AEON REIT Investment : Notice Concerning Additional Conclusion of Pipeline Support Agreement and Logistics Facilities Management Agreement with AEON Food Supply Co., Ltd.

(Note) This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

July 29, 2022

For Immediate Release

Investment Corporation:

AEON REIT Investment Corporation

1-2-1, Kanda Nishiki-cho,Chiyoda-ku, Tokyo

Representative: Nobuaki Seki, Executive Director

(Securities code: 3292)

Asset Manager:

AEON Reit Management Co., Ltd.

Representative:	Nobuaki Seki, Representative Director and President
Inquiries:	Tomohiro Itosaka, Managing Director in charge of
	Finance and Administration
	(TEL: [phone])

Notice Concerning Additional Conclusion of Pipeline Support Agreement and Logistics Facilities Management Agreement with AEON Food Supply Co., Ltd.

AEON REIT Investment Corporation ("we" or the "Investment Corporation") and AEON Reit Management Co., Ltd. (the "Asset Manager") to which the Investment Corporation entrusts the management of its assets, hereby announce that the Investment Corporation and the Asset Manager have resolved to conclude the Pipeline Support Agreement and the Logistics Facilities Management Agreement (hereinafter collectively, the "Support Agreements") with AEON Food Supply Co., Ltd. Details are given as follows:

1. Background and Reason of the Conclusion of the Support Agreements：

The Investment Corporation considers acquiring properties from operated by AEON Group companies to be a strategic pillar for external growth and has taken strategies to expand its asset size by obtaining information on properties from AEON Group companies and preferential negotiation rights regarding the retail and related properties operated by AEON Group.

AEON Food Supply Co., Ltd. is a process center of the AEON Group that manufactures and processes fresh seafood, livestock, and agricultural products, as well as fresh delicatessen products, and supplies them to AEON Group stores.

The aim to conclude the Support Agreements is based on the strategy to expand companies which provide support in order to enhance external growth of the Investment Corporation by utilizing AEON Group's integrated capabilities.

2. Name of the Support Agreements:

"Pipeline Support Agreement" and "Logistics Facilities Management Agreement"

3. Parties to the Support Agreements:

AEON Food Supply Co., Ltd. the Asset Manager and the Investment Corporation

4. Planned Date of the Conclusion of the Support Agreements: August 4, 2022

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5. Future Prospects:

As of now detailed transaction by utilizing the Support Agreements is yet to be determined. Since there is no impact incurred to net asset, profit and loss of the Investment Corporation, we have not made any revisions to the forecasts of performance announced in the Distributions for the 18th Fiscal Period Ending March 17, 2022".

1. Major terms of the Support Agreements:
2. 1. 1. Provision of information on properties owned
      2. Grant of preferential negotiation rights on the retail and related facilities operated by the Pipeline Support Companies (the "Support Companies")
      3. Provision of information on potential sales of properties owned by third parties
      4. Consideration of becoming a tenant of or providing leasing support for properties owned by the Investment Corporation
      5. Provision of warehousing services (temporary possession of properties to be acquired)
      6. Advice on investment strategy and property acquisition by the Support Companies
      7. Co-ownership(kyōyū) or quasi co-ownership (jun kyōyū) of properties with the Investment Corporation, and
      8. Cooperation to ensure sufficient human resources
   2. The_Logistics Facilities Management Agreement:
   3. 1. Research on individual properties
      2. Advice and assistance services on the management of individual properties, and
      3. Consideration of activation and redevelopment of other individual properties in the medium to the long term
3. Summary Information of the Agreement Party (as of February 28, 2022):

Name of the party	AEON Food Supply Co., Ltd.
Location	24-6Takase-cho, Funabashi City, Chiba
Name and title of representative	Mr. Shigenori Toda, Representative Director and
President
	Manufacturing and processing of livestock, marine
Type of business	products, and delicatessen products, as well as
distribution of agricultural, processed, and daily
	products
Date of establishment	October 29, 1981
Capital stock	100,000,000 yen
REIT share owned by companies (%)	―
Relationship with the Investment	Subsidiary of other affiliates
Corporation

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8. Sponsor Support Structure to Utilize AEON Group's Integrated Capabilities:

The Investment Corporation and the Asset Manager have established support structure integrating AEON Group's capabilities to the Investment Corporation by concluding various support agreements with AEON Group companies. Through these agreements, we believe that we will be able to fully utilize the know-how and integrated capabilities in the development and operation of the retail and related properties that AEON Group has cultivated, and we will be aiming to expand our portfolio over the medium to long term.

AEONREITInvestmentCorporation/AEONReitManagementCo.,Ltd

Trademark license agreement

Shopping center management

Logistics facilities management

agreements

agreement

Memorandum ofunderstandingon

investments in propertiesin Malaysia

Sponsor support agreement

Pipeline support agreements

AEONMALLCo.,Ltd.

AEONRetailCo.,Ltd.

AEONHokkaidoCorporation

AEON CO. (M) BHD.

AEONKYUSHUCo.,Ltd.

AEONCo.,Ltd.

AEONGLOBALSCMCO.,LTD

AEONRYUKYUCO.,LTD.

AEONFoodSupplyCo,Ltd

AEONBigMalaysia

AEONTOWNCo.,Ltd.

（AEON BIG (M) SDN.BHD.）

The Daiei, Inc

AEONTOHOKUCo.,Ltd.

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Pipeline support companies

•

Pipeline support company

Supporting companies foroverseas

Sponsor

•

Shopping center management

•

Logistics facilities management

investments

providers

support company

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*The Investment Corporation's website:https://www.aeon-jreit.co.jp/en/index.html

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