X0306 4 2020-01-21 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 2020-01-21 4 F 0 5103 37.28 D 601511 D Class A Common Stock 2020-01-21 4 A 0 8359 0 A 609870 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 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 592,281 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. Granted under 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 schedule to lapse in three equal installments on January 20, 2021, 2022 and 2023. Includes 600,640 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/ Michael Weiner, by power of attorney 2020-01-23