Ares Management and Apex Clean Energy Close Majority Stake Acquisition

Charlottesville, VA – November 17, 2021 – Apex Clean Energy (“Apex”) and Ares Management Corporation (NYSE: ARES) (“Ares”) today announced that funds and other accounts managed by Ares’ Infrastructure and Power strategy have acquired a majority stake in Apex. The transaction will provide Apex with additional equity growth capital as it seeks to transition to a pure-play renewable energy independent power producer (IPP) at a moment of heightened demand associated with the new energy economy. Apex’s existing management team will continue to lead the company. For more details on the transaction, read the full announcement here.