ARES MANAGEMENT CORPORATION

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

Summit Trail Advisors, LLC's Holding History (CIK: 0001698478)

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

Q4 2025

Shares 3,102 Value ($000) $501 Avg Close $154.95 Range $138.30 - $180.02

Q3 2025

Shares 4,084 Value ($000) $653 Avg Close $178.28 Range $153.51 - $192.79

Q2 2025

Shares 2,139 Value ($000) $370 Avg Close $155.27 Range $108.50 - $173.43

Q1 2025

Shares 2,570 Value ($000) $377 Avg Close $168.35 Range $134.55 - $195.10

Q4 2024

Shares 1,273 Value ($000) $225 Avg Close $165.33 Range $147.85 - $179.17

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	3,102	$501	$154.95	$138.30 - $180.02
Q3 2025	4,084	$653	$178.28	$153.51 - $192.79
Q2 2025	2,139	$370	$155.27	$108.50 - $173.43
Q1 2025	2,570	$377	$168.35	$134.55 - $195.10
Q4 2024	1,273	$225	$165.33	$147.85 - $179.17