AAA Sub Fund 2-Y, L.P. - 20 Mar 2025 Form 4 Insider Report for Apollo Realty Income Solutions, Inc.

Role: 10%+ Owner
Signature: /s/ See signatures attached as Exhibit 99.1
Issuer symbol: N/A
Transactions as of: 20 Mar 2025
Net transactions value: +$512,304
Form type: 4
Filing time: 21 Mar 2025, 16:04:25 UTC
Previous filing: 21 Feb 2025
Next filing: 29 Apr 2025
SEC: View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction		Class A-I units of ARIS Operating Partnership L.P.	Purchase	$512,304	+24,067	+0.44%	$21.29	5,456,770	20 Mar 2025	Common stock, par value $0.01 per share	24,067		See footnotes	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents Class A-I units of ARIS Operating Partnership L.P. acquired by AAA Sub Fund 2-Y, L.P. ("AAA Sub-Fund") through a dividend reinvestment plan, which units may be redeemed for cash, or at the option of Apollo Realty Income Solutions, Inc. (the "Company"), for shares of common stock of the Company on a one-for-one basis. Apollo Aligned Alternatives Advisors, L.P. ("AAA Advisors") is the general partner of AAA Sub-Fund. AAA Advisors GP, LLC ("AAA Advisors GP") is the general partner of AAA Advisors. APH Holdings (DC), L.P. ("APH Holdings") is the managing member of AAA Advisors GP. Apollo Principal Holdings B GP, LLC ("Apollo Principal Holdings B") is the general partner of APH Holdings. (cont'd in FN2)
F2	(cont'd from FN1) Apollo Principal Holdings B is managed by a board of managers consisting of Marc Rowan, Scott Kleinman and James Zelter. Each of AAA Advisors, AAA Advisors GP, APH Holdings, Apollo Principal Holdings B and Messrs. Rowan, Kleinman and Zelter disclaim beneficial ownership of the securities described above.

Content

Represents Class A-I units of ARIS Operating Partnership L.P. acquired by AAA Sub Fund 2-Y, L.P. ("AAA Sub-Fund") through a dividend reinvestment plan, which units may be redeemed for cash, or at the option of Apollo Realty Income Solutions, Inc. (the "Company"), for shares of common stock of the Company on a one-for-one basis. Apollo Aligned Alternatives Advisors, L.P. ("AAA Advisors") is the general partner of AAA Sub-Fund. AAA Advisors GP, LLC ("AAA Advisors GP") is the general partner of AAA Advisors. APH Holdings (DC), L.P. ("APH Holdings") is the managing member of AAA Advisors GP. Apollo Principal Holdings B GP, LLC ("Apollo Principal Holdings B") is the general partner of APH Holdings. (cont'd in FN2)

(cont'd from FN1) Apollo Principal Holdings B is managed by a board of managers consisting of Marc Rowan, Scott Kleinman and James Zelter. Each of AAA Advisors, AAA Advisors GP, APH Holdings, Apollo Principal Holdings B and Messrs. Rowan, Kleinman and Zelter disclaim beneficial ownership of the securities described above.