X0202 SCHEDULE 13G/A 0001620263 XXXXXXXX LIVE 11 Class A common stock, par value $0.01 per share 06/30/2026 0001176948 Ares Management Corporation 03990B101 1800 Avenue of the Stars Suite 1400 Los Angeles CA 90067 Rule 13d-1(d) Ares Partners Holdco LLC b DE 0.00 107110305.00 0.00 107110305.00 107110305.00 N 32.4 OO The reported securities represent (i) 4,281,729 shares of Class A common stock, par value $0.01 per share, of the Issuer ("Class A Shares") and (ii) 102,828,576 partnership units of Ares Holdings L.P., which are convertible one for one into Class A Shares, subject to certain restrictions ("AOG Units"). The percent of class is calculated based on 227,372,228 Class A Shares outstanding on June 30, 2026, based on information provided by the Issuer, as increased by 102,828,576 Class A Shares issuable upon conversion of 102,828,576 AOG Units held by Ares Owners (as defined herein). Ares Owners Holdings L.P. b DE 0.00 107110305.00 0.00 107110305.00 107110305.00 N 32.4 PN The reported securities represent (i) 4,281,729 Class A Shares and (ii) 102,828,576 Class A Shares issuable upon conversion of 102,828,576 AOG Units. The percent of class is calculated based on 227,372,228 Class A Shares outstanding on June 30, 2026, based on information provided by the Issuer, as increased by 102,828,576 Class A Shares issuable upon conversion of 102,828,576 AOG Units held by Ares Owners (as defined herein). Ares Management Corporation 1800 Avenue of the Stars, Suite 1400, Los Angeles, CA 90067 This statement is filed by the entities and persons listed below, each of whom is referred to herein as a "Reporting Person" and together as the "Reporting Persons": 1. Ares Partners Holdco LLC ("Ares Partners") 2. Ares Owners Holdings L.P. ("Ares Owners") 1800 Avenue of the Stars, Suite 1400 Los Angeles, California 90067 See response to row 4 on each cover page hereto. See response to row 9 on each cover page hereto. The securities reported on this Schedule 13G include an aggregate of 4,281,729 Class A Shares held by Ares Owners and an aggregate of 102,828,576 AOG Units held by Ares Owners. The general partner of Ares Owners is Ares Partners. Ares Partners is managed by a board of managers, which is composed of Michael J Arougheti, R. Kipp deVeer, David B. Kaplan, Antony P. Ressler and Bennett Rosenthal (each a "Board Member" and collectively, the "Board Members"). Mr. Ressler generally has veto authority over decisions of the Board Members. Based on information reported in Statements on Schedule 13G filed by, or information received from, the 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 112,079,605 Class A Shares in the aggregate, which includes (i) 102,828,576 shares that may be acquired upon the exchange of AOG Units held by Ares Owners and (ii) 2,125,000 Class A Shares issuable to certain of the Board Members upon the vesting of restricted stock units ("RSUs"), representing an aggregate of 33.7% of the outstanding Class A Shares (based on 227,372,228 outstanding Class A Shares as of June 30, 2026, as increased by (i) 102,828,576 Class A Shares issuable in respect of 102,828,576 AOG Units held by Ares Owners and (ii) 2,125,000 Class A Shares issuable to certain of the Board Members upon the vesting of RSUs). See response to row 11 on each cover page hereto. The percentage reflected on the cover pages to this Schedule 13G is calculated based on an aggregate of 227,372,228 Class A Shares outstanding as of June 30, 2026, as reported by the Issuer, as increased by 102,828,576 Class A Shares issuable in respect of 102,828,576 AOG Units held by Ares Owners. See response to row 5 on each cover page hereto. See response to row 6 on each cover page hereto. See response to row 7 on each cover page hereto. See response to row 8 on each cover page hereto. N See Exhibit A. Y Y Y Y https://www.sec.gov/Archives/edgar/data/1620263/000110465919008758/a19-4665_8ex99d1.htm Ares Partners Holdco LLC /s/ Anton Feingold 08/13/2026 Ares Owners Holdings L.P. /s/ Anton Feingold 08/13/2026