Certain Units of AEON REIT Investment Corporation are subject to a Lock-Up Agreement Ending on 16-AUG-2023. These Units will be under lockup for 180 days starting from 17-FEB-2023 to 16-AUG-2023.

Details:
In connection with the Primary Offering, we plan to request AEON CO., LTD. to promise to the joint
lead managers that it shall not, without the prior written consent of the joint lead managers effectuate any
sale, etc., of the Investment Units it holds during the period from the Issue Price Determination Date to
the 180th day from the delivery date for the Primary Offering (excluding lending Investment Units for the
purpose of the Secondary Offering, etc.).
The joint lead managers are expected to have the right to cancel all or part of the relevant agreed
restrictions at their discretion even during the period noted above.
(2) In connection with the Primary Offering, the Investment Corporation agreed with the joint lead
managers not to issue Investment Units without the prior written consent of the joint lead managers
during the period from Issue Price Determination Date to the 90th day from the delivery date for the
Primary Offering (excluding issuance of new Investment Units associated with the Primary Offering, the
Third-Party Allotment and split of Investment Units, etc.).
The joint lead managers have the right to cancel all or part of the relevant agreed restrictions at their
own discretion, even during the period noted above.