Returns Summary as of March 31, 20191
Trailing Three Months
Since Inception2
Since Inception2
Class T Share Return at NAV3
1.16% 5.18% 7.16% 5.02%
Class T Share with Sales Charge (Net)4
-3.39% 0.45% 2.33% 1.65%
 Class W Share Return at NAV
1.29% N/A 4.37% N/A
 Class I Share Return at NAV
1.41% 6.22% 8.66% 6.06%

1 Performance is measured by total return, which includes income and appreciation. Total return represents the compound annual rate of return assuming reinvestment of all distributions pursuant to Black Creek Industrial REIT IV Inc.’s (BCI IV) distribution reinvestment plan. Past performance is not a guarantee of future results. Performance data quoted above is historical. Current performance may be higher or lower than the performance data quoted.
2 Inception is the date shares of BCI IV’s common stock were first issued to third-party investors in its initial public offering. Class T Shares and Class I Shares inception date is November 1, 2017. Class W Shares inception date is July 2, 2018.
3 The “Class T Share Return at NAV” does not include maximum up front selling commissions at initial subscription.
4 The “Class T Share with Sales Charges” was calculated assuming the maximum up front selling commission, dealer manager fees and ongoing distribution fees in effect during the time period indicated.