Presentation to Vermont Pension Investment Committee

Overview of Ares Management With approximately $227 billion¹ in assets under management, Ares Management Corporation is a global alternative investment manager operating integrated groups across Credit, Private Equity, Real Estate, Secondary Solutions and Strategic Initiatives Profile Founded AUM Employees Investment Professionals Global Offices Direct Institutional Relationships Listing: NYSE - Market Capitalization The Ares Edge Founded with consistent credit-based approach to investments 20+ year track record of compelling risk adjusted returns through market cycles 1997 $227bn¹ 1,600+² 565+² 25+ 1,125+ ~$14.5bn³ Deep management team with integrated and collaborative approach Pioneer and a leader in leveraged finance and private credit AUM Strategies Global Footprint4 Credit $151.1bn Direct Lending Liquid Credit Alternative Credit Private Equity $29.0bn Corporate Private Equity Infrastructure and Power Special Opportunities Real Estate 1. Includes approximately $19.6 billion of AUM as of March 31, 2021 pro forma for the acquisition of Landmark Partners, which closed on June 2, 2021. 2. Includes approximately 150 employees and 43 investment professionals pro forma for the acquisition of Landmark partners, which closed on June 2, 2021. 3. As of May 28 2021. $17.1bn Real Estate Equity Real Estate Debt Secondary Solutions Note: As of March 31, 2021. AUM amounts include funds managed by Ivy Hill Asset Management, LP., a wholly owned portfolio company of Ares Capital Corporation and registered investment adviser. Past performance is not indicative of future results. 4. Jakarta, Mumbai and New Delhi offices are operated by third parties with whom Ares SSG maintains an ongoing relationship relating to the sourcing, acquisition and/or management of investments. 5. AUM managed by Ares Insurance Solutions excludes assets which are sub-advised by other Ares investment groups or invested in Ares funds and investment vehicles. Confidential - Not for Publication or Distribution $19.6bn Private Equity Real Estate Infrastructure Strategic Initiatives $9.9bn Ares SSG Ares Insurance Solutions5 Ares Acquisition Corporation ØARES

View entire presentation