Slide 1: Third Quarter 2021 Earnings Call
THIRD QUARTER 2021 EARNINGS CALL November 4, 2021
Slide 2: Forward-looking statements disclaimer
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 prwm EPR Properties®
Slide 4: Updated Logo & Tagline
|) UPDATED LOGO & TAGLINE EPR Properties® The Diversified Experiential REIT ™ EPR Properties*
Slide 5: Portfolio Update
PORTFOLIO UPDATE
Slide 6: Portfolio Overview
6 PORTFOLIO OVERVIEW Education Portfolio 74 Properties; 8 Operators Occupancy at 100% *See Supplemental Operating and Financial Data – Third Quarter and Nine Months Ended September 30, 2021 for definitions and calculations of these non-GAAP measures Experiential Portfolio 284 Properties; 43 Operator
Slide 7: Consumer Demand Demonstrated – Recovery continues with box office
7 Consumer Demand Demonstrated – Recovery continues with more releases driving increased box office • Q4 box office expected to total $2B* • October box office will exceed $622M**, approx. 80% of 2019 PORTFOLIO UPDATE - THEATRES *EPR Internal Research **Box Office Mojo 0% 25% 50% 75% 100% Q2 July Au
Slide 8: Portfolio Update - Theatres: Compelling 2022 Film Slate
8 PORTFOLIO UPDATE - THEATRES MISSION IMPOSSIBLE 7 Compelling 2022 Film Slate
Slide 9: Studios Return to Exclusive Theatrical Releases
9 PORTFOLIO UPDATE - THEATRES Studios Return to Exclusive Theatrical Releases • Disney announced exclusive theatrical releases for the remainder of its 2021 film slate • Warner Brothers committed to exclusive theatrical releases for 2022 Best Way for Studios to Maximize Revenue • Multi-pronged appro
Slide 10: Portfolio Update: Ski, Eat & Play, Attractions, Lodging
1 0 PORTFOLIO UPDATE Ski • Expecting strong demand, Vail reporting increased season pass sales for 2021-22 Eat & Play • Attendance at or above 2019 levels • Continued margin improvement and profitability Attractions & Cultural • Recovering demand; several locations well ahead of 2019 attendance leve
Slide 11: Investment Spending & Asset Management
1 1 INVESTMENT SPENDING & ASSET MANAGEMENT Investment Spending • Returning to growth; pursuing investments across all verticals • Acquired Jellystone Camp-Resort in Warrens, WI for $25.2M in a JV • Remainder: build-to-suit development and redevelopment in eat & play and experiential lodging categori
Slide 12: Financial Review
FINANCIAL REVIEW
Slide 13: Financial Highlights
1 3 (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 September 30, 2021 2020 $ Change % Change Total Revenue $139.6 $63.9
Slide 14: Favorable Debt Capital Market Activities
1 4 Favorable Debt Capital Market Activities • Investment Grade (IG) rating received from S&P on unsecured debt with a stable outlook, and Moody’s raised its outlook on our IG rating to stable • New $1.0B revolving credit facility that matures in October 2025 with options to extend for a total of 12
Slide 15: Cash Collections
1 5 CASH COLLECTIONS *Contractual Cash Revenue = $138.4. See definition on slide 16. **Excludes Percentage Rent and Revenue from TRSs ***See Supplemental Operating and Financial Data - Third Quarter and Nine Months Ended September 30, 2021 for definition of this non-GAAP measure Amount % of Contract
Slide 16: 2021 Guidance
1 6 2021 GUIDANCE *See Supplemental Operating and Financial Data - Third Quarter and Nine Months Ended September 30, 2021 for definition of this non-GAAP measure Q4 2021 Range in $ % of Contractual Cash Rev.1 Revenue recognition $133M - $138M 96% - 99% Collections $131M - $135M 95% - 97% (1) Contrac
Slide 17: 2021 FFO As Adjusted Per Share Guidance Reconciliation
1 7 2021 GUIDANCE *See Supplemental Operating and Financial Data - Third Quarter and Nine Months Ended September 30, 2021 for definition of this non-GAAP measure Midpoint of previous FFOAA*/share guidance range $ 2.81 Additional revenue recognition 0.12 Lower interest expense 0.06 Additional percent
Slide 18: Closing Comments
CLOSING COMMENTS
Slide 19: EPR Properties contact details
EPR Properties 909 Walnut Street, Suite 200 Kansas City, MO 64106 www.eprkc.com 816-472-1700 info@eprkc.com