Market Overview

Essential Properties Realty Trust, Inc. Announces Underwriters' Partial Exercise of Option to Purchase Additional Shares

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Essential Properties Realty Trust, Inc. (NYSE:EPRT, the "Company"))
announced today that the underwriters of the Company's initial public
offering of common stock exercised their option to purchase 2,772,191
shares of common stock pursuant to their option to purchase additional
shares. The Company expects to issue these shares today, July 24, 2018,
subject to customary closing conditions.

The net proceeds from the sale of the option shares are expected to be
approximately $36.5 million, after deducting underwriting discounts. The
Company intends to use the net proceeds for general corporate purposes,
including potential future investments.

Goldman Sachs & Co. LLC and Citigroup Global Markets, Inc. acted as lead
book-running managers for the offering and as representatives of the
underwriters, Barclays, BofA Merrill Lynch and Credit Suisse acted as
joint book-running managers for the offering, and RBC Capital Markets,
SunTrust Robinson Humphrey, Evercore ISI and Ladenburg Thalmann & Co.
Inc. acted as co-managers for the offering. The offering was made only
by means of a prospectus, copies of which may be obtained from: Goldman
Sachs & Co. LLC, via email: prospectus-ny@ny.emails.gs.com;
Citigroup, via telephone: (800) 831-9146 or standard mail: Attention:
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY
11717; or Barclays, via email: barclaysprospectus@broadridge.com,
telephone: (888) 603-5847 or standard mail: c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717.

A registration statement relating to these securities has been filed
with the U.S. Securities and Exchange Commission and has been declared
effective under the Securities Act of 1933, as amended. This press
release does not constitute an offer to sell or a solicitation of an
offer to buy the securities described above, nor shall there be any sale
of such securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state or jurisdiction.

About Essential Properties Realty Trust, Inc.

Essential Properties Realty Trust, Inc. is an internally managed real
estate company that acquires, owns, and manages primarily single-tenant
properties that are net leased on a long-term basis to middle-market
companies operating service-oriented or experience-based businesses. As
of March 31, 2018, the Company's portfolio of 530 properties was 99.1%
occupied by 127 tenants operating 112 different brands, or concepts, in
15 industries across 42 states.

Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of the federal securities laws. In particular, statements
pertaining to the closing of the sale of the option shares and the
Company's use of the net proceeds from such sale are forward-looking
statements. Forward-looking statements involve numerous risks and
uncertainties and you should not rely on them as predictions of future
events. The closing of the sale of the option shares is subject to
customary conditions and may be delayed or may not occur at all. You are
cautioned not to place undue reliance on forward-looking statements,
which speak only as of the date of this press release.

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