Epr Properties · NYSE:EPR
Epr Properties — Q1 2025 Earnings Presentation
19 slides from Epr Properties's earnings presentation, May 7, 2025
Slide 1: Earnings Call Presentation Q1 2025
EARNINGS CALL PRESENTATION Q1 2025
Slide 2: Forward-looking statements and preliminary results
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
Slide 3: Introductory Comments
INTRODUCTORY COMMENTS
Slide 4: The Experience Economy
4 Personal Consumption Expenditures on Experiential Spending Recession Periods Covid-19 Pandemic THE EXPERIENCE ECONOMY *Source: U.S. Bureau of Economic Analysis, Table 2.4.5. Personal Consumption Expenditures by Type of Product, Included in the data set are Line 210: Membership clubs, sports center
Slide 5: Portfolio
PORTFOLIO
Slide 6: Portfolio Overview
6 PORTFOLIO OVERVIEW Education Portfolio 55 Properties; 5 Operators Leased at 100%** *See Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 for definition and calculation of this non-GAAP measure **Excluding vacant properties EPR intends to sell Experiential Portfolio 276 Properties
Slide 7: Portfolio Update: Box Office Updates
7*BoxOfficeMojo PORTFOLIO UPDATE Box Office Updates* North American Box Office Gross (NABOG) rebounding • Q1 box office was $1.4B (down 11.6% vs. 2024) • Q2 has quickly offset with overperformance o A Minecraft Movie opened to $163M, both the largest opening in 2025 and the largest opening weekend e
Slide 8: Beyond Box Office: Increased F&B Spending Driving Higher Profitability
8*Based on AMC and Cinemark public filings PORTFOLIO UPDATE Beyond Box Office: Increased F&B Spending Driving Higher Profitability* % Increase 2019-2024 ~60% 26% Per Patron F&B spending Per Patron Ticket Cost Shift toward higher-margin F&B spending boosts gross profit per patron & has positive impac
Slide 9: Other Experiential Property and Operator Updates
9 Attractions & Cultural – many properties closed seasonally • Indoor Waterpark at Bavarian Inn opened in Q1 • Hotel de Glace at Valcartier celebrated 25th anniversary with usual strong performance • Santa Monica Pier adversely impacted by wildfires Fitness & Wellness • $90M expansion project at The
Slide 10: Investment Spending
1 0 INVESTMENT SPENDING Q1 Investment Spending was $37.7M 2025 Investment Spending Guidance $200M - $300M Subsequent to quarter end, made two new investments • First traditional golf investment; acquired land for $1.2M and provided $5.9M mortgage financing to Evergreen Partners for a private club in
Slide 11: Capital Recycling
1 1 Properties Sold • 10 leased early childhood education centers (ECEs) and one vacant ECE • One vacant theatre and two operating theatres • Net proceeds totaled $70.8M, recognized a net gain of $9.4M Payment in Full of Two Mortgages – received $8.1M in net proceeds for mortgages secured by two ECE
Slide 12: Financial Review
FINANCIAL REVIEW
Slide 13: Financial Highlights
1 3*See the most recently filed Supplemental Operating and Financial Data for definitions and calculations of these non-GAAP measures FINANCIAL HIGHLIGHTS (In millions except per-share data) Financial Performance Quarter ended March 31, 2025 2024 $ Change % Change Total Revenue $175.0 $167.2 $7.8 4.
Slide 14: Financial Highlights: Key Ratios
1 4 Key Ratios* Quarter ended March 31, 2025 Fixed charge coverage 3.2x Debt service coverage 3.8x Interest coverage 3.8x Net Debt to Adjusted EBITDAre 5.3x Net Debt to Annualized Adjusted EBITDAre 5.1x Net Debt to Gross Assets 39% AFFO payout 71% *See the most recently filed Supplemental Operating
Slide 15: Capital Markets Update
1 5 CAPITAL MARKETS UPDATE Debt • $2.8B total debt; $2.7B fixed rate or fixed through interest rate swaps at overall weighted avg. = 4.4% • On April 1, 2025, fully repaid $300.0M of senior unsecured notes at maturity using borrowings under our revolving credit facility • No further debt maturities i
Slide 16: 2025 Guidance
1 6 FFO AS ADJUSTED PER SHARE* Guidance $5.00 - $5.16 Prior Guidance $4.94 - $5.14 INVESTMENT SPENDING Guidance $200M - $300M DISPOSITION PROCEEDS Revised Guidance $80M - $120M Prior Guidance $25M - $75M *See the most recently filed Supplemental Operating and Financial Data for definitions and calcu
Slide 17: 2025 Guidance, Continued
1 7 OTHER INCOME Guidance $42.0M - $52.0M OTHER EXPENSE Guidance $42.0M - $52.0M PERCENTAGE RENT & PARTICIPATING INTEREST Guidance $21.5M - $25.5M Prior Guidance $18.0M - $22.0M GENERAL & ADMINISTRATIVE EXPENSE Guidance $53.0M - $56.0M Prior Guidance $52.0M - $55.0M *See the most recently filed Supp
Slide 18: Closing Comments
CLOSING COMMENTS
Slide 19: EPR Properties contact details
™wa EPR Vaan Properties’ EIT .u] The Diversified Experiential f My, EPR Properties 909 Walnut Street, Suite 200 Kansas City, MO 64106 www.eprkc.com (816) 472-1700 7 4