EQUINIX INC

2024 EXECUTIVE COMPENSATION PROGRAM

Program Philosophy and Objectives

Our executive compensation philosophy is to provide competitive total rewards programs globally to attract and retain top talent, utilizing a pay-for-performance strategy at both the company and the individual level. Consistent with our compensation philosophy, the target total direct compensation of each named executive officer had a significant percentage tied to performance, as illustrated by the potential pay mix described above, to reward both achievement of

annual objectives and delivery on performance indicators directly linked to our ability to deliver sustained, long-term value to stockholders. We believe our strong performance in recent years—and the fact that a significant percentage of each named executive officer’s total compensation is either tied to performance or is “at risk”— supports our compensation philosophy.

How We Determine Compensation

The Talent, Culture and Compensation Committee considers the following factors when determining compensation, with no single factor being determinative:

Principal Elements of Executive Compensation

The table below sets forth the principal components of our 2024 executive compensation program.

Base Salary

The Talent, Culture and Compensation Committee reviews and approves the base salary of each then-serving named executive officer at the beginning of each year, taking into account the considerations described under “Compensation Decision-Making Framework.”

(1)Ms. Fox-Martin assumed the role of CEO effective June 3, 2024, at which time Mr. Meyers transitioned to the role of Executive Chairman. The salaries reported here reflect the annual salaries for each executive effective upon this leadership transition. Prior to this transition, Mr. Meyer’s salary in his role as CEO was unchanged from 2023. See the Summary Compensation Table below for the amounts earned by Ms. Fox-Martin and Mr. Meyers during 2024.

(2)Reflects Mr. Abdel and Mr. Lin’s salaries following the expansion of their responsibilities effective Sept. 26, 2024. See the Summary Compensation Table below for the amounts earned by Mr. Abdel and Mr. Lin during 2024.

Annual Incentive Compensation

Annual incentive compensation for the named executive officers is linked to attainment of Equinix’s corporate growth goals and is designed to incentivize meaningful growth. This collective focus on corporate performance at the executive level is designed to align senior leaders toward common goals. Importantly, all Equinix employees participate in the same annual incentive plan (“AIP”) as the named executive officers, further aligning our team around a common set of goals tied to our annual financial and strategic plans. As discussed above, while this results in overlap between the metrics used in our annual and long-term incentives, the Talent, Culture and Compensation Committee believes these metrics are key indicators of both short- and long-term performance outcomes. It takes this overlap into careful consideration in determining the payout level, payout curve and weighting of each metric to achieve an appropriate level of focus across the key drivers of our performance that underpin our short- and long-term incentives: revenue, AFFO/Share and relative total stockholder return.

As the chart included in “Performance Against Annual Incentive Plan Targets” below illustrates, the ability to earn above-target payouts under our annual incentive program is tied primarily to over performance with respect to AFFO/Share to collectively focus all employees, including executives, on operating profitably. In addition, we use revenue to focus our team on overall delivery—both maintaining existing revenue and growth during the year. The relative stability of this metric enables us to establish a very narrow performance band, where at least 95% of target must be achieved in order to meet threshold performance, and there is no above-target earning opportunity. Lastly, given the Talent, Culture and Compensation Committee’s view of the criticality of both revenue and AFFO/Share to measuring near-term performance, at least threshold achievement of both metrics is necessary in order for any funding to be earned under the annual incentive. In total, the maximum amount that may be paid to named executive officers under our annual incentive plan is 132% of target.

The annual incentive structure is as follows:

Calculation Methodology

The 2024 annual target bonus opportunities for each named executive officer were as follows:

(1)Ms. Fox-Martin assumed the role of CEO effective June 3, 2024, at which time Mr. Meyers transitioned to the role of Executive Chairman; at that time, his target bonus opportunity for the remainder of 2024 was adjusted accordingly in connection with this leadership transition. The dollar amount shown above reflects pro-rated target award based on Mr. Meyers’ actual salary and target bonus in effect during the year.

(2)For Messrs. Abdel and Lin, reflects their pro-rated target awards based on actual salaries in effect during the year. For Ms. Williamson, reflects a pro-rated target bonus award based on her start date in Mar. 2024.

Performance Against Annual Incentive Plan Targets

The following chart sets forth our results for 2024 relative to the targets established for each metric. To ensure our performance goals incentivize strong performance, the Talent, Culture and Compensation Committee set the threshold for all financial performance targets—revenue, AFFO/share and digital services revenue—meaningfully above prior-year targets and actual performance achieved. These results and associated payouts reflect formulaic outcomes based solely on corporate performance, without regard to individual performance. The Talent, Culture and Compensation Committee retains

discretion to adjust payouts based on its assessment of additional factors, including qualitative factors, if any, that the Talent, Culture and Compensation Committee deems relevant to the assessment of individual or corporate performance. For example, in 2024, we decided Equinix Metal would no longer be made commercially available as a digital services product and to wind down operations supporting the product. Because of this, the Talent, Culture, and Compensation Committee exercised its discretion to adjust the 2024 strategic modifier achievement results by using the full-year digital services revenue forecast as of July 2024, rather than the actual reported revenue for 2024.

The AIP Metrics and Strategic Modifier targets and results for 2024 were as follows:

(1)To the extent the strategic modifier was fully achieved, the maximum amount that may be paid to named executive officers under the plan is 132% (i.e., 120% of target + achievement of the strategic modifier at the maximum 10% level).

(2)For a full reconciliation of GAAP to non-GAAP financial measures, please refer to Appendix A.

(3)Programmatic adjustments under the annual incentive plan are made to ensure that we measure performance based on activities within the control of Equinix and our employees and exclude the impact of external or nonrecurring factors in a given year. Such adjustments may be positive or negative, and for 2024 adjustments to revenue and AFFO/Share included fluctuations in foreign currencies between budget estimates and actual rates, capital market activity, lease conversion impacts, certain one-time legal costs, certain xScale and data center fit-out benefits, other normalizing items, and one-time-adjustments not contemplated by Equinix at the time the performance goals were established.

(4)Our AFFO/Share reported result of $35.11 excludes $0.09 of integration costs, which were also excluded from the targets. The as-reported results were $35.02.

(5)The Digital Services Revenue (% Achieved) was calculated using the full-year digital services revenue forecast as of July 2024. This was due to our decision to no longer make Equinix Metal commercially available.

We attained 96% achievement of our social aspirations during 2024. Digital services revenue goals for 2024 were $647 million at threshold, $719 million at target and $791 million at maximum; actual achievement for the year was $691 million. As discussed above, the Talent, Culture and Compensation Committee approved use of the full-year digital services revenue forecast as of July 2024, rather than the reported revenue for 2024, in calculating achievement. The full-

year forecast as of July 2024 was $694 million. Based on these collective results, the annual incentive plan paid out at 94%, resulting in the payouts set forth below. The annual incentive bonus was paid in the form of fully vested RSUs, as in prior years, allowing Equinix to retain more cash in the business to fund our investments and to further align the executives’ incentives with our stockholders’ interests.

(1)Calculated based on the base salary in effect at year-end, except for Mr. Meyers, whose annual incentive was calculated based on the portion of the year he served as CEO and Executive Chairman. For Mr. Abdel and Mr. Lin, salaries have been prorated to account for promotions and changes in salary as of Sept. 26, 2024. Pursuant to Ms. Fox-Martin’s offer of employment, her bonus was not pro-rated for 2024.

(2)This value of the bonus award was delivered in the form of fully vested RSUs paid in shares with the number of shares calculated using a stock price of $854.99, which was the closing price of Equinix’s common stock on Mar. 12, 2025, the date the RSUs were granted. Cash was paid in lieu of any fractional shares.

(3)Ms. Williamson ceased serving in her role as Chief Customer and Revenue Officer following entry into her separation agreement in Nov. 2024, but remained with the company as a non-executive employee through Mar. 1, 2025. She is included in this CD&A as required by Regulation S-K, Item 402 (a)(3)(iv). Pursuant to the terms of her Separation Agreement, she received her annual incentive award as determined per the 2024 annual incentive plan outlined above. This value of the bonus award was delivered in the form of fully vested RSUs paid in shares with the number of shares calculated using a stock price of $904.62, which was the closing price of Equinix’s common stock on Feb. 28, 2025, the date the RSUs were granted. Cash was paid in lieu of any fractional shares.

Long-Term Equity Compensation

As part of our annual compensation program, we provide long-term incentive awards using a mix of time-based and performance-based equity. The Talent, Culture and Compensation Committee believes that stock awards encourage executive performance by focusing on long-term stockholder value.

Our equity awards also accrue dividend equivalents, which vest on the same schedule as the underlying award and are settled in cash, and therefore no dividend equivalents are paid on awards unless and until the underlying award becomes earned and vested.

2024 Long-Term Incentive Design

As outlined above, in alignment with stockholder feedback received, for 2024 the Talent, Culture and Compensation Committee increased the weighting of the financial and rTSR PSU components of our long-

term incentive awards from 60% to 67% of the total award mix. The Talent, Culture and Compensation Committee also updated the performance metrics under our long-term incentive framework to (1) remove digital services revenue as a PSU performance metric, and proportionally increase the weighting of the revenue and AFFO/Share components, and (2) transition the comparator group for purposes of assessing performance under the rTSR PSU component from the Russell 1000 to the S&P 500 Total Return Index (SPTR). In making these changes, the Talent, Culture and Compensation Committee considered that (1) digital services growth has become a large enough component of our overall business that its performance will adequately impact overall revenue results, and (2) that the S&P 500 Total Return Index provides a more aligned but still appropriately broad, diversified benchmark against which to compare our performance. The components and weightings of our 2024 long-term incentive awards are set forth below.

*Payouts for results between performance levels are interpolated on a straight-line basis.

The following table presents the overall target value and number of shares that could/can be earned by each named executive for each equity award component. See the section entitled “2024 Grants of Plan-Based Awards” elsewhere in this proxy statement for the grant date fair values related to each award component. The amounts reported for Ms. Fox-Martin

and Ms. Williamson were determined by the Talent, Culture and Compensation Committee following arms-length negotiations in connection with their respective hires during 2024, and follow the same vesting schedule as the annual awards granted to named executive officers during 2024.

(1)Converted from target value using the 30-day trading price of Equinix’s common stock on the date of grant rounded to the nearest whole share.

(2)Ms. Fox-Martin’s award value was determined by the Talent, Culture and Compensation Committee following arms-length negotiation in connection with her hiring during 2024, and her awards follow the same vesting schedule as the annual awards granted to other named executive officers during 2024. The amount reported here excludes the one-time, make-whole sign-on RSUs Ms. Fox-Martin received upon hire described in “2024 Leadership Transition and Compensation” above.

(3)In determining Mr. Meyers’ target award value for 2024, the Talent, Culture and Compensation Committee considered his service as CEO into June 2024, as well as the criticality of his contributions in ensuring a smooth CEO succession process and his expected contributions as Executive Chairman post-June 2024. In his ongoing role as Executive Chairman, the Talent, Culture and Compensation Committee expects his future annual awards will be comparable to those of our prior Executive Chairman, Mr. Van Camp.

(4)Ms. Williamson’s award value was determined by the Talent, Culture and Compensation Committee following arms-length negotiation in connection with her hiring during 2024. The amount reported here excludes the $1,500,000 service-based RSUs Ms. Williamson received upon hire on Mar. 25, 2024. In connection with the termination of Ms. Williamson’s employment effective Mar. 1, 2025, she entered into a Separation Agreement that addresses the vesting and/or forfeiture of these awards. See “NEO Transition-Related Compensation” for further information.

Service-Based Awards

The Service-Based Awards granted in 2024 are scheduled to vest in three equal tranches on the first trading day that coincides with or follows Jan. 15th in each of 2025, 2026 and 2027, subject to the recipient’s continued service on each vesting date.

2024 Financial Incentive Awards

The amount that could be earned under these awards could range from 0% to 200% of target. Like the awards in 2023, the 2024 awards used a one-year performance period, with any earned awards subject to an additional service-based vesting over the following two years. Specifically, 50% of any earned financial incentive PSUs vested upon the date of

financial performance certification in Feb. 2025; 25% of the earned PSUs will vest on Feb. 15, 2026; and the remaining 25% of the earned PSUs will vest on Feb. 15, 2027, in each case, subject to the recipient’s continued service through each vesting date. The Talent, Culture and Compensation Committee deemed this structure to be appropriate given that our recurring revenue business model makes one-year performance highly impactful on our long-term success, and allows for more rigorous goal-setting than a three-year performance period. The Committee also considered that this structure is consistent with the practices of many of the peer companies with whom we compete for talent.

Long-Term Incentive Performance Against Targets

(1)For a full reconciliation of GAAP to non-GAAP financial measures, please refer to Appendix A.

(2)Programmatic adjustments under the financial incentive awards are made to ensure that we measure performance based on activities within the control of Equinix and our employees and exclude the impact of external or nonrecurring factors in a given year. Such adjustments may be positive or negative, and for 2024 adjustments to revenue and AFFO/Share included fluctuations in foreign currencies between budget estimates and actual rates, capital market activity, lease conversion impacts, certain one-time legal costs, certain xScale and data center fit-out benefits, other normalizing items and one-time-adjustments not contemplated by Equinix at the time the performance goals were established.

(3)Our AFFO/Share reported result of $35.11 excludes $0.09 of integration costs, which were also excluded from the targets. The as-reported results were $35.02.

For each metric noted above, the number of PSUs earned was determined upon certification by the Talent, Culture and Compensation Committee that Equinix had achieved at least the threshold performance level noted above. In setting these goals, the Talent, Culture and Compensation Committee sought to incentivize stretch performance by setting threshold goals in alignment with the company’s 2024 operating plan, with target goals requiring performance meaningfully above plan. In addition, achievement of threshold performance for both revenue and AFFO/share required performance meaningfully above prior year targets and actual performance achieved for both measures. Performance against these goals was adjusted in the same manner as described above with respect to our annual incentive awards.

2024 TSR Awards

The number of shares to be earned under the TSR Performance-Based Awards granted in 2024 will be determined based on the TSR of EQIX as measured against the TSR of the SPTR over a three-year performance period, calculated using the 30-day trading averages for both EQIX and the SPTR Index prior to the start (Jan. 1, 2024) and the end (Dec. 31, 2026) of the performance period. The number of PSUs vesting under the TSR Performance-Based Awards scale up or down such that the target shares increase or decrease by 2% for every 1% that Equinix’s TSR

exceeds or falls below the SPTR. Accordingly, payouts are reduced meaningfully for performance below target, and no payout can be achieved for performance that falls 50% or more below the TSR of the SPTR over the performance period. The Talent, Culture and Compensation Committee believes a broad-based index like the S&P 500 Total Return Index, rather than a specific REIT or technology industry index, is most appropriate given the effect of the company’s hybrid Technology-REIT business on our competitive and marketing positioning discussed in the section entitled, “Our Compensation Peer Group” below.

The maximum number of shares that can be earned under this award is 200% of target. However, the payout for the TSR Performance-Based Awards granted in 2024 cannot exceed target if EQIX’s absolute TSR is negative over the performance period. Vesting will occur in early 2027 upon certification by the Talent, Culture and Compensation Committee of actual TSR for the performance period, subject to the recipient’s continued service through the vesting date.

2022 TSR Awards Achievement

In Jan. 2025, the Talent, Culture and Compensation Committee certified performance under the 2022 TSR Performance-Based Awards that measured the TSR of EQIX against the TSR of the Russell 1000 over the three-year performance period ending Dec. 31, 2024.

Equity Received

Based on these results, each named executive officer received 95% of his or her target 2024 Financial Incentive Award and 84.83% of their target 2022 TSR award as follows:

(1)Ms. Fox-Martin and Ms. Williamson commenced work at Equinix in June 2024 and Mar. 2024, respectively, and therefore did not hold the TSR award granted in 2022.

(2)Ms. Williamson’s employment with Equinix terminated as of Mar. 1, 2025. In accordance with the terms of her Separation Agreement, the amount reported represents 50% of the financial performance PSUs granted to Ms. Williamson in Mar. 2024; the remaining 50% of that award was forfeited in connection with her departure. See “NEO Transition-Related Compensation” below.

NEO Transition-Related Compensation

As noted above, as Chief Executive Officer, Ms. Fox-Martin has sought to align our talent with Equinix’s go-forward strategic priorities. In connection with these talent alignment efforts, Mr. Abdel’s and Mr. Lin’s roles and responsibilities were expanded during 2024. Mr. Abdel, as EVP, Global Operations, took on an expanded remit focused on accelerating, innovating and operating our facilities to meet market demand and grow our company’s relevance. Mr. Lin was appointed Chief Business Officer in Sept. 2024 to ensure focus on developing an integrated portfolio of products that elevates our customers’ experiences, delivers exceptional value, drives growth, manages the integrated global profits and losses and positions us as a market leader across all global markets. Accordingly and as noted above, Mr. Abdel’s and Mr. Lin’s salaries were increased in Sept. 2024 to reflect their expanded responsibilities, and in Dec. 2024, each received a promotion award of RSUs with a target value of $2,000,000 for Mr. Abdel and $1,500,000 for Mr. Lin. These promotion service-based RSUs vest as to 16.67% of the RSUs granted on the first trading day that coincides with or follows June 1, 2025, with an additional 16.67% vesting each Dec. 1st and June 1st thereafter until fully vested.

In a separate NEO transition, Ms. Williamson ceased serving in her role as Chief Customer and Revenue Officer following entry into her separation agreement in Nov. 2024, but remained with the company as a non-executive employee through Mar. 1, 2025. The Separation Agreement and General Release of Claims entered into between Equinix and Ms. Williamson provided for the following payments and benefits, as she was entitled to under her offer of employment:

•A notice period of four months, during which time she remained an employee of Equinix, entitled to her base salary, annual bonus, vesting of her equity awards and other employee benefits, entitling her to her annual incentive award for 2024 performance, determined in the ordinary course based on actual company performance as described above, the vesting of one-third (i.e., 886) of the time-based RSUs granted to Ms. Williamson in Mar. 2024 (the remaining two-thirds were forfeited), and vesting at actual performance of one-half (i.e., 1,799) of the financial incentive PSUs granted to Ms. Williamson in Mar. 2024 (the remainder were forfeited).

•Vesting in full of the sign-on award of 1,727 time-based RSUs granted to Ms. Williamson in Mar. 2024 upon her termination.

•Payment of Cobra benefits for 12 months following Ms. Williamson’s termination date.

•For the avoidance of doubt, the rTSR PSUs granted to Ms. Williamson in Mar. 2024 were forfeited in full in connection with her termination.