JACKSON, MISSISSIPPI, August 26, 2022 —¬ EastGroup Properties (NYSE: EGP) (the “Company”, “EastGroup”) announced today that its Board of Directors approved a 13.6% increase in its quarterly dividend, raising it to $1.25 per share from $1.10 per share. The dividend is payable on October 14, 2022 to shareholders of record of Common Stock on September 30, 2022. This dividend is the 171st consecutive quarterly cash distribution to EastGroup’s shareholders and represents an annualized dividend rate of $5.00 per share. EastGroup has increased or maintained its dividend for 30 consecutive years. The Company has increased it 27 years over that period, including increases in each of the last 11 years.