(1) All data as of June 30, 2023. Invested capital includes relevant investments made by AIO and Ares Direct Lending, including Ares Capital Corporation, that are consistent with AIO's investment mandate

(2) Capital deployed includes relevant investment made by Ares EIF as well as Ares Direct Lending, including Ares Capital Corporation, that are consistent with the investment mandate

(3) Note: There may be other award categories for which Ares, its funds or its portfolio companies were considered but did not receive awards.  The awards noted herein relate only to selected funds/strategies and may not be representative of any given client's experience and should not be viewed as indicative of Ares' past performance or its funds' future performance.  All investments involve risk, including loss of principal.

Infrastructure Investors selected Ares Infrastructure Opportunities for Fund Manager of the Year in North America, Renewables Investor of the Year in North America and Renewables Deal of the Year in North America for the year 2019.  Ares received the awards represented by survey participants that voted independently. In addition, survey participants could nominate another firm not listed in the category.  Infrastructure Investors is a publication that covers the flow of private capital into infrastructure projects around the world, as published by PEI, which is a group focused exclusively on private equity, private debt, private real estate and infrastructure and agri-investing.  Ares was selected as the winner of the aforementioned awards through a selection process by those persons choosing to vote in each category, which may include firms that submitted for awards, but which are not allowed to vote for themselves.  Ares did submit for these categories but did not pay a fee to participate in the selection process.  The selection of Ares Infrastructure and Power Group to receive these awards was based in part on subjective criteria and a potentially limited universe of competitors.