Item 1. Business

Overview: Powering the World’s Digital Leaders

Equinix is the world's digital infrastructure companyTM. Digital leaders harness our trusted platform to bring together and interconnect the foundational infrastructure that powers their success. We enable our customers to access all the right places, partners and possibilities they need to accelerate their advantage. Platform Equinix® combines a global footprint of International Business Exchange™ ("IBX®") and xScale® data centers in the Americas, Asia-Pacific, and Europe, the Middle East and Africa ("EMEA") regions, interconnection solutions, digital offerings, unique business and digital ecosystems and expert consulting and support. Equinix was incorporated on June 22, 1998, as a Delaware corporation and operates as a REIT for federal income tax purposes.

Al Avery and Jay Adelson founded Equinix as a network-neutral, multi-tenant data center ("MTDC") provider, where competing networks could connect and share data traffic to help scale the rapid growth of the early internet. The company’s name, Equinix (composed from the words "equality", "neutrality" and "internet exchange"), reflects that vision. The founders also believed they not only had the opportunity but also the responsibility to create a company that would be the steward of some of the most important digital infrastructure assets in the world. Nearly two and a half decades later, we have expanded upon that vision to build Platform Equinix, which we believe is unmatched in scale and reach.

Our interconnected data centers around the world allow our customers to bring together and interconnect the infrastructure they need to fast-track their digital advantage. With Equinix, they can scale with agility, speed the launch of digital offerings, deliver world-class experiences and multiply their value. We enable them to differentiate by distributing infrastructure and removing the distance between clouds, users and applications in order to reduce latency and deliver a superior customer, partner and employee experience. The Equinix global platform, and the quality of our IBX and xScale data centers, interconnection offerings and edge solutions, have enabled us to establish a critical mass of customers. As more customers choose Platform Equinix for bandwidth cost and performance reasons, it benefits their suppliers and business partners to colocate in the same data centers and connect directly with each other. This adjacency creates a network effect that attracts new customers, continuously compounds our existing customers' value and enables them to capture further economic and performance benefits from our offerings.

In 2022, we opened or acquired 13 new IBX data centers, opened three new xScale data centers via our joint ventures, and entered three new markets resulting in an increase in our total number of IBX and xScale data center facilities to 248. 2022 highlights include:

• New data center openings included 13 new IBX sites in the following metros: Abidjan, Accra, Genoa, Lagos, Lima, Munich, Manchester, Paris and Santiago.

• Three additional xScale sites opened in 2022 in Frankfurt, Dublin and Sydney, bringing our total number of xScale data centers to 11. xScale data centers serve the needs of the growing hyperscale data center market, including the world's largest cloud service providers, and are engineered to meet the technical and operational requirements and price points of core hyperscale workload deployments. xScale data centers also offer access to our comprehensive suite of interconnection and edge offerings that tie into the hyperscale companies' existing access points at Equinix, thereby increasing the speed of connectivity to their existing and future enterprise customers. In xScale sites, hyperscale companies can consolidate core and access point deployments into one global provider to streamline and simplify their growth.

• In December, we announced plans to enter the South Africa market with a $160 million IBX data center investment in Johannesburg that augments our current footprint on the African continent. With our South Africa expansion, Equinix is entering one of the largest and most digitally developed nations on the African continent. The new data center is expected to open in the middle of 2024.

• In November, we announced plans to enter the Malaysia market with a $40 million IBX data center investment. Equinix's expansion in Malaysia will offer opportunities for Malaysian businesses expanding internationally and for multinational corporations pursuing growth and innovation in the Malaysian market. Located in Johor, the new data center is expected to open in the first half of 2024.

• In October, we announced our plans for expansion into Indonesia, with an approximately $74 million IBX data center investment in the heart of Jakarta. Driven by rapid business digitalization and a substantial digital-savvy population, Indonesia has emerged as Southeast Asia's largest digital economy in value, and is expected to be a key hub of interconnection in the region.

• We also announced in October a $45 million investment in a new facility in Bogota, Colombia, scheduled to open in the first half of 2023. This will be our second data center in Colombia and further reinforces Equinix’s commitment to strengthening the digital economy across Latin America.

• In September, we opened a new IBX data center in Paris, France. Part of Equinix's Saint-Denis campus, the new site ("PA10") represents the tenth data center opened by Equinix in Paris. The new $163 million facility will incorporate multiple sustainability best practices, including heat recovery technology directly connected to Paris’s Saint-Denis urban heating network.

*•*In August, we completed our acquisition of a data center in Lima, Peru, from Empresa Nacional De Telecomunicaciones S.A. ("Entel"), a leading Chilean telecommunications provider, for a total purchase consideration of $80.3 million at the exchange rate in effect on the date of signing.

• In June, Equinix and PGIM Real Estate, the real estate investment and financing arm of PGIM, Prudential Financial's global asset management business, opened the first xScale data center in Sydney ("SY9x"). This milestone followed the closing of the $575 million joint venture between the parties in March of 2022.

*•*Extending our presence deeper into Latin America in May, we completed the acquisition of four data centers in Chile, from Entel, for a total purchase consideration of $638.3 million at the exchange rate in effect on the date of signing.

• In April, we entered Africa, closing on our $278.4 million acquisition of MainOne, a leading West African data center and connectivity solutions provider, with presence in Nigeria, Ghana and Côte d'Ivoire. The completion of the acquisition augmented Equinix's long-term strategy to become a leading African carrier-neutral digital infrastructure company by being able to bring a full range of transformative technologies and connectivity to Nigeria, Ghana and Cote d'Ivoire.

• Our new IBX data center in Aschheim, near Munich, Germany (“MU4”), opened in February to support the growing digital needs of local companies—particularly from the automotive, industrial, financial and healthcare sectors—providing them with direct, secure and fast connectivity to a multitude of cloud providers, services and partners. Like other new Equinix builds in Germany, it was designed in line with Equinix’s global sustainability strategy, featuring a green façade and partially planted roof. Additionally, the data center is expected to be powered by 100% renewable energy—purchased through a green power certificate from local supplier, Mainova.

• In January, we signed a joint venture agreement with GIC in Singapore to develop and operate two xScale data centers in Seoul, Korea. The joint venture will bring our global xScale data center portfolio to more than $8 billion across 36 facilities.

Industry Trends: Large-scale global trends are driving a digital-first strategy

Digital transformation is changing where and how businesses deploy and deliver IT services to employees and is creating new digital business models for partners and customers. The convergence of these global trends has created additional pressure for many companies to transform. The collective influence of these trends is driving complexity and risk that must be addressed in multiple locations for companies to effectively compete in the global digital economy. These trends include:

• The digital presence trend** underpins businesses’ prioritization of transformation to engage and deliver value electronically. To compete in the digital economy, organizations are shifting to digital solutions. Digital transformation investment levels for 2022–2024 are expected to be $6.3 trillion and 55% of all Information and Communication Technology ("ICT") investment by the end of 2024. This forces the need for a digital infrastructure optimized for proximity to, and interconnection with, networks and clouds. This in turn enables digital development with elastic scale. IT becomes a revenue-generating function and the basis of competitive advantage for developing connected product bundles.

• The digital participation trend** is digitizing trade and accessing digital marketplaces (digital B2B commerce) where goods and services are exchanged in the digital economy. Leveraging ecosystem and network effects optimizes collaboration and compounds business value. By 2023, it is expected that one in two companies will generate more than 40% of their revenues from digital products and services. The Global Interconnection Index 2023 ("GXI 2023"), a market study published by Equinix, shows that this forces the need to interconnect digital infrastructure with research communities, supply chains and marketplaces, enabling composable business models. IT becomes a business technology broker across an ecosystem of digital solutions and facilitates collaboration with network effects.

• The digital proximity trend** means digitizing the front office for localized and personalized delivery—to customers, employees and operations where business happens, as well as digitizing the physical world for the physical infrastructure and operations intelligence needed to optimize commercial and environmental impact. By 2028, the global infrastructure edge footprint is expected to be 40 gigawatts, with 63% supporting healthcare, manufacturing, energy, retail and transportation. IT becomes fully integrated with operational technology ("OT") to balance transparency, efficiency and sustainability with greater mobility, security and control.

• The sustainability trend** means that companies are now being held accountable by investors, employees and customers to demonstrate progress on Environmental, Social and Governance ("ESG") commitments. Sustainability is believed to be important by 90% of executives, but only 60% of organizations have sustainability strategies. These strategies include setting and measuring sustainability goals through science-based targets and key initiatives. IT must subscribe to the most efficient commodity solutions from sustainability leaders.

These trends are accelerating the need for companies like Equinix that can provide a secure, agile global business platform that leverages digital interconnection—or private data exchange—to deliver real-time interactions around the world.

As part of their digital transformation, businesses in most industries are shifting their centralized IT infrastructures to the edge to bring digital solutions closer to users for better performance, which has become a significant driver of digital business value. To realize the full potential of the edge, IT organizations require greater interconnection bandwidth. Interconnection bandwidth is defined as the total capacity provisioned to privately and directly exchange traffic, with a diverse set of partners and providers, at distributed IT exchange points inside carrier-neutral colocation data centers. Private interconnection capacity between businesses, as reported in GXI 2023, is anticipated to grow at a compound annual growth rate of 40% by 2025, reaching 27,762 terabits per second of data exchanged annually.

Worldwide Interconnection Bandwidth Capacity Growth (2020 - 2025) in Terabits per Second (Tbps)

Source: GXI 2023

Equinix Business Proposition: To be the platform where the world comes together, enabling the innovations that enrich our work, life and planet

In 2022, we continued to build new digital and data center offerings to further our vision to power the world’s digital leaders. On Platform Equinix, digital leaders can reach the most strategic global markets with the largest ecosystem of digital partners, with infrastructure that assembles and deploys virtually in minutes. We enable competitive advantage for our customers and partners by creating the foundational infrastructure capabilities that power worldwide businesses. We offer a comprehensive, integrated suite of data center and digital solutions and products to over 10,000 enterprise and service provider customers worldwide.

The following are the leading revenue-generating product and other offerings that collectively make up Platform Equinix:

Data Center Offerings

Our global, state-of-the-art data centers meet strict standards of security, reliability, certification and sustainability. Offerings in these data centers are typically billed based on the space and power a customer consumes, are delivered under a fixed duration contract and generate monthly recurring revenue ("MRR"). Our footprint consists of 248 data centers:

• International Business Exchange** Data Centers are our vendor-neutral colocation data centers worldwide, providing our customers with secure, reliable and robust environments (including space and power) that are necessary to aggregate and distribute information and connect digital and business

ecosystems globally. IBX data centers provide access to vital ecosystems where enterprises, network, cloud and SaaS providers, and business partners, can directly and securely interconnect to each other.

• xScale Data Centers** are designed to serve the unique core workload deployment needs of a targeted group of hyperscale companies, which include the world's largest cloud service providers. With xScale data centers, hyperscale customers add to their core hyperscale data center deployments and existing customer access points at Equinix, allowing streamlined expansion with a single global vendor.

Equinix colocation offerings include a suite of comprehensive solutions that provide all the components required by a customer to house its IT infrastructure (or equipment). These offerings are designed to speed and streamline digital transformation and data center deployments for our customers.

• Private Cages** are typically designed and built to order for a single customer, with space assigned based on purchased power allocations and planned cabinet quantity. A cage typically includes steel mesh walls with a locking door, interconnection provision such as a demarcation rack with patch panels, and cabling systems such as a ladder rack and fiber raceway. Available security accessories include dedicated cameras, biometric hand scanners and more.

• Secure Cabinets** are steel-framed cabinets sized to industry standards, with lockable, fully ventilated doors, and are typically configured to order. Secure Cabinets provide a private, secure, smaller-footprint alternative to a Private Cage. Each cabinet includes an integrated, interconnection-ready demarcation panel and power circuitry sufficient to support planned utilization requirements. Secure cabinets are typically housed in a shared, secured cage within the data center facility.

• Secure Cabinet Express** are ready-for-service Secure Cabinets which are pre-configured to an Equinix recommended, and most common, cabinet configuration. This configuration fits the majority of modern IT deployment requirements, providing a simplified and globally consistent colocation module for cabinet-sized deployments.

Equinix offers a variety of enabling solutions which support a customer's need to implement, operate and maintain their colocated deployments. These solutions include both on-consumption and subscription services which may generate monthly recurring revenue ("MRR") as well as non-recurring revenue ("NRR").

• IBX SmartView****®** is a fully integrated monitoring software which provides customers visibility into the operating data relevant to their specific Equinix footprint as if they were in-house. The software provides online access to real-time environmental and operating data through the Equinix Customer Portal or via either REST (APIs that provide customers the ability to retrieve information about their assets from every IBX location) or streaming API integrations. With real-time alerts and configurable reporting, IBX SmartView allows customers to maintain their IBX operations and plan for future growth.

• Equinix Smart Hands****®** provides around-the-clock, on-site operational support service for remote management, installation and troubleshooting of customer data center equipment. Using Equinix IBX data center technicians, Smart Hands allows customers to manage their Platform Equinix data center operations from anywhere in the world.

• Equinix Infrastructure Services (EIS)** provides customers with a simple one-stop shop to purchase and deploy a world-class colocation deployment. EIS are repeatable, proven processes which address larger, more complex data center jobs, including installation and implementation of new builds, and planned migrations. EIS practices deliver Equinix expertise in colocation design to optimize our customers’ data center needs, including structured cabling, labelling and documentation, procurement recommendations and coordination, and secure de-installation.

Interconnection Offerings

Our interconnection solutions connect businesses directly, securely and dynamically within and between our data centers across our global platform. These solutions are typically billed based on the outbound connections from a customer and generate MRR.

• Equinix Fabric****®** provides secure, on-demand, software-defined interconnection. Built specifically for digital infrastructure, Equinix Fabric enables businesses to connect globally to their choice of thousands of networking, storage, compute and application service providers in the industry’s largest infrastructure ecosystem. As the foundation of Platform Equinix’s interconnection capability, Equinix Fabric also enables customers to quickly and easily connect between the physical and virtual digital infrastructures they have deployed in Equinix data centers globally.

• Cross Connects** provide a point-to-point cable link between two Equinix customers in the same data center. Cross Connects deliver fast, convenient, affordable and highly reliable connectivity and data exchange with business partners and service providers within the Equinix ecosystem.

• Equinix Internet Exchange****®** enables networks, content providers and large enterprises to exchange internet traffic through the largest global peering solution. Service providers can aggregate traffic to multiple counterparties, called peers, on one physical port and handle multiple small peers while moving high-traffic peers to private interconnections. This reduces latency for end users when accessing content and applications.

• Equinix Internet Access** is an agile, scalable, resilient and high-performing internet access solution. With at least two upstream ISPs in each market, Equinix Internet Access offers the resiliency that organizations demand and direct connections to major content destinations, resulting in superior performance. It provides the convenience of a one-stop shop and the flexibility required to connect to the internet as a primary or secondary access solution. Available globally in more than 40 markets, Equinix Internet Access allows businesses to grow as their needs grow, with scalable bandwidth options to meet their emerging usage requirements.

• Fiber Connect** provides dark fiber links between customers and partners between multiple Equinix data centers. Fiber Connect enables fast, convenient and affordable integration with partners, customers and service providers across the global Equinix digital ecosystem. It supports highly reliable, extremely low-latency communication, system integration and data exchange.

Digital Offerings

Our edge solutions help businesses rapidly deploy as a service networking, security and hardware across our global data center footprint as an alternative to buying, owning and managing the physical infrastructure. Our edge solutions are typically billed based on the number of instances and the capacity used by a customer and generate MRR.

• Network Edge** allows customers to modernize networks within minutes, by deploying network functions virtualization ("NFV") from multiple vendors across Equinix metros. Companies can select, deploy and connect virtual network solutions at the edge quickly, with no additional hardware requirements.

• Equinix Metal****®** allows enterprises, SaaS companies and digital service providers to provision interconnected bare metal resources in minutes instead of months, while reducing the capital expenditures and operational requirements of owning hardware. They can also reduce cloud costs while retaining the flexibility and operational expenditures of cloud solutions via on-demand, reserved or spot market capacity in Equinix’s global data centers using the Equinix Metal portal or DevOps-friendly APIs and integrations. DevOps, a combination of "development" and "operations", aligns collaboration between software development (Dev) and IT operations (Ops) skills and experiences to build, test and deploy APIs and other functionalities quickly.

• Equinix Precision Time****®** provides secure Precision Time Protocol ("PTP") and Network Time Protocol ("NTP") Time as a Service for distributed enterprise applications on Platform Equinix. The solution uses redundant and strategically located equipment and the high-performance network backbone of Equinix Fabric to deliver secure, reliable and precise time synchronization. Customers gain access to the product portal, allowing them to provision, manage and monitor their service.

Competition

While a large number of enterprises and service providers, such as hyperscale cloud service providers, own their own data centers, we believe the industry is shifting away from single-tenant solutions to outsourcing some or all of their IT housing and interconnection requirements to third party facilities, such as those operated by us. This shift is being accelerated by the increasing adoption of hybrid multicloud architectures.

Historically, the outsourcing market was served by large telecommunications carriers who bundled their products and services with their colocation offerings. The data center market landscape has evolved to include private and vendor-neutral MTDC providers, public and private cloud providers, managed infrastructure and application hosting providers, and systems integrators. It is estimated that Equinix is one of more than 2,200 companies that provide MTDC offerings around the world. The global MTDC market is highly fragmented. Each of these data center solutions providers can bundle various colocation, interconnection and network offerings, outsourced IT infrastructure solutions and managed services. We believe that this outsourcing trend has

accelerated and is likely to continue to accelerate in the coming years, especially in light of the movement to digital business and the use of multiple cloud service providers.

Equinix is differentiated in this market by being able to offer customers a global platform that reaches over 30 countries and contains the industry’s largest and most active ecosystem of partners in our sites, including access to a leading share of cloud on-ramps, and an increasingly diverse ecosystem of networks and cloud and IT service providers. This ecosystem creates a “network effect” which improves performance and lowers cost for our customers, enabling them to become digital leaders, and is a significant source of competitive advantage for Equinix. Additionally, our digital solutions portfolio enables customers to bring together physical and programmable technologies like compute, storage, network and applications, to build a foundation for their company's digital operations.

Customers

Our customers include telecommunications carriers, mobile and other network services providers, cloud and IT services providers, digital media and content providers, financial services companies, and global enterprise ecosystems in various industries. We provide each company access to a choice of business partners and solutions based on their colocation, interconnection and managed IT service needs, and delivered 99.9999% operational uptime across our global data centers in 2022. As of December 31, 2022, we had over 10,000 customers worldwide. No one customer made up 10% or more of our total business revenues for the year ended December 31, 2022.

The following companies represent some of our leading customers and partners:

We serve our customers with a direct sales force and channel marketing program. We organize our sales force by customer type, as well as by establishing a sales presence in diverse geographic regions, which enables efficient servicing of the customer base from a network of regional offices. We also support our customers with a global customer care organization.

Human Capital

As of December 31, 2022, we had 12,097 employees worldwide with 5,493 based in the Americas, 3,936 based in EMEA and 2,668 based in Asia-Pacific. Of those employees, 5,130 employees were in engineering and operations, 1,985 employees were in sales and marketing and 4,982 employees were in management, finance and administration. As of December 31, 2022, approximately 73% of our workforce identified as men and approximately 26% identified as women. Women's representation in leadership (defined as VP and above) remained constant at 31% year-over-year.

At Equinix, we strive to build a culture where every employee, every day, can say “I’m Safe, I Belong and I Matter” and where our workforce, at all levels, reflects and represents the communities in which we operate. Our objective is to continue to make our culture a critical competitive advantage, engaging every leader and every employee in the process. To ensure we are upholding our core corporate values and making progress towards our aspirational goals, we monitor employee satisfaction through a quarterly pulse survey, which is one of our listening mechanisms. In 2022, employee satisfaction scores remained steady between 81-82 out of 100 each quarter, resulting in a score for Equinix three points higher than the benchmark score of the top 20th percentile of other companies. Managers use their quarterly pulse survey results to engage in dialogue with their teams about what is top of mind for our employees and how we can do better.

Attracting, developing and retaining talent at all levels is vital to our continued success and we offer industry competitive compensation and benefits, along with development opportunities to help every employee achieve their full potential. We continue to benefit from talent sourcing programs such as our global new-to-career programs as well as pathways programs for veterans and women returning to the workforce. In 2022, we continued to enhance our portfolio of development programs for our employees and gained full adoption of a system-enabled approach to goal setting, development planning and performance assessment to support objectivity and accountability in our talent management process. We offer development tools and opportunities to our employees such as online learning, manager training, professional coaching and 360-degree assessments for eligible employees as well as our leadership program specifically designed for high potential employees at the Director level and above.

We believe in equitable pay and equitable opportunity at every level of the organization. Equinix remains committed to attracting more women and other historically underrepresented groups to join the company, and to ensuring we have fair and consistent practices in place to recognize, reward and promote all employees, regardless of gender, ethnicity, sexual orientation, or other protected classes. Equinix operates a rigorous governance framework to manage pay and other compensation elements to ensure that all reward decisions are made fairly and without discrimination or bias. All roles are mapped and graded to one consistent global organizational framework. Each grade has a specific pay range created by benchmarking against the external market in the country in which the role is located. This global framework is also used to determine target levels for annual bonuses and long-term incentives. We strive to annually update our market data globally where information is available.

We are integrating diversity, inclusion and belonging ("DIB") into every aspect of how we run our business. In 2020, we embarked on a multi-year DIB strategy with governance through a DIB Council chaired by our CEO and CHRO, and in partnership with our Sustainability Program Office, that oversees our progress on environmental, social and governance ("ESG") matters. Our DIB strategy focuses on attracting, developing and retaining a diverse, global workforce; building leadership capability and accountability; and empowering our people to bring DIB to life. We have built multiple pathways to reach new talent from diverse communities. In 2022, we continued to forge partnerships and invest in tools and systems to grow and support our inclusive hiring practices and made updates to our recruitment marketing to reach a wider candidate pool more effectively. In 2022, our Talent Acquisition Team partnered with members of two of our Equinix Employee-led Connection Networks ("EECNs"), BlackConnect and GenteConnect, to build new avenues for recruiting Black/African American and Hispanic/Latinx talent to Equinix in the U.S. We also embedded diversity and inclusive behavior competencies in our leadership profiles and added coaching tools as well as manager training on leading inclusive teams to our development program.

Our EECNs are integral to our DIB strategy and play an important role in creating belonging and advocating for the needs and goals of communities with common identities, cultures or backgrounds. Each of our nine EECNs represents an identity/community that has faced historical discrimination or shares unique challenges. We recognize that creating the best workplace and culture we can requires a global effort with localized awareness and approaches. In 2020, we launched WeAreEquinix employee teams empowered to create, localize and promote purpose, inclusion and belonging for their locations across the world. Through live and virtual events, campaigns, and collaboration with the business, these volunteer leaders bring local opportunities to engage in the following

areas: Wellbeing, Green and Sustainability, Community Impact, Fun and Creativity, DIB, and Employee Networks. We currently have WeAreEquinix teams in 35 locations.

Equinix representatives have joined the G100 Talent Consortium Task Force on Racial Inequity in Business to consider core inequity issues, including anti-racism, bias, and hiring and promotability practices, in order to develop tangible best practices that companies can use as guide rails to increase representation and career mobility for black, indigenous and people of color ("BIPOC") employees. In 2022, we hosted a Days of Understanding event as part of an initiative of CEO ACT!ON, a pledge Equinix has taken along with hundreds of other companies to embrace difference in our organizations, educate our people and build more inclusive cultures inside and outside of our workplaces. As part of this partnership, three Equinix employees completed ACT!ON’s inaugural two-year fellowship program focused on identifying, developing, and promoting scalable and sustainable policies and corporate best practices that address systemic racism and social injustice to improve societal wellbeing, and two new fellows joined. Equinix also completed its first year as a member of the Alliance for Global Inclusion, a coalition of global organizations working together to bring inclusivity and full equity to the workplace. This past year, Equinix worked with the Alliance to address inclusive language, leadership representation, and STEM readiness in under-resourced communities. Finally, in 2022 Equinix continued and expanded its programs with McKinsey to provide leadership development not only to our Black/African American leaders, but also to include individuals who identify as part of the Asian and Latinx communities through the Leadership Academy.

Our Community Impact program promotes connection and belonging, and enables employees to give back, with the support of Equinix, to the communities in which we work and live. In 2022, employees volunteered 22,759 service hours and over $2 million was donated through employee giving, corporate matching funds and grants. Additionally, in 2022, The Equinix Foundation was launched with a focus on the advancement of digital inclusion—from access to technology and connectivity to the skills needed to thrive in today's digitally driven world.

We believe our commitment to the highest standards of honesty, integrity and ethical behavior differentiates our business as much as our technology. We promote these high standards through a number of policies including the Equinix Code of Business Conduct. All employees are required to complete trainings on ethics and the company’s anti-bribery and corruption policies. In addition, we maintain a confidential ethics helpline where employees are encouraged to speak up if they have any questions or concerns that our code is being violated. We have a zero-tolerance, non-retaliation policy that protects our employees when they speak up.

We have continued a number of precautionary measures in line with our business continuity and pandemic plans to minimize the risk of operational impacts and to protect the health and safety of employees, customers, partners and our communities. In 2022, we took a careful approach to the opening of our offices based on guidance from health experts and other leaders from around the world. As we look forward to the future of work, and more importantly amplifying Equinix’s vibrant culture, we are providing flexible, hybrid work opportunities in many roles, enhanced collaboration technologies for everyone, and activity-based workspaces at home or onsite. We recognize that the new normal will require changing behaviors. As such, we are providing learning opportunities and best practices to ensure our meetings, events and work sessions are inclusive and equitable for virtual and in-person participation. Employee well-being has been central to these efforts, driven globally through offerings such as health programs, ergonomic support, technology reimbursements, and wellness days.

We believe that all of these programs and initiatives support our human capital goals, align with our company culture, and increase employee satisfaction.

Sustainability

At Equinix, our Future First sustainability strategy rallies our people and partners to envision a better future and then do what it takes to make it happen. As the world’s digital infrastructure leader, we believe we have the responsibility to harness the power of technology to create a more accessible, equitable and sustainable future. The ESG initiatives comprising our Future First strategy focus on the issues that have the greatest impact on our stakeholders and our business. We continue to work to progress on our sustainability goals and look to build a business and world that reflects our purpose to bring the world together on our platform to create the innovations that will enrich our work, life and planet. We document our ESG progress in our Annual Report as well as in the annual Corporate Sustainability Report.

In 2021, we committed to becoming climate neutral across our global operations by 2030 and set a validated near-term science-based target (“SBT”) for emissions reduction across our global operations and supply chain. Our climate commitments are a critical step to ensure that we continue to advance investments and innovations to reduce greenhouse gas ("GHG") emissions and keep global warming to 1.5 degrees Celsius in alignment with the Paris Climate Agreement.

As a part of our Future First sustainability strategy, we published an Environmental Sustainability and Global Climate Change Policy in 2021 to detail our approach and practices related to the environment, climate change, resource efficiency and reporting. In alignment with our strategy and policy, we are also evaluating our material climate change risks and opportunities based on the recommendations of the Task Force on Climate Related Financial Disclosures (“TCFD”). In 2022, we undertook a qualitative and quantitative climate-related scenario analysis across eight climate scenarios in line with TCFD recommendations. This included scenario analysis modeling for the highest priority physical risks. We are continuing our work to embed climate change risk management into our business where relevant.

Environmental Performance

Equinix was the first data center company to commit to a long-term goal of 100% renewable energy across our global portfolio. We use local renewable energy sources where possible, seek new or recently built renewable sources and advocate for favorable renewable energy policies. In the U.S., we purchase nearly 2.5 million megawatt-hours ("MWh") of green power annually from a portfolio of renewable energy projects, including 225 MW of wind power under long-term virtual power purchase agreements ("VPPAs") located in Texas and Oklahoma. We have also recently executed 3 VPPAs in Europe which will bring 129 MW of new wind capacity to Finland when the projects are operational in 2024, 2025 and 2026. In 2021, 95% of our global electricity consumption, and 100% of U.S. electricity consumption, was covered by renewable energy sources.

We are committed to transparently measuring and reporting our global carbon footprint across direct (Scope 1), indirect energy (Scope 2) and indirect value chain (Scope 3) emissions. Since 2019, we have achieved a 12% reduction in GHG emissions on an absolute basis (Scope 1 and Scope 2 market-based metric tons of carbon dioxide-equivalent (mtCO2e)), even as the company doubled its footprint in both energy consumption and number of sites. In 2022, CDP, a global non-governmental organization dedicated to helping investors and companies measure and manage their climate risks, recognized our commitments, actions and progress on climate change.

We received an 'A' CDP leadership score for climate action and annual disclosures within the CDP Climate Change survey.

We are leveraging technology and innovation to encourage commercialization of solutions that will enable the “Data Center of the Future”. To support our ongoing sustainability initiatives and commitment to innovation, we issued green bonds approximating $3.7 billion from 2020 to 2021, with an additional $1.2 billion in 2022. Our Green Finance Framework aligns our sustainability commitments with our long-term financing needs and highlights our pipeline of green projects and data center innovations. As of December 31, 2022, we have allocated $3.7 billion in net proceeds to finance or refinance, in whole or in part, ongoing and new projects in categories of green buildings, renewable energy and energy efficiency.

We are committed to advancing environmental progress across other areas of our operations. While energy usage, specifically electricity, is our largest environmental impact, to address the growing importance of water within our operations, we launched a Sustainable Water Management Program in 2021. This program drove the implementation of tools to aid in the tracking of water usage at our data centers, helping create a 2021 baseline of our Water Usage Effectiveness (WUE) to inform future actions. We consider the consumption of water in the design and operation of our facilities and are developing a coordinated global approach to water measurement and management. Through our efforts to establish the European Climate-Neutral Data Centre Operator Pact in 2021, Equinix and the EU data center industry have also committed to advancing initiatives beyond renewable energy and energy efficiency, including water efficiency, waste reduction, and circular economy principles.

Sustainability Accounting Standards Board ("SASB") Disclosures

SASB published the Sustainability Accounting Standard ("Standard") for the Real Estate Industry in October 2018. We have aligned our SASB disclosures with the Real Estate Standard to enhance corporate disclosure around ESG performance. In our comprehensive disclosures in our annual Corporate Sustainability Report, we also document our progress against metrics as outlined in other frameworks such as the Global Reporting Initiative ("GRI"), UN Sustainable Development Goals ("SDGs") and TCFD. The following tables detail our energy metrics, aligned with the SASB Real Estate Standard. We intend to expand our reporting around the Real Estate Standard in the coming years.

The following metrics represent our colocation facilities performance in the calendar years specified. Energy, renewable energy and GHG emissions are independently assured to ISO 14064-3:2006 Standards for the quantification and reporting of GHG emissions (Scope 1, 2 and 3). Calendar year data for 2022 will become available in Q2 2023 and will be published in our annual Corporate Sustainability Report.

Energy Management: Energy Consumption

Year			Energy Consumption Data as a % of Floor Area			Total Energy Consumed by Portfolio Area with Data Coverage (MWh) (1)			Like-for-Like Change in Energy Consumption of Portfolio Area with Data Coverage (MWh) (2)			Grid Electricity Consumption as a % of Energy Consumption			Energy Consumption from Renewable Sources (MWh) (3)			Renewable Energy as a % of Energy Consumption (4)			Like-for-Like Change in Energy Consumption from Renewable Sources of Portfolio Area with Data Coverage (MWh) (2) (3)			Renewable Energy as a % of Electricity Consumption
2020**(5)(6)**			95.8%			6,432,000			6.2%			93.2%			5,695,000			89%			5.3%			91%
2021**(7)(8)**			98.0%			7,130,000			23.3%			94.6%			6,689,000			94%			26.1%			95%

(1)The scope of energy includes: energy used onsite (natural gas and diesel), energy procured (purchased electricity, electric power from fuel cells under power purchase agreements, and chilled water).

(2)Like-for-like computed for stabilized asset list for the overlapping list of sites designated as stabilized in 2020 and 2021.

(3)Excludes renewable energy inherently supplied by the standard utility grid mix. Equinix buys renewable energy for the entire electricity consumption of sites including customer and overhead load. The instruments used include: Renewable Energy Certificates (RECs) from VPPAs, RECs, International RECs (I-RECs), Guarantees of Origin (GOOs) and Renewable Energy Guarantees of Origin (REGOs) from suppliers, green tariffs and bundled contracts.

(4)Equinix's global renewable energy percentage reported for RE100 and CDP was 95%, which is comprised of 6,773 GWh of renewables out of 7,136 GWh of electric power consumption. The discrepancy in the totals arises from non-IBX data center sites' energy usage and non-electric power energy consumption.

(5)Recently constructed or acquired sites for which no utility data is available are excluded from the 2020 SASB metrics reporting boundary. These include certain data centers in the Americas (DC21) and EMEA (MC1). Reseller sites are also excluded in the energy metrics (OS99, SH1).

(6)2020 portfolio coverage excludes xScaleTM sites: LD10x, LD13x, FR11x, SP5x, PA8x.

(7)Recently constructed or acquired sites for which no utility data is available are excluded from the 2021 SASB metrics reporting boundary. These include certain data centers in EMEA (FR9x) and Asia-Pacific (OS2x, OS3, PE3) and Equinix's GPX (India) acquisition sites (MB1, MB2). Reseller sites are also excluded in both the gross floor area and the energy metrics (DA99, OS99, SH1).

(8)2021 portfolio coverage includes xScaleTM sites: LD11x, LD13x, PA8x, PA9x, SP5x, TY12x.

Energy Management: Green Building Ratings

Our environmental efforts aim to deliver meaningful and measurable progress against sustainability goals that positively impact our customers, partners, investors and employees. Our data centers are designed with high operational standards and energy efficiency in mind. Our data centers are planned holistically to incorporate the needs of our communities and we aim to minimize the use of all resources in our operations. We evaluate cost-efficient opportunities to enhance energy efficiency and buy renewable energy for existing or acquired sites.

We are working to protect our planet's resources by pioneering green data center innovations and building and operating energy-efficient data centers around the world. Our Energy Efficiency Center of Excellence is driving a global approach to cooling our existing data centers more efficiently. The program engages customers to manage their implementations more sustainably at our facilities, leading to overall improved site efficiencies.

We certify our data centers to numerous green buildings and energy management certifications and schemes. These include USGBC LEED green buildings certifications, ISO 14001:2015 Environmental Management Standard, ISO 50001:2011 Energy Management Standard, BCA Green Mark, U.S. EPA Energy Star for Data Centers and others. In 2021, Equinix became a U.S. Green Building Council (USGBC) Gold member, aligning with the developer of the LEED rating system and furthering our commitment to green buildings. To increase the scalability of certification within our portfolio, we developed a global LEED Scorecard that will help us ensure every new build is prioritizing the design and community guidelines developed by USGBC.

Data centers receiving green building ratings in 2021 and 2022 covered 1.6 million gross sq. ft. While we have additional certifications that are pending final submissions, the following new sites received ratings in 2021 or 2022:

Data Center			Metro Area			Rating Scheme			Level Achieved
2021
DA11			Dallas, Texas			LEED			Silver
ME2			Melbourne, Australia			LEED			Gold
SG4			Singapore			BCA Green Mark			GoldPlus
SV11			Silicon Valley, California			LEED			Gold
TY12x			Tokyo, Japan			LEED			Silver
2022
GN1			Genoa, Italy			LEED			Gold
OS2x			Osaka, Japan			LEED			Certified
OS3			Osaka, Japan			LEED			Silver
SG5			Singapore			BCA Green Mark LEED			Platinum Silver

In 2022, we had 19.1 million gross sq. ft., or 71% of our global footprint, in operation with green buildings and energy management certifications. Within the U.S., we had 4.0 million gross sq. ft., or 45% of our footprint, under certification, including 0.6 million of gross sq. ft., or 7% of U.S. footprint, having achieved U.S. EPA Energy Star for Data Centers. We are currently evaluating enrolling additional sites in the Energy Star program. We disclose these and other site-level details about our data centers on our sustainability website.

Year			Total Gross sq. ft. (million)****(1)			Area of Eligible Portfolio with Green Building Rating (million sq. ft.)****(2)			Eligible Portfolio with Green Building Rating (%)
Global Total through 2022			27.0			19.1			71%
U.S. Total through 2022			8.9			4.0 0.6 (Energy Star)			45% 7% (Energy Star)

(1)Ratings included in our totals: ISO 50001 Energy Management, ISO 14001 Environmental Management, LEED green buildings certifications, U.S. Environmental Protection Agency Energy Star for Data Centers, BCA Green Mark, NABERS and Green Globes.

(2)We are currently evaluating our approach to U.S. EPA Energy Star for Data Centers. In 2021, three sites received Energy Star for Data Centers recognition, representing 7% of our U.S. portfolio. In contrast, our U.S. portfolio has 19 LEED-certified data centers or 34% of the U.S. portfolio by gross square footage.

Our Business Segment Financial Information

We currently operate in three reportable segments comprised of our Americas, EMEA and Asia-Pacific geographic regions. Information attributable to each of our reportable segments is set forth in Note 17 within the Consolidated Financial Statements.

Available Information

Equinix owns and maintains intellectual property in the form of trademarks, patents, application programming interfaces, customer portals and a variety of products and other offerings.

We were incorporated in Delaware in June 1998. We are required to file reports under the Securities Exchange Act of 1934, as amended, with the Securities and Exchange Commission ("SEC"). The SEC maintains an internet website at http://www.sec.gov that contains reports, proxy and information statements and other information.

You may also obtain copies of our annual reports on Form 10-K, our quarterly reports on Form 10-Q and our current reports on Form 8-K, and any amendments to such reports, free of charge by visiting the Investor Relations page on our website, www.equinix.com. These reports are available as soon as reasonably practical after we file them with the SEC. Information contained on or accessible through our website is not part of this Annual Report on Form 10-K.