Company: EPR-PE
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001193125-25-309969
Chunk: 77

Company: EPR PROPERTIES
Filing Date: 2025-12-05
Form: 424B5
Chunk 77
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cess Shares, and distributions on the Excess Shares would be payable to the trustee for the benefit of the charitable beneficiaries.

Holders
of Excess Shares would be entitled to compensation for their Excess Shares, but that compensation may be less than the price they paid for the Excess Shares. Persons who hold Excess Shares or who intend to acquire Excess Shares must provide written
notice to us.

Our Ownership Limit may also act to deter an unfriendly takeover of the Company.

In addition, our Declaration of Trust allows the Company to redeem any or all of the Securities owned or controlled by any person that is
determined to be unsuitable to own or control such Securities due to failure to

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comply with all applicable laws, statutes and ordinances pursuant to which any gaming authority possesses regulatory, permit and licensing authority over the conduct of gaming activities. Our Declaration of Trust defines the term “Securities” to mean the Company’s common shares and preferred shares and/or the capital stock, member’s interests or membership interests, partnership interests or other equity securities of entities affiliated with the Company. The foregoing provision may also act to deter an unfriendly takeover of the Company. Business Combinations The MGCL contains a provision which regulates business combinations with interested shareholders. This provision applies to Maryland real estate investment trusts like us. Under the MGCL, business combinations such as mergers, consolidations, share exchanges and the like between a Maryland real estate investment trust and an interested shareholder or an affiliate of an interested shareholder are prohibited for five years after the most recent date on which the shareholder becomes an interested shareholder. Under the MGCL, the following persons are deemed to be interested shareholders:

| • |     | any person who beneficially owns 10% or more of the voting power of the trust’s shares; or |

After the five-year prohibition period has ended, a business combination between a trust and an interested shareholder must be recommended by the board of trustees of the trust and must receive the following shareholder approvals:

| • |     | the affirmative vote of at least 80% of the votes entitled to be cast; and |

| • |     | the affirmative vote of at least two-thirds of the votes entitled to be                                                                                                                                                                      
 cast by holders of shares other than shares held by the interested shareholder with whom or with whose affiliate or associate the business combination is to be effected or held by an affiliate or associate of the interested shareholder. |

The shareholder approvals discussed above are not required if the trust’s shareholders receive the minimum price set forth in the MG