EASTGROUP PROPERTIES INC

Previous wording

•potentially catastrophic events, such as escalation or expansion of the war in the Middle East, other acts of war, civil unrest or terrorism; and

Current wording

•potentially catastrophic events, such as acts of war, civil unrest and terrorism, including escalation or expansion of the war in the Middle East; and

Previous wording

EastGroup’s goal is to maximize shareholder value by being a leading provider in its markets of functional, flexible and quality business distribution space for location-sensitive customers (primarily in the 20,000 to 100,000 square foot range). The Company develops, acquires and operates distribution facilities, the majority of which are clustered around major transportation features in supply constrained submarkets in high-growth markets. The Company’s core markets are in the states of Texas, Florida, California, Arizona and North Carolina.

Current wording

EastGroup is a self-administered equity real estate investment trust (“REIT”) focused on maximizing shareholder value by being a leading provider in its markets of functional, flexible and quality business distribution space for location-sensitive customers (primarily in the 20,000 to 100,000 square foot range). The Company develops, acquires and operates distribution facilities, the majority of which are clustered around major transportation features in supply constrained submarkets in high-growth markets. The Company’s core markets are in the states of Texas, Florida, California, Arizona and North Carolina. The Company is organized as a Maryland corporation and has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended. We utilize an umbrella partnership real estate investment trust (“UPREIT”) organizational structure to hold all or substantially all of our assets through EastGroup Properties, L.P., our operating partnership.

Previous wording

As of March 31, 2026, EastGroup owned 556 industrial properties in 12 states. As of that same date, the Company’s portfolio, including development projects and value-add properties in lease-up and under construction, included approximately 65,400,000 square feet consisting of 516 business distribution properties containing 59,500,000 square feet, 19 bulk distribution properties containing 5,100,000 square feet, and 21 business service properties containing 800,000 square feet.

Current wording

As of June 30, 2026, EastGroup owned 557 industrial properties in 12 states. As of that same date, the Company’s portfolio, including development projects and value-add properties in lease-up and under construction, included approximately 65,700,000 square feet consisting of 517 business distribution properties containing 59,800,000 square feet, 19 bulk distribution properties containing 5,100,000 square feet, and 21 business service properties containing 800,000 square feet.

Previous wording

During the three months ended March 31, 2026, economic uncertainty and stock market volatility continued due to a number of factors, including persistent inflation, interest rate uncertainty, concerns about tariffs, supply chain or trade disruptions and geopolitical conflict. While these factors did not have a significant adverse impact on EastGroup during the three months ended March 31, 2026, they may adversely impact the Company in the future. Most of the Company’s leases require the tenants to pay their pro rata share of operating expenses, including real estate taxes, insurance and common area maintenance, thereby reducing the Company’s exposure to increases in operating expenses resulting from inflation or other factors. Additionally, most of the Company's leases include scheduled rent increases. In the event inflation causes increases in the Company’s general and administrative expenses, or higher interest rates increase the Company’s cost of doing business, such increased costs would not be passed through to tenants and could adversely affect the Company’s results of operations. The Company continues to monitor inflation and interest rates, as well as direct and indirect impacts resulting from the uncertainty related to, or changes to, the overall regulatory and economic environment and from ongoing conflict in the Middle East.

Current wording

During the six months ended June 30, 2026, economic uncertainty and stock market volatility continued due to a number of factors, including persistent inflation, interest rate uncertainty, concerns about tariffs, supply chain or trade disruptions and geopolitical conflict. While these factors did not have a significant adverse impact on EastGroup during the six months ended June 30, 2026, they may adversely impact the Company in the future. Most of the Company’s leases require the tenants to pay their pro rata share of operating expenses, including real estate taxes, insurance and common area maintenance, thereby reducing the Company’s exposure to increases in operating expenses resulting from inflation or other factors. Additionally, most of the Company's leases include scheduled rent increases. In the event inflation causes increases in the Company’s general and administrative expenses, or higher interest rates increase the Company’s cost of doing business, such increased costs would not be passed through to tenants and could adversely affect the Company’s results of operations. The Company continues to monitor inflation and interest rates, as well as direct and indirect impacts resulting from the uncertainty related to, or changes to, the overall regulatory and economic environment and from ongoing conflict in the Middle East.

Previous wording

During the three months ended March 31, 2026, EastGroup sold, and subsequently settled the issuance of, 365,620 shares of common stock directly through sales agents under its at-the-market (“ATM”) common stock offering program at a weighted average price of $191.46 per share, providing aggregate net proceeds to the Company of $69,300,000.

Current wording

During the six months ended June 30, 2026, EastGroup sold, and subsequently settled the issuance of, 365,620 shares of common stock directly through sales agents under its at-the-market (“ATM”) common stock offering program at a weighted average price of $191.46 per share, providing aggregate net proceeds to the Company of $69,300,000.

Previous wording

During the three months ended March 31, 2026, EastGroup entered into forward equity sale agreements with certain financial institutions acting as forward counterparties under its ATM common stock offering program with respect to 252,136 shares of common stock with an initial weighted average forward price of $196.16 per share. The Company did not receive any proceeds from the sale of common shares by the forward counterparties at the time we entered into forward equity sale agreements.

Current wording

-26- common stock with an initial weighted average forward price of $201.45 per share. The Company did not receive any proceeds from the sale of common shares by the forward counterparties at the time we entered into forward equity sale agreements.

Previous wording

The Company’s primary source of revenue is rental income. During the three months ended March 31, 2026, EastGroup executed new and renewal leases on 2,048,000 square feet (representing 3.3% of the operating portfolio’s total square footage of 61,901,000). For new and renewal leases signed during the first three months of 2026, average rental rates increased by 36.8%, as compared to the former leases on the same spaces.

Current wording

The Company’s primary source of revenue is rental income. During the six months ended June 30, 2026, EastGroup executed new and renewal leases on 4,887,000 square feet (representing 7.8% of the operating portfolio’s total square footage of 62,523,000). For new and renewal leases signed during the first six months of 2026, average rental rates increased by 35.2%, as compared to the former leases on the same spaces.

Previous wording

On a diluted per share basis, Net Income Attributable to EastGroup Properties, Inc. Common Stockholders was $1.77 for the three months ended March 31, 2026, compared to $1.14 for the same period of 2025, a 55.3% increase. See the Company’s analysis of performance trends below for further details.

Current wording

On a diluted per share basis, Net Income Attributable to EastGroup Properties, Inc. Common Stockholders was $3.17 for the six months ended June 30, 2026, compared to $2.35 for the same period of 2025, a 34.9% increase. See the Company’s analysis of performance trends below for further details.

Previous wording

Property Net Operating Income (“PNOI”), Excluding Income from Lease Terminations, from same properties (defined as operating properties owned during the entire period from January 1, 2025 through March 31, 2026), increased 7.5% for the three months ended March 31, 2026, as compared to the same period in 2025.

Current wording

Property Net Operating Income (“PNOI”), Excluding Income from Lease Terminations, from same properties (defined as operating properties owned during the entire period from January 1, 2025 through June 30, 2026), increased 6.8% for the six months ended June 30, 2026, as compared to the same period in 2025.

Previous wording

EastGroup’s operating portfolio was 96.5% leased and 95.9% occupied as of March 31, 2026, compared to 97.3% and 96.5%, respectively, at March 31, 2025. As of April 21, 2026, the operating portfolio was 96.4% leased and 95.7% occupied. As of March 31, 2026, leases approximating 8.2% of the operating portfolio, based on a percentage of annualized base rent, were scheduled to expire during the remainder of 2026. This percentage was reduced to 7.1% as of April 21, 2026.

Current wording

EastGroup’s operating portfolio was 96.8% leased and 95.6% occupied as of June 30, 2026, compared to 97.1% and 96.0%, respectively, at June 30, 2025. As of July 21, 2026, the operating portfolio was 96.9% leased and 95.6% occupied. As of June 30, 2026, leases approximating 4.5% of the operating portfolio, based on a percentage of annualized base rent, were scheduled to expire during the remainder of 2026. This percentage was reduced to 3.6% as of July 21, 2026.

Previous wording

During the three months ended March 31, 2026, the Company began construction of four development projects containing 586,000 square feet in four markets. EastGroup also transferred two development projects (562,000 square feet) in two markets from Development and value-add properties to Real estate properties, with costs of $68,845,000 at the date of transfer. As of March 31, 2026, EastGroup’s development and value-add program consisted of 19 projects (3,497,000 square feet) located in 13 markets. The projected total investment for the development projects, which were collectively 30.1% leased as of April 21, 2026, is $508,100,000, of which $186,807,000 remained to be invested as of March 31, 2026.

Current wording

During the six months ended June 30, 2026, the Company began construction of six development projects containing 933,000 square feet in five markets. EastGroup also transferred six development projects (1,231,000 square feet) in five markets from Development and value-add properties to Real estate properties, with costs of $124,991,000 at the date of transfer. As of June 30, 2026, EastGroup’s development and value-add program consisted of 17 projects (3,175,000 square feet) located in 12 markets. The projected total investment for the development projects, which were collectively 21.7% leased as of July 21, 2026, is $486,800,000, of which $175,105,000 remained to be invested as of June 30, 2026.

Previous wording

During the three months ended March 31, 2026, EastGroup acquired an operating property in Jacksonville, containing 177,000 square feet for $38,130,000. There were no value-add property acquisitions during the period.

Current wording

During the six months ended June 30, 2026, EastGroup acquired an operating property in Jacksonville, containing 177,000 square feet for $38,130,000. There were no value-add property acquisitions during the period.

Previous wording

During the three months ended March 31, 2026, EastGroup sold a 398,000 square foot operating property in Fresno, generating gross sales proceeds of $37,000,000. The Company recognized $24,885,000 in Gain on sales of real estate investments during the three months ended March 31, 2026.

Current wording

During the six months ended June 30, 2026, EastGroup sold two operating properties, in Fresno and Jacksonville, totaling 444,000 square feet, generating gross sales proceeds of $44,000,000. The Company recognized $30,074,000 in Gain on sales of real estate investments during the six months ended June 30, 2026.

Previous wording

-25- after adjustments for unconsolidated partnerships and joint ventures. FFO is not considered as an alternative to net income (determined in accordance with GAAP) as an indication of the Company’s financial performance, nor is it a measure of the Company’s liquidity or indicative of funds available to provide for the Company’s cash needs, including its ability to make distributions. The Company’s key drivers affecting FFO are changes in PNOI (as discussed below), interest rates, the amount of leverage the Company employs and general and administrative expenses.

Current wording

FFO is calculated as net income (loss) attributable to common stockholders computed in accordance with U.S. 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 not considered as an alternative to net income (determined in accordance with GAAP) as an indication of the Company’s financial performance, nor is it a measure of the Company’s liquidity or indicative of funds available to provide for the Company’s cash needs, including its ability to make distributions. The Company’s key drivers affecting FFO are changes in PNOI (as discussed below), interest rates, the amount of leverage the Company employs and general and administrative expenses.

Previous wording

EastGroup sometimes refers to PNOI from Same Properties as “Same PNOI”; the Company also presents Same PNOI, Excluding Income from Lease Terminations. Same Properties is defined as 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 also excluded. For the three months ended March 31, 2026, Same Properties includes properties which were included in the operating portfolio for the entire period from January 1, 2025 through March 31, 2026. The Company presents Same PNOI and Same PNOI, Excluding Income from Lease Terminations, as a 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.

Current wording

EastGroup sometimes refers to PNOI from Same Properties as “Same PNOI”; the Company also presents Same PNOI, Excluding Income from Lease Terminations. Same Properties is defined as 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 also excluded. For the three and six months ended June 30, 2026, Same Properties includes properties which were included in the operating portfolio for the entire period from January 1, 2025 through June 30, 2026. The Company presents Same PNOI and Same PNOI, Excluding Income from Lease Terminations, as a 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.

Previous wording

The following table presents reconciliations of Net Income to PNOI, Same PNOI and Same PNOI, Excluding Income from Lease Terminations, for the three months ended March 31, 2026 and 2025.

Current wording

The following table presents reconciliations of Net Income to PNOI, Same PNOI and Same PNOI, Excluding Income from Lease Terminations, for the three and six months ended June 30, 2026 and 2025.

Previous wording

PNOI was calculated as follows for the three months ended March 31, 2026 and 2025.

Current wording

PNOI was calculated as follows for the three and six months ended June 30, 2026 and 2025.

Previous wording

The following table presents reconciliations of Net Income Attributable to EastGroup Properties, Inc. Common Stockholders to FFO Attributable to Common Stockholders for the three months ended March 31, 2026 and 2025.

Current wording

The following table presents reconciliations of Net Income Attributable to EastGroup Properties, Inc. Common Stockholders to FFO Attributable to Common Stockholders for the three and six months ended June 30, 2026 and 2025.

Previous wording

•Net Income Attributable to EastGroup Properties, Inc. Common Stockholders for the three months ended March 31, 2026 was $94,624,000 ($1.77 per basic and diluted share), compared to $59,423,000 ($1.14 per basic and diluted share) for the same period in 2025. See Results of Operations for further analysis.

Current wording

•Net Income Attributable to EastGroup Properties, Inc. Common Stockholders for the three and six months ended June 30, 2026 was $75,523,000 ($1.41 per basic and $1.40 per diluted share) and $170,147,000 ($3.18 per basic and $3.17 per diluted share), respectively, compared to $63,299,000 ($1.21 per basic and $1.20 per diluted share) and $122,722,000 ($2.35 per basic and diluted share), respectively, for the same periods in 2025. See Results of Operations for further analysis.

Previous wording

•The change in FFO per share represents the increase or decrease in FFO per share from the current period compared to the same period in the prior year. For the three months ended March 31, 2026, FFO was $2.34 per diluted share

Current wording

•The change in FFO per share represents the increase or decrease in FFO per share from the current period compared to the same period in the prior year. For the three months ended June 30, 2026, FFO was $2.36 per diluted share compared with $2.21 per diluted share for the same period of 2025, an increase of 6.8%. For the six months ended June 30, 2026, FFO was $4.70 per diluted share compared with $4.37 per diluted share for the same period of 2025, an increase of 7.6%. FFO increased during the three and six months ended June 30, 2026, as compared to the same periods in 2025, primarily due to the increase in PNOI, partially offset by an increase in general and administrative expense and interest expense.

Previous wording

•For the three months ended March 31, 2026, PNOI increased by $13,842,000, or 11.0%, as compared to the same period in 2025. PNOI increased $8,783,000 from same property operations, $2,703,000 from newly developed and value-add properties and $2,658,000 from 2025 and 2026 acquisitions.

Current wording

•For the three months ended June 30, 2026, PNOI increased by $13,732,000, or 10.6%, as compared to the same period in 2025. PNOI increased $7,644,000 from same property operations, $3,561,000 from newly developed and value-add properties and $2,965,000 from 2025 and 2026 acquisitions; PNOI decreased $671,000 due to operating properties sold in 2025 and 2026.

Previous wording

•The change in Same PNOI represents the PNOI increase or decrease for the same operating properties owned during the entire period from January 1, 2025 through March 31, 2026. Same PNOI, excluding income from lease terminations, increased 7.5% for the three months ended March 31, 2026, as compared to the same period in 2025.

Current wording

•The change in Same PNOI represents the PNOI increase or decrease for the same operating properties owned during the entire period from January 1, 2025 through June 30, 2026. Same PNOI, excluding income from lease terminations, increased 6.2% and 6.8% for the three and six months ended June 30, 2026, respectively, as compared to the same periods in 2025.

Previous wording

•Same property average occupancy represents the average month-end percentage of leased square footage for which the lease term has commenced as compared to the total leasable square footage for the same operating properties owned during the entire current and prior year reporting periods (January 1, 2025 through March 31, 2026). Same property average occupancy was 97.3% for the three months ended March 31, 2026, compared to 96.1% for the same period of 2025.

Current wording

•Same property average occupancy represents the average month-end percentage of leased square footage for which the lease term has commenced as compared to the total leasable square footage for the same operating properties owned during the entire current and prior year reporting periods (January 1, 2025 through June 30, 2026). Same property average occupancy was 96.9% for the three months ended June 30, 2026, compared to 96.3% for the same period of 2025. Same property average occupancy was 97.1% for the six months ended June 30, 2026, compared to 96.2% for the same period of 2025.

Previous wording

•The same property average rental rate calculated in accordance with GAAP represents the average annual rental rates of leases in place for the same operating properties owned during the entire current and prior year reporting periods (January 1, 2025 through March 31, 2026). The same property average rental rate was $9.26 per square foot for the three months ended March 31, 2026, compared to $8.62 per square foot for the same period of 2025.

Current wording

•The same property average rental rate calculated in accordance with GAAP represents the average annual rental rates of leases in place for the same operating properties owned during the entire current and prior year reporting periods (January 1, 2025 through June 30, 2026). The same property average rental rate was $9.34 and $9.30 per square foot for the three and six months ended June 30, 2026, respectively, compared to $8.80 and $8.71 per square foot for the same periods of 2025.

Previous wording

•Occupancy is the percentage of leased square footage for which the lease term has commenced as compared to the total leasable square footage as of the close of the reporting period. Occupancy at March 31, 2026 was 95.9%. Quarter-end occupancy ranged from 95.9% to 96.5% over the previous four quarters ended March 31, 2025 to December 31, 2025.

Current wording

•Occupancy is the percentage of leased square footage for which the lease term has commenced as compared to the total leasable square footage as of the close of the reporting period. Occupancy at June 30, 2026 was 95.6%. Quarter-end occupancy ranged from 95.9% to 96.5% over the previous four quarters ended June 30, 2025 to March 31, 2026.

Previous wording

•Rental rate change represents the rental rate increase or decrease on new and renewal leases compared to the prior leases on the same space. Rental rate increases on new and renewal leases (3.3% of the operating portfolio’s total square footage) averaged 36.8% for the three months ended March 31, 2026.

Current wording

•Rental rate change represents the rental rate increase or decrease on new and renewal leases compared to the prior leases on the same space. Rental rate increases on new and renewal leases (4.5% of the operating portfolio’s total square footage) averaged 34.1% for the three months ended June 30, 2026. For the six months ended June 30, 2026, rental rate increases on new and renewal leases (7.8% of the operating portfolio’s total square footage) averaged 35.2%.

Previous wording

EastGroup’s Total Assets were $5,490,264,000 at March 31, 2026, an increase of $58,457,000 from December 31, 2025. Total Liabilities decreased $21,935,000 to $1,913,284,000, and Total Equity increased $80,392,000 to $3,576,980,000 during the same period. The following paragraphs explain these changes in detail.

Current wording

EastGroup’s Total Assets were $5,522,866,000 at June 30, 2026, an increase of $91,059,000 from December 31, 2025. Total Liabilities increased $12,249,000 to $1,947,468,000, and Total Equity increased $78,810,000 to $3,575,398,000 during the same period. The following paragraphs explain these changes in detail.

Previous wording

Real estate properties increased $74,135,000 during the three months ended March 31, 2026, primarily due to: (i) the transfer of projects from Development and value-add properties to Real estate properties; (ii) the acquisition of an operating property; (iii) capital improvements at the Company’s properties; and (iv) costs incurred on development and value-add projects subsequent to transfer to Real estate properties discussed below. The increases were partially offset by the sale of an operating property, the transfer of one property from Real estate properties to Development and value-add properties and the reclassification of one property from Real estate properties to Real estate assets held for sale.

Current wording

Real estate properties increased $147,339,000 during the six months ended June 30, 2026, primarily due to: (i) the transfer of projects from Development and value-add properties to Real estate properties; (ii) the acquisition of an operating property; (iii) capital improvements at the Company’s properties; and (iv) costs incurred on development and value-add projects subsequent to transfer to Real estate properties discussed below. The increases were partially offset by the sale of operating properties and the transfer of a property from Real estate properties to Development and value-add properties.

Previous wording

During the three months ended March 31, 2026, EastGroup acquired the following properties:

Current wording

During the six months ended June 30, 2026, EastGroup acquired the following properties:

Previous wording

There were no acquisitions of value-add properties or development land during the three months ended March 31, 2026.

Current wording

There were no acquisitions of value-add properties or development land during the six months ended June 30, 2026.

Previous wording

During the three months ended March 31, 2026, EastGroup sold a 398,000 square foot operating property in Fresno, generating gross sales proceeds of $37,000,000. The Company recognized $24,885,000 in Gain on sales of real estate investments during the three months ended March 31, 2026.

Current wording

During the six months ended June 30, 2026, EastGroup sold two operating properties, in Fresno and Jacksonville, totaling 444,000 square feet, generating gross sales proceeds of $44,000,000. The Company recognized $30,074,000 in Gain on sales of real estate investments during the six months ended June 30, 2026.

Previous wording

During the three months ended March 31, 2026, the Company made capital improvements of $13,888,000 on existing properties (included in the Real Estate Improvements table under Results of Operations). Also, the Company incurred costs of $2,233,000 on development and value-add properties subsequent to transfer to Real estate properties; the Company records these expenditures as development and value-add costs on the Consolidated Statements of Cash Flows.

Current wording

-31- on development and value-add properties subsequent to transfer to Real estate properties; the Company records these expenditures as development and value-add costs on the Consolidated Statements of Cash Flows.

Previous wording

Development and value-add propertiesat March 31, 2026 consisted of projects in lease-up and under construction of $321,293,000 and prospective development (primarily land) of $377,119,000. The Company’s total investment in Development and value-add propertiesat March 31, 2026 was $698,412,000 compared to $710,200,000 at December 31, 2025. The decrease in Development and value-add properties was primarily due to the transfer of two development and value-add projects to Real estate properties during the three months ended March 31, 2026 with a total investment of $68,845,000 as of the date of transfer.

Current wording

Development and value-add propertiesat June 30, 2026 consisted of projects in lease-up and under construction of $311,695,000 and prospective development (primarily land) of $379,821,000. The Company’s total investment in Development and value-add propertiesat June 30, 2026 was $691,516,000 compared to $710,200,000 at December 31, 2025. The decrease in Development and value-add properties was primarily due to the transfer of six development and value-add projects to Real estate properties during the six months ended June 30, 2026 with a total investment of $124,991,000 as of the date of transfer.

Previous wording

Total capital invested for development during the first three months of 2026 was $45,312,000, which consisted of improvement costs of $43,079,000 on development and value-add properties and costs of $2,233,000 on properties subsequent to transfer to Real estate properties. The capitalized costs incurred on development and value-add properties subsequent to transfer to Real estate properties include capital improvements at the properties and do not include other capitalized costs associated with development (i.e., interest expense, property taxes and internal personnel costs). The Company capitalized internal development costs of $2,339,000 for the three months ended March 31, 2026, compared to $1,954,000 for the same period of 2025. The increase was due to variations in timing and volume of development projects under construction.

Current wording

Total capital invested for development during the first six months of 2026 was $99,525,000, which consisted of improvement costs of $92,329,000 on development and value-add properties and costs of $7,196,000 on properties subsequent to transfer to Real estate properties. The capitalized costs incurred on development and value-add properties subsequent to transfer to Real estate properties include capital improvements at the properties and do not include other capitalized costs associated with development (i.e., interest expense, property taxes and internal personnel costs). The Company capitalized internal development costs of $1,785,000 and $4,124,000 for the three and six months ended June 30, 2026, respectively, compared to $1,717,000 and $3,671,000 for the same periods of 2025. The increase was due to variations in timing and volume of development projects under construction.

Previous wording

A summary of the Company's Development and Value-Add Properties for the three months ended March 31, 2026 follows:

Current wording

A summary of the Company's Development and Value-Add Properties for the six months ended June 30, 2026 follows:

Previous wording

Accumulated depreciation on real estate, development and value-add properties increased $24,836,000 during the three months ended March 31, 2026, primarily due to depreciation expense of $45,199,000 partially offset by the sale of an operating

Current wording

Accumulated depreciation on real estate, development and value-add properties increased $69,835,000 during the six months ended June 30, 2026, primarily due to depreciation expense of $91,101,000 partially offset by the sale of operating properties and write-offs of fully depreciated assets.

Previous wording

Cash and cash equivalents increased $30,351,000 during the three months ended March 31, 2026. Refer to the Consolidated Statements of Cash Flows and Liquidity and Capital Resourcesfor further details.

Current wording

Cash and cash equivalents increased $32,375,000 during the six months ended June 30, 2026. Refer to the Consolidated Statements of Cash Flows and Liquidity and Capital Resourcesfor further details.

Previous wording

Other assets, net decreased $10,635,000 during the three months ended March 31, 2026. See Note 9 in the Notes to Consolidated Financial Statements for further details.

Current wording

Other assets, net increased $209,000 during the six months ended June 30, 2026. See Note 9 in the Notes to Consolidated Financial Statements for further details.

Previous wording

Unsecured bank credit facilities, net of debt issuance costs decreased $18,596,000 during the three months ended March 31, 2026, primarily due to repayments of $130,472,000, partially offset by borrowings of $111,627,000. The Company’s credit facilities are described in greater detail in Liquidity and Capital Resources.

Current wording

Unsecured bank credit facilities, net of debt issuance costs decreased $18,344,000 during the six months ended June 30, 2026, primarily due to repayments of $153,389,000, partially offset by borrowings of $134,544,000. The Company’s credit facilities are described in greater detail in Liquidity and Capital Resources.

Previous wording

Unsecured debt, net of debt issuance costs increased $277,000 during the three months ended March 31, 2026, primarily due to debt issuance cost activity during the period. The borrowings and repayments on Unsecured debt, net of debt issuance costs are described in greater detail under Liquidity and Capital Resources.

Current wording

Unsecured debt, net of debt issuance costs increased $557,000 during the six months ended June 30, 2026, primarily due to debt issuance cost activity during the period. The borrowings and repayments on Unsecured debt, net of debt issuance costs are described in greater detail under Liquidity and Capital Resources.