Ares Dynamic Credit Allocation Fund Appoints Paula B. Pretlow to Board of Directors

Ares Dynamic Credit Allocation Fund, Inc. (NYSE: ARDC) today announced the appointment of Paula B. Pretlow to its Board of Directors as an independent director and a member of the audit committee. Ms. Pretlow’s appointment became effective February 16, 2021.

Ms. Pretlow brings more than three decades of finance, investment management and business development leadership experience to the ARDC Board. Previously, Ms. Pretlow was a Senior Vice President at The Capital Group for 12 years, where she led the public fund business development and client relationship group. Her investment industry experience also includes senior roles at BlackRock and AXA Rosenberg as well as fixed income sales at Credit Suisse. Earlier in her career, Ms. Pretlow worked at GATX Capital focusing on the creation of a secondary market for capital equipment leases and portfolios. Ms. Pretlow began her career as a corporate banking officer at Wells Fargo Bank.

“We are very pleased to welcome Paula to the ARDC board and its audit committee,” said David A. Sachs, Director and Chairman of the Board of Ares Dynamic Credit Allocation Fund, Inc. “Paula is an accomplished industry veteran in the investment management sector and has established a track record of helping company leaders maximize value in their own organizations. We are confident that she will be a valuable contributor to the ARDC board and audit committee.”

Ms. Pretlow holds an MBA in finance and economics from Kellogg School of Management, a BA in political science from Northwestern University, and is a 2017 Fellow of Stanford University’s Distinguished Careers Institute. Amongst other awards and recognition for her leadership in the community, Ms. Pretlow is the recipient of the Aiming High Award from Legal Momentum, the nation’s oldest legal advocacy organization dedicated to advancing the rights of women and girls.

About Ares Dynamic Credit Allocation Fund, Inc.

Ares Dynamic Credit Allocation Fund, Inc. (“ARDC”) is a closed-end management company that is externally managed by Ares Capital Management II LLC, a subsidiary of Ares Management Corporation. ARDC seeks to provide an attractive level of total return primarily through current income and, secondarily, through capital appreciation. ARDC invests in a broad, dynamically-managed portfolio of credit investments. There can be no assurance that ARDC will achieve its investment objective. ARDC’s net asset value may be accessed through its NASDAQ ticker symbol, XADCX. Additional information is available at www.arespublicfunds.com.

About Ares Management Corporation

Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager operating integrated groups across Credit, Private Equity, Real Estate and Strategic Initiatives. Ares Management’s investment groups collaborate to deliver innovative investment solutions and consistent, attractive investment returns for fund investors throughout market cycles. As of December 31, 2020, Ares Management's global platform had approximately $197 billion of assets under management with more than 1,450 employees operating across North America, Europe and Asia Pacific. For more information, please visit www.aresmgmt.com.

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