Ares Capital Corporation and Ares Strategic Income Fund Announce Increases in Size, Enhanced Terms and Extended Maturities for Bank-Led Revolving Credit Facilities

Both Facilities Received Maturity Extensions to May 2031 and Decreased Funded Borrowing Costs by 0.10% per Annum

Ares Capital Corporation Upsizes Facility by Approximately $170 million; Ares Strategic Income Fund Upsizes Facility by $850 Million

Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) and Ares Strategic Income Fund ("ASIF") announced today renewals, commitment increases and enhanced terms for each of their respective bank-led Revolving Credit Facilities.

Ares Capital increased the commitment on its existing credit facility by approximately $170 million to approximately $5.5 billion, decreased the funded borrowing costs by 0.10% per annum to reflect the elimination of the SOFR credit spread adjustment ("CSA"), and extended the final maturity date to May 2031 for substantially all of the facility. In addition, the facility's uncommitted accordion feature was expanded to allow for an incremental increase of up to approximately $2.7 billion in commitments under certain circumstances. The Ares Capital facility is led by JPMorgan, Bank of America, RBC, SMBC, Truist and Wells Fargo and includes a total of 40 lenders.

ASIF increased the commitment on its existing credit facility by $850 million to approximately $4.1 billion, decreased the funded borrowing costs by 0.10% per annum to reflect the elimination of the SOFR CSA, and extended the final maturity date to May 2031. In addition, the facility's uncommitted accordion feature was expanded to allow ASIF to increase the facility's overall size to a maximum of approximately $6.15 billion under certain circumstances. The ASIF facility is led by JPMorgan, Barclays, BNP Paribas, RBC, SMBC, Truist and Wells Fargo and includes a total of 24 lenders.

The other terms of the facilities remained materially unchanged.

"The successful extension of these facilities, and in particular a significant increase in new capital to the ASIF facility, underscores the depth of our relationships, the confidence that our banking partners have in Ares' direct lending credit capabilities and our long-term differentiated performance," said Scott Lem, Chief Financial Officer of Ares Capital and ASIF. "As we continue to build on Ares' more than 20-year track record, the enhanced terms of these facilities further strengthen each fund's financial flexibility to capitalize on today's attractive investing environment and continue seeking to drive attractive returns for our shareholders."

About Ares Capital Corporation

Founded in 2004, Ares Capital is a leading specialty finance company focused on providing direct loans and other investments in private middle market companies in the United States. Ares Capital's objective is to source and invest in high-quality borrowers that need capital to achieve their business goals, which oftentimes can lead to economic growth and employment. Ares Capital believes its loans and other investments in these companies can help generate attractive levels of current income and potential capital appreciation for investors. Ares Capital, through its investment manager, utilizes its extensive, direct origination capabilities and incumbent borrower relationships to source and underwrite predominantly senior secured loans but also subordinated debt and equity investments. Ares Capital has elected to be regulated as a business development company ("BDC") and was the largest publicly traded BDC by market capitalization as of March 31, 2026. Ares Capital is externally managed by a subsidiary of Ares Management Corporation, a publicly traded, leading global alternative investment manager. For more information about Ares Capital, visit www.arescapitalcorp.com.

About Ares Strategic Income Fund

ASIF is a private credit solution that benefits from Ares Management Corporation's leading global Credit platform. ASIF seeks to generate current income, the potential for capital appreciation and attractive risk-adjusted returns through market cycles. ASIF primarily invests in directly originated, senior secured, floating rate loans to U.S. companies. ASIF has elected to be regulated as a BDC and is externally managed by a subsidiary of Ares Management Corporation, a publicly traded, leading global alternative investment manager. For more information about Ares private wealth offering, please visit www.ares.com/private-wealth.

About Ares Management Corporation

Ares Management Corporation ("Ares") (NYSE:ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders' long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2026, Ares Management Corporation's global platform had over $644 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.ares.com.

Forward-Looking Statements

Statements included herein may constitute "forward-looking statements," which relate to future events or the future performance or financial condition of Ares Capital or ASIF, as applicable. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties that are likely to be affected by unknowable future events and conditions, including elements of the future that are or are not under the control of Ares Capital or ASIF, as applicable. Actual results and conditions may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Ares Capital's and ASIF's filings with the Securities and Exchange Commission. Undue reliance should not be placed on such forward-looking statements as such statements speak only as of the time when made and are based on information available to Ares Capital and ASIF as of the date hereof and are qualified in their entirety by this cautionary statement. Ares Capital and ASIF undertake no duty to update any forward-looking statements made herein now or in the future.

Additional Important Disclosures

Past performance is not a guarantee of future results. An investment in Ares Capital and ASIF involves a high degree of risk and therefore should only be undertaken by qualified investors whose financial resources are sufficient to enable them to assume these risks and to bear the loss of all or part of their investment. Ares Capital, ASIF and Ares do not guarantee any level of return or risk on investments and there can be no assurance that the investment objective of Ares Capital or ASIF will be achieved. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any security, the offer and/or sale of which can only be made by definitive offering documentation.

The foregoing descriptions of the Ares Capital facility and the ASIF facility are only summaries of the material provisions of such facilities and are qualified in their entirety by reference to the copy of the applicable facility filed as an exhibit to the current reports on Form 8-K filed with the Securities and Exchange Commission on May 26, 2026 by Ares Capital and ASIF, respectively.

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Ares Capital Investor Relations

John Stilmar or Carl Drake

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irarcc@ares.com

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