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Investor Presentaiton

Performance of Properties in Portfolio (1) Sales of end tenants almost on the same level but high occupancy rate in actual end tenants. YoY Sales Comparison (Note 1) of End Tenants in 34 Retail Domestic Properties Portfolio 120% /EON イオンリート 110% 103.6% 100.0% 97.9% 99.1% 100.1% 100.6% 101.3% 100% 96.8% 97.2% 97.9% 96.8% 99.5% 100.4% 96.8% 90% 80% Dec 2013- Mar-May Jun-Aug Feb 2014 2014 2014 Sep-Nov Dec 2014- Mar-May Jun-Aug Sep-Nov Dec 2015- Mar-May Jun-Aug 2014 Feb 2015 2015 2015 2015 Feb 2016 2016 2016 Sep-Nov Dec 2016- Mar-May 2016 Feb 2017 2017 Actual End-Tenant Occupancy Rate (Note 2) in 34 Retail Domestic Properties Portfolio 99.5% 100% 99% 98% 97% 96% 99.5% 99.4% 99.5% 99.7% 99.2% 99.4% 99.3% 99.3% 99.3% 99.0% 99.0% 99.2% 95% May 2014 Aug 2014 Nov 2014 Feb 2015 May 2015 Aug 2015 Nov 2015 Feb 2016 May 2016 Aug 2016 Nov 2016 Feb 2017 May 2017 (Notes) 1. The total amount of sales of end tenants of the 34 retail properties portfolio for the four periods of March-May, June-August, September-November and December-February each year as a percentage of sales for the same periods of the previous year. 2. The percentage of total leased area in the 34 domestic retail properties that is actually occupied by end tenants (including area in which end tenants have committed to opening stores). As for Aeon Kireuriwari shopping center, occupancy rates results reflect from May 2016. 3. Year-on-year sales comparisons and the actual occupancy rates shown above are data based on interviews of master lease companies. The percentage of properties with master lease contracts is 100%. 4. Year-on-year sales comparisons and the actual occupancy rates shown above have been rounded to the nearest hundredth of a percent. 23
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