Ares Management (ARES) Prices $500M Notes Offering

Ares Management Corporation (the “Company”) (NYSE: ARES) today announced that it has priced an offering of $500,000,000 aggregate principal amount of its 6.375% Senior Notes due 2028 (the “notes”). The notes will be fully and unconditionally guaranteed by Ares Holdings L.P., Ares Management LLC, Ares Investments Holdings LLC, Ares Finance Co. LLC, Ares Finance Co. II LLC, Ares Finance Co. III LLC and Ares Finance Co. IV LLC. The offering is expected to close on November 10, 2023, subject to the satisfaction of customary closing conditions.

The notes will bear interest at a rate of 6.375% per annum. Interest on the notes will be payable semi-annually in arrears on May 10 and November 10 of each year, commencing May 10, 2024.

The net proceeds from the offering will be approximately $496.0 million, after deducting the underwriting discount but before offering expenses. The Company intends to use the net proceeds from this offering for general corporate purposes, including debt repayment and to fund growth initiatives.

Morgan Stanley & Co. LLC, BofA Securities, Inc., SMBC Nikko Securities America, Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers, Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and MUFG Securities Americas Inc. are acting as senior co-managers and Academy Securities, Inc., Loop Capital Markets LLC, R. Seelaus & Co., LLC, Samuel A. Ramirez & Company, Inc. and Siebert Williams Shank & Co., LLC are acting co-managers for the offering. The offering is being made pursuant to an effective shelf registration statement on file with the U.S. Securities and Exchange Commission (the “SEC”).

The offering is being made only by means of a preliminary prospectus supplement and accompanying prospectus. An electronic copy of the preliminary prospectus supplement, together with the accompanying prospectus, is available on the SEC’s website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and accompanying prospectus may be obtained by contacting the joint book-running managers: (i) Morgan Stanley & Co. LLC, 180 Varick Street, New York, NY 10014, Attention: Prospectus Department, by email at [email protected] or toll-free at 1-866-718-1649, (ii) BofA Securities, Inc., NC1-022-02-25, 201 North Tryon Street, Charlotte, NC, 28255-0001, Attention: Prospectus Department, by email at [email protected] or toll-free at 1-800-294-1322, (iii) SMBC Nikko Securities America, Inc., 277 Park Avenue, New York, NY, 10172 or by email at [email protected], or (iv) Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN, 55402, Attention: WFS Customer Service, by email at [email protected] or toll-free at 1-800-645-3751.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the notes or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

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