Eastgroup Properties Inc

• Transferred a 100% Leased Development Project in Orlando Containing 113,000 Square Feet to the Operating Portfolio

• Started Construction of Four Development Projects and One Redevelopment Project Totaling 998,000 Square Feet with Projected Total Costs of Approximately $162 Million

• Acquired Two Operating Properties Containing 531,000 Square Feet and 107 Acres of Development Land for Approximately $164 Million

• Subsequent to Quarter-End, Acquired Three Operating Properties Containing 1,031,000 Square Feet and 25 Acres of Development Land for Approximately $262 Million

Commenting on EastGroup’s performance, Marshall Loeb, CEO, stated, “The team and the portfolio performed ahead of expectations this quarter and so far this year. The leasing environment has been much more stable than headlines would lead one to expect. This activity is exciting as we begin to turn the page into 2027. Looking beyond the current environment, I remain bullish on the continuing external trends benefitting our shallow bay, last mile, high-growth market portfolio.”

Reid Dunbar, President, added, “Continued leasing momentum gave us the confidence to raise our development starts again, to $390 million for the year, and attractive opportunities allowed us to increase our acquisition guidance to $360 million. Supported by our strong balance sheet, we remain focused on deploying capital with discipline and creating long-term value for our shareholders.”

• Interest expense was $9,617,000 ($0.18 per diluted share) for the three months ended September 30, 2026, as compared to $7,685,000 ($0.14 per diluted share) for the same period of 2025, which was an increase of $0.04 per diluted share.

• Weighted average shares outstanding increased by 580,000 shares on a diluted basis for the three months ended September 30, 2026, as compared to the same period of 2025.

• PNOI was $430,826,000 ($8.02 per diluted share) for the nine months ended September 30, 2026, as compared to $389,736,000 ($7.41 per diluted share) for the same period of 2025, which was an increase of $0.61 per diluted share.

• EastGroup recognized gains on sales of real estate investments of $30,074,000 ($0.56 per diluted share) during the nine months ended September 30, 2026. There were no sales during the nine months ended September 30, 2025.

Same PNOI, Excluding Income from Lease Terminations, increased 5.3% on a straight-line basis for the three months ended September 30, 2026, compared to the same period of 2025; on a cash basis (excluding straight-line rent adjustments and amortization of above/below market rent intangibles), Same PNOI increased 7.1%. Same property average occupancy was 96.9% for the three months ended September 30, 2026, compared to 96.7% for the same period of 2025. The same property average rental rate was $9.46 for the three months ended September 30, 2026, compared to $8.99 per square foot for the same period of 2025.

On a straight-line basis, rental rates on new and renewal leases signed during the three months ended September 30, 2026 (representing 4.6% of the operating portfolio’s square footage) increased an average of 36.3%.

FFO, Excluding Gain on Involuntary Conversion and Business Interruption Claims, were $7.11 per diluted share for the nine months ended September 30, 2026, compared to $6.61 per diluted share for the same period of 2025, an increase of 7.6%.

PNOI increased by $41,090,000, or 10.5%, during the nine months ended September 30, 2026, compared to the same period of 2025. PNOI increased $23,236,000 due to same property operations (based on the same property pool), $10,426,000 due to newly developed and value-add properties, and $8,836,000 due to 2025 and 2026 acquisitions. PNOI decreased $1,677,000 due to operating properties sold in 2025 and 2026.

DIVIDENDS EastGroup declared a cash dividend of $1.75 per share of common stock in the third quarter of 2026, which represented a 12.9% increase over the previous quarter’s dividend. The third quarter dividend, which was paid on October 15, 2026, was the Company’s 187 th consecutive quarterly cash distribution to shareholders. The Company has increased or maintained its dividend for 34 consecutive years and has increased it 31 years over that period, including increases in each of the last 15 years. The annualized dividend rate of $7.00 per share represents a dividend yield of 3.5% based on the closing stock price of $201.25 on October 20, 2026.

FINANCIAL STRENGTH AND FLEXIBILITY EastGroup continues to maintain a strong and flexible balance sheet. Debt-to-total market capitalization was 14.6% at September 30, 2026. The Company’s interest and fixed charge coverage ratio was 14.7x and 14.9x for the three and nine months ended September 30, 2026, respectively. The Company’s annualized ratio of debt to earnings before interest, taxes, depreciation and amortization for real estate (“EBITDAre”) was 3.2x and 3.3x for the three and nine months ended September 30, 2026, respectively. EBITDAre and the Company’s interest and fixed charge coverage ratio are non-GAAP financial measures defined under Definitions later in this release. Refer to the schedule “Reconciliations of GAAP to Non-GAAP Measures” attached for the calculation of the Company’s interest and fixed charge coverage ratio, the debt to EBITDAre ratio, and the reconciliation of Net Income to EBITDAre.

400 W. Parkway Place, Suite 100, Ridgeland, MS 39157 | TEL: 601.354.3555 | www.eastgroup.net

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EastGroup’s projections are based on management’s current beliefs and assumptions about our business, the industry and the markets in which we operate; there are known and unknown risks and uncertainties associated with these projections. We assume no obligation to update publicly any forward-looking statements, including our Outlook for 2026, whether as a result of new information, future events or otherwise. Please refer to the “Forward-Looking Statements” disclosures included in this earnings release and “Risk Factors” disclosed in our annual and quarterly reports filed with the Securities and Exchange Commission for more information.

The following table presents the guidance range for 2026: