EastGroup Properties

COVID-19 UPDATE

EastGroup Properties Announces Fourth Quarter and Year 2020 Results

February 9th, 2021

JACKSON, MISSISSIPPI, February 9, 2021 – EastGroup Properties, Inc. (NYSE: EGP) (the “Company”, “we”, “us” or “EastGroup”) announced today the results of its operations for the three and twelve months ended December 31, 2020.

Commenting on EastGroup’s performance, Marshall Loeb, CEO, stated, “Our team and portfolio’s performance exceeded our expectations not only for the quarter, but also for the year. We finished 2020 with FFO per share above our original pre-COVID forecast and begin 2021 at a record high percentage leased all while in the midst of a global pandemic. Now we are beginning to feel like the markets may ease to a sense of normalcy over the course of the year. With that stability and accompanying improved economic predictability, our optimism further rises, primarily due to the pandemic’s acceleration of a number of positive trends within our industry and markets.”

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