1. Target returns are not a reliable indicator of future performance and no guarantee or assurance is given that such that performance objectives will be achieved. Actual results may differ materially from the Target returns presented herein.  Any investment involves significant risk, including the loss of principal.  The target returns are provided solely to evaluate the return potential and risk profile of an investment in the Fund.  Target net returns are not based on modeled expectations or specific criteria and assumptions, but rather what we believe we may achieve given current market conditions, which may differ from actual events or conditions.  Actual gross returns will be reduced by any applicable management fees, performance fees/carried interest and other expenses.  Target net returns assume the deduction of any relevant management fees, performance fees and other expenses or transaction costs/expenses.
2. While ACI seeks to make every effort to create the most tax-efficient structure during the investment decision-making and management process, any such tax-related strategies are geared toward the benefit of the relevant vehicle and not necessarily each individual investor’s tax-related circumstances or needs. Certain investments may result in a portion of the Fund’s income being taxable. Ares Wealth Management Solutions, LLC, and its affiliates do not provide tax advice. Investors should consult a tax professional regarding their situation.
3. p.a. = Per Annum.
4. Data as of June 30, 2025.
5. Shares will be offered monthly on the first day of the applicable month. All capital is funded upfront (no capital calls). Subscription requests must be received at least five business days before the first day of each month (unless waived by the intermediary manager) and NAV will be available generally within 20 business days after the effective date of the purchase.
6. ACI will only offer limited liquidity in the form of a quarterly share repurchase program in which it intends to offer repurchase, in each quarter, up to 5% of its shares outstanding as of the close of the previous calendar quarter. The Fund’s board of trustees may amend, suspend or terminate these share repurchases in its discretion if it deems such action to be in the best interest of shareholders.
7. Burgiss All Infrastructure Index exhibited a standard deviation of .07 from June 2004 to June 2024.
8. The performance, awards/ratings noted herein relate only to selected funds/strategies and may not be representative of any given client’s experience and should not be viewed as indicative of Ares’ past performance or its funds’ future performance. Ares did submit for these awards but did not pay a fee to participate in the selection process. The selection of AIO to receive these awards was based in part on subjective criteria and a potentially limited universe of competitors.

All investments involve risk, including loss of principal. An investment in the Access Fund entails a significant degree of risk and, therefore, should be undertaken only by investors capable of evaluating the risks of the Access Fund and bearing the risks it represents. Please make reference to the detailed risk factors and all other information contained in the Access Fund’s Product Disclosure Statement (the PDS).

Important Information
The Ares Core Infrastructure Fund (AUT) (“ACI-AUT”, or the “Access Fund”) invests substantially all of its assets in Ares Core Infrastructure Fund (“ACI”, or the “Underlying Fund”).
Ares Australia Management Pty Limited ABN 51 636 490 732 AFSL 537666 (“AAM”) is the investment manager of Access Fund. AAM is a subsidiary of Ares Management Corp (“Ares Management,” together with any of its affiliated entities “Ares”). Equity Trustees Limited (“Equity Trustees”) (ABN 46 004 031 298), AFSL 240975, is the Responsible Entity for the Access Fund. Equity Trustees is a subsidiary of EQT Holdings Limited (ABN 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX: EQT).
This website has been prepared to provide you with general information only. In preparing this website, we did not take into account the investment objectives, financial situation or particular needs of any particular person. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information. Neither AAM, Equity Trustees nor any of its related parties, their employees or directors, provide any warranty of accuracy or reliability in relation to such information or accepts any liability to any person who relies on it. Past performance should not be taken as an indicator of future performance. You should obtain a copy of the Product Disclosure Statement before making a decision about whether to invest in this product.
ACI-AUT’s Target Market Determination is available here. A Target Market Determination is a document which is required to be made available from 5 October 2021. It describes who this financial product is likely to be appropriate for (i.e. the target market), and any conditions around how the product can be distributed to investors. It also describes the events or circumstances where the Target Market Determination for this financial product may need to be reviewed.
Unless otherwise specified, references to dollar ($) amounts in this communication are denoted in United States dollars (US$).

Contents of the communication
This is not an offer to sell, or a solicitation to purchase, any security or other financial instrument, or a solicitation of interest in any fund, account or investment strategy. Any offer or solicitation with respect to any securities that may be issued by any investment vehicle managed or sponsored by Ares Management or one of its affiliated entities (each an “Ares Fund”) will be made only by means of a definitive offering memorandum (as modified or supplemented from time to time, a “Memorandum”). You should refer to the Memorandum and any other subscription documents relating to the relevant Ares Fund before making any investment decision. The Memorandum and subscription documents will contain complete information concerning the rights, privileges and obligations of investors in the relevant Ares Fund. The information contained in any such Memorandum or subscription documents will supersede this communication and any other marketing materials (in whatever form) issued or communicated by Ares Management.

Interests in any Ares Fund(s) described herein have not been recommended, approved or disapproved by the U.S. Securities and Exchange Commission (“SEC”) or by the securities regulatory authority of any state or of any other U.S. or non-U.S. jurisdiction, nor has the SEC or any such securities regulatory authority passed upon the accuracy or adequacy of this website. Any representation to the contrary is unlawful.
This communication may contain information about Ares and certain of its personnel and affiliates and the historical performance of certain Ares Funds and/or investment vehicles whose portfolios are managed by Ares. This information is supplied to provide information as to Ares’ general portfolio management experience. Neither Ares nor any third party makes any representation or warranty (express or implied) with respect to the information contained herein (including, without limitation, information obtained from third parties) and Ares expressly disclaims any and all liability based on or relating to the information contained in, or errors or omissions from, this communication; or based on or relating to your use of the communication; or any other written or oral communications transmitted to you in the course of your evaluation of Ares or a potential investment in any Ares Fund.
The content of this communication should not be construed as legal, tax, or investment advice. Regarding sustainability-related aspects of any investment included herein, the decision to invest in any Ares Fund should take into account all the characteristics or objectives as described in the legal documentation of the relevant Ares Fund.

Forward-looking statements
This communication may contain “forward‐looking” statements that are not purely historical in nature. Any such statements are based upon estimates, projections, plans and assumptions about future events or conditions (not all of which will be specified herein). They are intended only as illustrations and by their nature are uncertain. No representations are made as to the accuracy of such statements. Not all relevant events or conditions may have been considered in developing such statements and assumptions. The achievement of results and objectives is dependent upon a multitude of factors, many of which are beyond the control of Ares and/or any referenced portfolio company. The statements may not consider or address all aspects of a referenced portfolio investment, including aspects that might be material or important. You must not rely upon any forward-looking statement contained in this communication, and you acknowledge and agree that you shall have no claim at law or in equity by virtue of anything contained in or omitted from any such statement. Past performance is not indicative of future results. There is no assurance that an Ares Fund will be able to generate returns for its investors (as stated herein or otherwise).

Country Specific Disclaimers
NOTICE TO RESIDENTS OF AUSTRALIA
The information herein is only available in Australia for (i) wholesale clients (as defined in section 761G of the Corporations Act 2001 (Cth) (“Corporations Act”)); (ii) investors investing through an investor directed portfolio service, master trust, wrap account or an investor directed portfolio service-like scheme (“IDPS”); and (iii) persons to whom Equity Trustees has notified as being eligible to participate in the offer of units in the Access Fund and who have received the Access Fund’s Product Disclosure Statement within Australia.
This website is not a disclosure document under Chapter 6D of the Corporations Act or a product disclosure statement under Part 7.9 of the Corporations Act. It is not required to, and does not, contain all the information which would be required in a disclosure document or a product disclosure document. It has not been lodged with the Australian Securities and Investments Commission.

NOTICE TO RESIDENTS OF NEW ZEALAND
WARNING (please read the following important information): The information herein is only available in New Zealand for “wholesale investors” within the meaning of clause 3(2) of Schedule 1 of the Financial Markets Conduct Act 2013 (“FMCA Schedule 1”) which covers “investment businesses”, persons meeting the “investment activity criteria”, “large” persons and “governmental agencies” as defined in each case in FMCA Schedule 1 (but does not extend to “eligible investors” as defined in clause 41 of FMCA Schedule 1 or investors meeting the $NZ 750,000 minimum investment amount criteria under clause 3(3)(b) of FMCA Schedule 1). The information referred to herein is restricted in New Zealand to persons in these four “wholesale investors” categories. Applications or any requests for information from persons in New Zealand who do not meet the above criteria will not be accepted.