ARES CAPITAL CORP

Ticker: ARCC CUSIP: 04010L103 Class: COM

Philadelphia Financial Management of San Francisco, LLC's Holding History (CIK: 0001351407)

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

Q3 2022

Shares 394,913 Value ($000) $6,666 Avg Close $13.92 Range $12.26 - $14.87

Q2 2019

Shares 522,034 Value ($000) $9,365 Avg Close $9.39 Range $9.08 - $9.82

Q1 2019

Shares 751,791 Value ($000) $12,886 Avg Close $8.68 Range $7.88 - $9.11

Q4 2018

Shares 1,083,778 Value ($000) $16,885 Avg Close $8.36 Range $7.47 - $8.87

Q3 2018

Shares 978,912 Value ($000) $16,827 Avg Close $8.47 Range $8.03 - $8.77

Q2 2018

Shares 967,983 Value ($000) $15,923 Avg Close $7.94 Range $7.42 - $8.28

Q1 2018

Shares 846,924 Value ($000) $13,441 Avg Close $7.48 Range $7.06 - $7.79

Q1 2017

Shares 412,488 Value ($000) $7,169 Avg Close $7.44 Range $6.98 - $7.70

Q2 2014

Shares 649,461 Value ($000) $11,599 Avg Close $5.65 Range $5.39 - $6.00

Q4 2013

Shares 313,963 Value ($000) $5,579 Avg Close $5.52 Range $5.29 - $5.75

Q3 2013

Shares 842,228 Value ($000) $14,562 Avg Close $5.37 Range $5.17 - $5.58

Q2 2013

Shares 1,008,819 Value ($000) $17,352 Avg Close $5.23 Range $4.93 - $5.49

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2022	394,913	$6,666	$13.92	$12.26 - $14.87
Q2 2019	522,034	$9,365	$9.39	$9.08 - $9.82
Q1 2019	751,791	$12,886	$8.68	$7.88 - $9.11
Q4 2018	1,083,778	$16,885	$8.36	$7.47 - $8.87
Q3 2018	978,912	$16,827	$8.47	$8.03 - $8.77
Q2 2018	967,983	$15,923	$7.94	$7.42 - $8.28
Q1 2018	846,924	$13,441	$7.48	$7.06 - $7.79
Q1 2017	412,488	$7,169	$7.44	$6.98 - $7.70
Q2 2014	649,461	$11,599	$5.65	$5.39 - $6.00
Q4 2013	313,963	$5,579	$5.52	$5.29 - $5.75
Q3 2013	842,228	$14,562	$5.37	$5.17 - $5.58
Q2 2013	1,008,819	$17,352	$5.23	$4.93 - $5.49