Ares Capital Corporation (the Company), along with its investment adviser and administrator, has entered into new equity distribution agreements with five sales agents: Truist Securities, Inc., Mizuho Securities USA LLC, RBC Capital Markets, LLC, Regions Securities LLC, and SMBC Nikko Securities America, Inc. The agreements allow the Company to issue and sell shares of its common stock with an aggregate offering price of up to $1,500,000,000. Sales of shares may occur in negotiated transactions or 'at-the-market' offerings on the NASDAQ Global Select Market or through market makers. The sales agents will receive a commission of up to 1.5% of the gross sales price for shares sold through them. The Company is not obligated to sell any shares and can suspend the offering at any time, with actual sales depending on market conditions, stock price, and capital needs. These new agreements supersede and terminate previous equity distribution agreements dated February 5, 2025, with Truist, Mizuho, RBC, and Regions.