Exhibit 99.1

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Essential Properties Announces Second Quarter 2020 Results
- Collected 87% of July Rent -
- Second Quarter Net Income per Share of $0.11 and AFFO per Share of $0.27 -
- Closed Quarterly Investments of $42.4 million at a 7.4% Weighted Average Cash Cap Rate -

August 5, 2020

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, 2020.

Second Quarter 2020 Financial and Operating Highlights

Net income per fully diluted share decreased 21% to $0.11
Funds from Operations (“FFO”) per fully diluted share increased 13% to $0.26
Core Funds from Operations (“Core FFO”) per fully diluted share decreased by 7% to $0.27
Adjusted Funds from Operations (“AFFO”) per fully diluted share remained unchanged at $0.27
Net Debt to Annualized Adjusted EBITDAre was 4.9x at quarter end
Cash and cash equivalents and restricted cash plus available capacity under revolving credit facility of $509.5 million at quarter end
Ended the quarter with a 99.6% leased portfolio with a weighted average lease term (“WALT”) of 14.6 years and a weighted average rent coverage ratio of 3.0x
Raised $17.3 million in gross proceeds from the sale of shares of common stock through the Company’s at-the-market equity program (“ATM Program”)

Year-to-Date 2020 Financial and Operating Highlights

 Invested $209.9 million in 76 properties at a 7.2% weighted average cash cap rate
• Net income per fully diluted share decreased by 4% to $0.26
• FFO per fully diluted share increased 6% to $0.54
• Core FFO per fully diluted share decreased by 2% to $0.56
• AFFO per fully diluted share increased by 2% to $0.56

CEO Comments

Commenting on the second quarter 2020 results, Essential Properties’ President and Chief Executive Officer, Pete Mavoides, said, “The second quarter presented an extremely challenging operating environment in the wake of the COVID-19 pandemic. However, the obstacles we faced paled in comparison to those of our tenants. While we worried about whether or not to grant rent deferral requests and where our collections may land at quarter-end, our tenants were managing through mandatory shutdowns and stay-at-home orders. They confronted the threat of losing multi-generational businesses and the pain of laying off employees in large numbers, only to face the new challenge of quickly and profitability restarting operations without endangering themselves, their employees and their customers. And those complications do not compare to those faced by the front-line workers and emergency responders who have selflessly combated this pandemic, and all of the individuals and families whose health has been directly affected by it. Overall, we feel fortunate with where we are, with how the portfolio has performed, and with our prospects going forward."


The following information was filed by Essential Properties Realty Trust, Inc. (EPRT) on Wednesday, August 5, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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