Company: EPR-PE
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001193125-25-309969
Chunk: 20

Company: EPR PROPERTIES
Filing Date: 2025-12-05
Form: 424B5
Chunk 20
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 out-of-pocket expenses, including fees and expenses of counsel in connection with the Distribution Agreement. To the extent that we have not sold our common shares having an
aggregate gross sales price of $40,000,000 by the 24-month

S-14

anniversary of the Distribution Agreement, we have agreed, subject to certain limitations, to reimburse the Sales Agents, the Forward Sellers and the Forward Purchasers for reasonable out-of-pocket expenses, including the reasonable fees and disbursements of counsel for the Sales Agents, the Forward Sellers and the Forward Purchasers, up to a maximum
aggregate amount of $150,000.

Sales through sales agents

From time to
time during the term of the Distribution Agreement, we may deliver a transaction confirmation to one of the Sales Agents specifying the length of the selling period, the number of our common shares to be sold and the minimum price below which sales
may not be made.

Each Sales Agent has agreed that, upon receipt of a transaction confirmation from us that is accepted by a Sales Agent, and subject to the terms
and conditions of the Distribution Agreement, such Sales Agent will use commercially reasonable efforts consistent with its normal trading and sales practices to sell such common shares on such terms. We or such Sales Agent may suspend the offering
of our common shares at any time upon proper notice to the other party, upon which the selling period will immediately terminate. The obligation of each Sales Agent under the Distribution Agreement to sell common shares pursuant to any transaction
confirmation is subject to a number of conditions, which such Sales Agent reserves the right to waive in its sole discretion.

We will pay each Sales Agent a
commission of up to 2.0% of the gross sales price for any of our common shares sold through it as a Sales Agent under the Distribution Agreement.

Settlement for
sales of our common shares will occur, unless the parties agree otherwise, on the first trading day following the date on which such sales were made in return for payment of the proceeds to us net of compensation paid by us to the Sales Agents.
There is no arrangement for funds to be received in an escrow, trust or similar arrangement.

Sales through forward sellers

From time to time during the term of the Distribution Agreement, and subject to the terms and conditions set forth therein and in the related master forward
confirmation, we may deliver a forward placement notice relating to a forward sale to any of the Forward Sellers and the applicable Forward Purchaser. Upon acceptance by a Forward Seller and the applicable Forward Purchaser of a forward placement