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Investor Presentaiton

Appraisal value (2/2) FPTerminal Property number Property name Acquisition price (Millions of yen) (Note 1) book value (Millions of yen) (Note 1) Unrealized gain (Millions of yen) (Note 2) Real estate appraisal value (mm) Capitalization rate based on direct capitalization method (%) 20th FP (Jan. 31, 2023) 21st FP (Jul. 31, 2023) 20th FP 21st FP Difference Difference (Jan. 31, 2023) Jul. 31, 2023) RSC-25 AEON MALL Oyama 6,280 5,279 1,030 6,210 6,310 100 6.6 6.5 0.1 RSC-26 AEON MALL Itamikoya 16,860 14,684 2,915 17,300 17,600 300 5.6 5.5 10.1 RSC-27 AEON MALL Kagoshima 13,400 11,700 1,899 13,400 13,600 200 5.9 5.8 10.1 RSC-28 AEON MALL Tsuchiura 12,030 10,164 1,935 11,900 12,100 200 6.2 6.1 0.1 RSC-29 AEON MALL Kahoku 9,940 7,805 2,794 10,500 10,600 100 6.8 10 6.7 0.1 RSC-30 AEON MALL Shimotsuma 9,552 8,533 2,066 10,400 10,600 200 6.3 6.2 0.1 RSC-31 AEON MALL Kyoto Gojo 13,333 12,702 1,197 13,900 13,900 4.8 4.8 RSC-32 AEON MALL Fukutsu 18,040 17,007 1,592 18,300 18,600 300 5.4 5.3 0.1 RSC-33 AEON Mall Tamadaira Woods 9,667 9,166 1,033 10,200 10,200 4.9 4.9 RSC-34 AEON MALL Takasaki 17,164 16,577 922 17,500 17,500 5.3 5.3 RSC-35 AEON MALL Narita 14,001 13,869 330 14,200 14,200 4.7 4.7 RSC-36 AEON MALL Shinkomatsu 15,350 14,683 816 15,500 15,500 RSC-37 AEON MALL Sagayamato 3,720 3,585 244 3,830 3,830 6.2 6.2 RSC-38 AEON MALL Wakayama 16,840 16,959 159 16,800 RSC-39 AEON MALL Miyakonojo Ekimae 4,460 4,519 9 4,510 5.7 CSC-1 AEON Chigasaki-Chuo Shopping Center 6,410 6,534 155 6,580 6,690 110 5.0 4.9 ▲0.1 CSC-2 AEON STYLE Kemigawahama 3,748 3,181 588 3,920 3,770 150 6.1 6.0 0.1 CSC-3 AEON Kireuriwari Shopping Center 4,394 4,081 668 4,760 4,750 10 5.1 5.1 CSC-4 AEON Ueda Shopping Center 5,350 5,267 572 5,840 5,840 6.5 6.5 L-1 Daiei-Kawasaki Process Center 14,280 13,114 3,085 15,800 16,200 400 4.5 4.4 0.1 L-2 AEON Minami-Osaka RDC 9,870 9,109 2,590 11,500 11,700 200 4.4 4.3 10.1 L-3 Daiei-Ibaraki Process Center 6,810 6,722 1,277 8,150 8,000 150 4.5 4.4 0.1 M-1 AEON Taman Universiti Shopping Centre (Note 6,7) 658 (RM20 million) 595 40 636 635 (RM18million) (RM2million) (RM20.7million) (RM20.5million) M-2 AEON MALL SEREMBAM 2 (Note 7) 5,252 (RM215 million) 7,405 7,475 (RM241million) (RM241million) Total (As of the end of the Jul. 2023) 468,332 80,965 476,599 499,599 ÆON REIT Investment Corporation 67
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