Company: EPR-PE
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001193125-25-309969
Chunk: 24

Company: EPR PROPERTIES
Filing Date: 2025-12-05
Form: 424B5
Chunk 24
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 certain mergers or tender offers, as well as
certain events involving our nationalization or insolvency or a delisting of our common shares) or the occurrence of a change in law under the forward sale agreement; or (5) certain other events of default or termination events occur,
including, among others, any material misrepresentation made in connection with such forward sale agreement (each as more fully described in each forward sale agreement). A Forward Purchaser’s decision to exercise its right to accelerate any
forward sale agreement and to require us to physically settle any such forward sale agreement will be made irrespective of our interests, including our need for capital. In such cases, we could be required to deliver our common shares under the
terms of the physical settlement provisions of the applicable forward sale agreement irrespective of our capital needs, which would result in dilution to our earnings per share. In addition, upon certain events of bankruptcy, insolvency or
reorganization relating to us, the forward sale agreement will terminate without further liability of either party. Following any such termination, we would not deliver any of our common shares and we would not receive any proceeds pursuant to the
forward sale agreement. See “Risk Factors.”

We will deliver to the NYSE copies of this prospectus supplement and the accompanying prospectus pursuant to
the rules of the NYSE. Unless otherwise required, we will report at least quarterly the number of our common shares sold through the Sales Agents under the Distribution Agreement, the net proceeds to us and the compensation paid by us to the Sales
Agents in connection with the sales of common shares for each quarter in which any sales are made through the Sales Agents.

Other relationships

Each of the Sales Agents, the Forward Sellers, the Forward Purchasers or their respective affiliates have provided in the past, and may provide from time to time in the
future, investment banking, commercial banking and financial advisory services for us from time to time for which they have received or may receive customary

S-17

fees and expenses. The Sales Agents, the Forward Sellers, the Forward Purchasers or their respective affiliates may, from time to time, engage in other transactions with us and perform other
services for us in the ordinary course of their businesses. In particular, affiliates of certain Sales Agents, Forward Sellers and Forward Purchasers serve as lenders or in other roles under our unsecured revolving credit facility and other
financial indebtedness. In connection with their participation in our unsecured revolving credit facility or other financial indebtedness, such Sales Agents, Forward Sellers and