COLD

SEC source: 0001209191-18-005466 · doc4.xml · nonDerivative · entry 1

BURKLE RONALD W · CIK 0001015899 · Director · 10% owner

YF Art Holdings, L.P. · CIK 0001728394 · Director · 10% owner

YF Art Holdings GP, LLC · CIK 0001728463 · Director · 10% owner

Yucaipa American Alliance Fund I, LP · CIK 0001330612 · Director · 10% owner

Yucaipa American Alliance Fund I, LLC · CIK 0001490584 · Director · 10% owner

YUCAIPA AMERICAN FUNDS, LLC · CIK 0001452934 · Director · 10% owner

YUCAIPA AMERICAN MANAGEMENT, LLC · CIK 0001452932 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes 2 and 3 and Remarks below

Disclosed balance after: 87,917,388

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: Represents the cashless exercise of common share purchase warrants (the "Warrants") held by YF Art Holdings, L.P. ("YFA") to purchase 18,574,619 common shares of beneficial interest, par value $0.01 per share, of the Issuer ("Common Shares"). Pursuant to the terms of the Warrants, the Issuer withheld 12,147,801 Common Shares to pay the exercise price, and issued 6,426,818 Common Shares to YFA.

F2 · ownership.nature: All securities reported on this Form 4 are held by YFA.

F3 · ownership.nature: Under the shareholders agreement between the Issuer and the shareholders of the Issuer party thereto in effect as of the closing of the initial public offering of the Issuer, YFA has the right to designate, and has designated, two trustees to the board of trustees of the Issuer (the "Board"). Each of Jeffrey M. Gault and Joel A. Holsinger serves on the Board as a representative of YFA. As a result, YFA may be deemed a director by deputization solely for purposes of Section 16 of the Securities Exchange Act of 1934, as amended ("Section 16").

SEC source: 0001209191-18-005475 · doc4.xml · derivative · entry 4

Fortress Investment Group LLC · CIK 0001380393 · 10% owner

FIG Corp. · CIK 0001387345 · 10% owner

Fortress Operating Entity I LP · CIK 0001387344 · 10% owner

Hybrid GP Holdings LLC · CIK 0001500292 · 10% owner

FIG LLC · CIK 0001245521 · 10% owner

CF Cold GP LLC · CIK 0001728223 · 10% owner

CF Cold LP · CIK 0001728261 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 0

Underlying: Common Shares of Beneficial Interest · 18,574,619 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: Represents the cashless exercise of Warrants to purchase 18,574,619 Common Shares of Beneficial Interest ("Common Shares") by YF ART Holdings, L.P., a Delaware limited partnership ("YFA"). Pursuant to the terms of the Warrants, the Issuer withheld 12,147,801 Common Shares to pay the exercise price, and issued 6,426,818 Common Shares to YFA.

F3 · derivative.expiration_date: The Warrants to purchase Common Shares expire on the earliest to occur of (i) 5:00 p.m. New York time on January 31, 2019, (ii) the closing of a qualified sale transaction and (iii) the closing of a qualified initial public offering.

F2 · ownership.nature: Securities held through YFA. YFA is not controlled by the reporting persons and may file separate reports under Section 16. Each reporting person disclaims beneficial ownership of all reported shares except to the extent of its pecuniary interest therein and the inclusion of the shares in this report shall not be deemed to be an admission of beneficial ownership of the reported shares for the purposes of Section 16 or otherwise.

SEC source: 0001209191-18-005475 · doc4.xml · nonDerivative · entry 3

Fortress Investment Group LLC · CIK 0001380393 · 10% owner

FIG Corp. · CIK 0001387345 · 10% owner

Fortress Operating Entity I LP · CIK 0001387344 · 10% owner

Hybrid GP Holdings LLC · CIK 0001500292 · 10% owner

FIG LLC · CIK 0001245521 · 10% owner

CF Cold GP LLC · CIK 0001728223 · 10% owner

CF Cold LP · CIK 0001728261 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 62,188,303

F2 · ownership.nature: Securities held through YFA. YFA is not controlled by the reporting persons and may file separate reports under Section 16. Each reporting person disclaims beneficial ownership of all reported shares except to the extent of its pecuniary interest therein and the inclusion of the shares in this report shall not be deemed to be an admission of beneficial ownership of the reported shares for the purposes of Section 16 or otherwise.

SEC source: 0001209191-18-005475 · doc4.xml · nonDerivative · entry 2

Fortress Investment Group LLC · CIK 0001380393 · 10% owner

FIG Corp. · CIK 0001387345 · 10% owner

Fortress Operating Entity I LP · CIK 0001387344 · 10% owner

Hybrid GP Holdings LLC · CIK 0001500292 · 10% owner

FIG LLC · CIK 0001245521 · 10% owner

CF Cold GP LLC · CIK 0001728223 · 10% owner

CF Cold LP · CIK 0001728261 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 75,769,587

F1 · kind: Represents the cashless exercise of Warrants to purchase 18,574,619 Common Shares of Beneficial Interest ("Common Shares") by YF ART Holdings, L.P., a Delaware limited partnership ("YFA"). Pursuant to the terms of the Warrants, the Issuer withheld 12,147,801 Common Shares to pay the exercise price, and issued 6,426,818 Common Shares to YFA.

F2 · ownership.nature: Securities held through YFA. YFA is not controlled by the reporting persons and may file separate reports under Section 16. Each reporting person disclaims beneficial ownership of all reported shares except to the extent of its pecuniary interest therein and the inclusion of the shares in this report shall not be deemed to be an admission of beneficial ownership of the reported shares for the purposes of Section 16 or otherwise.

SEC source: 0001209191-18-005475 · doc4.xml · nonDerivative · entry 1

Fortress Investment Group LLC · CIK 0001380393 · 10% owner

FIG Corp. · CIK 0001387345 · 10% owner

Fortress Operating Entity I LP · CIK 0001387344 · 10% owner

Hybrid GP Holdings LLC · CIK 0001500292 · 10% owner

FIG LLC · CIK 0001245521 · 10% owner

CF Cold GP LLC · CIK 0001728223 · 10% owner

CF Cold LP · CIK 0001728261 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 87,917,388

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: Represents the cashless exercise of Warrants to purchase 18,574,619 Common Shares of Beneficial Interest ("Common Shares") by YF ART Holdings, L.P., a Delaware limited partnership ("YFA"). Pursuant to the terms of the Warrants, the Issuer withheld 12,147,801 Common Shares to pay the exercise price, and issued 6,426,818 Common Shares to YFA.

F2 · ownership.nature: Securities held through YFA. YFA is not controlled by the reporting persons and may file separate reports under Section 16. Each reporting person disclaims beneficial ownership of all reported shares except to the extent of its pecuniary interest therein and the inclusion of the shares in this report shall not be deemed to be an admission of beneficial ownership of the reported shares for the purposes of Section 16 or otherwise.

SEC source: 0001140361-18-003293 · doc1.xml · derivative · entry 4

Gross Bradley J. · CIK 0001447253 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 0

Underlying: Common Shares · 28,808,224 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · derivative.exercise_price: On January 23, 2018, in connection with the consummation of the initial public offering (the "IPO") of the Company, all of the 325,000 5.00% Series B Cumulative Convertible Voting Preferred Shares (the "Series B Preferred Shares") of the Company held by certain investment partnerships (the "GS Investors") were converted (the "Conversion") into an aggregate of 28,808,224 Common Shares of the Company and the payment of cash in lieu of fractional shares.

F4 · price: On January 23, 2018, in connection with the consummation of the initial public offering (the "IPO") of the Company, all of the 325,000 5.00% Series B Cumulative Convertible Voting Preferred Shares (the "Series B Preferred Shares") of the Company held by certain investment partnerships (the "GS Investors") were converted (the "Conversion") into an aggregate of 28,808,224 Common Shares of the Company and the payment of cash in lieu of fractional shares.

F4 · derivative.exercise_date: On January 23, 2018, in connection with the consummation of the initial public offering (the "IPO") of the Company, all of the 325,000 5.00% Series B Cumulative Convertible Voting Preferred Shares (the "Series B Preferred Shares") of the Company held by certain investment partnerships (the "GS Investors") were converted (the "Conversion") into an aggregate of 28,808,224 Common Shares of the Company and the payment of cash in lieu of fractional shares.

F4 · derivative.expiration_date: On January 23, 2018, in connection with the consummation of the initial public offering (the "IPO") of the Company, all of the 325,000 5.00% Series B Cumulative Convertible Voting Preferred Shares (the "Series B Preferred Shares") of the Company held by certain investment partnerships (the "GS Investors") were converted (the "Conversion") into an aggregate of 28,808,224 Common Shares of the Company and the payment of cash in lieu of fractional shares.

F1 · ownership.nature: The Reporting Person is a managing director of Goldman Sachs & Co. LLC ("Goldman Sachs"). Goldman Sachs is a subsidiary of The Goldman Sachs Group, Inc. ("GS Group"). The Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

F4 · ownership.nature: On January 23, 2018, in connection with the consummation of the initial public offering (the "IPO") of the Company, all of the 325,000 5.00% Series B Cumulative Convertible Voting Preferred Shares (the "Series B Preferred Shares") of the Company held by certain investment partnerships (the "GS Investors") were converted (the "Conversion") into an aggregate of 28,808,224 Common Shares of the Company and the payment of cash in lieu of fractional shares.

F7 · ownership.nature: As of January 23, 2018, as a result of the Purchase, Goldman Sachs beneficially owns directly, and GS Group may be deemed to beneficially own indirectly, 125,000 Common Shares, and as a result of the Conversion, the IPO, and the Over-Allotment Option, both Goldman Sachs and GS Group may be deemed to beneficially own indirectly, in the aggregate, 23,644,508 Common Shares owned by the GS Investors because affiliates of Goldman Sachs and GS Group are the general partner, managing limited partner, managing general partner, managing partner, managing member or member of each of the GS Investors. Goldman Sachs is a subsidiary of GS Group. Goldman Sachs is the investment manager of certain of the GS Investors.

SEC source: 0001140361-18-003293 · doc1.xml · nonDerivative · entry 3

Gross Bradley J. · CIK 0001447253 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 23,769,508

F5 · shares: In connection with the IPO, pursuant to an underwriting agreement (the "Underwriting Agreement") and final prospectus, each dated January 18, 2018, the GS Investors as selling shareholders, sold 4,490,188 Common Shares at $14.904 per share, which represents the $16.00 IPO price per Common Share, less the underwriting discount of $1.096 per Common Share. The IPO closed on January 23, 2018.

F6 · shares: In connection with the IPO and pursuant to the Underwriting Agreement, the underwriters exercised their option (the "Over-Allotment Option") to purchase additional Common Shares from the selling shareholders. The Over-Allotment Option closed simultaneously with the IPO on January 23, 2018. The GS Investors sold an additional 673,528 Common Shares pursuant to the underwriters' exercise of the Over-Allotment Option.

F5 · price: In connection with the IPO, pursuant to an underwriting agreement (the "Underwriting Agreement") and final prospectus, each dated January 18, 2018, the GS Investors as selling shareholders, sold 4,490,188 Common Shares at $14.904 per share, which represents the $16.00 IPO price per Common Share, less the underwriting discount of $1.096 per Common Share. The IPO closed on January 23, 2018.

F1 · ownership.nature: The Reporting Person is a managing director of Goldman Sachs & Co. LLC ("Goldman Sachs"). Goldman Sachs is a subsidiary of The Goldman Sachs Group, Inc. ("GS Group"). The Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

F5 · ownership.nature: In connection with the IPO, pursuant to an underwriting agreement (the "Underwriting Agreement") and final prospectus, each dated January 18, 2018, the GS Investors as selling shareholders, sold 4,490,188 Common Shares at $14.904 per share, which represents the $16.00 IPO price per Common Share, less the underwriting discount of $1.096 per Common Share. The IPO closed on January 23, 2018.

F6 · ownership.nature: In connection with the IPO and pursuant to the Underwriting Agreement, the underwriters exercised their option (the "Over-Allotment Option") to purchase additional Common Shares from the selling shareholders. The Over-Allotment Option closed simultaneously with the IPO on January 23, 2018. The GS Investors sold an additional 673,528 Common Shares pursuant to the underwriters' exercise of the Over-Allotment Option.

F7 · ownership.nature: As of January 23, 2018, as a result of the Purchase, Goldman Sachs beneficially owns directly, and GS Group may be deemed to beneficially own indirectly, 125,000 Common Shares, and as a result of the Conversion, the IPO, and the Over-Allotment Option, both Goldman Sachs and GS Group may be deemed to beneficially own indirectly, in the aggregate, 23,644,508 Common Shares owned by the GS Investors because affiliates of Goldman Sachs and GS Group are the general partner, managing limited partner, managing general partner, managing partner, managing member or member of each of the GS Investors. Goldman Sachs is a subsidiary of GS Group. Goldman Sachs is the investment manager of certain of the GS Investors.

SEC source: 0001140361-18-003293 · doc1.xml · nonDerivative · entry 2

Gross Bradley J. · CIK 0001447253 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 28,933,224

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · price: On January 23, 2018, in connection with the consummation of the initial public offering (the "IPO") of the Company, all of the 325,000 5.00% Series B Cumulative Convertible Voting Preferred Shares (the "Series B Preferred Shares") of the Company held by certain investment partnerships (the "GS Investors") were converted (the "Conversion") into an aggregate of 28,808,224 Common Shares of the Company and the payment of cash in lieu of fractional shares.

F1 · ownership.nature: The Reporting Person is a managing director of Goldman Sachs & Co. LLC ("Goldman Sachs"). Goldman Sachs is a subsidiary of The Goldman Sachs Group, Inc. ("GS Group"). The Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

F4 · ownership.nature: On January 23, 2018, in connection with the consummation of the initial public offering (the "IPO") of the Company, all of the 325,000 5.00% Series B Cumulative Convertible Voting Preferred Shares (the "Series B Preferred Shares") of the Company held by certain investment partnerships (the "GS Investors") were converted (the "Conversion") into an aggregate of 28,808,224 Common Shares of the Company and the payment of cash in lieu of fractional shares.

F7 · ownership.nature: As of January 23, 2018, as a result of the Purchase, Goldman Sachs beneficially owns directly, and GS Group may be deemed to beneficially own indirectly, 125,000 Common Shares, and as a result of the Conversion, the IPO, and the Over-Allotment Option, both Goldman Sachs and GS Group may be deemed to beneficially own indirectly, in the aggregate, 23,644,508 Common Shares owned by the GS Investors because affiliates of Goldman Sachs and GS Group are the general partner, managing limited partner, managing general partner, managing partner, managing member or member of each of the GS Investors. Goldman Sachs is a subsidiary of GS Group. Goldman Sachs is the investment manager of certain of the GS Investors.

SEC source: 0001140361-18-003290 · doc1.xml · derivative · entry 4

GS Advisors VI, L.L.C. · CIK 0001394288 · 10% owner

GSCP VI Offshore Advisors, L.L.C. · CIK 0001394278 · 10% owner

GSCP VI Advisors, L.L.C. · CIK 0001394286 · 10% owner

GOLDMAN, SACHS MANAGEMENT GP GMBH · CIK 0001232073 · 10% owner

Opportunity Partners Offshore-B Co-Invest AIV Advisors, Ltd. · CIK 0001646000 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 0

Underlying: Common Shares · 28,808,224 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F5 · derivative.exercise_price: On January 23, 2018, in connection with the consummation of the initial public offering (the "IPO") of the Company, all of the 325,000 5.00% Series B Cumulative Convertible Voting Preferred Shares (the "Series B Preferred Shares") of the Company held by the GS Investors were converted (the "Conversion") into an aggregate of 28,808,224 Common Shares of the Company and the payment of cash in lieu of fractional shares.

F5 · price: On January 23, 2018, in connection with the consummation of the initial public offering (the "IPO") of the Company, all of the 325,000 5.00% Series B Cumulative Convertible Voting Preferred Shares (the "Series B Preferred Shares") of the Company held by the GS Investors were converted (the "Conversion") into an aggregate of 28,808,224 Common Shares of the Company and the payment of cash in lieu of fractional shares.

F5 · derivative.exercise_date: On January 23, 2018, in connection with the consummation of the initial public offering (the "IPO") of the Company, all of the 325,000 5.00% Series B Cumulative Convertible Voting Preferred Shares (the "Series B Preferred Shares") of the Company held by the GS Investors were converted (the "Conversion") into an aggregate of 28,808,224 Common Shares of the Company and the payment of cash in lieu of fractional shares.

F5 · derivative.expiration_date: On January 23, 2018, in connection with the consummation of the initial public offering (the "IPO") of the Company, all of the 325,000 5.00% Series B Cumulative Convertible Voting Preferred Shares (the "Series B Preferred Shares") of the Company held by the GS Investors were converted (the "Conversion") into an aggregate of 28,808,224 Common Shares of the Company and the payment of cash in lieu of fractional shares.

F1 · ownership.nature: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group"), Goldman Sachs & Co. LLC ("Goldman Sachs"), GS Capital Partners VI Parallel, L.P. ("GS Parallel"), GS Capital Partners VI Offshore Fund, L.P. ("GS Offshore"), GS Capital Partners VI Fund, L.P. ("GS Cap Partners VI"), GS Capital Partners VI GmbH & CO. KG ("GS Germany"), Opportunity Partners Offshore-B Co-Invest AIV, L.P. ("Opportunity Partners" and, together with GS Parallel, GS Offshore, GS Cap Partners VI and GS Germany, the "GS Funds"), GSCP VI Offshore IceCap Investment, L.P. ("GSCP Offshore IceCap Investment"), GSCP VI GmbH IceCap Investment, L.P. ("GSCP GmbH IceCap Investment"), IceCap2 Holdings, L.P. ("IceCap2 Holdings" and, together with GS Parallel, GSCP Offshore IceCap Investment, GS Cap Partners VI and GSCP GmbH IceCap Investment, the "GS Investors"), GS Advisors VI, L.L.C. ("GS Advisors VI"), (continued in Footnote 2)

F2 · ownership.nature: Goldman, Sachs Management GP GmbH ("GS GmbH"), GSCP VI Advisors, L.L.C. ("GSCP VI Advisors"), GSCP VI Offshore Advisors, L.L.C. ("GSCP VI Offshore Advisors") and Opportunity Partners Offshore-B Co-Invest AIV Advisors, Ltd. ("Opportunity Advisors" and, together with GS Group, Goldman Sachs, the GS Funds, GSCP Offshore IceCap Investment, GSCP GmbH IceCap Investment, IceCap2 Holdings, GS Advisors VI, GS GmbH, GSCP VI Advisors and GSCP VI Offshore Advisors, the "Reporting Persons").

F5 · ownership.nature: On January 23, 2018, in connection with the consummation of the initial public offering (the "IPO") of the Company, all of the 325,000 5.00% Series B Cumulative Convertible Voting Preferred Shares (the "Series B Preferred Shares") of the Company held by the GS Investors were converted (the "Conversion") into an aggregate of 28,808,224 Common Shares of the Company and the payment of cash in lieu of fractional shares.

F8 · ownership.nature: As of January 23, 2018, as a result of the Purchase, Goldman Sachs beneficially owns directly, and GS Group may be deemed to beneficially own indirectly, 125,000 Common Shares, and as a result of the Conversion, the IPO, and the Over-Allotment Option, both Goldman Sachs and GS Group may be deemed to beneficially own indirectly, in the aggregate, 23,644,508 Common Shares owned by the GS Investors because affiliates of Goldman Sachs and GS Group are the general partner, managing limited partner, managing general partner, managing partner, managing member or member of each of the GS Investors. Goldman Sachs is a subsidiary of GS Group. Goldman Sachs is the investment manager of certain of the GS Investors.

F9 · ownership.nature: As of January 23, 2018, as a result of the Conversion, the IPO and the Over-Allotment Option, GS Parallel beneficially owns directly 2,334,622 Common Shares, which may be deemed to be beneficially owned indirectly by GS Parallel's general partner, GS Advisors VI. GSCP Offshore IceCap Investment beneficially owns directly 7,061,705, which may be deemed to be beneficially owned indirectly by GS Offshore and indirectly by GS Offshore's general partner, GSCP VI Offshore Advisors. GS Cap Partners VI beneficially owns directly 8,489,979 Common Shares, which may be deemed to be beneficially owned indirectly by GS Cap Partners VI's general partner, GSCP VI Advisors. GSCP GmbH IceCap Investment beneficially owns directly 301,776, which may be deemed to be beneficially owned indirectly by GS Germany and indirectly by GS Germany's general partner, GS GmbH. (continued in Footnote 10)

F10 · ownership.nature: IceCap2 Holdings beneficially owns directly 5,456,426, which may be deemed to be beneficially owned indirectly by Opportunity Partners and indirectly by Opportunity Partner's general partner, Opportunity Advisors.

F11 · ownership.nature: The Reporting Persons disclaim beneficial ownership of all Common Shares in excess of their pecuniary interest, if any, and this report shall not be deemed an admission that any such person or entity is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

SEC source: 0001140361-18-003290 · doc1.xml · nonDerivative · entry 3

GS Advisors VI, L.L.C. · CIK 0001394288 · 10% owner

GSCP VI Offshore Advisors, L.L.C. · CIK 0001394278 · 10% owner

GSCP VI Advisors, L.L.C. · CIK 0001394286 · 10% owner

GOLDMAN, SACHS MANAGEMENT GP GMBH · CIK 0001232073 · 10% owner

Opportunity Partners Offshore-B Co-Invest AIV Advisors, Ltd. · CIK 0001646000 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 23,769,508

F6 · shares: In connection with the IPO, pursuant to an underwriting agreement (the "Underwriting Agreement") and final prospectus, each dated January 18, 2018, the GS Investors as selling shareholders, sold 4,490,188 Common Shares at $14.904 per share, which represents the $16.00 IPO price per Common Share, less the underwriting discount of $1.096 per Common Share. The IPO closed on January 23, 2018.

F7 · shares: In connection with the IPO and pursuant to the Underwriting Agreement, the underwriters exercised their option (the "Over-Allotment Option") to purchase additional Common Shares from the selling shareholders. The Over-Allotment Option closed simultaneously with the IPO on January 23, 2018. The GS Investors sold an additional 673,528 Common Shares pursuant to the underwriters' exercise of the Over-Allotment Option.

F6 · price: In connection with the IPO, pursuant to an underwriting agreement (the "Underwriting Agreement") and final prospectus, each dated January 18, 2018, the GS Investors as selling shareholders, sold 4,490,188 Common Shares at $14.904 per share, which represents the $16.00 IPO price per Common Share, less the underwriting discount of $1.096 per Common Share. The IPO closed on January 23, 2018.

F1 · ownership.nature: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group"), Goldman Sachs & Co. LLC ("Goldman Sachs"), GS Capital Partners VI Parallel, L.P. ("GS Parallel"), GS Capital Partners VI Offshore Fund, L.P. ("GS Offshore"), GS Capital Partners VI Fund, L.P. ("GS Cap Partners VI"), GS Capital Partners VI GmbH & CO. KG ("GS Germany"), Opportunity Partners Offshore-B Co-Invest AIV, L.P. ("Opportunity Partners" and, together with GS Parallel, GS Offshore, GS Cap Partners VI and GS Germany, the "GS Funds"), GSCP VI Offshore IceCap Investment, L.P. ("GSCP Offshore IceCap Investment"), GSCP VI GmbH IceCap Investment, L.P. ("GSCP GmbH IceCap Investment"), IceCap2 Holdings, L.P. ("IceCap2 Holdings" and, together with GS Parallel, GSCP Offshore IceCap Investment, GS Cap Partners VI and GSCP GmbH IceCap Investment, the "GS Investors"), GS Advisors VI, L.L.C. ("GS Advisors VI"), (continued in Footnote 2)

F2 · ownership.nature: Goldman, Sachs Management GP GmbH ("GS GmbH"), GSCP VI Advisors, L.L.C. ("GSCP VI Advisors"), GSCP VI Offshore Advisors, L.L.C. ("GSCP VI Offshore Advisors") and Opportunity Partners Offshore-B Co-Invest AIV Advisors, Ltd. ("Opportunity Advisors" and, together with GS Group, Goldman Sachs, the GS Funds, GSCP Offshore IceCap Investment, GSCP GmbH IceCap Investment, IceCap2 Holdings, GS Advisors VI, GS GmbH, GSCP VI Advisors and GSCP VI Offshore Advisors, the "Reporting Persons").

F6 · ownership.nature: In connection with the IPO, pursuant to an underwriting agreement (the "Underwriting Agreement") and final prospectus, each dated January 18, 2018, the GS Investors as selling shareholders, sold 4,490,188 Common Shares at $14.904 per share, which represents the $16.00 IPO price per Common Share, less the underwriting discount of $1.096 per Common Share. The IPO closed on January 23, 2018.

F7 · ownership.nature: In connection with the IPO and pursuant to the Underwriting Agreement, the underwriters exercised their option (the "Over-Allotment Option") to purchase additional Common Shares from the selling shareholders. The Over-Allotment Option closed simultaneously with the IPO on January 23, 2018. The GS Investors sold an additional 673,528 Common Shares pursuant to the underwriters' exercise of the Over-Allotment Option.

F8 · ownership.nature: As of January 23, 2018, as a result of the Purchase, Goldman Sachs beneficially owns directly, and GS Group may be deemed to beneficially own indirectly, 125,000 Common Shares, and as a result of the Conversion, the IPO, and the Over-Allotment Option, both Goldman Sachs and GS Group may be deemed to beneficially own indirectly, in the aggregate, 23,644,508 Common Shares owned by the GS Investors because affiliates of Goldman Sachs and GS Group are the general partner, managing limited partner, managing general partner, managing partner, managing member or member of each of the GS Investors. Goldman Sachs is a subsidiary of GS Group. Goldman Sachs is the investment manager of certain of the GS Investors.

F9 · ownership.nature: As of January 23, 2018, as a result of the Conversion, the IPO and the Over-Allotment Option, GS Parallel beneficially owns directly 2,334,622 Common Shares, which may be deemed to be beneficially owned indirectly by GS Parallel's general partner, GS Advisors VI. GSCP Offshore IceCap Investment beneficially owns directly 7,061,705, which may be deemed to be beneficially owned indirectly by GS Offshore and indirectly by GS Offshore's general partner, GSCP VI Offshore Advisors. GS Cap Partners VI beneficially owns directly 8,489,979 Common Shares, which may be deemed to be beneficially owned indirectly by GS Cap Partners VI's general partner, GSCP VI Advisors. GSCP GmbH IceCap Investment beneficially owns directly 301,776, which may be deemed to be beneficially owned indirectly by GS Germany and indirectly by GS Germany's general partner, GS GmbH. (continued in Footnote 10)

F10 · ownership.nature: IceCap2 Holdings beneficially owns directly 5,456,426, which may be deemed to be beneficially owned indirectly by Opportunity Partners and indirectly by Opportunity Partner's general partner, Opportunity Advisors.

F11 · ownership.nature: The Reporting Persons disclaim beneficial ownership of all Common Shares in excess of their pecuniary interest, if any, and this report shall not be deemed an admission that any such person or entity is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

SEC source: 0001140361-18-003290 · doc1.xml · nonDerivative · entry 2

GS Advisors VI, L.L.C. · CIK 0001394288 · 10% owner

GSCP VI Offshore Advisors, L.L.C. · CIK 0001394278 · 10% owner

GSCP VI Advisors, L.L.C. · CIK 0001394286 · 10% owner

GOLDMAN, SACHS MANAGEMENT GP GMBH · CIK 0001232073 · 10% owner

Opportunity Partners Offshore-B Co-Invest AIV Advisors, Ltd. · CIK 0001646000 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 28,933,224

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F5 · price: On January 23, 2018, in connection with the consummation of the initial public offering (the "IPO") of the Company, all of the 325,000 5.00% Series B Cumulative Convertible Voting Preferred Shares (the "Series B Preferred Shares") of the Company held by the GS Investors were converted (the "Conversion") into an aggregate of 28,808,224 Common Shares of the Company and the payment of cash in lieu of fractional shares.

F1 · ownership.nature: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group"), Goldman Sachs & Co. LLC ("Goldman Sachs"), GS Capital Partners VI Parallel, L.P. ("GS Parallel"), GS Capital Partners VI Offshore Fund, L.P. ("GS Offshore"), GS Capital Partners VI Fund, L.P. ("GS Cap Partners VI"), GS Capital Partners VI GmbH & CO. KG ("GS Germany"), Opportunity Partners Offshore-B Co-Invest AIV, L.P. ("Opportunity Partners" and, together with GS Parallel, GS Offshore, GS Cap Partners VI and GS Germany, the "GS Funds"), GSCP VI Offshore IceCap Investment, L.P. ("GSCP Offshore IceCap Investment"), GSCP VI GmbH IceCap Investment, L.P. ("GSCP GmbH IceCap Investment"), IceCap2 Holdings, L.P. ("IceCap2 Holdings" and, together with GS Parallel, GSCP Offshore IceCap Investment, GS Cap Partners VI and GSCP GmbH IceCap Investment, the "GS Investors"), GS Advisors VI, L.L.C. ("GS Advisors VI"), (continued in Footnote 2)

F2 · ownership.nature: Goldman, Sachs Management GP GmbH ("GS GmbH"), GSCP VI Advisors, L.L.C. ("GSCP VI Advisors"), GSCP VI Offshore Advisors, L.L.C. ("GSCP VI Offshore Advisors") and Opportunity Partners Offshore-B Co-Invest AIV Advisors, Ltd. ("Opportunity Advisors" and, together with GS Group, Goldman Sachs, the GS Funds, GSCP Offshore IceCap Investment, GSCP GmbH IceCap Investment, IceCap2 Holdings, GS Advisors VI, GS GmbH, GSCP VI Advisors and GSCP VI Offshore Advisors, the "Reporting Persons").

F5 · ownership.nature: On January 23, 2018, in connection with the consummation of the initial public offering (the "IPO") of the Company, all of the 325,000 5.00% Series B Cumulative Convertible Voting Preferred Shares (the "Series B Preferred Shares") of the Company held by the GS Investors were converted (the "Conversion") into an aggregate of 28,808,224 Common Shares of the Company and the payment of cash in lieu of fractional shares.

F8 · ownership.nature: As of January 23, 2018, as a result of the Purchase, Goldman Sachs beneficially owns directly, and GS Group may be deemed to beneficially own indirectly, 125,000 Common Shares, and as a result of the Conversion, the IPO, and the Over-Allotment Option, both Goldman Sachs and GS Group may be deemed to beneficially own indirectly, in the aggregate, 23,644,508 Common Shares owned by the GS Investors because affiliates of Goldman Sachs and GS Group are the general partner, managing limited partner, managing general partner, managing partner, managing member or member of each of the GS Investors. Goldman Sachs is a subsidiary of GS Group. Goldman Sachs is the investment manager of certain of the GS Investors.

F9 · ownership.nature: As of January 23, 2018, as a result of the Conversion, the IPO and the Over-Allotment Option, GS Parallel beneficially owns directly 2,334,622 Common Shares, which may be deemed to be beneficially owned indirectly by GS Parallel's general partner, GS Advisors VI. GSCP Offshore IceCap Investment beneficially owns directly 7,061,705, which may be deemed to be beneficially owned indirectly by GS Offshore and indirectly by GS Offshore's general partner, GSCP VI Offshore Advisors. GS Cap Partners VI beneficially owns directly 8,489,979 Common Shares, which may be deemed to be beneficially owned indirectly by GS Cap Partners VI's general partner, GSCP VI Advisors. GSCP GmbH IceCap Investment beneficially owns directly 301,776, which may be deemed to be beneficially owned indirectly by GS Germany and indirectly by GS Germany's general partner, GS GmbH. (continued in Footnote 10)

F10 · ownership.nature: IceCap2 Holdings beneficially owns directly 5,456,426, which may be deemed to be beneficially owned indirectly by Opportunity Partners and indirectly by Opportunity Partner's general partner, Opportunity Advisors.

F11 · ownership.nature: The Reporting Persons disclaim beneficial ownership of all Common Shares in excess of their pecuniary interest, if any, and this report shall not be deemed an admission that any such person or entity is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

SEC source: 0000899243-18-001909 · doc4.xml · derivative · entry 2

Charm Progress Investment Ltd · CIK 0001728963 · See Remarks

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Shares of Beneficial Interest · 4,432,034 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: In connection with the consummation of the initial public offering of Americold Realty Trust, all of Charm Progress Investment Limited's 5.0% Series B Cumulative Voting Preferred Shares will convert into 4,432,034 Common Shares of Beneficial Interest and cash in lieu of fractional shares.

F1 · derivative.exercise_date: In connection with the consummation of the initial public offering of Americold Realty Trust, all of Charm Progress Investment Limited's 5.0% Series B Cumulative Voting Preferred Shares will convert into 4,432,034 Common Shares of Beneficial Interest and cash in lieu of fractional shares.

F1 · derivative.expiration_date: In connection with the consummation of the initial public offering of Americold Realty Trust, all of Charm Progress Investment Limited's 5.0% Series B Cumulative Voting Preferred Shares will convert into 4,432,034 Common Shares of Beneficial Interest and cash in lieu of fractional shares.

SEC source: 0000899243-18-001909 · doc4.xml · nonDerivative · entry 1

Charm Progress Investment Ltd · CIK 0001728963 · See Remarks

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,432,034

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: In connection with the consummation of the initial public offering of Americold Realty Trust, all of Charm Progress Investment Limited's 5.0% Series B Cumulative Voting Preferred Shares will convert into 4,432,034 Common Shares of Beneficial Interest and cash in lieu of fractional shares.

SEC source: 0000899243-18-009147 · doc4a.xml · derivative · entry 2

Power Andrew · CIK 0001641275 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,250

Underlying: Common Shares of Beneficial Interest · 6,250 shares

Expires not disclosed

F2 · derivative.exercise_price: The RSUs will vest on January 23, 2019.

F2 · price: The RSUs will vest on January 23, 2019.

F2 · derivative.exercise_date: The RSUs will vest on January 23, 2019.

F2 · derivative.expiration_date: The RSUs will vest on January 23, 2019.

SEC source: 0000899243-18-009147 · doc4a.xml · derivative · entry 1

Power Andrew · CIK 0001641275 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,250

Underlying: Common Shares of Beneficial Interest · 6,250 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

F1 · price: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

F1 · derivative.exercise_date: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

F1 · derivative.expiration_date: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

SEC source: 0000899243-18-009149 · doc4a.xml · derivative · entry 3

Patterson Mark R · CIK 0001500081 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,250

Underlying: Common Shares of Beneficial Interest · 6,250 shares

Expires not disclosed

F2 · derivative.exercise_price: The RSUs will vest on January 23, 2019.

F2 · price: The RSUs will vest on January 23, 2019.

F2 · derivative.exercise_date: The RSUs will vest on January 23, 2019.

F2 · derivative.expiration_date: The RSUs will vest on January 23, 2019.

SEC source: 0000899243-18-009149 · doc4a.xml · derivative · entry 2

Patterson Mark R · CIK 0001500081 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,250

Underlying: Common Shares of Beneficial Interest · 6,250 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

F1 · price: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

F1 · derivative.exercise_date: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

F1 · derivative.expiration_date: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

SEC source: 0000899243-18-009149 · doc4a.xml · nonDerivative · entry 1

Patterson Mark R · CIK 0001500081 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,250

SEC source: 0000899243-18-009157 · doc4a.xml · derivative · entry 2

Gault Jeffrey M · CIK 0001420947 · Director · See Remarks

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,938

Underlying: Common Shares of Beneficial Interest · 10,938 shares

Expires not disclosed

F2 · derivative.exercise_price: The RSUs will vest on January 23, 2019.

F2 · price: The RSUs will vest on January 23, 2019.

F2 · derivative.exercise_date: The RSUs will vest on January 23, 2019.

F2 · derivative.expiration_date: The RSUs will vest on January 23, 2019.

SEC source: 0000899243-18-009157 · doc4a.xml · derivative · entry 1

Gault Jeffrey M · CIK 0001420947 · Director · See Remarks

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 300,000

Underlying: Common Shares of Beneficial Interest · 300,000 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

F1 · price: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

F1 · derivative.exercise_date: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

F1 · derivative.expiration_date: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

SEC source: 0000899243-18-009150 · doc4a.xml · derivative · entry 2

MACKAY MICHELLE · CIK 0001581054 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,250

Underlying: Common Shares of Beneficial Interest · 6,250 shares

Expires not disclosed

F2 · derivative.exercise_price: The RSUs will vest on January 23, 2019.

F2 · price: The RSUs will vest on January 23, 2019.

F2 · derivative.exercise_date: The RSUs will vest on January 23, 2019.

F2 · derivative.expiration_date: The RSUs will vest on January 23, 2019.

SEC source: 0000899243-18-009150 · doc4a.xml · derivative · entry 1

MACKAY MICHELLE · CIK 0001581054 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,250

Underlying: Common Shares of Beneficial Interest · 6,250 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

F1 · price: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

F1 · derivative.exercise_date: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

F1 · derivative.expiration_date: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

SEC source: 0000899243-18-009148 · doc4a.xml · derivative · entry 2

ALBURGER GEORGE J JR · CIK 0001248361 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,250

Underlying: Common Shares of Beneficial Interest · 6,250 shares

Expires not disclosed

F2 · derivative.exercise_price: The RSUs will vest on January 23, 2019.

F2 · price: The RSUs will vest on January 23, 2019.

F2 · derivative.exercise_date: The RSUs will vest on January 23, 2019.

F2 · derivative.expiration_date: The RSUs will vest on January 23, 2019.

SEC source: 0000899243-18-009148 · doc4a.xml · derivative · entry 1

ALBURGER GEORGE J JR · CIK 0001248361 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,250

Underlying: Common Shares of Beneficial Interest · 6,250 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

F1 · price: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

F1 · derivative.exercise_date: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

F1 · derivative.expiration_date: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

SEC source: 0000899243-18-009146 · doc4a.xml · derivative · entry 3

Heistand James R · CIK 0001520993 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,250

Underlying: Common Shares of Beneficial Interest · 6,250 shares

Expires not disclosed

F2 · derivative.exercise_price: The RSUs will vest on January 23, 2019.

F2 · price: The RSUs will vest on January 23, 2019.

F2 · derivative.exercise_date: The RSUs will vest on January 23, 2019.

F2 · derivative.expiration_date: The RSUs will vest on January 23, 2019.

SEC source: 0000899243-18-009146 · doc4a.xml · derivative · entry 2

Heistand James R · CIK 0001520993 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,250

Underlying: Common Shares of Beneficial Interest · 6,250 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

F1 · price: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

F1 · derivative.exercise_date: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

F1 · derivative.expiration_date: Each restricted stock unit ("RSU") represents the right to acquire one common share of Americold Realty Trust. The RSUs will vest ratably on January 23, 2019, 2020 and 2021.

SEC source: 0000899243-18-009146 · doc4a.xml · nonDerivative · entry 1

Heistand James R · CIK 0001520993 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 31,250

SEC source: 0001140361-18-003289 · doc1.xml · derivative · entry 4

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000769993 · 10% owner

GS Capital Partners VI Parallel LP · CIK 0001386577 · 10% owner

GS Capital Partners VI Offshore Fund, L.P. · CIK 0001394285 · 10% owner · See footnotes (1), (2) and (3)

GSCP VI Offshore IceCap Investment, L.P. · CIK 0001728652 · 10% owner

GS Capital Partners VI Fund, L.P. · CIK 0001394287 · 10% owner

GS Capital Partners VI GmbH & Co KG · CIK 0001386557 · 10% owner

GSCP VI GmbH IceCap Investment, L.P. · CIK 0001728653 · 10% owner

Opportunity Partners Offshore-B Co-Invest AIV, L.P. · CIK 0001645919 · 10% owner

IceCap2 Holdings, L.P. · CIK 0001728650 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 0

Underlying: Common Shares · 28,808,224 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F5 · derivative.exercise_price: On January 23, 2018, in connection with the consummation of the initial public offering (the "IPO") of the Company, all of the 325,000 5.00% Series B Cumulative Convertible Voting Preferred Shares (the "Series B Preferred Shares") of the Company held by the GS Investors were converted (the "Conversion") into an aggregate of 28,808,224 Common Shares of the Company and the payment of cash in lieu of fractional shares.

F5 · price: On January 23, 2018, in connection with the consummation of the initial public offering (the "IPO") of the Company, all of the 325,000 5.00% Series B Cumulative Convertible Voting Preferred Shares (the "Series B Preferred Shares") of the Company held by the GS Investors were converted (the "Conversion") into an aggregate of 28,808,224 Common Shares of the Company and the payment of cash in lieu of fractional shares.

F5 · derivative.exercise_date: On January 23, 2018, in connection with the consummation of the initial public offering (the "IPO") of the Company, all of the 325,000 5.00% Series B Cumulative Convertible Voting Preferred Shares (the "Series B Preferred Shares") of the Company held by the GS Investors were converted (the "Conversion") into an aggregate of 28,808,224 Common Shares of the Company and the payment of cash in lieu of fractional shares.

F5 · derivative.expiration_date: On January 23, 2018, in connection with the consummation of the initial public offering (the "IPO") of the Company, all of the 325,000 5.00% Series B Cumulative Convertible Voting Preferred Shares (the "Series B Preferred Shares") of the Company held by the GS Investors were converted (the "Conversion") into an aggregate of 28,808,224 Common Shares of the Company and the payment of cash in lieu of fractional shares.

F1 · ownership.nature: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group"), Goldman Sachs & Co. LLC ("Goldman Sachs"), GS Capital Partners VI Parallel, L.P. ("GS Parallel"), GS Capital Partners VI Offshore Fund, L.P. ("GS Offshore"), GS Capital Partners VI Fund, L.P. ("GS Cap Partners VI"), GS Capital Partners VI GmbH & CO. KG ("GS Germany"), Opportunity Partners Offshore-B Co-Invest AIV, L.P. ("Opportunity Partners" and, together with GS Parallel, GS Offshore, GS Cap Partners VI and GS Germany, the "GS Funds"), GSCP VI Offshore IceCap Investment, L.P. ("GSCP Offshore IceCap Investment"), GSCP VI GmbH IceCap Investment, L.P. ("GSCP GmbH IceCap Investment"), IceCap2 Holdings, L.P. ("IceCap2 Holdings" and, together with GS Parallel, GSCP Offshore IceCap Investment, GS Cap Partners VI and GSCP GmbH IceCap Investment, the "GS Investors"), GS Advisors VI, L.L.C. ("GS Advisors VI"), (continued in Footnote 2)

F2 · ownership.nature: Goldman, Sachs Management GP GmbH ("GS GmbH"), GSCP VI Advisors, L.L.C. ("GSCP VI Advisors"), GSCP VI Offshore Advisors, L.L.C. ("GSCP VI Offshore Advisors") and Opportunity Partners Offshore-B Co-Invest AIV Advisors, Ltd. ("Opportunity Advisors" and, together with GS Group, Goldman Sachs, the GS Funds, GSCP Offshore IceCap Investment, GSCP GmbH IceCap Investment, IceCap2 Holdings, GS Advisors VI, GS GmbH, GSCP VI Advisors and GSCP VI Offshore Advisors, the "Reporting Persons").

F5 · ownership.nature: On January 23, 2018, in connection with the consummation of the initial public offering (the "IPO") of the Company, all of the 325,000 5.00% Series B Cumulative Convertible Voting Preferred Shares (the "Series B Preferred Shares") of the Company held by the GS Investors were converted (the "Conversion") into an aggregate of 28,808,224 Common Shares of the Company and the payment of cash in lieu of fractional shares.

F8 · ownership.nature: As of January 23, 2018, as a result of the Purchase, Goldman Sachs beneficially owns directly, and GS Group may be deemed to beneficially own indirectly, 125,000 Common Shares, and as a result of the Conversion, the IPO, and the Over-Allotment Option, both Goldman Sachs and GS Group may be deemed to beneficially own indirectly, in the aggregate, 23,644,508 Common Shares owned by the GS Investors because affiliates of Goldman Sachs and GS Group are the general partner, managing limited partner, managing general partner, managing partner, managing member or member of each of the GS Investors. Goldman Sachs is a subsidiary of GS Group. Goldman Sachs is the investment manager of certain of the GS Investors.

F9 · ownership.nature: As of January 23, 2018, as a result of the Conversion, the IPO and the Over-Allotment Option, GS Parallel beneficially owns directly 2,334,622 Common Shares, which may be deemed to be beneficially owned indirectly by GS Parallel's general partner, GS Advisors VI. GSCP Offshore IceCap Investment beneficially owns directly 7,061,705, which may be deemed to be beneficially owned indirectly by GS Offshore and indirectly by GS Offshore's general partner, GSCP VI Offshore Advisors. GS Cap Partners VI beneficially owns directly 8,489,979 Common Shares, which may be deemed to be beneficially owned indirectly by GS Cap Partners VI's general partner, GSCP VI Advisors. GSCP GmbH IceCap Investment beneficially owns directly 301,776, which may be deemed to be beneficially owned indirectly by GS Germany and indirectly by GS Germany's general partner, GS GmbH. (continued in Footnote 10)

F10 · ownership.nature: IceCap2 Holdings beneficially owns directly 5,456,426, which may be deemed to be beneficially owned indirectly by Opportunity Partners and indirectly by Opportunity Partner's general partner, Opportunity Advisors.

F11 · ownership.nature: The Reporting Persons disclaim beneficial ownership of all Common Shares in excess of their pecuniary interest, if any, and this report shall not be deemed an admission that any such person or entity is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

SEC source: 0001140361-18-003289 · doc1.xml · nonDerivative · entry 3

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000769993 · 10% owner

GS Capital Partners VI Parallel LP · CIK 0001386577 · 10% owner

GS Capital Partners VI Offshore Fund, L.P. · CIK 0001394285 · 10% owner · See footnotes (1), (2) and (3)

GSCP VI Offshore IceCap Investment, L.P. · CIK 0001728652 · 10% owner

GS Capital Partners VI Fund, L.P. · CIK 0001394287 · 10% owner

GS Capital Partners VI GmbH & Co KG · CIK 0001386557 · 10% owner

GSCP VI GmbH IceCap Investment, L.P. · CIK 0001728653 · 10% owner

Opportunity Partners Offshore-B Co-Invest AIV, L.P. · CIK 0001645919 · 10% owner

IceCap2 Holdings, L.P. · CIK 0001728650 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 23,769,508

F6 · shares: In connection with the IPO, pursuant to an underwriting agreement (the "Underwriting Agreement") and final prospectus, each dated January 18, 2018, the GS Investors as selling shareholders, sold 4,490,188 Common Shares at $14.904 per share, which represents the $16.00 IPO price per Common Share, less the underwriting discount of $1.096 per Common Share. The IPO closed on January 23, 2018.

F7 · shares: In connection with the IPO and pursuant to the Underwriting Agreement, the underwriters exercised their option (the "Over-Allotment Option") to purchase additional Common Shares from the selling shareholders. The Over-Allotment Option closed simultaneously with the IPO on January 23, 2018. The GS Investors sold an additional 673,528 Common Shares pursuant to the underwriters' exercise of the Over-Allotment Option.

F6 · price: In connection with the IPO, pursuant to an underwriting agreement (the "Underwriting Agreement") and final prospectus, each dated January 18, 2018, the GS Investors as selling shareholders, sold 4,490,188 Common Shares at $14.904 per share, which represents the $16.00 IPO price per Common Share, less the underwriting discount of $1.096 per Common Share. The IPO closed on January 23, 2018.

F1 · ownership.nature: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group"), Goldman Sachs & Co. LLC ("Goldman Sachs"), GS Capital Partners VI Parallel, L.P. ("GS Parallel"), GS Capital Partners VI Offshore Fund, L.P. ("GS Offshore"), GS Capital Partners VI Fund, L.P. ("GS Cap Partners VI"), GS Capital Partners VI GmbH & CO. KG ("GS Germany"), Opportunity Partners Offshore-B Co-Invest AIV, L.P. ("Opportunity Partners" and, together with GS Parallel, GS Offshore, GS Cap Partners VI and GS Germany, the "GS Funds"), GSCP VI Offshore IceCap Investment, L.P. ("GSCP Offshore IceCap Investment"), GSCP VI GmbH IceCap Investment, L.P. ("GSCP GmbH IceCap Investment"), IceCap2 Holdings, L.P. ("IceCap2 Holdings" and, together with GS Parallel, GSCP Offshore IceCap Investment, GS Cap Partners VI and GSCP GmbH IceCap Investment, the "GS Investors"), GS Advisors VI, L.L.C. ("GS Advisors VI"), (continued in Footnote 2)

F2 · ownership.nature: Goldman, Sachs Management GP GmbH ("GS GmbH"), GSCP VI Advisors, L.L.C. ("GSCP VI Advisors"), GSCP VI Offshore Advisors, L.L.C. ("GSCP VI Offshore Advisors") and Opportunity Partners Offshore-B Co-Invest AIV Advisors, Ltd. ("Opportunity Advisors" and, together with GS Group, Goldman Sachs, the GS Funds, GSCP Offshore IceCap Investment, GSCP GmbH IceCap Investment, IceCap2 Holdings, GS Advisors VI, GS GmbH, GSCP VI Advisors and GSCP VI Offshore Advisors, the "Reporting Persons").

F6 · ownership.nature: In connection with the IPO, pursuant to an underwriting agreement (the "Underwriting Agreement") and final prospectus, each dated January 18, 2018, the GS Investors as selling shareholders, sold 4,490,188 Common Shares at $14.904 per share, which represents the $16.00 IPO price per Common Share, less the underwriting discount of $1.096 per Common Share. The IPO closed on January 23, 2018.

F7 · ownership.nature: In connection with the IPO and pursuant to the Underwriting Agreement, the underwriters exercised their option (the "Over-Allotment Option") to purchase additional Common Shares from the selling shareholders. The Over-Allotment Option closed simultaneously with the IPO on January 23, 2018. The GS Investors sold an additional 673,528 Common Shares pursuant to the underwriters' exercise of the Over-Allotment Option.

F8 · ownership.nature: As of January 23, 2018, as a result of the Purchase, Goldman Sachs beneficially owns directly, and GS Group may be deemed to beneficially own indirectly, 125,000 Common Shares, and as a result of the Conversion, the IPO, and the Over-Allotment Option, both Goldman Sachs and GS Group may be deemed to beneficially own indirectly, in the aggregate, 23,644,508 Common Shares owned by the GS Investors because affiliates of Goldman Sachs and GS Group are the general partner, managing limited partner, managing general partner, managing partner, managing member or member of each of the GS Investors. Goldman Sachs is a subsidiary of GS Group. Goldman Sachs is the investment manager of certain of the GS Investors.

F9 · ownership.nature: As of January 23, 2018, as a result of the Conversion, the IPO and the Over-Allotment Option, GS Parallel beneficially owns directly 2,334,622 Common Shares, which may be deemed to be beneficially owned indirectly by GS Parallel's general partner, GS Advisors VI. GSCP Offshore IceCap Investment beneficially owns directly 7,061,705, which may be deemed to be beneficially owned indirectly by GS Offshore and indirectly by GS Offshore's general partner, GSCP VI Offshore Advisors. GS Cap Partners VI beneficially owns directly 8,489,979 Common Shares, which may be deemed to be beneficially owned indirectly by GS Cap Partners VI's general partner, GSCP VI Advisors. GSCP GmbH IceCap Investment beneficially owns directly 301,776, which may be deemed to be beneficially owned indirectly by GS Germany and indirectly by GS Germany's general partner, GS GmbH. (continued in Footnote 10)

F10 · ownership.nature: IceCap2 Holdings beneficially owns directly 5,456,426, which may be deemed to be beneficially owned indirectly by Opportunity Partners and indirectly by Opportunity Partner's general partner, Opportunity Advisors.

F11 · ownership.nature: The Reporting Persons disclaim beneficial ownership of all Common Shares in excess of their pecuniary interest, if any, and this report shall not be deemed an admission that any such person or entity is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

SEC source: 0001140361-18-003289 · doc1.xml · nonDerivative · entry 2

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000769993 · 10% owner

GS Capital Partners VI Parallel LP · CIK 0001386577 · 10% owner

GS Capital Partners VI Offshore Fund, L.P. · CIK 0001394285 · 10% owner · See footnotes (1), (2) and (3)

GSCP VI Offshore IceCap Investment, L.P. · CIK 0001728652 · 10% owner

GS Capital Partners VI Fund, L.P. · CIK 0001394287 · 10% owner

GS Capital Partners VI GmbH & Co KG · CIK 0001386557 · 10% owner

GSCP VI GmbH IceCap Investment, L.P. · CIK 0001728653 · 10% owner

Opportunity Partners Offshore-B Co-Invest AIV, L.P. · CIK 0001645919 · 10% owner

IceCap2 Holdings, L.P. · CIK 0001728650 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 28,933,224

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F5 · price: On January 23, 2018, in connection with the consummation of the initial public offering (the "IPO") of the Company, all of the 325,000 5.00% Series B Cumulative Convertible Voting Preferred Shares (the "Series B Preferred Shares") of the Company held by the GS Investors were converted (the "Conversion") into an aggregate of 28,808,224 Common Shares of the Company and the payment of cash in lieu of fractional shares.

F1 · ownership.nature: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group"), Goldman Sachs & Co. LLC ("Goldman Sachs"), GS Capital Partners VI Parallel, L.P. ("GS Parallel"), GS Capital Partners VI Offshore Fund, L.P. ("GS Offshore"), GS Capital Partners VI Fund, L.P. ("GS Cap Partners VI"), GS Capital Partners VI GmbH & CO. KG ("GS Germany"), Opportunity Partners Offshore-B Co-Invest AIV, L.P. ("Opportunity Partners" and, together with GS Parallel, GS Offshore, GS Cap Partners VI and GS Germany, the "GS Funds"), GSCP VI Offshore IceCap Investment, L.P. ("GSCP Offshore IceCap Investment"), GSCP VI GmbH IceCap Investment, L.P. ("GSCP GmbH IceCap Investment"), IceCap2 Holdings, L.P. ("IceCap2 Holdings" and, together with GS Parallel, GSCP Offshore IceCap Investment, GS Cap Partners VI and GSCP GmbH IceCap Investment, the "GS Investors"), GS Advisors VI, L.L.C. ("GS Advisors VI"), (continued in Footnote 2)

F2 · ownership.nature: Goldman, Sachs Management GP GmbH ("GS GmbH"), GSCP VI Advisors, L.L.C. ("GSCP VI Advisors"), GSCP VI Offshore Advisors, L.L.C. ("GSCP VI Offshore Advisors") and Opportunity Partners Offshore-B Co-Invest AIV Advisors, Ltd. ("Opportunity Advisors" and, together with GS Group, Goldman Sachs, the GS Funds, GSCP Offshore IceCap Investment, GSCP GmbH IceCap Investment, IceCap2 Holdings, GS Advisors VI, GS GmbH, GSCP VI Advisors and GSCP VI Offshore Advisors, the "Reporting Persons").

F5 · ownership.nature: On January 23, 2018, in connection with the consummation of the initial public offering (the "IPO") of the Company, all of the 325,000 5.00% Series B Cumulative Convertible Voting Preferred Shares (the "Series B Preferred Shares") of the Company held by the GS Investors were converted (the "Conversion") into an aggregate of 28,808,224 Common Shares of the Company and the payment of cash in lieu of fractional shares.

F8 · ownership.nature: As of January 23, 2018, as a result of the Purchase, Goldman Sachs beneficially owns directly, and GS Group may be deemed to beneficially own indirectly, 125,000 Common Shares, and as a result of the Conversion, the IPO, and the Over-Allotment Option, both Goldman Sachs and GS Group may be deemed to beneficially own indirectly, in the aggregate, 23,644,508 Common Shares owned by the GS Investors because affiliates of Goldman Sachs and GS Group are the general partner, managing limited partner, managing general partner, managing partner, managing member or member of each of the GS Investors. Goldman Sachs is a subsidiary of GS Group. Goldman Sachs is the investment manager of certain of the GS Investors.

F9 · ownership.nature: As of January 23, 2018, as a result of the Conversion, the IPO and the Over-Allotment Option, GS Parallel beneficially owns directly 2,334,622 Common Shares, which may be deemed to be beneficially owned indirectly by GS Parallel's general partner, GS Advisors VI. GSCP Offshore IceCap Investment beneficially owns directly 7,061,705, which may be deemed to be beneficially owned indirectly by GS Offshore and indirectly by GS Offshore's general partner, GSCP VI Offshore Advisors. GS Cap Partners VI beneficially owns directly 8,489,979 Common Shares, which may be deemed to be beneficially owned indirectly by GS Cap Partners VI's general partner, GSCP VI Advisors. GSCP GmbH IceCap Investment beneficially owns directly 301,776, which may be deemed to be beneficially owned indirectly by GS Germany and indirectly by GS Germany's general partner, GS GmbH. (continued in Footnote 10)

F10 · ownership.nature: IceCap2 Holdings beneficially owns directly 5,456,426, which may be deemed to be beneficially owned indirectly by Opportunity Partners and indirectly by Opportunity Partner's general partner, Opportunity Advisors.

F11 · ownership.nature: The Reporting Persons disclaim beneficial ownership of all Common Shares in excess of their pecuniary interest, if any, and this report shall not be deemed an admission that any such person or entity is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

SEC source: 0001140361-18-003293 · doc1.xml · nonDerivative · entry 1

Gross Bradley J. · CIK 0001447253 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 125,000

F2 · shares: On January 19, 2018, 125,000 of the common shares, par value $0.01 per share (the "Common Shares"), of Americold Realty Trust (the "Company") reported herein as indirectly purchased (the "Purchase") were beneficially owned directly by Goldman Sachs and indirectly by GS Group.

F3 · price: Reflects a weighted average purchase price of $17.40 per share, at prices ranging from $17.14 to $17.50 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Company, or a security holder of the Company, full information regarding the number of shares purchased at each separate price.

F1 · ownership.nature: The Reporting Person is a managing director of Goldman Sachs & Co. LLC ("Goldman Sachs"). Goldman Sachs is a subsidiary of The Goldman Sachs Group, Inc. ("GS Group"). The Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

F2 · ownership.nature: On January 19, 2018, 125,000 of the common shares, par value $0.01 per share (the "Common Shares"), of Americold Realty Trust (the "Company") reported herein as indirectly purchased (the "Purchase") were beneficially owned directly by Goldman Sachs and indirectly by GS Group.

F3 · ownership.nature: Reflects a weighted average purchase price of $17.40 per share, at prices ranging from $17.14 to $17.50 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Company, or a security holder of the Company, full information regarding the number of shares purchased at each separate price.

F7 · ownership.nature: As of January 23, 2018, as a result of the Purchase, Goldman Sachs beneficially owns directly, and GS Group may be deemed to beneficially own indirectly, 125,000 Common Shares, and as a result of the Conversion, the IPO, and the Over-Allotment Option, both Goldman Sachs and GS Group may be deemed to beneficially own indirectly, in the aggregate, 23,644,508 Common Shares owned by the GS Investors because affiliates of Goldman Sachs and GS Group are the general partner, managing limited partner, managing general partner, managing partner, managing member or member of each of the GS Investors. Goldman Sachs is a subsidiary of GS Group. Goldman Sachs is the investment manager of certain of the GS Investors.

SEC source: 0001140361-18-003290 · doc1.xml · nonDerivative · entry 1

GS Advisors VI, L.L.C. · CIK 0001394288 · 10% owner

GSCP VI Offshore Advisors, L.L.C. · CIK 0001394278 · 10% owner

GSCP VI Advisors, L.L.C. · CIK 0001394286 · 10% owner

GOLDMAN, SACHS MANAGEMENT GP GMBH · CIK 0001232073 · 10% owner

Opportunity Partners Offshore-B Co-Invest AIV Advisors, Ltd. · CIK 0001646000 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 125,000

F3 · shares: On January 19, 2018, 125,000 of the common shares, par value $0.01 per share (the "Common Shares"), of Americold Realty Trust (the "Company") reported herein as indirectly purchased (the "Purchase") were beneficially owned directly by Goldman Sachs and indirectly by GS Group.

F4 · price: Reflects a weighted average purchase price of $17.40 per share, at prices ranging from $17.14 to $17.50 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Company, or a security holder of the Company, full information regarding the number of shares purchased at each separate price.

F1 · ownership.nature: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group"), Goldman Sachs & Co. LLC ("Goldman Sachs"), GS Capital Partners VI Parallel, L.P. ("GS Parallel"), GS Capital Partners VI Offshore Fund, L.P. ("GS Offshore"), GS Capital Partners VI Fund, L.P. ("GS Cap Partners VI"), GS Capital Partners VI GmbH & CO. KG ("GS Germany"), Opportunity Partners Offshore-B Co-Invest AIV, L.P. ("Opportunity Partners" and, together with GS Parallel, GS Offshore, GS Cap Partners VI and GS Germany, the "GS Funds"), GSCP VI Offshore IceCap Investment, L.P. ("GSCP Offshore IceCap Investment"), GSCP VI GmbH IceCap Investment, L.P. ("GSCP GmbH IceCap Investment"), IceCap2 Holdings, L.P. ("IceCap2 Holdings" and, together with GS Parallel, GSCP Offshore IceCap Investment, GS Cap Partners VI and GSCP GmbH IceCap Investment, the "GS Investors"), GS Advisors VI, L.L.C. ("GS Advisors VI"), (continued in Footnote 2)

F2 · ownership.nature: Goldman, Sachs Management GP GmbH ("GS GmbH"), GSCP VI Advisors, L.L.C. ("GSCP VI Advisors"), GSCP VI Offshore Advisors, L.L.C. ("GSCP VI Offshore Advisors") and Opportunity Partners Offshore-B Co-Invest AIV Advisors, Ltd. ("Opportunity Advisors" and, together with GS Group, Goldman Sachs, the GS Funds, GSCP Offshore IceCap Investment, GSCP GmbH IceCap Investment, IceCap2 Holdings, GS Advisors VI, GS GmbH, GSCP VI Advisors and GSCP VI Offshore Advisors, the "Reporting Persons").

F3 · ownership.nature: On January 19, 2018, 125,000 of the common shares, par value $0.01 per share (the "Common Shares"), of Americold Realty Trust (the "Company") reported herein as indirectly purchased (the "Purchase") were beneficially owned directly by Goldman Sachs and indirectly by GS Group.

F4 · ownership.nature: Reflects a weighted average purchase price of $17.40 per share, at prices ranging from $17.14 to $17.50 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Company, or a security holder of the Company, full information regarding the number of shares purchased at each separate price.

F8 · ownership.nature: As of January 23, 2018, as a result of the Purchase, Goldman Sachs beneficially owns directly, and GS Group may be deemed to beneficially own indirectly, 125,000 Common Shares, and as a result of the Conversion, the IPO, and the Over-Allotment Option, both Goldman Sachs and GS Group may be deemed to beneficially own indirectly, in the aggregate, 23,644,508 Common Shares owned by the GS Investors because affiliates of Goldman Sachs and GS Group are the general partner, managing limited partner, managing general partner, managing partner, managing member or member of each of the GS Investors. Goldman Sachs is a subsidiary of GS Group. Goldman Sachs is the investment manager of certain of the GS Investors.

F9 · ownership.nature: As of January 23, 2018, as a result of the Conversion, the IPO and the Over-Allotment Option, GS Parallel beneficially owns directly 2,334,622 Common Shares, which may be deemed to be beneficially owned indirectly by GS Parallel's general partner, GS Advisors VI. GSCP Offshore IceCap Investment beneficially owns directly 7,061,705, which may be deemed to be beneficially owned indirectly by GS Offshore and indirectly by GS Offshore's general partner, GSCP VI Offshore Advisors. GS Cap Partners VI beneficially owns directly 8,489,979 Common Shares, which may be deemed to be beneficially owned indirectly by GS Cap Partners VI's general partner, GSCP VI Advisors. GSCP GmbH IceCap Investment beneficially owns directly 301,776, which may be deemed to be beneficially owned indirectly by GS Germany and indirectly by GS Germany's general partner, GS GmbH. (continued in Footnote 10)

F10 · ownership.nature: IceCap2 Holdings beneficially owns directly 5,456,426, which may be deemed to be beneficially owned indirectly by Opportunity Partners and indirectly by Opportunity Partner's general partner, Opportunity Advisors.

F11 · ownership.nature: The Reporting Persons disclaim beneficial ownership of all Common Shares in excess of their pecuniary interest, if any, and this report shall not be deemed an admission that any such person or entity is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

SEC source: 0001140361-18-003289 · doc1.xml · nonDerivative · entry 1

GOLDMAN SACHS GROUP INC · CIK 0000886982 · 10% owner

GOLDMAN SACHS & CO. LLC · CIK 0000769993 · 10% owner

GS Capital Partners VI Parallel LP · CIK 0001386577 · 10% owner

GS Capital Partners VI Offshore Fund, L.P. · CIK 0001394285 · 10% owner · See footnotes (1), (2) and (3)

GSCP VI Offshore IceCap Investment, L.P. · CIK 0001728652 · 10% owner

GS Capital Partners VI Fund, L.P. · CIK 0001394287 · 10% owner

GS Capital Partners VI GmbH & Co KG · CIK 0001386557 · 10% owner

GSCP VI GmbH IceCap Investment, L.P. · CIK 0001728653 · 10% owner

Opportunity Partners Offshore-B Co-Invest AIV, L.P. · CIK 0001645919 · 10% owner

IceCap2 Holdings, L.P. · CIK 0001728650 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnotes

Disclosed balance after: 125,000

F3 · shares: On January 19, 2018, 125,000 of the common shares, par value $0.01 per share (the "Common Shares"), of Americold Realty Trust (the "Company") reported herein as indirectly purchased (the "Purchase") were beneficially owned directly by Goldman Sachs and indirectly by GS Group.

F4 · price: Reflects a weighted average purchase price of $17.40 per share, at prices ranging from $17.14 to $17.50 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Company, or a security holder of the Company, full information regarding the number of shares purchased at each separate price.

F1 · ownership.nature: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group"), Goldman Sachs & Co. LLC ("Goldman Sachs"), GS Capital Partners VI Parallel, L.P. ("GS Parallel"), GS Capital Partners VI Offshore Fund, L.P. ("GS Offshore"), GS Capital Partners VI Fund, L.P. ("GS Cap Partners VI"), GS Capital Partners VI GmbH & CO. KG ("GS Germany"), Opportunity Partners Offshore-B Co-Invest AIV, L.P. ("Opportunity Partners" and, together with GS Parallel, GS Offshore, GS Cap Partners VI and GS Germany, the "GS Funds"), GSCP VI Offshore IceCap Investment, L.P. ("GSCP Offshore IceCap Investment"), GSCP VI GmbH IceCap Investment, L.P. ("GSCP GmbH IceCap Investment"), IceCap2 Holdings, L.P. ("IceCap2 Holdings" and, together with GS Parallel, GSCP Offshore IceCap Investment, GS Cap Partners VI and GSCP GmbH IceCap Investment, the "GS Investors"), GS Advisors VI, L.L.C. ("GS Advisors VI"), (continued in Footnote 2)

F2 · ownership.nature: Goldman, Sachs Management GP GmbH ("GS GmbH"), GSCP VI Advisors, L.L.C. ("GSCP VI Advisors"), GSCP VI Offshore Advisors, L.L.C. ("GSCP VI Offshore Advisors") and Opportunity Partners Offshore-B Co-Invest AIV Advisors, Ltd. ("Opportunity Advisors" and, together with GS Group, Goldman Sachs, the GS Funds, GSCP Offshore IceCap Investment, GSCP GmbH IceCap Investment, IceCap2 Holdings, GS Advisors VI, GS GmbH, GSCP VI Advisors and GSCP VI Offshore Advisors, the "Reporting Persons").

F3 · ownership.nature: On January 19, 2018, 125,000 of the common shares, par value $0.01 per share (the "Common Shares"), of Americold Realty Trust (the "Company") reported herein as indirectly purchased (the "Purchase") were beneficially owned directly by Goldman Sachs and indirectly by GS Group.

F4 · ownership.nature: Reflects a weighted average purchase price of $17.40 per share, at prices ranging from $17.14 to $17.50 per share. The Reporting Person will provide, upon request by the staff of the Securities and Exchange Commission, the Company, or a security holder of the Company, full information regarding the number of shares purchased at each separate price.

F8 · ownership.nature: As of January 23, 2018, as a result of the Purchase, Goldman Sachs beneficially owns directly, and GS Group may be deemed to beneficially own indirectly, 125,000 Common Shares, and as a result of the Conversion, the IPO, and the Over-Allotment Option, both Goldman Sachs and GS Group may be deemed to beneficially own indirectly, in the aggregate, 23,644,508 Common Shares owned by the GS Investors because affiliates of Goldman Sachs and GS Group are the general partner, managing limited partner, managing general partner, managing partner, managing member or member of each of the GS Investors. Goldman Sachs is a subsidiary of GS Group. Goldman Sachs is the investment manager of certain of the GS Investors.

F9 · ownership.nature: As of January 23, 2018, as a result of the Conversion, the IPO and the Over-Allotment Option, GS Parallel beneficially owns directly 2,334,622 Common Shares, which may be deemed to be beneficially owned indirectly by GS Parallel's general partner, GS Advisors VI. GSCP Offshore IceCap Investment beneficially owns directly 7,061,705, which may be deemed to be beneficially owned indirectly by GS Offshore and indirectly by GS Offshore's general partner, GSCP VI Offshore Advisors. GS Cap Partners VI beneficially owns directly 8,489,979 Common Shares, which may be deemed to be beneficially owned indirectly by GS Cap Partners VI's general partner, GSCP VI Advisors. GSCP GmbH IceCap Investment beneficially owns directly 301,776, which may be deemed to be beneficially owned indirectly by GS Germany and indirectly by GS Germany's general partner, GS GmbH. (continued in Footnote 10)

F10 · ownership.nature: IceCap2 Holdings beneficially owns directly 5,456,426, which may be deemed to be beneficially owned indirectly by Opportunity Partners and indirectly by Opportunity Partner's general partner, Opportunity Advisors.

F11 · ownership.nature: The Reporting Persons disclaim beneficial ownership of all Common Shares in excess of their pecuniary interest, if any, and this report shall not be deemed an admission that any such person or entity is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.