Company: EPR-PE
Filing Date: 2025-11-05
Form Type: 424B5
Source: 0001193125-25-266433
Chunk: 120

Company: EPR PROPERTIES
Filing Date: 2025-11-05
Form: 424B5
Chunk 120
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| • |     | the fact that the number of our Trustees may be fixed only by vote of our Board of Trustees and that a vacancy on 
 our Board of Trustees may be filled only by the affirmative vote of a majority of our remaining Trustees;         |

| • |     | the advance notice requirements for shareholder nominations for Trustees and other proposals; |

| • |     | the business combination provisions of the MGCL; |

| • |     | the control share acquisition provisions of the MGCL; and |

| • |     | the power of our Board of Trustees to authorize and issue additional shares, including additional classes of 
 shares with rights defined at the time of issuance, without shareholder approval.                            |

42

U.S. FEDERAL INCOME TAX CONSIDERATIONS The following discussion summarizes the material United States (“U.S.”) federal income tax considerations regarding EPR and the acquisition, ownership and disposition of our securities. For purposes of this section entitled “U.S. Federal Income Tax Considerations,” references to “we,” “us,” and “our” mean only EPR Properties and not its subsidiaries or other lower tier entities, except as otherwise indicated. If we offer depositary shares, warrants, debt securities or units, information about any additional income tax consequences to holders of those securities will be included in the prospectus supplement or other applicable offering materials under which those securities are offered. This summary is based on current law, is for general information only and is not tax advice. The tax treatment to holders of our securities will vary depending on a holder’s particular situation. This summary does not address all aspects of U.S. federal income taxation that may be relevant to a holder of securities in light of the holder’s personal investments or tax circumstances. Moreover, this summary does not address tax considerations applicable to certain types of holders subject to special treatment under the U.S. federal income tax laws including, without limitation:

| • |     | a bank, insurance company, regulated investment company, real estate investment trust or other financial 
 institution;                                                                                             |

| • |     | broker-dealers or traders; |

| • |     | partnerships and trusts, and partners and beneficiaries, respectively, thereof; |

| • |     | an S corporation; |

| • |     | a person who acquires our securities in connection with employment or other performances of services; |

| • |     | a person who holds our securities as part of a straddle, hedging transaction, constructive sale transaction, 
 constructive ownership