Company: EPR-PE
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001193125-25-309969
Chunk: 71

Company: EPR PROPERTIES
Filing Date: 2025-12-05
Form: 424B5
Chunk 71
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 the successor entity will
succeed to and assume our obligations under the unit agreements. We will then be relieved of any further obligation under these agreements.

The unit agreements will not include any restrictions on our ability to put liens on our assets, including our interests in our subsidiaries,
nor will they restrict our ability to sell our assets. The unit agreements also will not provide for any events of default or remedies upon the occurrence of any events of default.

Governing Law

The unit agreements and
the units will be governed by New York law.

Form, Exchange and Transfer

We will issue each unit in global—i.e., book-entry—form only. Units in book-entry form will be represented by a global security
registered in the name of a depositary, which will be the holder of all the units represented by the global security. Those who own beneficial interests in a unit will do so through participants in the depositary’s system, and the rights of
these indirect owners will be governed solely by the applicable procedures of the depositary and its participants. Information with respect to book-entry procedures, if any, will be described in the applicable prospectus supplement or other offering
materials.

Each unit and all securities comprising the unit will be issued in the same form.

If we issue any units in registered, non-global form, the following will apply to them.

35

The units will be issued in the denominations stated in the applicable prospectus supplement. Holders may exchange their units for units of smaller denominations or combined into fewer units of larger denominations, as long as the total amount is not changed.

| • |     | Holders may exchange or transfer their units at the office of the unit agent. Holders may also replace lost,                             
 stolen, destroyed or mutilated units at that office. We may appoint another entity to perform these functions or perform them ourselves. |

| • |     | Holders will not be required to pay a service charge to transfer or exchange their units, but they may be                                                                                                                                          
 required to pay for any tax or other governmental charge associated with the transfer or exchange. The transfer or exchange, and any replacement, will be made only if our transfer agent is satisfied with the holder’s proof of legal ownership. 
 The transfer agent may also require an indemnity before replacing any units.                                                                                                                                                                       |

| • |     | If we have the right to redeem, accelerate or settle any units before their maturity, and we exercise our right                                                                                                                                           
 as to less than all those units or other