Digital Realty Trust (DLR) Risk Factor Changes

information security, cyberattacks, security breaches and data privacy breaches;

Further, the rules dealing with U.S.

Our total consolidated indebtedness at December 31, 2025 was approximately $18.6 billion, and we may incur significant additional debt to finance future acquisition, investment and development activities.

Federal policies, including the imposition of tariffs and the adoption of reciprocal tariffs by affected countries, and recent global events, such as the rising price of oil and the conflict between Russia and Ukraine…

delays or denials of entitlements or permits, including zoning and related permits, or other delays resulting from requirements of public agencies and utility companies, public or government opposition, or other third…

We have in the past and may continue in the future to acquire businesses as part of our growth strategy.

Our portfolio included 192 data centers, including 60 held in unconsolidated entities, located outside of the United States as of December 31, 2025.

The technology industry generally and specific industries in which certain of our customers operate are characterized by rapidly changing technology, customer requirements and industry standards.

The development of our data centers requires the timely delivery of required equipment and materials.

Epidemics, pandemics or other outbreaks of an illness, disease or virus that affect countries or regions in which we or our customers, suppliers or business partners operate, and actions taken to contain or prevent th…

Annualized rent is monthly contractual rent (defined as cash base rent before abatements) under existing leases as of December 31, 2025 multiplied by 12.

Our portfolio is located in over 50 metropolitan areas.

In addition, as of December 31, 2025, customer agreements representing 23.3% of the square footage of the properties in our portfolio, excluding month-to-month leases and space held for development, were scheduled to…

Because many of our data centers contain tenant improvements installed at our customers’ expense, they may be better suited for a specific data center user or technology industry customer and could require significant…

We are subject to ongoing cyberattacks and other security incidents, including attempts to gain unauthorized access to our systems, and we expect such attempts to continue.

We rely on computer systems, hardware, software, online sites and networks, as well as physical, digital and operational technology infrastructure to support our internal and external operations (collectively, “Inform…

If our competitors offer space that our customers or potential customers perceive to be superior to ours based on factors such as available power, security, location, or connectivity, or if they offer rental rates bel…

In addition, we may be subject to risks and unanticipated costs associated with obtaining power from various utility companies.

We are in the business of owning, acquiring, developing and operating data centers.

Even if Digital Realty Trust, Inc.

We currently, and may in the future, co-invest with third parties through partnerships, joint ventures or other entities, acquiring non-controlling interests in or sharing responsibility for managing the affairs of a…

With respect to the United Kingdom’s withdrawal from the European Union, significant political and economic uncertainty remains about how the precise terms of the relationship between the parties will differ from the…

supply chain constraints on our future supply chain and procurement process cannot be reasonably estimated at this time and it could have a material adverse impact on our business and financial condition.

customers’, suppliers’ or business partners’ businesses, or otherwise result in significant disruptions to our business and operations or theirs.

In addition, as of December 31, 2024, customer agreements representing 23.3% of the square footage of the properties in

Regulators around the world are increasingly focusing on, and investigating, cybersecurity matters.

If our competitors offer space that our customers or potential customers perceive to be superior to ours based on factors such as available power, security, location, or connectivity, or if they offer rental rates bel…

Disruptions in the oil and gas and electric power markets have caused, and could continue to cause, significant increases in energy prices, which could have a material effect on our business.

or consolidations of technology companies could reduce further the number of our customers and potential customers and make us more dependent on a more limited number of customers.

Various estimates are used in the preparation of our financial statements, including estimates related to asset and liability valuations (or potential impairments), and receivables.

We have begun leveraging AI and machine learning capabilities for our employees to use in their day-to-day operations.

epidemics, pandemics and other outbreaks;

Furthermore, we may in certain circumstances be liable for the actions of our third-party partners.

Our partners may have economic, tax or other business interests or goals which are inconsistent with our business interests or goals, and may be in a position to take actions contrary to our policies or objectives.

We currently, and may in the future, co-invest with third parties through partnerships, joint ventures, funds or other entities, acquiring non-controlling interests in or sharing responsibility for managing the affair…

Geopolitical events may impact our operations and financial results.

Regulators around the world are increasingly focusing on, and investigating, cybersecurity matters.

We rely on numerous electrical, heating and cooling, fire protection, energy storage and battery backup, uninterruptible power systems, and emergency power generation systems and equipment to operate our facilities.

Disruptions in the oil and gas and electric power markets have caused, and could continue to cause, significant increases in energy prices, which could have a material effect on our business.

Increases in the cost of power at any of our data centers could put those locations at a competitive disadvantage relative to data centers that are supplied power at a lower price.

Volatility in market and economic conditions may impact the accuracy of the various estimates used in the preparation of our financial statements and footnotes to the financial statements.

As artificial intelligence becomes more prevalent in the workplace, it may present new considerations that could affect our business and operating results.