EQUINIX INC

APPENDIX A

Non-GAAP Financial Measures

We have disclosed in this Proxy Statement a financial measure not in accordance with generally accepted accounting principles (“GAAP”). This non-GAAP measure is not an alternative for a measure prepared in accordance with GAAP and may be different from non-GAAP measures used by other companies. This measure should be considered in addition to financial measures prepared in accordance with GAAP but not as a substitute for, or superior to, GAAP results. This non-GAAP measure is used by management to assess our financial performance and as a measurement of our performance for certain incentive compensation purposes.

The Talent, Culture and Compensation Committee used AFFO/Share as a pre-established performance goal under the annual incentive plan for fiscal 2023, 2024 and 2025 and under certain of the fiscal 2023, 2024 and 2025 PSU awards.

Reconciliations of Non-GAAP Financial Measures

AFFO is derived from Funds from Operations (FFO) calculated in accordance with the standards established by the National Association of Real Estate Investment Trusts. Both FFO and AFFO are non-GAAP measures commonly used in the REIT industry. Although our measures may not be directly comparable to similar measures used by other companies, we believe that the presentation of these measures provides investors with an additional tool for comparing our performance with the performance of other companies in the REIT industry. Additionally, AFFO is a performance measure used in certain of our employee incentive programs and we believe it is a useful measure in assessing our dividend paying capacity as it isolates the cash impact of certain income and expense items and considers the impact of recurring capital expenditures.

We define FFO as net income attributable to common stockholders excluding:

•gain or loss from the disposition of real estate assets

•depreciation and amortization expense on real estate assets

•adjustments for unconsolidated joint ventures' and non-controlling interests' share of these items

We define AFFO as FFO adjusted for:

•depreciation and amortization expense on non-real estate assets

•accretion expense

•stock-based compensation expense

•stock-based charitable contributions

•restructuring and other exit charges, as described above

•impairment charges

•transaction costs

•an adjustment to remove the impacts of straight-lining installation revenue

•an adjustment to remove the impacts of straight-lining rent expense

•an adjustment to remove the impacts of straight-lining contract costs

•amortization of deferred financing costs and debt discounts and premiums

•gain or loss from the disposition of non-real estate assets

•gain or loss on debt extinguishment

•an income tax expense adjustment, which represents the non-cash tax impact due to changes in valuation allowances, uncertain tax positions and deferred taxes

•recurring capital expenditures, which represent expenditures to extend the useful life of data centers or other assets that are required to support current revenues

•net income or loss from discontinued operations, net of tax

•adjustments from FFO to AFFO for unconsolidated joint ventures' and non-controlling interests' share of these items

The following tables present reconciliations of our most comparable GAAP measures to our non-GAAP measures presented: