Essential Properties Realty Trust, Inc. · NYSE:EPRT
Essential Properties Realty Trust — Investor Presentation (September 2025)
35 slides from Essential Properties Realty Trust's investor presentation, Sep 8, 2025
Slide 1: Investor Presentation and Supplemental Information September 2025
Investor Presentation and Supplemental Information September 2025 Exhibit 99.1
Slide 2: Disclaimer
Investor Presentation and Supplemental Information | September 20251 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Disclaimer 242, 242, 242 This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 an
Slide 3: Table of Contents
Investor Presentation and Supplemental Information | September 20252 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Table of Contents 242, 242, 242 Operating Update 3 Investment Highlights 4 Portfolio Review 7 Leverage & Liquidity 17 Peer Comparison 20 Commitment to ESG 2
Slide 4: Operating Update
Investor Presentation and Supplemental Information | September 20253 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Healthy Net Lease Portfolio1 • Stable Portfolio: 99.6% leased; same-store rent growth has averaged 1.4% over the last four quarters. • Strong Coverage: Unit
Slide 5: Investment Highlights
Investor Presentation and Supplemental Information | September 20254 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 EPRT Board Meeting Management Presentation First Quarter Ended March 31, 2023 Investment Highlights
Slide 6: Investment Highlights
Investor Presentation and Supplemental Information | September 20255 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Baa2/BBB/ BBB- Investment Grade Rated • Originating bespoke capital solutions, 93% structured as Sale-Leasebacks in 2Q'25 • Focused on core industries in th
Slide 7: Disciplined Underwriting Approach and Historical Credit Performance
Investor Presentation and Supplemental Information | September 20256 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Historical Credit Performance Comparable to Investment Grade (BBB-) Bonds1 Disciplined Underwriting Approach — Four Key Risk Mitigants Provide Downside Prot
Slide 8: Portfolio Review
Investor Presentation and Supplemental Information | September 20257 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Portfolio Review
Slide 9: New Vintage Portfolio Focused on Targeted Industries
Investor Presentation and Supplemental Information | September 20258 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 242, 242, 242 1. As of June 30, 2025 2. Includes 148 properties that secure mortgage loans receivable. 3. Includes investments in mortgage loans receivable
Slide 10: Tenant and Industry Diversification
Investor Presentation and Supplemental Information | September 20259 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 1. Represents tenant, guarantor or parent company. 2. Property count includes 148 properties that secure mortgage loans receivable, but excludes nine vacant
Slide 11: Diversified Portfolio - Geographic Diversity
Investor Presentation and Supplemental Information | September 202510 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Diversified Portfolio – Our Tenants Identify the Location of Opportunities Geographical Diversity is an Output of our Strategy • Geographic Diversity1 ~74%
Slide 12: Net Investment Activity: Investment Summary
Investor Presentation and Supplemental Information | September 202511 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Net Investment Activity Investment Summary 242, 242, 242 1. Includes investments in mortgage loans receivable. 2. Cash ABR for the first full month after t
Slide 13: Net Investment Activity: Disposition Summary
Investor Presentation and Supplemental Information | September 202512 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Net Investment Activity Disposition Summary 242, 242, 242 1. Includes the impact of transaction costs. 2. Gains/(losses) based on our initial purchase pric
Slide 14: Leasing Summary: Lease Escalations
Investor Presentation and Supplemental Information | September 202513 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Leasing Summary Lease Escalations 242, 242, 242 1. Based on cash ABR as of June 30, 2025. 2. Represents the weighted average annual escalation rate of the
Slide 15: Leasing Summary: Same-Store Analysis
Investor Presentation and Supplemental Information | September 202514 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Leasing Summary Same-Store Analysis 242, 242, 242 Same-Store Portfolio Performance¹ Contractual Cash Rent ($000s)² % Type of Business 2Q'24 2Q'25 Change Se
Slide 16: Portfolio Health: Unit-Level Coverage
Investor Presentation and Supplemental Information | September 202515 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 % o f C as h A B R < 1.00x 1.00 to 1.49x 1.50 to 1.99x ≥ 2.00x NR C C C + B - B B + B B - B B B B + B B B - B B B B B B + A - A A + A A - —% 2.0% 4.0% 6.0%
Slide 17: Leasing Expiration Schedule, Renewal Activity and Statistics
Investor Presentation and Supplemental Information | September 202516 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Leasing Summary Leasing Expiration Schedule, Lease Renewal Activity and Statistics 242, 242, 242 1. Expiration year of contracts in place as of June 30, 20
Slide 18: Leverage & Liquidity
Investor Presentation and Supplemental Information | September 202517 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Leverage & Liquidity
Slide 19: Investment Grade Balance Sheet with Strong Credit Profile
Investor Presentation and Supplemental Information | September 202518 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 3.7x 4.0x 3.6x 3.8x 3.5x 3.8x 3.4x 3.5x 3Q'23 4Q'23 1Q'24 2Q'24 3Q'24 4Q'24 1Q'25 2Q'25 0.0x 1.0x 2.0x 3.0x 4.0x 5.0x 6.0x Conservative and Flexible Debt S
Slide 20: Consistently Strong Liquidity to Fund Growth
Investor Presentation and Supplemental Information | September 202519 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Consistently Strong Liquidity to Fund Growth ($mm) Strong Liquidity to Drive Leading AFFO/sh Growth $1.7B of Liquidity and Balance Sheet Capacity to Suppor
Slide 21: Peer Comparison
Investor Presentation and Supplemental Information | September 202520 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Peer Comparison
Slide 22: Peer Comparison: Portfolio Metrics
Investor Presentation and Supplemental Information | September 202521 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Source: Public filings and press releases. Note: Data based on reported filings for period ending June 30, 2025, not adjusted for post quarter-end subseque
Slide 23: Peer Comparison: Capitalization and Valuation
Investor Presentation and Supplemental Information | September 202522 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Source: Public filings, FactSet and S&P Capital IQ. Note: Market data as of September 4, 2025. Capitalization data based on most recent reported filings fo
Slide 24: Commitment to ESG
Investor Presentation and Supplemental Information | September 202523 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Commitment to ESG
Slide 25: Environmental, Social and Governance
Investor Presentation and Supplemental Information | September 202524 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Governance • Leading governance practices, Board accountability, strong board diversity, required minimum stock ownership, published compensation clawback
Slide 26: Financials
Investor Presentation and Supplemental Information | September 202525 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Financials
Slide 27: Consolidated Statements of Operations
Investor Presentation and Supplemental Information | September 202526 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 1. Includes contingent rent (based on a percentage of the tenant's gross sales at the leased property) of $236, $96 ,$442 and $334 for the three and six mo
Slide 28: Financial Summary: FFO and AFFO
Investor Presentation and Supplemental Information | September 202527 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 1. Calculations exclude $229, $118, $455 and $234 from the numerator for the three and six months ended June 30, 2025 and 2024, respectively, related to di
Slide 29: Consolidated Balance Sheets
Investor Presentation and Supplemental Information | September 202528 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Financial Summary Consolidated Balance Sheets 242, 242, 242 (in thousands, except share and per share amounts) June 30, 2025 December 31, 2024 ASSETS (Unau
Slide 30: GAAP Reconciliations to EBITDAre, NOI and Cash NOI
Investor Presentation and Supplemental Information | September 202529 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Financial Summary GAAP Reconciliations to EBITDAre, GAAP NOI, Cash NOI and Estimated Run Rate Metrics 242, 242, 242 1. Adjustment is made to reflect EBITDA
Slide 31: Capitalization and Debt Summary
Investor Presentation and Supplemental Information | September 202530 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 1. Pro forma adjustments made to reflect the issuance of $400mm senior unsecured notes with proceeds used to repay amounts outstanding on the Company's rev
Slide 32: Glossary
Investor Presentation and Supplemental Information | September 202531 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Glossary
Slide 33: Glossary: Supplemental Reporting Measures
Investor Presentation and Supplemental Information | September 202532 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Glossary Supplemental Reporting Measures 242, 242, 242 FFO, Core FFO and AFFO Our reported results are presented in accordance with U.S. generally accepted
Slide 34: Glossary: EBITDA and EBITDAre
Investor Presentation and Supplemental Information | September 202533 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Glossary Supplemental Reporting Measures 242, 242, 242 We also present our earnings before interest, taxes and depreciation and amortization for real estat
Slide 35: Glossary: Adjusted EBITDAre / Adjusted NOI / Adjusted Cash NOI
Investor Presentation and Supplemental Information | September 202534 254, 192, 59 75, 108, 127 146, 204, 238 0, 0, 0 38, 169, 224 153, 223, 227 Glossary Supplemental Reporting Measures 242, 242, 242 Adjusted EBITDAre / Adjusted NOI / Adjusted Cash NOI We further adjust EBITDAre, NOI and Cash NOI i)
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