.3		1.4
Mundells Roundabout			Apr-07	London, England	113,464	—	6,974	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	1.4		0.9		2.1		1.3
2045 & 2055 LaFayette Street			May-04	Silicon Valley	300,000	—	6,660	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	3.7		2.3		2.0		1.2
150 South First Street			Sep-04	Silicon Valley	179,761	—	6,639	98.3	%	100.0	%	100.0	%	99.5	%	100.0	%	2.2		1.4		2.0		1.2
Cressex 1			Dec-07	London, England	50,847	—	6,391	100.0	%	100.0	%	90.6	%	90.6	%	90.6	%	0.6		0.4		1.9		1.2
11830 Webb Chapel Road			Aug-04	Dallas	365,647	—	6,235	96.6	%	96.6	%	96.6	%	95.0	%	95.0	%	4.5		2.8		1.9		1.1
3 St. Anne’s Boulevard			Dec-07	London, England	29,168	67,216	5,829	100.0	%	100.0	%	100.0	%	0.0	%	0.0	%	0.4		0.2		1.8		1.0
14901 FAA Boulevard			Jun-06	Dallas	263,700	—	4,817	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	3.2		2.0		1.4		0.9
2334 Lundy Place			Dec-02	Silicon Valley	130,752	—	4,784	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	1.6		1.0		1.4		0.9
375 Riverside Parkway			Jun-03	Atlanta	220,016	30,175	4,549	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	2.7		1.7		1.4		0.8
1201 Comstock Street			Jun-08	Silicon Valley	24,000	—	4,323	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	0.3		0.2		1.3		0.8
45901 & 45845 Nokes Blvd			Dec-09	Northern Virginia	167,160	—	4,288	100.0	%	100.0	%	100.0	%	N/A		N/A		2.0		1.3		1.3		0.8
44470 Chilum Place			Feb-07	Northern Virginia	95,440	—	4,103	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	1.2		0.7		1.2		0.7
12001 North Freeway			Apr-06	Houston	280,483	20,222	4,019	75.4	%	75.4	%	75.4	%	75.4	%	75.4	%	3.4		2.1		1.2		0.7
43915 Devin Shafron Drive			May-09	Northern Virginia	58,605	73,675	3,533	49.6	%	100.0	%	N/A		N/A		N/A		0.7		0.4		1.1		0.6
2401 Walsh Street			Jun-05	Silicon Valley	167,932	—	3,509	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	2.1		1.3		1.1		0.6
115 Second Avenue			Oct-05	Boston	66,730	—	3,437	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	0.8		0.5		1.0		0.6
8534 Concord Center Drive			Jun-05	Denver	85,660	—	3,362	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	1.0		0.6		1.0		0.6
21110 Ridgetop Circle			Jan-07	Northern Virginia	135,513	—	2,739	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	1.7		1.0		0.8		0.5
21561 & 21571 Beaumeade Cir			Dec-09	Northern Virginia	164,453	—	2,682	100.0	%	100.0	%	100.0	%	N/A		N/A		2.0		1.2		0.8		0.5
1807 Michael Faraday Court			Oct-06	Northern Virginia	19,237	—	2,610	100.0	%	100.0	%	97.1	%	97.1	%	84.1	%	0.2		0.1		0.8		0.5
210 N Tucker Boulevard			Aug-07	St Louis	139,588	62,000	2,404	79.4	%	78.4	%	78.4	%	78.4	%	78.4	%	1.7		1.1		0.7		0.4
200 North Nash Street			Jun-05	Los Angeles	113,606	—	2,374	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	1.4		0.9		0.7		0.4
Naritaweg 52			Dec-07	Amsterdam, Netherlands	63,260	—	2,344	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	0.8		0.5		0.7		0.4
2403 Walsh Street			Jun-05	Silicon Valley	103,940	—	2,172	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	1.3		0.8		0.7		0.4
Paul van Vlissingenstraat 16			Aug-05	Amsterdam, Netherlands	77,472	35,000	1,986	58.8	%	58.8	%	58.8	%	58.8	%	58.8	%	0.9		0.6		0.6		0.4
Manchester Technopark, Plot C1			Jun-08	Manchester, England	38,016	—	1,897	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	0.5		0.3		0.6		0.3
4700 Old Ironsides Drive			Jun-05	Silicon Valley	90,139	—	1,884	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	1.1		0.7		0.6		0.3
4650 Old Ironsides Drive			Jun-05	Silicon Valley	84,383	—	1,763	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	1.0		0.6		0.5		0.3
7505 Mason King Court			Nov-08	Northern Virginia	109,650	—	1,735	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	1.3		0.8		0.5		0.3
444 Toyama Drive			Sep-09	Silicon Valley	42,083	—	1,725	100.0	%	100.0	%	100.0	%	100.0	%	N/A		0.5		0.3		0.5		0.3
3015 Winona Avenue			Dec-04	Los Angeles	82,911	—	1,640	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	1.0		0.6		0.5		0.3

Page 20

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Occupancy Analysis

As of June 31, 2010

(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 6/30/10		As of 3/31/10		As of 12/31/09		As of 09/30/09		As of 06/30/09		Property Type		Total Portfolio		Property Type		Total Portfolio
6800 Millcreek Drive	Apr-06	Toronto, Canada	83,758		—		1,576	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	1.0		0.6		0.5		0.3
3065 Gold Camp Drive	Oct-04	Sacramento	62,957		—		1,555	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	0.8		0.5		0.5		0.3
251 Exchange Place	Nov-05	Northern Virginia	70,982		—		1,547	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	0.9		0.5		0.5		0.3
43831 Devon Shafron Drive	Mar-07	Northern Virginia	117,071		—		1,472	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	1.4		0.9		0.4		0.3
Chemin de l’Epinglier 2	Nov-05	Geneva, Switzerland	59,190		—		1,461	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	0.7		0.4		0.4		0.3
3300 East Birch Street	Aug-03	Los Angeles	68,807		—		1,458	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	0.8		0.5		0.4		0.3
1125 Energy Park Drive	Mar-05	Minneapolis/St. Paul	112,827		—		1,437	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	1.4		0.9		0.4		0.3
101 Aquila Way	Apr-06	Atlanta	313,581		—		1,411	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	3.8		2.4		0.4		0.3
Clonshaugh Industrial Estate	Feb-06	Dublin, Ireland	20,000		—		1,322	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	0.2		0.2		0.4		0.2
1232 Alma Road	Sep-09	Dallas	71,579		34,147		1,257	77.3	%	100.0	%	0.0	%	0.0	%	0.0	%	0.9		0.5		0.4		0.2
Gyroscoopweg 2E-2F	Jul-06	Amsterdam, Netherlands	55,585		—		1,076	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	0.7		0.4		0.3		0.2
8100 Boone Boulevard	Oct-06	Northern Virginia	17,015		—		912	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	0.2		0.1		0.3		0.2
600 Winter Street	Sep-06	Boston	30,400		—		810	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	0.4		0.2		0.2		0.1
2300 NW 89th Place	Sep-06	Miami	64,174		—		616	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	0.8		0.5		0.2		0.1
7620 Metro Center Drive	Dec-05	Austin	45,000		—		605	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	0.6		0.3		0.2		0.1
1 St. Anne’s Boulevard	Dec-07	London, England	20,219		—		247	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	0.2		0.2		0.1		—
4849 Alpha Road	Apr-04	Dallas	64,246		61,292		46	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	0.8		0.5		—		—
7500 Metro Center Drive	Dec-05	Austin	—		74,962		—	0.0	%	0.0	%	0.0	%	0.0	%	0.0	%	—		—		—		—
Cateringweg 5	Jun-10	Amsterdam, Netherlands	—		55,972		—	0.0	%	0.0	%	0.0	%	0.0	%	0.0	%	—		—		—		—
1725 Comstock Street	Apr-10	Silicon Valley	—		39,643		—	0.0	%	0.0	%	0.0	%	0.0	%	0.0	%	—		—		—		—
3105 & 3115 Alfred Street	May-10	Silicon Valley	—		49,858		—	0.0	%	0.0	%	0.0	%	0.0	%	0.0	%	—		—		—		—
900 Quality Way	Sep-09	Dallas	—		112,253		—	0.0	%	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	%	N/A		—		—		—		—
1301 International Parkway	Sep-09	Dallas	—		20,500		—	0.0	%	0.0	%	0.0	%	0.0	%	N/A		—		—		—		—
650 Randolph Road	Jun-08	New York / New Jersey	—		127,790		—	0.0	%	0.0	%	0.0	%	0.0	%	0.0	%	—		—		—		—
904 Quality Way	Sep-09	Dallas	—		46,750		—	0.0	%	0.0	%	0.0	%	0.0	%	N/A		—		—		—		—
905 Quality Way	Sep-09	Dallas	—		249,657		—	0.0	%	0.0	%	0.0	%	0.0	%	N/A		—		—		—		—
			8,171,233		1,678,017		333,019	92.2	%	96.3	%	95.9	%	95.7	%	95.8	%	100.0	%	61.9	%	100.0	%	59.9	%
Technology Manufacturing
34551 Ardenwood Boulevard 1-4	Jan-03	Silicon Valley	307,657		—		9,035	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	50.9	%	2.3	%	57.2	%	1.6	%
47700 Kato Road & 1055 Page Avenue	Sep-03	Silicon Valley	183,050		—		3,908	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	30.3		1.4		24.7		0.7
2010 East Centennial Circle	May-03	Phoenix	113,405		—		2,852	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	18.8		0.9		18.1		0.5
2 St. Anne’s Boulevard	Dec-07	London, England	—		30,612		—	0.0	%	0.0	%	0.0	%	100.0	%	100.0	%	—		—		—		—
			604,112		30,612		15,795	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	4.6	%	100.0	%	2.8	%
Technology Office
100 & 200 Quannapowitt Parkway	Jun-04	Boston	386,956		—		7,222	94.9	%	94.9	%	94.9	%	94.9	%	94.9	%	69.4	%	2.9	%	73.1	%	1.3	%
1 Savvis Parkway	Aug-07	St Louis	156,000		—		2,644	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	28.0		1.2		26.7		0.5
908 Quality Way	Sep-09	Dallas	14,400		—		24	100.0	%	100.0	%	0.0	%	0.0	%	N/A		2.6		0.1		0.2		—
			557,356		—		9,890	96.4	%	96.4	%	97.0	%	97.0	%	97.0	%	100.0	%	4.2	%	100	%	1.8	%
Portfolio Total/Weighted Average			13,270,035	(4)	1,916,028	$	555,441	95.0	%	95.2	%	95.0	%	95.2	%	94.8	%	100.0	%	100.0	%	100	%	100.0	%

(1) Annualized rent represents the monthly contractual rent under existing leases as of June 30, 2010 multiplied by 12. We estimate the total net rentable square feet available for lease based on a number of factors in addition to contractually leased square feet, including available power, required support space and common area.

(2) Occupancy excludes space held for redevelopment. For some of our properties, we calculate occupancy based on factors in addition to contractually leased square feet, including available power, required support space and common area.

(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 96.14% occupied as of June 30, 2010.

Page 21

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Major Tenants

As of June 30, 2010

(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 (3)	19	1,972,386	14.9	%	$	53,742	9.7	%	107
2	Equinix Operating Company, Inc. (4)	8	706,154	5.3	%	$	27,663	5.0	%	91
3	Qwest Communications International, Inc.	15	637,712	4.8	%	$	20,652	3.7	%	75
4	Morgan Stanley	4	139,232	1.0	%	$	20,370	3.7	%	48
5	NTT Communications Company	5	307,887	2.3	%	$	18,425	3.3	%	59
6	Facebook, Inc.	3	134,999	1.0	%	$	18,136	3.3	%	83
7	TelX Group, Inc.	10	134,970	1.0	%	$	17,131	3.1	%	197
8	AT & T	14	553,828	4.2	%	$	14,836	2.7	%	100
9	JPMorgan Chase & Co.	3	149,935	1.1	%	$	14,593	2.6	%	114
10	Level 3 Communications, LLC (5)	21	326,585	2.5	%	$	11,585	2.1	%	102
11	Microsoft Corporation	3	329,254	2.5	%	$	9,857	1.8	%	62
12	Yahoo! Inc.	2	110,847	0.8	%	$	9,800	1.8	%	88
13	TATA Communications (UK)	2	105,366	0.8	%	$	9,545	1.7	%	90
14	Sprint Communications Co., LP	6	173,319	1.3	%	$	9,148	1.6	%	51
15	BT Americas, Inc.	3	47,286	0.4	%	$	9,113	1.6	%	90
16	Pfizer, Inc.	1	76,487	0.6	%	$	8,983	1.6	%	90
17	T-Systems North America, Inc.	2	77,610	0.6	%	$	8,145	1.5	%	45
18	Carpathia Hosting	3	51,784	0.4	%	$	7,934	1.4	%	83
19	eircom Limited	1	124,500	0.9	%	$	7,862	1.4	%	109
20	Amazon	5	281,384	2.1	%	$	7,574	1.4	%	130
	Total/Weighted Average		6,441,525	48.5	%	$	305,094	55.0	%	94

(1) Occupied square footage is defined as leases that have commenced on or before June 30, 2010. For some of our properties, we calculate occupancy based on factors in addition to contractually leased square feet, including available power, required support space and common area.

(2) Annualized rent represents the monthly contractual rent under existing leases as of June 30, 2010 multiplied by 12. We estimate the total net rentable square feet available for lease based on a number of factors in addition to contractually leased square feet, including available power, required support space and common area.

(3) Savvis Communications acquired Fusepoint, Inc. (another tenant of ours) in June 2010. All Fusepoint leases are included above.

(4) Equinix Operating Company, Inc. acquired Switch & Data Facilities Company, Inc. (another tenant of ours) in April 2010. All Switch & Data Facilities Company, Inc. leases are included above.

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

Page 22

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Lease Expirations and Lease Distribution

Lease Expirations

As of June 30, 2010

(Amounts in thousands, except for lease and square foot data)

Year	Number of Leases Expiring (1)	Square Footage  of Expiring Leases (2)	Percentage of Net Rentable Square  Feet (2)		Annualized Rent (3)		Percentage of Annualized Rent		Annualized Rent Per Occupied Square Foot		Annualized Rent Per Occupied Square Foot at Expiration		Annualized Rent at Expiration
Available		668,189	5.0	%		—	0.0	%
2010	111	185,242	1.4	%		13,667	2.5	%	$	73.78		74.07		13,720
2011	119	1,190,848	9.0	%		31,638	5.7	%	$	26.57		26.84		31,959
2012	127	188,357	1.4	%		16,880	3.0	%	$	89.62		93.87		17,681
2013	109	1,005,820	7.6	%		50,792	9.1	%	$	50.50		54.05		54,364
2014	124	1,163,255	8.8	%		65,187	11.7	%	$	56.04		61.23		71,230
2015	99	2,029,316	15.3	%		76,677	13.8	%	$	37.78		41.19		83,581
2016	64	1,046,388	7.9	%		38,768	7.0	%	$	37.05		43.11		45,115
2017	42	753,827	5.7	%		30,286	5.5	%	$	40.18		48.05		36,221
2018	61	716,087	5.4	%		35,168	6.3	%	$	49.11		63.83		45,706
2019	60	1,471,014	11.1	%		83,610	15.1	%	$	56.84		66.71		98,135
Thereafter	160	2,851,692	21.4	%		112,768	20.3	%	$	39.54		54.44		155,243
Portfolio Total /Weighted Average	1,076	13,270,035	100.0	%	$	555,441	100.0	%	$	44.08	$	51.81	$	652,955

Lease Distribution

As of June 30, 2010

(Amounts in thousands, except for lease and square foot data)

Square Feet Under Lease	Number of Leases (1)	Percentage of All Leases		Total Net Rentable Square Feet (2)	Percentage of  Net Rentable Square Feet (2)		Annualized Rent (3)		Percentage of Annualized Rent
Available				668,189	5.0	%		—	—
2,500 or less	636	59.2	%	319,643	2.4	%		43,053	7.8	%
2,501 - 10,000	209	19.4	%	1,231,224	9.3	%		84,263	15.2	%
10,001 - 20,000	86	8.0	%	1,532,044	11.5	%		90,561	16.3	%
20,001 - 40,000	64	5.9	%	1,898,005	14.3	%		109,137	19.6	%
40,001 - 100,000	52	4.8	%	3,360,234	25.3	%		123,019	22.1	%
Greater than 100,000	29	2.7	%	4,260,696	32.2	%		105,408	19.0	%
Portfolio Total	1,076	100.0	%	13,270,035	100.0	%	$	555,441	100.0	%

(1) Includes license and similar agreements that upon expiration will be automatically renewed, mostly on a month-to-month basis. Number of leases represents the leased-unit count; a lease could include multiple units.

(2) For some of our properties, we calculate square footage based on factors in addition to contractually leased square feet, including available power, required support space and common area.

(3) Annualized rent represents the monthly contractual rent under existing leases as of June 30, 2010 multiplied by 12. We estimate the total net rentable square feet available for lease based on a number of factors in addition to contractually leased square feet, including available power, required support space and common area.

Page 23

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Lease Expirations - By Property Type

As of June 30, 2010

(Amounts in thousands, except for lease and square foot data)

CORPORATE DATACENTERS

Year	Number of Leases Expiring (1)	Square Footage of Expiring Leases (2)	Percentage of Net Rentable Square  Feet (2)		Annualized Rent (3)		Percentage of Annualized Rent		Annualized Rent Per Occupied Square Foot		Annualized Rent Per Occupied Square Foot at Expiration		Annualized Rent at Expiration
Available		343,118	2.6	%		—	0.0	%
2010	51	77,394	0.6	%	$	3,179	0.6	%	$	41.08	$	41.54	$	3,215
2011	47	450,445	3.4	%		7,245	1.3	%		16.08		16.21		7,301
2012	59	63,810	0.5	%		3,586	0.6	%		56.20		57.28		3,655
2013	59	613,658	4.6	%		31,931	5.7	%		52.03		55.52		34,072
2014	50	732,335	5.5	%		41,172	7.4	%		56.22		62.66		45,886
2015	41	799,170	6.0	%		32,609	5.9	%		40.80		44.17		35,296
2016	34	745,543	5.6	%		24,858	4.5	%		33.34		38.84		28,954
2017	17	329,547	2.5	%		19,531	3.6	%		59.27		72.16		23,780
2018	41	516,128	3.9	%		24,209	4.4	%		46.91		61.13		31,551
2019	48	1,328,044	10.0	%		73,445	13.2	%		55.30		65.02		86,351
Thereafter	91	2,172,041	16.3	%		71,254	12.8	%		32.81		43.68		94,871
Portfolio Total /Weighted Average	538	8,171,233	61.5	%	$	333,019	60.0	%	$	42.54	$	50.45	$	394,932

INTERNET GATEWAY DATACENTERS

Year	Number of Leases Expiring (1)	Square Footage  of Expiring Leases (2)	Percentage of Net Rentable Square Feet (2)		Annualized Rent (3)		Percentage of Annualized Rent		Annualized Rent Per Occupied Square Foot		Annualized Rent Per Occupied Square Foot at Expiration		Annualized Rent at Expiration
Available		305,148	2.3	%		—	0.0	%
2010	59	107,848	0.8	%	$	10,427	1.9	%	$	96.68	$	96.83	$	10,443
2011	66	158,320	1.2	%		12,826	2.3	%		81.01		81.95		12,974
2012	68	124,547	0.9	%		13,294	2.4	%		106.74		112.62		14,026
2013	44	245,891	1.9	%		16,500	3.0	%		67.10		72.36		17,792
2014	74	430,920	3.3	%		24,015	4.3	%		55.73		58.81		25,344
2015	54	1,098,760	8.3	%		37,894	6.8	%		34.49		38.26		42,042
2016	29	300,845	2.3	%		13,886	2.5	%		46.16		53.64		16,137
2017	23	154,875	1.2	%		5,258	0.9	%		33.95		40.06		6,204
2018	20	199,959	1.5	%		10,960	2.0	%		54.81		70.79		14,155
2019	12	142,970	1.1	%		10,164	1.8	%		71.09		82.42		11,784
Thereafter	64	667,251	5.0	%		41,513	7.5	%		62.21		90.48		60,374
Portfolio Total /Weighted Average	513	3,937,334	29.8	%	$	196,737	35.4	%	$	54.16	$	63.67	$	231,275

(1) Includes license and similar agreements that upon expiration will be automatically renewed, mostly on a month-to-month basis. Number of leases represents the leased-unit count; a lease could include multiple units.

(2) For some of our properties, we calculate square footage based on factors in addition to contractually leased square feet, including available power, required support space and common area.

(3) Annualized rent represents the monthly contractual rent under existing leases as of June 30, 2010 multiplied by 12. We estimate the total net rentable square feet available for lease based on a number of factors in addition to contractually leased square feet, including available power, required support space and common area.

Page 24

DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Lease Expirations - By Property Type

As of June 30, 2010

(Amounts in thousands, except for lease and square foot data)

TECHNOLOGY MANUFACTURING

Year	Number of Leases Expiring (1)	Square Footage  of Expiring Leases (2)	Percentage of  Net Rentable Square Feet (2)		Annualized Rent (3)		Percentage of Annualized Rent		Annualized Rent Per Occupied Square Foot		Annualized Rent Per Occupied Square Foot at Expiration		Annualized Rent at Expiration
Available		—	0.0	%		—	0.0	%
2010	1	—	0.0	%	$	61	0.0	%	$	—	$	—	$	61
2011	2	215,050	1.6	%		4,345	0.8	%		20.20		20.75		4,463
2012	—	—	0.0	%		—	0.0	%		—		—		—
2013	5	144,271	1.1	%		2,337	0.4	%		16.20		17.16		2,476
2014	—	—	0.0	%		—	0.0	%		—		—		—
2015	4	131,386	1.0	%		6,175	1.1	%		47.00		47.51		6,242
2016	1	—	0.0	%		24	0.0	%		—		—		24
2017	1	113,405	0.8	%		2,853	0.5	%		25.16		28.16		3,194
2018	—	—	0.0	%		—	0.0	%		—		—		—
2019	—	—	0.0	%		—	0.0	%		—		—		—
Thereafter	—	—	0.0	%		—	0.0	%		—		—		—
Portfolio Total / Weighted Average	14	604,112	4.5	%	$	15,795	2.8	%	$	26.15	$	27.25	$	16,460

TECHNOLOGY OFFICE

Year	Number of Leases Expiring (1)	Square Footage  of Expiring Leases (2)	Percentage of  Net Rentable Square Feet (2)		Annualized Rent (3)		Percentage of Annualized Rent		Annualized Rent Per Occupied Square Foot		Annualized Rent Per Occupied Square Foot at Expiration		Annualized Rent at Expiration
Available		19,923	0.1	%		—	0.0	%
2010	—	—	0.0	%	$	—	0.0	%	$	—	$	—	$	—
2011	4	367,033	2.8	%		7,222	1.3	%		19.68		19.68		7,222
2012	—	—	0.0	%		—	0.0	%		—		—		—
2013	1	2,000	0.0	%		24	0.0	%		12.00		12.00		24
2014	—	—	0.0	%		—	0.0	%		—		—		—
2015	—	—	0.0	%		—	0.0	%		—		—		—
2016	—	—	0.0	%		—	0.0	%		—		—		—
2017	1	156,000	1.2	%		2,644	0.5	%		16.95		19.50		3,042
2018	—	—	0.0	%		—	0.0	%		—		—		—
2019	—	—	0.0	%		—	0.0	%		—		—		—
Thereafter	5	12,400	0.1	%		—	0.0	%		—		—		—
Portfolio Total / Weighted Average	11	557,356	4.2	%	$	9,890	1.8	%	$	18.40	$	19.14	$	10,288

(1) Includes license and similar agreements that upon expiration will be automatically renewed, mostly on a month-to-month basis. Number of leases represents the leased-unit count; a lease could include multiple units.

(2) For some of our properties, we calculate square footage based on factors in addition to contractually leased square feet, including available power, required support space and common area.

(3) Annualized rent represents the monthly contractual rent under existing leases as of June 30, 2010 multiplied by 12. We estimate the total net rentable square feet available for lease based on a number of factors in addition to contractually leased

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DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Leasing Activity

As of June 30, 2010

	For the Three Months Ended June 30, 2010 (4)		% Leased (4)
Occupied Square Feet as of March 31, 2010 (1)	12,580,739			95.2	%
2Q 2010 Acquisitions:
1725 Comstock Street	—			0.0	%
3105/3115 Alfred Street	—			0.0	%
Cateringweg 5	—			0.0	%
Occupied Square Feet including 2Q 2010 Acquisitions (1)	12,580,739			94.9	%
Expirations, Terminations and Reductions	(141,642	)		(1.1	%)
New Leases and Expansions	164,010			1.2	%
Remeasurements (2)	(1,261	)		0.0	%
Occupied Square Feet as of June 30, 2010 (1)	12,601,846			95.0	%
GAAP Rent Growth (3)
Expiring Rent per Square Foot			$	29.54
New Rent per Square Foot			$	71.49
Percentage Increase				142.0	%
Weighted Average Lease Term - New (in months)				131

(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.

(4) For some of our properties, we calculate square footage based on factors in addition to contractually leased square feet, including available power, required support space and common area.

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DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Tenant Improvements and Leasing Commissions

	Three Months Ended								Full Year
	6/30/2010		3/31/2010		12/31/2009		9/30/2009		2009
Renewals (1)
Number of renewals		15		15		24		28		84
Square Feet (2)		92,982		100,167		244,005		453,840		1,169,266
Tenant improvement costs per square foot (3)	$	0.82	$	1.25	$	—	$	2.66	$	1.10
Leasing commission costs per square foot (3)	$	9.99	$	5.82	$	2.84	$	7.35	$	6.99
Total renewal lease costs per square foot	$	10.81	$	7.07	$	2.84	$	10.01	$	8.09
New Leases (4)
Number of non-redevelopment leases		18		12		10		8		47
Non-Redevelopment square feet (2)		23,125		9,235		39,486		2,289		199,576
Non-Redevelopment tenant improvement costs per square foot (3)	$	—	$	5.41	$	4.59	$	28.40	$	3.91
Non-Redevelopment leasing commission costs per square foot (3)	$	16.75	$	9.41	$	4.96	$	11.55	$	5.05
Number of redevelopment leases		13		8		13		17		56
Redevelopment square feet (2)		140,885		106,648		51,458		98,229		557,480
Redevelopment tenant improvement costs per square foot (3) (5)	$	27.87	$	6.43	$	—	$	5.09	$	3.81
Redevelopment leasing commission costs per square foot (3)	$	15.45	$	13.77	$	20.29	$	12.74	$	14.36
Total Number of Leases		31		20		23		25		103
Total Square Feet (2)		164,010		115,883		90,944		100,518		757,056
Total new lease costs per square foot	$	39.57	$	19.78	$	15.63	$	18.33	$	15.74
Total (6)
Number of leases		46		35		47		53		187
Square Feet (2)		256,992		216,050		334,949		554,358		1,926,321
Tenant improvement costs per square foot (3)	$	15.58	$	3.99	$	0.54	$	3.20	$	2.17
Leasing commission costs per square foot (3)	$	13.59	$	9.90	$	5.77	$	8.32	$	8.92
Total costs per square foot	$	29.17	$	13.89	$	6.31	$	11.52	$	11.09

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

(2) For some of our properties, we calculate square footage based on factors in addition to contractually leased square feet, including available power, required support space and common area.

(3) 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.

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

(5) 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.

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

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DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Historical Capital Expenditures

	Three Months Ended
	6/30/2010		3/31/2010		12/31/2009		9/30/2009		6/30/2009		3/31/2009
Recurring capital expenditures (1) (2)	$	5,044,000	$	5,180,000	$	7,049,000	$	4,803,000	$	9,628,000	$	4,779,000
Non-recurring capital expenditures (2)	$	74,735,000	$	54,743,000	$	56,967,000	$	66,272,000	$	88,605,000	$	125,530,000
Total net rentable square feet at period end excluding redevelopment space		13,270,035		13,211,992		12,573,634		11,964,522		11,854,886		11,784,573

(1) Recurring capital expenditures represent 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.

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DIGITAL REALTY TRUST, INC.

Second Quarter 2010

Redevelopment Activity

For the quarter ended June 30, 2010

(Square feet)

Activity for the quarter ended June 30, 2010	US		Europe	Total		% Leased (1)
Redevelopment Space as of March 31, 2010	1,644,246		184,352	1,828,598
Acquired Redevelopment Space and New Construction Space	150,793		55,972	206,765
Converted Redevelopment Space:
Turn-Key Datacenter®	(91,899	)	—	(91,899	)	29.2	%
Powered Base Building®	(27,436	)	—	(27,436	)	100.0	%
Remeasurement Adjustments	—		—	—
Redevelopment Space as of June 30, 2010	1,675,704		240,324	1,916,028
Redevelopment Space Under Construction at Quarter End	US		Europe	Total		% Leased (2)
Turn-Key Datacenter®	95,158		32,500	127,658		62.5	%
Build-to-Suit	—		—	—
New Powered Base Building® Shell	—		—	—
Redevelopment Space Under Construction as of June 30, 2010	95,158		32,500	127,658

(1) Defined as leases that have commenced on or before June 30, 2010.

(2) Defined as leases that were signed on or before June 30, 2010.

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DIGITAL REALTY TRUST, INC.

Second Quarter 2010

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 AFFO by adding to or subtracting from FFO (i) non-real estate depreciation, (ii) amortization of deferred financing costs, (iii) non-cash 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 non-cash depreciation and amortization or the cost of debt and, with respect to Adjusted EBITDA, preferred dividends and noncontrolling interests. Adjusted EBITDA is EBITDA excluding noncontrolling 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 expenses, property taxes and insurance expenses (as reflected in the 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.

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