SCHEDULE 13G/A 0001104659-19-008755 0001025978 XXXXXXXX LIVE 9 Class A common stock, par value $0.01 per share 12/31/2025 0001176948 Ares Management Corporation 03990B101 1800 Avenue of the Stars Suite 1400 Los Angeles CA 90067 Rule 13d-1(d) Antony P. Ressler b X1 2325153.00 109360850.00 2325153.00 109360850.00 111686003.00 N 34.2 IN The reported shares of sole voting and dispositive power represent 2,325,153 shares of Class A common stock, par value $0.01 per share, of the Issuer ("Class A Shares") held by a charitable foundation for which the Reporting Person serves as trustee. The reported shares of shared voting and dispositive power represent (i) 4,281,729 Class A Shares and (ii) 105,079,121 partnership units of Ares Holdings L.P., which are convertible one for one into Class A Shares, subject to certain restrictions ("AOG Units"), all of which are held by Ares Owners Holdings L.P. ("Ares Owners"). The percent of class is calculated based on 221,955,340 Class A Shares outstanding on December 31, 2025, based on information provided by the Issuer, as increased by 105,079,121 Class A Shares issuable upon conversion of 105,079,121 AOG Units held by Ares Owners. Ares Management Corporation 1800 Avenue of the Stars Suite 1400 Los Angeles, CA, 90067 This statement is filed by Antony P. Ressler, referred to herein as the "Reporting Person." 1800 Avenue of the Stars, Suite 1400 Los Angeles, CA 90067 See response to Item 4 on the cover page. Y See response to Item 9 on the cover page. The reported securities include 4,281,729 Class A Shares and 105,079,121 AOG Units held by Ares Owners. Ares Partners Holdco LLC ("Ares Partners") is the general partner of Ares Owners. Ares Partners is managed by a board of managers, which is composed of the Reporting Person, Michael J Arougheti, R. Kipp deVeer, David B. Kaplan and Bennett Rosenthal (each, a "Board Member" and collectively, the "Board Members"). The Reporting Person generally has veto authority over decisions of the Board Members. Ares Owners holds 2,235,625 Class A Shares and 49,764,375 AOG Units on behalf of the Reporting Person, or on behalf of a vehicle controlled by him, as a limited partner of Ares Owners. In addition, the reported securities include 2,325,153 Class A Shares held by a charitable foundation for which the Reporting Person serves as trustee. Based on information reported in Statements on Schedule 13G filed by, or information received from, Ares Owners and the other Board Members, the Class A Shares held by Ares Owners, if aggregated with other Class A Shares beneficially owned by each of the individual Board Members, would equal 112,046,064 Class A Shares in the aggregate, which includes 105,079,121 shares that may be acquired upon the exchange of AOG Units held by Ares Owners, representing an aggregate of 34.2% of the outstanding Class A Shares (based on 221,955,340 outstanding shares as of December 31, 2025, as increased by (i) 105,079,121 Class A Shares issuable in respect of 105,079,121 AOG Units held by Ares Owners and (ii) 246,061 Class A Shares issued to certain of the Board Members on January 31, 2026 upon the vesting of restricted stock units). The Reporting Person expressly disclaims the existence of, or membership in, a "group" within the meaning of Section 13(d)(3) of the Act and Rule 13d-5(b) thereunder with Ares Owners, Ares Partners, and the other Board Members, as well as beneficial ownership with respect to any Class A Shares beneficially owned by Ares Owners, Ares Partners, or the other Board Members, and neither the filing of this Statement on Schedule 13G nor any of its contents shall be deemed to constitute an admission by the Reporting Person that he is the beneficial owner of any of the Class A Shares referred to herein for purposes of Section 13(d) of the Act. See response to Item 11 on the cover page. The percentage reflected on the cover page to this Schedule 13G is calculated based on an aggregate of 221,955,340 Class A Shares outstanding as of December 31, 2025, as reported by the Issuer, as increased by 105,079,121 Class A Shares issuable in respect of 105,079,121 AOG Units held by Ares Owners. See response to Item 5 on the cover page. See response to Item 6 on the cover page. See response to Item 7 on the cover page. See response to Item 8 on the cover page. Y N The limited partners of Ares Owners have the right to receive dividends from, or proceeds from the sale of, the Class A Shares that are held of record by Ares Owners on behalf of such limited partner. Ares Owners holds greater than 5% of the Class A Shares on behalf of the Reporting Person, or on behalf of a vehicle he controls. No other person has the right to receive dividends from, or the proceeds from the sale of, more than five percent of the Class A Shares reported on this Schedule 13G. Y Y Y Y Antony P. Ressler /s/ Antony P. Ressler 02/17/2026