OUR VISION

AND MISSION

Incorporated in Malaysia on 15 September 1984 following the Malaysian government’s invitation to modernise the nation’s retail sector, AEON CO. (M) BHD. has grown into a key retail and property management services player in the industry. As a member of the AEON group of companies in Malaysia, AEON CO. (M) BHD. is 52.0% owned by AEON CO., LTD., an integrated holding company based in Japan — a global entity employing approximately 570,000 individuals across 14 countries.

VISION

To create smiles and connect hearts

MISSION

To excite customers’ experience that brings joy and happiness

Values

OUR PRESENCE

OUTLETS ACROSS MALAYSIA
(as at 31 December 2024)

A Kedah

B Penang

C Perak

D Selangor

6 AEON Mall
9 AEON Store
2 AEON MaxValu
12 AEON Wellness
12 DAISO
1 Rocky Basecamp
1 Petemo

E Kuala Lumpur

F Putrajaya

G Negeri Sembilan

H Melaka

I Johor

6 AEON Mall
6 AEON Store
1 AEON MaxValu
10 AEON Wellness
4 DAISO
1 Rocky Basecamp
1 Petemo

J Kelantan

K Terengganu

L Pahang

M Sarawak

A Kedah

B Penang

C Perak

D Selangor

6 AEON Mall
9 AEON Store
2 AEON MaxValu
12 AEON Wellness
12 DAISO
1 Rocky Basecamp
1 Petemo

E Kuala Lumpur

F Putrajaya

G Negeri Sembilan

H Melaka

I Johor

6 AEON Mall
6 AEON Store
1 AEON MaxValu
10 AEON Wellness
4 DAISO
1 Rocky Basecamp
1 Petemo

J Kelantan

K Terengganu

L Pahang

M Sarawak

LETTER FROM

THE CHAIRMAN

LETTER FROM

THE CHAIRMAN

Dear Valued Shareholders,

On behalf of the Board, I am pleased to present AEON CO. (M) BHD.’s Integrated Annual Report 2024. This year marks our 40^th anniversary in Malaysia — a milestone reflecting our progress and strong foundations established in the retail and property management services landscape. This milestone is driven by the dedication of our AEON People, whose passion fuels our growth.

In FY2024, we remained focused in executing our strategic priorities — enhancing customer engagement, seizing new opportunities, and strengthening our core businesses. Through these efforts, we continued serving Malaysians across all segments while delivering positive returns to our shareholders.

DATUK ISKANDAR SARUDIN

Independent Non-Executive Chairman

REVENUE

RM 0 m

FY2023: RM4,129.0m

NET PROFIT

RM 0 .0m

FY2023: RM114.8m

PROPOSED DIVIDEND PER SHARE

0 sen

FY2023: 4.0 sen

PROPOSED DIVIDEND PAYOUT RATIO

0 %

FY2023: 49%

FROM THE DESK OF

THE MANAGING

DIRECTOR

Dear Valued Shareholders,

As we celebrate AEON’s 40 incredible years in Malaysia, I am proud to reflect on our journey of growth, resilience, and innovation, culminating in a strong FY2024 financial performance. This achievement underscores our commitment to driving innovation, delivering exceptional customer experiences, and ensuring sustainable growth. With a clear strategy, we are confident in strengthening our core and future-proofing AEON for the years ahead.

MR. NAOYA OKADA

Managing Director

RETAIL

Revenue

RM 0 m

FY2023: RM3,454.3m

PROPERTY MANAGEMENT SERVICE

Revenue

RM 0 .0m

FY2023: RM674.7m

FROM THE DESK OF

THE MANAGING

DIRECTOR

YEAR

FINANCIAL

HIGHLIGHTS

REVENUE (RM'000)

PROFIT BEFORE TAX (RM'000)

PROFIT AFTER TAX (RM'000)

EARNINGS PER SHARE (SEN)

NET ASSETS (RM'000)

BORROWINGS (RM'000)

VALUE CREATION MODEL

AEON’s value creation model centers around its commitment to sustainable growth and societal contribution while aligning with the AEON Foundational Ideals of pursuing peace, respecting humanity, and contributing to local community, always with customers as our starting point. Harnessing our six capitals as inputs to fuel our economic value creation, we leverage the AEON Living Zone ecosystem to execute our strategic priorities, generating sustainable value for distribution to stakeholders and society.

INPUT

Financial Capital

Our robust financial performance and sound balance sheet provide the foundation for delivering consistent shareholder value through dividends and reinvestment for sustainable growth. With strong access to financial markets and institutional lenders, we ensure the necessary resources to support our strategic initiatives and long-term business objectives.

Manufactured Capital

Our expansive asset portfolio, including owned and leased malls, supermarkets, general merchandise stores, specialty outlets and food processing centers across Malaysia, forms the backbone of our operations. This extensive network enables us to effectively reach, market, and distribute our products to customers nationwide, ensuring accessibility and convenience.

Intellectual Capital

Our trusted brand, established over four decades, is a cornerstone of our success. This includes our well-recognised home-grown Private Brands, innovative membership programmes, and longstanding partnerships with tenants and businesses, which collectively enhance customer loyalty and strengthen market leadership.

Natural Capital

Committed to sustainability, we responsibly utilise natural resources and proactively manage our environmental footprint. Through ongoing efforts to reduce waste, conserve energy, and adopt eco-friendly practices, we aim to minimise environmental impact while contributing to a sustainable future.

Human Capital

Our people are at the heart of our success. We foster a culture of learning, development, and inclusivity by actively recruiting, nurturing, and retaining talent. By empowering AEON People to achieve their full potential and champion diversity, we build a motivated and innovative workforce that drives our business forward.

Social & Relationship Capital

Strong relationships with our stakeholders are integral to maintaining our social licence to operate. By understanding and addressing their needs, we build trust and collaboration. Our ongoing ESG initiatives reflect our commitment to creating long-term positive impacts on the communities we serve, reinforcing our role as a responsible corporate citizen.

VALUE CREATION

AEON Living Zone Ecosystem

Internal AEON Living Zone

External potential partners for AEON Living Zone

Key enablers (e.g. Business processes, data and technology, resource skillsets)

Strategic Priorities

Retail

Grow Customer Base

GCB1

Strengthen Customer Loyalty

GCB2

Broaden Private Brands

GCB3

New Store Opening and Store Facelifts

Property Management Service

Increase Footfall and Traffic

IFT1

Mall Rejuvenation and Facelifts

IFT2

Diversify Tenant Mix

IFT3

Effective Tenant Management

Sustainability

Champion Sustainable Practices

OUTPUT

Sustainable Economics

Environmentally Focused

Empowering People

Efficiency & Integrity

AEON

SUSTAINABILITY

CHARTER

In 2022, we established the AEON Sustainability Charter (ASC), a foundational framework designed to translate these principles into actionable goals that drive sustainable practices across our operations.

Sustainable Economics

to continuously provide value to customers

AEON consistently delivers high quality products and services to customers. To meet our customers’ needs and rapidly changing preferences, we seek opportunities to adapt and innovate the business to stay agile, responsible and resilient. We aim to cater to a broad range of customer personas and drive organic growth.

Environmentally Focused

to protect our planet and community

AEON is committed to mitigating and managing our environmental footprint and minimise negative impacts to climate change. We strive to reduce our GHG emissions through steps such as adoption of renewable energy and improvements in energy efficiency. We are committed to enhance efficient water usage, adopt circular economy practices and address climate-related risks across our operations.

Empowering People

to better serve our employees, customers, and community

AEON is committed to fostering a diverse, equitable and inclusive workplace as well as uplifting the livelihoods of local communities. We strive to create positive social impact to enhance the quality of life and livelihoods of both our employees and the local communities.

Efficiency & Integrity

to reinforce trust with our internal and external stakeholders

AEON strives for operational efficiency and market leadership that is underpinned by a strong governance framework to ensure robust workplace ethics and organisational integrity. Our approach includes equipping our business partners and stakeholders with the knowledge to uphold these standards.

NOTICE OF

ANNUAL

GENERAL

MEETING

Date & Time

22 May 2025 (Thursday), 2.00 p.m.

Meeting Venue

Grand Ballroom, Level 2,

InterContinental Kuala Lumpur,

165, Jalan Ampang,

50450 Kuala Lumpur, Malaysia

Online Meeting Platform

Boardroom Smart Investor Portal (“BSIP”) at

Expired!

Integrated Annual Report 2024

OUR VISION

AND MISSION

VISION

MISSION

Values

OUR PRESENCE

LETTER FROM

THE CHAIRMAN

LETTER FROM

THE CHAIRMAN

FROM THE DESK OF

THE MANAGING

DIRECTOR

FROM THE DESK OF

THE MANAGING

DIRECTOR

YEAR

FINANCIAL

HIGHLIGHTS

VALUE CREATION MODEL

INPUT

VALUE CREATION

AEON Living Zone Ecosystem

Strategic Priorities

OUTPUT

AEON

SUSTAINABILITY

CHARTER

NOTICE OF

ANNUAL

GENERAL

MEETING

DOWNLOADS

Growing our customer reach and business performance to generate positive value for stakeholders

Operating responsibly and contributing towards a greener planet

Supporting the local community and economy

Abiding by the principles of stewardship and managing the business and affairs of AEON to deliver long-term sustainable growth