Investor Presentaiton

Overview of overseas properties Acquired properties from AEON Malaysia, which has been operating locally for about 40. years. Rents are CPI-linked and reflecting Malaysia's growth potential. About the properties India Johor Bahru GDP growth rate of Japan and Malaysia (Note 2) AEON MALL SEREMBAN 2 Malaysia Japan Completion year China Japan 2005 8.0% Location Negeri Sembilan Province 6.0% 4.8% 4.0% 2.0% AEON Taman Universiti Shopping Centre 1.5% 4.1% 0.0% 1.4% 2.0% 1.6% 7.5% 6.0% 5.5% 5.8% 5.3% 5.0% 4.7% 4.4% 4.5% 4.8% 3.1% 2.1% 1.1% 08.7% 1.7% Kuala Lumpur Completion year 0.0% CON 0.3% 0.8% 0.6% -2.0% Singapore 2002 -0.4% -4.3% -1.2% Location -4.0% Johor -6.0% -5.5% -5.7% -8.0% Details of the master lease agreement Fixed rent agreement (10-year lease term) CPI-linked rent revision (every 3 years) 7.4% increase in rent (2017) Taman U. SC 4.6% increase in rent (2020) 5.6% increase in rent (2023) SEREMBAN 2 -> 5.4% increase in rent (2019) 5.3% increase in rent (2022) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Changes in CPI in Malaysia and Japan (Note 3) (%) 170 Х Net lease 160 150 140 130 120 110 100 90 About AEON Malaysia (AEON Co. (M) BHD) Founded in 1984 and has been operating in Malaysia for about 40 years. ▸ Have been listed on the Kuala Lumpur Stock Exchange since 1996. Operates 28 malls, generating operating income 4,141 million RM. (¥114.2 bn at 27.59 yen to 1 RM) (Note 1) ÆON REIT Investment Corporation 2000 2001 2002 2003 2004 2005 2006 2007 2008 CPI (Malaysia) CPI (Japan) 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 54

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