Investor Presentaiton

Major revitalization investments with rent increase (Results and Planned) Result/ Planned Property name Rent revision timing Contents Revitalization investment Amount (yen) (Note1 2) Effect of revitalization investment (annualized) Rent increase(yen) Return on investment Result AEON MALL Nogata Mar. 2014 Exterior wall repair work 109 mm 8 mm 7.4% Result AEON MALL Hiezu Apr. 2015 Large-scale renewal 105 mm 8 mm 7.7% Result AEON Lake Town kaze Apr. 2015 Large-scale renewal 312 mm 21 mm 6.8% Result AEON MALL Morioka Apr. 2016 Expansion of floor space 790 mm 57 mm 7.3% Result AEON MALL Yokkaichi-Kita Jul. 2017 Food court renewal 113 mm 9 mm 8.5% Result AEON MALL Ota Jul. 2017 New escalator installation 199 mm 14 mm 7.3% Result AEON MALL Tomakomai (note3) Aug. 2017 Exterior wall painting 226 mm 5 mm 2.2% Result AEON MALL Suzuka Nov. 2017 Large-scale renewal 296 mm 22 mm 7.7% Result AEON MALL Kurashiki Dec. 2017 Large-scale renewal 132 mm 9 mm 7.5% Result AEON Kireuriwari SC Mar. 2018 Exterior wall painting 129 mm 6 mm 5.1% Result AEON MALL Kofu Showa Sep. 2018 Construction of existing building due 781 mm 50 mm 6.5% to extension Result AEON MALL Meiwa Nov. 2019 Large-scale renewal 162 mm 13 mm 8.3% Result AEON Ueda SC Dec. 2021 Exterior wall painting 271 mm 17 mm 6.5% Result AEON MALL Shimotsuma Dec. 2022 Exterior wall painting 360 mm 23 mm 6.5% Result AEON MALL Sapporo-Hiraoka Feb. 2023 Invertor board installation 20 mm 1 mm 7.8% Result AEON MALL Shimotsuma Mar. 2023 Floor replacement work 14 mm 1 mm 6.7% Result Result AEON Chigasaki-Chuo SC AEON MALL Morioka Apr. 2023 Floor replacement work 11 mm 0.6 mm 6.0% May, 2023 Fire shutter installation 38 mm 3 mm 8.2% Planned AEON MALL Yokkaichi-Kita Oct. 2023 Partition wall repair work 9 mm 0.8 mm 9.3% Planned Planned AEON MALL Morioka AEON Ueda SC Dec. 2023 Drainage facility reinforcement work 20 mm 1 mm 8.2% Dec. 2023 Large-scale renewal 892 mm 57 mm 6.5% ÆON REIT Investment Corporation 68

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