Slide 1: First Quarter 2022 Earnings Call
FIRST QUARTER 2022 EARNINGS CALL May 5, 2022
Slide 2: Forward-looking statements
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: Portfolio Update
PORTFOLIO UPDATE
Slide 5: Portfolio Overview
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 2
Slide 6: Theatres
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
Slide 7: Portfolio Update
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 pri
Slide 8: Investment Spending
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
Slide 9: Financial Review
FINANCIAL REVIEW
Slide 10: Financial Highlights
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.
Slide 11: Financial Highlights: Key Ratios
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 de
Slide 12: Capital Markets Update
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. ra
Slide 13: 2022 Guidance
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 Guidanc
Slide 14: Closing Comments
CLOSING COMMENTS
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