Cultural

Seeking to engage consumers and create memorable experiences, cultural venues are evolving to offer immersive and interactive exhibits that keep customers coming back.

3

Properties

2%

Annualized Adjusted Revenue*

3

Operators

Combining an opportunity to experience animals, art or history with a congregate social experience, cultural venues, such as zoos, aquariums and museums, are reemerging as an entertainment option. As appreciation for the importance of leisure time is growing, cultural venues are broadening their appeal to reach a variety of customers from families with children to single Millennials to retired Baby Boomers.

Desiring to be a preeminent choice in what is now known as location-based experiences (LBE), several trends have developed among cultural venues. Many are utilizing new technology, personalizing the guest experience and implementing an element of play that was previously absent. EPR Properties identifies the locations and tenants that execute well on these trends and have a history of strong attendance.

City Museum in St. Louis is a great example of an emerging category called “Artainment” which is an art display that invites guests to interact and explore. There is an old castle to climb on and a historic Ferris Wheel on the roof combined with repurposed architectural displays and something new to discover around every corner.

*Annualized Adjusted Revenue (a non-GAAP financial measure) is Total Revenue for the quarter ended September 30, 2019, excluding public charter school total revenue, other income and pass through revenues, further adjusted for in-service projects and percentage rent and participating interest. This number is then multiplied by four to get an annual amount. See reconciliation of Annualized Adjusted Revenue to Total Revenue on Slide 17 in the Charter School Transaction Presentation in the Investor Center.