Digital Realty Trust (DLR) 8-K Results of Operations and Financial Condition

Exhibit 99.2

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

	PAGE
Corporate Data
Corporate Information		4
Ownership Structure		6
Consolidated Financial Information
Key Quarterly Financial Data		7
Consolidated Balance Sheets		8
Consolidated Quarterly Statements of Operations		9
Funds From Operations and Adjusted Funds From Operations		10
Reconciliation of Earnings Before Interest, Taxes, Depreciation and Amortization and Financial Ratios		11
Net Operating Income (NOI) and Run-rate NOI for the Three Months Ended September 30, 2010		12
Same Store and New Properties Consolidated Quarterly Statements of Operations		13
Same Store Operating Trend Summary		14
Consolidated Debt Analysis and Credit Facility		15
Revolving Credit Facility Commitments		16
Debt Maturities		17
Debt Analysis & Covenant Compliance		18
Portfolio Data
Portfolio Summary		19
Properties Acquired		20
Occupancy Analysis		21
Major Tenants		24
Lease Expirations & Lease Distribution		25
Lease Expirations — By Property Type		26
Leasing Activity		28
Tenant Improvements and Leasing Commissions		29
Historical Capital Expenditures		30
Redevelopment Activity		31
Definitions
Management Statements on Non-GAAP Supplemental Measures		32

Page 2

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Statement Regarding Forward-Looking Statements

This supplemental package contains forward-looking statements within the meaning of the federal securities laws, including information related to run-rate net operating income, trends, leasing expectations, weighted average remaining lease terms, the exercise of lease extensions, lease expirations, debt maturities, annualized rent at expiration of leases, the effect new leases and increases in rental rates will have on our rental revenue and other forward-looking financial data. Such statements are based on management’s beliefs and assumptions made based on information currently available to management. Such statements 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 control. 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. Some 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 following:

• the impact of the recent deterioration in global economic, credit and market conditions;

• current local economic conditions in our geographic markets;

• decreases in information technology spending, including as a result of economic slowdowns or recession;

• adverse economic or real estate developments in our industry or the industry sectors that we sell to (including risks relating to decreasing real estate valuations and impairment charges);

• our dependence upon significant tenants;

• bankruptcy or insolvency of a major tenant or a significant number of smaller tenants;

• defaults on or non-renewal of leases by tenants;

• our failure to obtain necessary debt and equity financing;

• increased interest rates and operating costs;

• our failure to repay debt when due or our breach of covenants or other terms contained in our loan facilities and agreements;

• financial market fluctuations;

• changes in foreign currency exchange rates;

• our inability to manage our growth effectively;

• difficulty acquiring or operating properties in foreign jurisdictions;

• our failure to successfully operate acquired or redeveloped properties;

• risks related to joint venture investments, including as a result of our lack of control of such investments;

• delays or unexpected costs in development or redevelopment of properties;

• decreased rental rates or increased vacancy rates;

• increased competition or available supply of data center space;

• our inability to successfully develop and lease new properties and space held for redevelopment;

• our difficulties in identifying properties to acquire and completing acquisitions;

• our inability to acquire off-market properties;

• our inability to comply with the rules and regulations applicable to reporting companies;

• our failure to maintain our status as a REIT;

• possible adverse changes to tax laws;

• restrictions on our ability to engage in certain business activities;

• environmental uncertainties and risks related to natural disasters;

• changes in foreign laws and regulations, including those related to taxation and real estate ownership and operation; and

• changes in real estate and zoning laws and increases in real property tax rates.

The risks included here are not exhaustive, and additional factors could adversely affect our business and financial performance. We discussed a number of additional material risks in our annual report on Form 10-K for the year ended December 31, 2009, 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 materially 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.

Page 3

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Corporate Information

Corporate Profile

Digital Realty Trust, Inc. owns, acquires, redevelops, develops and manages technology-related real estate. The Company is focused on providing Turn-Key Datacenter^® and Powered Base Building^® datacenter solutions for domestic and international tenants across a variety of industry verticals ranging from information technology and Internet enterprises, to manufacturing and financial services. The Company’s 95 properties, excluding two properties held as investments in unconsolidated joint ventures, contain applications and operations critical to the day-to-day operations of technology industry tenants and corporate enterprise datacenter tenants. Comprising approximately 16.4 million net rentable square feet, including approximately 1.9 million square feet of space held for redevelopment, Digital Realty Trust’s property portfolio is located throughout North America and Europe. For additional information, please visit the company’s website at www.digitalrealtytrust.com.

Corporate Headquarters

560 Mission Street, Suite 2900

San Francisco, California 94105

Telephone: (415) 738-6500

Facsimile: (415) 738-6501

Web site: www.digitalrealtytrust.com

Senior Management

Richard A. Magnuson: Chairman

Michael F. Foust: Chief Executive Officer

A. William Stein: Chief Financial Officer and Chief Investment Officer

Scott E. Peterson: Senior Vice President, Acquisitions

Christopher J. Crosby: Senior Vice President, Corporate Development

David J. Caron: Senior Vice President, Portfolio Management

Investor Relations

To request an Investor Relations package or be added to our e-mail distribution list, please visit our website:

www.digitalrealtytrust.com (Proceed to Information Request in the Investor Relations section)

Analyst Coverage

Credit Suisse	UBS	JMP Securities	Deutsche Bank	Macquarie
Andrew Rossivach	Ross Nussbaum	William C. Marks	John Perry	Rob Stevenson
(415) 249-7941	(212) 713-2484	(415) 835-8944	(212) 250-4912	(212) 231-8068
Suzanne Kim	Robert Salisbury	Mitch Germain	Vincent Chao	Nicolas Yulico
(415) 249-7943	(212) 713-4760	(212) 906-3546	(212) 250-6799	(212) 231-8028
Green Street	FBR	Citigroup	Baird	Bank of America
John Stewart	Sri Nagarajan	Michael Bilerman	Christopher R. Lucas	Jeffrey Spector
(949) 640-8780	(646) 885-5429	(212) 816-1685	(703) 821-5780	(646) 855-1363
Lukas Hartwich	Evan Smith	Mark Montandon	David S. Nebinski	Jana Galan
(949) 640-8780	(646) 885-6431	(212) 816-6243	(703) 918-7854	(646) 855-3081
RBC Capital Markets	Raymond James	KeyBanc Capital Markets	ISI	Stifel Nicolaus
Dave Rodgers	Paul D. Puryear	Jordan Sadler	Steve Sakwa	Todd Weller
(440) 715-2647	(727) 567-2253	(917) 368-2280	(212) 446-9462	(443) 224-1305
Mike Carroll	William A. Crowe	Craig Mailman	George Auerbach	Ben Lowe
(440) 715-2649	(727) 567-2594	(917) 368-2316	(212) 446-9459	(443) 224-1264
Oppenheimer	Guggenheim	Barclays Capital
Srinivas Anantha	Michael Bowen	Ross Smotrich
(617) 428-5960	(212) 381-4162	(212) 526-2306
	Brian Siu	Matthew Rand
	(212) 292-4778	(212) 526-0248

This Supplemental Operating and Financial Data package supplements the information provided in our quarterly and annual reports filed with the Securities and Exchange Commission. Additional information about us and our properties is also available at our website www.digitalrealtytrust.com.

Page 4

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Corporate Information

Stock Listing Information

The stock of Digital Realty Trust, Inc. is traded primarily on the New York Stock Exchange under the following symbols:

Common Stock:	DLR
Series B Preferred Stock:	DLRPB

Note that symbols may vary by stock quote provider.

Credit Ratings
Standard & Poors
Corporate Credit Rating	BBB	(Stable Outlook)
Moody’s
Issuer Rating	Baa2	(Stable Outlook)
Fitch
Credit Assessment of Issuer	BBB	(Stable Outlook)
Credit Assessment of Preferred Stock	BB+	(Stable Outlook)

These credit ratings may not reflect the potential impact of risks relating to the structure or trading of the Company’s securities and are provided solely for informational purposes. Credit ratings are not recommendations to buy, sell or hold any security, and may be revised or withdrawn at any time by the issuing organization in its sole discretion. The Company does not undertake any obligation to maintain the ratings or to advise of any change in ratings. Each agency’s rating should be evaluated independently of any other agency’s rating. An explanation of the significance of the ratings may be obtained from each of the rating agencies.

Common Stock Price Performance

The following summarizes recent activity of Digital Realty Trust’s common stock (DLR):

	3rd Quarter 2010			2nd Quarter 2010			1st Quarter 2010			4th Quarter 2009			3rd Quarter 2009			2nd Quarter 2009			1st Quarter 2009
High Price *	$	64.06		$	64.17		$	56.60		$	50.81		$	48.21		$	39.84		$	35.70
Low Price *	$	56.23		$	51.77		$	46.21		$	42.94		$	34.27		$	32.14		$	24.96
Closing Price, end of quarter *	$	61.70		$	57.68		$	54.20		$	50.28		$	45.71		$	35.85		$	33.18
Average daily trading volume *		1,094,573			1,254,652			975,779			1,149,605			1,362,583			2,258,424			2,074,752
Indicated dividend per common share **	$	2.120		$	1.920		$	1.920		$	1.800		$	1.440		$	1.320		$	1.320
Closing annual dividend yield, end of quarter		3.4	%		3.3	%		3.5	%		3.6	%		3.2	%		3.7	%		4.0	%
Closing shares and units outstanding, end of quarter ***		94,895,869			92,586,978			83,638,744			82,231,880			82,173,996			82,013,377			81,980,716
Closing market value of shares and units outstanding (thousands), end of quarter	$	5,855,075		$	5,340,417		$	4,533,220		$	4,134,619		$	3,756,173		$	2,940,180		$	2,720,120

* New York Stock Exchange trades only.

** On an annual basis.

*** As of September 30, 2010, the total number of shares and units includes 89,419,253 shares of common stock, 3,970,549 common units held by third parties and 1,506,067 common units, vested and unvested long-term incentive units and vested and unvested class C units held by officers and directors, and excludes all unexercised common stock options and all shares potentially issuable upon exchange of our 4.125% exchangeable senior debentures due 2026 and 5.50% exchangeable senior debentures due 2029 or upon conversion of our series C and series D cumulative convertible preferred stock.

This Supplemental Operating and Financial Data package supplements the information provided in our quarterly and annual reports filed with the Securities and Exchange Commission. Additional information about us and our properties is also available at our website www.digitalrealtytrust.com.

Page 5

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Ownership Structure

As of September 30, 2010

Partner	# of Units(2)		% Ownership
Digital Realty Trust, Inc.		89,419,253		94.2	%
Cambay Tele.com, LLC(3)		3,937,827		4.2	%
Wave Exchange, LLC(3)		32,722		0.0	%
Directors, Executive Officers and Others		1,506,067		1.6	%
Total		94,895,869		100.0	%

(1) Reflects limited partnership interests held by our officers and directors in the form of common units and vested and unvested long-term incentive units and excludes unvested class C units and all unexercised common stock options.

(2) The total number of shares and units includes 89,419,253 shares of common stock, 3,970,549 common units held by third parties and 1,506,067 common units, vested and unvested long-term incentive units and vested and unvested class C units held by officers and directors, and excludes all unexercised common stock options and all shares potentially issuable upon exchange of our 4.125% exchangeable senior debentures due 2026 and 5.50% exchangeable senior debentures due 2029 or upon conversion of our series C and series D cumulative convertible preferred stock.

(3) These third-party contributors received the common units (along with cash and our operating partnership’s assumed debt) in exchange for their interests in 200 Paul Avenue 1-4, 1100 Space Park Drive, the eXchange colocation business and other specified assets and liabilities. Includes 409,913 common units held by the members of Cambay Tele.com, LLC.

Page 6

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Key Quarterly Financial Data

(Unaudited and dollars in thousands, except per share data)

	For the three months ended or as of
	30-Sep-10			30-Jun-10			31-Mar-10			31-Dec-09			30-Sep-09			30-Jun-09			31-Mar-09
Shares and Units at End of Quarter
Common shares outstanding		89,419,253			87,049,946			78,176,655			76,812,783			76,519,219			76,140,807			76,042,511
Common units outstanding		5,476,616			5,537,032			5,462,089			5,419,097			5,654,777			5,872,570			5,938,205
Total shares and operating partnership units		94,895,869			92,586,978			83,638,744			82,231,880			82,173,996			82,013,377			81,980,716
Enterprise Value
Market value of common equity(1)	$	5,855,075		$	5,340,417		$	4,533,220		$	4,134,619		$	3,756,173		$	2,940,180		$	2,720,120
Liquidation value of preferred equity		582,931			686,611			686,637			686,637			686,637			686,637			686,637
Total debt at balance sheet carrying value		2,721,599			2,124,710			2,168,209			1,784,444			1,599,270			1,519,506			1,439,688
Total enterprise value	$	9,159,605		$	8,151,738		$	7,388,066		$	6,605,700		$	6,042,080		$	5,146,323		$	4,846,445
Total debt/Total enterprise value		29.7	%		26.1	%		29.3	%		27.0	%		26.5	%		29.5	%		29.7	%
Selected Balance Sheet Data
Investments in real estate (before depreciation)	$	4,953,540		$	4,094,476		$	4,003,523		$	3,616,714		$	3,416,083		$	3,283,874		$	3,155,062
Total assets		5,170,899			4,501,032			4,147,586			3,745,059			3,532,418			3,444,708			3,351,613
Total liabilities		3,122,030			2,469,143			2,499,081			2,110,258			1,878,259			1,773,344			1,705,537
Selected Operating Data
Total operating revenues from continuing operations	$	237,486		$	197,464		$	191,779		$	169,774		$	163,227		$	155,007		$	149,134
Total operating expenses from continuing operations		177,085			143,314			136,584			119,690			117,571			112,161			109,931
Interest expense from continuing operations		36,737			33,162			30,902			24,451			22,559			22,495			18,937
Net income		23,626			19,902			25,586			24,897			23,945			21,203			21,189
Net income available to common stockholders		9,639			9,091			14,744			14,286			12,406			10,271			10,295
Financial Ratios
EBITDA(2)	$	117,930		$	104,188		$	103,894		$	90,840		$	85,737		$	82,241		$	75,972
Adjusted EBITDA(3)	$	131,917		$	114,999		$	114,736		$	101,451		$	97,276		$	93,173		$	86,866
Cash interest expense(4)	$	36,851		$	27,062		$	22,231		$	23,915		$	19,812		$	16,695		$	21,398
Fixed charges(5)	$	49,621		$	40,613		$	35,326		$	37,263		$	32,981		$	29,721		$	34,505
Debt service coverage ratio(6)		3.6x			4.2x			5.2x			4.2x			4.9x			5.6x			4.1x
Fixed charge coverage ratio(7)		2.7x			2.8x			3.2x			2.7x			2.9x			3.1x			2.5x
Profitability Measures
Net income per common share—basic	$	0.11		$	0.11		$	0.19		$	0.19		$	0.16		$	0.13		$	0.14
Net income per common share—diluted	$	0.11		$	0.11		$	0.18		$	0.18		$	0.16		$	0.13		$	0.14
Funds From Operations (FFO) per diluted share and unit(8)	$	0.81		$	0.76		$	0.81		$	0.79		$	0.74		$	0.71		$	0.70
Adjusted Funds From Operations (AFFO) per diluted share and unit(9)	$	0.75		$	0.65		$	0.67		$	0.62		$	0.59		$	0.51		$	0.53
Dividends per share and common unit	$	0.53		$	0.48		$	0.48		$	0.45		$	0.36		$	0.33		$	0.33
Diluted FFO payout ratio(10)		65.4	%		63.4	%		59.2	%		57.3	%		48.9	%		46.5	%		47.4	%
Diluted AFFO payout ratio(11)		70.7	%		73.3	%		71.4	%		72.2	%		61.0	%		64.7	%		62.3	%
Portfolio Statistics
Buildings		131			122			118			114			108			99			99
Properties		95			87			84			81			78			75			75
Net rentable square feet, excluding redevelopment space		14,456,127			13,270,035			13,211,992			12,573,634			11,964,522			11,854,886			11,784,573
Square feet held for redevelopment(12)		1,925,135			1,916,028			1,828,598			1,784,386			1,876,885			1,148,212			1,218,525
Occupancy at end of quarter(13)		95.0	%		95.0	%		95.2	%		95.0	%		95.2	%		94.8	%		95.1	%
Weighted average remaining lease term (years)(14)		6.9			7.2			7.2			7.3			7.4			7.5			7.6
Same store occupancy at end of quarter(13)(15)		94.7	%		95.0	%		95.0	%		94.7	%		95.2	%		94.8	%		95.1	%

(1) The market value of common equity is based on the closing stock price at the end of the quarter and assumes 100% redemption of the limited partnership units in our operating partnership, including common units and vested and unvested long-term incentive units (including vested and unvested class C units), for shares of our common stock. Excludes shares issuable with respect to stock options that have been granted but have not yet been exercised, and also excludes all shares potentially issuable upon exchange of our 4.125% exchangeable senior debentures due 2026 and 5.50% exchangeable senior debentures due 2029 or upon conversion of our series C and series D cumulative convertible preferred stock.

(2) EBITDA is calculated as earnings before interest, taxes, depreciation and amortization. For a discussion of EBITDA, see page 32. For a reconciliation of net income available to common stockholders to EBITDA, see page 11.

(3) Adjusted EBITDA is EBITDA adjusted for preferred dividends and minority interests. For a discussion of Adjusted EBITDA, see page 32. For a reconciliation of net income available to common stockholders to Adjusted EBITDA, see page 11.

(4) Cash interest expense is interest expense per our statement of operations (including interest expense on discontinued operations) less amortization of debt discount and deferred financing fees and includes interest that we capitalized. For a reconciliation of GAAP interest expense to cash interest expense, see page 11.

(5) Fixed charges consist of cash interest expense, scheduled debt principal payments and preferred dividends.

(6) Debt service coverage ratio is Adjusted EBITDA divided by cash interest expense.

(7) Fixed charge coverage ratio is Adjusted EBITDA divided by fixed charges.

(8) For a definition and discussion of FFO, see page 32. For a reconciliation of net income available to common stockholders to FFO, see page 10.

(9) For a definition and discussion of AFFO, see page 32. For a reconciliation of FFO to AFFO, see page 10.

(10) Diluted FFO payout ratio is dividends declared per common share and unit divided by diluted FFO per share and unit.

(11) Diluted AFFO payout ratio is dividends declared per common share and unit divided by diluted AFFO per share and unit.

(12) Redevelopment space requires significant capital investment in order to develop data center facilities that are ready for use. Most often this is shell space. However, in certain circumstances this may include partially built datacenter space that was not completed by previous ownership and requires a large capital investment in order to build out the space.

(13) Occupancy and same store occupancy exclude space held for redevelopment. For some of our properties, we calculate occupancy based on factors in addition to contractually leased square feet, including available power, required support space and common area.

(14) Average remaining lease term excludes renewal options, weighted by net rentable square feet.

(15) Same store properties were acquired before December 31, 2008.

Page 7

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Consolidated Balance Sheets

(Dollars in thousands, except share and per share data)

	September 30, 2010			December 31, 2009
	(unaudited)
ASSETS
Investments in real estate
Land	$	479,227		$	382,763
Acquired ground leases		6,468			2,767
Buildings and improvements		4,167,114			2,952,330
Tenant improvements		283,079			272,462
Investments in real estate		4,935,888			3,610,322
Accumulated depreciation and amortization		(604,075	)		(459,521	)
Net investments in properties		4,331,813			3,150,801
Investment in unconsolidated joint venture		17,652			6,392
Net investments in real estate		4,349,465			3,157,193
Cash and cash equivalents		66,493			72,320
Accounts and other receivables, net of allowance for doubtful accounts of $2,401 and $2,691 as of September 30, 2010 and December 31, 2009, respectively		83,309			46,086
Deferred rent		178,456			145,550
Acquired above market leases, net		44,026			25,861
Acquired in place lease value and deferred leasing costs, net		345,934			224,216
Deferred financing costs, net		24,352			21,073
Restricted cash		61,550			37,810
Other assets		17,314			14,950
Total Assets	$	5,170,899		$	3,745,059
LIABILITIES AND EQUITY
Revolving credit facility	$	220,565		$	205,547
Unsecured senior notes, net of discount		1,065,817			83,000
Exchangeable senior debentures, net of discount		374,054			432,234
Mortgage loans		1,050,663			1,063,663
Other secured loans		10,500			—
Accounts payable and other accrued liabilities		221,209			151,229
Accrued dividends and distributions		—			37,004
Acquired below market leases, net		98,777			69,311
Security deposits and prepaid rents		80,445			68,270
Total Liabilities		3,122,030			2,110,258
Commitments and contingencies		—			—
EQUITY:
Stockholders’ equity:
Preferred Stock: $0.01 par value, 30,000,000 authorized:
Series A Cumulative Redeemable Preferred Stock, 8.50%, zero and $103,500 liquidation preference ($25.00 per share), zero and 4,140,000 issued and outstanding, respectively		—			99,297
Series B Cumulative Redeemable Preferred Stock, 7.875%, $63,250 liquidation preference ($25.00 per share), 2,530,000 issued and outstanding		60,502			60,502
Series C Cumulative Convertible Preferred Stock, 4.375%, $174,998,875 liquidation preference ($25.00 per share), 6,999,955 issued and outstanding		169,067			169,067
Series D Cumulative Convertible Preferred Stock, 5.500%, $344,683 and $344,888 liquidation preference ($25.00 per share), 13,787,300 and 13,795,500 issued and outstanding, respectively		333,274			333,472
Common Stock: $0.01 par value, 145,000,000 authorized, 89,419,253 and 76,812,783 shares issued and outstanding as of September 30, 2010 and December 31, 2009, respectively		891			766
Additional paid-in capital		1,762,041			1,155,709
Dividends in excess of earnings		(324,716	)		(231,871	)
Accumulated other comprehensive income, net		(41,590	)		(27,947	)
Total stockholders’ equity		1,959,469			1,558,995
Noncontrolling interests:
Noncontrolling interest in operating partnership		53,717			58,192
Noncontrolling interest in consolidated joint venture		35,683			17,614
Total noncontrolling interests		89,400			75,806
Total Equity		2,048,869			1,634,801
Total Liabilities and Equity	$	5,170,899		$	3,745,059

Page 8

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Consolidated Quarterly Statements of Operations

(unaudited and in thousands, except share and per share data)

	Three Months Ended
	30-Sep-10			30-Jun-10			31-Mar-10			31-Dec-09			30-Sep-09			30-Jun-09			31-Mar-09
Rental	$	184,511		$	157,867		$	152,721		$	136,467		$	130,891		$	125,490		$	118,095
Tenant reimbursements		52,975			39,597			39,058			32,459			32,223			29,434			31,021
Other		—			—			—			848			113			83			18
Total operating revenues		237,486			197,464			191,779			169,774			163,227			155,007			149,134
Rental property operating and maintenance		74,156			54,406			53,242			46,086			45,278			42,301			42,573
Property taxes		14,030			12,748			12,721			8,349			9,295			9,149			9,211
Insurance		2,168			1,846			1,735			1,672			1,495			1,488			1,456
Depreciation and amortization		70,128			59,860			57,532			52,126			50,439			49,183			46,304
General and administrative		11,878			12,574			10,519			10,009			10,352			9,958			9,672
Transactions		4,666			1,715			833			1,354			308			82			430
Other		59			165			2			94			404			—			285
Total operating expenses		177,085			143,314			136,584			119,690			117,571			112,161			109,931
Operating income		60,401			54,150			55,195			50,084			45,656			42,846			39,203
Equity in earnings of unconsolidated joint venture		1,061			955			1,978			(776	)		1,091			741			1,116
Interest and other income		327			34			31			17			90			403			243
Interest expense		(36,737	)		(33,162	)		(30,902	)		(24,451	)		(22,559	)		(22,495	)		(18,937	)
Tax expense		(343	)		(534	)		(716	)		23			(333	)		(292	)		(436	)
Loss from early extinguishment of debt		(1,083	)		(1,541	)		—			—			—			—			—
Net income		23,626			19,902			25,586			24,897			23,945			21,203			21,189
Net income attributable to noncontrolling interests		(590	)		(710	)		(741	)		(510	)		(1,438	)		(831	)		(793	)
Net income attributable to Digital Realty Trust, Inc.		23,036			19,192			24,845			24,387			22,507			20,372			20,396
Preferred stock dividends		(9,194	)		(10,101	)		(10,101	)		(10,101	)		(10,101	)		(10,101	)		(10,101	)
Costs on redemption of Series A preferred		(4,203	)		—			—			—			—			—			—
Net income available to common stockholders	$	9,639		$	9,091		$	14,744		$	14,286		$	12,406		$	10,271		$	10,295
Net income per share available to common stockholders—basic	$	0.11		$	0.11		$	0.19		$	0.19		$	0.16		$	0.13		$	0.14
Net income per share available to common stockholders—diluted	$	0.11		$	0.11		$	0.18		$	0.18		$	0.16		$	0.13		$	0.14
Weighted-average shares outstanding—basic		87,908,953			80,542,329			77,770,691			76,649,529			76,301,577			76,121,380			74,703,755
Weighted-average shares outstanding—diluted		90,136,911			83,021,817			80,612,660			78,496,296			77,674,137			76,851,202			74,895,168
Weighted-average fully diluted shares and units		95,042,658			88,295,639			86,075,069			84,043,043			83,466,346			82,728,389			80,741,438

Page 9

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Funds From Operations (FFO)

(unaudited and in thousands, except per share data)

	Three Months Ended
	30-Sep-10			30-Jun-10			31-Mar-10			31-Dec-09			30-Sep-09			30-Jun-09			31-Mar-09
Reconciliation of net income available to common stockholders to FFO (Note):
Net income available to common stockholders	$	9,639		$	9,091		$	14,744		$	14,286		$	12,406		$	10,271		$	10,295
Adjustments:
Noncontrolling interests in operating partnership		537			560			973			984			898			757			793
Real estate related depreciation and amortization(1)		69,810			59,517			57,175			51,821			50,163			48,900			46,087
Real estate related depreciation and amortization related to investment in unconsolidated joint ventures		1,058			688			773			2,335			543			858			646
FFO available to common stockholders and unitholders	$	81,044		$	69,856		$	73,665		$	69,426		$	64,010		$	60,786		$	57,821
FFO per share and unit:
Basic	$	0.87		$	0.81		$	0.89		$	0.84		$	0.78		$	0.74		$	0.72
Diluted(2)	$	0.81		$	0.76		$	0.81		$	0.79		$	0.74		$	0.71		$	0.70
Weighted-average shares and units outstanding—basic		93,421			86,150			83,233			82,196			82,094			81,999			80,550
Weighted-average shares and units outstanding—diluted(2)		113,235			106,386			104,142			102,078			101,492			99,461			92,571
(1) Real estate depreciation and amortization was computed as follows:
Depreciation and amortization per income statement	$	70,128		$	59,860		$	57,532		$	52,126		$	50,439		$	49,183		$	46,304
Non-real estate depreciation		(318	)		(343	)		(357	)		(305	)		(276	)		(283	)		(217	)
	$	69,810		$	59,517		$	57,175		$	51,821		$	50,163		$	48,900		$	46,087

(2) At September 30, 2010, we had 7,000 series C convertible preferred shares and 13,787 series D convertible preferred shares outstanding that were convertible into 3,666 common shares and 8,316 common shares, respectively. In addition, we had a balance of $266,400 of 5.50% exchangeable senior debentures that were exchangeable for 6,210 common shares on a weighted average basis for the three months ended September 30, 2010. See below for calculations of diluted FFO available to common stockholders and unitholders and weighted average common stock and units outstanding.

FFO available to common stockholders and unitholders	$	81,044	$	69,856	$	73,665	$	69,426	$	64,010	$	60,786	$	57,821
Add: Series C convertible preferred dividends		1,914		1,914		1,914		1,914		1,914		1,914		1,914
Add: Series D convertible preferred dividends		4,739		4,742		4,742		4,742		4,742		4,742		4,742
Add: 5.50% exchangeable senior debentures interest expense		4,050		4,050		4,050		4,050		4,050		3,148		—
FFO available to common stockholders and unitholders — diluted	$	91,747	$	80,562	$	84,371	$	80,132	$	74,716	$	70,590	$	64,477
Weighted average common stock and units outstanding		93,421		86,150		83,233		82,196		82,094		81,999		80,550
Add: Effect of dilutive securities (excl. series C & D convert. preferred stock & 5.50% debentures)		1,622		2,146		2,842		1,847		1,373		730		191
Add: Effect of dilutive series C convertible preferred stock		3,666		3,657		3,657		3,625		3,615		3,615		3,615
Add: Effect of dilutive series D convertible preferred stock		8,316		8,238		8,215		8,215		8,215		8,215		8,215
Add: Effect of dilutive 5.50% exchangeable senior debentures		6,210		6,195		6,195		6,195		6,195		4,902		—
Weighted average common stock and units outstanding — diluted		113,235		106,386		104,142		102,078		101,492		99,461		92,571

Note: For a definition and discussion of FFO, see page 32.

Adjusted Funds From Operations (AFFO)

(unaudited and in thousands)

	Three Months Ended
	30-Sep-10			30-Jun-10			31-Mar-10			31-Dec-09			30-Sep-09			30-Jun-09			31-Mar-09
Reconciliation of FFO to AFFO:
Funds from operations available to common stockholders and unitholders (FFO)	$	81,044		$	69,856		$	73,665		$	69,426		$	64,010		$	60,786		$	57,821
Adjustments:
Non-real estate depreciation		318			343			357			305			276			283			217
Amortization of deferred financing costs		2,715			2,929			2,406			2,254			2,114			1,896			1,662
Amortization of debt discount		781			1,082			1,025			1,008			992			974			959
Non-cash compensation		2,942			3,229			2,188			2,273			2,185			2,130			1,520
Loss from early extinguishment of debt		1,083			1,541			—			—			—			—			—
Straight line rents		(11,861	)		(10,560	)		(11,099	)		(11,275	)		(11,669	)		(11,089	)		(11,308	)
Above and below market rent amortization		(1,800	)		(2,422	)		(2,283	)		(1,830	)		(1,953	)		(2,118	)		(2,139	)
Capitalized leasing compensation		(1,760	)		(2,026	)		(1,887	)		(1,968	)		(1,917	)		(1,414	)		(1,271	)
Recurring capital expenditures and tenant improvements		(735	)		(178	)		(2,024	)		(3,011	)		(2,980	)		(7,161	)		(496	)
Capitalized leasing commissions		(2,925	)		(4,866	)		(3,156	)		(4,038	)		(1,823	)		(2,467	)		(4,283	)
Costs on redemption of Series A preferred		4,203			—			—			—			—			—			—
AFFO available to common stockholders and unitholders	$	74,005		$	58,928		$	59,192		$	53,144		$	49,235		$	41,820		$	42,682

Note: For a definition and discussion of AFFO, see page 32. For a reconciliation of net income available to common stockholders to FFO, see above table.

Page 10

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Reconciliation of Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA)⁽¹⁾

(unaudited and in thousands)

	Three Months Ended
	30-Sep-10		30-Jun-10		31-Mar-10		31-Dec-09			30-Sep-09		30-Jun-09		31-Mar-09
Net income available to common stockholders	$	9,639	$	9,091	$	14,744	$	14,286		$	12,406	$	10,271	$	10,295
Interest		36,737		33,162		30,902		24,451			22,559		22,495		18,937
Loss from early extinguishment of debt		1,083		1,541		—		—			—		—		—
Taxes		343		534		716		(23	)		333		292		436
Depreciation and amortization		70,128		59,860		57,532		52,126			50,439		49,183		46,304
EBITDA		117,930		104,188		103,894		90,840			85,737		82,241		75,972
Noncontrolling interests		590		710		741		510			1,438		831		793
Preferred stock dividends		9,194		10,101		10,101		10,101			10,101		10,101		10,101
Costs on redemption of Series A preferred		4,203		—		—		—			—		—		—
Adjusted EBITDA	$	131,917	$	114,999	$	114,736	$	101,451		$	97,276	$	93,173	$	86,866

(1) For the definition and discussion of EBITDA and Adjusted EBITDA, see page 32.

Financial Ratios

(unaudited and in thousands)

	30-Sep-10			30-Jun-10			31-Mar-10			31-Dec-09			30-Sep-09			30-Jun-09			31-Mar-09
Total GAAP interest expense	$	36,737		$	33,162		$	30,902		$	24,451		$	22,559		$	22,495		$	18,937
Capitalized interest		2,723			2,511			1,907			1,950			2,027			2,147			3,072
Change in accrued interest and other non-cash amounts		(2,609	)		(8,611	)		(10,578	)		(2,486	)		(4,774	)		(7,947	)		(611	)
Cash interest expense (a)		36,851			27,062			22,231			23,915			19,812			16,695			21,398
Scheduled debt principal payments and preferred dividends		12,770			13,551			13,095			13,348			13,169			13,026			13,107
Total fixed charges (b)	$	49,621		$	40,613		$	35,326		$	37,263		$	32,981		$	29,721		$	34,505
Debt service coverage ratio based on GAAP interest expense (c)		3.6x			3.5x			3.7x			4.1x			4.3x			4.1x			4.6x
Debt service coverage ratio based on cash interest expense (c)		3.6x			4.2x			5.2x			4.2x			4.9x			5.6x			4.1x
Fixed charge coverage ratio based on GAAP interest expense (d)		2.7x			2.5x			2.6x			2.7x			2.7x			2.6x			2.7x
Fixed charge coverage ratio based on cash interest expense (d)		2.7x			2.8x			3.2x			2.7x			2.9x			3.1x			2.5x
Debt to total enterprise value including debt and preferred equity (e)		29.6	%		26.1	%		29.3	%		27.0	%		26.5	%		29.5	%		29.7	%
Debt plus preferred stock to total enterprise value including debt and preferred equity (f)		36.0	%		34.5	%		38.6	%		37.4	%		37.8	%		42.9	%		43.9	%
Pretax income to interest expense (g)		1.6x			1.6x			1.8x			2.0x			2.1x			1.9x			2.1x
Net Debt to Adjusted EBITDA (h)		5.0x			3.9x			4.6x			4.2x			4.0x			3.9x			3.9x

(a) Cash interest expense is interest expense less amortization of debt discount and deferred financing fees and includes interest that we capitalized. We consider cash interest expense to be a useful measure of interest as it excludes non-cash based interest expense.

(b) For a definition of Fixed Charges, see page 7.

(c) Adjusted EBITDA divided by interest expense.

(d) Adjusted EBITDA divided by fixed charges. Fixed charges include interest expense as per (a) above and scheduled debt principal payments and preferred dividends.

(e) Mortgage debt and other loans divided by mortgage debt and other loans plus the liquidation value of preferred stock and the market value of outstanding common stock and operating partnership units, assuming the redemption of operating partnership units for shares of our common stock.

(f) Same as (e), except numerator includes preferred stock.

(g) Calculated as income, including interest, divided by GAAP interest expense.

(h) Calculated as total debt at balance sheet carrying value (see page 7) less unrestricted cash and cash equivalents divided by Adjusted EBITDA multiplied by four.

Page 11

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Net Operating Income (NOI) and Run-rate NOI

For the Three Months Ended September 30, 2010

(unaudited and in thousands)

Rental revenues	$	184,511
Tenant reimbursements		52,975
Rental property operating and maintenance		(74,156	)
Property taxes		(14,030	)
Insurance		(2,168	)
NOI	$	147,132
Actual results of properties acquired during the quarter:
Rental revenues		(23,089	)
Tenant reimbursements		(7,651	)
Rental property operating and maintenance		11,043
Property taxes		748
Insurance		351
Projected full quarter of actual results of properties acquired during the quarter:
Rental revenues		26,553
Tenant reimbursements		8,734
Rental property operating and maintenance		(12,651	)
Property taxes		(796	)
Insurance		(419	)
Run-rate NOI	$	149,955
Reconciliation of net income available to common stockholders to NOI
Net income available to common stockholders	$	9,639
Other revenues		—
Interest expense		36,737
Depreciation and amortization		70,128
General and administrative expenses		11,878
Transactions		4,666
Tax expense		343
Loss from early extinguishment of debt		1,083
Other expenses		59
Equity in earnings of unconsolidated joint venture		(1,061	)
Interest and other income		(327	)
Net income attributable to noncontrolling interest		590
Preferred stock dividends		9,194
Costs on redemption of Series A preferred		4,203
NOI	$	147,132

Note: For a definition and discussion of NOI and Run-rate NOI, see page 32.

Page 12

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Same Store and New Properties Consolidated Quarterly Statements of Operations

(unaudited and in thousands)

	Three Months Ended
Same store(1)	30-Sep-10			30-Jun-10			31-Mar-10			31-Dec-09			30-Sep-09			30-Jun-09			31-Mar-09
Operating Revenues:
Rental	$	139,329		$	136,109		$	136,109		$	133,000		$	130,627		$	125,490		$	118,095
Tenant reimbursements		39,191			34,954			35,133			32,079			32,215			29,434			31,021
Other		—			—			—			848			113			83			18
Total operating revenues		178,520			171,063			171,242			165,927			162,955			155,007			149,134
Operating Expenses:
Rental property operating and maintenance		53,585			46,637			47,579			45,397			45,084			42,301			42,573
Property taxes		10,920			10,381			10,829			7,995			9,278			9,149			9,211
Insurance		1,642			1,612			1,531			1,577			1,479			1,488			1,456
Depreciation and amortization		54,312			52,760			52,419			51,268			50,437			49,183			46,304
General and administrative(2)		11,878			12,574			10,519			10,009			10,351			9,958			9,672
Transactions		—			—			—			—			—			—			—
Other		59			165			2			94			404			—			285
Total operating expenses		132,396			124,129			122,879			116,340			117,033			112,079			109,501
Operating income		46,124			46,934			48,363			49,587			45,922			42,928			39,633
Other Income (Expenses):
Equity in earnings of unconsolidated joint venture		1,061			955			1,978			(776	)		1,091			741			1,116
Interest and other income		327			34			31			16			90			403			243
Interest expense(3)		(36,178	)		(32,418	)		(30,033	)		(23,671	)		(22,504	)		(22,495	)		(18,937	)
Tax expense		(338	)		(527	)		(628	)		23			(333	)		(292	)		(436	)
Loss from early extinguishment of debt		(1,083	)		(1,541	)		—			—			—			—			—
Net income	$	9,913		$	13,437		$	19,711		$	25,179		$	24,266		$	21,285		$	21,619
New properties(1)
Operating Revenues:
Rental	$	45,182		$	21,758		$	16,612		$	3,467		$	264		$	—		$	—
Tenant reimbursements		13,784			4,643			3,925			380			8			—			—
Other		—			—			—			—			—			—			—
Total operating revenues		58,966			26,401			20,537			3,847			272			—			—
Operating Expenses:
Rental property operating and maintenance		20,571			7,769			5,663			689			194			—			—
Property taxes		3,110			2,367			1,892			354			17			—			—
Insurance		526			234			204			95			16			—			—
Depreciation and amortization		15,816			7,100			5,113			858			2			—			—
General and administrative(2)		—			—			—			—			—			—			—
Transactions		4,666			1,715			833			1,354			309			82			430
Other		—			—			—			—			—			—			—
Total operating expenses		44,689			19,185			13,705			3,350			538			82			430
Operating income		14,277			7,216			6,832			497			(266	)		(82	)		(430	)
Other Income (Expenses):
Equity in earnings of unconsolidated joint venture		—			—			—			—			—			—			—
Interest and other income		—			—			—			1			—			—			—
Interest expense(3)		(559	)		(744	)		(869	)		(780	)		(55	)		—			—
Income tax expense		(5	)		(7	)		(88	)		—			—			—			—
Loss from early extinguishment of debt		—			—			—			—			—			—			—
Net Income	$	13,713		$	6,465		$	5,875		$	(282	)	$	(321	)	$	(82	)	$	(430	)

(1) Same store properties are properties that were acquired on or before December 31, 2008 and new properties are properties acquired after December 31, 2008.

(2) General and administrative expenses are included entirely in same store as they are not allocable to specific properties.

(3) Interest expense on our revolving credit facility is allocated entirely to same store properties.

Page 13

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Same Store Operating Trend Summary

(unaudited and in thousands)

	Three Months Ended
Same store(1)	30-Sep-10			30-Jun-10			Percentage Change			30-Sep-09			Percentage Change
Rental(2)	$	139,329		$	136,109			2.4	%	$	130,627			6.7	%
Tenant reimbursements		39,191			34,954			12.1	%		32,215			21.7	%
		178,520			171,063			4.4	%		162,842			9.6	%
Rental property operating and maintenance		53,585			46,637			14.9	%		45,084			18.9	%
Property taxes		10,920			10,381			5.2	%		9,278			17.7	%
Insurance		1,642			1,612			1.9	%		1,479			11.0	%
		66,147			58,630			12.8	%		55,841			18.5	%
Net Operating Income(3)	$	112,373		$	112,433			(0.1	)%	$	107,001			5.0	%
Same store occupancy at end of quarter(4)		94.7	%		95.0	%					95.2	%

(1) Same store properties were acquired on or before December 31, 2008.

(2) For the periods presented, same store straight-line rent was $7,886, $8,164, and $11,102, respectively, and non-cash purchase accounting adjustments were $1,750, $1,715, and $1,926, respectively.

(3) For a definition and discussion of Net Operating Income, see page 32.

(4) Occupancy excludes space held for redevelopment. For some of our properties, we calculate occupancy based on factors in addition to contractually leased square feet, including available power, required support space and common area.

Page 14

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Consolidated Debt Analysis

(unaudited, in thousands)

	Maturity Date			Principal Balance as of September 30, 2010			% of Debt			Interest Rate as of September 30, 2010			Interest Rate as of September 30, 2010 including caps  and swaps
Revolving Credit Facility
Revolving credit facility		August 31,  2012	(1)		220,565			8.1	%		1.39	%		0.00	%
				$	220,565			8.1	%
Unsecured senior notes:
Prudential Shelf Facility:
Series A		July 24, 2011			25,000			0.9	%		7.00	%
Series B		November 5, 2013			33,000			1.2	%		9.32	%
Series C		January 6, 2016			25,000			0.9	%		9.68	%
Series D		January 20, 2015			50,000			1.9	%		4.57	%
Series E		January 20, 2017			50,000			1.9	%		5.73	%
Series F		February 3, 2015			17,000			0.6	%		4.50	%
Total Prudential Shelf Facility				$	200,000			7.4	%
Senior Notes:
5.875% notes due 2020		February 1, 2020			500,000			18.4	%		5.88	%
4.50% notes due 2015		July 15, 2015			375,000			13.8	%		4.50	%
Unamortized discounts					(9,183	)		-0.3	%
Total senior notes				$	865,817			31.9	%
Total unsecured senior notes				$	1,065,817			39.3	%
Exchangeable senior debentures:
4.125% exchangeable senior debentures due 2026		August 15, 2026			110,043			4.0	%		6.75	%
5.50% exchangeable senior debentures due 2029		April 15, 2029			266,400			9.8	%		5.50	%
Unamortized discount					(2,389	)		-0.1	%
Total exchangeable senior debentures				$	374,054			13.7	%
Mortgage loans:
Secured Term Debt		November 11, 2014			142,123			5.2	%		5.65	%		—
3 Corporate Place		August 1, 2013	(1)		80,000			2.9	%		6.72	%		—
200 Paul Avenue 1-4		October 8, 2015			76,597			2.8	%		5.74	%		—
2045 & 2055 LaFayette Street		February 6, 2017			66,652			2.4	%		5.93	%		—
Mundells Roundabout		November 30, 2013			67,304			2.5	%		1.93	%		4.18	%
600 West Seventh Street		March 15, 2016			54,506			2.0	%		5.80	%		—
34551 Ardenwood Boulevard 1-4		November 11, 2016			54,471			2.0	%		5.95	%		—
1100 Space Park Drive		December 11, 2016			54,464			2.0	%		5.89	%		—
1350 Duane Avenue/3080 Raymond Street		October 1, 2012			52,800			1.9	%		5.42	%		—
150 South First Street		February 6, 2017			52,311			1.9	%		6.30	%		—
114 Rue Ambroise Croizat		January 18, 2012			42,372			1.6	%		2.24	%		5.13	%
Clonshaugh Industrial Estate II		September 4, 2014			40,902			1.5	%		5.39	%		7.20	%
1500 Space Park Drive		October 5, 2013			40,440			1.5	%		6.15	%		—
2334 Lundy Place		November 11, 2016			39,616			1.5	%		5.96	%		—
Unit 9, Blanchardstown Corporate Park		January 18, 2012			36,430			1.3	%		2.24	%		5.35	%
Cressex 1		October 16, 2014			28,697			1.1	%		5.68	%		—
6 Braham Street		April 10, 2011			19,802			0.7	%		1.63	%		5.84	%
1201 Comstock Street		June 24, 2013	(1)		17,171			0.6	%		3.76	%		3.76	%
Datacenter Park — Dallas		September 15,  2012	(1)		16,150			0.6	%		5.00	%		—
Paul van Vlissingenstraat 16		July 18, 2013			14,297			0.5	%		2.49	%		5.58	%
Chemin de l’Epinglier 2		July 18, 2013			10,343			0.4	%		2.39	%		5.57	%
800 Central Expressway		June 9, 2013			10,000			0.4	%		5.75	%		—
Gyroscoopweg 2E-2F		October 18, 2013			9,103			0.3	%		2.39	%		5.49	%
1125 Energy Park Drive		March 1, 2032			9,097			0.3	%		7.62	%		—
Manchester Technopark		October 16, 2014			8,730			0.3	%		5.68	%		—
731 East Trade Street		July 1, 2020			5,145			0.2	%		8.22	%		—
Unamortized net premiums					1,140			0.1	%
				$	1,050,663			38.5	%
Other secured loans:
800 Central Expressway Mezzanine		June 9, 2013			10,500			0.4	%		9.50	%
Total other secured loans:				$	10,500			0.4	%
Total Consolidated Debt				$	2,721,599			100.00	%
Weighted average cost of debt (including interest rate caps and swaps)														5.35	%

(1) Assumes all extensions will be exercised.

Credit Facility

(in thousands)

	Maximum Available as of September 30, 2010		Available as of September 30, 2010 (1)		Drawn as of September 30, 2010
Revolving Credit Facility	$	750,000	$	512,500	$	220,565

(1) Net of letters of credit issued.

Page 15

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

REVOLVING CREDIT FACILITY COMMITMENTS

(Dollar amounts in thousands)

	Lender / Issuing Bank	Amount Committed
1	Bank of America, N.A. / Merrill Lynch Capital Corporation	$	130,000
2	Citicorp North America, Inc.		85,000
3	Morgan Stanley Bank, National Association		75,000
4	Credit Suisse, Cayman Islands Branch		75,000	(1)
5	The Royal Bank of Scotland PLC		70,000
6	Deutsche Bank		70,000
7	Raymond James Bank, FSB		50,000
8	Royal Bank of Canada, New York Branch		40,000	(1)
9	KeyBank, N.A.		40,000	(1)
10	JPMorgan Chase		25,000
11	UBS Loan Finance LLC		25,000
12	Allied Irish Banks, p.l.c.		15,000
13	Chang Hwa Commercial Bank, Ltd., New York Branch		15,000
14	Mega International Commercial Bank Co., Ltd Los Angeles Branch		15,000
15	Comerica Bank		10,000
16	First Commercial Bank New York Agency		10,000
	Total Commitments - Revolving Credit Facility	$	750,000

(1) As of October 29, 2010, Credit Suisse, Cayman Islands Branch increased its commitment to $90,000, Royal Bank of Canada, New York Branch increased its commitment to $65,000 and Key Bank, N.A. ceased to be a Revolving Credit Facility syndicate member.

Note: The revolving credit facility has a $515.0 million sub-facility for multi-currency advances.

Page 16

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Debt Maturities

(unaudited, in thousands)

		Remainder of
Property		2010		2011		2012		2013		2014		Thereafter		Total
Revolving Credit Facility	(1)	$	—	$	—	$	220,565	$	—	$	—	$	—	$	220,565
Secured Term Debt	(2)		657		2,700		2,836		3,024		132,906		—		142,123
Unsecured senior notes			—		25,000		—		33,000		—		142,000		200,000
3 Corporate Place	(1)		—		—		—		80,000		—		—		80,000
200 Paul Avenue 1-4			418		1,721		1,812		1,932		2,048		68,666		76,597
2045 & 2055 LaFayette Street			216		885		940		999		1,062		62,550		66,652
Mundells Roundabout			—		—		—		67,304		—		—		67,304
600 West Seventh Street			349		1,448		1,535		1,626		1,723		47,825		54,506
34551 Ardenwood Boulevard 1-4			166		678		711		765		812		51,339		54,471
1100 Space Park Drive			168		687		720		774		821		51,294		54,464
1350 Duane Avenue/3080 Raymond Street			—		—		52,800		—		—		—		52,800
150 South First Street			157		646		679		732		781		49,316		52,311
114 Rue Ambroise Croizat			168		671		41,533		—		—		—		42,372
Clonshaugh Industrial Estate II			—		—		—		—		40,902		—		40,902
1500 Space Park Drive			499		2,067		2,192		35,682		—		—		40,440
2334 Lundy Place			120		493		517		556		590		37,340		39,616
Unit 9, Blanchardstown Corporate Park			144		577		35,709		—		—		—		36,430
Cressex 1			—		482		482		482		27,251		—		28,697
6 Braham Street			157		19,645		—		—		—		—		19,802
1201 Comstock Street	(1)		195		813		867		15,296		—		—		17,171
Datacenter Park – Dallas	(1)		—		500		15,650		—		—		—		16,150
Paul van Vlissingenstraat 16			57		229		229		13,782		—		—		14,297
800 Central Expressway Mezzanine			—		—		—		10,500		—		—		10,500
Chemin de l’Epinglier 2			41		165		165		9,972		—		—		10,343
800 Central Expressway Mortgage			—		—		—		10,000		—		—		10,000
Gyroscoopweg 2E-2F			36		146		146		8,775		—		—		9,103
1125 Energy Park Drive			37		154		165		180		194		8,367		9,097
Manchester Technopark			—		147		147		147		8,289		—		8,730
731 East Trade Street			65		274		297		323		350		3,836		5,145
5.875% notes due 2020			—		—		—		—		—		500,000		500,000
4.50% notes due 2015			—		—		—		—		—		375,000		375,000
5.50% exchangeable senior debentures due 2029	(3)		—		—		—		—		266,400		—		266,400
4.125% exchangeable senior debentures due 2026	(4)		—		110,043		—		—		—		—		110,043
Total		$	3,650	$	170,171	$	380,697	$	295,851	$	484,129	$	1,397,533	$	2,732,031
Weighted Average Term to Initial Maturity	(3)(4)				4.7 Years
Weighted Average Term to Initial Maturity (assuming exercise of extension options)	(3)(4)				4.9 Years

(1) Assumes all extensions will be exercised.

(2) This amount represents six mortgage loans secured by our interests in 36 NE 2nd Street, 3300 East Birch Street, 100 & 200 Quannapowitt Parkway, 300 Boulevard East, 4849 Alpha Road, and 11830 Webb Chapel Road. Each of these loans is cross-collateralized by the six properties.

(3) Assumes maturity of 5.50% exchangeable senior debentures due 2029 at first redemption date in April 2014.

(4) Assumes maturity of 4.125% exchangeable senior debentures due 2026 at first redemption date in August 2011.

Note:Total excludes $1,140 of loan premiums, net and ($8,094) and ($1,089) of debt discount on 5.875% unsecured senior notes due 2020 and 4.50% unsecured senior notes due 2015, respectively, and ($2,389) on 4.125% exchangeable senior debentures due 2026.

Page 17

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Debt Analysis & Covenant Compliance

(unaudited)

Debt Covenant Ratios(1):	As of September 30, 2010
	5.875% Notes due 2020 & 4.50% Notes due 2015				Revolving Credit Facility(2)
	Required	Actual			Required	Actual
Total Outstanding Debt / Total Assets(3)	Less than 60%		43	%	Less than 65%(4)		43	%
Secured Debt / Total Assets(5)	Less than 40%		16	%	Less than 60%		17	%
Total Unencumbered Assets / Unsecured Debt	Greater than 150%		275	%			N/A
Consolidated EBITDA / Interest Expense(6)	Greater than 1.50x		3.2 x				N/A
Fixed Charge Coverage			N/A		Greater than 1.40x		2.4 x
Unsecured Debt / Total Unencumbered Asset Value(7)			N/A		Less than 70%		42	%
Unencumbered Assets Debt Service Coverage Ratio			N/A		Greater than 1.50x		3.8 x

(1) For a definition of the capitalized terms used in the table above and related footnotes, please refer to the Indenture dated January 28, 2010, which governs the 5.875% Notes due 2020, the Indenture dated July 8, 2010, which governs the 4.50% Notes due 2015 and the Revolving Credit Facility Agreement, as amended, which are filed as exhibits to our reports filed with the Securities and Exchange Commission

(2) Under the Revolving Credit Agreement, no rent leveling adjustments are included in the calculation of Adjusted EBITDA or Adjusted Net Operating Income.

(3) This ratio is referred to as the Leverage Ratio, defined as Consolidated Debt / Total Asset Value, under the Revolving Credit Facility. Under the Revolving Credit Facility, Total Asset Value is calculated using Adjusted Net Operating Income is capped at 8.25% for Data Center Assets and 7.25% for all other Assets. Under the 5.875% Notes due 2020 and the 4.50% Notes due 2015, Total Assets is calculated using Consolidated EBITDA capped at 9.0%.

(4) A one-time right exists to maintain Consolidated Debt to Total Asset Value greater than 65.0% but less than 70.0% for up to two consecutive fiscal quarters.

(5) This ratio is referred to as the Secured Debt Leverage Ratio, defined as Consolidated Secured Debt / Total Asset Value, under the Revolving Credit Facility.

(6) Calculated as current quarter annualized Consolidated EBITDA to current quarter annualized Interest Expense (including capitalized interest and debt discounts).

(7) Assets must satisfy certain conditions to qualify for inclusion in the Unencumbered Asset pool under the Revolving Credit Facility.

Page 18

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Portfolio Summary

As of September 30, 2010

	9/30/2010			6/30/2010
Number of Properties:
Domestic		80			72
International		15			15
		95	(1)		87	(1)
Number of Buildings:
Domestic		112			103
International		19			19
		131			122
Number of Markets:
Domestic		20			20
International		7			7
		27			27
Net Rentable Square Feet:
Domestic		13,205,924			12,050,701
International		1,250,203			1,219,334
		14,456,127			13,270,035
Redevelopment Square Feet:
Domestic		1,715,680			1,675,704
International		209,455			240,324
		1,925,135			1,916,028
Portfolio Occupancy(2)		95.0	%		95.0	%
Same Store Pool Occupancy(2)		94.7	%		95.0	%
Average Original Lease Term (years)		13.7			14.0
Average Remaining Lease Term (years)		6.9			7.2
Lease Expirations (through 2011)		10.3	%		10.4	%

(1) Excludes two properties held as investments in unconsolidated joint ventures as of September 30, 2010 and excludes one property held as an investment in an unconsolidated joint venture as of June 30, 2010 and developable land.

(2) Occupancy excludes space held for redevelopment. For some of our properties, we calculate occupancy based on factors in addition to contractually leased square feet, including available power, required support space and common area.

Page 19

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Properties Acquired

For the three months ended September 30, 2010

Property	Metropolitan Area		Date Acquired		Purchase Price (in millions)			Net Rentable Square Footage of Property		Total Square Footage Held for Redevelopment		Percentage of Total Rentable Square Footage of Property Occupied(1)
365 Main Portfolio		Various(2)		Jul-10	$	725.0			919,323		42,374		95.2	%
800 Central Expressway		Silicon Valley		Aug-10		25.3	(3)		150,000		150,000		0.0	%
2950 Zanker Road		Silicon Valley		Aug-10		32.6			69,700		—		100.0	%
900 Dorothy Drive		Dallas		Aug-10		17.7			56,176		—		100.0	%
					$	800.6			1,195,199		192,374		95.8	%

(1) Occupancy percentages are calculated net of square footage held for redevelopment.

(2) The 365 Main Portfolio consists of 365 Main Street, San Francisco, California and 720 2nd Street, Oakland, California, both located in the San Francisco metropolitan area; 2260 East El Segundo Boulevard, El Segundo, California, located in the Los Angeles metropolitan area; 2121 South Price Road, Chandler, Arizona, located in the Phoenix metropolitan area; and 4030-4050 Lafayette Center Drive, Chantilly, Virginia, located in the Northern Virginia metropolitan area. The 365 Main Portfolio is considered five properties for our property count.

(3) Represents the initial contribution and assumption of 50% of secured debt on this property, resulting in a 50% ownership in a joint venture that owns this property under redevelopment. Since we control the joint venture, we have consolidated the joint venture in the accompanying financial statements.

Page 20

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Occupancy Analysis

As of September 30, 2010

(Dollar amounts in thousands)

													Occupancy (2)															Net Rentable Square Feet as a % of						Annualized Rent as a % of
Property			Acquisition date		Metropolitan Area		Net Rentable Square Feet		Redevelopment Space Square Feet		Annualized Rent ($000) (1)		As of 9/30/10			As of 6/30/10			As of 3/31/10			As of 12/31/09			As of 09/30/09			Property Type			Total Portfolio			Property Type			Total Portfolio
Internet Gateway Datacenters
350 East Cermak Road				May-05		Chicago		1,129,226		4,513		61,770		96.3	%		94.3	%		94.1	%		92.3	%		95.9	%		28.3	%		7.8	%		29.7	%		9.0	%
200 Paul Avenue 1-4				Nov-04		San Francisco		458,708		68,972		25,728		96.3	%		99.7	%		99.7	%		99.9	%		99.9	%		11.5			3.2			12.4			3.7
120 E. Van Buren Street				Jul-06		Phoenix		254,497		33,017		21,437		97.5	%		97.5	%		97.5	%		97.7	%		94.0	%		6.4			1.8			10.3			3.1
111 Eighth Avenue	(3	)		Mar-07		New York / New Jersey		116,843		—		18,494		100.0	%		95.6	%		95.6	%		100.0	%		100.0	%		2.9			0.8			8.9			2.7
600 West Seventh Street				May-04		Los Angeles		482,089		7,633		17,674		95.8	%		94.7	%		95.2	%		95.3	%		94.4	%		12.1			3.3			8.5			2.6
114 Rue Ambroise Croizat				Dec-06		Paris, France		332,300		19,846		17,260		91.9	%		90.5	%		90.5	%		90.1	%		95.7	%		8.3			2.3			8.3			2.5
2323 Bryan Street				Jan-02		Dallas		457,217		19,890		14,567		74.5	%		75.1	%		75.1	%		76.7	%		78.3	%		11.5			3.2			7.0			2.1
1100 Space Park Drive				Nov-04		Silicon Valley		165,297		—		7,890		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		4.1			1.1			3.8			1.1
600-780 S. Federal				Sep-05		Chicago		161,547		—		6,067		65.8	%		68.7	%		66.3	%		69.4	%		69.4	%		4.1			1.1			2.9			0.9
36 NE 2nd Street				Jan-02		Miami		162,140		—		5,333		95.9	%		95.9	%		95.9	%		95.9	%		95.9	%		4.1			1.1			2.6			0.8
6 Braham Street				Jul-02		London, England		63,233		—		4,479		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		1.6			0.4			2.2			0.7
900 Walnut Street				Aug-07		St Louis		112,266		—		3,722		90.6	%		97.3	%		97.3	%		97.3	%		92.9	%		2.8			0.8			1.8			0.5
125 North Myers				Aug-05		Charlotte		25,402		—		1,282		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.6			0.2			0.6			0.2
731 East Trade Street				Aug-05		Charlotte		40,879		—		1,236		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		1.0			0.3			0.6			0.2
113 North Myers				Aug-05		Charlotte		29,218		—		780		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.7			0.2			0.4			0.1
								3,990,862		153,871		207,719		92.5	%		92.2	%		92.1	%		92.1	%		93.2	%		100.0	%		27.6	%		100.0	%		30.2	%
Corporate Datacenters
2121 South Price Road				Jul-10		Phoenix		293,479		—		31,194		97.3	%		N/A			N/A			N/A			N/A			3.2	%		2.0	%		6.9	%		4.5	%
365 Main Street				Jul-10		San Francisco		226,981		—		26,916		86.1	%		N/A			N/A			N/A			N/A			2.4			1.6			5.9	%		3.9
128 First Avenue CDO				Jan-10		Boston		274,750		—		20,424		99.6	%		95.7	%		95.7	%		N/A			N/A			3.0			1.9			4.5	%		3.0
720 Second Street				Jul-10		San Francisco		121,220		—		18,403		97.5	%		N/A			N/A			N/A			N/A			1.3			0.8			4.1			2.7
43881 Devon Shafron Drive				Mar-07		Northern Virginia		180,000		—		17,978		98.5	%		98.5	%		98.5	%		98.5	%		98.5	%		1.9			1.3			4.0	%		2.6
3 Corporate Place				Dec-05		New York / New Jersey		276,931		—		15,932		96.1	%		96.1	%		95.9	%		95.9	%		95.6	%		3.0			1.9			3.5			2.3
300 Boulevard East				Nov-02		New York / New Jersey		311,950		—		14,730		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		3.4			2.2			3.3			2.1
2440 Marsh Lane				Jan-03		Dallas		135,250		—		14,218		100.0	%		100.0	%		100.0	%		80.7	%		77.6	%		1.5			0.9			3.1			2.1
60 & 80 Merritt Boulevard				Jan-10		New York / New Jersey		169,540		—		12,073		100.0	%		100.0	%		100.0	%		N/A			N/A			1.8			1.2			2.7			1.8
833 Chestnut Street				Mar-05		Philadelphia		588,770		65,988		11,469		85.7	%		85.7	%		86.0	%		86.4	%		86.4	%		6.3			4.1			2.5			1.7
43915 Devin Shafron Drive				May-09		Northern Virginia		123,051		9,229		11,118		75.6	%		49.6	%		100.0	%		N/A			N/A			1.3			0.9			2.5			1.6
2260 East El Segundo Boulevard				Jul-10		Los Angeles		132,240		—		10,774		100.0	%		N/A			N/A			N/A			N/A			1.4			0.9			2.4			1.6
43791 Devon Shafron Drive				Mar-07		Northern Virginia		132,806		2,194		10,045		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		1.4			0.9			2.2			1.5
55 Middlesex Turnpike				Jan-10		Boston		106,000		—		10,031		87.9	%		87.9	%		87.9	%		N/A			N/A			1.1			0.7			2.2			1.5
1350 Duane & 3080 Raymond				Oct-09		Silicon Valley		185,000		—		9,693		100.0	%		100.0	%		100.0	%		100.0	%		NA			2.0			1.3			2.1			1.4
3011 Lafayette Street				Jan-07		Silicon Valley		90,780		—		9,658		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		1.0			0.6			2.1			1.4
Unit 9, Blanchardstown Corporate Park				Dec-06		Dublin, Ireland		111,691		8,309		9,036		99.0	%		99.1	%		98.8	%		86.2	%		86.2	%		1.2			0.8			2.0			1.3
Clonshaugh Industrial Estate II				Feb-06		Dublin, Ireland		124,500		—		8,855		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		1.3			0.9			2.0			1.3
365 S. Randolphville Road				Feb-08		New York / New Jersey		77,085		187,707		8,833		74.5	%		62.1	%		34.6	%		50.6	%		100.0	%		0.8			0.5			2.0			1.3
1500 Space Park Drive				Sep-07		Silicon Valley		51,615		—		8,790		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.6			0.4			1.9			1.3
1525 Comstock Street				Sep-09		Silicon Valley		42,385		—		8,682		100.0	%		100.0	%		100.0	%		100.0	%		99.2	%		0.5			0.3			1.9			1.3
4025 Midway Road				Jan-06		Dallas		90,058		10,532		8,497		100.0	%		99.8	%		99.8	%		99.8	%		99.8	%		1.0			0.6			1.9			1.2
2055 East Technology Circle				Oct-06		Phoenix		76,350		—		7,785		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.8			0.5			1.7			1.1
Mundells Roundabout				Apr-07		London, England		113,464		—		7,334		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		1.2			0.8			1.6			1.1
375 Riverside Parkway				Jun-03		Atlanta		248,268		1,923		7,146		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		2.7			1.7			1.6			1.0
Cressex 1				Dec-07		London, England		50,847		—		6,720		100.0	%		100.0	%		100.0	%		90.6	%		90.6	%		0.6			0.4			1.5			1.0
2045 & 2055 LaFayette Street				May-04		Silicon Valley		300,000		—		6,660		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		3.2			2.1			1.5			1.0
150 South First Street				Sep-04		Silicon Valley		179,761		—		6,644		98.3	%		98.3	%		100.0	%		100.0	%		99.5	%		1.9			1.2			1.5			1.0
11830 Webb Chapel Road				Aug-04		Dallas		365,647		—		6,228		96.6	%		96.6	%		96.6	%		96.6	%		95.0	%		3.9			2.5			1.4			0.9
3 St. Anne’s Boulevard				Dec-07		London, England		36,668		59,716		6,129		79.5	%		100.0	%		100.0	%		100.0	%		0.0	%		0.4			0.3			1.4			0.9
4030 Lafayette Center Drive				Jul-10		Northern Virginia		72,696		—		5,745		100.0	%		N/A			N/A			N/A			N/A			0.8			0.5			1.3			0.8
14901 FAA Boulevard				Jun-06		Dallas		263,700		—		4,817		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		2.8			1.8			1.1			0.7
2334 Lundy Place				Dec-02		Silicon Valley		130,752		—		4,784		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		1.4			0.9			1.1			0.7
45901 & 45845 Nokes Blvd				Dec-09		Northern Virginia		167,160		—		4,347		100.0	%		100.0	%		100.0	%		100.0	%		NA			1.8			1.2			1.0			0.6
1201 Comstock Street				Jun-08		Silicon Valley		24,000		—		4,323		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.3			0.2			1.0			0.6
1232 Alma Road				Sep-09		Dallas		71,579		34,147		4,115		100.0	%		77.3	%		100.0	%		0.0	%		0.0	%		0.8			0.5			0.9			0.6

Page 21

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Occupancy Analysis

As of September 30, 2010

(Dollar amounts in thousands)

										Occupancy (2)															Net Rentable Square Feet as a % of							Annualized Rent as a % of
Property	Acquisition date		Metropolitan Area	Net Rentable Square Feet		Redevelopment Space Square Feet		Annualized Rent ($000) (1)		As of 9/30/10			As of 6/30/10			As of 3/31/10			As of 12/31/09			As of 09/30/09			Property Type				Total Portfolio			Property Type			Total Portfolio
44470 Chilum Place		Feb-07	Northern Virginia		95,440		—		4,103		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		1.0	%			0.7	%		0.9	%		0.6	%
12001 North Freeway		Apr-06	Houston		280,483		20,222		4,019		75.4	%		75.4	%		75.4	%		75.4	%		75.4	%		3.0				1.9			0.9			0.6
115 Second Avenue		Oct-05	Boston		66,730		—		3,540		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.7				0.5			0.8			0.5
2401 Walsh Street		Jun-05	Silicon Valley		167,932		—		3,509		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		1.8				1.2			0.8			0.5
8534 Concord Center Drive		Jun-05	Denver		85,660		—		3,463		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.9				0.6			0.8			0.5
4849 Alpha Road		Apr-04	Dallas		84,552		40,986		2,860		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.9				0.6			0.6			0.4
2950 Zanker Road		Aug-10	Silicon Valley		69,700		—		2,800		100.0	%		N/A			N/A			N/A			N/A			0.8				0.5			0.6			0.4
21110 Ridgetop Circle		Jan-07	Northern Virginia		135,513		—		2,739		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		1.5				0.9			0.6			0.4
21561 & 21571 Beaumeade Cir		Dec-09	Northern Virginia		164,453		—		2,682		100.0	%		100.0	%		100.0	%		100.0	%		NA			1.8				1.1			0.6			0.4
Naritaweg 52		Dec-07	Amsterdam, Netherlands		63,260		—		2,613		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.7				0.4			0.6			0.4
1807 Michael Faraday Court		Oct-06	Northern Virginia		19,237		—		2,613		100.0	%		100.0	%		100.0	%		97.1	%		97.1	%		0.2				0.1			0.6			0.4
210 N Tucker Boulevard		Aug-07	St Louis		153,588		48,000		2,448		82.0	%		79.4	%		78.4	%		78.4	%		78.4	%		1.7				1.1			0.5			0.4
200 North Nash Street		Jun-05	Los Angeles		113,606		—		2,374		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		1.2				0.8			0.5			0.4
Paul van Vlissingenstraat 16		Aug-05	Amsterdam, Netherlands		77,472		35,000		2,213		58.8	%		58.8	%		58.8	%		58.8	%		58.8	%		0.8				0.5			0.5			0.3
2403 Walsh Street		Jun-05	Silicon Valley		103,940		—		2,172		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		1.1				0.7			0.5			0.3
Manchester Technopark, Plot C1		Jun-08	Manchester, England		38,016		—		1,995		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.4				0.2			0.4			0.3
4700 Old Ironsides Drive		Jun-05	Silicon Valley		90,139		—		1,884		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		1.0				0.6			0.4			0.3
444 Toyama Drive		Sep-09	Silicon Valley		42,083		—		1,777		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.5				0.3			0.4			0.3
4650 Old Ironsides Drive		Jun-05	Silicon Valley		84,383		—		1,763		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.9				0.6			0.4			0.3
7505 Mason King Court		Nov-08	Northern Virginia		109,650		—		1,735		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		1.2				0.7			0.4			0.3
3015 Winona Avenue		Dec-04	Los Angeles		82,911		—		1,640		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.9				0.6			0.4			0.2
Chemin de l’Epinglier 2		Nov-05	Geneva, Switzerland		59,190		—		1,628		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.6				0.4			0.4			0.2
6800 Millcreek Drive		Apr-06	Toronto, Canada		83,758		—		1,576		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.9				0.6			0.4			0.2
251 Exchange Place		Nov-05	Northern Virginia		70,982		—		1,547		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.8				0.5			0.3			0.2
900 Dorothy Drive		Aug-10	Dallas		56,176		—		1,475		100.0	%		N/A			N/A			N/A			N/A			0.6				0.4			0.3			0.2
Clonshaugh Industrial Estate		Feb-06	Dublin, Ireland		20,000		—		1,472		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.2				0.1			0.3			0.2
43831 Devon Shafron Drive		Mar-07	Northern Virginia		117,071		—		1,472		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		1.3				0.8			0.3			0.2
3300 East Birch Street		Aug-03	Los Angeles		68,807		—		1,458		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.7				0.5			0.3			0.2
1125 Energy Park Drive		Mar-05	Minneapolis/St. Paul		112,827		—		1,437		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		1.2				0.8			0.3			0.2
101 Aquila Way		Apr-06	Atlanta		313,581		—		1,411		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		3.4				2.2			0.3			0.2
Gyroscoopweg 2E-2F		Jul-06	Amsterdam, Netherlands		55,585		—		1,199		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.6				0.4			0.3			0.2
8100 Boone Boulevard		Oct-06	Northern Virginia		17,015		—		929		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.2				0.1			0.2			0.1
600 Winter Street		Sep-06	Boston		30,400		—		810		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.3		��		0.2			0.2			0.1
2300 NW 89th Place		Sep-06	Miami		64,174		—		635		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.7				0.4			0.1			0.1
7620 Metro Center Drive		Dec-05	Austin		45,000		—		605		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.5				0.3			0.1			0.1
4040 Lafayette Center Drive		Jul-10	Northern Virginia		30,333		—		376		100.0	%		N/A			N/A			N/A			N/A			0.3				0.2			0.1			0.1
3065 Gold Camp Drive		Oct-04	Sacramento		62,957		—		272		21.1	%		100.0	%		100.0	%		100.0	%		100.0	%		0.7				0.4			0.1			0.0
1 St. Anne’s Boulevard		Dec-07	London, England		20,219		—		260		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		0.2				0.1			0.1			0.0
1301 International Parkway		Sep-09	Dallas		—		20,500		—		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		—				—			—			—
1400 N Bowser Way		Sep-09	Dallas		—		246,940		—		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		—				—			—			—
1725 Comstock Street		Apr-10	Silicon Valley		—		39,643		—		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		—				—			—			—
3105 & 3115 Alfred Street		May-10	Silicon Valley		—		49,858		—		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		—				—			—			—
4050 Lafayette Center Drive		Jul-10	Northern Virginia		—		42,374		—		0.0	%		N/A			N/A			N/A			N/A			—				—			—			—
650 Randolph Road		Jun-08	New York / New Jersey		—		127,790		—		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		—				—			—			—
7500 Metro Center Drive		Dec-05	Austin		—		74,962		—		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		—				—			—			—
800 Central Expressway		Aug-10	Silicon Valley		—		150,000		—		0.0	%		N/A			N/A			N/A			N/A			—				—			—			—
900 Quality Way		Sep-09	Dallas		—		112,253		—		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		—				—			—			—
904 Quality Way		Sep-09	Dallas		—		46,750		—		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		—				—			—			—
905 Quality Way		Sep-09	Dallas		—		249,657		—		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		—				—			—			—
Cateringweg 5		Jun-10	Amsterdam, Netherlands		—		55,972		—		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		—				—			—			—
					9,303,797		1,740,652		453,630		95.6	%		95.8	%		96.3	%		95.9	%		95.7	%		100.0	%			64.3	%		100.0	%		66.1
Technology Manufacturing
34551 Ardenwood Boulevard 1-4		Jan-03	Silicon Valley		307,657		—		9,035		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		50.9	%			2.1	%		57.2	%		1.3
47700 Kato Road & 1055 Page Avenue		Sep-03	Silicon Valley		183,050		—		3,908		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		30.3				1.3			24.7			0.6
2010 East Centennial Circle		May-03	Phoenix		113,405		—		2,852		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		18.8				0.8			18.1			0.4
2 St. Anne’s Boulevard		Dec-07	London, England		—		30,612		—		0.0	%		0.0	%		0.0	%		0.0	%		100.0	%		—				—			—			—

Page 22

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Occupancy Analysis

As of September 30, 2010

(Dollar amounts in thousands)

												Occupancy (2)															Net Rentable Square Feet as a % of						Annualized Rent as a % of
Property	Acquisition date		Metropolitan Area		Net Rentable Square Feet			Redevelopment Space Square Feet		Annualized Rent ($000) (1)		As of 9/30/10			As of 6/30/10			As of 3/31/10			As of 12/31/09			As of 09/30/09			Property Type			Total Portfolio			Property Type			Total Portfolio
						604,112			30,612		15,795		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		4.2	%		100.0	%		2.3	%
Technology Office
100 & 200 Quannapowitt Parkway		Jun-04		Boston		386,956			—		7,222		94.9	%		94.9	%		94.9	%		94.9	%		94.9	%		69.4	%		2.7	%		73.0	%		1.1	%
1 Savvis Parkway		Aug-07		St Louis		156,000			—		2,644		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%		28.0			1.1			26.7			0.4
908 Quality Way		Sep-09		Dallas		14,400			—		24		100.0	%		100.0	%		100.0	%		0.0	%		0.0	%		2.6			0.1			0.2			—
						557,356			—		9,890		96.4	%		96.4	%		96.4	%		97.0	%		97.0	%		100.0	%		3.9	%		100.0	%		1.4	%
Portfolio Total/Weighted Average						14,456,127	(4)		1,925,135	$	687,034		95.0	%		95.0	%		95.2	%		95.0	%		95.2	%		100.0	%		100.0	%		100.0	%		100.0

(1) Annualized rent represents the monthly contractual rent under existing leases as of September 30, 2010 multiplied by 12. We estimate the total net rentable square feet available for lease based on a number of factors in addition to contractually leased square feet, including available power, required support space and common area.

(2) Occupancy excludes space held for redevelopment. For some of our properties, we calculate occupancy based on factors in addition to contractually leased square feet, including available power, required support space and common area. Occupancy excludes space held for redevelopment. For some of our properties, we calculate occupancy based on factors in addition to contractually leased square feet, including available power, required support space and common area.

(3) Includes approximately 33,700 rentable square feet from a leasehold interest acquisition. Includes approximately 33,700 rentable square feet from a leasehold interest acquisition.

(4) Net rentable square feet excludes 400,369 rentable square feet of space in a joint venture located at 2001 Sixth Avenue in Seattle, WA, which was 96.40% occupied as of September 30, 2010. Net rentable square feet excludes 706,513 rentable square feet of space in a joint venture located at 2001 Sixth Avenue in Seattle, WA and 700/750 Central Expressway in Santa Clara, CA, which were 98.0% occupied as of September 30, 2010.

Page 23

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Major Tenants

As of September 30, 2010

(Dollar amounts in thousands)

	Tenant	Number of Locations		Total Occupied Square Feet (1)		Percentage of Net Rentable Square Feet			Annualized Rent (2)		Percentage of Annualized Rent			Weighted Average Remaining Lease Term in Months
1	Savvis Communications		19		2,000,638		13.8	%	$	54,794		8.0	%		104
2	Equinix Operating Company, Inc.		8		736,950		5.1	%	$	29,714		4.3	%		90
3	Facebook, Inc.		4		198,963		1.4	%	$	25,903		3.8	%		92
4	Morgan Stanley		5		155,481		1.1	%	$	22,961		3.3	%		46
5	Qwest Communications International, Inc.		17		637,801		4.4	%	$	21,082		3.1	%		72
6	TelX Group, Inc.		11		166,717		1.2	%	$	20,732		3.0	%		193
7	NTT Communications Company		5		307,887		2.1	%	$	18,521		2.7	%		56
8	AT & T		18		610,384		4.2	%	$	16,396		2.4	%		97
9	JPMorgan Chase & Co.		3		149,935		1.0	%	$	14,701		2.1	%		111
10	Level 3 Communications, LLC		25		327,090		2.3	%	$	11,990		1.7	%		99
11	Pfizer, Inc.		1		87,049		0.6	%	$	10,568		1.5	%		87
12	Yahoo! Inc.		2		110,847		0.8	%	$	10,056		1.5	%		85
13	TATA Communications (UK)		2		105,366		0.7	%	$	9,875		1.4	%		87
14	Microsoft Corporation		3		329,254		2.3	%	$	9,848		1.4	%		59
15	Sprint Communications Co., LP		6		173,319		1.2	%	$	9,148		1.3	%		48
16	BT Americas, Inc.		3		47,286		0.3	%	$	9,128		1.3	%		87
17	eircom Limited		1		124,500		0.9	%	$	8,854		1.3	%		106
18	T-Systems North America, Inc.		2		77,610		0.5	%	$	8,145		1.2	%		42
19	Internap		4		56,801		0.4	%	$	8,023		1.2	%		36
20	Carpathia Hosting		3		51,784		0.4	%	$	8,000		1.2	%		80
	Total/Weighted Average				6,455,662		44.7	%	$	328,439		47.7	%		90

(1) Occupied square footage is defined as leases that have commenced on or before September 30, 2010. For some of our properties, we calculate occupancy based on factors in addition to contractually leased square feet, including available power, required support space and common area.

(2) Annualized rent represents the monthly contractual rent under existing leases as of September 30, 2010 multiplied by 12. We estimate the total net rentable square feet available for lease based on a number of factors in addition to contractually leased square feet, including available power, required support space and common area.

Page 24

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Lease Expirations and Lease Distribution

Lease Expirations

As of September 30, 2010

(Dollar amounts in thousands)

Year	Number of Leases Expiring (1)		Square Footage of Expiring Leases (2)		Percentage of Net Rentable Square Feet (2)			Annualized Rent (3)		Percentage of Annualized Rent			Annualized Rent Per Occupied Square Foot		Annualized Rent Per Occupied Square Foot at Expiration		Annualized Rent at Expiration
Available				726,783		5.0	%		—		0.0	%
2010		120		92,613		0.6	%	$	13,331		1.9	%	$	143.94	$	144.02	$	13,338
2011		336		1,394,386		9.7	%		55,220		8.0	%		39.60		39.06		54,470
2012		198		257,643		1.8	%		27,354		4.0	%		106.17		110.82		28,551
2013		162		1,241,754		8.6	%		76,398		11.1	%		61.52		65.58		81,438
2014		150		1,291,606		8.9	%		83,404		12.2	%		64.57		68.64		88,657
2015		114		2,096,720		14.5	%		85,110		12.4	%		40.59		42.74		89,612
2016		78		1,100,276		7.6	%		45,235		6.6	%		41.11		47.75		52,536
2017		46		750,613		5.2	%		30,149		4.4	%		40.17		47.81		35,884
2018		71		805,241		5.6	%		40,705		5.9	%		50.55		64.73		52,127
2019		69		1,572,493		10.9	%		92,354		13.4	%		58.73		72.45		113,933
Thereafter		197		3,125,999		21.6	%		137,772		20.1	%		44.07		61.77		193,084
Portfolio Total/Weighted Average		1,541		14,456,217		100.0	%	$	687,032		100.0	%	$	50.04	$	58.53	$	803,630

Lease Distribution

As of September 30, 2010

(Dollar amounts in thousands)

Square Feet Under Lease	Number of Leases (1)		Percentage of All Leases			Total Net Rentable Square Feet (2)		Percentage of Net Rentable Square Feet (2)			Annualized Rent (3)		Percentage of Annualized Rent
Available							726,783		5.0	%		—		0.0	%
2,500 or less		1,026		66.6	%		537,415		3.7	%		64,933		9.5	%
2,501 - 10,000		254		16.5	%		1,490,101		10.3	%		123,788		18.0	%
10,001 - 20,000		105		6.8	%		1,808,009		12.5	%		123,848		18.0	%
20,001 - 40,000		74		4.8	%		2,173,702		15.0	%		136,882		19.9	%
40,001 - 100,000		53		3.4	%		3,459,421		23.9	%		130,137		18.9	%
Greater than 100,000		29		1.9	%		4,260,696		29.6	%		107,444		15.7	%
Portfolio Total		1,541		100.0	%		14,456,217		100.0	%	$	687,032		100.0	%

(1) Includes license and similar agreements that upon expiration will be automatically renewed, mostly on a month-to-month basis. Number of leases represents the leased-unit count; a lease could include multiple units.

(2) For some of our properties, we calculate square footage based on factors in addition to contractually leased square feet, including available power, required support space and common area.

(3) Annualized rent represents the monthly contractual rent under existing leases as of September 30, 2010 multiplied by 12. We estimate the total net rentable square feet available for lease based on a number of factors in addition to contractually leased square feet, including available power, required support space and common area.

Page 25

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Lease Expirations - By Property Type

As of September 30, 2010

(Dollar amounts in thousands)

CORPORATE DATACENTERS

Year	Number of Leases Expiring (1)		Square Footage of Expiring Leases (2)		Percentage of Net Rentable Square Feet (2)			Annualized Rent (3)		Percentage of Annualized Rent			Annualized Rent Per Occupied Square Foot		Annualized Rent Per Occupied Square Foot at Expiration		Annualized Rent at Expiration
Available				406,001		2.8	%		—		0.0	%
2010		76		34,070		0.2	%	$	5,185		0.7	%	$	152.19	$	152.36	$	5,191
2011		259		652,713		4.5	%		30,579		4.5	%		46.85		45.39		29,625
2012		129		133,327		0.9	%		13,754		2.0	%		103.16		107.72		14,362
2013		110		849,011		5.9	%		56,242		8.2	%		66.24		70.45		59,812
2014		75		860,686		6.0	%		59,005		8.6	%		68.56		76.30		65,673
2015		53		832,606		5.8	%		37,641		5.5	%		45.21		50.10		41,712
2016		46		799,431		5.5	%		31,229		4.5	%		39.06		45.39		36,284
2017		21		339,293		2.3	%		21,242		3.2	%		62.61		76.00		25,787
2018		51		605,282		4.2	%		29,216		4.3	%		48.27		63.86		38,656
2019		54		1,427,869		9.9	%		82,087		11.9	%		57.49		71.46		102,042
Thereafter		113		2,363,508		16.2	%		87,448		12.7	%		37.00		50.41		119,134
Portfolio Total /Weighted Average		987		9,303,797		64.2	%	$	453,628		66.1	%	$	50.98	$	60.50	$	538,278

INTERNET GATEWAY DATACENTERS

Year	Number of Leases Expiring (1)		Square Footage of Expiring Leases (2)		Percentage of Net Rentable Square Feet (2)			Annualized Rent (3)		Percentage of Annualized Rent			Annualized Rent Per Occupied Square Foot		Annualized Rent Per Occupied Square Foot at Expiration		Annualized Rent at Expiration
Available				300,859		2.0	%		—		0.0	%
2010		43		58,543		0.4	%	$	8,085		1.2	%	$	138.10	$	138.10	$	8,085
2011		71		159,590		1.1	%		13,074		1.9	%		81.92		82.46		13,159
2012		69		124,316		0.8	%		13,600		2.0	%		109.40		114.14		14,189
2013		46		246,472		1.7	%		17,795		2.6	%		72.20		77.60		19,126
2014		75		430,920		3.0	%		24,400		3.5	%		56.62		53.34		22,985
2015		57		1,132,728		7.7	%		41,295		6.0	%		36.46		36.78		41,658
2016		31		300,845		2.0	%		13,982		2.0	%		46.48		53.94		16,228
2017		23		141,915		1.0	%		3,410		0.5	%		24.03		27.21		3,862
2018		20		199,959		1.4	%		11,489		1.7	%		57.46		67.36		13,470
2019		15		144,624		1.0	%		10,265		1.5	%		70.98		82.22		11,891
Thereafter		79		750,091		5.1	%		50,322		7.3	%		67.09		98.59		73,951
Portfolio Total /Weighted Average		529		3,990,862		27.2	%	$	207,717		30.2	%	$	56.29	$	64.66	$	238,604

(1) Includes license and similar agreements that upon expiration will be automatically renewed, mostly on a month-to-month basis. Number of leases represents the leased-unit count; a lease could include multiple units.

(2) For some of our properties, we calculate square footage based on factors in addition to contractually leased square feet, including available power, required support space and common area.

(3) Annualized rent represents the monthly contractual rent under existing leases as of September 30, 2010 multiplied by 12. We estimate the total net rentable square feet available for lease based on a number of factors in addition to contractually leased square feet, including available power, required support space and common area.

Page 26

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Lease Expirations - By Property Type

As of September 30, 2010

(Dollar amounts in thousands)

TECHNOLOGY MANUFACTURING

Year	Number of Leases Expiring (1)		Square Footage of Expiring Leases (2)		Percentage of Net Rentable Square Feet (2)			Annualized Rent (3)		Percentage of Annualized Rent			Annualized Rent Per Occupied Square Foot		Annualized Rent Per Occupied Square Foot at Expiration		Annualized Rent at Expiration
Available				—		0.0	%		—		0.0	%
2010		1		—		0.0	%	$	61		0.0	%	$	—	$	—	$	61
2011		2		215,050		1.5	%		4,345		0.6	%		20.20		20.75		4,463
2012		—		—		0.0	%		—		0.0	%		—		—		—
2013		5		144,271		1.0	%		2,337		0.3	%		16.20		17.16		2,476
2014		—		—		0.0	%		—		0.0	%		—		—		—
2015		4		131,386		0.9	%		6,175		0.9	%		47.00		47.51		6,242
2016		1		—		0.0	%		24		0.0	%		—		—		24
2017		1		113,405		0.7	%		2,853		0.4	%		25.16		28.16		3,194
2018		—		—		0.0	%		—		0.0	%		—		—		—
2019		—		—		0.0	%		—		0.0	%		—		—		—
Thereafter		—		—		0.0	%		—		0.0	%		—		—		—
Portfolio Total / Weighted Average		14		604,112		4.1	%	$	15,795		2.2	%	$	26.15	$	27.25	$	16,460

TECHNOLOGY OFFICE

Year	Number of Leases Expiring (1)		Square Footage of Expiring Leases (2)		Percentage of Net Rentable Square Feet (2)			Annualized Rent (3)		Percentage of Annualized Rent			Annualized Rent Per Occupied Square Foot		Annualized Rent Per Occupied Square Foot at Expiration		Annualized Rent at Expiration
Available				19,923		0.0	%		—		0.0	%
2010		—		—		0.0	%	$	—		0.0	%	$	—	$	—	$	—
2011		4		367,033		2.5	%		7,222		1.1	%		19.68		19.68		7,222
2012		—		—		0.0	%		—		0.0	%		—		—		—
2013		1		2,000		0.0	%		24		0.0	%		12.00		12.00		24
2014		—		—		0.0	%		—		0.0	%		—		—		—
2015		—		—		0.0	%		—		0.0	%		—		—		—
2016		—		—		0.0	%		—		0.0	%		—		—		—
2017		1		156,000		1.1	%		2,644		0.4	%		16.95		19.50		3,042
2018		—		—		0.0	%		—		0.0	%		—		—		—
2019		—		—		0.0	%		—		0.0	%		—		—		—
Thereafter		5		12,400		0.1	%		—		0.0	%		—		—		—
Portfolio Total / Weighted Average		11		557,356		3.7	%	$	9,890		1.5	%	$	18.40	$	19.14	$	10,288

(1) Includes license and similar agreements that upon expiration will be automatically renewed, mostly on a month-to-month basis. Number of leases represents the leased-unit count; a lease could include multiple units.

(2) For some of our properties, we calculate square footage based on factors in addition to contractually leased square feet, including available power, required support space and common area.

(3) Annualized rent represents the monthly contractual rent under existing leases as of September 30, 2010 multiplied by 12. We estimate the total net rentable square feet available for lease based on a number of factors in addition to contractually leased square feet, including available power, required support space and common area.

Page 27

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Leasing Activity

As of September 30, 2010

	For the Three Months Ended Sept. 30, 2010 (4)			% Leased
Occupied Square Feet as of June 30, 2010 (1)		12,601,846			95.0	%
3Q 2010 Acquisitions:
2121 South Price Road		285,593
365 Main Street		195,342
720 2nd Street		118,226
2260 East El Segundo		132,240
4030-4050 La Fayette Center Dr		103,029
2950 Zanker Rd		69,700
900 Dorothy Dr.		56,176
800 Central Expressway		—
Occupied Square Feet including 3Q 2010 Acquisitions (1)		13,562,152			93.8	%
Expirations, Terminations and Reductions		(66,751	)		(0.4	%)
New Leases and Expansions		228,874			1.6	%
Remeasurements (2)		5,069			0.0	%
Occupied Square Feet as of September 30, 2010 (1)		13,729,344			95.0	%
GAAP Rent Growth (3)
Expiring Rent per Square Foot				$	29.49
New Rent per Square Foot				$	104.70
Percentage Increase					255.0	%
Weighted Average Lease Term - New (in months)					125

(1) Occupancy excludes space held for redevelopment.

(2) Represents remeasuring of building and/or specific areas to Building Owners and Managers Association (BOMA) standards.

(3) Represents estimated cash rent growth adjusted for straight-line rents in accordance with GAAP.

(4) For some of our properties, we calculate square footage based on factors in addition to contractually leased square feet, including available power, required support space and common area.

Page 28

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Tenant Improvements and Leasing Commissions

	Three Months Ended								Full Year
	9/30/2010		6/30/2010		3/31/2010		12/31/2009		2009
Renewals (1)
Number of renewals		20		15		15		24		84
Square Feet (2)		123,508		92,982		100,167		244,005		1,169,266
Tenant improvement costs per square foot (3)	$	1.68	$	0.82	$	1.25	$	—	$	1.10
Leasing commission costs per square foot (3)	$	20.10	$	9.99	$	5.82	$	2.84	$	6.99
Total renewal lease costs per square foot	$	21.78	$	10.81	$	7.07	$	2.84	$	8.09
New Leases (4)
Number of non-redevelopment leases		17		18		12		10		47
Non-Redevelopment square feet (2)		106,258		23,125		9,235		39,486		199,576
Non-Redevelopment tenant improvement costs per square foot (3)	$	2.67	$	—	$	5.41	$	4.59	$	3.91
Non-Redevelopment leasing commission costs per square foot (3)	$	9.52	$	16.75	$	9.41	$	4.96	$	5.05
Number of redevelopment leases		17		13		8		13		56
Redevelopment square feet (2)		122,616		140,885		106,648		51,458		557,480
Redevelopment tenant improvement costs per square foot (3) (5)	$	4.89	$	27.87	$	6.43	$	—	$	3.81
Redevelopment leasing commission costs per square foot (3)	$	18.06	$	15.45	$	13.77	$	20.29	$	14.36
Total Number of Leases		34		31		20		23		103
Total Square Feet (2)		228,874		164,010		115,883		90,944		757,056
Total new lease costs per square foot	$	17.96	$	39.57	$	19.78	$	15.63	$	15.74
Total (6)
Number of leases		54		46		35		47		187
Square Feet (2)		352,382		256,992		216,050		334,949		1,926,321
Tenant improvement costs per square foot (3)	$	3.10	$	15.58	$	3.99	$	0.54	$	2.17
Leasing commission costs per square foot (3)	$	16.20	$	13.59	$	9.90	$	5.77	$	8.92
Total costs per square foot	$	19.30	$	29.17	$	13.89	$	6.31	$	11.09

(1) Does not include retained tenants that have relocated to new space or expanded into new space.

(2) For some of our properties, we calculate square footage based on factors in addition to contractually leased square feet, including available power, required support space and common area.

(3) Assumes all tenant improvement and leasing commissions are paid in the calendar year in which the lease commences, which may be different than the year in which they are actually paid.

(4) Includes retained tenants that have relocated to new space or expanded into new space within our portfolio.

(5) Redevelopment Tenant Improvement costs include tenant-specific building improvements for square footage designated as space held for redevelopment; however, they do not include redevelopment costs.

(6) Recent property acquisitions may make a period-over-period comparison difficult. For a list of the acquisition dates of our properties, see page 20.

Page 29

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Historical Capital Expenditures

	Three Months Ended
	9/30/2010		6/30/2010		3/31/2010		12/31/2009		9/30/2009		6/30/2009		3/31/2009
Recurring capital expenditures(1) (2)	$	3,660,000	$	5,044,000	$	5,180,000	$	7,049,000	$	4,803,000	$	9,628,000	$	4,779,000
Non-recurring capital expenditures(2)	$	81,816,000	$	74,735,000	$	54,743,000	$	56,967,000	$	66,272,000	$	88,605,000	$	125,530,000
Total net rentable square feet at period end excluding redevelopment space(3)		14,456,127		13,270,035		13,211,992		12,573,634		11,964,522		11,854,886		11,784,573

(1) Recurring capital expenditures represent non-incremental building improvements required to maintain current revenues along with leasing commissions. Recurring capital expenditures do not include acquisition capital that was taken into consideration when underwriting the purchase of a building or which are incurred to bring a building up to “operating standard”.

(2) Recent property acquisitions may make a period-over-period comparison difficult. For a list of the acquisition dates of our properties, see page 20.

(3) For some of our properties, we calculate square footage based on factors in addition to contractually leased square feet, including available power, required support space and common area.

Page 30

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Redevelopment Activity

For the quarter ended September 30, 2010

(Square feet)

Activity for the quarter ended September 30, 2010	US			Europe			Total			% Leased (1)
Redevelopment Space as of June 30, 2010		1,675,704			240,324			1,916,028
Acquired Redevelopment Space and New Construction Space		192,374			8,309			200,683
Converted Redevelopment Space:
Turn-Key Datacenter®		(95,159	)		(7,500	)		(102,659	)		48.5	%
Powered Base Building®		(57,239	)		(31,678	)		(88,917	)		99.2	%
Remeasurement Adjustments		—			—			—
Redevelopment Space as of September 30, 2010		1,715,680			209,455			1,925,135
Redevelopment Space Under Construction at Quarter End	US			Europe			Total			% Leased(2)
Turn-Key Datacenter®		128,305			24,975			153,280			51.9	%
Build-to-Suit		—			55,972			55,972			100.0	%
New Powered Base Building® Shell		—			—			—
Redevelopment Space Under Construction as of September 30, 2010		128,305			80,947			209,252

(1) Defined as leases that have commenced on or before September 30, 2010.

(2) Defined as leases that were signed on or before September 30, 2010.

Page 31

DIGITAL REALTY TRUST, INC.

Third Quarter 2010

Management Statements on Non-GAAP Supplemental Measures

Funds from Operations:

We calculate funds from operations, or FFO, in accordance with the standards established by the National Association of Real Estate Investment Trusts, or NAREIT. FFO represents net income (loss) (computed in accordance with GAAP), excluding gains (or losses) from sales of property, real estate related depreciation and amortization (excluding amortization of deferred financing costs) and after adjustments for unconsolidated partnerships and joint ventures. Management uses FFO as a supplemental performance measure 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 provides 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 performance of 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 changes in the value of our properties 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 properties, 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 REITs may not calculate FFO in accordance with the NAREIT definition and, accordingly, our FFO may not be comparable to such other REITs’ FFO. Accordingly, FFO should be considered only as a supplement to net income computed in accordance with GAAP as a measure of our performance.

Adjusted Funds from Operations:

We present adjusted funds from operations, or AFFO, as a supplemental operating measure because, when compared year over year, it assesses our ability to fund dividend and distribution requirements from our operating activities. We also believe that, as a widely recognized measure of the operations of REITs, AFFO will be used by investors as a basis to assess our ability to fund dividend payments in comparison to other REITs, including on a per share and unit basis. We calculate AFFO by adding to or subtracting from FFO (i) non-real estate depreciation, (ii) amortization of deferred financing costs, (iii) non-cash compensation, (iv) straight line rents, (v) fair value of lease revenue amortization, (vi) capitalized leasing payroll, (vii) recurring tenant improvements, (viii) capitalized leasing commissions and (ix) costs of redeeming our Series A preferred stock. Other equity REITs may not calculate AFFO in a consistent manner. Accordingly, our AFFO may not be comparable to other REITs’ AFFO. AFFO 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 expense, income taxes, depreciation and amortization, 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 amortization or the cost of debt and, with respect to Adjusted EBITDA, preferred dividends and noncontrolling interests. Adjusted EBITDA is EBITDA excluding noncontrolling interests, preferred stock dividends and costs of redeeming our Series A 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 EBITDA 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 expenditures 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; accordingly, our EBITDA and Adjusted EBITDA may not comparable to such other REITs’ EBITDA and Adjusted EBITDA. Accordingly, EBITDA and Adjusted EBITDA should be considered only as supplements to net income (computed in accordance with GAAP) as a measure of our financial performance.

NOI and Run-rate NOI:

Net Operating Income (NOI)

NOI represents rental revenue and tenant reimbursement revenue less rental property operating and maintenance expenses, property taxes and insurance expenses (as reflected in the statement of operations). NOI is commonly used by stockholders, company management and industry analysts as a measurement of operating performance of the company’s rental portfolio. However, because NOI excludes depreciation and amortization and captures neither the changes in the value of our properties 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 properties, all of which have real economic effect and could materially impact our results from operations, the utility of NOI as a measure of our performance is limited. Other REITs may not calculate NOI in the same manner we do and, accordingly, our NOI may not be comparable to such other REITs’ NOI. Accordingly, NOI should be considered only as a supplement to net income computed in accordance with GAAP as a measure of our performance.

Run-rate NOI:

Run-rate NOI represents NOI as defined above adjusted for new acquisitions to show an estimate of NOI as if the property had been owned for the entire quarter. Run-rate NOI is commonly used by stockholders, company management and industry analysts as a measurement of future operating performance of the company’s rental portfolio. Run-rate NOI may not be indicative of future performance. Actual performance is subject to risks, uncertainties and assumptions. See the discussion of forward-looking statements on page 3. Other REITs may not calculate Run-rate NOI in the same manner we do and, accordingly, our Run-rate NOI may not be comparable to such other REITs’ Run-rate NOI. Accordingly, Run-rate NOI should be considered only as a supplement to net income computed in accordance with GAAP as a measure of our performance.

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