Ares European CLO XVII (Refinance): 13 December 2025

The assets securing the Notes will consist of a portfolio of primarily Senior Obligations, Mezzanine Obligations and High Yield Bonds, and will be managed by Ares Management Limited.

On 5 December 2023 (the Original Issue Date) Ares European CLO XVII issued Class A Senior Secured Floating Rate Notes due 2037, Class B Senior Secured Floating Rate Notes due 2037, Class C Senior Secured Deferrable Floating Rate Notes due 2037, Class D Senior Secured Deferrable Floating Rate Notes due 2037, Class E Senior Secured Deferrable Floating Rate Notes due 2037, Class F Senior Secured Deferrable Floating Rate Notes due 2037 and Subordinated Notes due 2037.

On 11 December 2025 (the Re-issue date) the Issuer will, subject to certain conditions, refinance the Notes by issuing Class X-R Senior Secured Floating Rate Notes due 2040, Class A-R Senior Secured Floating Rate Notes due 2040, Class B-R Senior Secured Floating Rate Notes due 2040, Class C-R Senior Secured Deferrable Floating Rate Notes due 2040, Class D-R Senior Secured Deferrable Floating Rate Notes due 2040, Class E-R Senior Secured Deferrable Floating Rate Notes due 2040 and Class F-R Senior Secured Deferrable Floating Rate Notes due 2040.

The Subordinated Notes were issued on the Original Issue Date with a principal amount outstanding of €30,100,000 and are not being offered pursuant to this Offering. However, the terms and conditions applicable to the Subordinated Notes will be amended in accordance with the Conditions of the Notes as outlined in the Offering, including by an extension of their Maturity Date to 15 January 2040.