CION Ares Management LLC (“CAM”), a joint venture between affiliates of CION Investments (“CION”), a leading manager and distributor of alternative investment solutions for individual investors, and Ares Management Corporation (“Ares”), a leading global alternative investment manager, announced that the CION Ares Diversified Credit Fund (“CADC” or the “Fund”) base distribution rate will increase for all share classes. CAM is also pleased to announce the Fund recently surpassed $4 billion in total assets under management.

The annualized base distribution rate for Class I, the Fund’s largest share class, will reflect a 5.00% increase effective October 1, 2023. This increase to the base distribution rate follows the special distribution rate increase that became effective in July 2023 and currently expires on June 30, 2024, unless otherwise extended. As of the Fund’s I share net asset value on August 31, 2023, the new combined base and special yield will be 9.35%. Other share classes may be available at certain intermediaries.

This most recent distribution increase, which is the fourth overall this year and the third increase to the base distribution rate in 2023, reflects the confidence of management in the Fund’s prudent investment strategy and ability to maintain a consistent level of income.

CION co-CEO Michael A. Reisner noted, “We are extremely pleased to reach the $4 billion AUM milestone. CADC was launched in 2017, from a belief that individual investors should have access to the entire credit spectrum through their financial advisors. The success of the Fund’s continual asset growth over the last six-plus years speaks to our ability to consistently help these investors achieve their financial goals with the same benefits institutions seek from the range of credit alternatives, including private credit: income, stability, and less portfolio volatility through diversification away from public markets.”

CADC invests in a diversified pool of illiquid and liquid credit investments, seeking superior risk-adjusted returns across various market cycles in a continuously offered interval fund structure. The Fund employs a dynamic asset allocation framework, leveraging the extensive operational resources, infrastructure and origination network of Ares. The Fund is currently distributed through a broad universe of RIAs, independent broker-dealers, and wirehouses.

Mark Gatto, CION co-CEO added, “In the last few years, the mainstreaming of alternatives has accelerated as market volatility has increased. With rates higher-for-longer and an uncertain economic outlook, the Fund’s proven success through all phases of the business cycle offers a compelling value proposition. We are thankful and proud of the enormous support we have received from our distribution partners.”

ABOUT CION INVESTMENTS

CION Investments is an open-source solutions provider and a leading manager and distributor of alternative investment solutions designed to redefine the way individual investors can build their portfolios and help meet their long-term investment goals. CION Investments currently sponsors, among other products, CION Investment Corporation (NYSE: CION), a leading publicly listed business development company that currently manages approximately $1.8 billion in assets, and also sponsors, through CION Ares Management, the CION Ares Diversified Credit Fund, a globally diversified interval fund that currently manages approximately $4.1 billion in assets.

For more information, please visit www.cioninvestments.com.

ABOUT ARES MANAGEMENT CORPORATION

Ares Management Corporation is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate, and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2023, Ares Management Corporation's global platform had approximately $378 billion of assets under management with more than 2,600 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

FORWARD-LOOKING STATEMENTS

The information in this press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements are identified by words such as "may," "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "would," "could," "should," and variations of these words and similar expressions, including references to assumptions, forecasts of future results, shareholder diversification, institutional research coverage and availability and access to capital. These statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. CADC undertakes no obligation to update any forward-looking statements contained herein to conform the statements to actual results or changes in its expectations.

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