Early Items

Starting Items

I start with a Doran's Blade for the attack damage and the lifesteal. Mystic Shot will scale with the attack damage and the lifesteal will help you recover health after trades.

Doran's Ring is another option. This will provide greater mana recovery, but lacks the lifesteal. I would recommend not going this route unless you are sure you can avoid taking damage in lane.

First Back

Tear of the Goddess is the first item I will go back for. If possible you can also buy Boots at this time as well. Unfortunately any build involving the Tear of the Goddess will reduce your effectiveness early in the match. Gold that could be spent on more attack damage is used on an item that does not directly increase damage output. Looking closer at the Tear of the Goddess, we see that the one area that it will help us in is increasing the mana pool. To take advantage of this, you can try to poke as frequently as possible, either the enemy laner will play passive, or you can whittle them down enough to finish them off.

Second back

As with many Ezreal builds, Sheen is the first item of any impact to your damage output. Mystic Shot will apply the on-hit effects of sheen. At this time I also consider investing in a Long Sword or Ionian Boots of Lucidity depending on my wealth and how the laning phase is going.

First item

The first item I will finish is Trinity Force. Individually the stats on this item are not too tempting, but together they work well with this build. We'll look at this more closely soon, but the main gem of this item is the spellblade passive. If you haven't already bought them, now is the time to look at some Ionian Boots of Lucidity.

Manamune or Cutlass?

vs.

At this point in the match damage must be considered. If my Tear of the Goddess has less than 500 stacks I consider Bilgewater Cutlass to be a better buy, for the active and the lifesteal. If the Tear of the Goddess is closer to being complete, I will attempt to finish my Manamune.

In depth look at Items/Interaction with Muramana

Muramana

Muramana will likely be the second item you finish, but it is listed first because I want to explain why this build is built around it. This item only provides 25 AD and 1000 mana looking at its raw stats, but the passives make this item worthwhile. You will notice a definite spike in killing power once the Manamune becomes Muramana. The unique passive- Awe gives bonus attack damage equal to 2% of maximum mana. With this build you should have roughly 2720 mana at lvl 18. So this item will provide an additional 54 AD. The unique passive- Shock allows single target spells and attacks to against champions to use 3% of your current mana to deal twice that amount in bonus physical damage. This effect will trigger with Ezreal's auto attack, Mystic Shot and Arcane Shift. Given the earlier mentioned value of 2720 mana, at full mana each of these will do an additional 163 physical damage. Shock is the passive that will interact with most of the items in this build and it is the reason this hybrid build is able to work so well.

Trinity Force

Trinity Force is the first item that you will be finishing. While also not contributing much attack damage, this item provides 20% CDR, and 250 mana among other stats. The unique passive- Spellblade is also present but provides 200% base AD as bonus damage. It is important to note that Sheen scales off of your base attack damage, not your bonus AD or total AD. Ezreal's base attack damage is 53.25 + (lvl*2.41) or 96.6 at lvl 18. My hopes of banishing Trinity force It is because of the fact that Spellblade scales off of base AD and not total or even bonus AD that I am hoping to replace this item with something else in the future, something that has more AD and can scale up Ezreal's abilities. The 20% CDR will need to be maintained. As far as damage from Mystic Shot is concerned, trinity force provides 25 AD + 5 AD (from Awe) = 33 physical damage + 15 physical damage (from shock + 193 physical damage from Spellblade at lvl 18. The spellblade passive is hard to beat, but when looking at the damage of all the other abilities with Trinity Force, there can definitely be better alternatives, So I will be testing for an item that can take the place of Trinity Force; sacrificing some damage from Mystic Shot to allow all the other abilities to scale better or provide more utility. For now though, Trinity Force remains my best option.

Hextech Gunblade

Hextech Gunblade should be your third item. This item provides a decent amount of attack damage and ability power. Build the Bilgewater Cutlass first when making this item. The lifesteal and extra AD are needed. The passive will make you much harder to kill as it heals for 15% of the damage dealt. (Note: this is not technically lifesteal, and I believe it is not affected by Vampirism . Don't forget to use the unique active- Lightning bolt, This not only provides a nice burst of extra damage, but it also slows the target.

Ionian Boots of Lucidity

Ionian Boots of Lucidity are my boots of choice because of the CDR. Other options could include Berserker's Greaves, Sorcerer's Shoes (Don't forget that 3 of your 4 abilities deal magic damage), or Boots of Swiftness (for those that rely heavily on kiting).

Rod of Ages

Rod of Ages provides yet another noticeable spike in power. Buy Catalyst of Aeons first when building this item. Now we will look at how Rod of Ages synergies with this Ezreal build. 500 health at full stacks giving Ezreal a little bit more beefiness than he is used to. 400 mana which contributes +8 AD from awe and 24 physical damage from shock. 100 AP which scales with all of Ezreal's abilities. Unique passive: Eternity. This provides Ezreal with amazing amounts of sustain. Eternity will refund 20% of any mana spent as health. This passive is good on anyone, but when combined with Muramana the benefit is even greater. Consider casting Mystic Shot, Ezreal would spend 121 mana instead of the normal 40 with shock providing 24 health per shot instead of 8, now consider the fact that in a fight, Ezreal would cast his abilities quite frequently as well as proc shock from auto attacks. This results in an Ezreal that is quite hard to kill while allowing him to fight in the poke-like manner he does. Unfortunately you will notice that Rod of Ages is being built pretty late into the game. and you will likely hit late game before it is fully charged. I still find it viable and the Eternity passive is worth it while you wait for the extra 40 AP and 100 mana.

Infinity Edge

Infinity Edge has no special interactions with Muramana it is simply considered for the raw stats. Feel free to substitute this item out and let me know in the comments what works for you.

Iceborn Gauntlet

Iceborn Gauntlet takes advantage of the Spellblade passive, but at half the damage. This item provides some armor, CDR, and 500 mana. The passive that makes this item unique is the field that spellblade creates. It will make kiting much easier, but your attack speed and damage will take a very considerable hit.

Blade of the Ruined King

Blade of the Ruined King is an alternative to the Hextech Gunblade in terms of sustain. It will be affected by Vampirism , and excels at taking down tanky enemies. Consider this against a really tanky enemy, though usually I don't bother, since 3 of your abilities do magic damage, and Mystic Shot and your auto attacks deal physical damage, you can deal with most tanks or just Arcane Shift away. Do take this item if you are considering Iceborn Gauntlet to make up for the attack speed you're losing from Trinity Force.

Closer look at abilities with the contribution of the items

Muramana

Trinity Force

Hextech Gunblade

Infinity Edge

Rod of Ages

Hextech Gunblade

Auto Attacks

Ezreal's auto attacks will deal his total AD + 6% current mana in physical damage from shock (at the cost of 3% current mana). At level 18 with 100% mana, an auto-attack would deal 310.6 + 163 physical damage, deacreasing as his mana decreases.

Mystic Shot

Mystic Shot scales with 1.1 AD and 40% AP. At lvl 18 with 100% mana and Spellblade passive against an enemy champion, this ability will deal 115 + (1.1*310.6 AD) + (.4*180 AP) + 193(from spellblade + 163 (from shock) for a total of 884.66 physical damage.

Essence Flux

Essence Flux scales with 80% AP. At level 18, this ability will deal 250 + (.8 * 180 AP) for a total of 394 magic damage as well as speeding up the attack speed of any allies it hits.

Arcane Shift

Arcane Shift scales with 50% bonus attack damage and 75% AP. At lvl 18 with 100% mana against an enemy champion, this ability will deal 275 + (0.5 * 214 AD) + (0.75 * 180 AP) for a total of 517 magic damage + 163 physical damage from shock.

Trueshot Barrage

Trueshot Barrage scales with 100% bonus attack damage and 90% ability power. At lvl 18 hitting only one enemy, this will deal 650 + (1.0 * 214 bonus AD) + (0.9 * 180 AP) for a total of 1026 magic damage.

Conclusion

Fervor of Battle

• Trinity Force is your first item. The Spellblade passive scales off of base attack damage, and is therefore unaffected by your lack of bonus AD at this point in the game. Similarly you cannot benefit it further by adding more AD. Can be replaced by Iceborn Gauntlet, but I find that it isn't worth it by the end of the game.
• Ionian Boots of Lucidity are my choice for boots given the cooldown reduction. Other boots can be used in their place though, the choice is yours to make.
• Muramana-This is the item that ties this build together making use of all the extra mana you've been buying.
• Hextech Gunblade- This is your main first of two sustain items, providing attack damage and ability power, and none of it is going to waste on Ezreal. Can be replaced by Blade of the Ruined King.
• Rod of Ages is your second sustain item. It also provides a lot of ability power and mana for shock and awe. If you find yourself dying to a teemo shroom, just keep casting spells and pray that Eternity is enough.
• Infinity Edge is the last item and is chosen for its damage and critical chance. Experiment with other items and let me know in the comments what works for you.