Company: EPR-PE
Filing Date: 2025-11-05
Form Type: 424B5
Source: 0001193125-25-266433
Chunk: 121

Company: EPR PROPERTIES
Filing Date: 2025-11-05
Form: 424B5
Chunk 121
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 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 (the “Code”), current, temporary and proposed Treasury Regulations promulgated under the Code, the legislative history of the Code, current administrative interpretations and practices of the Internal Revenue Service (the “IRS”), and court decisions, all as of the date of this prospectus. The reference to IRS interpretations and practices includes the IRS practices and policies endorsed in private letter rulings, which are not binding on the IRS except with respect to the taxpayer that received the ruling. Future legislation, Treasury Regulations, administrative interpretations and practices and court decisions may change or adversely affect, perhaps retroactively, the tax considerations described herein. We have not requested, and do not plan to request, any rulings from the IRS concerning our tax treatment and the statements in this prospectus are not binding on the IRS or any court. Thus, we can provide no assurance that the tax considerations contained in this summary will not be challenged by the IRS or sustained by a court if challenged by the IRS. This summary is based upon the assumption that the operation of the Company, and of its subsidiaries and other lower-tier and affiliated entities, will in each case be in accordance with its applicable organizational 43

documents or partnership agreements. This summary does not discuss the impact that U.S. state and local taxes and taxes imposed by the non-U.S.jurisdictions could have on the matters discussed in this summary. In addition, this summary assumes that holders hold our securities as a capital asset, which generally means as property held for investment.

The U.S. federal income tax treatment of holders of our securities depends in some circumstances on determinations of fact and interpretation of complex provisions of U.S. federal income tax law for which no clear precedent or authority may be available. You are advised to consult your tax advisor regarding the specific tax consequences to you of the acquisition, ownership and sale of our securities, and of our election to be taxed as a REIT, including the U.S. federal