ESSEX PORTFOLIO LP

Unregistered Sales of Equity Securities; Essex Portfolio, L.P.

During the three months ended June 30, 2025, the Operating Partnership issued OP Units in private placements in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act, in the amounts and for the consideration set forth below:

During the three months ended June 30, 2025, Essex issued an aggregate of 45,768 shares of its common stock upon the exercise of stock options, the vesting of restricted stock awards, and the exchange of OP units by limited partners or members into shares of common stock. Essex contributed the net proceeds of $2.9 million from the option exercises during the three months ended June 30, 2025 to the Operating Partnership in exchange for an aggregate of 13,418 OP Units, as required by the Operating Partnership’s partnership agreement. Furthermore, for each share of common stock issued by Essex in connection with vesting of restricted stock awards and the exchange of OP Units, the Operating Partnership issued OP Units to Essex, as required by the partnership agreement. During the three months ended June 30, 2025, 32,350 OP Units were issued to Essex pursuant to this mechanism.

Stock Repurchases

In September 2022, the Company announced that its Board of Directors approved a stock repurchase plan, without an expiration date, to allow the Company to acquire shares of common stock up to an aggregate of $500.0 million. During the three months ended June 30, 2025, the Company did not repurchase any shares. As of June 30, 2025, the Company had $302.7 million of purchase authority remaining under the stock repurchase plan.