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Financial Data and Key Metrics Changes - The company reported an AFFO per share of $0.46, representing a 7% increase compared to Q2 2024 [19] - Total AFFO for the quarter was $93 million, up 21% from the same period in 2024 [19] - General and administrative expenses increased to $10.7 million from $8.7 million year-over-year, primarily due to increased compensation expenses [20] - The company declared a cash dividend of $0.30, resulting in an AFFO payout ratio of 65% [20] - Income-producing gross assets reached $6.6 billion at quarter end [21] Business Line Data and Key Metrics Changes - The company invested $334 million in the second quarter at a weighted average cash yield of 7.9% [6][11] - The weighted average lease term for new investments was 19.5 years, with a weighted average annual rent escalation of 2.2% [11] - The portfolio ended the quarter with investments in 2,190 properties leased to over 400 tenants, with a weighted average lease term of 14 years [9] - Same store rent growth was reported at 1.4%, with occupancy at 99.6% [14] Market Data and Key Metrics Changes - The company closed $642 million of investments in the first half of the year and increased its full-year investment guidance range to $1 billion to $1.2 billion [8][9] - The weighted average unit level coverage ratio was 3.4 times, indicating strong profitability and cash flow generation by tenants [10] - The company sold 23 properties for $46.2 million in net proceeds during the quarter, with an average cash yield of 7.3% [17] Company Strategy and Development Direction - The company focuses on middle market sale leasebacks with growing operators in targeted industries, emphasizing the value of recurring business with its tenant base [6][8] - The management anticipates that competition may increase as capital markets normalize, leading to potential cap rate compression [8] - The company aims to maintain a well-capitalized balance sheet with low leverage and significant liquidity to support external growth [23] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the operating environment, noting favorable conditions for sourcing attractive investment opportunities [6] - The company is increasing its 2025 AFFO per share guidance to a range of $1.86 to $1.89, reflecting an 8% growth at the midpoint [23] - Management highlighted strong portfolio performance and healthy tenant credit trends, with no major concerns emerging in the credit landscape [71] Other Important Information - The company raised approximately $119 million of equity through its ATM program during the quarter [21] - The pro forma net debt to annualized adjusted EBITDA was 3.5 times at quarter end [23] Q&A Session Summary Question: What is preventing the company from leaning more into acquisitions despite a strong pipeline? - Management indicated they are leaning strongly into acquisitions but are conservative in guidance due to limited visibility on the pipeline [30] Question: Can you provide an update on occupancy and the quantum of assets in the vacancy bucket? - Management noted a slight increase in vacancy with nine properties out of 2,190, primarily in the restaurant space, and emphasized strong forward indicators of risk [31][32] Question: What are the expectations regarding competition and cap rates? - Management expects competition to increase as substantial capital has been raised for net lease investments, which may impact transaction markets [39][40] Question: Can you elaborate on the acquisition of the Whistle car wash portfolio? - Management explained that the acquisition was part of a strategy to manage industry concentration and that the portfolio had strong lease economics [58][61] Question: How does the company view the current credit environment? - Management expressed confidence in the stability of cash flows and tenant performance, with no major concerns emerging [71] Question: What is the company's strategy regarding future debt capital? - Management indicated a preference for the bond market as a long-term source of permanent debt capital, while remaining opportunistic in the current market [125][126]

Financial Data and Key Metrics Changes - The company reported an AFFO per share of $0.46, representing a 7% increase compared to Q2 2024 [18] - Total AFFO for the quarter was $93 million, up 21% from the same period in 2024 [18] - General and administrative expenses increased to $10.7 million from $8.7 million year-over-year, primarily due to increased compensation expenses [19] - The company declared a cash dividend of $0.30, resulting in an AFFO payout ratio of 65% [19] - Income-producing gross assets reached $6.6 billion at quarter end [20] Business Line Data and Key Metrics Changes - The company invested $334 million in the second quarter at a weighted average cash yield of 7.9% [11] - The investment activity was broad-based across most top industries, with a weighted average initial lease term of 19.5 years and a weighted average annual rent escalation of 2.2% [11] - Same store rent growth was reported at 1.4% with an occupancy rate of 99.6% [14] Market Data and Key Metrics Changes - The company closed $642 million of investments in the first half of the year and increased its full-year investment guidance range to $1 billion to $1.2 billion [8] - The weighted average lease term remained at 14 years, with 4.9% of annual base rent expiring over the next five years [8] Company Strategy and Development Direction - The company focuses on middle market sale leasebacks with growing operators in targeted industries, emphasizing the importance of recurring business with its tenant base [6] - The company expects investment cap rates to trend lower in 2025 due to anticipated competition as capital markets normalize [7] - The company aims to maintain a well-capitalized balance sheet with low leverage and significant liquidity to support external growth [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operating environment, noting strong tenant credit trends and healthy same store rent performance [6] - The company remains optimistic about its investment pipeline and the overall performance of its portfolio [24] - Management indicated that while competition may increase, the company continues to have ample opportunities and a strong capital position [36] Other Important Information - The company sold 23 properties for $46.2 million in net proceeds during the quarter, highlighting the importance of owning liquid properties [16] - The company has a weighted average unit level coverage ratio of 3.4 times, indicating strong profitability and cash flow generation by its tenants [9] Q&A Session Summary Question: What is preventing the company from leaning more into acquisitions? - The company is leaning strongly into acquisitions but maintains conservative guidance due to limited visibility on the pipeline [26][28] Question: Can you provide an update on occupancy and the quantum of assets in the vacancy bucket? - The company has nine properties out of 2,190 that are vacant, with an average property value of $3 million [29][30] Question: What are the expectations for competition impacting cap rates? - The company expects competition to eventually impact the transaction market, but currently has a strong opportunity set [36][37] Question: Can you elaborate on the acquisition of the Whistle car washes portfolio? - The company managed its car wash exposure while acquiring well-established sites with strong lease coverage [54][56] Question: How does the company view the credit side of its portfolio? - The company sees stability in cash flows and no major concerns emerging from its operators [64] Question: What are the characteristics the company looks for in convenience store investments? - The company seeks well-positioned convenience stores with strong inside store sales and stable corporate credit [102][103]

Investor Presentation and Supplemental Information 146, 204, 238 Second Quarter 2025 Disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements can be identified by the use of words such as "expect," "plan," "will," "estimate," "project," "intend," "believe," "guidance," and other similar expressions that do not relate to historical matters. These forward-looki ...

Core Viewpoint - Essential Properties (EPRT) reported quarterly funds from operations (FFO) of $0.46 per share, which missed the Zacks Consensus Estimate of $0.47 per share, representing an FFO surprise of -2.13% [1] Financial Performance - The company posted revenues of $137.06 million for the quarter ended June 2025, exceeding the Zacks Consensus Estimate by 2.92%, compared to $109.27 million in the same quarter last year [2] - Over the last four quarters, the company has not surpassed consensus FFO estimates, but it has topped consensus revenue estimates three times [2] Stock Performance - Essential Properties shares have declined approximately 1.3% since the beginning of the year, while the S&P 500 has gained 7.3% [3] - The current consensus FFO estimate for the upcoming quarter is $0.48 on revenues of $138.26 million, and for the current fiscal year, it is $1.91 on revenues of $543.84 million [7] Industry Outlook - The REIT and Equity Trust - Retail industry is currently ranked in the bottom 37% of over 250 Zacks industries, indicating potential challenges for stocks in this sector [8]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________________________________________________________________________ FORM 10-Q _____________________________________________________________________________________________________________ (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 1 ...

Exhibit 99.1 Essential Properties Announces Second Quarter 2025 Results PRINCETON, N.J.--(BUSINESS WIRE)--Essential Properties Realty Trust, Inc. (NYSE: EPRT; "Essential Properties" or the "Company") today announced operating results for the three and six months ended June 30, 2025. Second Quarter 2025 Financial and Operating Highlights: | Operating Results (compared to Second Quarter 2024): | | | | --- | --- | --- | | • Investments (77 properties) | $ Invested | $334.0 million | | | Weighted Avg Cash Cap R ...

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Group 1 - The investment approach has received over 500 five-star reviews from members who are experiencing benefits [1] - The company invests over $100,000 annually and dedicates thousands of hours to research profitable investment opportunities, particularly in real estate strategies [1] - REITs have been in a bear market for the past three years, indicating a challenging environment for real estate investment trusts [1] Group 2 - Jussi Askola, the President of Leonberg Capital, is recognized for his expertise in REIT investing and has authored award-winning academic papers on the subject [1] - The investing group High Yield Landlord offers features such as three portfolios (core, retirement, international), buy/sell alerts, and direct access to analysts for real-time transactions [1]

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements can be identified by the use of words such as "expect," "plan," "will," "estimate," "project," "intend," "believe," "guidance," and other similar expressions that do not relate to historical matters. These forward-looking statements are subject to known and unknown risks and uncertainties that can cause actual res ...