Essex Property Trust — Q4 2025 Earnings Presentation

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

Slide 1: Fourth Quarter 2025 Credit Update
ViO 234 Apartment Homes San Jose, CA FOURTH QUARTER 2025 CREDIT UPDATE
Slide 2: Selected Ratios & Credit Ratings
SELECTED RATIOS & CREDIT RATINGS Public Bond Covenants(1) & Selected Credit Ratios Q4 ’25 Q3 ’25 Q2 ’25 Q1 ’25 Q4 ’24 Covenant Debt to Total Assets 35% 34% 35% 35% 35% < 65% Secured Debt to Total Assets 4% 4% 4% 5% 5% < 40% Interest Coverage 510% 517% 524% 532% 540% > 150% Unsecured Debt Ratio (2) 2
Slide 3: Company Highlights and 2026 Guidance
COMPANY HIGHLIGHTS AND 2026 GUIDANCE ▪ Reported Net Income per diluted share for the fourth quarter of 2025 of $1.25, compared to $4.00 in the fourth quarter of 2024. For the full-year 2025, the Company reported Net Income per diluted share of $10.40 compared to $11.54 in 2024. The year-over-year de
Slide 4: Capital Structure & Liquidity Profile
CAPITAL STUCTURE & LIQUIDITY PROFILE $24.3 Billion Total Market Capitalization (1) Debt Composition (1) (2) Secured Secured Debt Fixed Rate Secured 3% 8% Variable Rate 4% Unsecured Unsecured Debt Term Loan 25% 9% Commercial Commercial Paper and Credit Paper and Credit Facility Unsecured Facility Equ
Slide 5: Maturity Schedule
MATURITY SCHEDULE Debt Maturity Schedule (1) 1,200 Debt Maturities in Millions ($) (as of 12/31/2025) 1,000 2 67 800 2 126 600 2 1 99 68 2 850 900 3 400 84 650 600 500 550 200 450 450 330 400 350 350 0 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 Thereafter Unsecured Secured % of Total Deb