Company: EPR-PE
Filing Date: 2025-06-03
Form Type: S-3ASR
Source: 0001193125-25-134116
Chunk: 56

Company: EPR PROPERTIES
Filing Date: 2025-06-03
Form: S-3ASR
Chunk 56
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 distributions to our shareholders will generally be taxable as ordinary dividends potentially eligible for the 15% or 20% income tax rate (depending on the shareholder’s marginal U.S. federal income tax bracket) discussed below in “Taxation of Taxable U.S. Shareholders” and, subject to limitations in the Code, will be eligible for the dividends received deduction for corporate shareholders. Also, we will generally be ineligible to re-qualifyas a REIT for the four taxable years following disqualification. If we do not qualify as a REIT for even one year, this could result in reduction or elimination of distributions to our shareholders, or in our incurring substantial indebtedness or liquidating substantial investments in order to pay the resulting corporate-level taxes. The Code provides certain relief provisions under which we might avoid automatically ceasing to be a REIT for failure to meet certain REIT requirements, all as discussed in more detail below. Requirements for Qualification as a REIT The Code defines a REIT as a corporation, trust or association:

| (1) | that is managed by one or more trustees or 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 proportion