Investor Presentaiton

Notes (II) P.27 Points of the "Community Infrastructure Asset" (Note 1) Estimated with 36 properties listed in marketing report out of 40 domestically owned SRSC and RSC. (Note 2) Excerpted from the daytime 12hour motor vehicle traffic amount mentioned in "the 2021 National Road and Street Traffic Conditions Survey and Market Report". (Note 3) Estimated with 40 domestically owned properties including SRSC and RSC. (Note 4) "End tenant occupancy" is the ratio of the actual leased area (sublease area), which deducted vacant floor area from total leasable area, to the total leasable area (mater lease area) for the domestic retail facilities owned by the Invest Corporation (in total 44 facilities) calculated based on the preliminary figures provided by each mater lessee (as of the end of Jul. 2023). P.28 Stability of "Community Infrastructure Asset" and its rent (Note 1) Net sales of end tenants (20th FP) represents the comparison rate (with same months in the year before and in 2019) of the total amount of end-tenant sales from Aug. 2022 to Jan. 2023 at domestic commercial facilities owned by the Investment Corporation as of the end of Jan. 2023. (Note 2) Net sales of end tenants (21st FP) represents the comparison rate (with same months in the year before and in 2019) of the total amount of end-tenant sales from Feb. 2023 to Jul. 2023 at domestic commercial facilities owned by the Investment Corporation as of the end of Jan. 2023. Net sales of end tenants of Jun. 2023 and Jul. 2023 are calculated based on preliminary figures received through interviews with each master lessee. P.29 External growth ~Selective investments backed by Pipeline Support~ (Note 1) "Not acquired" refers to the properties which AEON REIT ended up not acquiring in the period, due to various reasons such as pricing, economic terms and conditions, timing of financing after consideration and discussion with the seller. (Note 2) Calculated based on the number of transactions related to assets acquired by the end of Jul. 2023. P.30 External growth ~Further growth backed by Pipeline Support~ (Note 1) Excerpts from the supplements to the financial results of AEON Co., Ltd. for the fiscal period ended Feb. 2023 (excluding AEON MALL Co., Ltd., AEON TOWN Co., Ltd., AEON GLOBAL SCM Co., Ltd., AEON Food Supply LTD and United Super Markets Holdings Inc.), corporate websites (AEON MALL Co., Ltd., AEON TOWN Co., Ltd., AEON Food Supply LTD and United Super Markets Holdings Inc.), and data provided by AEON GLOBAL SCM Co., Ltd. (for the fiscal period ended Jul. 2023). (Note 2) SC, GMS, SM, DS, HC and SuC stand for "Shopping Center", "General merchandise store", "Supermarket", "Discount store", "Home center", and "Supercenter", respectively. (Note 3) This does not imply that AEON REIT is currently considering the acquisition of these properties. (Note 4) Some of these stores are operating as tenants in the shopping centers managed by AEON MALL or AEON TOWN. (Note 5) "Total pipeline" refers to the total amount of properties owned by the AEON Group and third parties, for which the Investment Corporation has submitted letter of intention to purchase in the past, and whose expiration date has not yet passed. The amount of the properties are based on the Investment Corporation's desired purchase amount. P.31 Internal growth Enhancing values of properties~ (Note 1) "Revitalization investment" refers to construction work for improving the value of properties. (Note 2) Calculated based on the information of the assets held at the end of Jul. 2023 (21st FP). P.33 Financial strategy Financial management~ (Note) Includes refinancing (excluding bridge loans) and debt procurement related to acquisition of new properties. P.34 Financial strategy ~LTV & Cost trends~ (Note) "Loan capacity" is the approximate amount which can be borrowed if LTV (including security deposit) is raised to 50%. The said amount does not guarantee or promise that the Investment Corporation will actually be able to procure the said amount of funds. ÆON REIT Investment Corporation 44

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