Company: EPR-PE
Filing Date: 2025-11-05
Form Type: 424B5
Source: 0001193125-25-266433
Chunk: 127

Company: EPR PROPERTIES
Filing Date: 2025-11-05
Form: 424B5
Chunk 127
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 directors; |

| (2) | the beneficial ownership of which is evidenced by transferable shares or transferable certificates of 
 beneficial interest;                                                                                  |

| (3) | that would be taxable as a domestic corporation, but for Sections 856 through 859 of the Code; |

| (4) | that is neither a financial institution nor an insurance company within the meaning of certain provisions of 
 the Code;                                                                                                    |

| (5) | the beneficial ownership of which is held by 100 or more persons; |

| (6) | not more than 50% in value of the outstanding shares of which is owned, directly or indirectly, by five or                                                 
 fewer individuals (as defined in the Code to include certain entities) during the last half of each taxable year after applying certain attribution rules; |

| (7) | that makes an election to be a REIT for the current taxable year or has made an election for a previous taxable 
 year which has not been terminated or revoked; and                                                              |

| (8) | that meets certain other tests, described below, regarding the nature of its income and assets and the amount 
 of its distributions.                                                                                         |

The Code provides that conditions (1) through (4), inclusive, must be met during the entire taxable year and that condition (5) must be met during at least 335 days of a taxable year of 12 months, or during a proportionate part of a taxable year of less than 12 months. Conditions (5) and (6) do not apply until after the first taxable year for which an election is made to be taxed as a REIT. For purposes of condition (6), pension funds and certain other tax-exemptentities are treated as individuals, subject to a “look-through” exception with respect to pension funds. A REIT also must report its income for U.S. federal income tax purposes based on a calendar year accounting period. We have adopted December 31 as our year end, and thereby satisfy this requirement. 47

To monitor continuing compliance with the share ownership requirements described in
(5) and (6) above, we are generally required to maintain records regarding the actual ownership of our shares. To do so, we must demand written statements each year from the record holders of significant percentages of our stock in which
the record holders are to disclose the actual owners of the shares, i.e., the persons required to include in gross income the dividends paid by us. A list of those persons failing or refusing to comply