Ares Management Corp

(Former name, former address and former fiscal year, if changed since last report)

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Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 1.01 Entry into a Material Definitive Agreement.

On April 22, 2025, Ares Holdings L.P., a Delaware limited partnership (“Ares Holdings” or the “Borrower”) and certain subsidiaries of Ares Management Corporation (the “Company”) entered into Amendment No. 13 (the “Credit Facility Amendment”) to the Sixth Amended and Restated Credit Agreement, dated as of April 21, 2014 (as amended through and including the Credit Facility Amendment, the “Credit Agreement”), by and among the Borrower, the guarantors party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as agent.

The Credit Facility Amendment, among other things, (i) extends the maturity of the credit facility under the Credit Agreement to April 22, 2030, (ii) increases the revolver commitments under the Credit Agreement to $1,840,000,000 and the accordion feature to $660,000,000, for an aggregate amount not to exceed $2,500,000,000, (iii) provides a sub-limit for the issuance of swingline loans up to an aggregate amount of $75,000,000 (with the amount available for borrowing under the Credit Facility Amendment being reduced by any swingline loans issued), (iv) modifies certain covenant restrictions and (v) makes certain other technical amendments to the provisions of the Credit Agreement.

The Credit Facility Amendment reduces (i) the applicable margin for term benchmark loans, RFR loans, swingline loans and letters of credit from a range of 0.750% to 1.250% to a range of 0.650% to 1.150%, in each case depending on the Company’s senior long term unsecured debt ratings; (ii) the applicable margin for base rate loans and swingline loans from a range of 0.000% to 0.250% to a range of 0.000% to 0.150%, in each case depending on the Company’s senior long term unsecured debt ratings; and (iii) the unused commitment fee from a range of 0.060% to 0.150% to a range of 0.050% to 0.0140%, in each case depending on the Company’s senior long term unsecured debt ratings.

A copy of the Credit Facility Amendment is attached to this Current Report on Form 8-K as Exhibit 10.1 and is incorporated by reference into this Item 1.01 as though fully set forth herein. The foregoing summary description of the Credit Facility Amendment is not intended to be complete and is qualified in its entirety by the complete text of the Credit Facility Amendment.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 is hereby incorporated by reference into this Item 2.03.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits: