AEON CO. (M) BHD — Earnings Release 2026

May 17, 2026

AEON

MEDIA RELEASE

For Immediate Release

AEON DELIVERS SOLID START TO FY2026 WITH 22.9% GROWTH IN PROFIT AFTER TAX

Driven by efficiency and property management services segment growth

Kuala Lumpur, 18 May 2026 - AEON CO. (M) BHD. ("AEON" or "the Company") kicked off 2026 with a solid performance, recording a Profit After Tax (PAT) of RM83.7 million for the first quarter ended 31 March 2026 (Q1 FY2026). This representing a 22.9% increase from RM68.1 million in the corresponding quarter. The improvement was driven by more favourable product mix, as well as higher variable income from the property management services segment, which benefited from increased festive shopping activity, supported by effective cost management and improved operational discipline.

The retail business recorded revenue of RM1.03 billion, a marginal decrease of 1.0% year-on-year. This was mainly due to more measured consumer spending and continued moderation in discretionary purchases. Demand for essential goods, however, remained stable.

Meanwhile, property management services posted revenue of RM212.5 million, an increase of 4.0%. This was driven by effective rental renewals and sustained occupancy rate. Continued contribution from tenant mix optimisation initiatives also supported the growth.

During the quarter, the Company advanced its growth and sustainability priorities. The Company strengthened its East Coast presence with the opening of its first store in Kuantan, Pahang in January. In February, AEON signed an agreement with Pacific Trustees Bhd, trustee of KIP REIT, for the expansion of AEON Mall Kinta City in Perak with completion targeted for the fourth quarter of 2027.

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Development is also underway for a new two-storey mall as part of the expansion of AEON Mall Seremban 2. In addition, AEON will continue its asset enhancement initiatives, with AEON Permas Jaya and AEON Taman Universiti earmarked for renovation this year. These enhancements are aimed at ensuring our design, facilities and amenities continue to meet the evolving expectations and lifestyle needs of today's modern consumers.

AEON Mall KL Midtown is progressing towards its highly anticipated opening along Jalan Dutamas, with its opening targeted by end of 2026. Designed to serve urban shoppers and working professionals, the mall will feature a balanced mix of retail, dining and lifestyle-driven leisure offerings. As AEON's first eight-storey mall with a new concept, AEON Mall KL Midtown also marks the Company's first venture into a mixed-development project, integrating retail, residential, hospitality and office components within a single, cohesive development.

On sustainability front, AEON accelerated its sustainability efforts by introducing smart recycling kiosks across selected AEON malls to promote operational efficiency and responsible waste management.

Commenting on the performance, Tsugutoshi Seko, Managing Director of AEON said, "The Company has delivered a steady start to the financial year. Looking ahead, we remain focused on strengthening our operational fundamentals and advancing key growth drivers. This includes improving efficiency, expanding our Private Brands offerings and enhancing customer engagement through our loyalty programme."

"At the same time, we continue to advance our sustainability initiatives to support long-term value creation. While ongoing global uncertainties may continue to influence consumer sentiment and spending patterns, we expect underlying demand to remain resilient, supported by steady spending on essential goods, sustained in-mall activity and supportive government stimulus initiatives. We remain focused on executing our strategic priorities, navigating evolving challenges and delivering sustainable long-term value to our shareholders."

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About AEON CO. (M) BHD.

AEON CO. (M) BHD. (AEON) is a leading General Merchandise Store (GMS) and supermarket chain in Malaysia, offering a wide range of retail formats and customer-centric services. The Company was incorporated in 1984 following the Malaysian Government's invitation to support the modernisation of the country's retail industry.

Today, AEON operates more than 180 outlets across Malaysia, including AEON Malls, AEON Stores, AEON STYLE Supermarket, AEON Wellness, AEON MaxValu, DAISO, Rocky Basecamp and Petemo. Through this diverse retail ecosystem, AEON serves a broad spectrum of customer needs spanning daily essentials, health and wellness, lifestyle, specialty retail and value-focused offerings.

Guided by its "Customer First" philosophy, AEON leverages strong market insights, disciplined merchandising and continuous innovation to deliver quality, value and convenience across both physical and digital platforms.

In the spirit of the name AEON, which means eternity in Latin, AEON is committed to continuously working together with customers, suppliers, business partners, shareholders and the wider community to create a future of sustainable growth and meaningful possibilities.

For more information, please visit:

• Website: www.aeongroupmalaysia.com / www.aeonmallmy.com
• LinkedIn: AEON Group Malaysia
• Facebook: AEON Retail Malaysia / AEON MALL
• Instagram: aeonretail.my / aeonmallmalaysia
• Tik Tok: aeonretailmalaysia / aeonmall.malaysia
• X: AEON Retail Malaysia

For media enquiries, please contact:

Noor Aznimm Zahariman
Corporate Communications
AEON CO. (M) BHD.
T: 019 229 5769
E: noor.aznimm@aeonretail.com.my

Fairas Imran Jaapar
Corporate Communications
AEON CO. (M) BHD.
T: 012 371 6387
E: fairas.imran@aeonretail.com.my