Epr Properties · NYSE:EPR
Epr Properties — Q3 2026 Earnings Presentation
18 slides from Epr Properties's earnings presentation, October 2026
Slide 1: Earnings Call Presentation Q3 2026
EARNINGS CALL PRESENTATION Q3 2026 EPR ta Properties" xperiential REIT®
Slide 2: Disclaimer
DISCLAIMER The financial results in this document reflect preliminary, unaudited results, which are not final until the Company’s Annual Report on Form 10-K is filed. With the exception of historical information, certain statements contained or incorporated by reference herein may contain forward-lo
Slide 3: Introductory Comments
INTRODUCTORY COMMENTS
Slide 4: Quarterly Highlights
QUARTERLY HIGHLIGHTS Continued Growth Acceleration & Momentum Across the Business Growth: Q3 revenue up 12% & FFO as adjusted per share up 8.8% Strong Investments Broadened Experiential Portfolio • Established important new relationships • Entered Live Venues category with Live Nation in Portland, O
Slide 5: Portfolio
PORTFOLIO
Slide 6: Investment Activity
INVESTMENT ACTIVITY Invested $172.4M in Q3 at average initial cash yield of ~8.3%, bringing YTD to $664.5M Firsts for EPR: first investment in live performance venue with Live Nation & first acquisition of Life Time fitness center Live Nation Steelhead Life Time Irvine Investments Diversified Across
Slide 7: Pipeline & Cost of Capital
PIPELINE & COST OF CAPITAL PIPELINE Breadth unparalleled in recent memory COST OF CAPITAL 3 factors in our favor • Rate protection prior to closing; provides buffer during market volatility • We generally compete with alternative forms of capital; debt capital reprices faster, so clients are recepti
Slide 8: Portfolio Overview
PORTFOLIO OVERVIEW Overall Portfolio $7.6B Gross Investments 350 Properties 99% Leased/Operated Experiential Portfolio Education Portfolio 96% of ABR 4% of ABR 296 Properties 54 Properties 61 Operators 4 Operators 99% Leased/Operated 100% Leased/Operated 8
Slide 9: Portfolio Update
PORTFOLIO UPDATE Portfolio Coverage of 2.1x Demonstrates Enduring Preference for Experiences Over Things Our Portfolio: diversified experiences appealing to many generations & incomes Theatres: content drives performance; box office up ~20% YTD* • Gen Z are 40% of moviegoers and Gen Alpha prefers th
Slide 10: Financial Review
FINANCIAL REVIEW
Slide 11: Financial Highlights: Financial Performance (Quarter)
FINANCIAL HIGHLIGHTS FINANCIAL PERFORMANCE QUARTER ENDED SEPTEMBER 30, 2026 2025 $ Change % Change Total Revenue $204.1 $182.3 $21.8 12.0% Net Income – Common 94.1 60.6 33.6 55.5% FFO as adj. – Common* 117.4 106.4 11.0 10.4% AFFO – Common* 121.1 108.6 12.4 11.4% Net Income/share – Common 1.22 .79 0.
Slide 12: Financial Highlights: Financial Performance (Nine Months)
FINANCIAL HIGHLIGHTS FINANCIAL PERFORMANCE NINE MONTHS ENDED SEPTEMBER 30, 2026 2025 $ Change % Change Total Revenue $581.4 $535.4 $46.0 8.6% Net Income – Common 211.8 189.9 21.9 11.5% FFO as adj. – Common* 325.8 295.4 30.4 10.3% AFFO – Common* 333.7 300.5 33.1 11.0% Net Income/share – Common 2.75 2
Slide 13: Financial Highlights: Financial Performance (Coverage Ratios)
FINANCIAL HIGHLIGHTS FINANCIAL PERFORMANCE QUARTER ENDED SEPTEMBER 30, 2026 Fixed charge coverage 3.5x Debt service coverage 4.0x Interest coverage 4.0x Proforma Net Debt to Adjusted 4.8x EBITDAre Proforma Net Debt to Annualized 4.9x Adjusted EBITDAre Proforma Net Debt to Gross Assets 40% AFFO payou
Slide 14: Capital Markets Update
CAPITAL MARKETS UPDATE Debt › $3.3B total debt; $2.8B fixed rate at overall weighted avg. = 4.4% › Repaid in full $179.6M of Series B senior unsecured notes issued in private placement transaction New $1.6B Credit Facility › Extends maturity date to 2030 (with two six-month extension options) and re
Slide 15: 2026 Guidance
2026 GUIDANCE REVISED PRIOR GUIDANCE GUIDANCE FFO as Adjusted per share* $5.49 - $5.57 $5.41 - $5.57 Increase at Midpoint vs. Prior Year 8.0% 7.2% Investment Spending $675M - $725M $600M - $700M Disposition Proceeds $86M $50M - $100M Percentage Rent & Participating Interest $21.5M - $24.5M $18.5M -
Slide 16: Closing Comments
CLOSING COMMENTS
Slide 17: Questions
QUESTIONS
Slide 18: EPR Properties
EPR Properties* The Diversified Experiential REIT’ 909 WALNUT ST., SUITE 200 KANSAS CITY, MO 64106 eprkc.com