Essex Property Trust — Q1 2026 Earnings Presentation

5 slides from Essex Property Trust's earnings presentation, April 2026

Slide 1: First Quarter 2026 Credit Update
1250 Lakeside 250 Apartment Homes Sunnyvale, CA FIRST QUARTER 2026 CREDIT UPDATE
Slide 2: Selected Ratios & Credit Ratings
SELECTED RATIOS & CREDIT RATINGS Public Bond Covenants(1) & Selected Credit Ratios Q1 ’26 Q4 ’25 Q3 ’25 Q2 ’25 Q1 ’25 Covenant Debt to Total Assets 34% 35% 34% 35% 35% < 65% Secured Debt to Total Assets 4% 4% 4% 4% 5% < 40% Interest Coverage 509% 510% 517% 524% 532% > 150% Unsecured Debt Ratio (2) 2
Slide 3: Recent Highlights and 2026 Guidance
RECENT HIGHLIGHTS AND 2026 GUIDANCE  Reported Net Income per diluted share for the first quarter of 2026 of $1.65, compared to $3.16 in the first quarter of 2025. The decrease is mainly attributable to gain on sale of real estate and land recognized in the first quarter of 2025.  Grew Core FFO per
Slide 4: Capital Structure & Liquidity Profile
CAPITAL STRUCTURE & LIQUIDITY PROFILE $22.9 Billion Total Market Capitalization (1) Debt Composition (1) (2) Secured Secured Debt Fixed Rate Secured 3% 8% Variable Rate 4% Unsecured Unsecured Debt Term Loan 27% 9% Commercial Paper and Credit Facility Equity 0% Commercial Paper Unsecured and Credit F
Slide 5: Maturity Schedule
MATURITY SCHEDULE Debt Maturity Schedule (1) 1,200 (as of 3/31/2026) Debt Maturities in Millions ($) 1,000 2 67 800 2 126 600 2 1 99 68 850 900 2 400 84 3 650 600 500 550 200 450 450 330 400 350 350 0 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 Thereafter Unsecured Secured % of Total Debt