April 30, 2012Fisher Center Real Estate

Conference

ESSEX PROPERTY TRUST, INC.

About Essex Property Trust

Seattle 17% of NOI

Northern CA 33% of NOI

Southern CA 50% of NOI

Multifamily REIT Supply-constrained coastal markets in California

and Washington 160 properties containing +32,900 units $8.0 billion total market capitalization(1)

Strategy Drive rent growth on high occupancy Add value through redevelopment Acquire and develop West Coast properties with

above-average growth characteristics Maintain strong balance sheet and financial

flexibility

(1) As of 4/24/12.2

Rents and NOI Accelerating

Now approaching pre-recession rent levels Only Northern California rents are above prior peak

1Q11 2Q11 3Q11 4Q110.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0% 10.9%

Same-Property NOI (Year-over-Year)

ESS Peer Average

Source: Peer group includes 11 multifamily REITs

3

Northern California and Seattle continue to outperform Southern California continues slow-steady recovery

ESS EQR AVB CPT UDR PPS BRE CLP AIV MAA HME0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

8.0%

2012 Estimated Same-Property NOI Growth

Essex Projected to Lead NOI Growth in 2012

Avg. 6.5%

Source: Midpoint of Company disclosures. Represents year-over-year growth.

4

Essex Expects 28% Rent Growth Over the Next 5 Years

Strong Job Growth Tech jobs leading

Favorable Demographics Strong Demand From Echo Boomers (age 20-34) – the key renter cohort

Rents Rebound from Recessionary Lows Rents declined further and recovered later relative to other major U.S. metros

Low Housing Supply Below 1% annual addition to residential stock

Headwinds to Homeownership High cost of for-sale housing in coastal areas Lending standards tightened

5

Jan-

11

Feb-

11

Mar

-11

Apr-

11

May

-11

Jun-

11

Jul-1

1

Aug-

11

Sep-

11

Oct

-11

Nov-

11

Dec-

11

Jan-

12

Feb-

12

Mar

-120.0%

0.2%0.4%0.6%0.8%1.0%1.2%1.4%1.6%1.8% California vs US: Year-over-Year Job Growth

California US

California population growth has outperformed the U.S. average for the last 3 years

California job growth now exceeding the US average

Favorable Population and Job Trends in California

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 20110.0%0.2%0.4%0.6%0.8%1.0%1.2%1.4%1.6%

Population Growth: California vs U.S.

California USSource: US Census

CA Outperforms

Source: BLS 6

San

Jose

Salt

Lake

City

Hous

ton

San

Fran

cisco

Fort

Wor

th

Austi

n

Seatt

le

Phoe

nix

Denv

er

Mia

mi

Dalla

s

Ora

nge

Coun

ty

Nass

au-S

uffol

k, N

Y

Oak

land

US A

vera

ge

New

Yor

k PM

SA

Balti

mor

e

Was

hing

ton

D.C.

Atla

nta

Chica

go

Min

neap

olis

Port

land

Los A

ngel

es

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

Job Growth - NOT Evenly Distributed

Job growth in many Essex markets outpaces U.S. average LA job growth improving and expected to be 1% in 2012

% Job Growth: March Year-Over-Year

Source: BLS Essex Markets Other Markets

7

Favorable Demographic Factors

Echo Boomers will Drive Demand (Higher Propensity to Rent)

Source: U.S. Census Bureau and Green Street Advisors.

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

E

2013

E

2014

E

2015

E

2016

E

2017

E

2018

E

2019

E

2020

E

54,000

56,000

58,000

60,000

62,000

64,000

66,000

68,000

Population Age 20-34 Years Old

8

Las V

egas

Phoe

nix

Orla

ndo

Atla

nta

Inla

nd E

mpi

re

Hous

ton

Austi

n

Dalla

s-Ft

. Wor

th

Denv

er

Mia

mi/F

t. La

uder

dale

Port

land

Was

h. D

.C.

Chica

go

Balti

mor

e

Phill

y

Nass

au-S

uffol

k

Bost

on

New

Yor

k

Seatt

le

San

Dieg

o

Oak

land

Vent

ura

ESSE

X Po

rtfol

io

Ora

nge

San

Jose

Los A

ngel

es

San

Fran

cisco-0.5%

0.0%0.5%1.0%1.5%2.0%2.5%3.0%3.5%4.0%4.5%

Single Family Permits as % of 2010 Stock: 5 Year Average (2003 to 2007) vs 2011

2011 5 Year Average: '03 to '07

Supply: For-Sale Supply Risk Low

Source: U.S. Census

Essex Portfolio

9

Essex Markets are Renter Markets

Source: US Census

LA/O

rang

e

San

Dieg

o

San

Fran

cisco

San

Jose

Seatt

le

Natio

nal A

vg.30%

35%

40%

45%

50%

55%

60%

65%

70%

50.1%

55.2% 56.1%

60.5% 60.7%

66.0%

Q4 2011 Homeownership Rates

ESS Market ESS Average

Low homeownership rates compared to the national average due to unaffordable single family housing = more renters and better ability to increase rents

10

Seattle Market Review

Strong job growth in 2011 from Technology and Manufacturing sectors Expect above-average job growth for the next several years with limited new supply

'94

'95

'96

'97

'98

'99

'00

'01

'02

'03

'04

'05

'06

'07

'08

'09

'10

'11

'12f

'13f

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

Jobs Supply Population

Job Growth vs. Total Residential Supply (% change)

Source: US. Census, BLS, Essex Property Trust11

'94

'95

'96

'97

'98

'99

'00

'01

'02

'03

'04

'05

'06

'07

'08

'09

'10

'11

'12f

'13f

-10.0%

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

Jobs Supply Population

Northern California Market Review (San Jose MSA)

Above-average job growth in 2011 driven by Technology and Bio-Med Science sectors Job growth expected to remain robust over the next 2 years while supply remains muted

Job Growth vs. Total Residential Supply (% change)

Source: US. Census, BLS, Essex Property Trust12

Job growth improved in 2011 and is expected to be 1% in 2012 Government and construction job losses abating Office net absorption picking up

'94

'95

'96

'97

'98

'99

'00

'01

'02

'03

'04

'05

'06

'07

'08

'09

'10

'11

'12f

'13f

-7.0%

-5.0%

-3.0%

-1.0%

1.0%

3.0%

Jobs Supply Population

Southern California Market Review (Los Angeles MSA)

Job Growth vs. Total Residential Supply (% change)

Source: US. Census, BLS, Essex Property Trust13

Safe Harbor Disclosure

Certain statements in this presentation, which are not historical facts, may be considered forward-looking statements within the meaning of the federal securities laws. The forward looking statements, some of which can be identified by terms and phrases such as “forecast”, “estimate”, “expect”, “anticipate”, “should”, “could”, “may”, and similar expressions, reflect the current views of Essex Property Trust, Inc. (“Essex” or the “Company”) and its affiliates with respect to future events and are subject to risks and uncertainties. Such forward-looking statements involve the risk that actual results could be materially different from those described in such forward-looking statements. Factors that could cause actual results to be materially different are discussed under the caption “Risk Factors” in Item 1A of the Company’s Report on Form 10-K for the year ended December 31, 2011. All forward-looking statements and reasons why results may differ included in this presentation are made of the date hereof, and we assume no obligation to update any such forward-looking statements or reasons why actual results may differ.

14

For additional information, please contact the Company’s Investor Relations department at (650)

849-1600.

Fourth & U – Berkeley, CA

416 on Broadway – Glendale, CA Joule – Seattle, WA

Via – Sunnyvale, CA Axis 2300 – Irvine, CA

Arbors at Park Rose – Oxnard, CA