ARES US REAL ESTATE FUND X, L.P.

PFID 805-3457123699 Managed by ARES MANAGEMENT LLC

Hedge Fund 3(c)(7) Master Fund

Gross Asset Value

$640.5M

Min. Investment

$10,000,000

Investors

430

First Sale

FY End

Service Providers

Auditor

ERNST & YOUNG

LOS ANGELES, California, United States

PCAOB: Registered

Independent: Yes

Custodian

U.S. BANK

MINNEAPOLIS, Minnesota, United States

Administrator

SEI INVESTMENTS COMPANY

OAKS, Pennsylvania, United States

Marketer

ARES MANAGEMENT CAPITAL MARKETS LLC