ARES CAPITAL MANAGEMENT II LLC sold NONE

Footnotes

In connection with the Issuer's quarterly repurchase offer for the fiscal quarter ended September 30, 2026, Ares Holdings L.P. ("Ares Holdings") tendered Class I Shares with an aggregate value of $20,000,000. On October 30, 2026, the net asset value as of September 30, 2026 was determined and, accordingly, fixed the number of Class I Shares and price per share in respect of the prior redemption request by Ares Holdings.; This statement is being filed jointly by (i) Ares Investments Holdings LLC ("Ares Investments"), (ii) Ares Holdings, (iii) Ares Holdco LLC ("Ares Holdco"), (iv) Ares Management Corporation ("Ares Management"), (v) Ares Voting LLC ("Ares Voting"), (vi) Ares Management GP LLC ("Ares Management GP"), (vii) Ares Partners Holdco LLC ("Ares Partners") and (viii) Ares Capital Management II LLC (collectively, the "Reporting Persons"). The reported securities include 2,515,348 Class I Shares directly held by Ares Holdings and 4,000 Class I Shares directly held by Ares Investments.; Ares Partners is the sole member of each of Ares Voting and Ares Management GP, which are respectively the holders of the Class B and Class C common stock of Ares Management, which common stock allows them, collectively, to generally have the majority of the votes on any matter submitted to the stockholders of Ares Management if certain conditions are met. Ares Management is the sole member of Ares Holdco, which is the general partner of Ares Holdings. The sole member of Ares Investments is Ares Holdings. Ares Partners is managed by a board of managers, which is composed of Michael J Arougheti, R. Kipp deVeer, David B. Kaplan, Antony P. Ressler and Bennett Rosenthal (collectively, the "Board Members"). Mr. Ressler generally has veto authority over the Board Members' decisions.; Each of the Reporting Persons (other than Ares Investments and Ares Holdings with respect to their respective directly held Class I Shares) and the Board Members, and the other directors, officers, partners, stockholders, members and managers of the Reporting Persons, expressly disclaims beneficial ownership of the reported securities, except to the extent of any pecuniary interest therein, and this Form 4 shall not be deemed an admission that any such person or entity is the beneficial owner of, or has any pecuniary interest in, such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purposes.