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

Company: EPR PROPERTIES
Filing Date: 2025-11-05
Form: 424B5
Chunk 11
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 us. Additional risks and uncertainties not presently known to us or that we currently consider immaterial may also adversely affect us. See “Cautionary Statement Concerning Forward-Looking Statements.” If any of the events described in the risk factors below occur, our business, financial condition, operating results and prospects could be materially adversely affected, which in turn could adversely affect our ability to repay the notes. Our indebtedness may affect our ability to operate our business and may have a material adverse effect on our financial condition and results of operations. We may incur additional indebtedness, including secured indebtedness. We have a significant amount of indebtedness. As of September 30, 2025, we had total debt outstanding of approximately $2.8 billion. After giving effect to the sale of $550.0 million aggregate principal amount of notes offered hereby and the application of proceeds therefrom, we would have had total debt outstanding of approximately $2.9 billion. Our indebtedness could have important consequences, such as:

| • |     | limiting our ability to obtain additional financing to fund our working capital needs, acquisitions, capital expenditures 
 or other debt service requirements or for other purposes;                                                                 |

| • |     | limiting our ability to use operating cash flow in other areas of our business because we must dedicate a substantial 
 portion of these funds to service debt;                                                                               |

| • |     | limiting our ability to compete with other companies who are not as highly leveraged, as we may be less capable of 
 responding to adverse economic and industry conditions;                                                            |

| • |     | restricting us from making strategic acquisitions, developing properties or exploiting business opportunities; |

| • |     | restricting the way in which we conduct our business because of financial and operating covenants in the agreements                                                                                                                               
 governing our and our subsidiaries’ existing and future indebtedness, including, in the case of certain indebtedness of subsidiaries, certain covenants that restrict the ability of subsidiaries to pay dividends or make other distributions to 
 us;                                                                                                                                                                                                                                               |

| • |     | exposing us to potential events of default (if not cured or waived) under financial and operating covenants contained in                        
 our or our subsidiaries’ debt instruments that could have a material adverse effect on our business, financial condition and operating results; |

| • |     | increasing our vulnerability to a downturn in general economic conditions or in pricing of our investments; |

| • |     | negatively impacting our credit ratings; and |

| • |     | limiting our ability to react