CION Ares Diversified Credit Fund Announces Second Distribution Rate Increase in 2023

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”) distribution rate has increased for all share classes.

The annualized distribution rate for Class I, the Fund’s largest share class, increased to 8.30% on NAV, as of April 1, 2023. Other share classes may be available at certain intermediaries. More information regarding the distribution rate increase can be found in the Form 8-K filing dated March 6, 2023. The distribution rate increase became effective April 1, 2023.

Since January 2022, the Class I distribution rate has been increased four times and risen by more than 45%. The increase is reflective of the Fund’s emphasis towards floating rate credit investments, which have benefitted from higher rates.

CION co-CEO Mark Gatto noted, "The Fund continues to be managed in a flexible and prudent manner, with a focus on providing value in all market environments. We believe the ability of alternative investments to provide diversification which can smooth portfolio volatility, while also meeting income needs, is one reason for the strong demand from individual investors seeking to incorporate alternatives in their portfolios.”

CADC invests in 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.

ABOUT CION INVESTMENTS

CION Investments is an open source solutions provider and a leading manager of alternative investment solutions designed to redefine the way individual investors build their portfolios and 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 www.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 December 31, 2022, Ares Management Corporation's global platform had approximately $352 billion of assets under management, with over 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.

This press release is not an offer to sell securities and is not soliciting an offer to buy securities in any jurisdiction where the offer or sale is not permitted. An investor should consider CADC's investment objective, risks, charges, and expenses carefully before investing.

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We believe the ability of alternative investments to provide diversification which can smooth portfolio volatility, while also meeting income needs, is one reason for the strong demand from individual investors seeking to incorporate alternatives.