X0306 4 2012-08-15 0 0001529377 Ares Commercial Real Estate Corp ACRE 0001304471 Arougheti Michael J 2000 AVENUE OF THE STARS, 12TH FLOOR LOS ANGELES CA 90067 1 0 0 0 Common Stock 2012-08-15 4 P 0 46800 16.4410 A 46800 D The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $16.40 to $16.50, inclusive. The Reporting Person undertakes to provide to Ares Commercial Real Estate Corporation, any security holder of Ares Commercial Real Estate Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote (1) to this Form. The reported number of securities does not include securities of Ares Commercial Real Estate Corporation owned by Ares Investments Holdings LLC or its affiliates as to which the Reporting Person may have certain pecuniary interests. The filing of this statement shall not be deemed an admission that the Reporting Person, for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended, is a beneficial owner of, and the Reporting Person expressly disclaims beneficial ownership of, any equity security owned by Ares Investments Holdings LLC or its affiliates. /s/ Monica J. Shilling, by power of attorney 2012-08-17