Public Funds Managed by Ares and Affiliates

Ares public funds allow retail investors to access the expertise of the Ares platform. Ares or one of its affiliates serve as Investment Adviser.

The Broader Ares Firm

The funds’ investment advisers are subsidiaries and/or affiliates of Ares Management, L.P. (“Ares”), a global alternative asset manager. ARDC is managed by Ares Capital Management II LLC, an affiliate of Ares. ARCC is managed by Ares Capital Management LLC, a subsidiary of Ares. ARCC’s portfolio company, Ivy Hill Asset Management, L.P., manages ACSF. ACRE is managed by Ares Commercial Real Estate Management LLC, a subsidiary of Ares.

Ares Dynamic Credit Allocation Fund

Ares Dynamic Credit Allocation Fund (NYSE: “ARDC”) is a closed end management investment company that seeks to provide an attractive level of total return, primarily through current income and, secondarily, through capital appreciation.(1) The Fund invests primarily in a broad, dynamically managed portfolio of (i) senior secured loans (“Senior Loans”) made primarily to companies whose debt is rated below investment grade; (ii) corporate bonds (“Corporate Bonds”) that are primarily high yield issues rated below investment grade; (iii) other fixed-income instruments of a similar nature that may be represented by derivatives; and (iv) securities of collateralized loan obligations (“CLOs”).

Ares Capital Corporation

Ares Capital Corporation (“ARCC”) is a leading specialty finance company that provides one-stop solutions to meet the distinct and underserved financing needs of private middle-market companies across diverse industries. ARCC is the largest business development company by both market capitalization and total assets, with approximately $12.0 billion in total assets (NASDAQ: ARCC).

Ares Commercial Real Estate Corporation

Ares Commercial Real Estate Corporation (“ACRE”) is a publicly traded specialty finance company and real estate investment trust (“REIT”) (NYSE:ACRE). ACRE provides one-stop solutions to meet the distinct and underserved financing needs of middle-market commercial real estate, which ACRE generally defines as assets with values of $15-$250 million.

American Capital Senior Floating, Ltd.

American Capital Senior Floating, Ltd. (NASDAQ:ACSF) (“ACSF”) is an externally managed, non-diversified closed-end investment management company that invests primarily in first lien and second lien floating rate loans to large market, U.S. based companies and invests in equity tranches of CLOs. ACSF is externally managed by Ivy Hill Asset Management, L.P., a wholly owned portfolio company of ARCC.

CION Ares Diversified Credit Fund

CION Ares Diversified Credit Fund (“CADC”) is registered under the Investment Company Act of 1940 and operates as a continuously offered, closed-end interval fund. CADC seeks to invest in a diversified portfolio of liquid and illiquid asset classes throughout the global credit spectrum. CADC is advised by CION Ares Management, LLC, a joint venture between CION Investments and an affiliate of Ares Management, L.P. (NYSE: ARES).

(1) There can be no assurance that the Fund will be able to achieve its investment objective or structure its investment portfolio as anticipated.