Ares US Real Estate Opportunity Fund III slide image

Ares US Real Estate Opportunity Fund III

AREOF III Fundraising Update AREOF III continues to see strong support from institutional investors ■ Key Fundraising Updates Anticipated final closing in December 2020 with $2 billion hard cap Multiple closings held post COVID-19 as investors direct capital to opportunistic strategies Additional closings targeted for remainder of 2020 with final closing targeted for December* Strong support from incumbent investor base, and welcomed new investors Many investors increased commitment sizes from prior funds Investors expanded their relationship with Ares into real estate and we welcomed first-time Ares LPs We believe the diverse investor base speaks to Fund's broad appeal 欧 Key Attributes for Investors ▪ Positioned with substantial dry powder at start of new cycle ▪ Flexible mandate designed to navigate changing market conditions ▪ Diversified approach to pivot between sectors as opportunities arise ■ Cycle-tested team with significant experience managing transitional business plans ▪ Track record of managing capital structure complexity across two predecessor vehicles By type: Sovereign Wealth Funds, Public Pensions, Insurance Companies, Family Offices, Private Bank By geography: U.S., Middle East, Asia, Europe Some of Ares Real Estate Group's most attractive risk-adjusted returns have been generated in periods of volatility and uncertainty ▪ Benefit from real time information sharing across Ares strategies and platform Past performance is not indicative of future results. There is no guarantee or assurance investment objectives will be achieved. Forward looking statements are not reliable indicators of future events and no guarantee or assurance is given that such activities will occur as expected or at all. *Expected closing dates are based on management's assumptions and there is no guarantee or assurance that closings will occur by the expected date stated. Confidential - Not for Publication or Distribution ARES 48
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