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Essex Announces its 27th Consecutive Annual Dividend Increase

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Establishes Record Date for the Annual Shareholders' Meeting

Essex Property Trust, Inc. (NYSE:ESS) announced today that its Board of Directors has approved a $0.05 per share increase to its annual cash dividend. This represents the 27th consecutive annual dividend increase. The Board of Directors has declared a first quarter dividend of $2.09 per share, payable on April 15, 2021 to shareholders of record as of March 31, 2021. On an annualized basis, the dividend represents a distribution of $8.36 per common share.

The Annual Meeting of Shareholders will be held virtually on Tuesday, May 11, 2021 at 1:00 p.m. pacific time. Shareholders of record as of February 26, 2021 will be entitled to vote at the meeting. Further information regarding how to access and vote at the virtual Annual Meeting will be contained in the proxy materials to be filed with the U.S. Securities and Exchange Commission.

About Essex Property Trust, Inc.

Essex Property Trust, Inc. ("Essex"), an S&P 500 company, is a fully integrated real estate investment trust ("REIT") that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 246 apartment communities with an additional 6 properties in various stages of active development. Additional information about Essex can be found on the Company's website at www.essex.com.

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