EastGroup Properties, Inc. (EGP) Presents at BofA NY Global Real Estate Conference 2026 Prepared Remarks Transcript

EastGroup Properties, Inc. ( EGP ) BofA NY Global Real Estate Conference 2026 September 16, 2026 4:30 PM EDT Company Participants R. Dunbar - President Staci Tyler - Executive VP, CFO & Treasurer Marshall Loeb - CEO & Director Conference Call Participants Samir Khanal - BofA Securities, Research Division Andrew Berger - BofA Securities, Research Division Presentation Samir Khanal BofA Securities, Research Division Maybe on the operational side, I mean, where do you stand today as it relates to the leasing pipeline? Talk about kind of demand that you're seeing out there in the market. Let's compare that to 2Q, for example. R. Dunbar President Okay. Yes. So starting with Q2, that was a record quarter for us on leasing overall. We leased 3.9 million square feet. That's about 1.5 million of development leasing through the Q2 period, which, to put in perspective, that was more than what we leased in development all last year. And so if you heard us talk about the business in 2025, we talked a lot about inconsistencies where we'd see a really good quarter followed by a weaker quarter. What we've now seen really starting in Q4 of last year is some consistent demand. And that consistent demand has really been a big driver for us, both on the development side, where we've -- through Q3 and our update we provided the other day, we've leased 280,000 square feet of additional development leasing. That's allowed us to increase our development starts throughout the year. We're now at $325 million. And it feels like there's probably more upward pressure on that number as we sit today. Our occupancy numbers have also outpaced in July and August. We're sitting right at 96.1%, which is ahead of our plan that we had in Q1. So the demand trends seem to be there. We're seeing that