Company: EPR-PE
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001193125-25-309969
Chunk: 81

Company: EPR PROPERTIES
Filing Date: 2025-12-05
Form: 424B5
Chunk 81
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 shares, including additional classes of 
 shares with rights defined at the time of issuance, without shareholder approval.                            |

42

U.S. FEDERAL INCOME TAX CONSIDERATIONS The following discussion summarizes the material United States (“U.S.”) federal income tax considerations regarding EPR and the acquisition, ownership and disposition of our securities. For purposes of this section entitled “U.S. Federal Income Tax Considerations,” references to “we,” “us,” and “our” mean only EPR Properties and not its subsidiaries or other lower tier entities, except as otherwise indicated. If we offer depositary shares, warrants, debt securities or units, information about any additional income tax consequences to holders of those securities will be included in the prospectus supplement or other applicable offering materials under which those securities are offered. This summary is based on current law, is for general information only and is not tax advice. The tax treatment to holders of our securities will vary depending on a holder’s particular situation. This summary does not address all aspects of U.S. federal income taxation that may be relevant to a holder of securities in light of the holder’s personal investments or tax circumstances. Moreover, this summary does not address tax considerations applicable to certain types of holders subject to special treatment under the U.S. federal income tax laws including, without limitation:

| • |     | a bank, insurance company, regulated investment company, real estate investment trust or other financial 
 institution;                                                                                             |

| • |     | broker-dealers or traders; |

| • |     | partnerships and trusts, and partners and beneficiaries, respectively, thereof; |

| • |     | an S corporation; |

| • |     | a person who acquires our securities in connection with employment or other performances of services; |

| • |     | a person who holds our securities as part of a straddle, hedging transaction, constructive sale transaction, 
 constructive ownership transaction, conversion transaction or other integrated investment;                   |

| • |     | investors whose functional currency is not the U.S. dollar and U.S. expatriates; |

| • |     | a person subject to the alternative minimum tax; or |

| • |     | except as specifically described in the following summary, a tax exempt entity or a foreign person. |

In addition, the summary below does not consider the effect of any foreign, state, local or other tax laws that may be applicable to holders of our securities. The information in this section is based on the U.S. Internal Revenue Code