ARES COML REAL ESTATE CORP

CUSIP: 04013VAB4 Class: NOTE 7.000%12/1

Pine River Capital Management L.P.'s Holding History (CIK: 0001288136)

Note: Option positions (PUT/CALL) are excluded.

Q3 2015
Shares 7,975,000 Value ($000) $7,980 Avg Close — Range —
Q2 2015
Shares 7,975,000 Value ($000) $8,058 Avg Close — Range —
Q1 2015
Shares 7,975,000 Value ($000) $8,072 Avg Close — Range —
Q4 2014
Shares 7,975,000 Value ($000) $8,171 Avg Close — Range —
Q3 2014
Shares 7,975,000 Value ($000) $8,247 Avg Close — Range —
Q2 2014
Shares 1,250,000 Value ($000) $1,278 Avg Close — Range —
Q1 2014
Shares 500,000 Value ($000) $512 Avg Close — Range —