Essex Property Trust — Q1 2023 Earnings Presentation

5 slides from Essex Property Trust's earnings presentation, Apr 28, 2023

Slide 1: First Quarter 2023 Credit Update
BELLA VILLAGIO 231 Apartment Homes San Jose, CA FIRST QUARTER 2023 CREDIT UPDATE
Slide 2: Selected Ratios & Credit Ratings
SELECTED RATIOS & CREDIT RATINGS Public Bond Covenants(1) & Selected Credit Ratios Q1 ’23 Q4 ’22 Q3 ’22 Q2 ’22 Q1 ‘22 Covenant Debt to Total Assets 34% 34% 35% 34% 34% < 65% Secured Debt to Total Assets 3% 3% 4% 4% 4% < 40% Interest Coverage 585% 579% 567% 553% 528% > 150% Unsecured Debt Ratio (2) 2
Slide 3: First Quarter 2023 Highlights
FIRST QUARTER 2023 HIGHLIGHTS ▪ Reported Net Income per diluted share for the first quarter of 2023 of $2.38, compared to $1.12 in the first quarter of 2022. The increase is largely attributable to the gain on sale of real estate and land recognized in the first quarter of 2023. ▪ Grew Core FFO per
Slide 4: Capital Structure & Liquidity Profile
CAPITAL STUCTURE & LIQUIDITY PROFILE $19.8 Billion Total Market Capitalization (1) Debt Composition (1) (2) Secured Credit Secured Debt Facility Fixed Rate Secured 3% ~0% 6% Variable Rate Unsecured 4% Debt 27% Equity Credit 70% Unsecured Facility Bonds ~0% 90% Secured Liquidity Profile ($M) 10% 4/26
Slide 5: Maturity Schedule
MATURITY SCHEDULE Debt Maturity Schedule (1) 1,200 Debt Maturities in Millions ($) (as of 3/31/2023) 1,000 800 2 2 2 95 600 133 68 1 3 99 400 154 2 650 550 600 600 500 450 450 500 200 400 350 300 32 0 (2) 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Thereafter % of Total Debt Maturing/Year