X0407 4 2023-04-01 0001625941 ARES INDUSTRIAL REAL ESTATE INCOME TRUST Inc. NONE 0001727957 Benjamin William Stephen 1200 SEVENTEENTH STREET SUITE 2900 DENVER CO 80202 1 0 0 0 0 Class I Common Stock 2023-04-01 4 P 0 33257.727 15.0341 A 33257.727 I By Trust Shares are beneficially owned by William S Benjamin 2017 Trust No. 2, over which the Reporting Person has voting or investment power. /s/ Andrew Ko, Attorney-in-Fact 2023-04-03