Essential Properties Realty Trust, Inc.

We are an internally managed real estate company that acquires, owns, and manages primarily single-tenant properties. These properties are net leased on a long-term basis to middle-market companies operating service-oriented or experience-based businesses. Our diversified portfolio includes properties leased to tenants in businesses such as car washes, medical and dental services, early childhood education, quick service restaurants, entertainment, automotive services, casual dining restaurants, convenience stores, equipment rental and sales, health and fitness, and grocery. We believe these properties are essential to our tenants' sales and profits and that these businesses have favorable growth potential and are more insulated from e-commerce competition. We completed our initial public offering in June 2018 and qualified as a REIT starting with our taxable year ended December 31, 2018. As of December 31, 2025, 91.5% of our total annualized base rent of $555.0 million came from properties operated by tenants in service-oriented and experience-based businesses. Annualized base rent refers to the annualized contractually specified cash base rent in effect on December 31, 2025, for all our leases commenced as of that date, and annualized cash interest on our mortgage loans receivable as of that date. Our main goal is to maximize stockholder value by generating attractive risk-adjusted returns through owning, managing, and growing a diversified portfolio of commercially desirable properties. We have grown significantly since starting operations and investment activities in June 2016. As of December 31, 2025, our portfolio consisted of 2,300 properties, including one undeveloped land parcel and 150 properties securing our investments in mortgage loans receivable.