X0306 4 2020-03-26 0 0001652362 Infrastructure & Energy Alternatives, Inc. IEA 0001259313 ARES MANAGEMENT LLC 2000 AVENUE OF THE STARS 12TH FLOOR LOS ANGELES CA 90067 1 0 1 0 0001536937 Ares Management Holdings L.P. 2000 AVENUE OF THE STARS 12TH FLOOR LOS ANGELES CA 90067 1 0 1 0 0001669983 Ares Holdco LLC 2000 AVENUE OF THE STARS 12TH FLOOR LOS ANGELES CA 90067 1 0 1 0 0001620317 Ares Holdings Inc. 2000 AVENUE OF THE STARS 12TH FLOOR LOS ANGELES CA 90067 1 0 1 0 0001176948 Ares Management Corp 2000 AVENUE OF THE STARS 12TH FLOOR LOS ANGELES CA 90067 1 0 1 0 0001620264 Ares Management GP LLC 2000 AVENUE OF THE STARS 12TH FLOOR LOS ANGELES CA 90067 1 0 1 0 0001761656 Ares Voting LLC 2000 AVENUE OF THE STARS 12TH FLOOR LOS ANGELES CA 90067 1 0 1 0 0001620263 Ares Partners Holdco LLC 2000 AVENUE OF THE STARS 12TH FLOOR LOS ANGELES CA 90067 1 0 1 0 Common Stock, $0.0001 par value per share 2020-03-26 4 A 0 40135 0 A 40135 D Represents 40,135 restricted stock units granted to Matthew Underwood, Principal at Ares Management LLC, as a director of Infrastructure and Energy Alternatives, Inc. (the "Issuer"). Each restricted stock unit represents the right to receive one share of common stock upon vesting. Vesting of the restricted stock units will occur on March 26, 2021, the first anniversary of the grant date. Ares Management LLC, on behalf of its affiliated funds, investment vehicles and/or managed accounts, designated Mr. Underwood to be appointed to the Issuer's board of directors on March 10, 2020. Pursuant to an agreement between Ares Management LLC and Mr. Underwood, Mr. Underwood has agreed to pay Ares Management LLC all of his director compensation, and has instructed the Issuer to pay all such compensation directly to Ares Management LLC. Accordingly, Ares Management LLC is the direct holder of the 40,135 restricted stock units granted to Mr. Underwood on March 26, 2020. The sole member of Ares Management LLC is Ares Management Holdings L.P. ("Ares Management Holdings") and the general partner of Ares Management Holdings is Ares Holdco LLC ("Ares Holdco"). The sole member of Ares Holdco is Ares Holdings Inc. ("Ares Holdings"). The sole stockholder of Ares Holdings is Ares Management Corporation ("Ares Management"). Ares Management GP LLC ("Ares Management GP") is the sole holder of the Class B common stock, $0.01 par value per share, of Ares Management (the "Class B Common Stock") and Ares Voting LLC ("Ares Voting") is the sole holder of the Class C common stock, $0.01 par value per share, of Ares Management (the "Class C Common Stock"). Pursuant to Ares Management's Certificate of Incorporation in effect as of the date of this Form 4, the holders of the Class B Common Stock and the Class C Common Stock, collectively, will generally have the majority of the votes on any matter submitted to the stockholders of Ares Management if certain conditions are met. (continued in footnote 4) The sole member of both Ares Management GP and Ares Voting is Ares Partners Holdco LLC ("Ares Partners" and together with Ares Voting, Ares Management GP, Ares Management, Ares Holdings, Ares Holdco, Ares Management Holdings and Ares Management LLC, the "Ares Entities"). Ares Partners is managed by a board of managers, which is composed of Michael J Arougheti, Ryan Berry, R. Kipp deVeer, David B. Kaplan, Michael R. McFerran, Antony P. Ressler and Bennett Rosenthal (collectively, the "Board Members"). (continued in footnote 5) Mr. Ressler generally has veto authority over Board Members' decisions. Each of the Ares Entities and the Board Members and the other directors, officers, partners, stockholders, members and managers of the Ares Entities expressly disclaims beneficial ownership of these securities, except to the extent of any pecuniary interest therein, and this Form 4 shall not be deemed an admission that any such person or entity is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purposes. The address of each Ares Entity is c/o Ares Management LLC, 2000 Avenue of the Stars, 12th Floor, Los Angeles, CA 90067. Ares Management LLC, on behalf of its affiliated funds, investment vehicles and/or managed accounts, designated Matthew Underwood to be appointed to the board of directors of the Issuer, and Mr. Underwood became a director effective March 10, 2020. Accordingly, the Reporting Persons listed hereon may be deemed to be a director by deputization for purposes of Section 16 of the Securities and Exchange Act of 1934. ARES MANAGEMENT LLC By: Naseem Sagati Aghili Its: Authorized Signatory 2020-03-30 ARES MANAGEMENT HOLDINGS L.P. By: ARES HOLDCO LLC Its: General Partner By: Naseem Sagati Aghili Its: Authorized Signatory 2020-03-30 ARES HOLDCO LLC By: Naseem Sagati Aghili Its: Authorized Signatory 2020-03-30 ARES HOLDINGS INC. By: Naseem Sagati Aghili Its: Authorized Signatory 2020-03-30 ARES MANAGEMENT CORPORATION By: Naseem Sagati Aghili Its: Authorized Signatory 2020-03-30 ARES VOTING LLC By: ARES PARTNERS HOLDCO LLC Its: Sole Member By: Naseem Sagati Aghili Its: Authorized Signatory 2020-03-30 ARES MANAGEMENT GP LLC By: Naseem Sagati Aghili Its: Authorized Signatory 2020-03-30 ARES PARTNERS HOLDCO LLC By: Naseem Sagati Aghili Its: Authorized Signatory 2020-03-30