ARES

SEC source: 0001628280-20-009299 · wf-form4_159192508458549.xml · derivative · entry 3

deVeer R. Kipp · CIK 0001576312 · Director · Head of Credit Group

10b5-1 filing: Not disclosed

Ownership: Indirect · By Ares Owners Holdings L.P.

Disclosed balance after: 1,810,409

Underlying: Class A Common Stock · 350,189 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: Pursuant to the terms of the Third Amended and Restated Exchange Agreement, dated as of May 4, 2018, among Ares Holdings Inc., Ares Holdco LLC, Ares Holdings L.P., AI Holdco LLC, Ares Investments L.P., Ares AI Holdings L.P., Ares Management Corporation, Ares Management GP LLC, Ares Offshore Holdings L.P., AOF Holdco LLC, Ares Offshore Holdings, Ltd., and each Ares Operating Group Limited Partner (as defined in the exchange agreement), and subject to certain requirements and restrictions, (Continued in footnote 4)

F5 · derivative.exercise_price: 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, subject to the following transfer restrictions: up to 20% of the shares of Class A Common Stock may be transferred in each of the subsequent five years after May 7, 2016.

F4 · price: Pursuant to the terms of the Third Amended and Restated Exchange Agreement, dated as of May 4, 2018, among Ares Holdings Inc., Ares Holdco LLC, Ares Holdings L.P., AI Holdco LLC, Ares Investments L.P., Ares AI Holdings L.P., Ares Management Corporation, Ares Management GP LLC, Ares Offshore Holdings L.P., AOF Holdco LLC, Ares Offshore Holdings, Ltd., and each Ares Operating Group Limited Partner (as defined in the exchange agreement), and subject to certain requirements and restrictions, (Continued in footnote 4)

F5 · price: 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, subject to the following transfer restrictions: up to 20% of the shares of Class A Common Stock may be transferred in each of the subsequent five years after May 7, 2016.

F4 · derivative.exercise_date: Pursuant to the terms of the Third Amended and Restated Exchange Agreement, dated as of May 4, 2018, among Ares Holdings Inc., Ares Holdco LLC, Ares Holdings L.P., AI Holdco LLC, Ares Investments L.P., Ares AI Holdings L.P., Ares Management Corporation, Ares Management GP LLC, Ares Offshore Holdings L.P., AOF Holdco LLC, Ares Offshore Holdings, Ltd., and each Ares Operating Group Limited Partner (as defined in the exchange agreement), and subject to certain requirements and restrictions, (Continued in footnote 4)

F5 · derivative.exercise_date: 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, subject to the following transfer restrictions: up to 20% of the shares of Class A Common Stock may be transferred in each of the subsequent five years after May 7, 2016.

F4 · derivative.expiration_date: Pursuant to the terms of the Third Amended and Restated Exchange Agreement, dated as of May 4, 2018, among Ares Holdings Inc., Ares Holdco LLC, Ares Holdings L.P., AI Holdco LLC, Ares Investments L.P., Ares AI Holdings L.P., Ares Management Corporation, Ares Management GP LLC, Ares Offshore Holdings L.P., AOF Holdco LLC, Ares Offshore Holdings, Ltd., and each Ares Operating Group Limited Partner (as defined in the exchange agreement), and subject to certain requirements and restrictions, (Continued in footnote 4)

F5 · derivative.expiration_date: 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, subject to the following transfer restrictions: up to 20% of the shares of Class A Common Stock may be transferred in each of the subsequent five years after May 7, 2016.

F6 · ownership.nature: The reporting person 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.

SEC source: 0001628280-20-009299 · wf-form4_159192508458549.xml · nonDerivative · entry 2

deVeer R. Kipp · CIK 0001576312 · Director · Head of Credit Group

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,223,903

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.

F3 · balance_after: Includes 676,672 restricted units granted under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan. 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 amount additionally includes 350,189 shares of Class A Common Stock held by Ares Owners Holdings L.P. ("AOH") on behalf of the reporting person, which were transferred to the reporting person.

SEC source: 0001628280-20-009298 · wf-form4_159192503702539.xml · nonDerivative · entry 1

RESSLER ANTONY P · CIK 0001025978 · Director · C-Founder & Exec. Chairman · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By TJ Capital Investors, LLC

Disclosed balance after: 1,638,902

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold on June 9, 2020 in multiple transactions at prices ranging from $39.02 to $40.01. 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 range set forth in this footnote and footnotes 3, 4 and 5.

SEC source: 0001628280-20-009299 · wf-form4_159192508458549.xml · nonDerivative · entry 1

deVeer R. Kipp · CIK 0001576312 · Director · Head of Credit Group

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 873,714

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F2 · balance_after: Includes 676,672 restricted units granted under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan. 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.

SEC source: 0001628280-20-009151 · wf-form4_159166342616894.xml · nonDerivative · entry 3

KAPLAN DAVID B · CIK 0001025976 · Director · Co-Founder & Co-Chair of PEG

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trently Holdings, LLC

Disclosed balance after: 400,000

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold on June 8, 2020 in multiple transactions at prices ranging from $39.59 to $40.23.

SEC source: 0001628280-20-009150 · wf-form4_159166338153007.xml · nonDerivative · entry 4

RESSLER ANTONY P · CIK 0001025978 · Director · C-Founder & Exec. Chairman · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By TJ Capital Investors, LLC

Disclosed balance after: 1,745,550

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F5 · price: The price reported in Column 4 is a weighted average price. These shares were sold on June 8, 2020 in multiple transactions at prices ranging from $39.59 to $40.51.

SEC source: 0001628280-20-009149 · wf-form4_159166335889357.xml · nonDerivative · entry 2

deVeer R. Kipp · CIK 0001576312 · Director · Head of Credit Group

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 874,314

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold on June 8, 2020 in multiple transactions at prices ranging from $40.00 to $40.51.

F3 · balance_after: Includes 676,672 restricted units granted under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan. 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.

SEC source: 0001628280-20-009151 · wf-form4_159166342616894.xml · nonDerivative · entry 2

KAPLAN DAVID B · CIK 0001025976 · Director · Co-Founder & Co-Chair of PEG

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trently Holdings, LLC

Disclosed balance after: 485,889

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold on June 5, 2020 in multiple transactions at prices ranging from $39.48 to $40.38.

SEC source: 0001628280-20-009150 · wf-form4_159166338153007.xml · nonDerivative · entry 3

RESSLER ANTONY P · CIK 0001025978 · Director · C-Founder & Exec. Chairman · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By TJ Capital Investors, LLC

Disclosed balance after: 1,857,137

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold on June 5, 2020 in multiple transactions at prices ranging from $39.48 to $40.32.

SEC source: 0001628280-20-009149 · wf-form4_159166335889357.xml · nonDerivative · entry 1

deVeer R. Kipp · CIK 0001576312 · Director · Head of Credit Group

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 925,529

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold on June 5, 2020 in multiple transactions at prices ranging from $40.00 to $40.32. 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 range set forth in this footnote and footnote 4.

F3 · balance_after: Includes 676,672 restricted units granted under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan. 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.

SEC source: 0001628280-20-009151 · wf-form4_159166342616894.xml · nonDerivative · entry 1

KAPLAN DAVID B · CIK 0001025976 · Director · Co-Founder & Co-Chair of PEG

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trently Holdings, LLC

Disclosed balance after: 659,400

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold on June 4, 2020 in multiple transactions at prices ranging from $39.00 to $39.50. 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 range set forth in this footnote and footnotes 3 and 4.

SEC source: 0001628280-20-009150 · wf-form4_159166338153007.xml · nonDerivative · entry 2

RESSLER ANTONY P · CIK 0001025978 · Director · C-Founder & Exec. Chairman · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By TJ Capital Investors, LLC

Disclosed balance after: 2,030,711

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold on June 4, 2020 in multiple transactions at prices ranging from $39.39 to $39.50.

SEC source: 0001628280-20-009150 · wf-form4_159166338153007.xml · nonDerivative · entry 1

RESSLER ANTONY P · CIK 0001025978 · Director · C-Founder & Exec. Chairman · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By TJ Capital Investors, LLC

Disclosed balance after: 2,038,311

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold on June 4, 2020 in multiple transactions at prices ranging from $38.39 to $39.38. 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 range set forth in this footnote and footnotes 3, 4 and 5.

SEC source: 0001628280-20-008939 · wf-form4_159122772755475.xml · nonDerivative · entry 3

KAPLAN DAVID B · CIK 0001025976 · Director · Co-Founder & Co-Chair of PEG

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trently Holdings, LLC

Disclosed balance after: 713,830

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold on June 3, 2020 in multiple transactions at prices ranging from $39.00 to $39.34.

SEC source: 0001628280-20-008938 · wf-form4_159122769396787.xml · nonDerivative · entry 4

RESSLER ANTONY P · CIK 0001025978 · Director · C-Founder & Exec. Chairman · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By TJ Capital Investors, LLC

Disclosed balance after: 2,171,628

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F6 · price: The price reported in Column 4 is a weighted average price. These shares were sold on June 3, 2020 in multiple transactions at prices ranging from $39.33 to $39.34.

F3 · balance_after: The amount reflects 2,500,000 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 transferred to the reporting person or a vehicle controlled by him.

SEC source: 0001628280-20-008938 · wf-form4_159122769396787.xml · nonDerivative · entry 3

RESSLER ANTONY P · CIK 0001025978 · Director · C-Founder & Exec. Chairman · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By TJ Capital Investors, LLC

Disclosed balance after: 2,171,828

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F5 · price: The price reported in Column 4 is a weighted average price. These shares were sold on June 3, 2020 in multiple transactions at prices ranging from $38.33 to $39.32.

F3 · balance_after: The amount reflects 2,500,000 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 transferred to the reporting person or a vehicle controlled by him.

SEC source: 0001628280-20-008939 · wf-form4_159122772755475.xml · nonDerivative · entry 2

KAPLAN DAVID B · CIK 0001025976 · Director · Co-Founder & Co-Chair of PEG

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trently Holdings, LLC

Disclosed balance after: 800,000

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold on June 2, 2020 in multiple transactions at prices ranging from $37.49 to $38.31.

SEC source: 0001628280-20-008938 · wf-form4_159122769396787.xml · nonDerivative · entry 2

RESSLER ANTONY P · CIK 0001025978 · Director · C-Founder & Exec. Chairman · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By TJ Capital Investors, LLC

Disclosed balance after: 2,395,335

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold on June 2, 2020 in multiple transactions at prices ranging from $38.00 to $38.31.

F3 · balance_after: The amount reflects 2,500,000 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 transferred to the reporting person or a vehicle controlled by him.

SEC source: 0001628280-20-008939 · wf-form4_159122772755475.xml · nonDerivative · entry 1

KAPLAN DAVID B · CIK 0001025976 · Director · Co-Founder & Co-Chair of PEG

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trently Holdings, LLC

Disclosed balance after: 868,268

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold on June 1, 2020 in multiple transactions at prices ranging from $37.03 to $38.00. 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 range set forth in this footnote and footnotes 3 and 4.

SEC source: 0001628280-20-008938 · wf-form4_159122769396787.xml · nonDerivative · entry 1

RESSLER ANTONY P · CIK 0001025978 · Director · C-Founder & Exec. Chairman · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By TJ Capital Investors, LLC

Disclosed balance after: 2,499,300

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold on June 1, 2020 in multiple transactions at prices ranging from $38.00 to $38.02. 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 range set forth in this footnote and footnotes 4, 5 and 6.

F3 · balance_after: The amount reflects 2,500,000 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 transferred to the reporting person or a vehicle controlled by him.

SEC source: 0001628280-20-008937 · wf-form4_159122757188462.xml · nonDerivative · entry 1

Arougheti Michael J · CIK 0001304471 · Director · Co-Founder, CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 499,999

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold on June 1, 2020 in multiple transactions at prices ranging from $37.12 to $37.94. 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 range set forth in this footnote.

F3 · balance_after: Includes 499,999 restricted units granted under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan. These restricted units vest in installments in accordance with the applicable restricted unit award agreement.

SEC source: 0001628280-20-008704 · wf-form4_159079673812161.xml · nonDerivative · entry 3

KAPLAN DAVID B · CIK 0001025976 · Director · Co-Founder & Co-Chair of PEG

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trently Holdings, LLC

Disclosed balance after: 981,990

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 29, 2020 in multiple transactions at prices ranging from $37.00 to $37.94.

SEC source: 0001628280-20-008703 · wf-form4_159079668953728.xml · nonDerivative · entry 2

Arougheti Michael J · CIK 0001304471 · Director · Co-Founder, CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 533,137

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 29, 2020 in multiple transactions at prices ranging from $37.49 to $37.94.

F3 · balance_after: Includes 499,999 restricted units granted under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan. These restricted units vest in installments in accordance with the applicable restricted unit award agreement.

SEC source: 0001628280-20-008703 · wf-form4_159079668953728.xml · nonDerivative · entry 1

Arougheti Michael J · CIK 0001304471 · Director · Co-Founder, CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 606,547

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 29, 2020 in multiple transactions at prices ranging from $36.49 to $37.48. 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 range set forth in this footnote and footnote 4.

F3 · balance_after: Includes 499,999 restricted units granted under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan. These restricted units vest in installments in accordance with the applicable restricted unit award agreement.

SEC source: 0001628280-20-008565 · wf-form4_159070929276806.xml · nonDerivative · entry 6

Arougheti Michael J · CIK 0001304471 · Director · Co-Founder, CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 710,824

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F8 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 28, 2020 in multiple transactions at prices ranging from $37.20 to $37.37.

F3 · balance_after: Includes 499,999 restricted units granted under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan. These restricted units vest in installments in accordance with the applicable restricted unit award agreement. The amount additionally includes 351,687 shares of Class A Common Stock held by Ares Owners Holdings L.P. ("AOH") on behalf of the reporting person, which were transferred to the reporting person.

SEC source: 0001628280-20-008565 · wf-form4_159070929276806.xml · nonDerivative · entry 5

Arougheti Michael J · CIK 0001304471 · Director · Co-Founder, CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 713,850

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F7 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 28, 2020 in multiple transactions at prices ranging from $36.20 to $37.19.

F3 · balance_after: Includes 499,999 restricted units granted under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan. These restricted units vest in installments in accordance with the applicable restricted unit award agreement. The amount additionally includes 351,687 shares of Class A Common Stock held by Ares Owners Holdings L.P. ("AOH") on behalf of the reporting person, which were transferred to the reporting person.

SEC source: 0001628280-20-008704 · wf-form4_159079673812161.xml · nonDerivative · entry 2

KAPLAN DAVID B · CIK 0001025976 · Director · Co-Founder & Co-Chair of PEG

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trently Holdings, LLC

Disclosed balance after: 1,139,247

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 28, 2020 in multiple transactions at prices ranging from $37.00 to $37.45.

SEC source: 0001628280-20-008705 · wf-form4_159079680976868.xml · nonDerivative · entry 4

Rosenthal Bennett · CIK 0001304465 · Director · Co-Founder & Co-Chair of PEG

10b5-1 filing: Not disclosed

Ownership: Indirect · By BAR Holdings, LLC

Disclosed balance after: 400,000

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F5 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 28, 2020 in multiple transactions at prices ranging from $37.21 to $37.40.

SEC source: 0001628280-20-008705 · wf-form4_159079680976868.xml · nonDerivative · entry 3

Rosenthal Bennett · CIK 0001304465 · Director · Co-Founder & Co-Chair of PEG

10b5-1 filing: Not disclosed

Ownership: Indirect · By BAR Holdings, LLC

Disclosed balance after: 402,017

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 28, 2020 in multiple transactions at prices ranging from $36.21 to $37.20.

SEC source: 0001628280-20-008565 · wf-form4_159070929276806.xml · nonDerivative · entry 4

Arougheti Michael J · CIK 0001304471 · Director · Co-Founder, CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 765,816

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F6 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 27, 2020 in multiple transactions at prices ranging from $36.77 to $37.19.

F3 · balance_after: Includes 499,999 restricted units granted under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan. These restricted units vest in installments in accordance with the applicable restricted unit award agreement. The amount additionally includes 351,687 shares of Class A Common Stock held by Ares Owners Holdings L.P. ("AOH") on behalf of the reporting person, which were transferred to the reporting person.

SEC source: 0001628280-20-008565 · wf-form4_159070929276806.xml · nonDerivative · entry 3

Arougheti Michael J · CIK 0001304471 · Director · Co-Founder, CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 783,001

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F5 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 27, 2020 in multiple transactions at prices ranging from $35.77 to $36.76.

F3 · balance_after: Includes 499,999 restricted units granted under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan. These restricted units vest in installments in accordance with the applicable restricted unit award agreement. The amount additionally includes 351,687 shares of Class A Common Stock held by Ares Owners Holdings L.P. ("AOH") on behalf of the reporting person, which were transferred to the reporting person.

SEC source: 0001628280-20-008704 · wf-form4_159079673812161.xml · nonDerivative · entry 1

KAPLAN DAVID B · CIK 0001025976 · Director · Co-Founder & Co-Chair of PEG

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trently Holdings, LLC

Disclosed balance after: 1,159,679

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 27, 2020 in multiple transactions at prices ranging from $37.00 to $37.23. 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 range set forth in this footnote and footnotes 3 and 4.

SEC source: 0001628280-20-008705 · wf-form4_159079680976868.xml · nonDerivative · entry 2

Rosenthal Bennett · CIK 0001304465 · Director · Co-Founder & Co-Chair of PEG

10b5-1 filing: Not disclosed

Ownership: Indirect · By BAR Holdings, LLC

Disclosed balance after: 450,631

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 27, 2020 in multiple transactions at prices ranging from $37.00 to $37.21.

SEC source: 0001628280-20-008705 · wf-form4_159079680976868.xml · nonDerivative · entry 1

Rosenthal Bennett · CIK 0001304465 · Director · Co-Founder & Co-Chair of PEG

10b5-1 filing: Not disclosed

Ownership: Indirect · By BAR Holdings, LLC

Disclosed balance after: 463,861

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 27, 2020 in multiple transactions at prices ranging from $36.00 to $36.98. 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 range set forth in this footnote and footnotes 3, 4 and 5.

SEC source: 0001628280-20-008440 · wf-form4_159054129910738.xml · nonDerivative · entry 4

KAPLAN DAVID B · CIK 0001025976 · Director · Co-Founder & Co-Chair of PEG

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trently Holdings, LLC

Disclosed balance after: 1,172,882

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F5 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 26, 2020 in multiple transactions at prices ranging from $36.73 to $37.55.

SEC source: 0001628280-20-008440 · wf-form4_159054129910738.xml · nonDerivative · entry 3

KAPLAN DAVID B · CIK 0001025976 · Director · Co-Founder & Co-Chair of PEG

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trently Holdings, LLC

Disclosed balance after: 1,200,100

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 26, 2020 in multiple transactions at prices ranging from $35.72 to $36.70.

SEC source: 0001628280-20-008439 · wf-form4_159054124245820.xml · nonDerivative · entry 3

Rosenthal Bennett · CIK 0001304465 · Director · Co-Founder & Co-Chair of PEG

10b5-1 filing: Not disclosed

Ownership: Indirect · By BAR Holdings, LLC

Disclosed balance after: 510,832

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 26, 2020 in multiple transactions at prices ranging from $37.00 to $37.54.

SEC source: 0001628280-20-008439 · wf-form4_159054124245820.xml · nonDerivative · entry 2

Rosenthal Bennett · CIK 0001304465 · Director · Co-Founder & Co-Chair of PEG

10b5-1 filing: Not disclosed

Ownership: Indirect · By BAR Holdings, LLC

Disclosed balance after: 536,996

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 26, 2020 in multiple transactions at prices ranging from $36.00 to $36.99.

SEC source: 0001628280-20-008566 · wf-form4_159070936469344.xml · nonDerivative · entry 1

BUSH ANTOINETTE COOK · CIK 0001209364 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,145

F1 · price: The price reported in Column 4 is a weighted average price. These shares were purchased on May 26, 2020 in multiple transactions at prices ranging from $37.39 to $37.40. 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.

SEC source: 0001628280-20-008565 · wf-form4_159070929276806.xml · nonDerivative · entry 2

Arougheti Michael J · CIK 0001304471 · Director · Co-Founder, CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 833,254

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 26, 2020 in multiple transactions at prices ranging from $36.69 to $37.55.

F3 · balance_after: Includes 499,999 restricted units granted under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan. These restricted units vest in installments in accordance with the applicable restricted unit award agreement. The amount additionally includes 351,687 shares of Class A Common Stock held by Ares Owners Holdings L.P. ("AOH") on behalf of the reporting person, which were transferred to the reporting person.

SEC source: 0001628280-20-008565 · wf-form4_159070929276806.xml · nonDerivative · entry 1

Arougheti Michael J · CIK 0001304471 · Director · Co-Founder, CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 897,368

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 26, 2020 in multiple transactions at prices ranging from $35.69 to $36.68. 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 range set forth in this footnote and footnotes 4, 5, 6, 7 and 8.

F3 · balance_after: Includes 499,999 restricted units granted under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan. These restricted units vest in installments in accordance with the applicable restricted unit award agreement. The amount additionally includes 351,687 shares of Class A Common Stock held by Ares Owners Holdings L.P. ("AOH") on behalf of the reporting person, which were transferred to the reporting person.

SEC source: 0001628280-20-008440 · wf-form4_159054129910738.xml · nonDerivative · entry 2

KAPLAN DAVID B · CIK 0001025976 · Director · Co-Founder & Co-Chair of PEG

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trently Holdings, LLC

Disclosed balance after: 1,223,529

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 22, 2020 in multiple transactions at prices ranging from $35.00 to $35.08.

SEC source: 0001628280-20-008442 · wf-form4_159054137823404.xml · nonDerivative · entry 2

Arougheti Michael J · CIK 0001304471 · Director · Co-Founder, CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 582,833

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 22, 2020 in multiple transactions at prices ranging from $35.00 to $35.10.

F3 · balance_after: Includes 499,999 restricted units granted under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan. These restricted units vest in installments in accordance with the applicable restricted unit award agreement.

SEC source: 0001628280-20-008440 · wf-form4_159054129910738.xml · nonDerivative · entry 1

KAPLAN DAVID B · CIK 0001025976 · Director · Co-Founder & Co-Chair of PEG

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trently Holdings, LLC

Disclosed balance after: 1,266,246

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 21, 2020 in multiple transactions at prices ranging from $35.00 to $35.17. 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 range set forth in this footnote and footnotes 3, 4 and 5.

SEC source: 0001628280-20-008442 · wf-form4_159054137823404.xml · nonDerivative · entry 1

Arougheti Michael J · CIK 0001304471 · Director · Co-Founder, CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 625,571

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 21, 2020 in multiple transactions at prices ranging from $35.00 to $35.17. 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 range set forth in this footnote and footnotes 4 and 5.

F3 · balance_after: Includes 499,999 restricted units granted under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan. These restricted units vest in installments in accordance with the applicable restricted unit award agreement.

SEC source: 0001628280-20-008439 · wf-form4_159054124245820.xml · nonDerivative · entry 1

Rosenthal Bennett · CIK 0001304465 · Director · Co-Founder & Co-Chair of PEG

10b5-1 filing: Not disclosed

Ownership: Indirect · By BAR Holdings, LLC

Disclosed balance after: 610,000

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 21, 2020 in multiple transactions at prices ranging from $34.42 to $35.17. 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 range set forth in this footnote and footnotes 3 and 4.

SEC source: 0001628280-20-008167 · wf-form4_159002205423006.xml · nonDerivative · entry 3

KAPLAN DAVID B · CIK 0001025976 · Director · Co-Founder & Co-Chair of PEG

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trently Holdings, LLC

Disclosed balance after: 1,285,946

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 20, 2020 in multiple transactions at prices ranging from $35.00 to $35.11.

SEC source: 0001628280-20-008168 · wf-form4_159002211013880.xml · nonDerivative · entry 4

Rosenthal Bennett · CIK 0001304465 · Director · Co-Founder & Co-Chair of PEG

10b5-1 filing: Not disclosed

Ownership: Indirect · By BAR Holdings, LLC

Disclosed balance after: 666,828

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F5 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 20, 2020 in multiple transactions at prices ranging from $34.31 to $35.11.

SEC source: 0001628280-20-008166 · wf-form4_159002197908825.xml · nonDerivative · entry 3

Arougheti Michael J · CIK 0001304471 · Director · Co-Founder, CEO and President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 645,080

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F5 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 20, 2020 in multiple transactions at prices ranging from $35.00 to $35.13.

F3 · balance_after: Includes 499,999 restricted units granted under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan. These restricted units vest in installments in accordance with the applicable restricted unit award agreement.

SEC source: 0001628280-20-008167 · wf-form4_159002205423006.xml · nonDerivative · entry 2

KAPLAN DAVID B · CIK 0001025976 · Director · Co-Founder & Co-Chair of PEG

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trently Holdings, LLC

Disclosed balance after: 1,294,546

F1 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person or a vehicle controlled by him.

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 19, 2020 in multiple transactions at prices ranging from $35.00 to $35.51.