Company: EPR-PE
Filing Date: 2025-06-03
Form Type: S-3ASR
Source: 0001193125-25-134116
Chunk: 37

Company: EPR PROPERTIES
Filing Date: 2025-06-03
Form: S-3ASR
Chunk 37
---
 payment date or Purchase Date, or sale date, as appropriate.                                                                                                                                                      |

| • |     | We may not be able to pay dividends. In order to qualify as a REIT, we must distribute to our shareholder 
 at least 90% of our REIT taxable income each year. This distribution requirement limits                   |

26

| our ability to maintain future dividend payments if earnings decline. The requirements to qualify for REIT tax status are complex and technical, and we may not be able to qualify for reasons 
 beyond our control. If we are unable to qualify for REIT tax status, then we may not be able to make distributions to our shareholder.                                                         |

| • |     | You will not earn any interest on your dividends or cash pending investment. No interest will be paid on 
 dividends, cash or other funds held by the Plan Administrator pending investment or disbursement.        |

| • |     | The market price for our common shares varies, and you should purchase shares for long-term investment                                                                                                                                                   
 only. Although our common shares currently are traded on the NYSE, we cannot assure you that there will, at any time in the future, be an active trading market for our common shares. Even if there is an active trading market for our common          
 shares, we cannot assure you that you will be able to sell all of your shares at one time or at a favorable price, if at all. As a result, you should participate in the Plan only if you are capable of, and seeking, to make a long-term investment in 
 our common shares.                                                                                                                                                                                                                                       |

Other important factors and risks are identified in section of this prospectus titled “Risk Factors.” You are encouraged to review these risk factors carefully. 27

USE OF PROCEEDS

Unless otherwise indicated by us from time to time, we intend to use the net proceeds from any sale of common shares for general business
purposes, which may include funding the acquisition, development or financing of properties and repayment of debt. We have no basis for estimating either the number of common shares that will be ultimately purchased directly from us, if any, under
the Plan or the prices at which such common shares will be sold. If the Plan Administrator purchases common shares in the open market under the Plan, we will not receive any proceeds.

28

DESCRIPTION OF COMMON SHARES The following description of our common shares is only a summary and is subject to, and qualified in its entirety by reference to, the provisions governing such shares contained in our Declaration of Trust and