Company: EPR-PE
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001193125-25-309969
Chunk: 79

Company: EPR PROPERTIES
Filing Date: 2025-12-05
Form: 424B5
Chunk 79
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 does not deliver an acquiring person statement as required by the MGCL, then the trust may redeem for fair value any or all of the control shares, except those for which voting rights have previously been approved. The right of the trust to redeem control shares is subject to conditions and limitations. Fair value is determined, without regard to the absence of voting rights for the control shares, as of the date of the last control share acquisition by the acquiror or of any meeting of shareholders at which the voting rights of the shares are considered and not approved. If voting rights for control shares are approved at a shareholders meeting and the acquiror becomes entitled to vote a majority of the shares entitled to vote, all other shareholders may exercise appraisal rights. The fair value of the shares as determined for purposes of appraisal rights may not be less than the highest price per share paid by the acquiror in the control share acquisition. The control share acquisition statute of the MGCL does not apply to the following:

| • |     | shares acquired in a merger, consolidation or share exchange if the trust is a party to the transaction; or |

| • |     | acquisitions approved or exempted by a provision in the declaration of trust or bylaws of the trust adopted 
 before the acquisition of shares.                                                                           |

Maryland Unsolicited Takeovers Act Subtitle 8 of Title 3 of the MGCL, known as the “Maryland Unsolicited Takeovers Act,” permits a Maryland corporation (or real estate investment trust) with a class of equity securities registered under the Exchange Act and at least three independent directors (or trustees) to elect to be subject, by provision in its charter or bylaws or a resolution of its board of directors (or board of trustees) and notwithstanding any contrary provision in the charter or bylaws, to any or all of five provisions of the MGCL which provide, respectively, that:

| • |     | the entity’s board of directors (or board of trustees) will be divided into three classes; |

| • |     | the affirmative vote of two-thirds of all of the votes entitled to be                                                    
 cast by shareholders generally in the election of directors (or trustees) is required to remove a director (or trustee); |

| • |     | the number of directors (or trustees) may be fixed only by vote of the directors (or trustees); |

| • |     | a vacancy on the board of directors (or board of trustees) may be filled only by the remaining directors (or                                                                                  
 trustees) and