ARES

SEC source: 0001628280-20-005897 · wf-form4_158820800496125.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: 944,607

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 April 28, 2020 in multiple transactions at prices ranging from $36.00 to $36.29.

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: 0001628280-20-005897 · wf-form4_158820800496125.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: 945,593

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 April 28, 2020 in multiple transactions at prices ranging from $35.00 to $35.98.

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: 0001628280-20-005898 · wf-form4_158820810454485.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: 1,638,954

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 April 27, 2020 in multiple transactions at prices ranging from $35.00 to $35.05. 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, 5 and 6.

SEC source: 0001628280-20-005899 · wf-form4_158820821160031.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: 1,653,747

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.

SEC source: 0001628280-20-005899 · wf-form4_158820821160031.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: 1,654,195

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 April 27, 2020 in multiple transactions at prices ranging from $34.03 to $35.02. 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 3, 4, 5 and 6.

SEC source: 0001628280-20-005897 · wf-form4_158820800496125.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: 993,267

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 April 27, 2020 in multiple transactions at prices ranging from $35.00 to $35.05. 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 and 7.

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: 0001628280-20-005075 · wf-form4_158707533297461.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: 1,712,683

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 April 14, 2020 in multiple transactions at prices ranging from $34.00 to $34.50. 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.

F3 · balance_after: Includes 1,875,000 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 a vehicle controlled by him.

SEC source: 0001104659-20-046056 · a4.xml · nonDerivative · entry 6

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: 1,729,103

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.

SEC source: 0001104659-20-046056 · a4.xml · nonDerivative · entry 5

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: 1,729,160

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 April 13, 2020 in multiple transactions at prices ranging from $34.00 to $34.75.

SEC source: 0001104659-20-046055 · a4.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Indirect · By Trently Holdings, LLC

Disclosed balance after: 1,654,717

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 April 9, 2020 in multiple transactions at prices ranging from $35.00 to $35.21. 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 range set forth in this footnote.

F3 · balance_after: Includes 1,575,000 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 a vehicle controlled by him.

SEC source: 0001104659-20-046056 · a4.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: 1,731,303

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 April 9, 2020 in multiple transactions at prices ranging from $35.13 to $35.34.

SEC source: 0001104659-20-046056 · a4.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: 1,740,928

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 April 9, 2020 in multiple transactions at prices ranging from $34.13 to $35.13.

F5 · balance_after: Includes 1,875,000 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 a vehicle controlled by him.

SEC source: 0001104659-20-046056 · a4.xml · nonDerivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Bennett and Allison Rosenthal Family Trust Dtd 4/29/11

Disclosed balance after: 0

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 April 9, 2020 in multiple transactions at prices ranging from $35.00 to $35.22.

SEC source: 0001104659-20-046056 · a4.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Indirect · By The Bennett and Allison Rosenthal Family Trust Dtd 4/29/11

Disclosed balance after: 15,732

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 April 9, 2020 in multiple transactions at prices ranging from $34.00 to $34.99. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission (the "SEC"), 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, 6 and 7.

SEC source: 0001104659-20-046054 · a4.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: 1,009,001

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

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold on April 9, 2020 in multiple transactions at prices ranging from $35.00 to $35.23. 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.

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: 0001104659-20-038342 · a4.xml · nonDerivative · entry 1

McFerran Michael R · CIK 0001464431 · EVP, COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 759,728

F1 · shares: 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 the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan (the "Equity Incentive Plan").

F2 · balance_after: Includes 683,552 restricted units granted under the 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: 0001104659-20-024316 · a4.xml · nonDerivative · entry 1

Berry Ryan · CIK 0001493586 · Chief Mktg. & Strategy Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 600,640

F1 · price: The price reported in Column 4 is a weighted average price. These shares were sold on February 20, 2020 in multiple transactions at prices ranging from $40.09 to $40.34, inclusive. 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.

F2 · balance_after: Reflects 600,640 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: 0001104659-20-022927 · a4.xml · derivative · entry 7

Berry Ryan · CIK 0001493586 · Chief Mktg. & Strategy Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 422,728

Underlying: Class A Common Stock · 105,681 shares

Expires 2024-04-30

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.

F2 · derivative.exercise_date: The options are fully vested as of May 1, 2019.

SEC source: 0001104659-20-022927 · a4.xml · nonDerivative · entry 2

Berry Ryan · CIK 0001493586 · Chief Mktg. & Strategy Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 630,366

F1 · balance_after: Includes 600,640 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: 0001104659-20-022927 · a4.xml · nonDerivative · entry 1

Berry Ryan · CIK 0001493586 · Chief Mktg. & Strategy Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 706,321

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 · balance_after: Includes 600,640 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: 0001104659-20-010767 · a4.xml · nonDerivative · entry 2

Sagati Aghili Naseem · CIK 0001779014 · General Counsel

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 161,622

F3 · shares: Granted under the Equity Incentive Plan. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restrictions on such units are schedule to lapse in four equal installments on January 31, 2022, 2023, 2024 and 2025.

F4 · balance_after: Includes 137,428 restricted units granted under the 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: 0001104659-20-010767 · a4.xml · nonDerivative · entry 1

Sagati Aghili Naseem · CIK 0001779014 · General Counsel

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 151,622

F1 · shares: 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 the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan (the "Equity Incentive Plan").

F2 · balance_after: Includes 127,428 restricted units granted under the 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: 0001104659-20-010764 · a4.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 877,883

F1 · shares: Granted under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan (the "Equity Incentive Plan"). Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restrictions on such units are schedule to lapse in four equal installments on January 31, 2022, 2023, 2024 and 2025.

F2 · balance_after: Includes 676,672 restricted units granted under the 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: 0001104659-20-006387 · a4.xml · nonDerivative · entry 2

McFerran Michael R · CIK 0001464431 · EVP, COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 774,282

F3 · shares: Granted under the Equity Incentive Plan. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restrictions on such units are schedule to lapse in three equal installments on January 20, 2021, 2022 and 2023.

F4 · balance_after: Includes 713,883 restricted units granted under the 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: 0001104659-20-006387 · a4.xml · nonDerivative · entry 1

McFerran Michael R · CIK 0001464431 · EVP, COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 762,997

F1 · shares: 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 the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan (the "Equity Incentive Plan").

F2 · balance_after: Includes 702,598 restricted units granted under the 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: 0001104659-20-006386 · a4.xml · nonDerivative · entry 1

deVeer R. Kipp · CIK 0001576312 · Partner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 777,883

F1 · shares: Granted under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan (the "Equity Incentive Plan"). Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restrictions on such units are schedule to lapse in three equal installments on January 20, 2021, 2022 and 2023

F2 · balance_after: Includes 576,672 restricted units granted under the 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: 0001104659-20-006384 · a4.xml · nonDerivative · entry 2

Berry Ryan · CIK 0001493586 · Chief Mktg. & Strategy Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 609,870

F3 · shares: Granted under the Equity Incentive Plan. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restrictions on such units are schedule to lapse in three equal installments on January 20, 2021, 2022 and 2023.

F4 · balance_after: Includes 600,640 restricted units granted under the 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: 0001104659-20-006384 · a4.xml · nonDerivative · entry 1

Berry Ryan · CIK 0001493586 · Chief Mktg. & Strategy Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 601,511

F1 · shares: 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 the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan (the "Equity Incentive Plan").

F2 · balance_after: Includes 592,281 restricted units granted under the 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: 0001104659-20-006383 · a4.xml · nonDerivative · entry 2

Sagati Aghili Naseem · CIK 0001779014 · General Counsel

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 154,216

F3 · shares: Granted under the Equity Incentive Plan. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restrictions on such units are schedule to lapse in three equal installments on January 20, 2021, 2022 and 2023.

F4 · balance_after: Includes 134,928 restricted units granted under the 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: 0001104659-20-006383 · a4.xml · nonDerivative · entry 1

Sagati Aghili Naseem · CIK 0001779014 · General Counsel

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 148,782

F1 · shares: 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 the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan (the "Equity Incentive Plan").

F2 · balance_after: Includes 129,494 restricted units granted under the 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: 0001104659-20-004391 · a4.xml · derivative · entry 4

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 666,667

Underlying: Class A Common Stock · 666,667 shares

Expires 2028-07-31

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 · derivative.exercise_price: Reflects the vesting of 666,667 restricted units granted on July 31, 2018 under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan (the "Equity Incentive Plan") on January 13, 2020 pursuant to the vesting conditions of such restricted units. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting.

F1 · derivative.exercise_date: Reflects the vesting of 666,667 restricted units granted on July 31, 2018 under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan (the "Equity Incentive Plan") on January 13, 2020 pursuant to the vesting conditions of such restricted units. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting.

F5 · balance_after: The restricted units were granted on July 31, 2018 pursuant to the Equity Incentive Plan. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. The restricted units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 1, 2028, the volume-weighted average price per share of Class A Common Stock is at least $45.00 generally subject to the reporting person's continued service through the applicable vesting date.

SEC source: 0001104659-20-004391 · a4.xml · nonDerivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,054,263

F3 · shares: 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 the Equity Incentive Plan.

F2 · balance_after: Includes 499,999 restricted units granted under the Equity Incentive Plan. These restricted units vest in installments in accordance with the applicable restricted unit award agreement.

SEC source: 0001104659-20-004391 · a4.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,380,730

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: Reflects the vesting of 666,667 restricted units granted on July 31, 2018 under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan (the "Equity Incentive Plan") on January 13, 2020 pursuant to the vesting conditions of such restricted units. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting.

F2 · balance_after: Includes 499,999 restricted units granted under the Equity Incentive Plan. These restricted units vest in installments in accordance with the applicable restricted unit award agreement.

SEC source: 0001104659-20-001597 · a4.xml · nonDerivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 714,063

F2 · shares: 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 the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan (the "Equity Incentive Plan"). Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting.

F3 · balance_after: Includes 499,999 restricted units granted under the Equity Incentive Plan. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

SEC source: 0001104659-20-001598 · a4.xml · nonDerivative · entry 1

deVeer R. Kipp · CIK 0001576312 · Partner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 776,211

F1 · shares: 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 the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan (the "Equity Incentive Plan"). Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting.

F2 · balance_after: Includes 575,000 restricted units granted under the Equity Incentive Plan. The restricted units vest in installments in accordance with the applicable restricted unit award agreement.

SEC source: 0001104659-20-001597 · a4.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 791,666

F1 · shares: The amount represents 325,000 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 prior to the disposition.

SEC source: 0001104659-19-060116 · a4.xml · nonDerivative · entry 1

Berry Ryan · CIK 0001493586 · Chief Mktg. & Strategy Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 606,614

F1 · shares: Granted under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan (the "Equity Incentive Plan"). 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 November 1, 2021, 2022, 2023 and 2024.

F2 · balance_after: Reflects 606,614 restricted units granted under the 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: 0001104659-19-060117 · a4.xml · nonDerivative · entry 1

McFerran Michael R · CIK 0001464431 · EVP, COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 768,849

F1 · shares: Granted under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan (the "Equity Incentive Plan"). 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 November 1, 2021, 2022, 2023 and 2024.

F2 · balance_after: Reported amount includes 719,141 restricted units granted under the 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: 0001104659-20-006835 · a4a.xml · nonDerivative · entry 1

Berry Ryan · CIK 0001493586 · Chief Mktg. & Strategy Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 606,614

F1 · date: This amendment is being filed to remove the sixth line of Table I. No other changes have been made to the Form 4.

SEC source: 0001104659-19-041910 · a4.xml · nonDerivative · entry 1

Joubert Paul G. · CIK 0001438584 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 30,513

F1 · balance_after: Includes a grant of 2,805 restricted units granted on July 23, 2019, each of which 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 July 23, 2020, 2021 and 2022. Also includes a grant of 13,761 restricted units granted on May 1, 2018, each of which 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 May 1, 2019, 2020 and 2021. In connection with the vesting event on May 1, 2019, the reporting person received 4,587 shares of Class A Common Stock.

SEC source: 0001104659-19-041909 · a4.xml · nonDerivative · entry 1

Lynton Michael · CIK 0001606115 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 20,513

F1 · balance_after: Includes a grant of 2,805 restricted units granted on July 23, 2019, each of which 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 July 23, 2020, 2021 and 2022. Also includes a grant of 13,761 restricted units granted on May 1, 2018, each of which 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 May 1, 2019, 2020 and 2021. In connection with the vesting event on May 1, 2019, the reporting person received 4,587 shares of Class A Common Stock.

SEC source: 0001104659-19-041906 · a4.xml · nonDerivative · entry 1

BUSH ANTOINETTE COOK · CIK 0001209364 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,805

F1 · balance_after: Reflects a grant of 2,805 restricted units granted on July 23, 2019, each of which 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 July 23, 2020, 2021 and 2022.

SEC source: 0001104659-19-041908 · a4.xml · nonDerivative · entry 1

Olian Judy D. · CIK 0001605729 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 22,313

F1 · balance_after: Includes a grant of 2,805 restricted units granted on July 23, 2019, each of which 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 July 23, 2020, 2021 and 2022. Also includes a grant of 13,761 restricted units granted on May 1, 2018, each of which 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 May 1, 2019, 2020 and 2021. In connection with the vesting event on May 1, 2019, the reporting person received 4,587 shares of Class A Common Stock.

SEC source: 0001104659-19-040600 · a4.xml · nonDerivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 791,666

F4 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person.

F5 · price: The price reported in Column 4 is a weighted average price. These shares were sold on July 15, 2019 in multiple transactions at prices ranging from $28.14 to $28.62, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, 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 a grant of 666,666 restricted units granted on July 31, 2018 pursuant to the Ares Management Corporation 2014 Equity Incentive Plan, each of which represents the right to receive one share of Class A Common Stock upon vesting. The restricted units will vest in four equal installments on January 1, 2020, 2021, 2022 and 2023, generally subject to the reporting person's continued service through each vesting date. The amount additionally includes 1,000,000 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: 0001104659-19-040600 · a4.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 830,700

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

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold on July 12, 2019 in multiple transactions at prices ranging from $28.00 to $28.59, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, 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 a grant of 666,666 restricted units granted on July 31, 2018 pursuant to the Ares Management Corporation 2014 Equity Incentive Plan, each of which represents the right to receive one share of Class A Common Stock upon vesting. The restricted units will vest in four equal installments on January 1, 2020, 2021, 2022 and 2023, generally subject to the reporting person's continued service through each vesting date. The amount additionally includes 1,000,000 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: 0001104659-19-039971 · a4.xml · nonDerivative · entry 3

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 919,066

F6 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person.

F7 · price: The price reported in Column 4 is a weighted average price. These shares were sold on July 11, 2019 in multiple transactions at prices ranging from $28.00 to $28.15, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, 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 a grant of 666,666 restricted units granted on July 31, 2018 pursuant to the Ares Management Corporation 2014 Equity Incentive Plan, each of which represents the right to receive one share of Class A Common Stock upon vesting. The restricted units will vest in four equal installments on January 1, 2020, 2021, 2022 and 2023, generally subject to the reporting person's continued service through each vesting date. The amount additionally includes 1,000,000 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: 0001104659-19-039971 · a4.xml · nonDerivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,007,658

F4 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person.

F5 · price: The price reported in Column 4 is a weighted average price. These shares were sold on July 10, 2019 in multiple transactions at prices ranging from $27.38 to $28.03, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, 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 a grant of 666,666 restricted units granted on July 31, 2018 pursuant to the Ares Management Corporation 2014 Equity Incentive Plan, each of which represents the right to receive one share of Class A Common Stock upon vesting. The restricted units will vest in four equal installments on January 1, 2020, 2021, 2022 and 2023, generally subject to the reporting person's continued service through each vesting date. The amount additionally includes 1,000,000 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: 0001104659-19-039971 · a4.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,086,677

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

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold on July 9, 2019 in multiple transactions at prices ranging from $26.94 to $27.47, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, 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 a grant of 666,666 restricted units granted on July 31, 2018 pursuant to the Ares Management Corporation 2014 Equity Incentive Plan, each of which represents the right to receive one share of Class A Common Stock upon vesting. The restricted units will vest in four equal installments on January 1, 2020, 2021, 2022 and 2023, generally subject to the reporting person's continued service through each vesting date. The amount additionally includes 1,000,000 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: 0001104659-19-039602 · a4.xml · nonDerivative · entry 3

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,193,778

F6 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person.

F7 · price: The price reported in Column 4 is a weighted average price. These shares were sold on July 8, 2019 in multiple transactions at prices ranging from $26.80 to $27.05, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, 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 a grant of 666,666 restricted units granted on July 31, 2018 pursuant to the Ares Management Corporation 2014 Equity Incentive Plan, each of which represents the right to receive one share of Class A Common Stock upon vesting. The restricted units will vest in four equal installments on January 1, 2020, 2021, 2022 and 2023, generally subject to the reporting person's continued service through each vesting date. The amount additionally includes 1,000,000 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: 0001104659-19-039602 · a4.xml · nonDerivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,259,324

F4 · kind: This transaction was effected pursuant to a 10b5-1 trading plan previously adopted by the reporting person.

F5 · price: The price reported in Column 4 is a weighted average price. These shares were sold on July 5, 2019 in multiple transactions at prices ranging from $26.86 to $27.30, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, 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 a grant of 666,666 restricted units granted on July 31, 2018 pursuant to the Ares Management Corporation 2014 Equity Incentive Plan, each of which represents the right to receive one share of Class A Common Stock upon vesting. The restricted units will vest in four equal installments on January 1, 2020, 2021, 2022 and 2023, generally subject to the reporting person's continued service through each vesting date. The amount additionally includes 1,000,000 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.