Company: EPR-PE
Filing Date: 2025-06-03
Form Type: S-3ASR
Source: 0001193125-25-134126
Chunk: 53

Company: EPR PROPERTIES
Filing Date: 2025-06-03
Form: S-3ASR
Chunk 53
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 a trust and an interested shareholder must be recommended by the board of trustees of the trust and must receive the following shareholder approvals:

| • |     | the affirmative vote of at least 80% of the votes entitled to be cast; and |

| • |     | the affirmative vote of at least two-thirds of the votes entitled to be                                                                                                                                                                      
 cast by holders of shares other than shares held by the interested shareholder with whom or with whose affiliate or associate the business combination is to be effected or held by an affiliate or associate of the interested shareholder. |

The shareholder approvals discussed above are not required if the trust’s shareholders receive the minimum price set forth in the MGCL for their shares and the consideration is received in cash or in the same form as previously paid by the interested shareholder for its shares. The foregoing provisions of the MGCL do not apply, however, to business combinations that are approved or exempted by the board of trustees of the trust prior to the time that the interested shareholder becomes an interested shareholder. A person is not an interested shareholder under the MGCL if the board of trustees approved in advance the transaction by which the person otherwise would have become an interested shareholder. The board of trustees may provide that its approval is subject to compliance with any terms and conditions determined by the board of trustees. Control Share Acquisitions The MGCL contains a provision which regulates control share acquisitions. This provision also applies to Maryland real estate investment trusts. The MGCL provides that control shares of a Maryland real estate investment trust acquired in a control share acquisition have no voting rights except to the extent approved by a vote of two-thirdsof the votes entitled to be cast on the matter. Shares owned by the acquiror, by officers or by trustees who are employees of the trust are excluded from shares entitled to vote on the matter. Control shares are voting shares which, if aggregated with all other shares owned by the acquiror, or in respect of which the acquiror is able to exercise or direct the exercise of voting power (except solely by virtue of a revocable proxy), 40

would entitle the acquiror to exercise voting power in electing trustees within one of the following ranges of voting power:

| • |     | One-tenth or more but less than 
 one-third;                      |

| • |     | One-third or more but less than a majority; or |

| • |     | A majority or more of all voting power. |

Control shares do not include shares which the acquiring person is entitled to vote as