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Investor Presentaiton

Total Loans Held for Investment Portfolio Key Statistics (50 Loans) Loan Portfolio Characteristics (4) Mid-Atlantic/Northeast ($ in millions) Total loan commitments Outstanding principal balance $2,058.8 $1,806.2 Southwest Weighted average unpaid principal balance of loan portfolio(¹) Percentage of floating rate loans based on outstanding principal balance Percentage of senior loans based on outstanding principal balance Weighted average remaining life of loan portfolio $1,889.9 12% 98% 95% 1.5 years Percentage of loan portfolio with LIBOR floor or fixed rate Weighted average LIBOR floor for floating rate loans with 96% Midwest 18% LIBOR floors 1.77% 10% Southeast 40% Unleveraged Effective Yield (2) West Loan Portfolio Self Storage 1% Residential/Condominium 20% 8% 7.2% 2% 6.9% 6.8% 6.6% 6.7% (3) Multifamily 25% Industrial 9% 6% 4% 2% Student Housing 10% 0% Q2-19 Senior loans 6.9% Q3-19 6.5% Q4-19 6.5% Q1-20 6.2% Q2-20 6.3% Sub. debt and Mixed-use 12% Office 28% pref. equity investments 14.7% 15.0% 15.1% 13.5% 13.6% Hotel 13% Note: As of June 30, 2020, unless otherwise noted. Past performance is not indicative of future results. Diversification does not ensure profit or protect against market loss. 1. During the quarter ended June 30, 2020. 2. Unleveraged Effective Yield is the compounded effective rate of return that would be earned over the life of the investment based on the contractual interest rate (adjusted for any deferred loan fees, costs, premiums or discounts) and assumes no dispositions, early prepayments or defaults. The total Weighted Average Unleveraged Effective Yield is calculated based on the average of Unleveraged Effective Yield of all loans held for investment by the Company as weighted by the outstanding principal balance of each loan. 3. Excludes impact of loans on non-accrual status as of June 30, 2020. Including non-accrual loans, total weighted average Unleveraged Effective Yield for total loans held for investment and senior loans would be 6.4% and 6.0%, respectively. 10 4. Based on outstanding principal balance. ARES COMMERCIAL REAL ESTATE CORPORATION
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