JACKSON, MISSISSIPPI, December 1, 2021 —¬ EastGroup Properties (NYSE: EGP) (the “Company”, “EastGroup”) announced today that its Board of Directors approved a 22.2% increase in its quarterly dividend, raising it to $1.10 per share from $0.90 per share. The dividend is payable on January 15, 2022 to shareholders of record of Common Stock on December 31, 2021. This dividend is the 168th consecutive quarterly distribution to EastGroup’s shareholders and represents an annualized dividend rate of $4.40 per share. EastGroup has increased or maintained its dividend for 29 consecutive years. The Company has increased it 26 years over that period, including increases in each of the last 10 years.