ARES DYNAMIC CREDIT ALLOCATION FUND DECLARES A MONTHLY DISTRIBUTION OF $0.1125 PER SHARE

Ares Dynamic Credit Allocation Fund, Inc. ("ARDC" or the "Fund") (NYSE: ARDC ) announced today the declaration of its distribution for the month of July 2026 of $0.1125 per common share, payable as noted below. The following dates apply to the declared distribution: Ex-Date: July 20, 2026 Record Date: July 20, 2026 Payable Date: July 31, 2026 Per Share Amount: $0.1125 Based on the Fund's current share price of $12.82 (as of its close on July 9, 2026), the distribution represents an annualized distribution rate of approximately 10.53% (calculated by annualizing the distribution amount and dividing it by the current price). Information regarding the distribution rate is included for informational purposes only and is not necessarily indicative of future results, the achievement of which cannot be assured. The distribution rate should not be considered the yield or total return on an investment in the Fund. The timing and amount of future distributions, if any, are at the discretion of the Fund. As required by Section 19(a) of the Investment Company Act of 1940, a notice will be distributed to the Fund's stockholders in the event that a portion of a monthly distribution is derived from sources other than undistributed net investment income, such as from short-term capital gain, long-term capital gain, or return of capital. Such notices will also be posted on the Fund's website at www.arespublicfunds.com . The amounts and sources of distributions reported are only estimates and are not provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund's investment performance during the remainder of its fiscal year and may be subject to change based on tax regulations. The final determination of the source of these distributions will be made after the Fund's fiscal year end. If necessary, the Fund may elect to pay an adjusting distribution in December that inclu...