Exhibit 99.1

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Essential Properties Announces Third Quarter 2020 Results
- Collected 91% of October Rent -
- Third Quarter Net Income per Share of $0.13 and AFFO per Share of $0.28 -
- Closed Quarterly Investments of $148.9 million at a 7.1% Weighted Average Cash Cap Rate -

November 4, 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 nine months ended September 30, 2020.

Third Quarter 2020 Financial and Operating Highlights

Net income per fully diluted share decreased 28% to $0.13
Funds from Operations (“FFO”) per fully diluted share increased 11% to $0.30
Core Funds from Operations (“Core FFO”) per fully diluted share decreased by 3% to $0.30
Adjusted Funds from Operations (“AFFO”) per fully diluted share decreased by 3% to $0.28
Net Debt to Annualized Adjusted EBITDAre was 4.0x at quarter end
Cash and cash equivalents and restricted cash plus available capacity under revolving credit facility of $589.4 million at quarter end
Ended the quarter with a 99.4% leased portfolio with a weighted average lease term (“WALT”) of 14.6 years and a weighted average rent coverage ratio of 2.8x
Raised $219.6 million in gross proceeds from the sale of shares of common stock through a follow-on equity offering and the Company’s at-the-market equity program (“ATM Program”)

Year-to-Date 2020 Financial and Operating Highlights

    Invested $358.7 million in 126 properties at a 7.2% weighted average cash cap rate
•    Net income per fully diluted share decreased by 13% to $0.39
•    FFO per fully diluted share increased by 8% to $0.84
•    Core FFO per fully diluted share decreased by 2% to $0.86
•    AFFO per fully diluted share remained unchanged at $0.84

CEO Comments

Commenting on the third quarter 2020 results, Essential Properties’ President and Chief Executive Officer, Pete Mavoides, said, “We were pleased that as we begin to recover from the significant disruption caused by the pandemic the vast majority of our tenants, representing approximately 99% of our cash ABR, were able to re-open their businesses. Our rent collection experience has improved markedly since the onset of the pandemic, reaching 90% for the third quarter and, most recently, 91% for October 2020, which reflects our tenants' ability to return to their operations and, we believe, the quality and durability of our portfolio and our middle market tenant base.” Mr. Mavoides added, “With the improved visibility into the performance of our tenants' businesses and the trajectory of rent collections, we are pleased to be able to return to our growth strategy, completing nearly $150 million of investments in the quarter, at a weighted-average cash cap rate of 7.1%.”



The following information was filed by Essential Properties Realty Trust, Inc. (EPRT) on Wednesday, November 4, 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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