X0306 4 2019-07-17 0 0001728951 ESSENTIAL PROPERTIES REALTY TRUST, INC. EPRT 0001744219 Eldridge Industries, LLC 600 STEAMBOAT ROAD GREENWICH CT 06830 0 0 1 0 0001744064 EPRT Holdings, LLC 600 STEAMBOAT ROAD GREENWICH CT 06830 0 0 1 0 0001744269 Boehly Todd L 600 STEAMBOAT ROAD GREENWICH CT 06830 0 0 1 0 OP Units 2019-07-17 4 J 0 553847 D Common Stock 553847 17359745 I By EPRT Holdings, LLC OP Units Common Stock 1142960 1142960 I By Security Benefit Life Insurance Company Each OP Unit represents a unit of limited partnership interest in Essential Properties, L.P., the operating partnership through which Essential Properties Realty Trust, Inc. (the "Issuer") conducts its operations. Each OP Unit is redeemable for cash or, at the election of the Issuer, shares of common stock of the Issuer on a one-for-one basis. The OP Units have no expiration date. This transaction represents an in-kind distribution of OP Units of the Issuer by EPRT Holdings, LLC ("EPRT") to certain members of EPRT in exchange for the redemption of such members' interests in EPRT. These OP Units are held directly by EPRT. EPRT is indirectly controlled by Eldridge Industries, LLC ("Eldridge"). Todd L. Boehly, the indirect controlling member of Eldridge, may be deemed to have voting and dispositive power with respect to the OP Units beneficially owned by EPRT and Eldridge. Mr. Boehly disclaims beneficial ownership of the OP Units held by EPRT, except to the extent of his pecuniary interest therein. These OP Units are held directly by Security Benefit Life Insurance Company ("SBL"). Eldridge, as the indirect control person of SBL, is deemed to beneficially own the OP Units held directly by SBL. Todd L. Boehly, the indirect controlling member of Eldridge, may be deemed to have voting and dispositive power with respect to the OP Units beneficially owned by Eldridge. Mr. Boehly disclaims beneficial ownership of the OP Units beneficially owned by Eldridge, except to the extent of his pecuniary interest therein. ELDRIDGE INDUSTRIES, LLC, Name: /s/ Todd Boehly 2019-07-19 EPRT HOLDINGS, LLC, Name: /s/ Anthony D. Minella, Title: Manager 2019-07-19 /s/ Todd L. Boehly 2019-07-19