Company: EPR-PE
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001193125-25-309969
Chunk: 15

Company: EPR PROPERTIES
Filing Date: 2025-12-05
Form: 424B5
Chunk 15
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 Section 1032 of the Code, generally, no gains and losses are recognized by a corporation in dealing in its own shares, including pursuant to a “securities futures
contract,” as defined in the Code by reference to the Exchange Act. Although we believe that any amount received by us in exchange for our common shares would qualify for the exemption under Section 1032 of the Code, the U.S. federal
income tax treatment of any cash settlement payment we receive is uncertain. In the event that we recognize a significant gain from the cash settlement of a forward sale agreement, we might not be able to satisfy the gross income requirements
applicable to REITs under the Code. In that case, we may be able to rely upon the relief provisions under the Code in order to avoid the loss of our REIT status. Even if the relief provisions apply, we will be subject to a 100% tax on the greater of
(i) the excess of 75% of our gross income (excluding gross income from prohibited transactions) over the amount of such income attributable to sources that qualify under the 75% test or (ii) the excess of 95% of our gross income (excluding
gross income from prohibited transactions) over the amount of such gross income attributable to sources that qualify under the 95% test, as discussed in the accompanying prospectus under “U.S. Federal Income Tax Considerations,”
multiplied in either case by a fraction intended to reflect our profitability. In the event that these relief provisions were not available, we could lose our REIT status under the Code.

We may enter into forward sale transactions that are not part of the offering contemplated by this prospectus supplement, all of which subject us to risks similar to those described above.

We may enter into forward sale transactions in connection with public offerings or other transactions other than the offering
contemplated by this prospectus supplement and the accompanying prospectus. Those forward sale transactions also may subject us to risks that are substantially similar to the risks described above.

S-11

Use of proceeds

We intend to use any net proceeds from the sale of our common shares to or through Sales Agents and upon settlement of any forward sale agreement, in each case, for
general corporate purposes, including, without limitation, funding our ongoing pipeline of acquisition and build-to-suit projects, working capital and the reduction,
from time to time, of our outstanding indebtedness, including borrowings under our unsecured revolving credit facility. Pending application of any portion of the net proceeds