Transaction Details

Footnotes

This transaction was effected pursuant to a 10b5-1 trading plan adopted on February 13, 2025 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 May 15, 2025 in multiple transactions at prices ranging from $168.10 to $169.09. 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 and 6. | The price reported in Column 4 is a weighted average price. These shares were sold on May 15, 2025 in multiple transactions at prices ranging from $169.10 to $170.09. | The price reported in Column 4 is a weighted average price. These shares were sold on May 15, 2025 in multiple transactions at prices ranging from $170.10 to $170.95. | The price reported in Column 4 is a weighted average price. These shares were sold on May 15, 2025 in multiple transactions at prices ranging from $171.11 to $171.93. | The price reported in Column 4 is a weighted average price. These shares were sold on May 15, 2025 in multiple transactions at prices ranging from $173.12 to $173.21. | 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 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. | 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. | The reporting person or a vehicle controlled by him is a limited partner in 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.