FIRST QUARTER 2022 EARNINGS CALL May 5, 2022

2 The financial results in this document reflect preliminary, unaudited results, which are not final until the Company’s Quarterly Report on Form 10-Q is filed. With the exception of historical information, certain statements contained or incorporated by reference herein may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), such as those pertaining to the uncertain financial impact of the COVID-19 pandemic, our guidance, our capital resources and liquidity, our expected dividend payments, our expected cash flows and liquidity, the performance of our customers, our expected cash collections, expected use of proceeds from dispositions and our results of operations and financial condition. The estimates presented herein are based on the Company's current expectations and, given the current economic uncertainty, there can be no assurances that the Company will be able to continue to comply with applicable covenants under its debt agreements, which could materially impact actual performance. Forward-looking statements involve numerous risks and uncertainties, and you should not rely on them as predictions of actual events. There is no assurance the events or circumstances reflected in the forward-looking statements will occur. You can identify forward-looking statements by use of words such as “will be,” “intend,” “continue,” “believe,” “may,” “expect,” “hope,” “anticipate,” “goal,” “forecast,” “pipeline,” “estimates,” “offers,” “plans,” “would” or other similar expressions or other comparable terms or discussions of strategy, plans or intentions contained or incorporated by reference herein. Forward-looking statements necessarily are dependent on assumptions, data or methods that may be incorrect or imprecise. These forward-looking statements represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Many of the factors that will determine these items are beyond our ability to control or predict. For further discussion of these factors see “Item 1A. Risk Factors” in our most recent Annual Report on Form 10-K and, to the extent applicable, our Quarterly Reports on Form 10-Q. For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on our forward-looking statements, which speak only as of the date hereof or the date of any document incorporated by reference herein. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Except as required by law, we do not undertake any obligation to release publicly any revisions to our forward-looking statements to reflect events or circumstances after the date hereof. DISCLAIMER

INTRODUCTORY COMMENTS

PORTFOLIO UPDATE

5 PORTFOLIO OVERVIEW Education Portfolio 74 Properties; 8 Operators Occupancy at 100% *See Supplemental Operating and Financial Data – First Quarter Ended March 31, 2022 for definitions and calculations of these non-GAAP measures **YTD investment spending through May 4, 2022 Experiential Portfolio 281 Properties; 42 Operators Occupancy at 96% $5.9B Total Investments* Total Portfolio Snapshot ~$6.5B Total Investments* 355 Properties Occupancy at 96% Q1 Investment Spending $24.4M YTD 2022 Spending $90.5M**

6 THEATRES *BoxOfficeMojo $0.0 $1.5 Jan Feb Mar 2021 2022 Not a Demand Issue, It’s a Supply Issue $360M+ Domestic Gross The Batman Q1 2022 Highest Grossing Movie* Box Office* Recovery (in billions, cumulative) Solid Film Slate for 2022 $237M $1.33B

7 PORTFOLIO UPDATE Ski Revenue growth across portfolio Eat & Play Strong attendance and revenue in Q1 Attractions & Cultural Most properties closed seasonally Q1; anticipate solid demand in 2022 Experiential Lodging Continued growth in occupancy & ADR Fitness & Wellness Memberships up in Q1 over prior year

8 INVESTMENT SPENDING *YTD investment spending through May 4, 2022 Return to Growth • Seeing increased opportunities throughout most verticals • Acquired Movement Climbing-Fitness-Yoga in Chicago for $19.9M • Subsequent to quarter end, acquired Cajun Palms RV park in JV with Northgate Resorts o EPR has 85% ownership interest; overall investment exceeds $60M • $90.5M investments funded in 2022* 2022 Investment Spending Guidance $500M-$700M

FINANCIAL REVIEW

1 0 (In millions except per-share data) *See Supplemental Operating and Financial Data for the applicable periods for definitions and calculations of these non-GAAP measures FINANCIAL HIGHLIGHTS Financial Performance Quarter ended March 31, 2022 2021 $ Change % Change Total Revenue $157.5 $111.8 45.7 41% Net Income (Loss) – Common 36.2 (2.7) 38.9 1,441% FFO as adj. – Common* 83.2 35.6 47.6 134% AFFO – Common* 87.8 38.9 48.9 126% Net Income (Loss)/share – Common 0.48 (0.04) 0.52 1,300% FFO/share - Common, as adj.* 1.10 0.48 0.62 129% AFFO/share - Common* 1.16 0.52 0.64 123%

1 1 FINANCIAL HIGHLIGHTS Key Ratios Quarter ended March 31, 2022 Fixed charge coverage 3.2x Debt service coverage 3.7x Interest coverage 3.7x Net Debt to Adjusted EBITDA 5.1x Net Debt to Gross Assets 38% AFFO payout 67% *See Supplemental Operating and Financial Data for the applicable periods for definitions and calculations of these non-GAAP measures

1 2 Rating Agency Upgrade • During March 2022, Fitch issued an investment grade rating on both the Company and its unsecured debt with a stable outlook • EPR’s unsecured debt now has investment grade ratings from Fitch, S&P and Moody’s Debt • $2.8B total debt; all fixed rate or fixed through int. rate swaps at wtd. avg. = 4.3% • Weighted avg. debt maturity of six years; no scheduled debt maturities until 2024 Liquidity Position at 3/31/22 • $323.8M unrestricted cash • No balance on $1B revolver CAPITAL MARKETS UPDATE

1 3 2022 GUIDANCE *See Supplemental Operating and Financial Data - First Quarter Ended March 31, 2022 for definition of this non-GAAP measure FFO AS ADJUSTED PER SHARE* Revised Guidance $4.39 - $4.55 Prior Guidance $4.30 - $4.50 INVESTMENT SPENDING Guidance $500M - $700M DISPOSITION PROCEEDS Guidance $0M - $10M

CLOSING COMMENTS

EPR Properties 909 Walnut Street, Suite 200 Kansas City, MO 64106 www.eprkc.com 816-472-1700 info@eprkc.com