EX-99.2 3 supplementalinformation_.htm QUARTERLY SUPPLEMENTAL INFORMATION FOR THE QUARTER ENDED JUNE 30, 2025
Page 1 of 25 Table of Contents Conference Call 800-836-8184 | ID – EastGroup July 24, 2025 11:00 a.m. Eastern Time webcast available at EastGroup.net Ba ss w oo d 35 , F or t W or th , T X SUPPLEMENTAL INFORMATION June 30, 2025 400 West Parkway Place, Suite 100 Ridgeland, MS 39157 (601) 354-3555

Page 2 of 25 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: Components of Net Asset Value ............................................................................ 22 Outlook for 2025 .................................................................................................... 23 Glossary of REIT Terms ........................................................................................ 24 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,” “goals” “plans” or variations of such words and 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 current views of EastGroup Properties, Inc. (the “Company” or “EastGroup”) 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. For instance, the amount, timing and frequency of future dividends is subject to authorization by the Company’s Board of Directors and will be based upon a variety of factors. 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 and conflicts; 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 ongoing uncertainty around interest rates, tariffs and general economic conditions; disruption in supply and delivery chains; increased construction and development costs, including as a result of tariffs or the recent inflationary environment; acquisition and development risks, including failure of such acquisitions and development projects to perform in accordance with our projections or to materialize at all; potential changes in the law or governmental regulations and interpretations of those laws and regulations, including changes in real estate laws, real estate investment trust (“REIT”) or corporate income tax laws, potential changes in zoning laws, or increases in real property tax rates, and any related increased cost of compliance; our ability to maintain our qualification as a REIT; natural disasters such as fires, floods, tornadoes, hurricanes, earthquakes, or other extreme weather events, which may or may not be caused by longer-term shifts in climate patterns, could destroy buildings and damage regional economies; the availability of financing and capital, increases in or long-term elevated interest rates, and our 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; credit risk in the event of non-performance by the counterparties to our interest rate swaps; how and when pending forward equity sales may settle; lack of or insufficient amounts of insurance; litigation, including costs associated with prosecuting or defending claims and any adverse outcomes; our ability to attract and retain key personnel or lack of adequate succession planning; risks related to the failure, inadequacy or interruption of our data security systems and processes, including security breaches through cyber attacks; pandemics, epidemics or other public health emergencies, such as the coronavirus pandemic; potentially catastrophic events such as acts of war, civil unrest and terrorism; 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 most recent Annual Report on Form 10-K, as such factors may be updated from time to time in the Company’s periodic filings and current reports filed with the SEC. The Company assumes no obligation to update publicly any forward-looking statements, including its Outlook for 2025, whether as a result of new information, future events or otherwise.

Page 3 of 25 Consolidated Balance Sheets (In thousands, except share and per share data) (Unaudited) June 30, 2025 December 31, 2024 ASSETS Real estate properties 5,694,951$ 5,503,444 Development and value-add properties 678,013 674,472 6,372,964 6,177,916 Less accumulated depreciation (1,498,548) (1,415,576) 4,874,416 4,762,340 Unconsolidated investment 7,077 7,448 Cash and cash equivalents 32,921 17,529 Other assets, net 275,194 290,159 TOTAL ASSETS 5,189,608$ 5,077,476 LIABILITIES AND EQUITY LIABILITIES Unsecured bank credit facilities, net of debt issuance costs (3,092)$ (3,595) Unsecured debt, net of debt issuance costs 1,457,471 1,507,157 Accounts payable and accrued expenses 200,505 147,342 Other liabilities 127,613 134,028 Total Liabilities 1,782,497 1,784,932 EQUITY Stockholders' Equity: Common shares; $0.0001 par value; 70,000,000 shares authorized; 52,686,636 shares issued and outstanding at June 30, 2025 and 51,825,798 at December 31, 2024 5 5 Excess shares; $0.0001 par value; 30,000,000 shares authorized; no shares issued - - Additional paid-in capital 3,823,605 3,673,393 Distributions in excess of earnings (427,632) (403,172) Accumulated other comprehensive income 10,890 21,953 Total Stockholders' Equity 3,406,868 3,292,179 Noncontrolling interest in joint ventures 243 365 Total Equity 3,407,111 3,292,544 TOTAL LIABILITIES AND EQUITY 5,189,608$ 5,077,476

Page 4 of 25 Consolidated Statements of Income and Comprehensive Income (In thousands, except per share data) (Unaudited) 2025 2024 2025 2024 REVENUES Income from real estate operations 177,256$ 157,333 349,900 311,407 Other revenue 30 1,757 1,835 1,907 177,286 159,090 351,735 313,314 EXPENSES Expenses from real estate operations 48,363 43,851 95,123 86,854 Depreciation and amortization 53,012 45,663 105,532 90,832 General and administrative 5,290 4,741 13,244 11,422 Indirect leasing costs 171 220 434 397 106,836 94,475 214,333 189,505 OTHER INCOME (EXPENSE) Interest expense (7,690) (9,832) (15,715) (19,893) Gain on sales of real estate investments - - - 8,751 Other 553 518 1,063 1,292 NET INCOME 63,313 55,301 122,750 113,959 Net income attributable to noncontrolling interest in joint ventures (14) (14) (28) (28) NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS 63,299 55,287 122,722 113,931 Other comprehensive income (loss) — Interest rate swaps (4,136) (1,095) (11,063) 4,799 TOTAL COMPREHENSIVE INCOME 59,163$ 54,192 111,659 118,730 BASIC PER COMMON SHARE DATA FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS Net income attributable to common stockholders 1.21$ 1.15 2.35 2.37 Weighted average shares outstanding — Basic 52,508 48,248 52,237 48,054 DILUTED PER COMMON SHARE DATA FOR NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS Net income attributable to common stockholders 1.20$ 1.14 2.35 2.37 Weighted average shares outstanding — Diluted 52,579 48,345 52,304 48,153 Six Months Ended June 30,June 30, Three Months Ended

Page 5 of 25 Reconciliations of GAAP to Non-GAAP Measures (In thousands, except per share data) (Unaudited) 2025 2024 2025 2024 NET INCOME ATTRIBUTABLE TO EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS 63,299$ 55,287 122,722 113,931 Depreciation and amortization 53,012 45,663 105,532 90,832 Company's share of depreciation from unconsolidated investment 31 31 62 62 Depreciation and amortization attributable to noncontrolling interest (1) (1) (2) (2) Gain on sales of real estate investments - - - (8,751) Gain on sales of non-operating real estate - - - (222) FUNDS FROM OPERATIONS ("FFO") ATTRIBUTABLE TO COMMON STOCKHOLDERS* 116,341 100,980 228,314 195,850 Gain on involuntary conversion and business interruption claims - (1,708) (1,763) (1,708) FFO ATTRIBUTABLE TO COMMON STOCKHOLDERS, EXCLUDING GAIN ON INVOLUNTARY CONVERSION AND BUSINESS INTERRUPTION CLAIMS* 116,341$ 99,272 226,551 194,142 NET INCOME 63,313$ 55,301 122,750 113,959 Interest expense (1) 7,690 9,832 15,715 19,893 Depreciation and amortization 53,012 45,663 105,532 90,832 Company's share of depreciation from unconsolidated investment 31 31 62 62 EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION AND AMORTIZATION ("EBITDA") 124,046 110,827 244,059 224,746 Gain on sales of real estate investments - - - (8,751) Gain on sales of non-operating real estate - - - (222) EBITDA FOR REAL ESTATE ("EBITDAre")* 124,046$ 110,827 244,059 215,773 DILUTED PER COMMON SHARE DATA FOR EASTGROUP PROPERTIES, INC. COMMON STOCKHOLDERS Net income attributable to common stockholders 1.20$ 1.14 2.35 2.37 FFO attributable to common stockholders* 2.21$ 2.09 4.37 4.07 FFO attributable to common stockholders, excluding gain on involuntary conversion and business interruption claims* 2.21$ 2.05 4.33 4.03 Weighted average shares outstanding for EPS and FFO purposes - Diluted 52,579 48,345 52,304 48,153 June 30, * This is a non-GAAP financial measure. Please refer to Glossary of REIT Terms. Three Months Ended June 30, Six Months Ended (1) Net of capitalized interest of $5,340 and $5,037 for the three months ended June 30, 2025 and 2024, respectively; and $10,500 and $9,890 for the six months ended June 30, 2025 and 2024, respectively.

Page 6 of 25 Reconciliations of GAAP to Non-GAAP Measures (continued) (In thousands) (Unaudited) 2025 2024 2025 2024 NET INCOME 63,313$ 55,301 122,750 113,959 Gain on sales of real estate investments - - - (8,751) Gain on sales of non-operating real estate - - - (222) Interest income (277) (241) (509) (516) Other revenue (30) (1,757) (1,835) (1,907) Indirect leasing costs 171 220 434 397 Depreciation and amortization 53,012 45,663 105,532 90,832 Company's share of depreciation from unconsolidated investment 31 31 62 62 Interest expense (1) 7,690 9,832 15,715 19,893 General and administrative expense (2) 5,290 4,741 13,244 11,422 Noncontrolling interest in PNOI of consolidated joint ventures (16) (15) (31) (31) PROPERTY NET OPERATING INCOME ("PNOI")* 129,184 113,775 255,362 225,138 PNOI from 2024 acquisitions (6,989) (1,371) (14,019) (2,070) PNOI from 2024 and 2025 development and value-add properties (6,125) (3,138) (11,313) (5,649) PNOI from 2024 and 2025 operating property dispositions 15 (50) (40) (278) Other PNOI 455 21 713 102 SAME PNOI (Straight-Line Basis)* 116,540 109,237 230,703 217,243 Lease termination fee income from same properties (213) (65) (792) (212) SAME PNOI, EXCLUDING INCOME FROM LEASE TERMINATIONS (Straight-Line Basis)* 116,327 109,172 229,911 217,031 Straight-line rent adjustments for same properties (2,639) (2,244) (4,457) (3,707) Acquired leases — market rent adjustment amortization for same properties (490) (533) (991) (1,145) SAME PNOI, EXCLUDING INCOME FROM LEASE TERMINATIONS (Cash Basis)* 113,198$ 106,395 224,463 212,179 (2) Net of capitalized development costs of $1,717 and $2,032 for the three months ended June 30, 2025 and 2024, respectively; and $3,671 and $4,255 for the six months ended June 30, 2025 and 2024, respectively. Three Months Ended * This is a non-GAAP financial measure. Please refer to Glossary of REIT Terms. Six Months Ended June 30, June 30, (1) Net of capitalized interest of $5,340 and $5,037 for the three months ended June 30, 2025 and 2024, respectively; and $10,500 and $9,890 for the six months ended June 30, 2025 and 2024, respectively.

Page 7 of 25 Consolidated Statements of Cash Flows (In thousands) (Unaudited) 2025 2024 OPERATING ACTIVITIES Net income 122,750$ 113,959 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 105,532 90,832 Stock-based compensation expense 6,535 5,751 Gain on sales of real estate investments - (8,751) Gain on sales of non-operating real estate - (222) Gain on involuntary conversion and business interruption claims (1,763) (1,708) Changes in operating assets and liabilities: Accrued income and other assets 3,700 (9,820) Accounts payable, accrued expenses and prepaid rent 39,014 48,621 Other 1,313 1,099 NET CASH PROVIDED BY OPERATING ACTIVITIES 277,081 239,761 INVESTING ACTIVITIES Development and value-add properties (158,709) (122,898) Purchases of real estate properties - (107,804) Real estate improvements (44,002) (34,871) Net proceeds from sales of real estate investments and non-operating real estate 3,371 17,397 Leasing commissions (17,451) (16,517) Proceeds from involuntary conversion on real estate assets 3,099 2,450 Changes in accrued development costs 5,299 (9,205) Changes in other assets and other liabilities 495 468 NET CASH USED IN INVESTING ACTIVITIES (207,898) (270,980) FINANCING ACTIVITIES Proceeds from unsecured bank credit facilities 22,851 31,863 Repayments on unsecured bank credit facilities (22,851) (31,863) Repayments on unsecured debt (50,000) - Debt issuance costs (103) (3,086) Distributions paid to stockholders (not including dividends accrued) (146,299) (122,337) Proceeds from common stock offerings 147,006 162,111 Common stock offering related costs (96) (107) Other (4,299) (6,225) NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES (53,791) 30,356 INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 15,392 (863) CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 17,529 40,263 CASH AND CASH EQUIVALENTS AT END OF PERIOD 32,921$ 39,400 SUPPLEMENTAL CASH FLOW INFORMATION Cash paid for interest, net of amounts capitalized of $10,500 and $9,890 for 2025 and 2024, respectively 14,593$ 18,968 Cash paid for operating lease liabilities 1,787 1,253 Six Months Ended June 30,

Page 8 of 25 Same Property Portfolio Analysis (In thousands) (Unaudited) 2025 2024 % Change 2025 2024 % Change Same Property Portfolio (1) Square feet as of period end 54,721 54,721 54,721 54,721 Average occupancy 96.3% 97.1% -0.8% 96.2% 97.3% -1.1% Occupancy as of period end 96.4% 97.2% -0.8% 96.4% 97.2% -0.8% Same Property Portfolio Analysis (Straight-Line Basis) (1) * Income from real estate operations 160,837$ 152,073 5.8% 318,127$ 302,297 5.2% Less cash received for lease terminations (213) (65) (792) (212) Income excluding lease termination income 160,624 152,008 5.7% 317,335 302,085 5.0% Expenses from real estate operations (44,297) (42,836) 3.4% (87,424) (85,054) 2.8% PNOI, excluding income from lease terminations 116,327$ 109,172 6.6% 229,911$ 217,031 5.9% Same Property Portfolio Analysis (Cash Basis) (1) * Income from real estate operations 157,708$ 149,296 5.6% 312,679$ 297,445 5.1% Less cash received for lease terminations (213) (65) (792) (212) Income excluding lease termination income 157,495 149,231 5.5% 311,887 297,233 4.9% Expenses from real estate operations (44,297) (42,836) 3.4% (87,424) (85,054) 2.8% PNOI, excluding income from lease terminations 113,198$ 106,395 6.4% 224,463$ 212,179 5.8% (1) Includes properties which were included in the operating portfolio for the entire period of 1/1/24 through 6/30/25. * This is a non-GAAP financial measure. Please refer to Glossary of REIT Terms. June 30, June 30, Three Months Ended Six Months Ended

Page 9 of 25 Additional Financial Information (In thousands) (Unaudited) 2025 2024 2025 2024 Lease income - operating leases 133,727$ 117,138 263,793 231,338 Variable lease income (1) 43,529 40,195 86,107 80,069 Income from real estate operations 177,256 157,333 349,900 311,407 Straight-line rent income adjustment 4,695 3,163 8,259 5,387 Stock-based compensation expense (2,303) (2,244) (6,535) (5,751) Debt issuance costs amortization (454) (479) (920) (958) Gain on involuntary conversion and business interruption claims (2) - 1,708 1,763 1,708 Acquired leases - market rent adjustment amortization 1,520 546 3,087 1,153 2025 2024 2025 2024 WEIGHTED AVERAGE COMMON SHARES Weighted average common shares - Basic 52,508 48,248 52,237 48,054 BASIC SHARES FOR EARNINGS PER SHARE ("EPS") 52,508 48,248 52,237 48,054 Potential common shares: Effect of dilutive securities 71 97 67 99 DILUTED SHARES FOR EPS AND FFO 52,579 48,345 52,304 48,153 (1) Primarily includes tenant reimbursements for real estate taxes, insurance and common area maintenance. (2) Included in Other revenue on the Consolidated Statements of Income and Comprehensive Income; included in FFO. June 30, Three Months Ended Three Months Ended June 30, Six Months Ended June 30, Six Months Ended June 30, SELECTED INCOME STATEMENT INFORMATION (Items below represent increases or (decreases) in FFO)

Page 10 of 25 Financial Statistics ($ in thousands, except per share data) (Unaudited) Quarter Ended 6/30/25 2024 2023 2022 2021 ASSETS/MARKET CAPITALIZATION Assets 5,189,608$ 5,077,476 4,519,213 4,035,837 3,215,336 Equity Market Capitalization 8,804,991 8,317,522 8,754,937 6,451,794 9,403,107 Total Market Capitalization (Debt and Equity) (1) 10,264,991 9,827,522 10,434,937 8,318,835 10,859,473 Shares Outstanding - Common 52,686,636 51,825,798 47,700,432 43,575,539 41,268,846 Price per share 167.12$ 160.49 183.54 148.06 227.85 FFO CHANGE* FFO per diluted share 2.21$ 8.35 7.79 7.00 6.09 Change compared to same period prior year 5.7% 7.2% 11.3% 14.9% 13.2% COMMON DIVIDEND PAYOUT RATIO* Dividend distribution 1.40$ 5.34 5.04 4.70 3.58 FFO per diluted share 2.21 8.35 7.79 7.00 6.09 Dividend payout ratio 63% 64% 65% 67% 59% COMMON DIVIDEND YIELD (2) Dividend distribution 1.40$ 5.34 5.04 4.70 3.58 Price per share 167.12 160.49 183.54 148.06 227.85 Dividend yield 3.35% 3.33% 2.75% 3.17% 1.57% FFO MULTIPLE (3) * FFO per diluted share 2.21$ 8.35 7.79 7.00 6.09 Price per share 167.12 160.49 183.54 148.06 227.85 Multiple 18.9 19.2 23.6 21.2 37.4 INTEREST & FIXED CHARGE COVERAGE RATIO* EBITDAre 124,046$ 447,186 401,335 337,536 278,959 Interest expense 7,690 38,956 47,996 38,499 32,945 Interest and fixed charge coverage ratio 16.1 11.5 8.4 8.8 8.5 DEBT-TO-EBITDAre RATIO (4) * Debt 1,454,379$ 1,503,562 1,674,827 1,861,744 1,451,778 EBITDAre 124,046 447,186 401,335 337,536 278,959 Debt-To-EBITDAre ratio (4) 2.9 3.4 4.2 5.5 5.2 Adjusted debt-to-pro forma EBITDAre ratio (4) 2.2 2.3 3.2 4.5 3.8 DEBT-TO-TOTAL MARKET CAPITALIZATION (1) 14.2% 15.4% 16.1% 22.4% 13.4% ISSUER RATINGS (5) Issuer Rating Outlook Moody's Ratings Baa2 Positive (1) Before deducting unamortized debt issuance costs. (2) Quarterly calculation: (Dividend distributions for the quarter x 4)/price per share. Yearly calculation: Dividend for the 12-month period/price per share. (3) Quarterly calculation: (FFO per diluted share for the quarter x 4)/price per share. Yearly calculation: FFO per diluted share for the 12-month period/price per share. (4) Quarterly calculation: Debt/(EBITDAre for the quarter x 4). Yearly calculation: Debt/EBITDAre for the 12-month period. (5) 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. * This is a non-GAAP financial measure. Please refer to Glossary of REIT Terms. Years Ended

Page 11 of 25 Development and Value-Add Properties Summary ($ in thousands) (Unaudited) Cumulative Anticipated Costs at Projected Conversion % Leased Square Feet (SF) 6/30/25 Total Costs Date (1) 7/22/25 Lease-Up Braselton 3 Atlanta, GA 115,000 14,757$ 15,200 07/25 33% Gateway South Dade 1 & 2 Miami, FL 169,000 34,113 35,900 07/25 18% Riverside 1 & 2 Atlanta, GA 284,000 33,269 35,300 07/25 100% Cass White 1 & 2 Atlanta, GA 296,000 34,125 35,900 09/25 37% Horizon West 5 Orlando, FL 85,000 10,140 12,800 12/25 0% Denton 35 Exchange 1 & 2 Dallas, TX 244,000 31,519 34,600 02/26 28% Skyway 1 & 2 Charlotte, NC 318,000 34,349 37,200 03/26 10% Texas Avenue 1 & 2 Austin, TX 129,000 18,850 22,500 04/26 17% World Houston 46 Houston, TX 181,000 15,441 17,900 06/26 0% Total Lease-up 1,821,000 226,563 247,300 32% Wgt Avg % Under Construction Arista 36 1-3 Denver, CO 360,000 59,679 80,300 07/26 0% Crossroads 2 Tampa, FL 203,000 23,149 32,300 08/26 0% Grand West Crossing 2 Houston, TX 97,000 10,285 12,900 09/26 0% Dominguez (2) Los Angeles, CA 262,000 3,420 9,200 10/26 0% Hillside 2 Greenville, SC 141,000 8,210 15,300 10/26 0% Gateway Interchange A & B Phoenix, AZ 137,000 11,683 26,200 02/27 17% Gateway Interchange F & G Phoenix, AZ 224,000 20,679 38,000 02/27 0% Station 24 1 & 2 Nashville, TN 180,000 5,780 35,700 04/27 0% Greenway 100 & 200 Atlanta, GA 289,000 4,117 34,200 06/27 0% Total Under Construction 1,893,000 147,002 284,100 1% Wgt Avg % Total Lease-Up and Under Construction 3,714,000 373,565$ 531,400 16% Wgt Avg % Projected Stabilized Yields (3) Yield Lease-Up 7.0% Under Construction 8.2% Lease-Up and Under Construction 7.6% Prospective Development Acres Projected SF Phoenix, AZ 33 419,000 13,603$ Sacramento, CA 4 78,000 2,757 Fort Myers, FL 20 210,000 4,270 Miami, FL 24 313,000 26,880 Orlando, FL 33 357,000 13,864 Tampa, FL 136 1,164,000 51,550 Atlanta, GA 112 1,121,000 13,899 Charlotte, NC 113 828,000 14,134 Greenville, SC 65 523,000 7,548 Nashville, TN 15 190,000 5,551 Austin, TX 132 1,583,000 53,640 Dallas, TX 41 510,000 23,237 Fort Worth, TX 121 1,312,000 34,218 Houston, TX 78 1,131,000 27,697 San Antonio, TX 46 612,000 11,600 Total Prospective Development 973 10,351,000 304,448 Total Development and Value-Add Properties 973 14,065,000 678,013$ (1) Development projects will transfer to the operating portfolio at the earlier of 90% occupancy or one year after shell completion. (2) Represents a redevelopment project. (3) Weighted average yield based on projected stabilized annual property net operating income on a straight-line basis at 100% occupancy divided by projected total costs.

Page 12 of 25 Development and Value-Add Properties Transferred to Real Estate Properties ($ in thousands) (Unaudited) Cumulative Costs at Conversion % Leased Square Feet (SF) 6/30/25 Date 7/22/25 1st Quarter SunCoast 9 Fort Myers, FL 111,000 15,802$ 02/25 32% Northeast Trade Center 1 San Antonio, TX 264,000 28,809 03/25 100% 375,000 44,611 2nd Quarter Horizon West 6 Orlando, FL 87,000 11,849 04/25 100% Basswood 3-5 Fort Worth, TX 351,000 49,962 05/25 70% Crossroads 1 Tampa, FL 124,000 19,145 05/25 100% Eisenhauer Point 10-12 San Antonio, TX 223,000 28,677 05/25 48% 785,000 109,633 Total Transferred to Real Estate Properties 1,160,000 154,244$ 74% Wgt Avg % Projected Stabilized Yield (1) 7.6% (1) Weighted average yield based on projected stabilized annual property net operating income on a straight-line basis at 100% occupancy divided by projected total costs.

Page 13 of 25 Acquisitions and Dispositions Through June 30, 2025 ($ in thousands) (Unaudited) Date Property Name Location Size Purchase Price (1) 1st Quarter None 2nd Quarter 05/07/25 Bell Creek Logistics Center Land Tampa, FL 65.9 Acres 32,433$ 06/02/25 Frisco Park 121 Land Dallas, TX 28.6 Acres 17,795 Total Acquisitions 94.5 Acres 50,228$ Date Property Name Location Size Gross Sales Price 1st Quarter None 2nd Quarter 06/02/25 Laura Alice Business Center San Francisco, CA 12,000 SF 3,573$ - (2) Total Dispositions 12,000 SF 3,573$ - DISPOSITIONS ACQUISITIONS (2) Included in Gain on sales of real estate investments on the Consolidated Statements of Income and Comprehensive Income; not included in FFO. (1) Represents acquisition price plus closing costs. Realized Gain

Page 14 of 25 Real Estate Improvements and Leasing Costs (In thousands) (Unaudited) REAL ESTATE IMPROVEMENTS 2025 2024 2025 2024 Upgrade on acquisitions 10$ 245 62 282 Tenant improvements: New tenants 6,041 5,863 11,548 8,200 Renewal tenants 1,058 395 2,469 1,230 Building improvements 3,699 4,943 9,231 8,018 Roofs 4,228 3,659 10,021 7,469 Parking lots 1,715 1,489 2,515 2,248 Other 1,696 1,349 2,854 2,187 TOTAL REAL ESTATE IMPROVEMENTS (1) 18,447$ 17,943 38,700 29,634 CAPITALIZED LEASING COSTS (Principally Commissions) Development and value-add 1,282$ 2,430 3,369 4,421 New tenants 2,876 3,752 7,290 7,803 Renewal tenants 2,159 2,743 6,227 5,266 TOTAL CAPITALIZED LEASING COSTS (2)(3) 6,317$ 8,925 16,886 17,490 (1) Reconciliation of Total Real Estate Improvements to Real Estate Improvements on the Consolidated Statements of Cash Flows: 2025 2024 Total Real Estate Improvements 38,700$ 29,634 Change in real estate property payables (1,230) (998) Change in construction in progress 6,532 6,235 44,002$ 34,871 (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: 2025 2024 Total Capitalized Leasing Costs 16,886$ 17,490 Change in leasing commissions payables 565 (973) 17,451$ 16,517 Six Months Ended June 30, Six Months EndedThree Months Ended June 30, Six Months Ended June 30, Leasing Commissions on the Consolidated Statements of Cash Flows June 30, Real Estate Improvements on the Consolidated Statements of Cash Flows

Page 15 of 25 Leasing Statistics and Occupancy Summary (Unaudited) Three Months Ended Number of Square Feet Weighted Rental Rate Change Rental Rate Change PSF Tenant PSF Leasing PSF Total June 30, 2025 Leases Signed Signed Average Term Straight-Line Basis (1) Cash Basis (1) Improvement (2) Commission (2) Leasing Cost (2) (In Thousands) (In Years) New Leases (3) 39 771 4.6 36.6% 26.5% 8.38$ 3.41$ 11.79$ Renewal Leases 53 1,167 3.6 50.2% 32.6% 0.96 1.83 2.79 Total/Weighted Average 92 1,938 4.0 44.4% 30.1% 3.91$ 2.46$ 6.37$ Per Year 0.98$ 0.61$ 1.59$ Weighted Average Retention (4) 68.4% Six Months Ended Number of Square Feet Weighted Rental Rate Change Rental Rate Change PSF Tenant PSF Leasing PSF Total June 30, 2025 Leases Signed Signed Average Term Straight-Line Basis (1) Cash Basis (1) Improvement (2) Commission (2) Leasing Cost (2) (In Thousands) (In Years) New Leases (3) 80 1,839 5.1 40.8% 29.2% 6.55$ 3.51$ 10.06$ Renewal Leases 100 2,693 4.3 49.5% 31.7% 1.14 2.31 3.45 Total/Weighted Average 180 4,532 4.6 45.8% 30.7% 3.33$ 2.80$ 6.13$ Per Year 0.72$ 0.61$ 1.33$ Weighted Average Retention (4) 69.6% 06/30/25 03/31/25 12/31/24 09/30/24 06/30/24 Percentage Leased 97.1% 97.3% 97.1% 96.9% 97.4% Percentage Occupied 96.0% 96.5% 96.1% 96.5% 97.1% (1) Rental Rate Change is reported for leases signed during the periods presented. (2) Per square foot (PSF) amounts represent total amounts for the life of the lease, except as noted for the Per Year amounts. (3) Does not include leases with terms less than 12 months and leases for first generation space. (4) Calculated as SF of renewal leases signed during the quarter / SF of leases expiring during the quarter plus early renewals signed (not including early terminations or bankruptcies).

Page 16 of 25 Core Market Operating Statistics June 30, 2025 (Unaudited) Total % of Total Square Feet Annualized % Straight-Line Cash Straight-Line Cash Straight-Line Cash Straight-Line Cash of Properties Base Rent (1) Leased 2025 (2) 2026 Basis Basis (4) Basis Basis (4) Basis Basis (4) Basis Basis (4) Texas Dallas 6,108,000 10.6% 97.7% 151,000 593,000 7.1% 9.3% 7.1% 9.2% 72.1% 57.3% 62.3% 47.1% Houston 7,108,000 9.8% 97.0% 155,000 1,348,000 4.8% 3.7% 2.9% 1.9% 35.7% 21.7% 38.4% 20.5% San Antonio 4,899,000 7.3% 93.8% 143,000 923,000 -5.0% -5.0% -4.5% -3.8% 26.8% 13.5% 25.5% 12.5% Austin 1,756,000 3.5% 93.2% 76,000 224,000 9.0% 9.5% 9.0% 8.5% 45.2% 32.8% 36.3% 24.4% Fort Worth 1,459,000 2.0% 89.3% 28,000 160,000 4.8% 4.4% 4.6% 4.4% 119.3% 76.9% 105.8% 70.6% El Paso 1,126,000 1.5% 97.1% 50,000 84,000 8.7% 9.1% 8.5% 8.2% 22.2% 9.4% 52.9% 37.7% 22,456,000 34.7% 95.7% 603,000 3,332,000 3.9% 4.1% 3.3% 3.7% 48.5% 32.5% 43.4% 27.1% Florida Orlando 4,899,000 8.6% 99.0% 222,000 574,000 8.1% 11.8% 9.4% 11.0% 46.6% 30.8% 45.0% 30.5% Tampa 4,656,000 7.4% 94.3% 192,000 1,516,000 2.1% 3.2% 2.7% 4.3% 59.6% 45.6% 60.7% 44.4% Miami/Fort Lauderdale 1,865,000 4.1% 98.9% 48,000 437,000 23.6% 14.6% 16.5% 8.5% 61.0% 45.3% 75.8% 56.2% Jacksonville 2,273,000 3.1% 99.7% 408,000 416,000 2.4% 0.1% 3.9% 0.7% 14.4% 11.3% 47.2% 31.8% Fort Myers 996,000 1.7% 89.3% - 122,000 6.5% 8.6% 3.9% 5.5% 70.0% 48.1% 70.0% 48.1% 14,689,000 24.9% 97.0% 870,000 3,065,000 7.5% 7.6% 7.2% 6.7% 47.8% 34.8% 56.6% 40.4% California San Francisco 2,463,000 5.5% 96.9% 19,000 710,000 11.1% 6.3% 7.2% 4.4% 10.0% 4.7% 14.4% 5.9% Los Angeles (5) 2,146,000 5.0% 100.0% 84,000 441,000 10.7% 13.7% 7.5% 11.5% 38.9% 27.1% 24.5% 17.2% San Diego (5) 1,933,000 4.6% 96.5% 131,000 287,000 5.2% -2.1% 9.3% 0.5% 57.4% 44.4% 33.1% 23.4% Sacramento 329,000 0.5% 96.9% 83,000 - -2.5% 0.4% -0.4% 2.7% N/A N/A N/A N/A Fresno 398,000 0.4% 93.2% 64,000 105,000 -4.7% 2.6% -1.2% 2.7% 31.0% 24.3% 38.4% 31.8% 7,269,000 16.0% 97.5% 381,000 1,543,000 8.2% 5.7% 7.4% 5.3% 33.7% 24.2% 23.2% 15.1% Arizona Phoenix 3,518,000 6.6% 99.1% 191,000 421,000 11.1% 9.3% 11.6% 9.6% 54.1% 37.6% 86.0% 57.5% Tucson 848,000 1.1% 98.3% 11,000 5,000 0.1% 0.7% 1.6% 2.3% N/A N/A N/A N/A 4,366,000 7.7% 98.9% 202,000 426,000 9.2% 7.7% 9.8% 8.2% 54.1% 37.6% 86.0% 57.5% Other Core Charlotte 3,883,000 5.3% 98.3% 104,000 333,000 5.9% 1.2% 2.4% -0.1% 26.8% 16.0% 24.1% 19.8% Las Vegas 1,396,000 3.3% 100.0% 52,000 232,000 9.7% 19.4% 10.1% 16.1% N/A N/A 21.2% 9.6% Atlanta 2,246,000 2.9% 98.9% 82,000 257,000 15.4% 17.1% 12.8% 13.1% 31.5% 12.4% 49.8% 31.2% Denver 886,000 1.6% 100.0% 58,000 180,000 3.9% 5.6% 3.4% 4.3% 29.0% 5.4% 22.7% 6.6% Greenville 1,102,000 1.4% 100.0% - 220,000 8.0% 26.6% 13.2% 45.9% N/A N/A N/A N/A 9,513,000 14.5% 99.0% 296,000 1,222,000 8.1% 10.0% 6.7% 9.2% 29.0% 12.7% 31.4% 21.0% Total Core Markets 58,293,000 97.8% 97.0% 2,352,000 9,588,000 6.6% 6.4% 6.0% 5.9% 45.1% 30.7% 46.2% 31.1% Total Other Markets 1,580,000 2.2% 99.8% 22,000 95,000 6.2% 5.9% 2.9% 2.5% 7.9% -1.9% 21.5% 8.2% Total Operating Properties 59,873,000 100.0% 97.1% 2,374,000 9,683,000 6.6% 6.4% 5.9% 5.8% 44.4% 30.1% 45.8% 30.7% (1) Based on the Annualized Base Rent as of the reporting period for occupied square feet (without S/L Rent). (2) Square Feet expiring during the remainder of the year, including month-to-month leases. (3) Rental Rate Change is reported for leases signed during the periods presented and does not include leases with terms less than 12 months and leases for first generation space. (4) Excludes straight-line rent adjustments. (5) Includes the Company's share of its less-than-wholly-owned real estate investments. * This is a non-GAAP financial measure. Please refer to Glossary of REIT Terms. in Square Feet Same PNOI Change* Rental Rate Change (excluding income from lease terminations) New and Renewal Leases (3) Lease Expirations QTR YTD QTR YTD

Page 17 of 25 Lease Expiration Summary - Total Square Feet of Operating Properties Based on Leases Signed Through June 30, 2025 ($ in thousands) (Unaudited) Annualized Current % of Total Base Rent of Base Rent of Square Footage of Leases Expiring Leases Expiring LEASE EXPIRATION Leases Expiring (without S/L Rent) (without S/L Rent) Vacancy 1,741,000 -$ 0.0% 2025 - remainder of year (1) 2,374,000 24,488 4.6% 2026 9,683,000 83,684 15.8% 2027 10,316,000 93,917 17.7% 2028 8,695,000 81,666 15.4% 2029 8,271,000 76,482 14.4% 2030 7,506,000 69,018 13.0% 2031 2,843,000 27,662 5.2% 2032 3,143,000 23,310 4.4% 2033 2,290,000 21,442 4.0% 2034 and beyond 3,011,000 28,980 5.5% TOTAL 59,873,000 530,649$ 100.0% (1) Includes month-to-month leases.

Page 18 of 25 Top 10 Customers by Annualized Base Rent As of June 30, 2025 (Unaudited) % of Total # of % of Total Annualized Customer Leases Location Portfolio SF Base Rent (1) 1 Amazon 2 San Diego, CA 710,000 1 San Antonio, TX 57,000 1.3% 1.6% 2 Consolidated Electrical Distributors 2 San Antonio, TX 145,000 1 Orlando, FL 104,000 1 San Francisco, CA 84,000 1 Charlotte, NC 42,000 0.6% 0.7% 3 Mattress Firm 1 Houston, TX 202,000 1 Tampa, FL 109,000 1 San Diego, CA 66,000 1 Jacksonville, FL 49,000 1 Fort Myers, FL 25,000 0.8% 0.7% 4 REPET, Inc. 1 Los Angeles, CA 300,000 0.5% 0.7% 5 DSV Air & Sea Inc. 3 Houston, TX 385,000 1 San Diego, CA 20,000 0.7% 0.6% 6 FedEx Corp. 1 Dallas, TX 157,000 1 Fort Myers, FL 63,000 1 San Diego, CA 51,000 1 Fort Lauderdale, FL 50,000 0.6% 0.6% 7 The Chamberlain Group 2 Tucson, AZ 350,000 1 Charlotte, NC 11,000 0.6% 0.5% 8 Leviat 1 San Antonio, TX 264,000 1 Tampa , FL 48,000 0.5% 0.5% 9 American Builders and Contractors 1 Houston, TX 258,000 1 Tampa , FL 116,000 0.6% 0.5% 10 Infinite Electronics Inc. 4 Dallas, TX 320,000 0.5% 0.5% 33 3,986,000 6.7% 6.9% (1) Calculation: Customer Annualized Base Rent as of 06/30/25 (without S/L Rent) / Total Annualized Base Rent (without S/L Rent). Leased Total SF

Page 19 of 25 Debt and Equity Market Capitalization June 30, 2025 ($ in thousands, except per share data) (Unaudited) Unsecured debt (fixed rate) (1) Maturity Dates Weighted Average Interest Rate Principal Payments Maturing Average Years to Maturity August 28, 2025 3.80% 20,000$ October 1, 2025 3.97% 25,000 October 7, 2025 3.99% 50,000 Year 2026 2.56% 140,000 Year 2027 2.74% 175,000 Year 2028 3.10% 160,000 Year 2029 3.88% 155,000 Year 2030 and beyond 3.57% 735,000 Total unsecured debt (fixed rate) (1) 3.38% 1,460,000 4.4 Unsecured bank credit facilities (variable rate) $50MM Line - 5.275% - matures 7/31/2028 - $625MM Line - 5.162% - matures 7/31/2028 - Total carrying amount of debt 1,460,000 Total unamortized debt issuance costs (5,621) Total debt, net of unamortized debt issuance costs 1,454,379$ Equity market capitalization Shares outstanding - common 52,686,636 Price per share at quarter end 167.12$ Total equity market capitalization 8,804,991$ Total market capitalization (debt and equity) (2) 10,264,991$ Total debt / total market capitalization (2) 14.2% (1) These loans have a fixed interest rate or an effectively fixed interest rate due to interest rate swaps. (2) Debt refers to total carrying amount of debt.

Page 20 of 25 Continuous Common Equity Program ($ in thousands, except per share data) (Unaudited) Common Stock Weighted Average Price Gross Proceeds (1) (In shares) (Per share) (In thousands) 1st Quarter 2025: Total shares issued and proceeds received during the three months ended 3/31/2025 33,120 183.15$ 6,066$ (2) 2nd Quarter 2025: Total shares issued and proceeds received during the three months ended 6/30/2025 - - - Total direct common stock issuance for the six months ended 6/30/2025 33,120 183.15$ 6,066$ Common Stock Weighted Average Price Gross Proceeds (1) (In shares) (Per share) (In thousands) Forward Shares Agreements Outstanding at 12/31/2024 385,253 175.07$ 67,446$ 1st Quarter 2025: New forward sale agreements 1,043,871 182.02 190,006 Forward shares issued and proceeds received (385,253) 175.07 (67,446) (2) Forward Shares Agreements Outstanding at 3/31/2025 1,043,871 182.02 190,006 2nd Quarter 2025: New forward sale agreements 19,954 175.00 3,492 Forward shares issued and proceeds received (416,067) 180.26 (74,999) (2) Forward Shares Agreements Outstanding at 6/30/2025 647,758 182.94 118,499 Forward shares issued and proceeds received (647,758) 182.94 (118,499) (2) Forward Shares Agreements Outstanding at 7/22/2025 - - -$ Gross Sales Price (In thousands) Total Gross Sales Price Authorized for Issuance on 10/25/2024 1,000,000$ Amount settled from 10/25/2024 through 7/22/2025 (479,899) Amount of outstanding forward equity sale agreements as of 7/22/2025 - Remaining Capacity for Issuance as of 7/22/2025 520,101$ (1) During the three and six months ended June 30, 2025, the Company recognized offering-related costs for direct issuances and forward agreements of $788 and $1,582, which is not deducted from proceeds above. SALES AGENCY FINANCING AGREEMENTS DIRECT COMMON STOCK ISSUANCE ACTIVITY FORWARD EQUITY SALE AGREEMENTS ACTIVITY (2) Gross proceeds received under the Company's continuous equity offering from 1/1/2025 through 7/22/2025 were $267,010.

Page 21 of 25 Debt-to-EBITDAre Ratios ($ in thousands) (Unaudited) Quarter Ended June 30, 2025 (1) 2024 2023 2022 2021 2020 Debt 1,454,379$ 1,503,562$ 1,674,827 1,861,744 1,451,778 1,310,895 EBITDAre* 124,046 447,186 401,335 337,536 278,959 245,669 DEBT-TO-EBITDAre RATIO* 2.9 3.4 4.2 5.5 5.2 5.3 Debt 1,454,379$ 1,503,562$ 1,674,827 1,861,744 1,451,778 1,310,895 Subtract development and value-add properties in lease-up or under construction (373,565) (424,068) (374,924) (324,831) (376,611) (225,964) Adjusted Debt* 1,080,814$ 1,079,494$ 1,299,903 1,536,913 1,075,167 1,084,931 EBITDAre* 124,046$ 447,186$ 401,335 337,536 278,959 245,669 Adjust for acquisitions as if owned for entire period - 26,514 5,490 6,900 4,213 1,906 Adjust for development and value-add properties in lease-up or under construction (462) (1,558) (1,909) (857) (700) (1,327) Adjust for properties sold during the period 15 (177) (2,001) (235) (1,517) (1,081) Pro Forma EBITDAre* 123,599$ 471,965$ 402,915 343,344 280,955 245,167 ADJUSTED DEBT-TO-PRO FORMA EBITDAre RATIO* 2.2 2.3 3.2 4.5 3.8 4.4 (1) Quarterly calculations annualize EBITDAre for the quarter. (2) Yearly calculations use EBITDAre for the 12-month period. * This is a non-GAAP financial measure. Please refer to Glossary of REIT Terms. Years Ended December 31, (2)

Page 22 of 25 Components of Net Asset Value (In thousands) (Unaudited) Three Months Ended June 30, 2025 Quarterly property net operating income (PNOI) 129,184$ Stabilized occupancy adjustment (97.0% occupancy) 1,894 (1) Development and value-add projects adjustment (100% occupancy) 10,792 (2) Acquisitions and dispositions adjustment 15 (3) Straight-line rent income adjustment (4,695) Market rent amortization - acquired leases (1,520) Adjusted PNOI 135,670$ x 4 Annualized PNOI 542,680$ June 30, 2025 Cash and cash equivalents 32,921$ Company's share of unconsolidated investment assets, net of non-cash assets 107 Other assets, net of non-cash assets 21,116 Prospective development (primarily land) - cumulative costs incurred 304,448 Total Other Assets 358,592$ Liabilities, net of non-cash liabilities 1,720,674$ Projected costs remaining on current development pipeline 163,283 (4) Company's share of unconsolidated investment liabilities, net of non-cash liabilities 63 Total Liabilities 1,884,020$ Shares Outstanding 52,687 (1) Adjustment reflects the potential PNOI impact of leasing the operating portfolio to a stabilized average occupancy of 97.0%. This will add PNOI when average occupancy is below 97.0% and subtract from PNOI when average occupancy is above 97.0%. (2) Adjustment reflects the potential additional PNOI impact of development and value-add projects in lease-up, under construction and transferred to the operating portfolio during the current quarter at 100% occupancy. (4) Adjustment includes projected remaining costs on development and value-add projects in lease-up and under construction as well as projected remaining costs on projects transferred from development to the operating portfolio during the current quarter. (3) Adjustment reflects the PNOI for real estate properties acquired or sold during the quarter. See page 13 for a complete list of acquisitions and dispositions during the quarter.

Page 23 of 25 Outlook for 2025 (Unaudited) Q3 2025 Y/E 2025 Q3 2025 Y/E 2025 Net income attributable to common stockholders $ 62,857 251,206 67,115 258,598 Depreciation and amortization 55,058 217,899 55,058 217,899 Funds from operations attributable to common stockholders* $ 117,915 469,105 122,173 476,497 Weighted average shares outstanding - Diluted 53,233 52,796 53,233 52,796 Per share data (diluted): Net income attributable to common stockholders $ 1.18 4.76 1.26 4.90 Funds from operations attributable to common stockholders 2.22 8.89 2.30 9.03 The following assumptions were used for the mid-point: Metrics FFO per share $8.89 - $9.03 $8.84 - $9.04 $8.35 FFO per share increase over prior year 7.3% 7.1% 7.2% FFO per share, excluding gain on involuntary conversion and business interruption claims $8.85 - $8.99 $8.81 - $9.01 $8.31 FFO per share increase over prior year, excluding gain on involuntary conversion and business interruption claims 7.3% 7.2% 7.9% Same PNOI growth: cash basis (1) 6.0% - 7.0% (2) 5.8% - 6.8% (2) 5.6% Average month-end occupancy — Operating portfolio 95.6% - 96.4%(3) 95.6% - 96.6% 96.8% Development starts: Square feet 1.7 million 1.8 million 1.6 million Projected total investment $215 million $250 million $230 million Operating property acquisitions $160 million $150 million $390 million Operating property dispositions (Potential gains on dispositions are not included in the projections) $60 million $20 million $14 million Gross capital proceeds (4) $265 million $260 million $724 million General and administrative expense $23.4 million $22.8 million $20.6 million Low Range (In thousands, except per share data) High Range *This is a non-GAAP financial measure. Please refer to Glossary of REIT Terms. Revised Guidance for Year 2025 April Earnings Release Guidance for Year 2025 Actual for Year 2024 (1) Excludes straight-line rent adjustments, amortization of market rent intangibles for acquired leases, and income from lease terminations. (2) Includes properties which have been in the operating portfolio since 1/1/24 and are projected to be in the operating portfolio through 12/31/25; includes 54,223,000 square feet. (4) Gross capital proceeds includes proceeds raised from external sources, such as new long-term debt or equity issuances; excludes borrowings on the unsecured bank credit facilities. (3) Represents estimated average month-end occupancy from January-December 2025. Average month-end occupancy for July-September 2025 is estimated to be between 95.3%-96.1%.

Page 24 of 25 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 Involuntary Conversion and Business Interruption Claims: A reporting measure calculated as FFO (as defined above), adjusted to exclude gain on involuntary conversion and business interruption claims. The Company believes that this exclusion presents a more meaningful comparison of operating performance. Interest and Fixed Charge Coverage Ratio: A non-GAAP financial measure calculated by dividing the Company’s EBITDAre by its interest expense. We believe this ratio is useful to investors because it provides a basis for analysis of the Company’s leverage, operating performance and its ability to service the interest payments due on its debt. Industrial Properties: Generally consisting of one or more buildings comprised 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 25 of 25 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 (“REIT”): 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 rate changes on new and renewal leases: Rental rate 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, for leases signed during the reporting period. If free rent is given, then the first positive full rent value is used. Rent amounts exclude base stop amounts, holdover rent, and premium or discounted rent amounts. This calculation excludes leases with terms of 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, 2024 through June 30, 2025. 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. Properties meeting either of the following two conditions are considered value-add properties: (1) Less than 75% leased as of the acquisition date (or will be less than 75% leased within one year of acquisition date based on near term lease roll), or (2) 20% or greater of the cumulative gross cost will be spent to redevelop the property. Properties qualifying under these conditions are placed into Value-Add Properties in the quarter in which (1) they are acquired, if condition 1 above is met, or (2) when construction to redevelop begins. Value-Add Properties are moved into the operating portfolio upon stabilization, meaning the earlier of achieving 90% or greater occupancy or 12 months from the acquisition date or completion of the redevelopment, as applicable.