X0306 4 2019-01-31 0 0001176948 Ares Management Corp ARES 0001576312 deVeer R. Kipp 2000 AVENUE OF THE STARS 12TH FLOOR LOS ANGELES CA 90067 0 1 0 0 Partner Class A Common Stock 2019-01-31 4 A 0 100000 0 A 877121 D Class A Common Stock 574866 I By Ares Owners Holdings L.P. Reflects a grant of 100,000 restricted units granted on January 31, 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 January 31, 2021, 2022, 2023 and 2024. Also includes a grant of 750,000 restricted units, 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 1, 2019, 2020, 2021 and 2022. In connection with the vesting on January 1, 2019, the reporting person received 95,786 shares of Class A Common Stock, with the remaining 91,714 shares of Class A Common Stock withheld to cover taxes on this transaction. Also includes a grant of 100,000 restricted units, each of which represents the right to receive one share of Class A Common Stock upon vesting. (Continued in Footnote 2) The restrictions on such units are scheduled to lapse on August 15, 2021. Also includes a grant of 28,947 restricted units, 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, 2017, 2018 and 2019. In connection with the vesting on May 1, 2017, the reporting person received 4,673 shares of Class A Common Stock, with the remaining 4,976 shares of Class A Common Stock withheld to cover taxes on this transaction. In connection with the vesting on May 1, 2018, the reporting person received 4,513 shares of Class A Common Stock, with the remaining 5,136 shares of Class A Common Stock withheld to cover taxes on this transaction. The reporting person or a vehicle controlled by him is a limited partner in Ares Owners Holdings L.P. ("AOH"), the direct holder of the shares of Class A Common Stock. The shares of Class A Common Stock indirectly held by the reporting person or the vehicle are the number of shares of Class A Common Stock that he or the vehicle has a right to receive as a limited partner in AOH. /s/ Naseem Sagati Aghili, by power of attorney 2019-01-31