X0306 4 2019-11-01 0 0001176948 Ares Management Corp ARES 0001493586 Berry Ryan 2000 AVENUE OF THE STARS 12TH FLOOR LOS ANGELES CA 90067 0 1 0 0 Chief Mktg. & Strategy Officer Class A Common Stock 2019-11-01 4 A 0 125000 0 A 606614 D Class A Common Stock 2700 I By Retirement Savings Plan Class A Common Stock 7387 I By Spouse's SEP IRA Class A Common Stock 90455 I By Reporting Person & Spouse as joint tenants with right of survivorship Class A Common Stock 5003 I By IRA Class A Common Stock 46866 I By Ares Owners Holdings L.P. Granted under the Ares Management Corporation Second Amended and Restated 2014 Equity Incentive Plan (the "Equity Incentive Plan"). Each restricted unit 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 November 1, 2021, 2022, 2023 and 2024. Reflects 606,614 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. 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/ Michael Weiner, by power of attorney 2019-11-05