Company: EPR-PE
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001193125-25-309969
Chunk: 43

Company: EPR PROPERTIES
Filing Date: 2025-12-05
Form: 424B5
Chunk 43
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, consolidation or merger into another entity unless the series remains outstanding and                                                                                                                           
 its terms are not materially and adversely changed or the series is converted into or exchanged for preferred shares having identical terms (except for changes that do not materially and adversely affect the holders of such series); |

| • |     | amend, alter or repeal the provisions of our Declaration of Trust or Bylaws that materially and adversely affects 
 the series of preferred shares;                                                                                   |

| • |     | increase the authorized amount of such series of preferred shares or decrease the authorized amount of such 
 series of preferred shares below the number then issued and outstanding;                                    |

| • |     | authorize, create or increase the authorized or issued amount of any class or series of shares ranking senior to 
 that series of preferred shares;                                                                                 |

| • |     | reclassify any class or series of shares ranking senior to that series of preferred shares or any security or 
 obligation convertible into any class of shares ranking senior to that series of preferred shares; and        |

| • |     | create, authorize or increase the authorized or issued amount of any security or obligation convertible into or 
 evidencing the right to purchase any shares ranking senior to that series of preferred shares.                  |

The authorization, creation, increase or decrease of the authorized amount of any class or series of shares ranking on parity or junior to a series of preferred shares with respect to distribution and liquidation rights, or the issuance of such shares, will not be deemed to materially and adversely affect that series. The foregoing voting provisions will not apply if, at or prior to the time of such amendment, provisions are made for the redemption of all of the outstanding shares of the series of preferred shares with the right to vote. As more fully described under “Description of Depositary Shares” below, if we elect to issue depositary shares, each representing a fraction of a share or multiple shares of a series of preferred shares entitled to vote, each depositary share will in effect be entitled to a fraction of a vote per depositary share. Conversion Rights We will describe in the applicable prospectus supplement or other applicable offering materials the terms and conditions, if any, upon which you may, or we may require you to, convert shares of any series of preferred shares into common shares or any other class or series of securities. The terms will include the number of common shares or other securities into which the preferred shares are convertible, the conversion price (or the manner of determining the conversion price), the conversion period, provisions as to whether conversion