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 "markdown": "# DISCLAIMER\n\nForward-Looking Statements (continued)\nIn light of these risks and uncertainties, the forward-looking events and circumstances discussed in this presentation might not occur and actual results, performance or achievement could differ materially\nfrom those anticipated or implied in the forward-looking statements. The Company undertakes no obligation, and specifically disclaims any obligation, to publicly update or revise any forward-looking\nstatements, whether as a result of new information, future events or otherwise, except as required by law.\n\n\n**Past Performance**\nPast performance is not indicative of future results. There is no guarantee that any investment strategy referenced herein will work under all market conditions. Prior to making any investment decision, you\nshould evaluate your ability to invest for the long-term, especially during periods of downturns in the market. You alone assume the responsibility of evaluating the merits and risks associated with any\npotential investment or investment strategy referenced herein.\n\n\n**Notes on Presentation**\nThis presentation contains information regarding financial results that is calculated and presented on the basis of methodologies other than in accordance with accounting principles generally accepted in the\nUnited States (\u201cGAAP\u201d), which management believes is relevant to assessing ACR\u2019s financial performance. Please refer to page 18 for the reconciliation of Net Income (Loss), a GAAP financial measure, to\nEarnings Available for Distribution (\u201cEAD\u201d), a non-GAAP financial measure. Unless otherwise indicated, information included in this presentation is at or for the period ended March 31, 2026.\n\n\n**Definitions**\nRefer to page 20 for a description of certain terms not otherwise defined or footnoted, including EAD, Benchmark Rate,\nBook Value, and other key terms.\n\n\n**No Offer or Sale of Securities**\nThis presentation is for informational purposes only and does not constitute an offer to sell or the solicitation of any offer to buy any\nsecurities of ACR or any other entity. Any offering of securities would be made pursuant to separate documentation and any such\nsecurities would not be offered or sold in the United States absent registration or an applicable exemption from registration\nrequirements.\n\n\nA\n\n\n<figure type=\"PHOTOGRAPH\">resentation is at or for the period ended March 31, 2026.\n\n\n\n<description>The image is a photograph featuring the exterior facade of a modern, multi-story building. The structure is characterized by a sharp, angular design with a prominent corner where two glass-walled planes meet. The glass panels are dark and reflective, set within a grid of thin, light-colored mullions. The overall color palette is dominated by cool, muted blue and grey tones, likely due to a filter or lighting effect. At the bottom right of the image, the text 'ACRESREIT.COM' appears alongside a circled number '3'.</description></figure>\n\n<!-- doc_id=parse-01m2p096j739dgszrnqw180xsk -->",
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