ADVISORY BUSINESS Apollo Global Management, Inc. Apollo Global Management, Inc. (“AGM,” and together with its subsidiaries, “Apollo”), a Delaware corporation, is a high-growth, global alternative asset manager and a retirement services provider that is publicly listed on the New York Stock Exchange under the symbol “APO.” AGM’s business is to generate investment income and retirement savings by managing, raising, and investing assets in private and public markets and across the yield, hybrid, and equity spectrum (as described herein) in order to seek excess returns for Clients (as defined herein). AGM has three reportable segments: (1) asset management; (2) retirement services; and (3) principal investing. These business segments are differentiated based on the investment services they provide, as well as varying investing strategies. AGM’s asset management segment focuses on three investing strategies: yield, hybrid, and equity. These strategies reflect the range of investment capabilities across Apollo’s asset management platform based on relative risk and return. Yield focuses on generating excess returns through high-quality credit underwriting and origination. In addition to participation in the traditional issuance and secondary credit markets, through affiliated origination platforms and corporate solutions capabilities, the yield strategy seeks to originate attractive and safe-yielding assets for investors. Hybrid brings together debt and equity capabilities and seeks to offer a differentiated risk-adjusted return with an emphasis on structured, downside protected opportunities across asset classes. Equity emphasizes flexibility, complexity, and purchase price discipline to drive opportunistic-like returns for investors throughout market cycles. Apollo’s equity team has experience across sectors, industries, and geographies in both private equity and real estate equity. Control equity transactions are principally buyouts, corporate carveouts, and distressed investments, while real estate funds generally transact in single asset, portfolio, and platform acquisitions. Apollo’s retirement services business is conducted by Athene Holding Ltd. (“Athene Holding” or “Athene”), a leading financial services company that specializes in issuing, reinsuring, and acquiring retirement savings products designed for the increasing number of individuals and institutions seeking to fund retirement needs. In AGM’s principal investing segment, AGM makes strategic equity and financing investments and generates performance allocations from the Apollo Funds (as defined herein). Apollo Asset Management, Inc. Apollo Asset Management, Inc. (“AAM”), a Delaware corporation, is one of AGM’s principal subsidiaries. AGM’s asset management business (described above) operates under AAM. Investment funds (“Apollo Funds”), real estate investment trusts (“REITs”), vehicles, accounts, products, and/or other similar arrangements sponsored, advised, and/or managed by Apollo or its affiliates, whether currently in existence or subsequently established (in each case, including any related successor funds, alternative vehicles, supplemental capital vehicles, surge funds, over-flow funds, co-investment vehicles and other entities formed in connection with Apollo or its affiliates side-by-side or additional general partner investments with respect thereto) are collectively referred to herein as “Other Apollo

Accounts” or “Apollo Clients.” ARIS Management, LLC The Adviser is a subsidiary of AGM and registered as an investment adviser with the SEC. The Adviser is the investment adviser to Apollo Realty Income Solutions, Inc. (the “ARIS Parent”), ARIS Operating Partnership L.P. (the “ARIS Operating Partnership” and, together with the ARIS Parent, the “ARIS REIT”) and AREI IDF. The ARIS Parent, the ARIS Operating Partnership and the AREI IDF are collectively referred to as “Clients,” unless the context herein dictates otherwise, such as when referring to the Apollo Clients more broadly. As of December 31, 2023, the Adviser had approximately $608,611,911 in regulatory assets under management on a discretionary basis and $0 in regulatory assets under management on a non- discretionary basis. Investment Advisory Relationship The advisory relationship between the ARIS REIT and the Adviser is governed by an advisory agreement (the “Advisory Agreement”). The negotiation of the Advisory Agreement between the ARIS REIT and the Adviser was not conducted at arm’s length because they are related parties. The terms of the Advisory Agreement, including the fees payable to the Adviser, could therefore be less favorable to the ARIS REIT than they would be if they had been negotiated with an unaffiliated third party. The Adviser generally seeks to acquire, develop, reposition, manage, and operate commercial real estate primarily in the United States (“US”) and focuses on a range of asset types. Pursuant to the terms of the Advisory Agreement, the Adviser is responsible for, among other things:  serving as an advisor to the ARIS REIT with respect to the establishment and periodic review of their investment guidelines and the ARIS REIT’s investments, financing activities, and operations;  sourcing, evaluating, and monitoring the ARIS REIT’s investment opportunities and executing the acquisition, management, financing, and disposition of the ARIS REIT’s assets, in accordance with their investment guidelines, policies and objectives and limitations, subject to oversight by the ARIS Parent board of directors;  with respect to prospective acquisitions, purchases, sales, exchanges or other dispositions of investments, conducting negotiations on the ARIS REIT’s behalf with sellers, purchasers, and other counterparties and, if applicable, their respective agents, advisors, and representatives, and determining the structure and terms of such transactions;  providing portfolio management and other related services;  serving as advisor with respect to decisions regarding any of the ARIS REIT’s financings, hedging activities, or borrowings; and  engaging and supervising, on the ARIS REIT’s behalf and at their expense, various service providers. The Adviser’s scope of authority with respect to acquisition and disposition of transactions by the ARIS REIT may be changed by the board of directors of the ARIS Parent from time to time. The advisory relationship between the AREI IDF and the Adviser is governed by an investment management agreement. The information provided above about the investment advisory services provided by the Adviser is qualified in its entirety by reference to the Clients’ governing documents and, in relation to the ARIS REIT, the Advisory Agreement filed as an exhibit to the ARIS Parent’s registration statement which is publicly available on the SEC’s website.