Ares US Real Estate Opportunity Fund III
Disclaimer (continued)
DUBAI INTERNATIONAL FINANCIAL CENTRE
By receiving this document, the person or entity to whom it has been issued understands, acknowledges and agrees that this document, the offering and the Interests relate to the Fund, which is a foreign investment
fund. The Fund is not subject to any form of regulation by the Dubai International Financial Centre (the "DIFC") or the Dubai Financial Services Authority (the "DFSA"). None of the Fund, this document, the offering or
the Interests have been approved, régistered, recognised or licensed by the DIFC or the DFSA.
Neither the DIFC nor the DFSA has any responsibility for reviewing or verifying this document or any other memorandum, document or information relating to the Fund. Accordingly, neither the DIFC nor the DFSA has
approved this document or any other related document or taken any steps to verify the information set out in this document and has no responsibility for it.
The Interests may be illiquid and subject to restrictions on their resale. Prospective purchasers of the Interests should conduct their own due diligence on the Interests. Prospective purchasers of the Interests should
not rely or act upon the information included herein and this document is not, and should not be construed as, a recommendation to buy, sell or hold a particular investment.
If you do not understand the contents of this document, you should consult an authorized financial advisor.
This document is intended only for prospective investors who: (a) are "Professional Clients" for the purposes of, and as defined in, the DFSA Rulebook and (b) can make a minimum subscription of at least US$50,000
as specified in the DIFC Collective Investment Law and the DIFC Collective Investment Rules, and must not therefore be delivered to, or relied on by (i) a potèntial investor who is a "Retail Client" for the purposes of,
and as defined in, the DFSA Rulebook, or (ii) a Professional Client not able to make such minimum subscription.
Ares Administrative Services (DIFC) Limited - Representative Office located at Office 44 Gate Building Level 15, Dubai International Financial Centre, P.O. Box 113355, Dubai UAE is communicating this document on
behalf of Ares Management LLC. Ares Administrative Services (DIFC) Limited - Representative Office is regulated by the Dubai Financial Services Authority as a Representative Office.
SAUDI ARABIA
This document may not be distributed in the Kingdom except to such persons as are permitted under the Offers of Securities Regulations issued by the Capital Market Authority. The Capital Market Authority does not
make any representation as to the accuracy or completeness of this document, and expressly disclaims any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this document.
Prospective purchasers of the securities offered hereby should conduct their own due diligence on the accuracy of the information relating to the securities. If you do not understand the contents of this document you
should consult an authorized financial adviser.
لا يجوز توزيع هذا المستند في المملكة إلا على الأشخاص المحددين في لائحة طرح الأوراق المالية الصادرة عن هيئة السوق المالية. ولا تعطي هيئة السوق المالية أي تأكيد يتعلق بدقة هذا المستند أو اكتماله، وتخلي نفسها صراحة من أي مسؤولية أو أي خسارة
تنتج عما ورد في هذا المستند أو الاعتماد على أي جزء منة. ويجب على الراغبين في شراء الأوراق المالية المطروحة بموجب هذا المستند تحري مدى صحة المعلومات المتعلقة بالأوراق المالية محل الطرح. وفي حال تعذر فهم محتويات هذا المستند، يجب استشارة
مستشار مالي مرخص
OMAN
This document does not constitute an offer of the Interests. This document and any other materials relating to the Fund are being sent at the request of the recipient in Oman and may not be distributed to any person in
Oman other than their intended recipient without the prior consent of the Omani Capital Markets Authority (the "CMA"). This document and the Interests may not be advertised, marketed, distributed or otherwise made
available to any person in Oman other than by an entity licensed to market non-Omani securities by the CMA, and then only in accordance with any terms and conditions of such license. No prospectus has been filed
with the CMA in connection with the offering of the Interests. The offer and sale of the Interests will not take place inside Oman. This document is strictly private and confidential and is being issued to a limited number
of financially solvent and experienced investors, and may not be reproduced, used for any other purpose or provided to any other person than the intended recipient thereof. Prospective investors acknowledge that
none of the Fund, the Interests or this document have been licensed by or registered with the CMA.
QATAR AND THE QATAR FINANCIAL CENTRE
This document is provided on an exclusive basis to the specifically intended recipient thereof, upon such recipient's request and initiative, and for such recipient's personal use only. Nothing in this document
constitutes, is intended to constitute, shall be treated as constituting or shall be deemed to constitute any offer or sale of securities in the State of Qatar or in the Qatar Financial Centre, or the inward marketing of an
investment fund or an attempt to do business, as a bank, an investment company or otherwise in the State of Qatar or in the Qatar Financial Centre. Neither this document nor the Interests have been approved,
registered or licensed by the Qatar Central Bank, the Qatar Financial Centre Regulatory Authority, the Qatar Financial Markets Authority or any other regulator in the State of Qatar or the Qatar Financial Centre. Neither
this document nor any related documents have been reviewed or approved by the Qatár Financial Centre Regulatory Authority or the Qatar Central Bank. Recourse against the Fund, and those involved with it, may be
limited or difficult and may have to be pursued in a jurisdiction outside Qatar and the Qatar Financial Centre. Any distribution of this document by the recipient to third parties in Qatar or the Qatar Financial Centre in
breach of the terms hereof is not authorized and shall be at the liability of such recipient.
UNITED ARAB EMIRATES
This document does not constitute an offer of the Interests. By receiving this document, the person or entity to whom it has been issued understands, acknowledges and agrees that this document and the Interests
relate to the Fund, which is a foreign investment fund. The Fund is not subject to any form of regulation by the Central Bank of the United Arab Emirates (the "UAE"), the UAE Securities and Commodities Authority (the
"SCA") or any other authority in the UAE (collectively, the "UAE Regulatory Authorities"). The Fund is not registered or licensed by any of the UAE Regulatory Authorities, and no approval has been received from any
of the UAE Régulatory Authorities to market, offer or sell the Interests in the UAE.
None of the UAE Regulatory Authorities has any responsibility in respect of this document and, accordingly, none of the UAE Regulatory Authorities has approved this document, taken any steps to verify the
information set out herein or has any responsibility for it. In particular, this document has not been approved pursuant to Board Decision No. (37) of 2012 Concerning the Regulations as to Mutual Funds issued by the
SCA.
The offering of the Interests will not constitute a public offer of securities under applicable laws of the UAE and the Interests will not be admitted to trading on any stock exchange in the UAE. The Interests may not be
offered or sold directly or indirectly to the public in the UAE.
No sale or subscription for any financial products or services will be consummated within the UAE pursuant to this document, other than a sale or subscription to:
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investment funds owned by federal or local government entities in the UAE;
entities whose principal object, or among whose objects, is investment in financial instruments, provided that such sale or subscription is for the account of such entities, and not for the account of third parties for
whom such entities act; and
investment managers with the authority to make and execute investment decisions on behalf of their clients.
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The entity which will conduct the private placement of the Interests is not licensed as a financial consultant, investment company, fund manager, broker, dealer or advisor under applicable laws of the UAE, and it does
not advise individuals resident in the UAE as to the appropriateness of investing in, purchasing or selling any financial product.
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Nothing contained in this document is intended to constitute UAE investment, legal, tax, accounting or other professional advice. This document is for the information of prospective investors only and nothing in this
document is intended to endorse or recommend a particular course of action. Prospective investors should seek appropriate professional advice. The offering of the Interests and the Fund, and the issue of this
document, in the UAE are subject to any changes in the laws of the UAE.
Ø ARES
Confidential - Not for Publication or Distribution
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