X0508 4 2024-12-26 0001625941 ARES INDUSTRIAL REAL ESTATE INCOME TRUST Inc. NONE 0001966105 Fazekas David M C/O ARES MANAGEMENT LLC 1200 17TH STREET, SUITE 2900 DENVER CO 80202 1 1 0 0 Partner, Co-President 0 Class I-R Operating Partnership Units 2024-12-26 4 J 0 736377.812 D Class I-R Common Stock 736377.812 0 D Class I-R Operating Partnership Units 2024-12-26 4 J 0 736377.812 A Class I-R Common Stock 736377.812 736377.812 I By LLC Each Class I-R Operating Partnership Unit (formerly designated as Class I Operating Partnership Units) (the "Class I-R OP Units") in AIREIT Operating Partnership LP (the "OP"), a subsidiary of the Issuer, is redeemable by the holder for cash or, if the Issuer's board of directors determines that the redemption of the Class I-R OP Units for cash would be prohibited by applicable law, the Issuer's charter or the OP's limited partnership agreement (the "OP Agreement"), for shares of the Issuer's Class I-R common stock (formerly designated as Class I common stock), subject to any limitations on redemption in the OP Agreement. Any such redemption of Class I-R OP Units will be priced at the then-current net asset value of such Class I-R OP Units. There is no expiration date for the holder's ability to request redemption of the Class I-R OP Units. On December 26, 2024, the reporting person transferred and assigned all of the Class I-R OP Units directly held by the reporting person to a limited liability company in which the reporting person is a member. As a result of the transfer and assignment, the reporting person no longer directly owns any Class I-R OP Units. /s/ Andrew Ko, Attorney-in-Fact 2024-12-30