Company: EPR-PE
Filing Date: 2025-11-05
Form Type: 424B5
Source: 0001193125-25-266433
Chunk: 119

Company: EPR PROPERTIES
Filing Date: 2025-11-05
Form: 424B5
Chunk 119
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’s board of directors (or board of trustees) will be divided into three classes; |

| • |     | the affirmative vote of two-thirds of all of the votes entitled to be                                                    
 cast by shareholders generally in the election of directors (or trustees) is required to remove a director (or trustee); |

| • |     | the number of directors (or trustees) may be fixed only by vote of the directors (or trustees); |

| • |     | a vacancy on the board of directors (or board of trustees) may be filled only by the remaining directors (or                                                                                  
 trustees) and that directors (or trustees) elected to fill a vacancy will serve for the remainder of the full term of the class of directors (or trustees) in which the vacancy occurred; and |

| • |     | the request of shareholders entitled to cast at least a majority of all of the votes entitled to be cast at the 
 meeting is required for shareholders to require the calling of a special meeting of shareholders.               |

41

The Maryland Unsolicited Takeovers Act does not limit the power of a corporation (or real estate investment trust) to confer on the holders of any class or series of preferred stock the right to elect one or more directors (or trustees). The Maryland Unsolicited Takeovers Act also permits the charter or a board resolution to prohibit the corporation (or real estate investment trust) from electing to be subject to any or all of the provisions of Subtitle 8, which we have not done. We currently have more than three independent Trustees and have a class of equity securities registered under the Exchange Act, and therefore our Board of Trustees may elect to provide for any of the foregoing provisions without shareholder approval. As of the date hereof, our Board of Trustees has not made any such election. However, through provisions of our Declaration of Trust and Bylaws unrelated to the Maryland Unsolicited Takeovers Act, we already provide for certain of the foregoing provisions of the Maryland Unsolicited Takeovers Act. Anti-Takeover Effect of Maryland Law and of Our Declaration of Trust and Bylaws The following provisions in our Declaration of Trust and Bylaws and in Maryland law could delay or prevent a change in control of EPR:

| • |     | the limitation on ownership and acquisition of more than 9.8% of our shares and the limitation on the ability of 
 certain persons to own or control shares;                                                                        |

| • |     | the requirement of cause and a two-thirds majority vote of shareholders 
 for removal of our Trustees