EASTGROUP PROPERTIES Business Summary

EastGroup Properties Inc. (EGP) is a self-administered equity real estate investment trust (REIT) that generates revenue primarily through the ownership, development, and operation of industrial properties across high-growth Sunbelt markets. The company’s business model focuses on a single reportable segment: industrial real estate, specifically multi-tenant "flex" distribution buildings that typically range from 20,000 to 100,000 square feet. By concentrating on supply-constrained submarkets near major transportation hubs in states like Florida, Texas, Arizona, California, and North Carolina, EastGroup provides functional logistics space for location-sensitive customers. In the competitive landscape, EastGroup operates alongside major industrial REITs such as Prologis Inc. (PLD), STAG Industrial Inc. (STAG), First Industrial Realty Trust (FR), and Rexford Industrial Realty (REXR). While larger competitors often target "big-box" bulk warehouses, EastGroup maintains a distinct market position by specializing in smaller-scale, urban-infill facilities that cater to regional businesses and the growing demand for last-mile delivery solutions. Founded in 1969, the company is led by Marshall Loeb, who has served as Chief Executive Officer since 2016 and possesses over 30 years of experience in the REIT industry. Effective January 1, 2026, EastGroup implemented a significant leadership transition, appointing R. Reid Dunbar as President, Staci H. Tyler as Executive Vice President and Chief Financial Officer, and Brent W. Wood as Executive Vice President and Chief Operating Officer. This executive team, which also includes Senior Vice President and Chief Accounting Officer Michelle Rayner and Chief Information Officer Brian Laird, reflects a deep culture of internal succession with a combined company tenure of nearly 70 years. The Board of Directors is chaired by Donald F. Colleran, the former President and CEO of FedEx Express, who provides extensive global logistics and operational expertise. EastGroup’s ownership is heavily concentrated among major institutional investors, with The Vanguard Group and BlackRock, Inc. serving as its largest shareholders.