McFerran Michael R

SEC source: 0001628280-21-015429 · wf-form4_162803716256461.xml · derivative · entry 3

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 112,500

Underlying: Class A Common Stock · 112,500 shares

Expires 2029-01-22

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: The restricted units were granted on January 22, 2021 pursuant to the Equity Incentive Plan, each of which represents the right to receive one share of Class A Common Stock upon vesting. The restricted units are subject to market price-based vesting conditions as follows: 112,500 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $75.00, generally subject to the reporting person's continued service through the applicable vesting date.

F4 · derivative.exercise_date: The restricted units were granted on January 22, 2021 pursuant to the Equity Incentive Plan, each of which represents the right to receive one share of Class A Common Stock upon vesting. The restricted units are subject to market price-based vesting conditions as follows: 112,500 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $75.00, generally subject to the reporting person's continued service through the applicable vesting date.

SEC source: 0001628280-21-015429 · wf-form4_162803716256461.xml · nonDerivative · entry 2

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 965,984

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 817,421 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: 0001628280-21-015429 · wf-form4_162803716256461.xml · nonDerivative · entry 1

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,021,762

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 112,500 restricted units granted on January 22, 2021 under the Ares Management Corporation Third Amended and Restated 2014 Equity Incentive Plan (the "Equity Incentive Plan") on July 30, 2021 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 817,421 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: 0001628280-21-013593 · wf-form4_162562300792624.xml · derivative · entry 3

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 225,000

Underlying: Class A Common Stock · 112,500 shares

Expires 2029-01-22

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: The restricted units were granted on January 22, 2021 pursuant to the Equity Incentive Plan, each of which represents the right to receive one share of Class A Common Stock upon vesting. The restricted units are subject to market price-based vesting conditions as follows: (i) 112,500 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $65.00; and (ii) 112,500 units will vest if, over all trading days that occur during any consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $75.00, in each case generally subject to the reporting person's continued service through the applicable vesting date.

F4 · derivative.exercise_date: The restricted units were granted on January 22, 2021 pursuant to the Equity Incentive Plan, each of which represents the right to receive one share of Class A Common Stock upon vesting. The restricted units are subject to market price-based vesting conditions as follows: (i) 112,500 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $65.00; and (ii) 112,500 units will vest if, over all trading days that occur during any consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $75.00, in each case generally subject to the reporting person's continued service through the applicable vesting date.

SEC source: 0001628280-21-013593 · wf-form4_162562300792624.xml · nonDerivative · entry 2

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 909,262

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 817,421 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: 0001628280-21-013593 · wf-form4_162562300792624.xml · nonDerivative · entry 1

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 965,040

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 112,500 restricted units granted on January 22, 2021 under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan (the "Equity Incentive Plan") on July 1, 2021 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 817,421 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: 0001628280-21-012381 · wf-form4_162389120276690.xml · nonDerivative · entry 1

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 852,540

F1 · balance_after: Includes 817,421 restricted units granted under the Ares Management Corporation Third Amended and Restated Equity Incentive Plan. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. These restricted units vest in installments in accordance with the applicable restricted unit award agreement.

SEC source: 0001628280-21-011651 · wf-form4_162276869575889.xml · nonDerivative · entry 1

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 862,540

F1 · price: The price reported in Column 4 is a weighted average price. These shares were sold on June 1, 2021 in multiple transactions at prices ranging from $55.12 to $55.30. 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: Includes 817,421 restricted units granted under the Ares Management Corporation Third Amended and Restated Equity Incentive Plan. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting. These restricted units vest in installments in accordance with the applicable restricted unit award agreement.

SEC source: 0001628280-21-006803 · wf-form4_161827795248194.xml · derivative · entry 3

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 337,500

Underlying: Class A Common Stock · 112,500 shares

Expires 2029-01-22

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: The restricted units were granted on January 22, 2021 pursuant to the Equity Incentive Plan, each of which represents the right to receive one share of Class A Common Stock upon vesting. The restricted units are subject to market price-based vesting conditions as follows: (i) 112,500 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $60.00; (ii) 112,500 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $65.00; (Continued in footnote 5)

F5 · derivative.exercise_price: and (iii) 112,500 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $75.00, in each case generally subject to the reporting person's continued service through the applicable vesting date.

F4 · derivative.exercise_date: The restricted units were granted on January 22, 2021 pursuant to the Equity Incentive Plan, each of which represents the right to receive one share of Class A Common Stock upon vesting. The restricted units are subject to market price-based vesting conditions as follows: (i) 112,500 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $60.00; (ii) 112,500 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $65.00; (Continued in footnote 5)

F5 · derivative.exercise_date: and (iii) 112,500 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $75.00, in each case generally subject to the reporting person's continued service through the applicable vesting date.

SEC source: 0001628280-21-006803 · wf-form4_161827795248194.xml · nonDerivative · entry 2

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 962,540

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 817,421 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: 0001628280-21-006803 · wf-form4_161827795248194.xml · nonDerivative · entry 1

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,018,318

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 112,500 restricted units granted on January 22, 2021 under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan (the "Equity Incentive Plan") on April 8, 2021 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 817,421 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: 0001628280-21-005505 · wf-form4_161662949385902.xml · nonDerivative · entry 1

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 905,818

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 817,421 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: 0001628280-21-000740 · wf-form4_161136974097071.xml · derivative · entry 7

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 450,000

Underlying: Class A Common Stock · 450,000 shares

Expires 2029-01-22

F8 · derivative.exercise_price: The restricted units were granted on January 22, 2021 pursuant to the Equity Incentive Plan, each of which represents the right to receive one share of Class A Common Stock upon vesting. The restricted units are subject to market price-based vesting conditions as follows: (i) 112,500 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $55.00; (ii) 112,500 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $60.00; (Continued in footnote 8)

F9 · derivative.exercise_price: (iii) 112,500 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $65.00; (iv) 112,500 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $75.00, in each case generally subject to the reporting person's continued service through the applicable vesting date.

F8 · derivative.exercise_date: The restricted units were granted on January 22, 2021 pursuant to the Equity Incentive Plan, each of which represents the right to receive one share of Class A Common Stock upon vesting. The restricted units are subject to market price-based vesting conditions as follows: (i) 112,500 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $55.00; (ii) 112,500 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $60.00; (Continued in footnote 8)

F9 · derivative.exercise_date: (iii) 112,500 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $65.00; (iv) 112,500 units will vest if, over all trading days that occur during any 30 consecutive calendar day period on or prior to January 22, 2029, the volume-weighted average price per share of Class A Common Stock is at least $75.00, in each case generally subject to the reporting person's continued service through the applicable vesting date.

SEC source: 0001628280-21-000740 · wf-form4_161136974097071.xml · nonDerivative · entry 3

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 922,538

F5 · 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 scheduled to lapse in four equal installments on January 31, 2023, 2024, 2025 and 2026.

F6 · balance_after: Includes 851,649 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: 0001628280-21-000740 · wf-form4_161136974097071.xml · nonDerivative · entry 2

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 810,038

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. Each restricted unit represents the right to receive one share of Class A Common Stock upon vesting.

F4 · balance_after: Includes 739,149 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: 0001628280-21-000740 · wf-form4_161136974097071.xml · nonDerivative · entry 1

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 815,874

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 January 20, 2022, 2023 and 2024.

F2 · balance_after: Includes 755,686 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: 0001628280-20-016452 · wf-form4_160531563150179.xml · nonDerivative · entry 1

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 806,240

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, 2022, 2023, 2024 and 2025.

F2 · balance_after: Includes 746,052 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: 0001628280-20-015411 · wf-form4_160444844035976.xml · nonDerivative · entry 1

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 681,240

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 621,052 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: 0001628280-20-013417 · wf-form4_159969284082101.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 712,228

F1 · price: The price reported in Column 4 is a weighted average price. These shares were sold on September 8, 2020 in multiple transactions at prices ranging from $38.25 to $38.92. 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: Includes 683,552 restricted units granted under 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: 0001628280-20-013317 · wf-form4_159917798013604.xml · derivative · entry 3

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 144,453

Underlying: Class A Common Stock · 30,000 shares

Expires 2025-03-23

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 · derivative.exercise_date: The options are fully vested as of March 23, 2020.

SEC source: 0001628280-20-013317 · wf-form4_159917798013604.xml · nonDerivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 742,228

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 · balance_after: Includes 683,552 restricted units granted under 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: 0001628280-21-000740 · wf-form4_161136974097071.xml · derivative · entry 11

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 144,453

Underlying: Class A Common Stock · 30,000 shares

Expires 2025-03-23

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.

F10 · derivative.exercise_price: The price in column 2 and column 8 reported in this Form 4 corrects a scriveners' error in previously reported Forms 4 (filed on May 8, 2020, August 31, 2020 and September 3, 2020).

F10 · price: The price in column 2 and column 8 reported in this Form 4 corrects a scriveners' error in previously reported Forms 4 (filed on May 8, 2020, August 31, 2020 and September 3, 2020).

F11 · derivative.exercise_date: The options are fully vested as of March 23, 2020.

SEC source: 0001628280-21-000740 · wf-form4_161136974097071.xml · nonDerivative · entry 6

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 742,228

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.

F7 · price: The price in column 4 reported in this Form 4 corrects a scriveners' error in previously reported Forms 4 (filed on May 8, 2020, August 31, 2020 and September 3, 2020).

SEC source: 0001628280-20-013317 · wf-form4_159917798013604.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 712,228

F1 · price: The price reported in Column 4 is a weighted average price. These shares were sold on September 1, 2020 in multiple transactions at prices ranging from $40.25 to $40.57. 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: Includes 683,552 restricted units granted under 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: 0001628280-20-013153 · wf-form4_159891974794769.xml · derivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 174,453

Underlying: Class A Common Stock · 30,000 shares

Expires 2025-03-23

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 March 23, 2020.

SEC source: 0001628280-20-013153 · wf-form4_159891974794769.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 742,228

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 683,552 restricted units granted under 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: 0001628280-21-000740 · wf-form4_161136974097071.xml · derivative · entry 10

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 174,453

Underlying: Class A Common Stock · 30,000 shares

Expires 2025-03-23

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.

F10 · derivative.exercise_price: The price in column 2 and column 8 reported in this Form 4 corrects a scriveners' error in previously reported Forms 4 (filed on May 8, 2020, August 31, 2020 and September 3, 2020).

F10 · price: The price in column 2 and column 8 reported in this Form 4 corrects a scriveners' error in previously reported Forms 4 (filed on May 8, 2020, August 31, 2020 and September 3, 2020).

F11 · derivative.exercise_date: The options are fully vested as of March 23, 2020.

SEC source: 0001628280-21-000740 · wf-form4_161136974097071.xml · nonDerivative · entry 5

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 742,228

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.

F7 · price: The price in column 4 reported in this Form 4 corrects a scriveners' error in previously reported Forms 4 (filed on May 8, 2020, August 31, 2020 and September 3, 2020).

SEC source: 0001628280-20-007270 · wf-form4_158898403484272.xml · nonDerivative · entry 5

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 712,228

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 8, 2020 in multiple transactions at prices ranging from $34.51 to $35.18.

F1 · balance_after: Includes 683,552 restricted units granted under 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: 0001628280-20-007270 · wf-form4_158898403484272.xml · derivative · entry 6

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 204,453

Underlying: Class A Common Stock · 50,000 shares

Expires 2025-03-23

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.

F5 · derivative.exercise_date: The options are fully vested as of March 23, 2020.

SEC source: 0001628280-20-007270 · wf-form4_158898403484272.xml · nonDerivative · entry 4

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 724,224

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 7, 2020 in multiple transactions at prices ranging from $34.00 to $34.64.

F1 · balance_after: Includes 683,552 restricted units granted under 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: 0001628280-20-007270 · wf-form4_158898403484272.xml · nonDerivative · entry 3

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 754,224

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold on May 7, 2020 in multiple transactions at prices ranging from $34.97 to $35.00. 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.

F1 · balance_after: Includes 683,552 restricted units granted under 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: 0001628280-20-007270 · wf-form4_158898403484272.xml · nonDerivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 771,724

F1 · balance_after: Includes 683,552 restricted units granted under 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: 0001628280-20-007270 · wf-form4_158898403484272.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 809,728

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 683,552 restricted units granted under 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: 0001628280-21-000740 · wf-form4_161136974097071.xml · derivative · entry 9

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 204,453

Underlying: Class A Common Stock · 50,000 shares

Expires 2025-03-23

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.

F10 · derivative.exercise_price: The price in column 2 and column 8 reported in this Form 4 corrects a scriveners' error in previously reported Forms 4 (filed on May 8, 2020, August 31, 2020 and September 3, 2020).

F10 · price: The price in column 2 and column 8 reported in this Form 4 corrects a scriveners' error in previously reported Forms 4 (filed on May 8, 2020, August 31, 2020 and September 3, 2020).

F11 · derivative.exercise_date: The options are fully vested as of March 23, 2020.

SEC source: 0001628280-21-000740 · wf-form4_161136974097071.xml · nonDerivative · entry 4

McFerran Michael R · CIK 0001464431 · COO & CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 809,728

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.

F7 · price: The price in column 4 reported in this Form 4 corrects a scriveners' error in previously reported Forms 4 (filed on May 8, 2020, August 31, 2020 and September 3, 2020).

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: 0001104659-20-006387 · 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: 0001104659-19-060117 · 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: 0001104659-19-017525 · a4.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 643,849

F1 · balance_after: Reflects a grant of 21,267 restricted shares granted on March 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 four equal installments on March 23, 2021, 2022, 2023 and 2024. Also includes a grant of 20,650 restricted units granted on January 20, 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 January 20, 2020, 2021 and 2022. Also includes 250,000 restricted units granted on November 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 four equal installments on November 1, 2020, 2021, 2022 and 2023. (Continued in Footnote 2)

F2 · balance_after: Also includes 22,989 restricted units granted on March 23, 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 March 23, 2021, 2022 and 2023. Also includes 12,103 restricted units granted on January 20, 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 four equal installments on January 20, 2019, 2020, 2021 and 2022. In connection with the vesting on January 20, 2019, the reporting person received 1,987 shares of Class A Common Stock, with the remaining 1,039 shares of Class A Common Stock withheld to cover taxes on this transaction. (Continued in Footnote 3)

F3 · balance_after: Also includes 27,248 restricted units granted on March 23, 2017, 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 March 23, 2020, 2021 and 2022. Also includes 100,000 restricted units granted on January 31, 2017, 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 on January 31, 2022. Also includes 11,462 restricted units granted on January 20, 2017, each of which represents the right to receive one share of Class A Common Stock upon vesting. (Continued in Footnote 4)

F4 · balance_after: The restrictions on such units are scheduled to lapse in four equal installments on January 20, 2018, 2019, 2020 and 2021. In connection with the vesting on January 20, 2018, the reporting person received 1,870 shares of Class A Common Stock, with the remaining 996 shares of Class A Common Stock withheld to cover taxes on this transaction. In connection with the vesting on January 20, 2019, the reporting person received 1,878 shares of Class A Common Stock, with the remaining 988 shares of Class A Common Stock withheld to cover taxes on this transaction. (Continued in Footnote 5)

F5 · balance_after: Also includes 100,000 restricted units granted on August 15, 2016, 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 on August 15, 2021. Also includes 36,497 restricted units granted on March 23, 2016, 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 March 23, 2019, 2020 and 2021. In connection with the vesting on March 23, 2019, the reporting person received 7,958 shares of Class A Common Stock, with the remaining 4,208 shares of Class A Common Stock withheld to cover taxes on this transaction. (Continued in Footnote 6)

F6 · balance_after: Also includes 15,068 restricted units granted on January 20, 2016, 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 four equal installments on January 20, 2017, 2018, 2019 and 2020. In connection with the vesting on January 20, 2017, the reporting person received 2,151 shares of Class A Common Stock, with the remaining 1,616 shares of Class A Common Stock withheld to cover taxes on this transaction. In connection with the vesting on January 20, 2018, the reporting person received 2,250 shares of Class A Common Stock, with the remaining 1,517 shares of Class A Common Stock withheld to cover taxes on this transaction. In connection with the vesting on January 20, 2019, the reporting person received 2,230 shares of Class A Common Stock, with the remaining 1,537 shares of Class A Common Stock withheld to cover taxes on this transaction. (Continued in Footnote 7)

F7 · balance_after: Also includes 27,248 restricted units granted on March 23, 2015, 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 March 23, 2018, 2019 and 2020. In connection with the vesting on March 23, 2018, the reporting person received 5,942 shares of Class A Common Stock, with the remaining 3,141 shares of Class A Common Stock withheld to cover taxes on this transaction. In connection with the vesting on March 23, 2019, the reporting person received 5,942 shares of Class A Common Stock, with the remaining 3,141 shares of Class A Common Stock withheld to cover taxes on this transaction.

SEC source: 0001104659-20-005245 · a5.xml · nonDerivative · entry 5

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 768,849

F1 · shares: As previously disclosed in a footnote on Form 4 previously filed by the reporting person, 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 Class A Common Stock 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.

SEC source: 0001104659-19-002981 · a4.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 629,931

F1 · balance_after: Reflects a grant of 20,650 restricted units granted on January 20, 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 January 20, 2020, 2021 and 2022. Also includes 250,000 restricted units granted on November 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 four equal installments on November 1, 2020, 2021, 2022 and 2023. Also includes 22,989 restricted units granted on March 23, 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 March 23, 2021, 2022 and 2023.(Continued in Footnote 2)

F2 · balance_after: Also includes 12,103 restricted units granted on January 20, 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 four equal installments on January 20, 2019, 2020, 2021 and 2022. In connection with the vesting on January 20, 2019, the reporting person received 1,987 shares of Class A Common Stock, with the remaining 1,039 shares of Class A Common Stock withheld to cover taxes on this transaction. Also includes 27,248 restricted units granted on March 23, 2017, 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 March 23, 2020, 2021 and 2022.(Continued in Footnote 3)

F3 · balance_after: Also includes 100,000 restricted units granted on January 31, 2017, 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 on January 31, 2022. Also includes 11,462 restricted units granted on January 20, 2017, 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 four equal installments on January 20, 2018, 2019, 2020 and 2021. In connection with the vesting on January 20, 2018, the reporting person received 1,870 shares of Class A Common Stock, with the remaining 996 shares of Class A Common Stock withheld to cover taxes on this transaction.(Continued in Footnote 4)

F4 · balance_after: In connection with the vesting on January 20, 2019, the reporting person received 1,878 shares of Class A Common Stock, with the remaining 988 shares of Class A Common Stock withheld to cover taxes on this transaction. Also includes 100,000 restricted units granted on August 15, 2016, 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 on August 15, 2021. Also includes 36,497 restricted units granted on March 23, 2016, 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 March 23, 2019, 2020 and 2021. Also includes 15,068 restricted units granted on January 20, 2016, each of which represents the right to receive one share of Class A Common Stock upon vesting.(Continued in Footnote 5)

F5 · balance_after: The restrictions on such units are scheduled to lapse in four equal installments on January 20, 2017, 2018, 2019 and 2020. In connection with the vesting on January 20, 2017, the reporting person received 2,151 shares of Class A Common Stock, with the remaining 1,616 shares of Class A Common Stock withheld to cover taxes on this transaction. In connection with the vesting on January 20, 2018, the reporting person received 2,250 shares of Class A Common Stock, with the remaining 1,517 shares of Class A Common Stock withheld to cover taxes on this transaction. In connection with the vesting on January 20, 2019, the reporting person received 2,230 shares of Class A Common Stock, with the remaining 1,537 shares of Class A Common Stock withheld to cover taxes on this transaction. Also includes 27,248 restricted units granted on March 23, 2015, each of which represents the right to receive one share of Class A Common Stock upon vesting.(Continued in Footnote 6)

F6 · balance_after: The restrictions on such units are scheduled to lapse in three equal installments on March 23, 2018, 2019 and 2020. In connection with the vesting on March 23, 2018, the reporting person received 5,942 shares of Class A Common Stock, with the remaining 3,141 shares of Class A Common Stock withheld to cover taxes on this transaction.

SEC source: 0001104659-20-005245 · a5.xml · nonDerivative · entry 4

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 768,849

F1 · shares: As previously disclosed in a footnote on Form 4 previously filed by the reporting person, 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 Class A Common Stock 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.

SEC source: 0001104659-18-065807 · a4.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 612,845

F1 · balance_after: Reflects a grant of 250,000 restricted units granted on November 1, 2018, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse in four equal installments on November 1, 2020, 2021, 2022 and 2023. Also includes a grant of 22,989 restricted units granted on March 23, 2018, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse in three equal installments on March 23, 2021, 2022 and 2023. Also includes a grant of 12,103 restricted units granted on January 20, 2018, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse in four equal installments January 20, 2019, 2020, 2021 and 2022.(Continued in Footnote 2)

F2 · balance_after: Also includes a grant of 27,248 restricted units granted on March 23, 2017, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse in three equal installments on March 23, 2020, 2021 and 2022. Also includes a grant of 100,000 restricted units granted on January 31, 2017, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse on January 31, 2022. Also includes a grant of 11,462 restricted units granted on January 20, 2017, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse in four equal installments on January 20, 2018, 2019, 2020 and 2021. In connection with the vesting on January 20, 2018, the reporting person received 1,870 Common Shares, with the remaining 996 Common Shares withheld to cover taxes on this transaction.(Continued in Footnote 3)

F3 · balance_after: Also includes 100,000 restricted units granted on August 15, 2016, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse on August 15, 2021. Also includes 36,497 restricted units granted on March 23, 2016, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse in three equal installments on March 23, 2019, 2020 and 2021. Also includes 15,068 restricted units granted on January 20, 2016, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse in four equal installments on January 20, 2017, 2018, 2019 and 2020.(Continued in Footnote 4)

F4 · balance_after: In connection with the vesting on January 20, 2017, the reporting person received 2,151 Common Shares, with the remaining 1,616 Common Shares withheld to cover taxes on this transaction. In connection with the vesting on January 20, 2018, the reporting person received 2,250 Common Shares, with the remaining 1,517 Common Shares withheld to cover taxes on this transaction. Also includes 27,248 restricted units granted on March 23, 2015, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse in three equal installments on March 23, 2018, 2019 and 2020. In connection with the vesting on March 23, 2018, the reporting person received 5,942 Common Shares, with the remaining 3,141 Common Shares withheld to cover taxes on this transaction.

SEC source: 0001104659-18-052314 · a4.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 362,845

F1 · balance_after: Reflects a grant of 22,989 restricted units granted on March 23, 2018, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse in three equal installments on March 23, 2021, 2022 and 2023. Also includes a grant of 12,103 restricted units granted on January 20, 2018, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse in four equal installments January 20, 2019, 2020, 2021 and 2022. Also includes a grant of 27,248 restricted units granted on March 23, 2017, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse in three equal installments on March 23, 2020, 2021 and 2022.(Continued in Footnote 2)

F2 · balance_after: Also includes a grant of 100,000 restricted units granted on January 31, 2017, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse on January 31, 2022. Also includes a grant of 11,462 restricted units granted on January 20, 2017, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse in four equal installments on January 20, 2018, 2019, 2020 and 2021. In connection with the vesting on January 20, 2018, the reporting person received 1,870 Common Shares, with the remaining 996 Common Shares withheld to cover taxes on this transaction. Also includes 100,000 restricted units granted on August 15, 2016, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse on August 15, 2021.(Continued in Footnote 3)

F3 · balance_after: Also includes 36,497 restricted units granted on March 23, 2016, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse in three equal installments on March 23, 2019, 2020 and 2021. Also includes 15,068 restricted units granted on January 20, 2016, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse in four equal installments on January 20, 2017, 2018, 2019 and 2020. In connection with the vesting on January 20, 2017, the reporting person received 2,151 Common Shares, with the remaining 1,616 Common Shares withheld to cover taxes on this transaction. In connection with the vesting on January 20, 2018, the reporting person received 2,250 Common Shares, with the remaining 1,517 Common Shares withheld to cover taxes on this transaction.(Continued in Footnote 4)

F4 · balance_after: Also includes 27,248 restricted units granted on March 23, 2015, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse in three equal installments on March 23, 2018, 2019 and 2020. In connection with the vesting on March 23, 2018, the reporting person received 5,942 Common Shares, with the remaining 3,141 Common Shares withheld to cover taxes on this transaction.

SEC source: 0001104659-18-020204 · a4.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 355,345

F1 · balance_after: Reflects a grant of 22,989 restricted units granted on March 23, 2018, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse in three equal installments on March 23, 2021, 2022 and 2023. Also includes a grant of 12,103 restricted units granted on January 20, 2018, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse in four equal installments January 20, 2019, 2020, 2021 and 2022. Also includes a grant of 27,248 restricted units granted on March 23, 2017, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse in three equal installments on March 23, 2020, 2021 and 2022.(Continued in Footnote 2)

F2 · balance_after: Also includes a grant of 100,000 restricted units granted on January 31, 2017, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse on January 31, 2022. Also includes a grant of 11,462 restricted units granted on January 20, 2017, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse in four equal installments on January 20, 2018, 2019, 2020 and 2021. In connection with the vesting on January 20, 2018, the reporting person received 1,870 Common Shares, with the remaining 996 Common Shares withheld to cover taxes on this transaction. Also includes 100,000 restricted units granted on August 15, 2016, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse on August 15, 2021.(Continued in Footnote 3)

F3 · balance_after: Also includes 36,497 restricted units granted on March 23, 2016, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse in three equal installments on March 23, 2019, 2020 and 2021. Also includes 15,068 restricted units granted on January 20, 2016, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse in four equal installments on January 20, 2017, 2018, 2019 and 2020. In connection with the vesting on January 20, 2017, the reporting person received 2,151 Common Shares, with the remaining 1,616 Common Shares withheld to cover taxes on this transaction. In connection with the vesting on January 20, 2018, the reporting person received 2,250 Common Shares, with the remaining 1,517 Common Shares withheld to cover taxes on this transaction.(Continued in Footnote 4)

F4 · balance_after: Also includes 27,248 restricted units granted on March 23, 2015, each of which represents the right to receive one Common Share upon vesting. The restrictions on such units are scheduled to lapse in three equal installments on March 23, 2018, 2019 and 2020. In connection with the vesting on March 23, 2018, the reporting person received 5,942 Common Shares, with the remaining 3,141 Common Shares withheld to cover taxes on this transaction.

SEC source: 0001104659-20-005245 · a5.xml · nonDerivative · entry 3

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 612,845

F1 · shares: As previously disclosed in a footnote on Form 4 previously filed by the reporting person, 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 Class A Common Stock 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.

SEC source: 0001104659-18-003643 · a4.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 335,497

F1 · balance_after: Reflects a grant of 12,103 restricted units granted on January 20, 2018, each of which represents the right to receive one Common Unit upon vesting. The restrictions on such units are scheduled to lapse in four equal installments January 20, 2019, 2020, 2021 and 2022. Also includes a grant of 27,248 restricted units granted on March 23, 2017, each of which represents the right to receive one Common Unit upon vesting. The restrictions on such units are scheduled to lapse in three equal installments on March 23, 2020, 2021 and 2022. Also includes a grant of 100,000 restricted units granted on January 31, 2017, each of which represents the right to receive one Common Unit upon vesting. The restrictions on such units are scheduled to lapse on January 31, 2022. Also includes a grant of 11,462 restricted units granted on January 20, 2017, each of which represents the right to receive one Common Unit upon vesting.(Continued in Footnote 2)

F2 · balance_after: The restrictions on such units are scheduled to lapse in four equal installments on January 20, 2018, 2019, 2020 and 2021. In connection with the vesting on January 20, 2018, the reporting person received 1,870 Common Units, with the remaining 996 Common Units withheld to cover taxes on this transaction. Also includes 100,000 restricted units granted on August 15, 2016, each of which represents the right to receive one Common Unit upon vesting. The restrictions on such units are scheduled to lapse on August 15, 2021. Also includes 36,497 restricted units granted on March 23, 2016, each of which represents the right to receive one Common Unit upon vesting. The restrictions on such units are scheduled to lapse in three equal installments on March 23, 2019, 2020 and 2021. Also includes 15,068 restricted units granted on January 20, 2016, each of which represents the right to receive one Common Unit upon vesting.(Continued in Footnote 3)

F3 · balance_after: The restrictions on such units are scheduled to lapse in four equal installments on January 20, 2017, 2018, 2019 and 2020. In connection with the vesting on January 20, 2017, the reporting person received 2,151 Common Units, with the remaining 1,616 Common Units withheld to cover taxes on this transaction. In connection with the vesting on January 20, 2018, the reporting person received 2,250 Common Units, with the remaining 1,517 Common Units withheld to cover taxes on this transaction. Also includes 27,248 restricted units granted on March 23, 2015, each of which represents the right to receive one Common Unit upon vesting. The restrictions on such units are scheduled to lapse in three equal installments on March 23, 2018, 2019 and 2020.

SEC source: 0001104659-20-005245 · a5.xml · nonDerivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 612,845

F1 · shares: As previously disclosed in a footnote on Form 4 previously filed by the reporting person, 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 Class A Common Stock 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.