Slide 1: Second Quarter 2021 Earnings Call
SECOND QUARTER 2021 EARNINGS CALL July 28, 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 3
Slide 4: Portfolio Update
PORTFOLIO UPDATE 4
Slide 5: Portfolio Overview
5 PORTFOLIO OVERVIEW Education Portfolio 74 Properties; 8 Operators Occupancy at 100% * See Supplemental Operating and Financial Data – Second Quarter and Six Months Ended June 30, 2021 for the applicable periods for definitions and calculations of these non-GAAP measures Experiential Portfolio 283
Slide 6: Portfolio Update: Theatre reopening and box office
6 Executed new leases – 5 previously vacant theatres were leased, all theatres which will stay theatres are now leased Consumers returning to theatres – With new content releases starting in March, box office continues to increase each month with a full slate for the remainder of 2021 Theatre Exhibi
Slide 7: Portfolio Update: Strong, productive theatre portfolio
7 PORTFOLIO UPDATE * Through July 1, 2021 3% of theatres 8% of box office 96% of EPR theatres in top 50% of country Expanded amenities in most locations 58% have reclining seats 77% have enhanced food and beverage and/or alcohol 58% have either IMAX, other large format premium screens, or both Outsi
Slide 8: Portfolio Update: Other Experiential and Education
8 PORTFOLIO UPDATE Other Experiential and Education: 100% open as of July 26 Ski • Skier visits up 2% over 3-yr avg. • Increase in first-time skiers, broadening base Eat & Play • Attendance at or above 2019 levels • Expect robust demand through summer Attractions & Cultural • Seeing strong demand •
Slide 9: Asset Management
9 ASSET MANAGEMENT Capital Recycling • Sold one theatre property for $14.9M Return to Growth • Investment professionals looking at new opportunities Collections and Deferral Agreements • Q2 collections were 85% of contractual cash revenue • YTD through July 26, collections of deferred rent and inter
Slide 10: Financial Review
FINANCIAL REVIEW 1 0
Slide 11: Financial Highlights
1 1 (In millions except per-share data) * See Supplemental Operating and Financial Data – Second Quarter and Six Months Ended June 30, 2021 for the applicable periods for definitions and calculations of these non-GAAP measures FINANCIAL HIGHLIGHTS Financial Performance* Quarter ended June 30, 2021 2
Slide 12: Balance sheet, liquidity and dividend resumption
1 2 Net Debt to Gross Assets was 39% at 6/30/21 • $3.1B total debt; all fixed rate or fixed through int. rate swaps at wtd. avg. = 4.6% • Weighted avg. debt maturity ~5 years; No scheduled debt maturities until 2022 when only the revolving credit facility matures (zero outstanding) Early Termination
Slide 13: Introducing 2021 Guidance
1 3 INTRODUCING 2021 GUIDANCE Q3 2021 Range in $ % of Contractual Cash Rev.1 Revenue recognition $117M - $122M 84% - 88% Collections $114M - $120M 82% - 86% (1) Contractual cash revenue is an operational measure and represents aggregate cash payments for which the Company is entitled under existing
Slide 14: Closing Comments
CLOSING COMMENTS 1 4
Slide 15: EPR Properties contact details
EPR Properties 909 Walnut Street, Suite 200 Kansas City, MO 64106 www.eprkc.com 816-472-1700 info@eprkc.com