EastGroup Properties (EGP) Proxy Filing summary

Executive summary

• Achieved 14th consecutive year of FFO growth (up 7.2%) and 10th consecutive year of double-digit rental rate increases; same property net operating income rose 5.6% in 2024.

• Portfolio expanded to 63.1 million square feet, with $403.8 million in acquisitions and 61 acres of land added in 2024.

• Declared $5.34 per share in annual dividends, marking 45 years of consecutive quarterly dividends and 13 years of increases.

• Maintained strong occupancy at 96.1% and achieved an 80th percentile total shareholder return among Nareit Industrial Index peers over three years.

• Continued focus on high-growth, supply-constrained markets and prudent capital allocation.

Voting matters and shareholder proposals

• Shareholders will vote to elect seven directors for one-year terms, ratify KPMG LLP as independent auditor for 2025, and approve a non-binding advisory vote on executive compensation.

• Board recommends voting FOR all director nominees, auditor ratification, and the say-on-pay proposal.

Board of directors and corporate governance

• Six of seven board nominees are independent; all key committees are fully independent.

• Board diversity enhanced: two women and one racially/ethnically diverse director; average nominee age and tenure reduced since 2020.

• Board and committees conduct annual evaluations and succession planning; robust director nomination and overboarding policies in place.

• Independent Chairman and CEO roles are separated; board size set at seven.