EPT Ski Properties, Inc. Watch

from S-3ASR 2 pages Common Shares Common Shares Par Value $0.01 This Certificate Is Transferable in Canton, Ma and New York, Ny Certificate Number Shares EPR Properties Organized Under the Laws of the State of Maryland This Certifies That Cusip 26884u 10 9 Is the Owner of See Reverse Side for Certain Definitions Fully Paid and Nonassessable Common Shares of Beneficial Interest, $0.01 Par Value Per Share, Of

from POSASR 67 pages Entertainment Properties Trust and Each of the Guarantors Named Herein Indenture Dated as of [ ], 2012 $[ ] [ ]% Senior Notes Due 2022 U.S. Bank National Association Trustee