X0306 4 2020-03-23 0 0001176948 Ares Management Corp ARES 0001464431 McFerran Michael R 2000 AVENUE OF THE STARS 12TH FLOOR LOS ANGELES CA 90067 0 1 0 0 EVP, COO & CFO Class A Common Stock 2020-03-23 4 F 0 14554 22.71 D 759728 D 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"). 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. /s/ Naseem Sagati Aghili, by power of attorney 2020-03-25