Financial Performance - The company reported a significant increase in assets under management (AUM), reaching $X billion, representing a Y% growth compared to the previous quarter[11]. - Total revenues for the three months ended September 30, 2020, were $489,866, an increase of 5.9% compared to $466,490 for the same period in 2019[19]. - Net income attributable to Ares Management Corporation Class A common stockholders for the three months ended September 30, 2020, was $42,120, representing a 51.0% increase from $27,906 in the same period of 2019[19]. - Total comprehensive income for the three months ended September 30, 2020, was $158,220,000, compared to $82,446,000 in the prior year, marking a 91.8% increase[21]. - Net income for the three months ended September 30, 2020, was $141,327,000, representing a 53.5% increase from $91,875,000 for the same period in 2019[21]. - Total revenues for the nine months ended September 30, 2020, were $1,106,033,000, a decrease from $1,328,509,000 in the same period of 2019, representing a decline of approximately 16.7%[184]. - Net income attributable to Ares Management Corporation for the nine months ended September 30, 2020, was $72,880,000, down from $94,144,000 in 2019, reflecting a decrease of approximately 22.6%[186]. Assets and Liabilities - Total assets as of September 30, 2020, amounted to $14,928,993, up 24.0% from $12,014,196 as of December 31, 2019[17]. - Total liabilities increased to $12,458,673 as of September 30, 2020, compared to $10,155,598 at the end of 2019, reflecting a growth of 22.7%[17]. - Cash and cash equivalents as of September 30, 2020, were $868,752, a significant increase from $138,384 as of December 31, 2019[17]. - Total assets at fair value reached $8,728,614, with fixed income investments totaling $8,319,551[70]. - Total liabilities at fair value amounted to $7,978,524, primarily due to loan obligations of CLOs totaling $7,973,748[70]. Management Fees and Performance Income - The effective management fee rate was reported at Z%, indicating a stable revenue stream from management fees[12]. - Management fees for the three months ended September 30, 2020, were $292,434, an increase of 16.2% from $251,591 in the same period of 2019[19]. - Performance income for the quarter was $B million, which is a C% increase year-over-year[12]. - Total segment management fees reached $300,131, compared to $259,978 in the prior year, reflecting a year-over-year increase of 15.5%[161]. - Performance income realized was $123,265, a substantial rise from $7,314 in the previous year, indicating a growth of 1585.5%[161]. Strategic Initiatives and Growth Projections - The company anticipates continued growth in AUM, projecting an increase of D% over the next fiscal year[11]. - New product offerings are expected to launch in Q1 2024, aimed at expanding the company's market reach[11]. - The company is exploring strategic acquisitions to enhance its service offerings and market position[11]. - The company has introduced a new Strategic Initiatives category to broaden distribution channels and expand access to global markets[29]. Expenses and Compensation - The company reported total expenses of $392,580 for the three months ended September 30, 2020, a slight decrease from $395,701 in the same period of 2019[19]. - Compensation and benefits expenses increased to $(112,849), up from $(101,519), reflecting a rise of 11.5%[161]. - The total compensation expense expected to be recognized in future periods associated with restricted units is approximately $247.7 million as of September 30, 2020[139]. Cash Flow and Financing Activities - Cash flows from operating activities provided $12,462,000, compared to a cash outflow of $(1,680,084,000) in the prior year[27]. - Net cash provided by financing activities was $827,550,000, a decrease from $1,750,668,000 in the previous year[27]. - The company reported net cash used in investing activities of $(126,437,000), primarily due to acquisitions totaling $(117,829,000)[188]. Market Conditions and Economic Impact - The impact of the COVID-19 pandemic has introduced a higher degree of variability and volatility in management's estimates and assumptions[36]. - Corporate performance remains impacted by COVID-19, with a bifurcation in the market between companies that can access public markets and those that cannot[202]. - Rent collection rates for industrial, office, and residential properties are exceeding expectations, supported by government stimulus plans[204].

Ares Management Corporation (NYSE:ARES) Q3 2020 Earnings Conference Call October 28, 2020 12:00 PM ET Company Participants Carl Drake - Investor Relations Michael Arougheti - Chief Executive Officer Michael McFerran - Chief Operating Officer & Chief Financial Officer Matt Cwiertnia - Co-Head of Private Equity Group Conference Call Participants Robert Lee - KBW Gerry O'Hara - Jefferies Craig Siegenthaler - Credit Suisse Ken Worthington - J.P. Morgan Mike Carrier - Bank of America Alex Blostein - Goldman Sach ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-36429 ARES MANAGEMENT CORPORATION (Exact name of Registrant as specified in its charter) Delaware 80-0962035 (State or other ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-36429 ARES MANAGEMENT CORPORATION (Exact name of Registrant as specified in its charter) (State or other jurisdiction of inc ...

Financial Data and Key Metrics Changes - The first quarter marked the 12th consecutive quarter of sequential fee-related earnings (FRE) growth, with FRE of $93.1 million, an increase of 31% from the same period last year [12][39] - Management fees reached a new record, contributing to a FRE margin of 34%, up from 32% in the previous quarter and 30% in the first quarter of 2019 [39][40] - Realized income for the quarter totaled $134.1 million, representing a 28% increase compared to the first quarter of 2019 [41] Business Line Data and Key Metrics Changes - The company reported record fee-paying assets under management (AUM) exceeding $100 billion for the first time, with a total AUM of $148.6 billion, a 9% increase from the prior year [43][44] - Fee-paying AUM increased to over $102 billion, marking a significant milestone [44] - The company ended the quarter with approximately $33 billion of dry powder available for investment [14][44] Market Data and Key Metrics Changes - The company experienced limited exposure to heavily impacted sectors such as oil and gas, travel, and leisure, with only about 1% of AUM in oil and gas exploration [19][67] - The impact of the COVID-19 pandemic is expected to unfold in three phases, with the first phase marked by severe market disruptions and the second phase characterized by significant fiscal and monetary stimulus [18][20] Company Strategy and Development Direction - The company maintains a management fee-centric business model, primarily generating revenue from permanent capital vehicles and long-dated closed-end fund structures, providing visibility to growing fee-related earnings [13] - The strategic partnership with Sumitomo Mitsui Financial Group aims to enhance distribution in the Japanese market and leverage their balance sheet for growth opportunities [34][35] - The company is focused on providing rescue capital to high-quality companies and is well-positioned to capitalize on potential strategic growth opportunities in the current market environment [16][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the current economic challenges, emphasizing a long U-shaped recovery rather than a quick snapback [48][49] - The company anticipates a prolonged period of less competition, allowing for attractive investment opportunities as the market stabilizes [21][49] - Management highlighted the importance of having robust investment sourcing and capital access capabilities to succeed in the current environment [49] Other Important Information - The company declared a second-quarter common dividend of $0.40 per share, a 25% increase over the prior year's quarterly dividend [7] - The company has at least eight large successor funds and new commingled funds in the market, targeting over $25 billion of incremental capital [25][30] Q&A Session Summary Question: Impact of fundraising timing and pace - Management indicated that fundraising is proceeding as originally scheduled, with some strategies seeing accelerated fundraising due to their suitability for the current environment [52][53] Question: Competitive landscape and bank participation - Management clarified that reduced competition is expected across the entire competitive set, with banks currently less active in underwriting and syndicating leveraged finance products [57][59] Question: Update on energy and travel sector exposure - Management reported that only about 1% of AUM is in oil and gas exploration, with a focus on renewable energy and midstream infrastructure, indicating a well-distributed exposure across the portfolio [67]

Table of Contents Securities registered pursuant to Section 12(g) of the Act: None UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-36429 ARES MANAGEMENT CORPORATION (Exact name of Registrant as s ...