ESSEX PROPERTY TRUST, INC.

Essex Property Trust is a West Coast-focused REIT that owns and operates apartment communities in supply-constrained markets, primarily in California and the Seattle area, generating revenue through rental income from its portfolio of properties. The company strategically acquires, develops, and manages apartment communities in high-demand metropolitan markets where development is limited by regulatory barriers and geographic constraints, emphasizing above-average rental growth and long-term asset appreciation through professional management and capital improvements. Essex also generates additional income through co-investment partnerships, earning management and development fees, while maintaining a disciplined, data-driven approach to portfolio allocation that adjusts to market cycles and valuation opportunities.