Essex Property Trust, Inc. announced the planned retirement of Michael J. Schall, the Company's President since 2011, effective March 31, 2023. Thereafter, Mr. Schall will continue to serve on the Company's Board of Directors and will remain on as apart-time employee. The Board of Directors has appointed Angela L. Kleiman, the Company's Senior Executive Vice President and Chief Operating Officer, to succeed Mr. Schall as President.

Ms. Kleiman also joined the Company's Board of Directors on October 3, 2022 and will assume the role of President on April 1, 2023. Ms. Kleiman has been the Company's Senior Executive Vice President and Chief Operating Officer since January 1, 2021. In this capacity, she accelerated and completed the adoption of the Company's transformative operating platform while also managing the extraordinary challenges posed by the Covid-19 pandemic.

Prior to becoming COO, Ms. Kleiman was Essex's Chief Financial Officer from 2015 to 2020 and was instrumental in the $4billion acquisition and integration of BRE Properties which closed in 2014. Ms. Kleiman joined Essex in 2009 to lead the institutional co-investment program, which more than tripled in size under her leadership, and provided direct experience in all aspects of apartment operations, finance, and portfolio management activities. Prior to joining Essex, Ms. Kleiman was Vice President and SeniorEquityAnalyst at SecurityCapital responsible for over $2billion of REIT investments.