EASTGROUP PROPERTIES INC

The Compensation Committee relies on the peer group analysis prepared by FPC to evaluate pay levels for our executive officers. The peer group recommended by FPC and approved by the Compensation Committee consists of public real estate companies. FPC analyzes competitive total direct compensation at the peer REITs listed below, as disclosed in their proxy statements for prior years, as well as information contained in FPC’s proprietary database. The Compensation Committee evaluates the appropriateness of peer groups annually (based on merger and acquisition activity, growth, property focus, etc.) and makes adjustments accordingly.

SUMMARY

•FPC prepared discussion materials regarding its proposed peer group for examining compensation throughout 2024 to determine the peer group for 2025.

•Two companies included in the 2024 peer group were removed due to mergers, and one company was added to the 2025 peer group by FPC recommendation.

•The Compensation Committee reviewed FPC’s recommendations and approved the peer group to be considered in determining 2025 compensation.

As shown below, the peer group used for determining 2025 compensation consisted of 14 exchange-listed REITs, which (i) operate across multiple asset classes, (ii) are similar in size to the Company in terms of market capitalization, (iii) are similar in performance to the Company in terms of three‑year annualized TSR and/or (iv) are headquartered in high-growth regions of the United States. The Compensation Committee also considered performance on recent “say-on-pay” advisory votes when determining the peer group. The peer group companies for 2025 were as follows:

When developing the peer group used for determining the 2025 executive compensation, FPC and the Compensation Committee considered the following comparative statistics, with data shown as of the time of the executive benchmarking analysis:

FPC conducted a study that compared the Company’s compensation for the executive officers with compensation of the top five executives of each of the companies included in the peer group. In addition, FPC analyzed target compensation for all executive officers as compared to the peer group. The Compensation Committee then used the peer group data, survey information and other relevant factors to establish the 2025 compensation program for our executive officers. These factors provided the framework for compensation decision making and final decisions regarding the compensation opportunity for each executive officer. While the Compensation Committee considered the 50th percentile of the peer group as a benchmark, it did not target a specific percentile to set compensation. Additionally, no single factor was determinative in setting pay levels, nor was the impact of any factor on the determination of pay levels quantifiable. The below total capitalization data is as of September 30, 2024.