ARES · Ares Management Corp

Consists of Class A Common Stock withheld by the Issuer in order to satisfy the minimum tax withholding obligations of the reporting person arising in connection with the vesting of restricted units under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting.

Includes 245,003 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

Consists of Class A Common Stock withheld by the Issuer in order to satisfy the minimum tax withholding obligations of the reporting person arising in connection with the vesting of restricted units under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting.

Includes 987,500 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

Consists of Class A Common Stock withheld by the Issuer in order to satisfy the minimum tax withholding obligations of the reporting person arising in connection with the vesting of restricted units under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting.

Includes 1,137,500 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

Represents the number of shares of Class A Common Stock which were donated to a charity by the Reporting Person on June 3, 2026.

Includes 621,860 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

Includes 1,166 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

The price reported in Column 4 is a weighted average price. These shares were purchased on February 6, 2026 in multiple transactions at prices ranging from $126.11 to $127.07. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

Includes 1,166 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on June 11, 2025 by the reporting person.

The price reported in Column 4 is a weighted average price. These shares were sold on February 4, 2026 in multiple transactions at prices ranging from $133.47 to $134.27.

Includes 204,872 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on June 11, 2025 by the reporting person.

Includes 204,872 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on June 11, 2025 by the reporting person.

The price reported in Column 4 is a weighted average price. These shares were sold on February 4, 2026 in multiple transactions at prices ranging from $136.45 to $137.25.

Includes 204,872 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on June 11, 2025 by the reporting person.

The price reported in Column 4 is a weighted average price. These shares were sold on February 4, 2026 in multiple transactions at prices ranging from $126.41 to $127.21. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote and footnotes 4, 5, 6, 7 and 8.

Includes 204,872 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on June 11, 2025 by the reporting person.

The price reported in Column 4 is a weighted average price. These shares were sold on February 4, 2026 in multiple transactions at prices ranging from $137.45 to $138.07.

Includes 204,872 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on June 11, 2025 by the reporting person.

The price reported in Column 4 is a weighted average price. These shares were sold on February 4, 2026 in multiple transactions at prices ranging from $128.65 to $129.60.

Includes 204,872 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on June 11, 2025 by the reporting person.

The price reported in Column 4 is a weighted average price. These shares were sold on February 4, 2026 in multiple transactions at prices ranging from $134.78 to $135.76.

Includes 204,872 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

Granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restrictions on such units are scheduled to lapse in four equal installments on January 31, 2028, 2029, 2030 and 2031.

Includes 280,003 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

Granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restrictions on such units are scheduled to lapse in three equal installments on June 30, 2027, 2028 and 2029.

Represents 1,350,000 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

Granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restrictions on such units are scheduled to lapse in four equal installments on January 31, 2028, 2029, 2030 and 2031.

Includes 721,860 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

Consists of Class A Common Stock withheld by the Issuer in order to satisfy the minimum tax withholding obligations of the reporting person arising in connection with the vesting of restricted units representing the right to receive one share of Class A Common Stock under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting.

Includes 250,003 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

Granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restrictions on such units are scheduled to lapse in four equal installments on January 31, 2028, 2029, 2030 and 2031.

Includes 254,872 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

Consists of Class A Common Stock withheld by the Issuer in order to satisfy the minimum tax withholding obligations of the reporting person arising in connection with the vesting of restricted units representing the right to receive one share of Class A Common Stock under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting.

Includes 204,872 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

Consists of Class A Common Stock withheld by the Issuer in order to satisfy the minimum tax withholding obligations of the reporting person arising in connection with the vesting of restricted units representing the right to receive one share of Class A Common Stock under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting.

Includes 1,300,000 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

Consists of Class A Common Stock withheld by the Issuer in order to satisfy the minimum tax withholding obligations of the reporting person arising in connection with the vesting of restricted units representing the right to receive one share of Class A Common Stock under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting.

Includes 1,150,000 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

Granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restrictions on such units are scheduled to lapse in three equal installments on June 30, 2027, 2028 and 2029.

Represents 1,600,000 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

Consists of Class A Common Stock withheld by the Issuer in order to satisfy the minimum tax withholding obligations of the reporting person arising in connection with the vesting of restricted units representing the right to receive one share of Class A Common Stock under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting.

Includes 621,860 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on June 11, 2025 by the reporting person.

The price reported in Column 4 is a weighted average price. These shares were sold on January 22, 2026 in multiple transactions at prices ranging from $162.16 to $162.57.

Includes 154,872 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on June 11, 2025 by the reporting person.

The price reported in Column 4 is a weighted average price. These shares were sold on January 22, 2026 in multiple transactions at prices ranging from $160.92 to $161.89. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote and footnotes 4 and 5.

Includes 154,872 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on June 11, 2025 by the reporting person.

The price reported in Column 4 is a weighted average price. These shares were sold on January 22, 2026 in multiple transactions at prices ranging from $163.57 to $164.31.

Includes 154,872 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

Consists of Class A Common Stock withheld by the Issuer in order to satisfy the minimum tax withholding obligations of the reporting person arising in connection with the vesting of restricted units representing the right to receive one share of Class A Common Stock under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting.

Includes 180,003 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

Granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restrictions on such units are scheduled to lapse in three equal installments on January 20, 2027, 2028 and 2029.

Includes 183,119 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

Granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restrictions on such units are scheduled to lapse in three equal installments on January 20, 2027, 2028 and 2029.

Includes 157,810 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

Consists of Class A Common Stock withheld by the Issuer in order to satisfy the minimum tax withholding obligations of the reporting person arising in connection with the vesting of restricted units representing the right to receive one share of Class A Common Stock under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting.

Includes 154,872 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

Consists of Class A Common Stock withheld by the Issuer in order to satisfy the minimum tax withholding obligations of the reporting person arising in connection with the vesting of restricted units representing the right to receive one share of Class A Common Stock under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting.

Includes 421,860 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

Pursuant to the terms of the Sixth Amended and Restated Exchange Agreement (the "Exchange Agreement"), dated as of May 8, 2025, among Ares Management Corporation, Ares Holdings L.P. and each Ares Operating Group Limited Partner (as defined in the Exchange Agreement), and subject to certain requirements and restrictions, the partnership units of the Ares Operating Group ("AOG Units") are exchangeable for shares of Class A Common Stock on a one-for-one basis.

Represents the number of AOG Units which were donated to a charity by the Reporting Person on December 18, 2025.

The reporting person or a vehicle controlled by him is a limited partner in Ares Owners Holdings L.P. ("AOH"), the direct holder of the shares of AOG Units. The AOG Units indirectly held by the reporting person are the number of AOG Units that he has a right to receive as a limited partner in AOH.

Represents the number of shares of Class A Common Stock previously held by Ares Owners Holdings L.P ("AOH") on behalf of the reporting person or a vehicle controlled by him, which were gifted on December 16, 2025 to a charitable foundation of which the reporting person is a trustee.

The reporting person or a vehicle controlled by him is a limited partner in AOH, the direct holder of the shares of Class A Common Stock. The shares of Class A Common Stock indirectly held by the reporting person or the vehicle are the number of shares of Class A Common Stock that he or the vehicle has a right to receive as a limited partner in AOH.

Represents the number of shares of Class A Common Stock previously held by Ares Owners Holdings L.P ("AOH") on behalf of the reporting person or a vehicle controlled by him, which were gifted on December 16, 2025 to a charitable foundation of which the reporting person is a director.

The reporting person or a vehicle controlled by him is a limited partner in AOH, the direct holder of the shares of Class A Common Stock. The shares of Class A Common Stock indirectly held by the reporting person or the vehicle are the number of shares of Class A Common Stock that he or the vehicle has a right to receive as a limited partner in AOH.

Represents the number of shares of Class A Common Stock which were donated to a charity by the Reporting Person on December 9, 2025.

Includes 155,098 restricted units granted under an equity incentive plan of Ares Management Corporation. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on December 13, 2024 by the reporting person, or a vehicle controlled by him.

The price reported in Column 4 is a weighted average price. These shares were sold on December 1, 2025 in multiple transactions at prices ranging from $156.89 to $157.86.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on December 13, 2024 by the reporting person, or a vehicle controlled by him.

The price reported in Column 4 is a weighted average price. These shares were sold on December 1, 2025 in multiple transactions at prices ranging from $157.90 to $158.89.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on December 13, 2024 by the reporting person, or a vehicle controlled by him.

The price reported in Column 4 is a weighted average price. These shares were sold on December 1, 2025 in multiple transactions at prices ranging from $153.83 to $154.53.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on December 13, 2024 by the reporting person, or a vehicle controlled by him.

The price reported in Column 4 is a weighted average price. These shares were sold on December 1, 2025 in multiple transactions at prices ranging from $155.01 to $155.75.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on December 13, 2024 by the reporting person, or a vehicle controlled by him.

The price reported in Column 4 is a weighted average price. These shares were sold on December 1, 2025 in multiple transactions at prices ranging from $158.90 to $158.99.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on December 13, 2024 by the reporting person, or a vehicle controlled by him.

The price reported in Column 4 is a weighted average price. These shares were sold on December 1, 2025 in multiple transactions at prices ranging from $152.83 to $153.81.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on December 13, 2024 by the reporting person, or a vehicle controlled by him.

The price reported in Column 4 is a weighted average price. These shares were sold on November 28, 2025 in multiple transactions at prices ranging from $155.26 to $156.25.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on December 13, 2024 by the reporting person, or a vehicle controlled by him.

The price reported in Column 4 is a weighted average price. These shares were sold on November 28, 2025 in multiple transactions at prices ranging from $156.26 to $157.11.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on December 13, 2024 by the reporting person, or a vehicle controlled by him.

The price reported in Column 4 is a weighted average price. These shares were sold on November 28, 2025 in multiple transactions at prices ranging from $154.26 to $155.21.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on December 13, 2024 by the reporting person, or a vehicle controlled by him.

The price reported in Column 4 is a weighted average price. These shares were sold on November 26, 2025 in multiple transactions at prices ranging from $152.12 to $153.10. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote and footnotes 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13 and 14.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on December 13, 2024 by the reporting person, or a vehicle controlled by him.

The price reported in Column 4 is a weighted average price. These shares were sold on November 26, 2025 in multiple transactions at prices ranging from $155.12 to $155.21.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on December 13, 2024 by the reporting person, or a vehicle controlled by him.

The price reported in Column 4 is a weighted average price. These shares were sold on November 26, 2025 in multiple transactions at prices ranging from $153.12 to $154.11.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on December 13, 2024 by the reporting person, or a vehicle controlled by him.

The price reported in Column 4 is a weighted average price. These shares were sold on November 26, 2025 in multiple transactions at prices ranging from $154.12 to $155.11.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on December 13, 2024 by the reporting person, or a vehicle controlled by him.

The price reported in Column 4 is a weighted average price. These shares were sold on November 25, 2025 in multiple transactions at prices ranging from $153.07 to $153.76.

This transaction was effected pursuant to a 10b5-1 trading plan adopted on December 13, 2024 by the reporting person, or a vehicle controlled by him.

The price reported in Column 4 is a weighted average price. These shares were sold on November 25, 2025 in multiple transactions at prices ranging from $150.02 to $150.96.