SCHEDULE 13G/A 0001104659-25-048634 0001490706 XXXXXXXX LIVE 1 Common Shares 09/30/2025 0002031750 ARES CORE INFRASTRUCTURE FUND 04021D108 245 Park Avenue, 44th Floor New York NY 10167 Rule 13d-1(d) Ares Holdings L.P. b DE 0.00 1351421.00 0.00 1351421.00 1351421.00 N 2.6 PN The calculation of the foregoing percentage is based on 51,867,397 Class I common shares of beneficial interest, par value $0.01 per share (the "Common Shares") of Ares Core Infrastructure Fund (the "Fund") outstanding as of August 31, 2025, based on information received from the Fund. Ares Management Holdings L.P. b DE 1000.00 0.00 1000.00 0.00 1000.00 N 0.0 PN The calculation of the foregoing percentage is based on 51,867,397 Common Shares of the Fund outstanding as of August 31, 2025, based on information received from the Fund. Ares Holdco LLC b DE 0.00 1352421.00 0.00 1352421.00 1352421.00 N 2.6 OO The calculation of the foregoing percentage is based on 51,867,397 Common Shares of the Fund outstanding as of August 31, 2025, based on information received from the Fund. Ares Management Corp b DE 0.00 1352421.00 0.00 1352421.00 1352421.00 N 2.6 CO The calculation of the foregoing percentage is based on 51,867,397 Common Shares of the Fund outstanding as of August 31, 2025, based on information received from the Fund. Ares Voting LLC b DE 0.00 1352421.00 0.00 1352421.00 1352421.00 N 2.6 OO The calculation of the foregoing percentage is based on 51,867,397 Common Shares of the Fund outstanding as of August 31, 2025, based on information received from the Fund. Ares Partners Holdco LLC b DE 0.00 1352421.00 0.00 1352421.00 1352421.00 N 2.6 OO The calculation of the foregoing percentage is based on 51,867,397 Common Shares of the Fund outstanding as of August 31, 2025, based on information received from the Fund. Ares Management GP LLC b DE 0.00 1352421.00 0.00 1352421.00 1352421.00 N 2.6 OO The calculation of the foregoing percentage is based on 51,867,397 Common Shares of the Fund outstanding as of August 31, 2025, based on information received from the Fund. ARES CORE INFRASTRUCTURE FUND 245 Park Avenue, 44th Floor New York, NY, 10167 This Schedule 13G is being filed jointly by the following (collectively, the "Reporting Persons"): (i) Ares Holdings L.P. ("Ares Holdings"); (ii) Ares Management Holdings L.P. ("Ares Management Holdings"); (iii) Ares Holdco LLC ("Ares Holdco"); (iv) Ares Management Corporation ("Ares Management"); (v) Ares Voting LLC ("Ares Voting"); (vi) Ares Partners Holdco LLC ("Ares Partners"); and (vii) Ares Management GP LLC ("Ares Management GP"). The address of the principal business and principal office of each of the Reporting Persons is c/o Ares Management LLC, 1800 Avenue of the Stars, Suite 1400, Los Angeles, California 90067. Each of the Reporting Persons is organized in the State of Delaware. Y See responses to Item 9 on each cover page. The reported securities represent 1,351,421 Common Shares directly held by Ares Holdings and 1,000 Common Shares directly held by Ares Management Holdings. The general partner of Ares Holdings and Ares Management Holdings is Ares Holdco. The sole member of Ares Holdco is Ares Management. Ares Management GP is the sole holder of the Class B common stock, $0.01 par value per share, of Ares Management (the "Ares Class B Common Stock") and Ares Voting is the sole holder of the Class C common stock, $0.01 par value per share, of Ares Management (the "Ares Class C Common Stock"). The sole member of both Ares Management GP and Ares Voting 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 (collectively, the "Board Members"). Mr. Ressler generally has veto authority over decisions of the Board Members. See responses to Item 11 on each cover page. The reported securities represent 1,000 Common Shares directly held by Ares Management Holdings and 1,351,421 Common Shares directly held by Ares Holdings, which represent 0.00002% and 2.60553% respectively of the Common Shares outstanding as of August 31, 2025, based on information received from the Fund. All share amounts reflected in this Statement have been rounded to the nearest whole Common Share. See responses to Item 5 on each cover page. See responses to Item 6 on each cover page. See responses to Item 7 on each cover page. See responses to Item 8 on each cover page. N Y Y Y Y Y Y 99.1 Joint Filing Agreement (incorporated by reference to Exhibit 99.1 to Schedule 13G filed on May 14, 2025) Ares Holdings L.P. By: Ares Holdco LLC Its: General Partner, /s/ Naseem Sagati Aghili 10/06/2025 Ares Management Holdings L.P. By: Ares Holdco LLC Its: General Partner, /s/ Naseem Sagati Aghili 10/06/2025 Ares Holdco LLC /s/ Naseem Sagati Aghili 10/06/2025 Ares Management Corp /s/ Naseem Sagati Aghili 10/06/2025 Ares Voting LLC By: Ares Partners Holdco LLC Its: Sole Member, /s/ Naseem Sagati Aghili 10/06/2025 Ares Partners Holdco LLC /s/ Naseem Sagati Aghili 10/06/2025 Ares Management GP LLC /s/ Naseem Sagati Aghili 10/06/2025