Company: EPR-PE
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001193125-25-309969
Chunk: 85

Company: EPR PROPERTIES
Filing Date: 2025-12-05
Form: 424B5
Chunk 85
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 37% for non-corporateshareholders), instead of at lower capital gain rates. However, for taxable years prior to 2026, individual shareholders are generally allowed to deduct 20% of the aggregate amount of ordinary dividends distributed by us, subject to certain limitations, which would reduce the maximum marginal effective tax rate for individuals on the receipt of such ordinary dividends to 29.6%. Capital gain dividends and qualified dividend income will continue to be subject to a maximum 20% rate for non-corporateU.S. shareholders. Generally, our dividends are not treated as qualified dividend income subject to a favorable 15% or 20% rate. No portion of any of our dividends is eligible for the dividends received deduction for corporate shareholders. Distributions in excess of current or accumulated earnings and profits generally are treated for U.S. federal income tax purposes as return of capital to the extent of, and in reduction of, a shareholder’s tax basis in our shares. Our current or accumulated earnings and profits are generally allocated first to distributions made on our preferred shares, if any, and thereafter to distributions made on our common shares. For all of these purposes, our distributions include cash distributions and any in kind distributions of property that we might make. If we qualify as a REIT, we will, however, be subject to U.S. federal income tax in the following circumstances:

| • |     | We will be taxed at regular corporate rates on any undistributed REIT taxable income, including undistributed net 
 capital gains.                                                                                                    |

| • |     | If we have (a) net income from the sale or other disposition of “foreclosure property” (defined                                                                                                                                                    
 generally as property we acquired through foreclosure or after a default on a loan secured by the property or a lease of the property) which is held primarily for sale to customers in the ordinary course of business or (b) other nonqualifying 
 income from foreclosure property, we will be subject to tax at the highest U.S. federal corporate income tax rate, currently 21%, on this income.                                                                                                  |

| • |     | We will be subject to a 100% tax on any net income from prohibited transactions (which are, in general, certain                                                                  
 sales or other dispositions of property (other than foreclosure property) included in our inventory or held primarily for sale to customers in the ordinary course of business). |

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| • |     | We may elect to retain and pay income tax on our net long-term capital gain. In that