UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-13561 | --- | --- | --- | |----------------------------------------------------------------------------------------------------------- ...

EPR Properties (NYSE:EPR) Q2 2020 Earnings Conference Call August 6, 2020 8:30 AM ET Company Participants Brian Moriarty - Vice President, Corporate Communications Greg Silvers - President & Chief Executive Officer Greg Zimmerman - Chief Investment Officer Mark Peterson - Chief Financial Officer Conference Call Participants Ki Bin Kim - Truist Brian Hawthorne - RBC Capital Markets Nick Joseph - Citi John Massocca - Ladenburg Thalmann Operator Good day ladies and gentlemen and welcome to the Second Quarter 2 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-13561 EPR PROPERTIES (Exact name of registrant as specified in its charter) Maryland 43-1790877 (State or other jurisdiction of incorporati ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Title of each class Trading symbol(s) Name of each exchange on which registered Common shares, par value $0.01 per share EPR New York Stock Exchange 5.75% Series C cumulative convertible preferred shares, par value $0.01 per share EPR PrC New York Stock Exchange 9.00% Series E cumulative convertible preferred shares, par value $0.01 per share EPR PrE New York Stock Exchange 5.75% Series G cumulative redeemable preferred shares ...

Financial Data and Key Metrics Changes - FFO adjusted for the quarter was $0.97 per share versus $1.36 in the prior year, and AFFO for the quarter was $0.14 per share compared to $1.38 in the prior year [39] - Total revenue from continuing operations for the quarter was up $0.5 million from the prior year due to revenue associated with new net investments in experiential real estate [41] - The company reported a net debt to gross assets ratio of 38% and a net debt to adjusted EBITDA ratio of 5.1x at quarter end [45] Business Line Data and Key Metrics Changes - The experiential portfolio comprises 285 properties, is 98.3% occupied, and accounts for nearly $6 billion of total investments [18] - The education portfolio comprises 86 properties, is 100% occupied at the end of the quarter [19] - Rent collections were approximately 15% of contractual base rent and mortgage payments in April due to property closures [11] Market Data and Key Metrics Changes - The company anticipates most theaters will reopen around July 1st, subject to state and local government actions [20] - Over 50% of attractions and cultural operators are expected to be open by July [30] - The company expects a gradual ramp-up of rent and mortgage payments through Q3 and Q4, with repayment of deferred amounts commencing in 2021 [36] Company Strategy and Development Direction - The company has suspended its monthly cash dividend to common shareholders and share repurchase program to fortify its balance sheet [10][14] - The management remains committed to reasonable leverage levels and a strong balance sheet despite the pandemic's impact [15] - The company believes in the long-term macro trend of experiential properties and anticipates strong demand post-pandemic [17] Management Comments on Operating Environment and Future Outlook - Management expressed that the current situation is unprecedented, but they believe the company will emerge strong post-pandemic [9][15] - There is an expectation that social distancing will remain the norm, impacting capacity limits in theaters [16] - Management is actively working with tenants to evaluate deferral requests and structure repayment plans [12][35] Other Important Information - The company has $1.2 billion of unrestricted cash on hand at quarter end, providing multiple years of available cash even if current rent collection levels persist [47] - The company plans to recognize revenue for tenants receiving rent deferrals based on the probability of collection [50][51] - The company is in discussions with lenders for temporary suspension or modification of financial covenants due to the pandemic's impact [61] Q&A Session Summary Question: What percentage of tenants received government support? - Management indicated that most tenants are larger and exceed the 500-employee limit, making them ineligible for programs like PPP [65] Question: Can you elaborate on the covenant discussions? - Management is seeking waivers for leverage covenants and expects discussions with lenders to proceed smoothly [70][71] Question: What are the expectations for smaller tenants facing disruptions? - Management conducted a review of top tenants and believes the numbers reflect their best estimates, although some smaller tenants may face challenges [77] Question: Will preferred dividends be paid? - Management anticipates paying preferred dividends and has sufficient liquidity to do so [80] Question: How does the company view the potential for repurposing theaters? - Management believes theaters can be repurposed due to their size and location, with historical examples of successful transformations [66]

Supplemental Operating and Financial Data First Quarter Ended March 31, 2020 TABLE OF CONTENTS | --- | --- | |----------------------------------------------------------------|-------| | SECTION | PAGE | | Company Profile | 4 | | Investor Information | 5 | | Selected Financial Information | 6 | | Selected Balance Sheet Information | 7 | | Selected Operating Data | 8 | | Funds From Operations and Funds From Operations as Adjusted | 9 | | Adjusted Funds From Operations | 10 | | Capital Structure | 11 | | Summa ...

EPR Properties (NYSE:EPR) Q4 2019 Earnings Conference Call February 25, 2020 8:30 AM ET Company Participants Brian Moriarty – Vice President-Corporate Communications Greg Silvers – President and Chief Executive Officer Greg Zimmerman – Executive Vice President and Chief Investment Officer Mark Peterson – Executive Vice President, Chief Financial Officer and Treasurer Conference Call Participants Craig Mailman – KeyBanc Rob Stevenson – Janney Ki Bin Kim – SunTrust Michael Carroll – RBC Capital Markets Nick J ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-13561 EPR PROPERTIES (Exact name of registrant as specified in its charter) Maryland 43-1790877 (State or other jurisdiction of incorporation o ...

Financial Data and Key Metrics Changes - FFO as adjusted for the quarter was $1.46 per share, down from $1.58 per share in the prior year, but increased by about 10% when excluding prior year prepayment fees [27][28] - Total revenue for the quarter increased by approximately 18% when excluding $20 million of prepayment fees from the prior year, driven primarily by new investments and dispositions [29] - The debt to adjusted EBITDA ratio was 5.2 times, with total outstanding debt of $3.1 billion at a blended coupon of approximately 4.3% [35][36] Business Line Data and Key Metrics Changes - The entertainment portfolio comprised approximately $3.4 billion of total investments with 99% occupancy and a rent coverage of 1.76 times [16] - The recreation portfolio had approximately $2.3 billion of total investments, 100% occupancy, and a rent coverage of approximately 2.28 times [19] - The education portfolio comprised approximately $1.3 billion of total investments with 98% occupancy and a rent coverage of 1.51 times [23] Market Data and Key Metrics Changes - The third quarter box office was up approximately 3% year-over-year, with expectations for the fourth quarter to exceed 2018 levels [17] - The operators in the attractions portfolio reported visits and revenue up approximately 4% and 7% respectively, compared to the trailing three-year average [19] Company Strategy and Development Direction - The company is focused on the experiential economy, shifting from non-experiential areas towards experiential properties, which have been a primary growth driver for over 20 years [26] - The company is well-positioned for growth with nearly $120 million of unrestricted cash and no outstanding amounts on its $1 billion line of credit [12][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the experiential economy and the opportunities it presents for future growth [9][26] - The company is raising its guidance for 2019 FFO as adjusted per share to a range of $5.44 to $5.52, reflecting strong performance and a robust pipeline of opportunities [42][44] Other Important Information - The company issued $500 million of new 10-year unsecured notes at a coupon of 3.75%, the lowest in its history, and redeemed higher-priced senior notes [36][38] - Investment spending guidance for 2019 has been increased to a range of $775 million to $825 million, with expected disposition proceeds raised to a range of $400 million to $475 million [43][44] Q&A Session Summary Question: Anticipation of ramp in investment spending in 2020 - Management indicated that they believe the opportunity set is strengthening and are preparing for increased investment spending in 2020 [48][49] Question: Areas of best opportunity flow among different segments - Management noted opportunities across all investment segments, particularly in theaters and experiential lodging [52] Question: Transition of CLA schools to Crème de la Crème - Management reported successful transitions and indicated that the new operator is performing well, leading to an accelerated transition timeline [53][54] Question: Attractiveness of Margaritaville Nashville Hotel - The hotel is attractive due to its location, amenities, and the experiential nature of its offerings, which align with the company's investment strategy [57][58] Question: Comfort with tenant industry concentration - Management expressed confidence in the experiential sectors, noting that they are better positioned compared to competitors focused on traditional retail [88]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Title of each class Trading symbol(s) Name of each exchange on which registered Common shares, par value $0.01 per share EPR New York Stock Exchange 5.75% Series C cumulative convertible preferred shares, par value $0.01 per share EPR PrC New York Stock Exchange 9.00% Series E cumulative convertible preferred shares, par value $0.01 per share EPR PrE New York Stock Exchange 5.75% Series G cumulative redeemable preferred shares ...