2021 FOURTH QUARTER Conference Call 888-346-0688 | ID – EastGroup February 9, 2022 11:00 a.m. Eastern Time webcast available at EastGroup.net Supplemental Information 400 W. Parkway Place, Suite 100, Ridgeland, MS 39157 | TEL: 601-354-3555 | FAX: 601-352-1441 | EastGroup.net December 31, 2021

Page 2 of 24 Table of Contents Financial Information: Consolidated Balance Sheets ..................................................................................... 3 Consolidated Statements of Income and Comprehensive Income ............................ 4 Reconciliations of GAAP to Non-GAAP Measures .................................................. 5 Consolidated Statements of Cash Flows.................................................................... 7 Same Property Portfolio Analysis ............................................................................. 8 Additional Financial Information .............................................................................. 9 Financial Statistics ..................................................................................................... 10 Capital Deployment: Development and Value-Add Properties Summary .................................................. 11 Development and Value-Add Properties Transferred to Real Estate Properties ....... 12 Acquisitions and Dispositions ................................................................................... 13 Real Estate Improvements and Leasing Costs ........................................................... 14 Property Information: Leasing Statistics and Occupancy Summary ............................................................. 15 Core Market Operating Statistics............................................................................... 16 Lease Expiration Summary ........................................................................................ 17 Top 10 Customers by Annualized Base Rent ............................................................ 18 Capitalization: Debt and Equity Market Capitalization ..................................................................... 19 Continuous Common Equity Program....................................................................... 20 Debt-to-EBITDAre Ratios ......................................................................................... 21 Other Information: Outlook for 2022 ........................................................................................................ 22 Glossary of REIT Terms ............................................................................................ 23 FORWARD-LOOKING STATEMENTS The statements and certain other information contained herein, which can be identified by the use of forward-looking terminology such as “may,” “will,” “seek,” “expects,” “anticipates,” “believes,” “targets,” “intends,” “should,” “estimates,” “could,” “continue,” “assume,” “projects” or “plans” and variations of such words or similar expressions or the negative of such words, constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby. These forward-looking statements reflect the Company’s current views about its plans, intentions, expectations, strategies and prospects, which are based on the information currently available to the Company and on assumptions it has made. Although the Company believes that its plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, the Company can give no assurance that such plans, intentions, expectations or strategies will be attained or achieved. Furthermore, these forward-looking statements should be considered as subject to the many risks and uncertainties that exist in the Company’s operations and business environment. Such risks and uncertainties could cause actual results to differ materially from those projected. These uncertainties include, but are not limited to: international, national, regional and local economic conditions; the duration and extent of the impact of the coronavirus (“COVID-19”) pandemic, including as a result of any COVID-19 variants or as affected by the efficacy of COVID-19 vaccines on our business operations or the business operations of our tenants (including their ability to timely make rent payments) and the economy generally; disruption in supply and delivery chains; the general level of interest rates and ability to raise equity capital on attractive terms; financing risks, including the risks that our cash flows from operations may be insufficient to meet required payments of principal and interest, and we may be unable to refinance our existing debt upon maturity or obtain new financing on attractive terms or at all; our ability to retain our credit agency ratings; our ability to comply with applicable financial covenants; the competitive environment in which the Company operates; fluctuations of occupancy or rental rates; potential defaults (including bankruptcies or insolvency) on or non-renewal of leases by tenants, or our ability to lease space at current or anticipated rents, particularly in light of the significant uncertainty as to when and the conditions under which current or potential tenants will be able to operate physical locations in the future; potential changes in the law or governmental regulations and interpretations of those laws and regulations, including changes in real estate laws or REIT or corporate income tax laws, and potential increases in real property tax rates; our ability to maintain our qualification as a REIT; acquisition and development risks, including failure of such acquisitions and development projects to perform in accordance with projections; natural disasters such as fires, floods, tornadoes, hurricanes and earthquakes; pandemics, epidemics or other public health emergencies, such as the outbreak of COVID-19; the terms of governmental regulations that affect us and interpretations of those regulations, including the costs of compliance with those regulations, changes in real estate and zoning laws and increases in real property tax rates; credit risk in the event of non- performance by the counterparties to our interest rate swaps; lack of or insufficient amounts of insurance; litigation, including costs associated with prosecuting or defending claims and any adverse outcomes; our ability to retain key personnel; the consequences of future terrorist attacks or civil unrest; and environmental liabilities, including costs, fines or penalties that may be incurred due to necessary remediation of contamination of properties presently owned or previously owned by us. All forward-looking statements should be read in light of the risks identified in Part I, Item 1A. Risk Factors within the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, and in its subsequent Quarterly Reports on Form 10-Q. The Company assumes no obligation to update publicly any forward-looking statements, including its Outlook for 2022, whether as a result of new information, future events or otherwise.

Page 3 of 24 Consolidated Balance Sheets (In thousands, except share and per share data) (Unaudited) December 31, 2021 December 31, 2020 ASSETS Real estate properties 3,546,711$ 3,159,497 Development and value-add properties 504,614 359,588 4,051,325 3,519,085 Less accumulated depreciation (1,035,617) (955,328) 3,015,708 2,563,757 Real estate assets held for sale 5,695 - Unconsolidated investment 7,320 7,446 Cash 4,393 21 Other assets 182,220 149,579 TOTAL ASSETS 3,215,336$ 2,720,803 LIABILITIES AND EQUITY LIABILITIES Unsecured bank credit facilities, net of debt issuance costs 207,066$ 124,194 Unsecured debt, net of debt issuance costs 1,242,570 1,107,708 Secured debt, net of debt issuance costs 2,142 78,993 Accounts payable and accrued expenses 109,760 69,573 Other liabilities 82,338 69,817 Total Liabilities 1,643,876 1,450,285 EQUITY Stockholders' Equity: Common shares; $0.0001 par value; 70,000,000 shares authorized; 41,268,846 shares issued and outstanding at December 31, 2021 and 39,676,828 at December 31, 2020 4 4 Excess shares; $0.0001 par value; 30,000,000 shares authorized; no shares issued - - Additional paid-in capital 1,886,820 1,610,053 Distributions in excess of earnings (318,056) (329,667) Accumulated other comprehensive income (loss) 1,302 (10,752) Total Stockholders' Equity 1,570,070 1,269,638 Noncontrolling interest in joint ventures 1,390 880 Total Equity 1,571,460 1,270,518 TOTAL LIABILITIES AND EQUITY 3,215,336$ 2,720,803

Page 4 of 24 Consolidated Statements of Income and Comprehensive Income (In thousands, except per share data) (Unaudited) 2021 2020 2021 2020 REVENUES Income from real estate operations 107,349$ 92,592 409,412 362,669 Other revenue 23 76 63 354 107,372 92,668 409,475 363,023 EXPENSES Expenses from real estate operations 29,557 25,863 115,078 103,368 Depreciation and amortization 33,174 30,686 127,099 116,359 General and administrative 3,623 3,384 15,704 14,404 Indirect leasing costs 103 139 700 661 66,457 60,072 258,581 234,792 OTHER INCOME (EXPENSE) Interest expense (8,072) (8,777) (32,945) (33,927) Gain on sales of real estate investments 38,859 13,145 38,859 13,145 Other 209 231 830 942 NET INCOME 71,911 37,195 157,638 108,391 Net income attributable to noncontrolling interest in joint ventures (22) (14) (81) (28) NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS 71,889 37,181 157,557 108,363 Other comprehensive income (loss) - interest rate swaps 3,778 2,693 12,054 (13,559) TOTAL COMPREHENSIVE INCOME 75,667$ 39,874 169,611 94,804 BASIC PER COMMON SHARE DATA FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS Net income attributable to common stockholders 1.76$ 0.94 3.91 2.77 Weighted average shares outstanding 40,844 39,507 40,255 39,185 DILUTED PER COMMON SHARE DATA FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS Net income attributable to common stockholders 1.75$ 0.94 3.90 2.76 Weighted average shares outstanding 41,011 39,653 40,377 39,296 Twelve Months Ended December 31,December 31, Three Months Ended

Page 5 of 24 Reconciliations of GAAP to Non-GAAP Measures (In thousands, except per share data) (Unaudited) 2021 2020 2021 2020 NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS 71,889$ 37,181 157,557 108,363 Depreciation and amortization 33,174 30,686 127,099 116,359 Company's share of depreciation from unconsolidated investment 34 34 136 137 Depreciation and amortization from noncontrolling interest - (28) - (142) Gain on sales of real estate investments (38,859) (13,145) (38,859) (13,145) FUNDS FROM OPERATIONS ("FFO") ATTRIBUTABLE TO COMMON STOCKHOLDERS 66,238$ 54,728 245,933 211,572 NET INCOME 71,911$ 37,195 157,638 108,391 Interest expense (1) 8,072 8,777 32,945 33,927 Depreciation and amortization 33,174 30,686 127,099 116,359 Company's share of depreciation from unconsolidated investment 34 34 136 137 EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION AND AMORTIZATION ("EBITDA") 113,191 76,692 317,818 258,814 Gain on sales of real estate investments (38,859) (13,145) (38,859) (13,145) EBITDA FOR REAL ESTATE ("EBITDAre") 74,332$ 63,547 278,959 245,669 DILUTED PER COMMON SHARE DATA FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS Net income attributable to common stockholders 1.75$ 0.94 3.90 2.76 FFO attributable to common stockholders 1.62$ 1.38 6.09 5.38 Weighted average shares outstanding for EPS and FFO purposes 41,011 39,653 40,377 39,296 December 31, (1) Net of capitalized interest of $2,342 and $2,089 for the three months ended December 31, 2021 and 2020, respectively; and $9,028 and $9,651 for the twelve months ended December 31, 2021 and 2020, respectively. Three Months Ended December 31, Twelve Months Ended

Page 6 of 24 Reconciliations of GAAP to Non-GAAP Measures (Continued) (In thousands) (Unaudited) 2021 2020 2021 2020 NET INCOME 71,911$ 37,195 157,638 108,391 Gain on sales of real estate investments (38,859) (13,145) (38,859) (13,145) Interest income - (15) (6) (101) Other revenue (23) (76) (63) (354) Indirect leasing costs 103 139 700 661 Depreciation and amortization 33,174 30,686 127,099 116,359 Company's share of depreciation from unconsolidated investment 34 34 136 137 Interest expense (1) 8,072 8,777 32,945 33,927 General and administrative expense (2) 3,623 3,384 15,704 14,404 Noncontrolling interest in PNOI of consolidated joint ventures (15) (41) (61) (171) PROPERTY NET OPERATING INCOME ("PNOI") 78,020 66,938 295,233 260,108 PNOI from 2020 and 2021 acquisitions (2,208) (191) (5,111) (492) PNOI from 2020 and 2021 development and value-add properties (8,471) (4,342) (26,970) (12,552) PNOI from 2020 and 2021 operating property dispositions (169) (668) (1,518) (2,691) Other PNOI 57 87 233 256 SAME PNOI (Straight-Line Basis) 67,229 61,824 261,867 244,629 Net lease termination fee income from same properties (464) (48) (1,411) (709) SAME PNOI EXCLUDING INCOME FROM LEASE TERMINATIONS (Straight-Line Basis) 66,765 61,776 260,456 243,920 Straight-line rent adjustments for same properties (1,060) 197 (3,685) (324) Acquired leases — market rent adjustment amortization for same properties (115) (315) (640) (1,375) SAME PNOI EXCLUDING INCOME FROM LEASE TERMINATIONS (Cash Basis) 65,590$ 61,658 256,131 242,221 Twelve Months Ended December 31, December 31, (1) Net of capitalized interest of $2,342 and $2,089 for the three months ended December 31, 2021 and 2020, respectively; and $9,028 and $9,651 for the twelve months ended December 31, 2021 and 2020, respectively. (2) Net of capitalized development costs of $2,402 and $1,637 for the three months ended December 31, 2021 and 2020, respectively; and $7,713 and $6,689 for the twelve months ended December 31, 2021 and 2020, respectively. Three Months Ended

Page 7 of 24 Consolidated Statements of Cash Flows (In thousands) (Unaudited) 2021 2020 OPERATING ACTIVITIES Net income 157,638$ 108,391 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 127,099 116,359 Stock-based compensation expense 7,511 6,579 Gain on sales of real estate investments (38,859) (13,145) Gain on casualties and involuntary conversion on real estate assets - (161) Changes in operating assets and liabilities: Accrued income and other assets (11,572) (4,615) Accounts payable, accrued expenses and prepaid rent 13,298 (18,851) Other 1,377 1,728 NET CASH PROVIDED BY OPERATING ACTIVITIES 256,492 196,285 INVESTING ACTIVITIES Development and value-add properties (418,855) (195,446) Purchases of real estate (108,149) (49,199) Real estate improvements (36,665) (33,131) Net proceeds from sales of real estate investments 44,260 21,565 Leasing commissions (33,301) (17,516) Proceeds from casualties and involuntary conversion on real estate assets - 242 Repayments on mortgage loans receivable - 1,679 Changes in accrued development costs 21,678 (5,339) Changes in other assets and other liabilities 1,769 (11,111) NET CASH USED IN INVESTING ACTIVITIES (529,263) (288,256) FINANCING ACTIVITIES Proceeds from unsecured bank credit facilities 625,520 625,387 Repayments on unsecured bank credit facilities (541,310) (613,097) Proceeds from unsecured debt 175,000 275,000 Repayments on unsecured debt (40,000) (105,000) Repayments on secured debt (76,920) (54,306) Debt issuance costs (2,678) (1,090) Distributions paid to stockholders (not including dividends accrued) (131,759) (119,765) Proceeds from common stock offerings 273,097 90,721 Other (3,807) (6,082) NET CASH PROVIDED BY FINANCING ACTIVITIES 277,143 91,768 INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 4,372 (203) CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 21 224 CASH AND CASH EQUIVALENTS AT END OF YEAR 4,393$ 21 SUPPLEMENTAL CASH FLOW INFORMATION Cash paid for interest, net of amounts capitalized of $9,028 and $9,651 for 2021 and 2020, respectively 31,658$ 32,362 Cash paid for operating lease liabilities 1,707 1,476 NON-CASH OPERATING ACTIVITY Operating lease liabilities arising from obtaining right of use assets 13,056$ 495 Twelve Months Ended December 31,

Page 8 of 24 Same Property Portfolio Analysis (In thousands) (Unaudited) 2021 2020 % Change 2021 2020 % Change Same Property Portfolio (1) Square feet as of period end 41,020 41,020 41,020 41,020 Average occupancy 98.0% 97.5% 0.5% 97.6% 97.0% 0.6% Occupancy as of period end 98.1% 97.8% 0.3% 98.1% 97.8% 0.3% Same Property Portfolio Analysis (Cash Basis) (1) Income from real estate operations 92,178$ 85,961 7.2% 360,879$ 340,637 5.9% Less cash received for lease terminations (544) (61) (1,631) (769) Income excluding lease termination income 91,634 85,900 6.7% 359,248 339,868 5.7% Expenses from real estate operations (26,044) (24,242) 7.4% (103,117) (97,647) 5.6% PNOI excluding income from lease terminations 65,590$ 61,658 6.4% 256,131$ 242,221 5.7% Same Property Portfolio Analysis (Straight-Line Basis) (1) Income from real estate operations 93,273$ 86,066 8.4% 364,984$ 342,276 6.6% Less cash received for lease terminations (544) (61) (1,631) (769) Add straight-line rent write-offs for lease terminations 80 13 220 60 Income excluding lease termination income 92,809 86,018 7.9% 363,573 341,567 6.4% Expenses from real estate operations (26,044) (24,242) 7.4% (103,117) (97,647) 5.6% PNOI excluding income from lease terminations 66,765$ 61,776 8.1% 260,456$ 243,920 6.8% (1) Includes properties which were included in the operating portfolio for the entire period of 1/1/20 through 12/31/21. December 31, December 31, Three Months Ended Twelve Months Ended

Page 9 of 24 Additional Financial Information (In thousands) (Unaudited) 2021 2020 2021 2020 SELECTED INCOME STATEMENT INFORMATION Straight-line rent income adjustment 2,187$ 1,154 8,698 4,888 Recoveries (reserves) for uncollectible straight-line rent 73 (774) 518 (1,795) Net straight-line rent adjustment 2,260 380 9,216 3,093 Cash received for lease terminations 544 61 1,631 769 Less straight-line rent write-offs (80) (13) (220) (60) Net lease termination fee income 464 48 1,411 709 Recoveries (reserves) for uncollectible cash rent 56 (323) (43) (968) Stock-based compensation expense (1,671) (1,546) (7,511) (6,579) Debt issuance costs amortization (334) (373) (1,296) (1,418) Indirect leasing costs (103) (139) (700) (661) Gain on casualties and involuntary conversion (1) - - - 161 Acquired leases - market rent adjustment amortization 344 368 1,048 1,432 2021 2020 2021 2020 WEIGHTED AVERAGE COMMON SHARES Weighted average common shares 40,844 39,507 40,255 39,185 BASIC SHARES FOR EARNINGS PER SHARE ("EPS") 40,844 39,507 40,255 39,185 Potential common shares: Unvested restricted stock 167 146 122 111 DILUTED SHARES FOR EPS AND FFO 41,011 39,653 40,377 39,296 (1) Included in Other revenue on the Consolidated Statements of Income and Comprehensive Income; included in FFO. (Items below represent increases or (decreases) in FFO) December 31, Three Months Ended Three Months Ended December 31, Twelve Months Ended December 31, Twelve Months Ended December 31,

Page 10 of 24 Financial Statistics ($ in thousands, except per share data) (Unaudited) 2021 2020 2019 2018 2017 ASSETS/MARKET CAPITALIZATION Assets 3,215,336$ 2,720,803 2,546,078 2,131,705 1,953,221 Equity Market Capitalization 9,403,107 5,477,783 5,164,306 3,348,269 3,071,927 Total Market Capitalization (Debt and Equity) (1) 10,859,473 6,791,879 6,350,438 4,458,037 4,183,620 Shares Outstanding - Common 41,268,846 39,676,828 38,925,953 36,501,356 34,758,167 Price per share 227.85$ 138.06 132.67 91.73 88.38 FFO CHANGE FFO per diluted share (2) 6.09$ 5.38 4.98 4.66 4.25 Change compared to same period prior year 13.2% 8.0% 6.9% 9.6% 6.3% COMMON DIVIDEND PAYOUT RATIO Dividend distribution 3.58$ 3.08 2.94 2.72 2.52 FFO per diluted share (2) 6.09 5.38 4.98 4.66 4.25 Dividend payout ratio 59% 57% 59% 58% 59% COMMON DIVIDEND YIELD Dividend distribution 3.58$ 3.08 2.94 2.72 2.52 Price per share 227.85 138.06 132.67 91.73 88.38 Dividend yield 1.57% 2.23% 2.22% 2.97% 2.85% FFO MULTIPLE FFO per diluted share (2) 6.09$ 5.38 4.98 4.66 4.25 Price per share 227.85 138.06 132.67 91.73 88.38 Multiple 37.41 25.66 26.64 19.68 20.80 INTEREST & FIXED CHARGE COVERAGE RATIO EBITDAre 278,959$ 245,669 221,517 200,788 180,214 Interest expense 32,945 33,927 34,463 35,106 34,775 Interest and fixed charge coverage ratio 8.47 7.24 6.43 5.72 5.18 DEBT-TO-EBITDAre RATIO Debt 1,451,778$ 1,310,895 1,182,602 1,105,787 1,108,282 EBITDAre 278,959 245,669 221,517 200,788 180,214 Debt-to-EBITDAre ratio 5.20 5.34 5.34 5.51 6.15 Adjusted debt-to-pro forma EBITDAre ratio 3.83 4.43 3.92 4.73 5.45 DEBT-TO-TOTAL MARKET CAPITALIZATION (1) 13.4% 19.3% 18.7% 24.9% 26.6% ISSUER RATINGS (3) Issuer Rating Outlook Moody's Investors Service Baa2 Stable (1) Before deducting unamortized debt issuance costs. (3) A security rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time by the assigning rating agency. (2) In connection with the Company's adoption of the Nareit Funds from Operations White Paper - 2018 Restatement, the Company now excludes from FFO the gains and losses on sales of non-operating real estate and assets incidental to the Company's business and therefore, adjusted the prior years' results to conform to the updated definition of FFO. Years Ended

Page 11 of 24 Development and Value-Add Properties Summary ($ in thousands) (Unaudited) Anticipated 4th Qtr Cumulative Projected Conversion % Leased Square Feet (SF) 2021 at 12/31/21 Total Costs Date (1) 2/7/22 Lease-up Access Point 1 (2) Greenville, SC 156,000 134$ 12,522 13,300 01/22 100% Access Point 2 (2) Greenville, SC 159,000 329 11,631 13,100 05/22 100% Grand Oaks 75 3 Tampa. FL 136,000 151 10,192 12,400 07/22 92% Horizon West 2 & 3 Orlando, FL 210,000 626 17,190 19,200 09/22 35% Siempre Viva 3-6 (2) San Diego, CA 547,000 132,688 132,688 135,600 12/22 65% Total Lease-up 1,208,000 133,928 184,223 193,600 72% Wgt Avg % Lease-Up: Projected Stabilized Yield (3) 6.0% Under Construction Speed Distribution Center San Diego, CA 519,000 13,852 67,818 88,600 03/22 100% SunCoast 12 Fort Myers, FL 79,000 2,075 4,178 8,000 06/22 100% CreekView 9 & 10 Dallas, TX 145,000 3,765 11,336 17,200 07/22 100% Steele Creek 8 Charlotte, NC 72,000 728 2,728 8,400 08/22 100% Basswood 1 & 2 Fort Worth, TX 237,000 3,082 15,229 22,100 02/23 12% Gateway 3 Miami, FL 133,000 4,205 13,166 19,100 04/23 0% Grand Oaks 75 4 Tampa. FL 185,000 2,692 6,378 17,900 04/23 0% Tri-County Crossing 5 San Antonio, TX 105,000 1,926 5,600 10,300 04/23 0% Americas Ten 2 El Paso, TX 168,000 5,445 9,100 14,100 05/23 0% Grand West Crossing 1 Houston, TX 121,000 5,068 8,869 15,700 05/23 0% 45 Crossing Austin, TX 177,000 4,380 17,060 26,200 06/23 83% McKinney 3 & 4 Dallas, TX 212,000 5,073 10,438 26,300 06/23 0% Ridgeview 3 San Antonio, TX 88,000 3,826 5,804 10,700 06/23 0% Tri-County Crossing 6 San Antonio, TX 124,000 1,263 3,782 9,900 06/23 0% LakePort 4 & 5 Dallas, TX 177,000 7,938 7,938 22,400 08/23 0% I-20 West Business Center Atlanta, GA 155,000 838 2,964 14,200 10/23 0% Total Under Construction 2,697,000 66,156 192,388 331,100 37% Wgt Avg % Under Construction: Projected Stabilized Yield (3) 6.8% 48% Wgt Avg % Development: Projected Stabilized Yield (3) 6.9% Value-Add: Projected Stabilized Yield (3) 5.2% Prospective Development Acres Projected SF Fort Myers, FL 42 543,000 220 8,298 Miami, FL 17 243,000 129 14,331 Orlando, FL 107 1,278,000 803 26,238 Tampa, FL 2 32,000 - 825 Atlanta, GA 64 580,000 5,058 5,058 Jackson, MS 3 28,000 - 706 Charlotte, NC 181 1,387,000 12,443 15,104 Greenville, SC 59 400,000 51 1,736 Austin, TX 22 274,000 6,431 6,431 Dallas, TX (4) 26 172,000 (6,566) 8,398 Fort Worth, TX 50 652,000 195 15,327 Houston, TX 98 1,293,000 6,710 24,833 San Antonio, TX 6 55,000 10 718 Total Prospective Development 677 6,937,000 25,484 128,003 Total Development and Value-Add Properties 677 10,842,000 225,568$ 504,614 (1) Development properties will transfer to the operating portfolio at the earlier of 90% occupancy or one year after shell completion. Value-add properties will transfer at the earlier of 90% occupancy or one year after acquisition. (2) These value-add projects were acquired by EastGroup. (3) Weighted average yield based on estimated annual property net operating income on a straight-line basis at 100% occupancy divided by projected total costs. (4) Negative amount represents land inventory costs transferred to Under Construction. Costs Incurred

Page 12 of 24 Development and Value-Add Properties Transferred to Real Estate Properties ($ in thousands) (Unaudited) 4th Qtr Cumulative Conversion % Leased Square Feet (SF) 2021 at 12/31/21 Date 2/7/22 1st Quarter Gilbert Crossroads A & B Phoenix, AZ 140,000 1$ 16,970 01/21 100% CreekView 7 & 8 Dallas, TX 137,000 (4) 17,687 03/21 100% Hurricane Shoals 3 Atlanta, GA 101,000 (2) 10,331 03/21 100% Northpoint 200 (1) Atlanta, GA 79,000 (3) 6,890 03/21 100% Rancho Distribution Center (1) Los Angeles, CA 162,000 - 27,645 03/21 100% 619,000 (8) 79,523 2nd Quarter World Houston 44 Houston, TX 134,000 106 9,232 05/21 100% Gateway 4 Miami, FL 197,000 962 24,724 06/21 100% Interstate Commons 2 (1) Phoenix, AZ 142,000 19 12,344 06/21 100% Settlers Crossing 3 & 4 Austin, TX 173,000 (5) 19,995 06/21 100% SunCoast 7 Fort Myers, FL 77,000 436 8,575 06/21 100% Tri-County Crossing 3 & 4 San Antonio, TX 203,000 109 16,175 06/21 100% 926,000 1,627 91,045 3rd Quarter Cherokee 75 Business Center 2 (1) Atlanta, GA 105,000 10 9,312 07/21 100% Northwest Crossing 1-3 Houston, TX 278,000 741 24,747 09/21 81% 383,000 751 34,059 4th Quarter Ridgeview 1 & 2 San Antonio, TX 226,000 1,435 20,549 10/21 100% Gilbert Crossroads C & D Phoenix, AZ 178,000 2,724 23,019 12/21 100% LakePort 1-3 Dallas, TX 194,000 1,060 24,192 12/21 100% Steele Creek 10 Charlotte, NC 162,000 287 11,044 12/21 100% 760,000 5,506 78,804 Total Transferred to Real Estate Properties 2,688,000 7,876$ 283,431 Projected Stabilized Yield (2) 7.2% 98% Wgt Avg % (1) These value-add projects were acquired by EastGroup. (2) Weighted average yield based on estimated annual property net operating income on a straight-line basis at 100% occupancy divided by projected total costs. Costs Incurred

Page 13 of 24 Acquisitions and Dispositions Through December 31, 2021 ($ in thousands) (Unaudited) Date Property Name Location Size Purchase Price (1) 1st Quarter 01/15/21 Access Point 1 Greenville, SC 156,000 SF 10,501$ (2) 01/21/21 Northpoint 200 Atlanta, GA 79,000 SF 6,516 (3) 2nd Quarter 05/19/21 Access Point 2 Greenville, SC 159,000 SF 10,743 (2) 06/03/21 Blairs Bridge Phase 2 Land Atlanta, GA 15.1 Acres 289 06/10/21 Southpark Distribution Center 2 Phoenix, AZ 79,000 SF 9,177 06/17/21 Cherokee 75 Business Center 2 Atlanta, GA 105,000 SF 8,837 (3) 3rd Quarter 07/28/21 45 Crossing Land Austin, TX 26.8 Acres 10,028 08/16/21 Hillside Land Greenville, SC 58.7 Acres 1,593 08/26/21 DFW Global Logistics Centre Dallas, TX 611,000 SF 89,829 09/23/21 Progress Center 3 Atlanta, GA 50,000 SF 5,000 4th Quarter 10/12/21 Skyway Logistics Park Land Charlotte, NC 157.7 Acres 12,038 10/15/21 Texas Avenue Austin, TX 20,000 SF 4,143 (4) 11/10/21 Cass White Land Atlanta, GA 38.0 Acres 2,923 12/01/21 Siempre Viva Distribution Center 3-6 San Diego, CA 547,000 SF 134,479 (2) 12/01/21 Stonefield 35 Land Austin, TX 21.7 Acres 6,031 12/10/21 Springwood Business Park Land Houston, TX 21.8 Acres 6,208 12/17/21 Riverside Parkway Land Atlanta, GA 26.0 Acres 1,955 1,806,000 SF Total Acquisitions 365.8 Acres 320,290$ Date Property Name Location Size Gross Sales Price 1st Quarter None 2nd Quarter None 3rd Quarter None 4th Quarter 11/09/21 Jetport Commerce Park Tampa, FL 284,000 SF 45,100$ 38,859 (5) (2) Value-add property acquisition; included in Development and value-add properties on the Consolidated Balance Sheets. (1) Represents acquisition price plus closing costs. Realized Gain (3) Value-add property in the development stage at date of purchase; property transferred to Real estate properties after becoming at least 90% occupied. (5) Included in Gain on sales of real estate investments on the Consolidated Statements of Income and Comprehensive Income; not included in FFO. DISPOSITIONS ACQUISITIONS (4) Real estate properties acquisition that includes a 20,000 square foot building on 8.8 acres of land. The building is currently being leased through December 2022; however, once the lease expires, the Company plans to tear down the existing building and re-develop the site.

Page 14 of 24 Real Estate Improvements and Leasing Costs (In thousands) (Unaudited) REAL ESTATE IMPROVEMENTS 2021 2020 2021 2020 Upgrade on acquisitions 969$ 16 1,337 298 Tenant improvements: New tenants 5,087 2,941 13,603 11,811 Renewal tenants 1,142 881 3,935 3,284 Other: Building improvements 3,119 1,777 8,044 4,962 Roofs 263 3,504 8,007 8,529 Parking lots 700 129 1,570 568 Other 546 243 1,399 803 TOTAL REAL ESTATE IMPROVEMENTS (1) 11,826$ 9,491 37,895 30,255 CAPITALIZED LEASING COSTS (Principally Commissions) Development and value-add 3,352$ 1,350 12,280 5,223 New tenants 1,762 1,347 10,990 5,732 Renewal tenants 3,615 812 10,111 7,244 TOTAL CAPITALIZED LEASING COSTS (2)(3) 8,729$ 3,509 33,381 18,199 (1) Reconciliation of Total Real Estate Improvements to Real Estate Improvements on the Consolidated Statements of Cash Flows: 2021 2020 Total Real Estate Improvements 37,895$ 30,255 Change in real estate property payables (26) (373) Change in construction in progress (1,204) 3,249 36,665$ 33,131 (2) Included in Other Assets on the Consolidated Balance Sheets. (3) Reconciliation of Total Capitalized Leasing Costs to Leasing Commissions on the Consolidated Statements of Cash Flows: 2021 2020 Total Capitalized Leasing Costs 33,381$ 18,199 Change in leasing commissions payables (80) (683) 33,301$ 17,516$ Twelve Months Ended December 31, Leasing Commissions on the Consolidated Statements of Cash Flows December 31, Real Estate Improvements on the Consolidated Statements of Cash Flows Twelve Months Ended December 31, Twelve Months EndedThree Months Ended December 31,

Page 15 of 24 Leasing Statistics and Occupancy Summary (Unaudited) Three Months Ended Number of Square Feet Weighted Rental Change Rental Change PSF Tenant PSF Leasing PSF Total December 31, 2021 Leases Signed Signed Average Term Straight-Line Basis Cash Basis Improvement (1) Commission (1) Leasing Cost (1) (In Thousands) (In Years) New Leases (2) 43 694 4.9 34.4% 23.7% 2.61$ 2.57$ 5.18$ Renewal Leases 53 1,784 5.0 30.2% 15.6% 0.84 2.06 2.90 Total/Weighted Average 96 2,478 5.0 31.5% 18.0% 1.33$ 2.20$ 3.53$ Per Year 0.27$ 0.44$ 0.71$ Weighted Average Retention (3) 72.0% Twelve Months Ended Number of Square Feet Weighted Rental Change Rental Change PSF Tenant PSF Leasing PSF Total December 31, 2021 Leases Signed Signed Average Term Straight-Line Basis Cash Basis Improvement (1) Commission (1) Leasing Cost (1) (In Thousands) (In Years) New Leases (2) 183 3,764 5.7 33.1% 20.6% 3.93$ 3.08$ 7.01$ Renewal Leases 223 6,025 4.4 29.9% 16.8% 0.89 1.72 2.61 Total/Weighted Average 406 9,789 4.9 31.2% 18.4% 2.06$ 2.24$ 4.30$ Per Year 0.42$ 0.46$ 0.88$ Weighted Average Retention (3) 67.6% 12/31/21 09/30/21 06/30/21 03/31/21 12/31/20 Percentage Leased 98.7% 98.8% 98.3% 98.3% 98.0% Percentage Occupied 97.4% 97.6% 96.8% 97.2% 97.3% (1) Per square foot (PSF) amounts represent total amounts for the life of the lease, except as noted for the Per Year amounts. (2) Does not include leases with terms less than 12 months and leases for first generation space on properties acquired or developed by EastGroup. (3) Calculated as square feet of renewal leases signed during the quarter / square feet of leases expiring during the quarter (not including early terminations or bankruptcies).

Page 16 of 24 Core Market Operating Statistics December 31, 2021 (Unaudited) Total Square Feet % Annualized % % Straight-Line Cash Straight-Line Cash Straight-Line Cash Straight-Line Cash of Properties of Total Base Rent (1) Leased Occupied 2022 (2) 2023 Basis Basis (4) Basis Basis (4) Basis Basis (4) Basis Basis (4) Florida Tampa 4,212,000 9.0% 8.3% 97.6% 97.6% 552,000 844,000 5.2% 4.7% 6.6% 6.3% 28.5% 14.5% 25.9% 13.7% Orlando 3,685,000 7.9% 8.3% 98.4% 98.4% 777,000 483,000 2.6% 3.8% 1.6% 2.4% 33.0% 15.3% 21.9% 10.3% Jacksonville 2,273,000 4.8% 3.7% 100.0% 95.4% 587,000 414,000 1.0% 1.9% 6.0% 6.5% 21.8% 8.2% 23.7% 12.6% Miami/Fort Lauderdale 1,656,000 3.5% 4.0% 97.8% 88.2% 82,000 237,000 9.0% 10.6% 3.3% 5.2% 28.8% 21.8% 25.4% 15.4% Fort Myers 626,000 1.3% 1.7% 100.0% 100.0% 74,000 105,000 1.9% 3.1% 1.7% 4.1% N/A N/A 18.2% 6.3% 12,452,000 26.5% 26.0% 98.4% 96.3% 2,072,000 2,083,000 4.0% 4.6% 4.2% 4.8% 28.6% 14.5% 24.4% 12.8% Texas Houston 6,208,000 13.2% 12.0% 95.9% 94.6% 828,000 897,000 1.3% -1.8% -0.4% -0.3% 23.5% 14.8% 8.2% -0.7% Dallas 4,717,000 10.0% 9.4% 100.0% 98.6% 431,000 645,000 4.6% 3.0% 4.4% 3.9% 33.8% 19.1% 26.8% 15.5% San Antonio 4,093,000 8.7% 8.8% 98.2% 94.9% 398,000 673,000 5.7% 6.7% 4.3% 4.0% 13.0% 4.3% 14.9% 5.5% Austin 1,146,000 2.4% 3.1% 99.1% 99.1% 119,000 231,000 2.9% 4.3% 8.0% 11.1% 43.5% 38.6% 36.6% 30.8% El Paso 957,000 2.0% 1.5% 100.0% 100.0% 118,000 144,000 9.5% 9.1% 9.8% 9.0% 7.3% 0.0% 23.9% 12.2% Fort Worth 794,000 1.7% 1.6% 100.0% 100.0% 41,000 129,000 6.6% 19.6% 10.2% 14.0% N/A N/A N/A N/A 17,915,000 38.0% 36.4% 98.1% 96.5% 1,935,000 2,719,000 3.7% 2.8% 3.2% 3.3% 29.1% 17.0% 19.3% 9.4% California Los Angeles (5) 2,484,000 5.3% 7.5% 100.0% 100.0% 110,000 164,000 19.2% 25.8% 27.0% 17.6% 27.7% 13.5% 75.9% 51.7% San Francisco 1,045,000 2.2% 3.4% 100.0% 100.0% 202,000 - 41.6% 44.7% 37.5% 36.7% N/A N/A 19.3% 10.7% San Diego 867,000 1.8% 2.4% 100.0% 100.0% - 142,000 107.4% -5.7% 17.6% -7.3% 68.9% 46.8% 56.2% 40.9% Fresno 398,000 0.9% 0.6% 97.9% 97.9% 142,000 59,000 11.2% 9.2% 1.4% 2.6% N/A N/A 26.0% 13.8% 4,794,000 10.2% 13.9% 99.8% 99.8% 454,000 365,000 35.6% 23.0% 26.2% 16.1% 57.8% 37.7% 66.5% 45.8% Arizona Phoenix 3,040,000 6.5% 6.5% 100.0% 100.0% 420,000 500,000 13.9% 10.0% 13.0% 10.4% 44.0% 18.5% 26.9% 10.9% Tucson 848,000 1.8% 1.7% 100.0% 100.0% 10,000 83,000 2.5% 3.1% 0.6% -2.3% N/A N/A 5.6% -1.7% 3,888,000 8.3% 8.2% 100.0% 100.0% 430,000 583,000 10.8% 8.2% 9.6% 7.1% 44.0% 18.5% 24.7% 9.7% Other Core Charlotte 3,570,000 7.6% 6.3% 99.7% 99.7% 764,000 717,000 5.2% 8.0% 2.0% 4.7% 20.5% 4.8% 18.8% 5.6% Atlanta 1,312,000 2.8% 2.5% 100.0% 100.0% 91,000 30,000 17.3% 29.1% 16.0% 12.4% 16.4% 8.2% 15.4% 6.4% Denver 886,000 1.9% 2.2% 95.1% 95.1% 127,000 69,000 -3.4% -4.8% -2.4% 0.6% 6.8% 9.5% 15.5% 12.9% Las Vegas 754,000 1.6% 2.0% 100.0% 93.4% 138,000 182,000 6.1% -3.2% 2.7% 1.5% 69.9% 52.0% 50.3% 35.7% 6,522,000 13.9% 13.0% 99.2% 98.4% 1,120,000 998,000 5.1% 6.5% 3.0% 4.5% 29.7% 20.1% 24.7% 14.1% Total Core Markets 45,571,000 96.9% 97.5% 98.7% 97.4% 6,011,000 6,748,000 8.7% 7.0% 7.0% 5.9% 31.6% 18.2% 31.6% 18.7% Total Other Markets 1,448,000 3.1% 2.5% 99.2% 98.8% 168,000 179,000 -12.5% -12.4% -0.9% 0.2% 19.1% 9.8% 15.4% 4.3% Total Operating Properties 47,019,000 100.0% 100.0% 98.7% 97.4% 6,179,000 6,927,000 8.1% 6.4% 6.8% 5.7% 31.5% 18.0% 31.2% 18.4% (1) Based on the Annualized Base Rent as of the reporting period for occupied square feet (without S/L Rent). (2) Includes month-to-month leases. (3) Does not include leases with terms less than 12 months and leases for first generation space on properties acquired or developed by EastGroup. (4) Excludes straight-line rent adjustments and amortization of above/below market rent intangibles. (5) Includes the Company's share of its less-than-wholly-owned real estate investments. in Square Feet QTR YTD QTR YTDLease Expirations Rental Change (excluding income from lease terminations) New and Renewal Leases (3) Same Property PNOI Change

Page 17 of 24 Lease Expiration Summary Total Square Feet of Operating Properties Based On Leases Signed Through December 31, 2021 ($ in thousands) (Unaudited) Annualized Current % of Total Base Rent of Base Rent of Square Footage of % of Leases Expiring Leases Expiring LEASE EXPIRATION Leases Expiring Total SF (without S/L Rent) (without S/L Rent) Vacancy 612,000 1.3% -$ 0.0% 2022 (1) 6,179,000 13.1% 42,114 13.7% 2023 6,927,000 14.7% 46,174 15.0% 2024 7,837,000 16.7% 52,363 17.0% 2025 6,348,000 13.5% 44,412 14.4% 2026 7,462,000 15.9% 52,211 16.9% 2027 4,635,000 9.9% 27,410 8.9% 2028 2,415,000 5.1% 16,606 5.4% 2029 1,880,000 4.0% 9,947 3.2% 2030 600,000 1.3% 4,799 1.6% 2031 and beyond 2,124,000 4.5% 11,907 3.9% TOTAL 47,019,000 100.0% 307,943$ 100.0% (1) Includes month-to-month leases.

Page 18 of 24 Top 10 Customers by Annualized Base Rent As of December 31, 2021 (Unaudited) % of Total # of % of Total Annualized Customer Leases Location Portfolio Base Rent (1) 1 Starship Logistics LLC 1 Los Angeles, CA 262,000 0.6% 1.0% 2 FedEx Corp. 1 Dallas, TX 157,000 1 Fort Myers, FL 63,000 1 Fort Lauderdale, FL 50,000 1 San Diego, CA 51,000 1 Jackson, MS 6,000 0.7% 0.9% 3 The Chamberlain Group 2 Tucson, AZ 350,000 1 Charlotte, NC 11,000 0.8% 0.9% 4 Amazon 1 San Diego, CA 191,000 1 San Antonio, TX 57,000 1 Tucson, AZ 10,000 0.5% 0.8% 5 Novolex Holdings LLC 1 Los Angeles, CA 286,000 0.6% 0.8% 6 Essendant Co. 1 Orlando, FL 404,000 0.9% 0.7% 7 Mattress Firm 1 Houston, TX 202,000 1 Tampa, FL 109,000 1 Jacksonville, FL 49,000 1 Fort Myers, FL 25,000 0.8% 0.7% 8 Oceaneering International, Inc. 3 Orlando, FL 259,000 0.5% 0.6% 9 Pacific Asiana LLC 1 Los Angeles, CA 183,000 0.4% 0.6% 10 Agility 2 Houston, TX 246,000 0.5% 0.6% 24 2,971,000 6.3% 7.6% (1) Calculation: Customer Annualized Base Rent as of 12/31/21 (without S/L Rent) / Total Annualized Base Rent (without S/L Rent). Leased Total SF

Page 19 of 24 Debt and Equity Market Capitalization December 31, 2021 ($ in thousands, except per share data) (Unaudited) 2022 2023 2024 2025 2026 2027 and Beyond Total Average Years to Maturity Unsecured debt (fixed rate) (1) 75,000$ 115,000 120,000 145,000 140,000 650,000 1,245,000 5.6 Weighted average interest rate 3.03% 2.96% 3.47% 3.12% 3.03% 3.09% 3.11% Secured debt (fixed rate) 115 119 122 128 1,672 - 2,156 4.2 Weighted average interest rate 3.85% 3.85% 3.85% 3.85% 3.85% - 3.85% Total unsecured debt and secured debt 75,115$ 115,119 120,122 145,128 141,672 650,000 1,247,156 5.6 Weighted average interest rate 3.03% 2.96% 3.47% 3.12% 3.04% 3.09% 3.11% Unsecured debt and secured debt (fixed rate) 1,247,156$ Unsecured bank credit facilities (variable rate) $50MM Line - 0.876% - matures 7/30/2025 26,210 $425MM Line - 0.875% - matures 7/30/2025 183,000 Total carrying amount of debt 1,456,366$ Total unamortized debt issuance costs (4,588) Total debt, net of unamortized debt issuance costs 1,451,778$ Equity market capitalization Shares outstanding - common 41,268,846 Price per share at quarter end 227.85$ Total equity market capitalization 9,403,107$ Total market capitalization (debt and equity) (2) 10,859,473$ Total debt / total market capitalization (2) 13.4% (1) These loans have a fixed interest rate or an effectively fixed interest rate due to interest rate swaps (2) Before deducting unamortized debt issuance costs

Page 20 of 24 Continuous Common Equity Program Through December 31, 2021 ($ in thousands, except per share data) (Unaudited) Shares Issued and Sold (1) Average Sales Price (Per Share) Gross Proceeds Offering-Related Fees and Expenses Net Proceeds 1st Quarter 317,538 141.72$ 45,000$ (515)$ 44,485$ 2nd Quarter 370,177 162.08 60,000 (682) 59,318 3rd Quarter 278,893 176.45 49,210 (584) 48,626 4th Quarter 584,573 205.28 119,999 (1,273) 118,726 TOTAL 2021 1,551,181 176.77$ 274,209$ (3,054)$ 271,155$ (1) As of February 8, 2022, the Company had common shares with an aggregate gross sales price of $381.9 million authorized and remaining for issuance under its continuous common equity program.

Page 21 of 24 Debt-to-EBITDAre Ratios ($ in thousands) (Unaudited) Quarter Ended Years Ended December 31, December 31, 2021 2021 2020 2019 2018 2017 EBITDAre 74,332$ 278,959$ 245,669 221,517 200,788 180,214 Debt 1,451,778 1,451,778 1,310,895 1,182,602 1,105,787 1,108,282 DEBT-TO-EBITDAre RATIO 4.88 5.20 5.34 5.34 5.51 6.15 EBITDAre 74,332$ 278,959$ 245,669 221,517 200,788 180,214 Adjust for acquisitions as if owned for entire period 5 4,213 1,906 5,590 1,909 859 Adjust for development and value-add properties in lease-up or under construction (517) (700) (1,327) (2,072) (304) (679) Adjust for properties sold during the period (169) (1,517) (1,081) (3,812) (474) (1,031) Pro Forma EBITDAre 73,651$ 280,955$ 245,167 221,223 201,919 179,363 Debt 1,451,778$ 1,451,778$ 1,310,895 1,182,602 1,105,787 1,108,282 Subtract development and value-add properties in lease-up or under construction (376,611) (376,611) (225,964) (315,794) (149,860) (130,505) Adjusted Debt 1,075,167$ 1,075,167$ 1,084,931 866,808 955,927 977,777 ADJUSTED DEBT-TO-PRO FORMA EBITDAre RATIO 3.65 3.83 4.43 3.92 4.73 5.45

Page 22 of 24 Outlook for 2022 (Unaudited) Q1 2022 Y/E 2022 Q1 2022 Y/E 2022 Net income attributable to common stockholders 32,149$ 133,001 34,633 138,829 Depreciation and amortization 33,498 139,946 33,498 139,946 Funds from operations attributable to common stockholders 65,647$ 272,947 68,131 278,775 Diluted shares 41,398 41,635 41,398 41,635 Per share data (diluted): Net income attributable to common stockholders 0.78$ 3.19 0.84 3.33 Funds from operations attributable to common stockholders 1.59 6.56 1.65 6.70 The following assumptions were used for the mid-point: Metrics FFO per share $6.56 - $6.70 $6.09 FFO per share increase over prior year 8.9% 13.2% Same PNOI growth: cash basis (1) 5.1% - 6.1%(2) 5.7% Average month-end occupancy - operating portfolio 96.5% - 97.5% 97.1% Lease termination fee income $1.1 million $1.4 million Recoveries (reserves) for uncollectible rent (Currently no identified bad debts for 2022) ($1.5 million) $475,000 Development starts: Square feet 2.3 million 2.8 million Projected total investment $250 million $341 million Value-add property acquisitions (Projected total investment) $46 million $178 million Operating property acquisitions $30 million $108 million Operating property dispositions (Potential gains on dispositions are not included in the projections) $70 million $45 million Unsecured debt closing in period $375 million at 3.20% weighted average interest rate $175 million at 2.40% weighted average interest rate Common stock issuances $120 million $274 million General and administrative expense $18.3 million $15.7 million Low Range High Range (In thousands, except per share data) Initial Guidance for Year 2022 Actual for Year 2021 (2) Includes properties which have been in the operating portfolio since 1/1/21 and are projected to be in the operating portfolio through 12/31/22; includes 43,346,000 square feet. (1) Excludes straight-line rent adjustments, amortization of market rent intangibles for acquired leases, and income from lease terminations.

Page 23 of 24 Glossary of REIT Terms Listed below are definitions of commonly used real estate investment trust (“REIT”) industry terms. For additional information on REITs, please see the National Association of Real Estate Investment Trusts (“Nareit”) web site at www.reit.com. Adjusted Debt-to-Pro Forma EBITDAre Ratio: A ratio calculated by dividing a company’s adjusted debt by its pro forma EBITDAre. Debt is adjusted by subtracting the cost of development and value-add properties in lease-up or under construction. EBITDAre is further adjusted by adding an estimate of NOI for significant acquisitions as if the acquired properties were owned for the entire period, and by subtracting NOI from development and value-add properties in lease-up or under construction and from properties sold during the period. The Adjusted Debt-to-Pro Forma EBITDAre Ratio is a non-GAAP financial measure used to analyze the Company’s financial condition and operating performance relative to its leverage, on an adjusted basis, so as to normalize and annualize property changes during the period. Cash Basis: The Company adjusts its GAAP reporting to exclude straight-line rent adjustments and amortization of market rent intangibles for acquired leases. The cash basis is an indicator of the rents charged to customers by the Company during the periods presented and is useful in analyzing the embedded rent growth in the Company’s portfolio. Debt-to-EBITDAre Ratio: A ratio calculated by dividing a company’s debt by its EBITDAre; this non-GAAP measure is used to analyze the Company’s financial condition and operating performance relative to its leverage. Debt-to-Total Market Capitalization Ratio: A ratio calculated by dividing a company’s debt by the total amount of a company’s equity (at market value) and debt. Earnings Before Interest Taxes Depreciation and Amortization for Real Estate (“EBITDAre”): In accordance with standards established by Nareit, EBITDAre is computed as Earnings, defined as Net Income, excluding gains or losses from sales of real estate investments and non-operating real estate, plus interest, taxes, depreciation and amortization. EBITDAre is a non- GAAP financial measure used to measure the Company’s operating performance and its ability to meet interest payment obligations and pay quarterly stock dividends on an unleveraged basis. Funds From Operations (“FFO”): FFO is the most commonly accepted reporting measure of a REIT’s operating performance, and the Company computes FFO in accordance with standards established by Nareit in the Nareit Funds from Operations White Paper — 2018 Restatement. It is equal to a REIT’s net income (loss) attributable to common stockholders computed in accordance with generally accepted accounting principles (“GAAP”), excluding gains and losses from sales of real estate property (including other assets incidental to the Company’s business) and impairment losses, adjusted for real estate related depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. FFO is a non-GAAP financial measure used to evaluate the performance of the Company’s investments in real estate assets and its operating results. FFO Excluding Gain on Casualties and Involuntary Conversion: A reporting measure calculated as FFO (as defined above), adjusted to exclude gain on casualties and involuntary conversion. The Company believes that the exclusion of gain on casualties and involuntary conversion presents a more meaningful comparison of operating performance. Industrial Properties: Generally consisting of four concrete walls tilted up on a slab of concrete. An internal office component is then added. Business uses include warehousing, distribution, light manufacturing and assembly, research and development, showroom, office, or a combination of some or all of the aforementioned. Leases Expiring and Renewal Leases Signed of Expiring Square Feet: Includes renewals during the period with terms commencing during the period and after the end of the period. Operating Land: Land with no buildings or improvements that generates income from leases with tenants; included in Real estate properties on the Consolidated Balance Sheets. Operating Properties: Stabilized real estate properties (land including buildings and improvements) in the Company’s operating portfolio; included in Real estate properties on the Consolidated Balance Sheets. Percentage Leased: The percentage of total leasable square footage for which there is a signed lease, including month-to-month leases, as of the close of the reporting period. Space is considered leased upon execution of the lease.

Page 24 of 24 Glossary of REIT Terms (Continued) Percentage Occupied: The percentage of total leasable square footage for which the lease term has commenced as of the close of the reporting period. Property Net Operating Income (“PNOI”): Income from real estate operations less Expenses from real estate operations (including market-based internal management fee expense) plus the Company’s share of income and property operating expenses from its less-than-wholly-owned real estate investments. PNOI is a non-GAAP, property-level supplemental measure of performance used to evaluate the performance of the Company’s investments in real estate assets and its operating results. Real Estate Investment Trust: A company that owns and, in most cases, operates income-producing real estate such as apartments, shopping centers, offices, hotels and warehouses. Some REITs also engage in financing real estate. The shares of most REITs are freely traded, usually on a major stock exchange. To qualify as a REIT, a company must distribute at least 90 percent of its taxable income to its stockholders annually. A company that qualifies as a REIT is permitted to deduct dividends paid to its stockholders from its corporate taxable income. As a result, most REITs remit at least 100 percent of their taxable income to their stockholders and therefore owe no corporate federal income tax. Taxes are paid by stockholders on the dividends received. Most states honor this federal treatment and also do not require REITs to pay state income tax. Rental changes on new and renewal leases: Rental changes are calculated as the difference, weighted by square feet, of the annualized base rent due the first month of the new lease’s term and the annualized base rent of the rent due the last month of the former lease’s term. If free rent is given, then the first positive full rent value is used. Rental amounts exclude base stop amounts, holdover rent, and premium or discounted rent amounts. This calculation excludes leases with terms less than 12 months and leases for first generation space on properties acquired or developed by EastGroup. Same Properties: Operating properties owned during the entire current and prior year reporting periods. Properties developed or acquired are excluded until held in the operating portfolio for both the current and prior year reporting periods. Properties sold during the current or prior year reporting periods are excluded. The Same Property Pool includes properties which were included in the operating portfolio for the entire period from January 1, 2020 through December 31, 2021. Same Property Net Operating Income (“Same PNOI”): Income from real estate operations less Expenses from real estate operations (including market-based internal management fee expense), plus the Company’s share of income and property operating expenses from its less-than-wholly-owned real estate investments, for the same properties owned by the Company during the entire current and prior year reporting periods. Same PNOI is a non-GAAP, property-level supplemental measure of performance used to evaluate the performance of the Company’s investments in real estate assets and its operating results on a same property basis. Same PNOI Excluding Income from Lease Terminations: Same PNOI (as defined above), adjusted to exclude income from lease terminations. The Company believes it is useful to evaluate Same PNOI Excluding Income from Lease Terminations on both a straight-line and cash basis. The straight-line basis is calculated by averaging the customers’ rent payments over the lives of the leases; GAAP requires the recognition of rental income on the straight-line basis. The cash basis excludes adjustments for straight-line rent and amortization of market rent intangibles for acquired leases; the cash basis is an indicator of the rents charged to customers by the Company during the periods presented and is useful in analyzing the embedded rent growth in the Company’s portfolio. Straight-Lining: The process of averaging the customer’s rent payments over the life of the lease. GAAP requires real estate companies to “straight-line” rents. Total Return: A stock’s dividend income plus capital appreciation/depreciation over a specified period as a percentage of the stock price at the beginning of the period. Value-Add Properties: Properties that are either acquired but not stabilized or can be converted to a higher and better use. Acquired properties meeting either of the following two conditions are considered value-add properties: (1) Less than 75% occupied as of the acquisition date (or will be less than 75% occupied within one year of acquisition date based on near term lease roll), or (2) 20% or greater of the acquisition cost will be spent to redevelop the property.