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OFFICIAL PRESS RELEASE

CION Ares Diversified Credit Fund Reaches Milestone Six-Year Track Record

CION Ares Management LLC, a joint venture between affiliates of CION Investments (“CION”), a leading manager 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”) has reached a milestone six-year track record.

The Fund was incepted on January 26, 2017, and has a history of consistent asset growth and a strong track record of creating shareholder value. As of December 31, 2022, CADC had approximately $3.6 billion in total managed assets, and in 2022 the annualized distribution rate of the Fund’s Class I shares increased more than 26%, from $1.39 per share to $1.76 per share.

Credit alternatives have seen strong demand over the last several years as investors continue to seek sources of income that can smooth portfolio volatility through diversification away from public markets.

CION Co-CEO Michael A. Reisner noted, “We were early believers that individual investors wanted access to institutional-quality credit alternatives. We committed to this belief by building a fund that is broadly accessible and offers investors a differentiated product. Our business model goes further by ensuring that we provide financial advisors with the educational and distribution support they need to include credit alternatives in their clients’ portfolios.”

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

ABOUT CION INVESTMENTS

CION Investments is an open-sourced solution provider and a leading manager 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 $1.9 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 $3.6 billion in assets. CION Investments has also partnered with the Man Group to create unique, scalable, and accessible investment solutions, which began with Man Global Private Markets (Man GPM), Man Group’s private markets business.

For more information, please visit cioninvestments.com.

ABOUT ARES MANAGEMENT CORPORATION

Ares Management Corporation (NYSE: ARES) 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 September 30, 2022, Ares Management Corporation’s global platform had approximately $341 billion of assets under management, with approximately 2,500 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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800.435.5697 sales@cioninvestments.com