EHP Stands for Effective Hit Points: It's the concept of how much damage you can REALLY take before dying, without receiving any heals. This is made up of 2 things:
1)Damage Reduction Effects (Usually Armor, for physical damage)
2)Hit Points (Usually Stamina)
Say you have 51% damage reduction (Damage taken = 49%), and 100,000 Hit Points. Your EHP would be just over 200,000, as given by formula
EHP = (100/Damage Taken%) x HP
So in this case,
EHP = (100/ [100 - 51 Dmg Reduction]) x 100,000
=(100/49 Dmg Taken) x 100,000
=2.04082 x 100,000
=204,082 EHP