Essex Property Trust Prices $200 Million Add-On Offering of its Senior Notes Due 2034 with a Reoffer Yield of 5.110% Seite 1

Essex Property Trust, Inc. (NYSE: ESS) (“Essex”) announced today that its operating partnership, Essex Portfolio, L.P. (the “Issuer”), priced an underwritten public offering of $200 million in
additional senior notes due 2034 with a reoffer yield of 5.110% (the “notes”). The notes will be issued as additional notes under the indenture pursuant to which the Issuer previously issued $350
million of 5.500% senior notes due 2034 (the “initial notes”). The notes will be treated as a single series of securities with the initial notes under the indenture and will have the same CUSIP
number as, and be fungible with, the initial notes. The notes were priced at 102.871% of par value. Interest is payable semiannually at an interest rate per annum of 5.500% on April 1 and October 1
of each year with the first interest payment due October 1, 2024. The notes mature on April 1, 2034. The notes will be the senior unsecured obligations of the Issuer and will be fully and
unconditionally guaranteed by Essex. The notes offering is expected to close on August 21, 2024, subject to the satisfaction of certain closing conditions.

The Issuer intends to use the net proceeds of this offering to repay upcoming debt maturities, including to fund a portion of the repayment of the Issuer’s $500.0 million aggregate principal amount
outstanding of 3.500% senior notes due April 2025 upon maturity thereof, and for other general corporate and working capital purposes. Pending application of the net proceeds from the offering for
the foregoing purposes, such net proceeds initially may be used to repay borrowings outstanding under the Issuer’s unsecured credit facilities and/or invested in short-term securities.

Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, PNC Capital Markets LLC, U.S. Bancorp Investments, Inc., Scotia Capital (USA) Inc. and TD Securities (USA) LLC served as joint book-running
managers for the offering. BofA Securities, Inc., BMO Capital Markets Corp., Mizuho Securities USA LLC and Truist Securities, Inc. served as senior co-managers and Regions Securities LLC and Samuel
A. Ramirez & Company, Inc. served as co-managers for the offering.

The Issuer and Essex have jointly filed a registration statement (including a preliminary prospectus supplement and a prospectus) with the U.S. Securities and Exchange Commission (“SEC”) for the
offering to which this communication relates. You may get these documents for free by searching the SEC online database on the SEC website at http://www.sec.gov. Alternatively, the Issuer, Essex, any underwriter or any dealer participating in the offering will arrange to send you the prospectus supplement and prospectus
if you request it from (i) Wells Fargo Securities, LLC toll free at 1-800-645-3751, (ii) J.P. Morgan Securities LLC collect at 1-212-834-4533, (iii) PNC Capital Markets LLC toll free at
855-881-0697 or (iv) U.S. Bancorp Investments, Inc. toll free at 1-877-558-2607.