ARES CAP CORP

CUSIP: 04010LAJ2 Class: 4.75% 01/15/18

MACKAY SHIELDS LLC's Holding History (CIK: 0000061227)

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

Q4 2015
Shares 390,000 Value ($000) $389 Avg Close — Range —
Q3 2015
Shares 11,132,000 Value ($000) $11,438 Avg Close — Range —
Q2 2015
Shares 11,132,000 Value ($000) $11,438 Avg Close — Range —
Q1 2015
Shares 11,377,000 Value ($000) $11,932 Avg Close — Range —
Q4 2014
Shares 11,377,000 Value ($000) $11,718 Avg Close — Range —
Q3 2014
Shares 11,377,000 Value ($000) $11,804 Avg Close — Range —
Q2 2014
Shares 11,377,000 Value ($000) $12,131 Avg Close — Range —
Q1 2014
Shares 6,928,000 Value ($000) $7,495 Avg Close — Range —