ARES MANAGEMENT CORPORATION

Ticker: ARES CUSIP: 03990B101 Class: CL A COM STK

ADAGE CAPITAL PARTNERS GP, L.L.C.'s Holding History (CIK: 0001165408)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 152,000 Value ($000) $24,568 Avg Close $154.95 Range $138.30 - $180.02

Q3 2025

Shares 145,100 Value ($000) $23,200 Avg Close $178.28 Range $153.51 - $192.79

Q4 2024

Shares 232,000 Value ($000) $41,071 Avg Close $165.33 Range $147.85 - $179.17

Q3 2024

Shares 45,000 Value ($000) $7,013 Avg Close $139.75 Range $123.15 - $154.86

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	152,000	$24,568	$154.95	$138.30 - $180.02
Q3 2025	145,100	$23,200	$178.28	$153.51 - $192.79
Q4 2024	232,000	$41,071	$165.33	$147.85 - $179.17
Q3 2024	45,000	$7,013	$139.75	$123.15 - $154.86