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PEPR is externally managed by ProLogis Management S.à r.l., a wholly owned subsidiary of Prologis, Inc., in accordance with the Management Regulations. These Regulations set out the nature and extent of unitholders rights, matters over which the management company has authority and the limits beyond which Board approval must be sought. In all other respects, PEPR’s management company manages the day-to-day activities of PEPR in the exclusive interest of its unitholders.

The Management Regulations are contained in the "Prospectus dated 13 November 2009 as amended by the supplements dated 23 August 2010, 1 November 2010 and 23 August 2011".

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