Exhibit 99.2

Digital Realty the trusted foundation | powering your digital ambitions 4Q21 FINANCIAL RESULTS FEBRUARY 2022 Global. Connected. Sustainable.

| 2 Navigating the Future Sustainable Growth for Customers, Shareholders and Employees Selling GLOBALLY … Supporting LOCALLY EMEA APAC AMERICAS A Digital Realty and Brookfield Infrastructure JV DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022 GLOBAL CONNECTED SUSTAINABLE

| 3 Serving a Social Purpose Delivering Sustainable Growth for All Stakeholders Earned Nareit Leader in the Light award for fifth consecutive year ENVIRONMENTAL Led disaster recovery assistance and community reinvestment programs: committed to enhancing the well - being of shareholders, customers, employees, vendors and communities Demonstrated senior leadership and employee commitment to Diversity, Equity & Inclusion; established five employee resource groups; signed CEO Action Pledge for diversity; co - chairing Nareit’s diversity initiative Am ended corporate governance guidelines to clarify that director candidate pools must include candidates with diversity of race, ethnicity and gender SOCIAL Instituted minimum stock ownership requirements for directors and management Established proxy access for shareholders and provided shareholders the ability to propose amendments to the bylaws Enhanced Board diversity with the addition of three new Directors 2015 2019 2018 GOVERNANCE 2021 Formalized ESG oversight under the Nominating & Corporate Governance Committee and became a Signatory to the UN Global Compact Named one of “America’s Most Responsible Companies” by Newsweek Published EEO - 1 report, providing transparency on the racial and gender composition of the U.S. workforce Incorporated sustainability - linked pricing into global credit facility Achieved five - star GRESB rating, ranked #1 in Tech / Science category 2020 DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022

| 4 Note: As of December 31, 2021 Global Platform Expanding Global Platform Supporting Customer Growth 4,000+ Customers 178,000+ Cross - Connects 50 Metro Areas Cape Town Johannesburg Hong Kong Frankfurt Lagos DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022

1) Projected compound annual growth in the intensity of data gravity, as measured in gigabytes per second, from 2020 - 2024. Projections according to Digital Realty’s proprietary Data Gravity Index DGx ™ report as of December 2020. Patent pending. 2) Gartner Worldwide IT Spend Forecast, Market Databook 4Q21 Update. 3) Gartner 100 Data and Analytics Predictions Through 2025, March 2021 . New York D a ta Gra v i ty CAGR (1) 132% London D a ta Gra v i ty CAGR (1) 129% Zurich D a ta Gra v i ty CAGR (1) 135% ™ Frankfurt D a ta Gra v i ty CAGR (1) 144% Seoul D a ta Gra v i ty CAGR (1) 152% Mumbai D a ta Gra v i ty CAGR (1) 156% Singapore D a ta Gra v i ty CAGR (1) 200% Driving Data Hub Deployments Increased IT Spending By 2024, 75% of organizations are expected to have deployed multiple data hubs to drive mission - critical data analytics, sharing and governance (2) Gartner predicts 5.1% increase globally, digital data growth strategies (2) Excellence in Best Practices 2021 Company of the Year Data Gravity Driving Data Center Demand PlatformDIGITAL ® Poised to Capitalize 4.5T+ Worldwide IT Spend (1) 75% Deploying Data Hubs Needs Global MTDC Leader DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022 | 5

Financial Results | 6 DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022

$0 $50 $100 $150 Digital Transformation Driving Steady Demand Global Full - Product Spectrum Provides Broadest Solutions Note: Darker shading represents interconnection bookings. Fourth - quarter bookings are highlighted in lighter blue. Totals may not add up due to rounding. 1) Other includes Powered Base Building® shell capacity as well as storage and office space within fully improved data center fa cil ities. 4Q21 BOOKINGS 0 - 1 MW $41.8 mm > 1 MW $96.7 mm OTHER (1) $7.4 mm INTERCONNECTION $10.6 mm TOTAL BOOKINGS $156.5 mm HISTORICAL BOOKINGS ANNUALIZED GAAP BASE RENT $ in millions 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 | 7 DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022

$52 million of total 4Q bookings from 0 - 1 MW + interconnection 68% of bookings outside the Americas Connected Data Communities Attracting New Logos | 8 131 new logos Energy Provider Ivy League University Semiconductor Manufacturer Trading Platform Insurance Brokerage Aerospace Manufacturing Note: For quarter ended December 31, 2021. DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022

Top - Line Step Function Healthy Backlog Sets a Solid Foundation | 9 Note: Totals may not add up due to rounding. 1) Amounts shown represent GAAP annualized base rent from leases signed. 2) Amounts shown represent GAAP annualized base rent from leases signed, but not yet commenced, based on estimated future commen cem ent date at time of signing. Actual commencement dates may vary. Digital Realty Backlog Unconsolidated Joint Venture Backlog Digital Realty Backlog Unconsolidated Joint Venture Backlog BACKLOG ROLL - FORWARD (1) $ in millions COMMENCEMENT TIMING (2) $ in millions $24M DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022

Cycling Through Peak Vintage Renewals Narrowing the Gap on Cash Re - Leasing Spreads | 10 0 - 1 MW > 1 MW OTHER (1) TOTAL Signed renewal leases representing $106 million of annualized GAAP rental revenue Signed renewal leases representing $42 million of annualized GAAP rental revenue Signed renewal leases representing $2 million of annualized GAAP rental revenue Signed renewal leases representing $151 million of annualized GAAP rental revenue RENTAL RATE CHANGE 0.7 % CASH 1.3 % GAAP RENTAL RATE CHANGE - 14.0 % CASH - 11. 8 % GAAP RENTAL RATE CHANGE 4.1 % CASH 10.2 % GAAP RENTAL RATE CHANGE - 3.9 % CASH - 2.6 % GAAP 4Q21 RE - LEASING SPREADS Note: Totals may not add up due to rounding. Rental rate change represents the beginning rental rate on leases renewed, rela tiv e to the ending rental rate at expiration, weighted by net rentable square feet. 1) Other includes Powered Base Building® shell capacity as well as storage and office space within fully improved data center fa cil ities. DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022

61% 1% 7% 23% <1% <1% 4% 1% 1% 1% 1% <1% <1% <1% Effective Economic Risk Mitigation Strategies Benefits of Scale and Diversification on Display Source: FactSet. Note: Totals may not add up due to rounding. 1) As of December 31, 2021. Includes Digital Realty’s share of revenue from unconsolidated joint ventures. 2) Core FFO is a non - GAAP financial measure. For a definition of core FFO and a reconciliation to its nearest GAAP equivalent, see the Appendix. 3) Based on average exchange rates for the quarter ended December 31, 2021 compared to average exchange rates for the quarter ended December 31, 2020. 2.0% INCREASE 4.1% DECREASE U.S. DOLLAR INDEX 4Q20 4Q21 EXPOSURE BY REVENUE (1) CORE FFO/SHARE EXPOSURE (2) EXCHANGE RATES (3) U.S. DOLLAR / BRITISH POUND U.S. DOLLAR / EURO | 11 2022 $6.85 / Sh 0.5% BENCHMARK RATES +/ - 100 bps 0.1% GBP +/ - 10% 2.0 % EUR +/ - 10% USD CAD GBP EURO JPY HKD SGD AUD 1% 7% 23% <1% <1% 4% 1% SEK 1% DKK 1% CH F 1% <1% <1% HRK KES KRW <1% 61% DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022 80 85 90 95 100 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21

Committed to Conservative Capital Structure Maximizing Capital Menu Options, Minimizing Cost 1) Net Debt to Adjusted EBITDA is calculated as total debt at balance sheet carrying value (see Appendix), plus capital lease ob lig ations, plus our share of joint venture debt at carrying value, less cash and cash equivalents (including JV share of cash), divided by the product of Adjusted EBITDA (including our share of joint venture EBITDA), multiplied by fou r. 2) Fixed charge coverage ratio is Adjusted EBITDA divided by fixed charges (including our pro rata share of unconsolidated joint ve nture fixed charges). 3) Pro forma for assuming full physical settlement of the September 2021 forward sales agreements, January 2022 issuance of €750mm 1 .37 5% notes due 2032, and February 2022 redemption of the $450mm 4.75% notes due 2025. - 0.4x 6.1x 5.7x 4Q21 Reported Pro Forma Adjustments 4Q21 As Adjusted Net Debt to Adjusted EBITDA (1) (3) (3) 6 % Floating Rate Debt 3 % Floating Rate Debt (3) 0.3x 5.4x 5.7x 4Q21 Reported Pro Forma Adjustments 4Q21 As Adjusted Fixed Charge Coverage Ratio (2) | 12 (3) (3) DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022

DEBT MATURITY SCHEDULE AS OF DECE MBER 31, 2021 (1)(2) (U.S. $ in billions) Matching the Duration of Assets and Liabilities Clear Runway on the Left, No Bar Too Tall on the Right 99 % Unsecured Unsecured Secured Fixed Floating Euro USD GBP Other 94 % Fixed 77 % Non - USD 6.4 YEARS Weighted Avg. Maturity (1)(2) 2.1 % Weighted Avg. Coupon (1) DEBT PROFILE | 13 Note: As of December 3 1 , 2021. 1) Includes Digital Realty’s pro rata share of six unconsolidated joint venture loans and debt securities. Pro forma for the forward sale agreements entered into on September 8, 2021 relating to our common stock (assuming full physical settlement). Assumes proceeds from transactions are used to repay borro wi ngs under the global unsecured revolving credit facility and $450mm 4.75% notes due 2025. Pro forma for the € 750mm 1.375% notes due 2032 issued in January 2022. 2) Assumes exercise of extension options. $0.7 $0.0 $1.0 $1.3 $2.1 $1.2 $1.4 $1.7 $1.6 $1.7 $1.7 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 + Pro Rata Share of JV Debt Secured Mortgage Debt Unsecured Senior Notes - USD Unsecured Senior Notes - GBP Unsecured Senior Notes - EUR Other Unsecured Debt Unsecured Green Senior Notes - EUR Unsecured Green Senior Notes - CHF Unsecured Credit Facilities Pro Forma Payoffs Pro Forma Euro Notes € € € € € ¥$ ¥$ DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022

Q&A | 14 DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022

Consistent Execution on Strategic Vision Delivering Current Results, Seeding Future Growth | 15 SUCCESSFUL 2021 INITIATIVES 1. Strengthening Connections with Customers Booked $500 million of new business and landed nearly 500 new logos 2. Enhancing our Global Platform Established Digital Realty as the leading Pan - African provider 3. Exceeding Expectations Exceeded initial guidance for full - year 2021 4. Strengthening the Balance Sheet Raised attractively priced debt and equity capital DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022

Appendix | 16 DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022

Digital Transformation Driving Steady Demand Global Full - Product Spectrum Provides Broadest Solutions HISTORICAL BOOKINGS TRAILING FOUR - QUARTER AVERAGE ANNUALIZED GAAP BASE RENT $ in millions 4Q21 TRAILING FOUR - QUARTER AVERAGE BOOKINGS 0 - 1 MW $37.1 mm > 1 MW $73.5 mm OTHER (1) $2.5 mm INTERCONNECTION $ 12.1 mm TOTAL BOOKINGS $ 125.2 mm 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 | 17 Note: Darker shading represents interconnection bookings. Fourth quarter bookings are highlighted in lighter blue. Totals may not add up due to rounding. 1) Other includes Powered Base Building® shell capacity as well as storage and office space within fully improved data center fa cil ities. DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022

Appendix Management Statements on Non - GAAP Measures | 18 The information included in this presentation contains certain non - GAAP financial measures that management believes are helpful in understanding our business, as further described below. Our definition and calculation of non - GAAP financial measures may differ from those of other REITs, and, therefore, may not be comparable. The non - GAAP financial measures should not be considered alternatives to net income or any other GAAP measurement of performance and should not be considered an alternative to cash flows from operating, investing or financing activities as a measure of liquidity. Funds From Operations (FFO): We calculate funds from operations, or FFO, in accordance with the standards established by the National Association of Real Est ate Investment Trusts, or NAREIT, in the NAREIT Funds From Operations White Paper - 2018 Restatement. FFO represents net income (loss) (computed in accordance with GAAP), excluding gains (or losses) from real estate transactions, impairment of investment in real estate, real estate related depreciation and amortization (excluding amortization of deferred financing costs), unconsolidated JV real estate rel ate d depreciation & amortization, non - controlling interests in operating partnership and after adjustments for unconsolidated partnerships and joint ventures. Management uses FFO as a supplemental performance mea sure because, in excluding real estate related depreciation and amortization and gains and losses from property dispositions and after adjustments for unconsolidated partnerships and joint ventures, it pro vides 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 performanc e o f 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 c han ges in the value of our data centers 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 data centers, 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 RE ITs may not calculate FFO in accordance with the NAREIT definition and, accordingly, our FFO may not be comparable to other REITs’ FFO. FFO should be considered only as a supplement to net income computed in accord anc e with GAAP as a measure of our performance. Core Funds from Operations (Core FFO) : We present core funds from operations, or core FFO, as a supplemental operating measure because, in excluding certain items t hat do not reflect core revenue or expense streams, it provides a performance measure that, when compared year over year, captures trends in our core business operating performance. We calculate core FFO by adding to or subtracting from FFO (i) termination fees and other non - core revenues, (ii) transaction and integration expenses, (iii) loss from early extinguishment of debt, (iv) gain on / issuance costs associated with redeemed preferred stock, (v) severance, equity acceleration, and legal expenses, (vi) gain/loss on FX revaluation, and (vii) other non - core expense adjustments. Because certain of these adjustments h ave a real economic impact on our financial condition and results from operations, the utility of core FFO as a measure of our performance is limited. Other REITs may calculate core FFO differently than we do an d accordingly, our core FFO may not be comparable to other REITs’ core FFO. Core FFO 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, loss from early extinguishment of debt, income taxes, and depreciation and amortiza tio n, 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 amorti zation or the cost of debt and, with respect to Adjusted EBITDA, unconsolidated joint venture real estate related depreciation & amortization, unconsolidated joint venture interest expense and tax, severance, equity acceleration, and legal expenses, transaction and integration expenses, gain on sale / deconsolidation, impairment of investments in real estate, other non - core adjustments, net, non - control ling interests, preferred stock dividends, including undeclared dividends, and issuance costs associated with redeemed preferred stock. Adjusted EBITDA is EBITDA excluding unconsolidated joint venture rea l e state related depreciation & amortization, unconsolidated joint venture interest expense and tax, severance, equity acceleration, and legal expenses, transaction and integration expenses, gain on sale / dec ons olidation, impairment of investments in real estate, other non - core adjustments, net, non - controlling interests, preferred stock dividends, including undeclared dividends, and gain on / issuance costs associat ed with redeemed preferred stock. 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 EB ITDA 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 e xpe nditures or other recurring cash requirements of our business, their utility as a measure of our performance is limited. Other REITs may calculate EBITDA and Adjusted EBITDA differently than we do and, accor din gly, our EBITDA and Adjusted EBITDA may not be comparable to other REITs’ EBITDA and Adjusted EBITDA. Accordingly, EBITDA and Adjusted EBITDA should be considered only as supplements to net income co mpu ted in accordance with GAAP as a measure of our financial performance. Net Operating Income (NOI) and Cash NOI: Net operating income, or NOI, represents rental revenue, tenant reimbursement revenue and interconnection revenue less utilit ies expense, rental property operating expenses, property taxes and insurance expenses (as reflected in the statement of operations). NOI is commonly used by stockholders, company management and industry an alysts as a measurement of operating performance of the company’s rental portfolio. Cash NOI is NOI less straight - line rents and above - and below - market rent amortization. Cash NOI is commonly used by stockholders, company management and industry analysts as a measure of property operating performance on a cash basis. However, because NOI and cash NOI exclude depreciation and amortization and c apt ure neither the changes in the value of our data centers that result from use or market conditions, nor the level of capital expenditures and capitalized leasing commissions necessary to maintain the ope rat ing performance of our data centers, all of which have real economic effect and could materially impact our results from operations, the utility of NOI and cash NOI as measures of our performance is limite d. Other REITs may calculate NOI and cash NOI differently than we do and, accordingly, our NOI and cash NOI may not be comparable to other REITs’ NOI and cash NOI. NOI and cash NOI should be considered only as su ppl ements to net income computed in accordance with GAAP as measures of our performance. DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022

Appendix Forward - Looking Statements | 19 This information in this presentation contains forward - looking statements within the meaning of the federal securities laws, whi ch 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 sta tements relating to: our economic outlook; expected physical settlement of the forward sale agreements and use of proceeds from any such settlements; our expected investment and expansion activity; our jo int ventures; the expected benefits and timing of PlatformDIGITAL®; the Data Gravity Index ™ ; Data Gravity Index DGx ™ ; public cloud services spending; our corporate governance; our sustainability initiatives; the expected effect of foreign cu rre ncy translation adjustments on our financials; demand drivers and economic growth outlook; business drivers; sources and uses; our expected development plans and completion s, including timing, total square footage, IT capacity and raised floor space upon completion; expected availability for leasing efforts and colocation initiatives; organizational initiatives; our product off eri ngs; our connected data communities; our expected Go to Market strategy; joint venture opportunities; occupancy and total investment; our expected investment in our properties; our estimated time to stabilization an d targeted returns at stabilization of our properties; our expected future acquisitions; acquisitions strategy; available inventory and development strategy; the signing and commencement of leases, an d r elated rental revenue; lag between signing and commencement of leases; our 2022 backlog; future rents; our expected same store portfolio growth; our expected growth and stabilization of development co mpl etions and acquisitions; our expected mark to market rates on lease expirations, lease rollovers and expected rental rate changes; our re - leasing spreads; our leasing expirations; our expected yields on invest ments; our expectations with respect to capital investments at lease expiration on existing data center or colocation space; barriers to entry; competition; debt maturities; lease maturities; our expected ret urn s on invested capital; estimated absorption rates; our other expected future financial and other results, and the assumptions underlying such results; our top investment geographies and market opportunities; our exp ected colocation expansions; our ability to access the capital markets; expected time and cost savings to our customers; our customers’ capital investments; our plans and intentions; future data center util iza tion, utilization rates, growth rates, trends, supply and demand; datacenter outsourcing trends; datacenter expansion plans; estimated kW/MW requirements; growth in the overall Internet infrastructure s ect or and segments thereof; the replacement cost of our assets; the development costs of our buildings, and lead times; estimated costs for customers to deploy or migrate to a new data center; capital expe ndi tures; the effect new leases and increases in rental rates will have on our rental revenues and results of operations; lease expiration rates; our ability to borrow funds under our credit facilities; estimate s o f the value of our development portfolio; our ability to meet our liquidity needs, including the ability to raise additional capital; credit ratings; capitalization rates, or cap rates; market forecasts; pote nti al new locations; the expected impact of our global expansion; dividend payments and our dividend policy; projected financial information and covenant metrics; core FFO run rate and NOI growth; other forward lookin g f inancial data; leasing expectations; our exposure to tenants in certain industries; our expectations and underlying assumptions regarding our sensitivity to fluctuations in foreign exchange rates and energy pr ice s; and the sufficiency of our capital to fund future requirements. You can identify forward - looking statements by the use of forward - looking terminology such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans ,” “pro forma,” “estimates” or “anticipates” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or tre nds and discussions which do not relate solely to historical matters. Such statements are based on management’s beliefs and assumptions made based on information currently available to management. Such statemen ts 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 c ont rol. 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. S ome 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 follo wing: reduced demand for data centers or decreases in information technology spending; the competitive environment in which we operate; decreased rental rates, increased operating costs or increased vac anc y rates; the impact of the COVID - 19 pandemic on our or our customers’, suppliers’ or business partners’ operations; increased competition or available supply of data center space; the suitability of our data centers and data center infrastructure, delays or disruptions in connectivity or availability of power, or failures or breaches of our physical and information security infrastructure or services; our depen den ce upon significant customers, bankruptcy or insolvency of a major customer or a significant number of smaller customers, or defaults on or non - renewal of leases by customers; breaches of our obligations or re strictions under our contracts with our customers; our inability to successfully develop and lease new properties and development space, and delays or unexpected costs in development of properties; the impa ct of current global and local economic, credit and market conditions; our inability to retain data center space that we lease or sublease from third parties; difficulty managing an international busi nes s and acquiring or operating properties in foreign jurisdictions and unfamiliar metropolitan areas; our inability to achieve expected revenue synergies or cost savings as a result of our combination with I nte rxion; our failure to realize the intended benefits from, or disruptions to our plans and operations or unknown or contingent liabilities related to, our recent acquisitions; our failure to successfully integrat e a nd operate acquired or developed properties or businesses; difficulties in identifying properties to acquire and completing acquisitions; risks related to joint venture investments, including as a result of our l ack of control of such investments; risks associated with using debt to fund our business activities, including re - financing and interest rate risks, our failure to repay debt when due, adverse changes in our credit ra tings or our breach of covenants or other terms contained in our loan facilities and agreements; our failure to obtain necessary debt and equity financing, and our dependence on external sources of capital; fin anc ial market fluctuations and changes in foreign currency exchange rates; adverse economic or real estate developments in our industry or the industry sectors that we sell to, including risks relating to dec rea sing real estate valuations and impairment charges and goodwill and other intangible asset impairment charges; our inability to manage our growth effectively; losses in excess of our insurance coverage; environ men tal liabilities and risks related to natural disasters; our inability to comply with rules and regulations applicable to our company; Digital Realty Trust, Inc.’s failure to maintain its status as a REIT for federal inc ome tax purposes; Digital Realty Trust, L.P.’s failure to qualify as a partnership for federal income tax purposes; restrictions on our ability to engage in certain business activities; and changes in local, state, feder al and international laws and regulations, including related to taxation, real estate and zoning laws, and increases in real property tax rates; our ability to attract and retain qualified personnel and to attract a nd retain customers; and the impact of any financial, accounting, legal or regulatory issues or litigation that may affect us. The risks included here are not exhaustive, and additional factors could adversely affect our business and financial performa nce . We discussed a number of additional material risks in our annual report on Form 10 - K for the year ended December 31, 2020, 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 mate ria lly 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. Digita l Realty, Digital Realty Trust, the Digital Realty logo, Interxion, Turn - Key Flex, Powered Base Building, PlatformDIGITAL, Data Gravity Index, Data Gravity Index DGx and Connected Data Communities are registered trademarks and service marks of Digital Realty Trust, Inc. in the United States and/or other countries. All other names, trademarks and service marks are the property of their respective owners. DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022

Reconciliation of Non - GAAP Items To Their Closest GAAP Equivalent | 20 December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Net income available to common stockholders 1,057,629 $ 44,178 $ 1,681,498 $ 263,346 $ Adjustments: Noncontrolling interests in operating partnership 23,100 1,300 39,100 9,500 Real estate related depreciation and amortization (1) 372,447 354,366 1,463,512 1,341,836 Real estate related depreciation and amortization related to investment in unconsolidated joint ventures 24,146 21,471 85,800 77,730 (Gain) on real estate transactions (1,047,010) (1,684) (1,445,229) (316,895) Impairment of investments in real estate 18,291 - 18,291 6,482 FFO available to common stockholders and unitholders 448,603 $ 419,631 $ 1,842,972 $ 1,381,998 $ Basic FFO per share and unit 1.55 $ 1.46 $ 6.37 $ 5.16 $ Diluted FFO per share and unit 1.54 $ 1.45 $ 6.36 $ 5.11 $ Weighted average common stock and units outstanding Basic 289,895 287,898 289,165 268,073 Diluted 290,843 288,903 289,868 270,497 (1) Real estate related depreciation and amortization was computed as follows: Depreciation and amortization per income statement 378,883 359,915 1,486,632 1,366,379 Non-real estate depreciation (6,436) (5,549) (23,120) (24,543) 372,447 $ 354,366 $ 1,463,512 $ 1,341,836 $ December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 FFO available to common stockholders and unitholders -- basic and diluted 448,603 $ 419,631 $ 1,842,972 $ 1,381,998 $ Weighted average common stock and units outstanding 289,895 287,898 289,165 268,073 Add: Effect of dilutive securities 948 1,005 703 2,424 Weighted average common stock and units outstanding -- diluted 290,843 288,903 289,868 270,497 Twelve Months Ended Digital Realty Trust, Inc. and Subsidiaries Reconciliation of Net Income Available to Common Stockholders to Funds From Operations (FFO) (in thousands, except per share and unit data) (unaudited) Three Months Ended Three Months Ended Twelve Months Ended DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022

Reconciliation of Non - GAAP Items To Their Closest GAAP Equivalent | 21 December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 FFO available to common stockholders and unitholders -- diluted 448,603 $ 419,631 $ 1,842,972 $ 1,381,998 $ Termination fees and other non-core revenues 9,859 (25) (19,388) (30,071) Transaction and integration expenses 12,427 19,290 47,426 106,662 Loss from early extinguishment of debt 325 49,576 18,672 103,215 (Gain) / Loss on FX revaluation 14,308 (27,190) 30,505 81,936 (Gain) on redemption of preferred stock - - (18,000) 16,520 Severance accrual and equity acceleration 1,003 606 7,343 6,440 Other non-core expense adjustments (1) 3,353 (15,939) 15,581 CFFO available to common stockholders and unitholders -- diluted 486,524 $ 465,241 $ 1,893,591 $ 1,682,281 $ Diluted CFFO per share and unit 1.67 $ 1.61 $ 6.53 $ 6.22 $ Digital Realty Trust, Inc. and Subsidiaries Reconciliation of Funds From Operations (FFO) to Core Funds From Operations (CFFO) (in thousands, except per share and unit data) (unaudited) Three Months Ended Twelve Months Ended DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022

Reconciliation of Non - GAAP Items To Their Closest GAAP Equivalent | 22 December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Net income available to common stockholders 1,057,629 $ 44,178 $ 1,681,498 $ 263,346 $ Interest 71,762 77,848 293,846 333,021 Loss from early extinguishment of debt 325 49,576 18,672 103,215 Income tax expense (benefit) 3,961 3,322 72,799 38,047 Depreciation and amortization 378,883 359,915 1,486,632 1,366,379 EBITDA 1,512,560 534,839 3,553,447 2,104,008 Unconsolidated JV real estate related depreciation & amortization 24,146 21,471 85,800 77,730 Unconsolidated JV interest expense and tax expense 15,222 12,143 50,538 40,292 Severance accrual and equity acceleration 1,003 606 7,343 6,440 Transaction and integration expenses 12,427 19,290 47,426 106,662 (Gain) on sale / deconsolidation (1,047,010) (1,684) (1,380,795) (316,895) Impairment of investments in real estate 18,291 - 18,291 6,482 Other non-core adjustments, net 14,307 (23,842) (36,172) 62,884 Noncontrolling interests 22,587 1,818 38,153 6,332 Preferred stock dividends, including undeclared dividends 10,181 13,514 45,761 76,536 (Gain) on redemption of preferred stock - - (18,000) 16,520 . Adjusted EBITDA 583,713 $ 578,156 $ 2,411,792 $ 2,186,991 $ Twelve Months Ended Three Months Ended Digital Realty Trust, Inc. and Subsidiaries Reconciliation of Net Income Available to Common Stockholders to Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) and Adjusted EBITDA (in thousands) (unaudited) DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022

Reconciliation of Non - GAAP Items To Their Closest GAAP Equivalent | 23 December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Rental revenues 386,745 $ 404,052 $ 1,573,284 $ 1,596,246 $ Tenant reimbursements - Utilities 84,573 77,375 344,747 316,902 Tenant reimbursements - Other 38,615 41,420 161,487 162,082 Interconnection and other 56,076 56,197 228,150 223,465 Total Revenue 566,009 579,044 2,307,668 2,298,695 Utilities 101,494 91,727 411,871 372,666 Rental property operating 106,984 103,224 400,081 375,207 Property taxes 25,432 29,174 120,885 113,217 Insurance 2,375 2,292 9,138 9,073 Total Expenses 236,285 226,417 941,975 870,163 Net Operating Income 329,724 $ 352,627 $ 1,365,693 $ 1,428,532 $ Less: Stabilized straight-line rent (2,999) $ (1,814) $ (14,293) $ (7,453) $ Above and below market rent 283 (1,571) (1,829) (9,727) Cash Net Operating Income 332,440 $ 356,012 $ 1,381,815 $ 1,445,712 $ Three Months Ended Twelve Months Ended Digital Realty Trust, Inc. and Subsidiaries Reconciliation of Same Capital Cash Net Operating Income (in thousands) (unaudited) DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022

Reconciliation of Non - GAAP Items To Their Closest GAAP Equivalent | 24 Note: For quarter ended December 31, 2021. Total Debt/Total Enterprise Value QE 12/31/21 Market value of common equity (i) $51,353,636 Debt Service Ratio (LQA Adjusted EBITDA/GAAP interest expense plus capitalized interest and less bridge facility fees) Liquidation value of preferred equity (ii) 755,000 Total GAAP interest expense (including unconsolidated JV interest expense) 82,451 Total debt at balance sheet carrying value 13,448,210 Add: Capitalized interest 15,328 Total Enterprise Value $65,556,846 GAAP interest expense plus capitalized interest 97,779 Total debt / total enterprise value 20.5% Debt - plus - preferred - to - total - enterprise - value 21.7% Debt Service Ratio 6.0x (i) Market Value of Common Equity Common shares outstanding 284,415 Common units outstanding 5,932 QE 12/31/21 Total Shares and Partnership Units 290,347 Fixed Charged Ratio (LQA Adjusted EBITDA/total fixed charges) Stock price as of December 31, 2021 $176.87 Market value of common equity $51,353,636 GAAP interest expense plus capitalized interest 97,779 Preferred dividends 10,181 (ii) Liquidation value of preferred equity ($25.00 per share) Total fixed charges 107,960 Shares O/S Liquidation Value Series J Preferred 8,000 200,000 Fixed charge ratio 5.4x Series K Preferred 8,400 210,000 Series L Preferred 13,800 345,000 755,000 (iv) QE 12/31/21 Unsecured Debt/Total Debt Net Debt/LQA Adjusted EBITDA QE 12/31/21 Global unsecured revolving credit facility 398,172 Total debt at balance sheet carrying value $13,448,210 Unsecured senior notes, net of discount 12,903,370 Add: DLR share of unconsolidated joint venture debt 826,799 Secured debt, including premiums 146,668 Add: Capital lease obligations, net 218,590 Capital lease obligations, net 218,590 Less: Unrestricted cash (299,410) Total debt at balance sheet carrying value 13,666,800 Net Debt as of December 31, 2021 $14,194,189 Unsecured Debt / Total Debt 98.9% Net Debt / LQA Adjusted EBITDA (iii) 6.1x (iii) Adjusted EBITDA Net Debt Plus Preferred/LQA Adjusted EBITDA QE 12/31/21 Net loss available to common stockholders $1,057,629 Total debt at balance sheet carrying value 13,448,210 Interest expense 71,762 Less: Unrestricted cash (299,410) Taxes 3,961 Capital lease obligations, net 218,590 Depreciation and amortization 378,883 DLR share of unconsolidated joint venture debt 826,799 EBITDA 1,512,560 Net Debt as of September 30, 2021 14,194,189 Preferred Liquidation Value (iv) 755,000 Unconsolidated JV real estate related depreciation & amortization 24,146 Net Debt plus preferred 14,949,189 Unconsolidated JV interest expense and tax expense 15,222 Severance accrual and equity acceleration and legal expenses 1,003 Net Debt Plus Preferred/LQA Adjusted EBITDA (iii) 6.4x Transaction and integration expenses 12,427 Gain on sale / deconsolidation (1,047,010) Other non - core adjustments, net 14,307 Noncontrolling interests 22,587 Preferred stock dividends, including undeclared dividends 10,181 Adjusted EBITDA $583,713 LQA Adjusted EBITDA (Adjusted EBITDA x 4) $2,334,854 DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022