Robert Scott Chambers - 28 Nov 2023 Form 4 Insider Report for AMERICOLD REALTY TRUST (COLD)

Footnote F1

The price reported in column 4 is a weighted average price. These common shares were sold in multiple transactions at prices ranging from $28.22 to $28.23, inclusive. The reporting person undertakes to provide to Americold Realty Trust, any security holder of Americold Realty Trust, or the staff of the Securities and Exchange Commission, upon request, full in information regarding the number of common shares sold at each separate price within the range set forth above.

Footnote F2

The Performance-based Operating Profits Units ("POPUs") were originally granted to the reporting person pursuant to the Americold Realty Trust 2017 Equity Incentive Plan on March 8, 2020. Vesting of the POPUs was determined based upon a comparison of the Company's total shareholder return ("TSR") on a relative basis to the MSCI U.S. REIT Index at the end of the applicable performance period (Jan. 1, 2020 - Dec. 31, 2022). The POPUs vested at the end of the 3-year period based upon achievement of 83% of the pre-established TSR goal.

Footnote F3

Conditioned upon minimum allocations to the capital accounts of the POPUs for federal income tax purposes, each vested POPU may be converted, at the election of the holder, into a common unit of limited partnership interest in the Operating Partnership (a "Common Unit"). Each Common Unit acquired upon conversion of a vested POPU may, at the election of the holder, be presented for redemption for cash equal to the then fair market value of a share of Americold Realty Trust, Inc. (the "Company") common stock (the "Common Stock"), except that the Company may, at its election, acquire each Common Unit so presented for one share of Common Stock. The rights to convert vested POPUs into Common Units and redeem Common Units have no expiration dates.