Company: EPR-PE
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001193125-25-309969
Chunk: 13

Company: EPR PROPERTIES
Filing Date: 2025-12-05
Form: 424B5
Chunk 13
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 such settlement  
 to the extent we are obligated to deliver our common shares) will result in dilution to our earnings per share. If we elect cash settlement or net share settlement with respect to all or a portion of our common shares                                |

S-9

| underlying a particular forward sale agreement, we expect the applicable Forward Purchaser (or an affiliate thereof) to purchase a number of our common shares in secondary market transactions                                                   
 over an unwind period to: return our common shares to securities lenders in order to unwind such Forward Purchaser’s hedge (after taking into consideration any of our common shares to be delivered by us to such Forward Purchaser, in the case 
 of net share settlement); and                                                                                                                                                                                                                     |

| • |     | if applicable, in the case of net share settlement, deliver our common shares to us to the extent required in settlement of 
 such forward sale agreement.                                                                                                |

The purchase of our common shares in connection with a Forward Purchaser or its affiliate unwinding such Forward Purchaser’s hedge positions could cause the price of our common shares to increase over such time (or prevent a decrease over such time), thereby increasing the amount of cash we would owe to such Forward Purchaser (or decreasing the amount of cash that such Forward Purchaser would owe to us) upon a cash settlement of the relevant forward sale agreement or increasing the number of our common shares we would deliver to such Forward Purchaser (or decreasing the number of our common shares that such Forward Purchaser would deliver to us) upon net share settlement of the relevant forward sale agreement. The forward sale price that we expect to receive upon physical settlement of a particular forward sale agreement will be subject to adjustment on a daily basis based on a floating interest rate factor equal to the overnight bank rate less a spread and will be decreased based on amounts related to expected dividends on our common shares during the term of the applicable forward sale agreement. If the overnight bank rate is less than the spread for a particular forward sale agreement on any day, the interest factor will result in a daily reduction of the applicable forward sale price. If the volume-weighted average price at which a particular Forward Purchaser (or its affiliate) is able to purchase (or is deemed able to purchase) shares during the applicable unwind period under a particular forward sale agreement is above the relevant forward sale price, in the case of cash settlement, we would pay the relevant Forward Purchaser under such forward sale agreement an amount in cash equal to the difference or, in the case of net share settlement, we would deliver