On September 26, 2018, Fredric H. Gould, a director of EastGroup Properties, Inc. since 1998, notified the company of his decision to retire from service on the board of directors following the completion of his current term. Consequently, Mr. Gould will not stand for re-election to the board of directors at the 2019 annual meeting of shareholders. Mr. Gould has notified the company that his refusal to stand for re-election is not based on any disagreement with the company.