Company: EPR-PE
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001193125-25-309969
Chunk: 19

Company: EPR PROPERTIES
Filing Date: 2025-12-05
Form: 424B5
Chunk 19
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 In connection with any forward sale agreement, the relevant Forward Purchaser (or its affiliate) will attempt
to borrow from third parties and, through its affiliated Forward Seller, sell a number of our common shares equal to the number of our common shares underlying such forward sale agreement. In no event will the aggregate number of our common shares
sold through the Sales Agents under the Distribution Agreement have an aggregate sales price in excess of $400,000,000.

In connection with any sale of common shares
on our behalf, each of the Sales Agents, Forward Sellers or Forward Purchasers may be deemed to be an “underwriter” within the meaning of the Securities Act, and the compensation paid to the Sales Agents, the Forward Sellers or the
Forward Purchasers may be deemed to be underwriting commissions or discounts. We have agreed in the Distribution Agreement to provide indemnification and contribution to each of the Sales Agents, Forward Sellers and Forward Purchasers against
certain civil liabilities, including liabilities under the Securities Act.

Our common shares are an “actively-traded security” excepted from the
requirements of Rule 101 of Regulation M under Rule 101(c)(1) of the Exchange Act. If the Sales Agents, the Forward Sellers, the Forward Purchasers or we have reason to believe that the exemptive provisions set forth in Rule 101(c)(1) of Regulation
M under the Exchange Act are not satisfied, that party will promptly notify the others and sales of our common shares under the Distribution Agreement will be suspended until that or other exemptive provisions have been satisfied in the judgment of
the Sales Agents, the Forward Sellers, the Forward Purchasers and us.

The offering of common shares pursuant to the Distribution Agreement will terminate upon the
earliest of (1) the sale of our common shares having an aggregate sales price of $400,000,000 and (2) the termination of the Distribution Agreement by us at any time upon written notice or, with respect to any particular Sales Agent,
Forward Seller or Forward Purchaser, by such Sales Agent, Forward Seller or Forward Purchaser with respect to its respective obligations under the Distribution Agreement, at any time upon written notice.

We estimate that the total expenses for the offering, excluding compensation payable to the Sales Agents and/or the Forward Sellers, as applicable, under the terms of
the Distribution Agreement, will be approximately $750,000. We have also agreed, under certain circumstances, to reimburse the Sales Agents, the Forward Sellers and the Forward Purchasers for certain of their reasonable, documented