March NAV per share $8.1467, up 0.33% from Feb; aggregate NAV $3.39B

Ares Real Estate Income Trust Inc.

Aggregate Fund NAV increased to $3.391B from $3.187B as of Feb 28, 2026; total Fund Interests outstanding 416,255.
Monthly distribution of $0.03450 per share for March 2026 paid to all stockholders of record March 31.
Portfolio 94.8% leased; rent growth on commercial leases +21.0% cash, industrial +30.5% cash; residential rent decline -1.7%.
Raised $401.2M in gross proceeds in Q1 2026; redemptions of $40.2M for Jan-Mar fully satisfied.
Issued 22.6M OP Units in exchange for DST Interests (net $183.2M) during March 2026.

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