Company: EPR-PE
Filing Date: 2025-11-05
Form Type: 424B5
Source: 0001193125-25-266433
Chunk: 81

Company: EPR PROPERTIES
Filing Date: 2025-11-05
Form: 424B5
Chunk 81
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 preceding sentence shall remain in effect until we declare and pay or set aside for payment all distributions accrued and unpaid on the applicable series. In the event the preferred shareholders are so entitled to elect trustees, the entire Board of Trustees will be increased by two trustees. Unless otherwise specified in the applicable prospectus supplement or other applicable offering materials, so long as any preferred shares are outstanding, we may not, without the affirmative vote or consent of at least two-thirdsof the shares of each series of preferred shares (and other shares having like voting rights) outstanding at that time:

| • |     | effect a share exchange, consolidation or merger into another entity unless the series remains outstanding and                                                                                                                           
 its terms are not materially and adversely changed or the series is converted into or exchanged for preferred shares having identical terms (except for changes that do not materially and adversely affect the holders of such series); |

| • |     | amend, alter or repeal the provisions of our Declaration of Trust or Bylaws that materially and adversely affects 
 the series of preferred shares;                                                                                   |

| • |     | increase the authorized amount of such series of preferred shares or decrease the authorized amount of such 
 series of preferred shares below the number then issued and outstanding;                                    |

| • |     | authorize, create or increase the authorized or issued amount of any class or series of shares ranking senior to 
 that series of preferred shares;                                                                                 |

| • |     | reclassify any class or series of shares ranking senior to that series of preferred shares or any security or 
 obligation convertible into any class of shares ranking senior to that series of preferred shares; and        |

| • |     | create, authorize or increase the authorized or issued amount of any security or obligation convertible into or 
 evidencing the right to purchase any shares ranking senior to that series of preferred shares.                  |

The authorization, creation, increase or decrease of the authorized amount of any class or series of shares ranking on parity or junior to a series of preferred shares with respect to distribution and liquidation rights, or the issuance of such shares, will not be deemed to materially and adversely affect that series. The foregoing voting provisions will not apply if, at or prior to the time of such amendment, provisions are made for the redemption of all of the outstanding shares of the series of preferred shares with the right to vote. As more fully described under “Description of Depositary Shares” below, if we elect to issue depositary shares, each representing a fraction of a share or multiple shares of a series of preferred