Ares US Real Estate Opportunity Fund III

Deep & Experienced U.S. Equity Real Estate Team Team of 28 U.S. real estate equity professionals with extensive investment and asset management capabilities Benefit from 29 additional Ares U.S. real estate debt professionals, further enhancing research capabilities and sourcing relationships In addition to investment professionals, Ares has approximately 30 accounting, legal and compliance professionals supporting its U.S. real estate operations Ares Real Estate Group Global Investment Committee David Roth* Jay Glaubach Andrew Holm Partner, Head of US Real Estate Equity Partner, Portfolio Manager - Partner, Portfolio Manager - Opportunistic Los Angeles New York 35 years 19 years ■ Bill Benjamin* Partner & Head of Real Estate London 34 years U.S. Investment and Asset Management Team New York Cal NeSmith Principal 10 years Forest Sonnenfeldt Vice President 6 years Adrienne Collins Analyst 2 years Daniel Taylor Managing Director Wilson Lamont* Partner, Co-Head of Europe London 20 years Daniel Carr Vice President 9 years Evan Baum Senior Associate 5 years Managing Director Opportunistic New York 15 years John Ruane* Partner, Co-Head of Europe London 20 years Ankit Sundaram Vice President 7 years Cassidy Seidl Associate 3 years Atlanta Steven Wolf Senior Advisor 34 years Pat Ragin Principal 37 years Adam Hayden Associate 4 years Investor Relations Dhaval Parikh Melanie Schiff Dags Chen Principal Vice President Research Kevin Cahill Partner London 16 years As of September 2020. *Serves on Ares Management's Global Management Committee. Confidential - Not for Publication or Distribution Michael Dreilinger Principal 32 years Kurt Baker Vice President 17 years Michael Thomas Associate 2 years Keith Kooper Partner Bryan Donohoe Partner & Head of Real Estate Debt New York 20 years Legal David Sachs Partner Los Angeles 37 years 12 Hewitt Engram Principal 12 years Michael Bartlett Vice President 9 years Brandt O'Kelley Analyst 1 year Jessica Mattoon Principal Howard Huang Partner Atlanta 35 years Julie Solomon* Partner, Investor Relations New York 20 years Joseph Hill Principal 25 years Compliance Corey Casbarro Vice President Karen Hair Associate 13 years Pedro Biezonsky Managing Director JB Gerber Partner, Head of RE Debt Originations New York 19 years Los Angeles Sam Averbach Principal 11 years Cole Kirby Associate 4 years Tae-Sik Yoon* Partner, Chief Financial Officer New York 26 years Jonathan San Antonio Vice President 12 years Finance Ryan Schierberl Vice President 13 years Grace Omoto Principal Gabriel Gonzales Senior Associate 5 years Dylan Brown Analyst 2 years Tax Carl Lemke Managing Director ARES

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