EPR Properties Prices $500.0 Million of 3.750% Senior Notes due 2029

EPR Properties (NYSE:EPR) (the “Company”) announced today that it has priced an underwritten public offering of $500.0 million of 3.750% Senior Notes due 2029. None of the Company’s subsidiaries will initially guarantee the notes. However, certain of the Company’s domestic subsidiaries will be obligated to guarantee the notes under certain circumstances. The offering is expected to close on August 15, 2019, subject to customary closing conditions.

Citigroup Global Markets Inc., Barclays Capital Inc., BofA Securities, Inc. and RBC Capital Markets, LLC are acting as joint book-running managers for the offering. KeyBanc Capital Markets Inc., Stifel, Nicolaus & Company, Incorporated and SunTrust Robinson Humphrey, Inc. are acting as joint lead managers, and BNP Paribas Securities Corp. and U.S. Bancorp Investments, Inc. are acting as co-managers for the offering.

The Company intends to use the net proceeds from the offering principally to refinance any and all of the Company’s 5.750% Senior Notes due 2022 pursuant to a tender offer announced separately today, by redemption or otherwise, and the balance of net proceeds, if any, will be used for general corporate purposes, which may include the reduction of the outstanding balance on the Company’s unsecured revolving credit facility. Such application of net proceeds will increase the amounts available under the Company’s unsecured revolving credit facility, which the Company intends to use for general business purposes, including funding the Company’s ongoing pipeline of acquisition and build-to-suit projects. To the extent the tender offer announced separately today is not consummated or not subscribed in full, the Company intends to use the net proceeds from the offering to finance a portion of the repurchase or redemption of some or all of the 5.750% Senior Notes due 2022.

The notes will be issued pursuant to a prospectus supplement and an accompanying prospectus filed as part of an effective shelf registration statement filed with the Securities and Exchange Commission on Form S-3. A written prospectus and prospectus supplement relating to the offering, when available, may be obtained by contacting Citigroup Global Markets Inc., at c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by emailing [e-mail] or calling [phone]; Barclays Capital Inc., at c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by emailing [e-mail] or by calling [phone]; BofA Securities, Inc., by calling [phone] or by emailing [e-mail]; or calling [phone]; or RBC Capital Markets, LLC, at 200 Vesey Street, 8th Floor, New York, NY 10281, Attn: Debt Capital Markets, by calling [phone] or by emailing [e-mail]. You may also get these documents free by visiting EDGAR on the SEC website at www.sec.gov.