Ares Commercial Real Estate Corp

Rule 10b5-1 Trading Plans

During the fiscal quarter ended September 30, 2024, none of our directors or executive officers adopted orterminated any contract, instruction or written plan for the purchase or sale of our securities to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement.”

Amendment to the CNB Facility

On November 6, 2024, we, as guarantor, and our wholly-owned subsidiary, ACRC Lender LLC, entered into an amendment to the CNB Facility. The amendment updates the definition of borrowing base to generally provide that, investment grade pledged investments will result in a borrowing base equal to 90% of the fair value of such pledged investments in addition to the existing 55% of the fair value of other types of pledged investments. The amendment also updates other related provisions. The foregoing description of the amendment to the CNB Facility is only a summary of the material provisions of the amendment and is qualified in its entirety by reference to a copy of such amendment, which is filed herewith as Exhibit 10.1, and by this reference incorporated herein.