ARCC / Ares Capital Corporation - تصريحات هيئة الأوراق المالية والبورصات، التقرير السنوي، بيان الوكيل

Security Type

Calculation of Filing Fee Tables N-2 ARES CAPITAL CORP Table 1: Newly Registered and Carry Forward Securities ☐Not Applicable Security Type Security Class Title Fee Calculation or Carry Forward Rule Amount Registered Proposed Maximum Offering Price Per Unit Maximum Aggregate Offering Price Fee Rate Amount of Registration Fee Carry Forward Form Type Carry Forward File Number Carry Forward Initial Effective Date Filing Fee Previously Paid in Connection with Unsold Securities to be Carried Forward Newly Registered Securities Fees to be Paid 1 Debt 5.

$650,000,000     5.100% Notes due 2031    

Table of Contents  Filed Pursuant to Rule 424(b)(2)  Registration No.: 333-279023 PROSPECTUS SUPPLEMENT (To Prospectus dated May 1, 2024) $650,000,000     5.100% Notes due 2031     We are offering $650,000,000 in aggregate principal amount of 5.100% notes due 2031, which we refer to as the Notes. The Notes will mature on January 15, 2031. We will pay interest on the Notes on January 15 and July 15

Ares Capital Corporation 5.100% Notes due 2031 PRICING TERM SHEET September 2, 2025

Filed Pursuant to Rule 433 Issuer Free Writing Prospectus dated September 2, 2025 Relating to Preliminary Prospectus Supplement dated September 2, 2025 and Prospectus dated May 1, 2024 Registration No.

Subject to Completion Preliminary Prospectus Supplement dated September 2, 2025

TABLE OF CONTENTS The information in this prospectus supplement is not complete and may be changed.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) August 8, 2025 ARES CAPITAL CORPORAT

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) August 8, 2025 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

AMENDMENT NO. 12 (Ares Capital JB Funding LLC)

Exhibit 10.2 EXECUTION VERSION AMENDMENT NO. 12 (Ares Capital JB Funding LLC) THIS AMENDMENT NO. 12, dated as of July 25, 2025 (this “Amendment”), is entered into by and among Ares Capital JB Funding LLC, as the borrower (together with its successors and assigns in such capacity, the “Borrower”), Ares Capital Corporation, as the servicer (together with its successors and assigns in such capacity,

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) July 29, 2025 ARES CAPITAL CORPORATI

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) July 29, 2025 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 o TRANSITION REPORT PURSUANT TO S

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 814-00663 ARES CAPITAL CORPORATION

ARES CAPITAL CORPORATION ANNOUNCES JUNE 30, 2025 FINANCIAL RESULTS AND DECLARES THIRD QUARTER 2025 DIVIDEND OF $0.48 PER SHARE

Exhibit 99.1 ARES CAPITAL CORPORATION ANNOUNCES JUNE 30, 2025 FINANCIAL RESULTS AND DECLARES THIRD QUARTER 2025 DIVIDEND OF $0.48 PER SHARE DIVIDEND DECLARATIONS New York, NY — July 29, 2025 — Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) announced that its Board of Directors has declared a third quarter 2025 dividend of $0.48 per share. The third quarter 2025 dividend is payable on Sep

AMENDMENT NO. 18 TO LOAN AND SERVICING AGREEMENT

Exhibit 10.3 EXECUTION VERSION AMENDMENT NO. 18 TO LOAN AND SERVICING AGREEMENT This AMENDMENT NO. 18 TO LOAN AND SERVICING AGREEMENT (the “Amendment”), dated as of July 28, 2025 (the “Amendment Effective Date”), is entered into by and among ARES CAPITAL CP FUNDING LLC, a Delaware limited liability company, as the borrower (the “Borrower”), ARES CAPITAL CORPORATION, a Maryland corporation, as the

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) July 2, 2025 ARES CAPITAL CORPORATIO

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) July 2, 2025 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant x Filed by a Party other than the Registrant ¨ Check the appropriate box: ¨        Preliminary Proxy Statement ¨        Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) June 4, 2025 ARES CAPITAL CORPORATIO

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) June 4, 2025 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Third Supplemental Indenture, dated as of June 3, 2025, relating to the 5.500% Notes due 2030, between the Company and U.S. Bank Trust Company, National Association, as trustee

Exhibit 4.2 THIRD SUPPLEMENTAL INDENTURE between ARES CAPITAL CORPORATION and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee Dated as of June 3, 2025 THIRD SUPPLEMENTAL INDENTURE THIS THIRD SUPPLEMENTAL INDENTURE (this “Third Supplemental Indenture”), dated as of June 3, 2025, is between Ares Capital Corporation, a Maryland corporation (the “Company”), and U.S. Bank Trust Company, Natio

Purchase Agreement, dated as of May 27, 2025, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and BofA Securities, Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC, SMBC Nikko Securities America, Inc. and Wells Fargo Securities, LLC, as representatives of the several underwriters named on Schedule A thereto

Exhibit 1.1 ARES CAPITAL CORPORATION (a Maryland corporation) $750,000,000 5.500% Notes due 2030 PURCHASE AGREEMENT Dated: May 27, 2025 ARES CAPITAL CORPORATION (a Maryland corporation) $750,000,000 5.500% Notes due 2030 PURCHASE AGREEMENT May 27, 2025 BofA Securities, Inc. J.P. Morgan Securities LLC RBC Capital Markets, LLC SMBC Nikko Securities America, Inc. Wells Fargo Securities, LLC As Repres

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported)  June 3, 2025 ARES CAPITAL CORPORATI

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported)  June 3, 2025 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Table 1: Newly Registered and Carry Forward Securities

Calculation of Filing Fee Tables N-2 ARES CAPITAL CORP Table 1: Newly Registered and Carry Forward Securities Security Type Security Class Title Fee Calculation or Carry Forward Rule Amount Registered Proposed Maximum Offering Price Per Unit Maximum Aggregate Offering Price Fee Rate Amount of Registration Fee Carry Forward Form Type Carry Forward File Number Carry Forward Initial Effective Date Filing Fee Previously Paid in Connection with Unsold Securities to be Carried Forward Newly Registered Securities Fees to be Paid 1 Debt 5.

$750,000,000      5.500% Notes due 2030    

Table of Contents  Filed Pursuant to Rule 424(b)(2)  Registration No.: 333-279023 PROSPECTUS SUPPLEMENT (To Prospectus dated May 1, 2024) $750,000,000      5.500% Notes due 2030     We are offering $750,000,000 in aggregate principal amount of 5.500% notes due 2030, which we refer to as the Notes. The Notes will mature on September 1, 2030. We will pay interest on the Notes on March 1 and Septembe

Subject to Completion Preliminary Prospectus Supplement dated May 27, 2025

TABLE OF CONTENTS The information in this prospectus supplement is not complete and may be changed.

Ares Capital Corporation $750,000,000 5.500% Notes due 2030 PRICING TERM SHEET May 27, 2025

Filed Pursuant to Rule 433 Issuer Free Writing Prospectus dated May 27, 2025 Relating to Preliminary Prospectus Supplement dated May 27, 2025 and Prospectus dated May 1, 2024 Registration No.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.   )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.   ) Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☒ Def

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.                    )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.                    ) Filed by the Registrant x Filed by a Party other than the Registrant ¨ Check the appropriate box: ¨ Preliminary Proxy Statement ¨ Confidential, for Use of the Commission Only (as permitted by Rule 1

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant x Filed by a Party other than the Registrant ¨ Check the appropriate box: ¨        Preliminary Proxy Statement ¨        Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) May 12, 2025 ARES CAPITAL CORPORATIO

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) May 12, 2025 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.   )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.   ) Filed by the Registrant x Filed by a Party other than the Registrant ¨ Check the appropriate box: ¨ Preliminary Proxy Statement ¨ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ¨ Def

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.   )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.   ) Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☒ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☐ Def

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 o TRANSITION REPORT PURSUANT TO

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 814-00663 ARES CAPITAL CORPORATION

Financial Statements and Exhibits, Results of Operations and Financial Condition, Other Events

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) April 29, 2025 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

ARES CAPITAL CORPORATION ANNOUNCES MARCH 31, 2025 FINANCIAL RESULTS AND DECLARES SECOND QUARTER 2025 DIVIDEND OF $0.48 PER SHARE

Exhibit 99.1 ARES CAPITAL CORPORATION ANNOUNCES MARCH 31, 2025 FINANCIAL RESULTS AND DECLARES SECOND QUARTER 2025 DIVIDEND OF $0.48 PER SHARE DIVIDEND DECLARATIONS New York, NY — April 29, 2025 — Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) announced that its Board of Directors has declared a second quarter 2025 dividend of $0.48 per share. The second quarter 2025 dividend is payable o

Sixteenth Amended and Restated Senior Secured Credit Agreement, dated as of April 15, 2025, among Ares Capital Corporation, the lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent.

Exhibit 10.1 EXECUTION VERSION SIXTEENTH AMENDED AND RESTATED SENIOR SECURED CREDIT AGREEMENT dated as of April 15, 2025 between ARES CAPITAL CORPORATION The LENDERS Party Hereto and JPMORGAN CHASE BANK, N.A. as Administrative Agent Bank of America, N.A., ROYAL BANK OF CANADA, TRUIST BANK, SUMITOMO MITSUI BANKING CORPORATION, WELLS FARGO BANK, NATIONAL ASSOCIATION as Syndication Agents $5,283,000,

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported)  April 15, 2025 ARES CAPITAL CORPORA

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported)  April 15, 2025 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K/A (Amendment No. 1) ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR o TRANSITION R

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K/A (Amendment No. 1) ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 814-00663 ARES CAPI

ARTICLE I

Exhibit 10.1 EXECUTION VERSION This EIGHTHNINTH AMENDMENT TO THE REVOLVING CREDIT AND SECURITY AGREEMENT (this “Amendment”), dated as of July 25March 20, 20242025 (the “Amendment Date”), is entered into by and among ARCC FB FUNDING LLC, a Delaware limited liability company, as the borrower (the “Borrower”), the LENDERS party to the Revolving Credit Agreement, BNP PARIBAS, as the administrative age

IVY HILL ASSET MANAGEMENT, L.P. Consolidated Financial Statements For the Year Ended December 31, 2024 (With Independent Auditors' Report Thereon) Report of Independent Auditors 1 Consolidated Balance Sheet as of December 31, 2024 and 2023 3 Consolid

Exhibit 99.2 IVY HILL ASSET MANAGEMENT, L.P. Consolidated Financial Statements For the Year Ended December 31, 2024 (With Independent Auditors' Report Thereon) Contents Report of Independent Auditors 1 Consolidated Balance Sheet as of December 31, 2024 and 2023 3 Consolidated Statement of Operations for the years ended December 31, 2024, 2023 and 2022 4 Consolidated Statement of Changes in Equity

Entry into a Material Definitive Agreement, Financial Statements and Exhibits, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) March 20, 2025 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.   )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.   ) Filed by the Registrant x Filed by a Party other than the Registrant ¨ Check the appropriate box: ¨ Preliminary Proxy Statement ¨ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ¨ Def

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.      )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.      ) Filed by the Registrant x Filed by a Party other than the Registrant ¨ Check the appropriate box: ¨ Preliminary Proxy Statement ¨ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ¨

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.        )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.        ) Filed by the Registrant  ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

Equity Distribution Agreement, dated as of February 5, 2025, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Jefferies LLC

Exhibit 10.2 Ares Capital Corporation Up to $1,500,000,000 Shares of Common Stock (par value $0.001 per share) EQUITY DISTRIBUTION AGREEMENT February 5, 2025 Jefferies LLC 520 Madison Avenue New York, NY 10022 Ladies and Gentlemen: Ares Capital Corporation, a Maryland corporation (the “Company”), Ares Capital Management LLC, a Delaware limited liability company (the “Adviser”), and Ares Operations

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) February 5, 2025 ARES CAPITAL CORPOR

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) February 5, 2025 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Ares Capital Corporation Appoints Kort Schnabel as Chief Executive Officer Kipp deVeer to Step Down as CEO Effective April 30, 2025, and Will Remain as a Board Director

Exhibit 99.1 Ares Capital Corporation Appoints Kort Schnabel as Chief Executive Officer Kipp deVeer to Step Down as CEO Effective April 30, 2025, and Will Remain as a Board Director NEW YORK — February 5, 2025 — Ares Capital Corporation (NASDAQ: ARCC) (“Ares Capital” or the “Company”) announced today that Co-President Kort Schnabel has been appointed as Chief Executive Officer of the Company, effe

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR o TRANSITION REPORT PURSUANT TO SE

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 814-00663 ARES CAPITAL CORPORATION (Exa

Equity Distribution Agreement, dated as of February 5, 2025, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Regions Securities LLC

Exhibit 10.5 Ares Capital Corporation Up to $1,500,000,000 Shares of Common Stock (par value $0.001 per share) EQUITY DISTRIBUTION AGREEMENT February 5, 2025 Regions Securities LLC 615 South College St., Suite 600 Charlotte, NC 28202 Ladies and Gentlemen: Ares Capital Corporation, a Maryland corporation (the “Company”), Ares Capital Management LLC, a Delaware limited liability company (the “Advise

Report of Independent Registered Public Accounting Firm on Supplemental Information

Exhibit 99.1 Report of Independent Registered Public Accounting Firm on Supplemental Information To the Stockholders and Board of Directors Ares Capital Corporation: We have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (the PCAOB), the consolidated financial statements of Ares Capital Corporation and subsidiaries (the Company) as of Dec

Equity Distribution Agreement, dated as of February 5, 2025, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Truist Securities, Inc.

Exhibit 10.1 Ares Capital Corporation Up to $1,500,000,000 Shares of Common Stock (par value $0.001 per share) EQUITY DISTRIBUTION AGREEMENT February 5, 2025 Truist Securities, Inc. 50 Hudson Yards, 70th Floor New York, NY 10001 Ladies and Gentlemen: Ares Capital Corporation, a Maryland corporation (the “Company”), Ares Capital Management LLC, a Delaware limited liability company (the “Adviser”),

ARES CAPITAL CORPORATION Insider Trading Policy (revised February 4, 2025)

Exhibit 97.2 ARES CAPITAL CORPORATION Insider Trading Policy (revised February 4, 2025) In order to promote compliance with federal, state and foreign securities laws and take an active role in the prevention of insider trading violations by Insiders (as defined below) of Ares Capital Corporation (the “Company”), the Company has adopted this Insider Trading Policy (this “Policy”). No director, off

SUBSIDIARIES OF ARES CAPITAL CORPORATION Name Jurisdiction ACAS, LLC DELAWARE ALLIED CRESCENT EQUITY, LLC DELAWARE ARCC APEX SPV, LLC DELAWARE ARCC API CORP. DELAWARE ARCC BEACON LLC DELAWARE ARCC BLOCKER CORP. DELAWARE ARCC BLOCKER II LLC DELAWARE A

Exhibit 21.1 SUBSIDIARIES OF ARES CAPITAL CORPORATION Name Jurisdiction ACAS, LLC DELAWARE ALLIED CRESCENT EQUITY, LLC DELAWARE ARCC APEX SPV, LLC DELAWARE ARCC API CORP. DELAWARE ARCC BEACON LLC DELAWARE ARCC BLOCKER CORP. DELAWARE ARCC BLOCKER II LLC DELAWARE ARCC BLOCKER IV LLC DELAWARE ARCC BLOCKER V LLC DELAWARE ARCC BLOCKER VI LLC DELAWARE ARCC BLOCKER VII LLC DELAWARE ARCC BLOCKER VIII LLC

$1,500,000,000 Common Stock

Table of Contents Filed Pursuant to Rule 424(b)(2) Registration No.: 333-279023 PROSPECTUS SUPPLEMENT (To Prospectus dated May 1, 2024) $1,500,000,000 Common Stock We have entered into separate equity distribution agreements, each dated February 5, 2025, with each of Truist Securities, Inc., Jefferies LLC, Mizuho Securities USA LLC, RBC Capital Markets, LLC and Regions Securities LLC (each, a “sal

Equity Distribution Agreement, dated as of February 5, 2025, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and RBC Capital Markets, LLC

Exhibit 10.4 Ares Capital Corporation Up to $1,500,000,000 Shares of Common Stock (par value $0.001 per share) EQUITY DISTRIBUTION AGREEMENT February 5, 2025 RBC Capital Markets, LLC 200 Vesey Street, 8th Floor New York, New York 10281 Ladies and Gentlemen: Ares Capital Corporation, a Maryland corporation (the “Company”), Ares Capital Management LLC, a Delaware limited liability company (the “Advi

Entry into a Material Definitive Agreement, Termination of a Material Definitive Agreement, Financial Statements and Exhibits

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported):  February 5, 2025 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

DESCRIPTION OF SECURITIES

Exhibit 4.35 DESCRIPTION OF SECURITIES As of February 5, 2025, Ares Capital Corporation (“Ares Capital,” the “Company,” “we,” “us” or “our”) had one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended: our common stock, $0.001 par value per share (our “common stock”). In this exhibit, references to “Ares Capital,” “we,” “us” and “our” refer only to Ar

Table 1: Newly Registered and Carry Forward Securities

Calculation of Filing Fee Tables N-2 ARES CAPITAL CORP Table 1: Newly Registered and Carry Forward Securities Security Type Security Class Title Fee Calculation or Carry Forward Rule Amount Registered Proposed Maximum Offering Price Per Unit Maximum Aggregate Offering Price Fee Rate Amount of Registration Fee Carry Forward Form Type Carry Forward File Number Carry Forward Initial Effective Date Filing Fee Previously Paid in Connection with Unsold Securities to be Carried Forward Newly Registered Securities Fees to be Paid 1 Equity Common Stock, $0.

ARES CAPITAL CORPORATION ANNOUNCES DECEMBER 31, 2024 FINANCIAL RESULTS AND DECLARES FIRST QUARTER 2025 DIVIDEND OF $0.48 PER SHARE

Exhibit 99.1 ARES CAPITAL CORPORATION ANNOUNCES DECEMBER 31, 2024 FINANCIAL RESULTS AND DECLARES FIRST QUARTER 2025 DIVIDEND OF $0.48 PER SHARE DIVIDEND DECLARATIONS New York, NY — February 5, 2025 — Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) announced that its Board of Directors has declared a first quarter 2025 dividend of $0.48 per share. The first quarter 2025 dividend is payable

Equity Distribution Agreement, dated as of February 5, 2025, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Mizuho Securities USA LLC

Exhibit 10.3 Ares Capital Corporation Up to $1,500,000,000 Shares of Common Stock (par value $0.001 per share) EQUITY DISTRIBUTION AGREEMENT February 5, 2025 Mizuho Securities USA LLC 1271 Avenue of the Americas New York, NY10020 Ladies and Gentlemen: Ares Capital Corporation, a Maryland corporation (the “Company”), Ares Capital Management LLC, a Delaware limited liability company (the “Adviser”),

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported)  February 5, 2025 ARES CAPITAL CORPO

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported)  February 5, 2025 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Entry into a Material Definitive Agreement, Financial Statements and Exhibits, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Other Events

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported)  January 8, 2025 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Second Supplemental Indenture, dated as of January 8, 2025, relating to the 5.800% Notes due 2032, between the Company and U.S. Bank Trust Company, National Association, as trustee

EX-4.2 3 tm252148d1ex4-2.htm EXHIBIT 4.2 Exhibit 4.2 Execution Version SECOND SUPPLEMENTAL INDENTURE between ARES CAPITAL CORPORATION and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee Dated as of January 8, 2025 SECOND SUPPLEMENTAL INDENTURE THIS SECOND SUPPLEMENTAL INDENTURE (this “Second Supplemental Indenture”), dated as of January 8, 2025, is between Ares Capital Corporation, a Mar

Purchase Agreement, dated as of January 2, 2025, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and BofA Securities, Inc., J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc. and Wells Fargo Securities, LLC, as representatives of the several underwriters named on Schedule A thereto

Exhibit 1.1 ARES CAPITAL CORPORATION (a Maryland corporation) $1,000,000,000 5.800% Notes due 2032 PURCHASE AGREEMENT Dated: January 2, 2025 ARES CAPITAL CORPORATION (a Maryland corporation) $1,000,000,000 5.800% Notes due 2032 PURCHASE AGREEMENT January 2, 2025 BofA Securities, Inc. J.P. Morgan Securities LLC SMBC Nikko Securities America, Inc. Wells Fargo Securities, LLC As Representatives of th

Table 1: Newly Registered and Carry Forward Securities

Calculation of Filing Fee Tables N-2 ARES CAPITAL CORP Table 1: Newly Registered and Carry Forward Securities Security Type Security Class Title Fee Calculation or Carry Forward Rule Amount Registered Proposed Maximum Offering Price Per Unit Maximum Aggregate Offering Price Fee Rate Amount of Registration Fee Carry Forward Form Type Carry Forward File Number Carry Forward Initial Effective Date Filing Fee Previously Paid in Connection with Unsold Securities to be Carried Forward Newly Registered Securities Fees to be Paid Fees Previously Paid 1 Debt 5.

$1,000,000,000 5.800% Notes due 2032

Table of Contents Filed Pursuant to Rule 424(b)(2) Registration No.: 333-279023 PROSPECTUS SUPPLEMENT (To Prospectus dated May 1, 2024) $1,000,000,000 5.800% Notes due 2032 We are offering $1,000,000,000 in aggregate principal amount of 5.800% notes due 2032, which we refer to as the Notes. The Notes will mature on March 8, 2032. We will pay interest on the Notes on March 8 and September 8 of each

Ares Capital Corporation 5.800% Notes due 2032 PRICING TERM SHEET January 2, 2025

Filed Pursuant to Rule 433 Issuer Free Writing Prospectus dated January 2, 2025 Relating to Preliminary Prospectus Supplement dated January 2, 2025 and Prospectus dated May 1, 2024 Registration No.

Subject to Completion Preliminary Prospectus Supplement dated January 2, 2025

TABLE OF CONTENTS The information in this prospectus supplement is not complete and may be changed.

AMENDMENT NO. 11 (Ares Capital JB Funding LLC)

Exhibit 10.1 EXECUTION VERSION AMENDMENT NO. 11 (Ares Capital JB Funding LLC) THIS AMENDMENT NO. 11, dated as of December 6, 2024 (this “Amendment”), is entered into by and among Ares Capital JB Funding LLC, as the borrower (together with its successors and assigns in such capacity, the “Borrower”), Ares Capital Corporation, as the servicer (together with its successors and assigns in such capacit

Entry into a Material Definitive Agreement, Financial Statements and Exhibits, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) December 6, 2024 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Collateral Administration Agreement, dated as of November 19, 2024, by and between Ares Direct Lending CLO 4 LLC, as issuer, Ares Capital Management LLC, as asset manager, and U.S. Bank Trust Company, National Association as collateral administrator

Exhibit 10.3 COLLATERAL ADMINISTRATION AGREEMENT This COLLATERAL ADMINISTRATION AGREEMENT, dated as of November 19, 2024 (the “Agreement”) is entered into by and among ARES DIRECT LENDING CLO 4 LLC, a limited liability company organized under the laws of the State of Delaware (the “Issuer”), ARES CAPITAL MANAGEMENT LLC, a Delaware limited liability company, as Asset Manager (as that term is define

Indenture and Security Agreement, dated as of November 19, 2024, by and between Ares Direct Lending CLO 4 LLC, as issuer, and U.S. Bank Trust Company, National Association, as trustee

  Exhibit 4.1       ARES DIRECT LENDING CLO 4 LLC, ISSUER     AND     U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, COLLATERAL TRUSTEE     INDENTURE AND SECURITY AGREEMENT     COLLATERALIZED LOAN OBLIGATIONS          Dated as of November 19, 2024                   TABLE OF CONTENTS       Page ARTICLE I DEFINITIONS     Section 1.1 Definitions 2 Section 1.2 Assumptions as to Underlying Assets 75 Se

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported)  November 19, 2024 ARES CAPITAL CORP

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported)  November 19, 2024 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Class B Credit Agreement, dated as of November 19, 2024, by and among Ares Direct Lending CLO 4 LLC, as borrower, the lenders party thereto, and U.S. Bank Trust Company, National Association, as loan agent and collateral trustee

Exhibit 10.2 CLASS B CREDIT AGREEMENT dated as of November 19, 2024 among ARES DIRECT LENDING CLO 4 LLC, as Borrower, THE VARIOUS FINANCIAL INSTITUTIONS AND OTHER PERSONS FROM TIME TO TIME PARTY HERETO, as Lenders, and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Loan Agent and as Collateral Trustee TABLE OF CONTENTS Article I DEFINITIONS AND INTERPRETATION 1 Section 1.1 Defined Terms 1 Secti

Master Purchase and Sale Agreement, dated as of November 19, 2024, by and between Ares Capital Corporation, as seller, and Ares Direct Lending CLO 4 LLC, as buyer

Exhibit 10.5         MASTER PURCHASE AND SALE AGREEMENT     by and between       ARES CAPITAL CORPORATION as Seller       and       ARES DIRECT LENDING CLO 4 LLC as Buyer         Dated as of November 19, 2024                  TABLE OF CONTENTS        Page       ARTICLE I GENERAL   1       Section 1.1. Certain Defined Terms 1 Section 1.2. Other Terms 3 Section 1.3. Computation of Time Periods 3 Sec

Asset Management Agreement, dated as of November 19, 2024, by and between Ares Direct Lending CLO 4 LLC, as issuer and Ares Capital Management LLC, as asset manager

Exhibit 10.4 Asset Management Agreement This Asset Management Agreement (this “Agreement”), dated as of November 19, 2024, is entered into by and between Ares Direct Lending CLO 4 LLC, a limited liability company formed under the laws of the State of Delaware, with its principal office located at 1800 Avenue of the Stars, Suite 1400, Los Angeles, California 90067 (together with successors and assi

Class A Credit Agreement, dated as of November 19, 2024, by and among Ares Direct Lending CLO 4 LLC, as borrower, the lenders party thereto, and U.S. Bank Trust Company, National Association, as loan agent and collateral trustee

Exhibit 10.1 CLASS A CREDIT AGREEMENT dated as of November 19, 2024 among ARES DIRECT LENDING CLO 4 LLC, as Borrower, THE VARIOUS FINANCIAL INSTITUTIONS AND OTHER PERSONS FROM TIME TO TIME PARTY HERETO, as Lenders, and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Loan Agent and as Collateral Trustee TABLE OF CONTENTS Article I DEFINITIONS AND INTERPRETATION 1 Section 1.1 Defined Terms 1 Secti

Contribution Agreement, dated as of November 19, 2024, by and between Ares Capital Corporation, as transferor, and Ares Direct Lending CLO 4 LLC, as transferee

Exhibit 10.6     CONTRIBUTION AGREEMENT     Between   ARES CAPITAL CORPORATION,   as Transferor   and   ARES DIRECT LENDING CLO 4 LLC,   as Transferee     Dated as of November 19, 2024           TABLE OF CONTENTS       Page ARTICLE I DEFINITIONS 1       SECTION 1.1 Definitions. 1 SECTION 1.2 Other Terms. 2 SECTION 1.3 Computation of Time Periods. 2       ARTICLE II CONVEYANCES OF TRANSFERRED ASSET

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) October 24, 2024 ARES CAPITAL CORPOR

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) October 24, 2024 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Ares Capital Corporation Appoints Jim Miller as Co-President Michael Smith and Mitch Goldstein Appointed as Co-Chairmen of Board of Directors

Exhibit 99.1 Ares Capital Corporation Appoints Jim Miller as Co-President Michael Smith and Mitch Goldstein Appointed as Co-Chairmen of Board of Directors NEW YORK — October 30, 2024 — Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) announced today that James (“Jim”) R. Miller was appointed as Co-President to serve alongside current Co-President, Kort Schnabel. Concurrently, Ares Capital’

ARES CAPITAL CORPORATION ANNOUNCES SEPTEMBER 30, 2024 FINANCIAL RESULTS AND DECLARES FOURTH QUARTER 2024 DIVIDEND OF $0.48 PER SHARE

Exhibit 99.1 ARES CAPITAL CORPORATION ANNOUNCES SEPTEMBER 30, 2024 FINANCIAL RESULTS AND DECLARES FOURTH QUARTER 2024 DIVIDEND OF $0.48 PER SHARE DIVIDEND DECLARATIONS New York, NY — October 30, 2024 — Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) announced that its Board of Directors has declared a fourth quarter 2024 dividend of $0.48 per share. The fourth quarter 2024 dividend is pay

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) October 30, 2024 ARES CAPITAL CORPOR

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) October 30, 2024 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 o TRANSITION REPORT PURSUANT

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 814-00663 ARES CAPITAL CORPORA

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) October 8, 2024 ARES CAPITAL CORPORA

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) October 8, 2024 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

AMENDMENT NO. 17 TO LOAN AND SERVICING AGREEMENT

Exhibit 10.1 EXECUTION VERSION AMENDMENT NO. 17 TO LOAN AND SERVICING AGREEMENT This AMENDMENT NO. 17 TO LOAN AND SERVICING AGREEMENT (the “Amendment”), dated as of October 8, 2024 (the “Amendment Effective Date”), is entered into by and among ARES CAPITAL CP FUNDING LLC, a Delaware limited liability company, as the borrower (the “Borrower”), ARES CAPITAL CORPORATION, a Maryland corporation, as th

Submission of Matters to a Vote of Security Holders

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) August 8, 2024 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) July 30, 2024 ARES CAPITAL CORPORATI

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) July 30, 2024 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

$1,000,000,000 Common Stock

Table of Contents Filed Pursuant to Rule 424(b)(2) Registration No.: 333-279023 PROSPECTUS SUPPLEMENT (To Prospectus dated May 1, 2024) $1,000,000,000 Common Stock We have entered into separate equity distribution agreements, each dated July 30, 2024, with each of Truist Securities, Inc., Jefferies LLC, Mizuho Securities USA LLC, RBC Capital Markets, LLC and Regions Securities LLC (each, a “sales

Entry into a Material Definitive Agreement, Termination of a Material Definitive Agreement, Financial Statements and Exhibits

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): July 30, 2024 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

ARES CAPITAL CORPORATION ANNOUNCES JUNE 30, 2024 FINANCIAL RESULTS AND DECLARES THIRD QUARTER 2024 DIVIDEND OF $0.48 PER SHARE

Exhibit 99.1 ARES CAPITAL CORPORATION ANNOUNCES JUNE 30, 2024 FINANCIAL RESULTS AND DECLARES THIRD QUARTER 2024 DIVIDEND OF $0.48 PER SHARE DIVIDEND DECLARATIONS New York, NY — July 30, 2024 — Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) announced that its Board of Directors has declared a third quarter 2024 dividend of $0.48 per share. The third quarter 2024 dividend is payable on Sep

Equity Distribution Agreement, dated as of July 30, 2024, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Truist Securities, Inc.

Exhibit 10.1 Ares Capital Corporation Up to $1,000,000,000 Shares of Common Stock (par value $0.001 per share) EQUITY DISTRIBUTION AGREEMENT July 30, 2024 Truist Securities, Inc. 3333 Peachtree Road NE Atlanta, Georgia 30326 Ladies and Gentlemen: Ares Capital Corporation, a Maryland corporation (the “Company”), Ares Capital Management LLC, a Delaware limited liability company (the “Adviser”), and

Equity Distribution Agreement, dated as of July 30, 2024, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Regions Securities LLC

Exhibit 10.5 Ares Capital Corporation Up to $1,000,000,000 Shares of Common Stock (par value $0.001 per share) EQUITY DISTRIBUTION AGREEMENT July 30, 2024 Regions Securities LLC 615 South College St., Suite 600 Charlotte, NC 28202 Ladies and Gentlemen: Ares Capital Corporation, a Maryland corporation (the “Company”), Ares Capital Management LLC, a Delaware limited liability company (the “Adviser”)

Equity Distribution Agreement, dated as of July 30, 2024, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and RBC Capital Markets, LLC

Exhibit 10.4 Ares Capital Corporation Up to $1,000,000,000 Shares of Common Stock (par value $0.001 per share) EQUITY DISTRIBUTION AGREEMENT July 30, 2024 RBC Capital Markets, LLC 200 Vesey Street, 8th Floor New York, New York 10281 Ladies and Gentlemen: Ares Capital Corporation, a Maryland corporation (the “Company”), Ares Capital Management LLC, a Delaware limited liability company (the “Adviser

ARTICLE I

Exhibit 10.6 EXECUTION VERSION This EIGHTH AMENDMENT TO THE REVOLVING CREDIT AND SECURITY AGREEMENT (this “Amendment”), dated as of July 25, 2024 (the “Amendment Date”), is entered into by and among ARCC FB FUNDING LLC, a Delaware limited liability company, as the borrower (the “Borrower”), the LENDERS party to the Revolving Credit Agreement, BNP PARIBAS, as the administrative agent (the “Administ

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 o TRANSITION REPORT PURSUANT TO S

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 814-00663 ARES CAPITAL CORPORATION

Equity Distribution Agreement, dated as of July 30, 2024, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Jefferies LLC

Exhibit 10.2 Ares Capital Corporation Up to $1,000,000,000 Shares of Common Stock (par value $0.001 per share) EQUITY DISTRIBUTION AGREEMENT July 30, 2024 Jefferies LLC 520 Madison Avenue New York, NY 10022 Ladies and Gentlemen: Ares Capital Corporation, a Maryland corporation (the “Company”), Ares Capital Management LLC, a Delaware limited liability company (the “Adviser”), and Ares Operations LL

Indenture, dated as of May 13, 2024, by and between the Company and U.S. Bank Trust Company, National Association, as trustee (incorporated by reference to Exhibit 4.1 to the Company’s Form 10-Q (File No. 814-00663) for the quarter ended June 30, 2024, filed on July 30, 2024)

Exhibit 4.1 EXECUTION VERSION ARES CAPITAL CORPORATION (Issuer) and U.S. Bank Trust Company, National Association (Trustee) Indenture Dated as of May 13, 2024 Providing for the Issuance of Debt Securities TABLE OF CONTENTS Page ARTICLE ONE DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 1 SECTION 1.01. Definitions 1 SECTION 1.02. Compliance Certificates 13 SECTION 1.03. Form of Documents D

Equity Distribution Agreement, dated as of July 30, 2024, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Mizuho Securities USA LLC

Exhibit 10.3 Ares Capital Corporation Up to $1,000,000,000 Shares of Common Stock (par value $0.001 per share) EQUITY DISTRIBUTION AGREEMENT July 30, 2024 Mizuho Securities USA LLC 1271 Avenue of the Americas New York, NY10020 Ladies and Gentlemen: Ares Capital Corporation, a Maryland corporation (the “Company”), Ares Capital Management LLC, a Delaware limited liability company (the “Adviser”), an

Calculation of Filing Fee Tables Form 424B2 (Form Type) Ares Capital Corporation (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered and Carry Forward Securities

Exhibit 107 Calculation of Filing Fee Tables Form 424B2 (Form Type) Ares Capital Corporation (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered and Carry Forward Securities Security Type Security Class Title Fee Calculation or Carry Forward Rule Amount Registered Proposed Maximum Offering Price Per Unit Maximum Aggregate Offering Price Fee Rate Amount of Registration Fee(1) Fees to Be Paid Equity Common Stock, $0.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.      )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.      ) Filed by the Registrant x Filed by a Party other than the Registrant ¨ Check the appropriate box: ¨ Preliminary Proxy Statement ¨ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ¨

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) June 6, 2024 ARES CAPITAL CORPORATIO

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) June 6, 2024 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) May 24, 2024 ARES CAPITAL CORPORATIO

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) May 24, 2024 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Collateral Administration Agreement, dated as of May 24, 2024, by and between Ares Direct Lending CLO 1 LLC, as issuer, Ares Capital Management LLC, as asset manager, and U.S. Bank Trust Company, National Association as collateral administrator

   Exhibit  10.1    COLLATERAL ADMINISTRATION AGREEMENT    This COLLATERAL ADMINISTRATION AGREEMENT, dated as of May  24, 2024 (the “Agreement”) is entered into by and among ARES DIRECT LENDING CLO 1 LLC, a limited liability company organized under the laws of the State of Delaware (the “Issuer”), ARES CAPITAL MANAGEMENT LLC, a Delaware limited liability company, as Asset Manager (as that term is

Indenture, dated as of May 24, 2024, by and between Ares Direct Lending CLO 1 LLC, as issuer, and U.S. Bank Trust Company, National Association, as trustee

Exhibit 4.1 ARES DIRECT LENDING CLO 1 LLC, ISSUER AND U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, TRUSTEE INDENTURE Dated as of May 24, 2024 COLLATERALIZED LOAN OBLIGATIONS Table of Contents Page PRELIMINARY STATEMENT 1 GRANTING CLAUSE 1 ARTICLE I DEFINITIONS 2 Section 1.1 Definitions 2 Section 1.2 Assumptions as to Underlying Assets 60 Section 1.3 Rules of Construction 63 ARTICLE II THE DEBT 6

Contribution Agreement, dated as of May 24, 2024, by and between Ares Capital Corporation, as transferor, and Ares Direct Lending CLO 1 LLC, as transferee

  Exhibit 10.4   CONTRIBUTION AGREEMENT   Between   ARES CAPITAL CORPORATION,   as Transferor   and   ARES DIRECT LENDING CLO 1 LLC,   as Transferee   Dated as of May 24, 2024         TABLE OF CONTENTS   Page   ARTICLE I    DEFINITIONS 1       SECTION 1.1 Definitions 1 SECTION 1.2 Other Terms 3 SECTION 1.3 Computation of Time Periods 3       ARTICLE II    CONVEYANCES OF TRANSFERRED ASSETS 3      

Asset Management Agreement, dated as of May 24, 2024, by and between Ares Direct Lending CLO 1 LLC, as issuer and Ares Capital Management LLC, as asset manager

Exhibit 10.2 Asset Management Agreement This Asset Management Agreement (this “Agreement”), dated as of May 24, 2024, is entered into by and between Ares Direct Lending CLO 1 LLC, a limited liability company formed under the laws of the State of Delaware, with its principal office located at 2000 Avenue of the Stars, 12th Floor, Los Angeles, California 90067 (together with successors and assigns p

Master Purchase and Sale Agreement, dated as of May 24, 2024, by and between Ares Capital Corporation, as seller, and Ares Direct Lending CLO 1 LLC, as buyer

Exhibit 10.3 MASTER PURCHASE AND SALE AGREEMENT by and between ARES CAPITAL CORPORATION as Seller and ARES DIRECT LENDING CLO 1 LLC as Buyer Dated as of May 24, 2024 TABLE OF CONTENTS Page ARTICLE I GENERAL 1 Section 1.1. Certain Defined Terms 1 Section 1.2. Other Terms 3 Section 1.3. Computation of Time Periods 3 Section 1.4. Interpretation 3 Section 1.5. References 4 ARTICLE II SALE 4 Section 2.

Regulation FD Disclosure

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) May 21, 2024 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.           )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.           ) Filed by the Registrant x Filed by a Party other than the Registrant ¨ Check the appropriate box: ¨ Preliminary Proxy Statement ¨ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.      )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.      ) Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☒

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.           )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.           ) Filed by the Registrant x Filed by a Party other than the Registrant ¨ Check the appropriate box: ¨ Preliminary Proxy Statement ¨ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2

2049 Century Park East, 37th Floor Los Angeles, CA 90067 United States +1 310 552 4200

Monica J. Shilling, P.C. To Call Writer Directly: +1 310 552 4355 [email protected] 2049 Century Park East, 37th Floor Los Angeles, CA 90067 United States +1 310 552 4200 www.kirkland.com Facsimile: +1 310 552 5900 May 14, 2024 VIA EDGAR Ms. Kimberly A. Browning U.S. Securities and Exchange Commission Division of Investment Management 100 F Street, NE Washington, D.C. 20549 Re: Ares Cap

Submission of Matters to a Vote of Security Holders

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) May 10, 2024 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

First Supplemental Indenture, dated as of May 13, 2024, relating to the 5.950% Notes due 2029, between the Company and U.S. Bank Trust Company, National Association, as trustee

Exhibit 4.2 FIRST SUPPLEMENTAL INDENTURE between ARES CAPITAL CORPORATION and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee Dated as of May 13, 2024 FIRST SUPPLEMENTAL INDENTURE THIS FIRST SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of May 13, 2024, is between Ares Capital Corporation, a Maryland corporation (the “Company”), and U.S. Bank Trust Company, National As

Indenture, dated as of May 13, 2024, by and between the Company and U.S. Bank Trust Company, National Association, as trustee

Exhibit 4.1 ARES CAPITAL CORPORATION (Issuer) and U.S. Bank Trust Company, National Association (Trustee) Indenture Dated as of May 13, 2024 Providing for the Issuance of Debt Securities TABLE OF CONTENTS Page Article One DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 1 Section 1.01 Definitions 1 Section 1.02 Compliance Certificates 13 Section 1.03 Form of Documents Delivered to Trustee 1

Purchase Agreement, dated as of May 6, 2024, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and BofA Securities, Inc., J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc. and Wells Fargo Securities, LLC, as representatives of the several underwriters named on Schedule A thereto

Exhibit 1.1 Execution Version ARES CAPITAL CORPORATION (a Maryland corporation) $850,000,000 5.950% Notes due 2029 PURCHASE AGREEMENT Dated: May 6, 2024 ARES CAPITAL CORPORATION (a Maryland corporation) $850,000,000 5.950% Notes due 2029 PURCHASE AGREEMENT May 6, 2024 BofA Securities, Inc. J.P. Morgan Securities LLC SMBC Nikko Securities America, Inc. Wells Fargo Securities, LLC As Representatives

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) May 13, 2024 ARES CAPITAL CORPORATIO

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) May 13, 2024 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Calculation of Filing Fee Tables (Form Type) Ares Capital Corporation (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered and Carry Forward Securities

Exhibit 107 Calculation of Filing Fee Tables 424(b)(2) (Form Type) Ares Capital Corporation (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered and Carry Forward Securities Security Type Security Class Title Fee Calculation or Carry Forward Rule Amount Registered Proposed Maximum Offering Price Per Share Maximum Aggregate Offering Price Fee Rate Amount of Registration Fee Fees to Be Paid Debt 5.

$850,000,000 5.950% Notes due 2029

Table of Contents Filed Pursuant to Rule 424(b)(2) Registration No.: 333-279023 PROSPECTUS SUPPLEMENT (To Prospectus dated May 1, 2024) $850,000,000 5.950% Notes due 2029 We are offering $850,000,000 in aggregate principal amount of 5.950% notes due 2029, which we refer to as the Notes. The Notes will mature on July 15, 2029. We will pay interest on the Notes on January 15 and July 15 of each year

Ares Capital Corporation $850,000,000 5.950% Notes due 2029 PRICING TERM SHEET May 6, 2024

Filed Pursuant to Rule 433 Issuer Free Writing Prospectus dated May 6, 2024 Relating to Preliminary Prospectus Supplement dated May 6, 2024 and Prospectus dated May 1, 2024 Registration No.

Subject to Completion Preliminary Prospectus Supplement dated May 6, 2024

TABLE OF CONTENTS The information in this prospectus supplement is not complete and may be changed.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 o TRANSITION REPORT PURSUANT TO

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 814-00663 ARES CAPITAL CORPORATION

$1,000,000,000 Common Stock

Table of Contents Filed Pursuant to Rule 424(b)(2) Registration No.: 333-279023 PROSPECTUS SUPPLEMENT (To Prospectus dated May 1, 2024) $1,000,000,000 Common Stock We have entered into separate equity distribution agreements, each dated February 7, 2024, with each of Truist Securities, Inc., Jefferies LLC, Mizuho Securities USA LLC, RBC Capital Markets, LLC and Regions Securities LLC (each, a “sal

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) May 1, 2024 ARES CAPITAL CORPORATION

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) May 1, 2024 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Opinion and Consent of Kirkland & Ellis LLP, counsel for Ares Capital Corporation

Exhibit (l)(2) 2049 Century Park East Los Angeles, CA 90067 United States +1 310 552 4200 www.

Opinion and Consent of Venable LLP, Maryland counsel for Ares Capital Corporation dated May 1, 2024*

Exhibit (l)(3) 750 E. PRATT STREET SUITE 900 BALTIMORE, MD 21202 T 410.244.7400 F 410.244.7742 www.Venable.com May 1, 2024 Ares Capital Corporation 245 Park Avenue, 44th Floor New York, New York 10167 Re: Registration Statement on Form N-2 (File No. 333-279023) Ladies and Gentlemen: We have served as Maryland counsel to Ares Capital Corporation, a Maryland corporation (the “Company”), in connectio

Statement of Eligibility of Trustee on Form T-1 for Indenture, dated as of October 21, 2010

Exhibit (d)(2) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM T-1 Check if an Application to Determine Eligibility of a Trustee Pursuant to Section 305(b)(2) ☐ U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION (Exact name of Trustee as specified in its charter) 91-1821036 I.R.S. Employer Identification No. 800 Nicollet Mall Minneapolis, Minnesota 55402 (Address of princip

Calculation of Filing Fee Tables Form 424B2 (Form Type) Ares Capital Corporation (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered and Carry Forward Securities

Exhibit 107 Calculation of Filing Fee Tables Form 424B2 (Form Type) Ares Capital Corporation (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered and Carry Forward Securities Fee Proposed Calculation Maximum Security or Carry Offering Maximum Amount of Security Class Forward Amount Price Aggregate Fee Registration Type Title Rule Registered Per Unit Offering Price Rate Fee(1) Fees to Be Paid Equity Common Stock, $0.

Opinion and Consent of Venable LLP, Maryland counsel for Ares Capital Corporation

Exhibit 99.(l)(1) 750 E. PRATT STREET SUITE 900 BALTIMORE, MD 21202 T 410.244.7400 F 410.244.7742 www.Venable.com May 1, 2024 Ares Capital Corporation 245 Park Avenue, 44th Floor New York, New York 10167 Re:Registration Statement on Form N-2 Ladies and Gentlemen: We have served as Maryland counsel to Ares Capital Corporation, a Maryland corporation (the “Company”), and a business development compa

Filing Fee Table

Exhibit 107 Calculation of Filing Fee Table FORM N-2 (Form Type) ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered and Carry Forward Securities Security Type Security Class Title Fee Calculation or Carry Forward Rule (1) Amount Registered Proposed Maximum Offering Price Per Unit Maximum Aggregate Offering Price Fee Rate Amount of Registration Fee Carry Forward Form Type Carry Forward File Number Carry Forward Initial effective date Filing Fee Previously Paid In Connection with Unsold Securities to be Carried Forward Newly Registered Securities Fees to be paid Equity Common Stock, $0.

Form of Indenture, between Ares Capital Corporation and U.S. Bank National Association, as trustee

Exhibit (d)(6) ARES CAPITAL CORPORATION (Issuer) and U.S. Bank Trust Company, National Association (Trustee) Indenture Dated as of [•], 2024 Providing for the Issuance of Debt Securities TABLE OF CONTENTS Page ARTICLE ONE DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 1 Section 1.01 Definitions 1 Section 1.02 Compliance Certificates 10 Section 1.03 Form of Documents Delivered to Trustee 1

Statement of Eligibility of Trustee on Form T-1 for Form of Indenture

Exhibit (d)(3) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM T-1 Check if an Application to Determine Eligibility of a Trustee Pursuant to Section 305(b)(2) ☐ U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION (Exact name of Trustee as specified in its charter) 91-1821036 I.R.S. Employer Identification No. 800 Nicollet Mall Minneapolis, Minnesota 55402 (Address of princip

Consent of independent registered public accounting firm for Ares Capital Corporation

Exhibit 99.(n)(1) Consent of Independent Registered Public Accounting Firm We consent to the incorporation by reference in the registration statement on Form N-2 of Ares Capital Corporation (the “Registration Statement”) of our reports dated February 7, 2024, with respect to the consolidated financial statements of Ares Capital Corporation and the effectiveness of internal control over financial r

ARES CAPITAL CORPORATION ANNOUNCES MARCH 31, 2024 FINANCIAL RESULTS AND DECLARES SECOND QUARTER 2024 DIVIDEND OF $0.48 PER SHARE

Exhibit 99.1 ARES CAPITAL CORPORATION ANNOUNCES MARCH 31, 2024 FINANCIAL RESULTS AND DECLARES SECOND QUARTER 2024 DIVIDEND OF $0.48 PER SHARE DIVIDEND DECLARATIONS New York, NY — May 1, 2024 — Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) announced that its Board of Directors has declared a second quarter 2024 dividend of $0.48 per share. The second quarter 2024 dividend is payable on J

As filed with the Securities and Exchange Commission on May 1, 2024

As filed with the Securities and Exchange Commission on May 1, 2024 Securities Act File No.

Power of Attorney

As filed with the Securities and Exchange Commission on May 1, 2024 Registration No.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.      )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.      ) Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☒ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☐

Seventh Amendment to the Revolving Credit and Security Agreement, dated as of April 12, 2024, among ARCC FB Funding LLC, as borrower, the lenders from time to time parties thereto, BNP Paribas, as administrative agent and lender, Ares Capital Corporation, as equityholder and servicer, and U.S. Bank National Association, as collateral agent

Exhibit 10.2 EXECUTION VERSION This SEVENTH AMENDMENT TO THE REVOLVING CREDIT AND SECURITY AGREEMENT (this “Amendment”), dated as of April 12, 2024 (the “Amendment Date”), is entered into by and among ARCC FB FUNDING LLC, a Delaware limited liability company, as the borrower (the “Borrower”), the LENDERS party to the Revolving Credit Agreement, BNP PARIBAS, as the administrative agent (the “Admini

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) April 12, 2024 ARES CAPITAL CORPORAT

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) April 12, 2024 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Fifteenth Amended and Restated Senior Secured Revolving Credit Agreement, dated as of April 12, 2024, among Ares Capital Corporation, the lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent

Exhibit 10.1 EXECUTION VERSION FIFTEENTH AMENDED AND RESTATED SENIOR SECURED CREDIT AGREEMENT dated as of April 12, 2024 between ARES CAPITAL CORPORATION The LENDERS Party Hereto and JPMORGAN CHASE BANK, N.A. as Administrative Agent Bank of America, N.A., TRUIST BANK, SUMITOMO MITSUI BANKING CORPORATION, WELLS FARGO BANK, NATIONAL ASSOCIATION as Syndication Agents $4,488,000,000 JPMORGAN CHASE BAN

Amendment No. 10, dated as of March 28, 2024, among Ares Capital JB Funding LLC, as borrower, Ares Capital Corporation, as servicer and transferor, Sumitomo Mitsui Banking Corporation, as administrative agent, lender and collateral agent, and U.S. Bank National Association, as collateral custodian and bank (amending the Loan and Servicing Agreement, dated as of January 20, 2012)

Exhibit 10.1 EXECUTION VERSION AMENDMENT NO. 10 (Ares Capital JB Funding LLC) THIS AMENDMENT NO. 10, dated as of March 28, 2024 (this “Amendment”), is entered into by and among Ares Capital JB Funding LLC, as the borrower (together with its successors and assigns in such capacity, the “Borrower”), Ares Capital Corporation, as the servicer (together with its successors and assigns in such capacity,

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) March 28, 2024 ARES CAPITAL CORPORAT

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) March 28, 2024 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K/A (Amendment No. 1) ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR o TRANSITION R

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K/A (Amendment No. 1) ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 814-00663 ARES CAPI

IVY HILL ASSET MANAGEMENT, L.P. Consolidated Financial Statements For the Year Ended December 31, 2023 (With Independent Auditors' Report Thereon) Report of Independent Auditors 1 Consolidated Balance Sheet as of December 31, 2023 and 2022 3 Consolid

Exhibit 99.2 IVY HILL ASSET MANAGEMENT, L.P. Consolidated Financial Statements For the Year Ended December 31, 2023 (With Independent Auditors' Report Thereon) Contents Report of Independent Auditors 1 Consolidated Balance Sheet as of December 31, 2023 and 2022 3 Consolidated Statement of Operations for the years ended December 31, 2023, 2022 and 2021 4 Consolidated Statement of Changes in Equity

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.       )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.       ) Filed by the Registrant x Filed by a Party other than the Registrant ¨ Check the appropriate box: ¨ Preliminary Proxy Statement ¨ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ¨

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.        )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.        ) Filed by the Registrant  ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.           )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.           ) Filed by the Registrant x Filed by a Party other than the Registrant ¨ Check the appropriate box: ¨ Preliminary Proxy Statement ¨ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) March 1, 2024 ARES CAPITAL CORPORATI

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) March 1, 2024 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Calculation of Filing Fee Tables Form 424B2 (Form Type) Ares Capital Corporation (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered and Carry Forward Securities

Exhibit 107 Calculation of Filing Fee Tables Form 424B2 (Form Type) Ares Capital Corporation (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered and Carry Forward Securities Security Type Security Class Title Fee Calculation or Carry Forward Rule Amount Registered Proposed Maximum Offering Price Per Unit Maximum Aggregate Offering Price Fee Rate Amount of Registration Fee(1) Fees to Be Paid Equity Common Stock Rule 457(o) $ 1,000,000,000 $ 0.

Report of Independent Registered Public Accounting Firm on Supplemental Information

Exhibit 99.1 Report of Independent Registered Public Accounting Firm on Supplemental Information To the Stockholders and Board of Directors Ares Capital Corporation: We have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (the PCAOB), the consolidated financial statements of Ares Capital Corporation and subsidiaries (the Company) as of Dec

Equity Distribution Agreement, dated as of February 7, 2024, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Regions Securities LLC

Exhibit 10.5 Ares Capital Corporation Up to $1,000,000,000 Shares of Common Stock (par value $0.001 per share) EQUITY DISTRIBUTION AGREEMENT February 7, 2024 Regions Securities LLC 615 South College St., Suite 600 Charlotte, NC 28202 Ladies and Gentlemen: Ares Capital Corporation, a Maryland corporation (the “Company”), Ares Capital Management LLC, a Delaware limited liability company (the “Advise

Equity Distribution Agreement, dated as of February 7, 2024, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Mizuho Securities USA LLC

Exhibit 10.3 Ares Capital Corporation Up to $1,000,000,000 Shares of Common Stock (par value $0.001 per share) EQUITY DISTRIBUTION AGREEMENT February 7, 2024 Mizuho Securities USA LLC 1271 Avenue of the Americas New York, NY10020 Ladies and Gentlemen: Ares Capital Corporation, a Maryland corporation (the “Company”), Ares Capital Management LLC, a Delaware limited liability company (the “Adviser”),

Equity Distribution Agreement, dated as of February 7, 2024, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Jefferies LLC

Exhibit 10.2 Ares Capital Corporation Up to $1,000,000,000 Shares of Common Stock (par value $0.001 per share) EQUITY DISTRIBUTION AGREEMENT February 7, 2024 Jefferies LLC 520 Madison Avenue New York, New York 10022 Ladies and Gentlemen: Ares Capital Corporation, a Maryland corporation (the “Company”), Ares Capital Management LLC, a Delaware limited liability company (the “Adviser”), and Ares Oper

CLAWBACK POLICY ARES CAPITAL CORPORATION

Exhibit 97.1 CLAWBACK POLICY ARES CAPITAL CORPORATION PURPOSE The Board of Directors (the “Board”) of Ares Capital Corporation, a Maryland corporation (the “Company”), believes that it is in the best interests of the Company and its stockholders to create and maintain a culture that emphasizes integrity and accountability. The Board has therefore adopted this policy which provides for the recoupme

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR o TRANSITION REPORT PURSUANT TO SE

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 814-00663 ARES CAPITAL CORPORATION (Exa

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): February 7, 2024 ARES CAPITAL CORPO

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): February 7, 2024 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

SUBSIDIARIES OF ARES CAPITAL CORPORATION Name Jurisdiction AC CORPORATE HOLDINGS, INC. DELAWARE ARCC API CORP. DELAWARE ASCLEPIUS HOLDINGS LLC DELAWARE GEDC EQUITY, LLC DELAWARE SVP HOLDINGS GP LLC DELAWARE ACAS CRE CDO 2007-1, LLC DELAWARE ACAS, LLC

Exhibit 21.1 SUBSIDIARIES OF ARES CAPITAL CORPORATION Name Jurisdiction AC CORPORATE HOLDINGS, INC. DELAWARE ARCC API CORP. DELAWARE ASCLEPIUS HOLDINGS LLC DELAWARE GEDC EQUITY, LLC DELAWARE SVP HOLDINGS GP LLC DELAWARE ACAS CRE CDO 2007-1, LLC DELAWARE ACAS, LLC DELAWARE ALLIED CRESCENT EQUITY, LLC DELAWARE ARCC APEX SPV, LLC DELAWARE ARCC BEACON LLC DELAWARE ARCC BLOCKER CORP. DELAWARE ARCC BLOC

$1,000,000,000 Common Stock

Table of Contents Filed Pursuant to Rule 424(b)(2) Registration No.: 333-256733 PROSPECTUS SUPPLEMENT (To Prospectus dated June 3, 2021) $1,000,000,000 Common Stock We have entered into separate equity distribution agreements with each of Truist Securities, Inc., Jefferies LLC, Mizuho Securities USA LLC, RBC Capital Markets, LLC and Regions Securities LLC (each, a “sales agent”), and our investmen

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) February 7, 2024 ARES CAPITAL CORPOR

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) February 7, 2024 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

ARES CAPITAL CORPORATION ANNOUNCES DECEMBER 31, 2023 FINANCIAL RESULTS AND DECLARES FIRST QUARTER 2024 DIVIDEND OF $0.48 PER SHARE

Exhibit 99.1 ARES CAPITAL CORPORATION ANNOUNCES DECEMBER 31, 2023 FINANCIAL RESULTS AND DECLARES FIRST QUARTER 2024 DIVIDEND OF $0.48 PER SHARE DIVIDEND DECLARATIONS New York, NY — February 7, 2024 — Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) announced that its Board of Directors has declared a first quarter 2024 dividend of $0.48 per share. The first quarter 2024 dividend is payable

Equity Distribution Agreement, dated as of February 7, 2024, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Truist Securities, Inc.

Exhibit 10.1 Ares Capital Corporation Up to $1,000,000,000 Shares of Common Stock (par value $0.001 per share) EQUITY DISTRIBUTION AGREEMENT February 7, 2024 Truist Securities, Inc. 3333 Peachtree Road NE Atlanta, Georgia 30326 Ladies and Gentlemen: Ares Capital Corporation, a Maryland corporation (the “Company”), Ares Capital Management LLC, a Delaware limited liability company (the “Adviser”), a

Equity Distribution Agreement, dated as of February 7, 2024, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and RBC Capital Markets, LLC

Exhibit 10.4 Ares Capital Corporation Up to $1,000,000,000 Shares of Common Stock (par value $0.001 per share) EQUITY DISTRIBUTION AGREEMENT February 7, 2024 RBC Capital Markets, LLC 200 Vesey Street, 8th Floor New York, New York 10281 Ladies and Gentlemen: Ares Capital Corporation, a Maryland corporation (the “Company”), Ares Capital Management LLC, a Delaware limited liability company (the “Advi

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) January 31, 2024 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) January 23, 2024 ARES CAPITAL CORPOR

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) January 23, 2024 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Purchase Agreement, dated as of January 16, 2024, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and BofA Securities, Inc., J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc. and Wells Fargo Securities, LLC, as representatives of the several underwriters named on Schedule A thereto

  Exhibit 1.1   Execution Version   ARES CAPITAL CORPORATION (a Maryland corporation)   $1,000,000,000   5.875% Notes due 2029   PURCHASE AGREEMENT   Dated: January 16, 2024         ARES CAPITAL CORPORATION (a Maryland corporation)   $1,000,000,000   5.875% Notes due 2029   PURCHASE AGREEMENT   January 16, 2024   BofA Securities, Inc. J.P. Morgan Securities LLC SMBC Nikko Securities America, Inc.

Eighteenth Supplemental Indenture, dated as of January 23, 2024, relating to the 5.875% Notes due 2029, between the Company and U.S. Bank Trust Company, National Association, as trustee

  Exhibit 4.1   EIGHTEENTH SUPPLEMENTAL INDENTURE   between   ARES CAPITAL CORPORATION   and   U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION,   as Trustee   Dated as of January 23, 2024      EIGHTEENTH SUPPLEMENTAL INDENTURE   THIS EIGHTEENTH SUPPLEMENTAL INDENTURE (this “Eighteenth Supplemental Indenture”), dated as of January 23, 2024, is between Ares Capital Corporation, a Maryland corporation

Calculation of Filing Fee Tables (Form Type) Ares Capital Corporation (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered and Carry Forward Securities

Exhibit 107 Calculation of Filing Fee Tables 424(b)(2) (Form Type) Ares Capital Corporation (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered and Carry Forward Securities Security Type Security Class Title Fee Calculation or Carry Forward Rule Amount Registered Proposed Maximum Offering Price Per Share Maximum Aggregate Offering Price Fee Rate Amount of Registration Fee Fees to Be Paid Debt 5.

$1,000,000,000 5.875% Notes due 2029

Table of Contents Filed Pursuant to Rule 424(b)(2) Registration No.: 333-256733 PROSPECTUS SUPPLEMENT (To Prospectus dated June 3, 2021) $1,000,000,000 5.875% Notes due 2029 We are offering $1,000,000,000 in aggregate principal amount of 5.875% notes due 2029, which we refer to as the Notes. The Notes will mature on March 1,2029. We will pay interest on the Notes on March 1 and September 1 of each

Ares Capital Corporation $1,000,000,000 5.875% Notes due 2029 PRICING TERM SHEET January 16, 2024

Filed Pursuant to Rule 433 Issuer Free Writing Prospectus dated January 16, 2024 Relating to Preliminary Prospectus Supplement dated January 16, 2024 and Prospectus dated June 3, 2021 Registration No.

Subject to Completion Preliminary Prospectus Supplement dated January 16, 2024

TABLE OF CONTENTS The information in this prospectus supplement is not complete and may be changed.

Sixth Amendment to the Revolving Credit and Security Agreement, dated as of December 14, 2023, among ARCC FB Funding LLC, as borrower, the lenders from time to time parties thereto, BNP Paribas, as administrative agent and lender, the Company, as equityholder and servicer, and U.S. Bank National Association, as collateral agent

  Exhibit 10.1   EXECUTION VERSION   This SIXTH AMENDMENT TO THE REVOLVING CREDIT AND SECURITY AGREEMENT (this “Amendment”), dated as of December 14, 2023 (the “Amendment Date”), is entered into by and among ARCC FB FUNDING LLC, a Delaware limited liability company, as the borrower (the “Borrower”), the LENDERS party to the Revolving Credit Agreement, BNP PARIBAS, as the administrative agent (the

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) December 14, 2023 ARES CAPITAL CORPO

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) December 14, 2023 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) November 17, 2023 ARES CAPITAL CORPO

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) November 17, 2023 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Purchase Agreement, dated as of November 14, 2023, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and BofA Securities, Inc., J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc. and Wells Fargo Securities, LLC, as representatives of the several underwriters named on Schedule A thereto

Exhibit 1.1 Execution Version ARES CAPITAL CORPORATION (a Maryland corporation) $300,000,000 7.000% Notes due 2027 PURCHASE AGREEMENT Dated: November 14, 2023 ARES CAPITAL CORPORATION (a Maryland corporation) $300,000,000 7.000% Notes due 2027 PURCHASE AGREEMENT November 14, 2023 BofA Securities, Inc. J.P. Morgan Securities LLC SMBC Nikko Securities America, Inc. Wells Fargo Securities, LLC As Rep

$300,000,000 7.000% Notes due 2027

Table of Contents Filed Pursuant to Rule 424(b)(2) Registration No.: 333-256733 PROSPECTUS SUPPLEMENT (To Prospectus dated June 3, 2021) $300,000,000 7.000% Notes due 2027 We are offering $300,000,000 in aggregate principal amount of 7.000% notes due 2027, which we refer to as the Notes. The Notes will mature on January 15, 2027. We will pay interest on the Notes on January 15 and July 15 of each

Calculation of Filing Fee Tables (Form Type) Ares Capital Corporation (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered and Carry Forward Securities

Exhibit 107 Calculation of Filing Fee Tables 424(b)(2) (Form Type) Ares Capital Corporation (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered and Carry Forward Securities Security Type Security Class Title Fee Calculation or Carry Forward Rule Amount Registered Proposed Maximum Offering Price Per Share Maximum Aggregate Offering Price Fee Rate Amount of Registration Fee Fees to Be Paid Debt 7.

Subject to Completion Preliminary Prospectus Supplement dated November 14, 2023

TABLE OF CONTENTS The information in this prospectus supplement is not complete and may be changed.

Ares Capital Corporation $300,000,000 7.000% Notes due 2027 PRICING TERM SHEET November 14, 2023

Filed Pursuant to Rule 433 Issuer Free Writing Prospectus dated November 14, 2023 Relating to Preliminary Prospectus Supplement dated November 14, 2023 and Prospectus dated June 3, 2021 Registration No.

Ares Capital Corporation Appoints Scott Lem as Chief Financial Officer Penni Roll to Step Down as Chief Financial Officer of Ares Capital Corporation

Exhibit 99.1 Ares Capital Corporation Appoints Scott Lem as Chief Financial Officer Penni Roll to Step Down as Chief Financial Officer of Ares Capital Corporation NEW YORK – November 9, 2023 – Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) announced today that Ares Capital’s Chief Accounting Officer, Vice President and Treasurer, Scott Lem, has been appointed as its new Chief Financial O

Regulation FD Disclosure, Financial Statements and Exhibits, Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) November 6, 2023 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 o TRANSITION REPORT PURSUANT

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 814-00663 ARES CAPITAL CORPORA

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) October 24, 2023 ARES CAPITAL CORPOR

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) October 24, 2023 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

ARES CAPITAL CORPORATION ANNOUNCES SEPTEMBER 30, 2023 FINANCIAL RESULTS AND DECLARES FOURTH QUARTER 2023 DIVIDEND OF $0.48 PER SHARE

Exhibit 99.1 ARES CAPITAL CORPORATION ANNOUNCES SEPTEMBER 30, 2023 FINANCIAL RESULTS AND DECLARES FOURTH QUARTER 2023 DIVIDEND OF $0.48 PER SHARE DIVIDEND DECLARATIONS New York, NY — October 24, 2023 — Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) announced that its Board of Directors has declared a fourth quarter 2023 dividend of $0.48 per share. The fourth quarter 2023 dividend is pay

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) August 8, 2023 ARES CAPITAL CORPORAT

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) August 8, 2023 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Seventeenth Supplemental Indenture, dated as of August 3, 2023, relating to the 7.000% Notes due 2027, between the Company and U.S. Bank Trust Company, National Association, as trustee

Exhibit 4.1 SEVENTEENTH SUPPLEMENTAL INDENTURE between ARES CAPITAL CORPORATION and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee Dated as of August 3, 2023 SEVENTEENTH SUPPLEMENTAL INDENTURE THIS SEVENTEENTH SUPPLEMENTAL INDENTURE (this “Seventeenth Supplemental Indenture”), dated as of August 3, 2023, is between Ares Capital Corporation, a Maryland corporation (the “Company”), and U.

Purchase Agreement, dated as of July 27, 2023, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and BofA Securities, Inc., J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc. and Wells Fargo Securities, LLC, as representatives of the several underwriters named on Schedule A thereto

Exhibit 1.1 EXECUTION VERSION ARES CAPITAL CORPORATION (a Maryland corporation) $600,000,000 7.000% Notes due 2027 PURCHASE AGREEMENT Dated: July 27, 2023 ARES CAPITAL CORPORATION (a Maryland corporation) $600,000,000 7.000% Notes due 2027 PURCHASE AGREEMENT July 27, 2023 BofA Securities, Inc. J.P. Morgan Securities LLC SMBC Nikko Securities America, Inc. Wells Fargo Securities, LLC As Representat

Entry into a Material Definitive Agreement, Financial Statements and Exhibits, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Other Events

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) August 3, 2023 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

$600,000,000 7.000% Notes due 2027

Table of Contents Filed Pursuant to Rule 424(b)(2) Registration No.: 333-256733 PROSPECTUS SUPPLEMENT (To Prospectus dated June 3, 2021) $600,000,000 7.000% Notes due 2027 We are offering $600,000,000 in aggregate principal amount of 7.000% notes due 2027, which we refer to as the Notes. The Notes will mature on January 15, 2027. We will pay interest on the Notes on January 15 and July 15 of each

Calculation of Filing Fee Tables (Form Type) Ares Capital Corporation (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered and Carry Forward Securities

Exhibit 107 Calculation of Filing Fee Tables 424(b)(2) (Form Type) Ares Capital Corporation (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered and Carry Forward Securities Security Type Security Class Title Fee Calculation or Carry Forward Rule Amount Registered Proposed Maximum Offering Price Per Share Maximum Aggregate Offering Price Fee Rate Amount of Registration Fee Fees to Be Paid Debt 7.

Ares Capital Corporation $600,000,000 7.000% Notes due 2027 PRICING TERM SHEET July 27, 2023

  Filed Pursuant to Rule 433 Issuer Free Writing Prospectus dated July 27, 2023 Relating to Preliminary Prospectus Supplement dated July 27, 2023 and Prospectus dated June 3, 2021 Registration No.

Subject to Completion Preliminary Prospectus Supplement dated July 27, 2023

TABLE OF CONTENTS The information in this prospectus supplement is not complete and may be changed.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant x Filed by a Party other than the Registrant ¨ Check the appropriate box: ¨ Preliminary Proxy Statement ¨ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ¨ Defin

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 o TRANSITION REPORT PURSUANT TO S

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 814-00663 ARES CAPITAL CORPORATION

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) July 25, 2023 ARES CAPITAL CORPORATI

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) July 25, 2023 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Equity Distribution Agreement, dated as of July 25, 2023, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Mizuho Securities USA LLC

Exhibit 10.2 Ares Capital Corporation Up to $1,000,000,000 Shares of Common Stock (par value $0.001 per share) EQUITY DISTRIBUTION AGREEMENT July 25, 2023 Mizuho Securities USA LLC 1271 Avenue of the Americas New York, NY 10020 Ladies and Gentlemen: Ares Capital Corporation, a Maryland corporation (the “Company”), Ares Capital Management LLC, a Delaware limited liability company (the “Adviser”), a

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) July 25, 2023 ARES CAPITAL CORPORATI

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) July 25, 2023 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Equity Distribution Agreement, dated as of July 25, 2023, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Jefferies LLC

Exhibit 10.1 Ares Capital Corporation Up to $1,000,000,000 Shares of Common Stock (par value $0.001 per share) EQUITY DISTRIBUTION AGREEMENT July 25, 2023 Jefferies LLC 520 Madison Avenue New York, New York 10022 Ladies and Gentlemen: Ares Capital Corporation, a Maryland corporation (the “Company”), Ares Capital Management LLC, a Delaware limited liability company (the “Adviser”), and Ares Operati

$1,000,000,000 Common Stock

Filed Pursuant to Rule 424(b)(3) Registration No. 333-256733 Supplement No. 1, dated July 25, 2023 To Prospectus Supplement, dated April 25, 2023 (To Prospectus dated June 3, 2021) $1,000,000,000 Common Stock This supplement (this “Supplement”) contains information that amends, supplements and modifies certain information contained in the base prospectus, dated June 3, 2021 (the “Base Prospectus”)

ARES CAPITAL CORPORATION ANNOUNCES JUNE 30, 2023 FINANCIAL RESULTS AND DECLARES THIRD QUARTER 2023 DIVIDEND OF $0.48 PER SHARE

Exhibit 99.1 ARES CAPITAL CORPORATION ANNOUNCES JUNE 30, 2023 FINANCIAL RESULTS AND DECLARES THIRD QUARTER 2023 DIVIDEND OF $0.48 PER SHARE DIVIDEND DECLARATIONS New York, NY — July 25, 2023 — Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) announced that its Board of Directors has declared a third quarter 2023 dividend of $0.48 per share. The third quarter 2023 dividend is payable on Sep

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.      )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.      ) Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☒

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.           )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.           ) Filed by the Registrant x Filed by a Party other than the Registrant ¨ Check the appropriate box: ¨ Preliminary Proxy Statement ¨ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.           )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.           ) Filed by the Registrant x Filed by a Party other than the Registrant ¨ Check the appropriate box: ¨ Preliminary Proxy Statement ¨ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) May 17, 2023 ARES CAPITAL CORPORATIO

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) May 17, 2023 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Uncommitted Continuing Agreement for Standby Letters of Credit and Demand Guarantees, dated as of May 11, 2023, between Ares Capital Corporation and Deutsche Bank AG New York Branch, as the issuer

Exhibit 10.1 EXECUTION VERSION Deutsche Bank For Bank Use Only. Insert Applicant Name: Ares Capital Corporation UNCOMMITTED CONTINUING AGREEMENT FOR STANDBY LETTERS OF CREDIT AND DEMAND GUARANTEES May 11, 2023 (Date) Deutsche Bank AG New York Branch 1 Columbus Circle New York, NY 10019 Attention: Jonathan Lidz To induce you, in your sole discretion from time to time, to issue one or more irrevocab

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) May 11, 2023 ARES CAPITAL CORPORATIO

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) May 11, 2023 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.      )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.      ) Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☒ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☐

Amendment No. 9, dated as of April 28, 2023, among Ares Capital JB Funding LLC, as borrower, Ares Capital Corporation, as servicer and transferor, Sumitomo Mitsui Banking Corporation, as administrative agent, lender and collateral agent, and U.S. Bank National Association, as collateral custodian and bank (amending the Loan and Servicing Agreement, dated as of January 20, 2012)

Exhibit 10.1 EXECUTION VERSION AMENDMENT NO. 9 (Ares Capital JB Funding LLC) THIS AMENDMENT NO. 9, dated as of April 28, 2023 (this “Amendment”), is entered into by and among Ares Capital JB Funding LLC, as the borrower (together with its successors and assigns in such capacity, the “Borrower”), Ares Capital Corporation, as the servicer (together with its successors and assigns in such capacity, t

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) May 4, 2023 ARES CAPITAL CORPORATION

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) May 4, 2023 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Equity Distribution Agreement, dated as of April 25, 2023, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Regions Securities LLC

Exhibit 10.1 Ares Capital Corporation Up to $1,000,000,000 Shares of Common Stock (par value $0.001 per share) EQUITY DISTRIBUTION AGREEMENT April 25, 2023 Regions Securities LLC 615 South College St., Suite 600 Charlotte, NC 28202 Ladies and Gentlemen: Ares Capital Corporation, a Maryland corporation (the “Company”), Ares Capital Management LLC, a Delaware limited liability company (the “Adviser”

Fifth Amendment to the Revolving Credit and Security Agreement, dated as of April 20, 2023, among ARCC FB Funding LLC, as borrower, the lenders from time to time parties thereto, BNP Paribas, as administrative agent and lender, Ares Capital Corporation, as equityholder and servicer, and U.S. Bank National Association, as collateral agent

Exhibit 10.3 EXECUTION VERSION This FIFTH AMENDMENT TO THE REVOLVING CREDIT AND SECURITY AGREEMENT (this “Amendment”), dated as of April 20, 2023 (the “Amendment Date”), is entered into by and among ARCC FB FUNDING LLC, a Delaware limited liability company, as the borrower (the “Borrower”), the LENDERS party to the Revolving Credit Agreement, BNP PARIBAS, as the administrative agent (the “Administ

FOURTEENTH AMENDED AND RESTATED SENIOR SECURED CREDIT AGREEMENT dated as of April 19, 2023 ARES CAPITAL CORPORATION The LENDERS Party Hereto JPMORGAN CHASE BANK, N.A. as Administrative Agent Bank of America, N.A., TRUIST BANK, SUMITOMO MITSUI BANKING

Exhibit 10.1 Execution Version FOURTEENTH AMENDED AND RESTATED SENIOR SECURED CREDIT AGREEMENT dated as of April 19, 2023 between ARES CAPITAL CORPORATION The LENDERS Party Hereto and JPMORGAN CHASE BANK, N.A. as Administrative Agent Bank of America, N.A., TRUIST BANK, SUMITOMO MITSUI BANKING CORPORATION, WELLS FARGO BANK, NATIONAL ASSOCIATION as Syndication Agents $4,758,000,000 JPMORGAN CHASE BA

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 o TRANSITION REPORT PURSUANT TO

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 814-00663 ARES CAPITAL CORPORATION

ARES CAPITAL CORPORATION ANNOUNCES MARCH 31, 2023 FINANCIAL RESULTS AND DECLARES SECOND QUARTER 2023 DIVIDEND OF $0.48 PER SHARE

Exhibit 99.1 ARES CAPITAL CORPORATION ANNOUNCES MARCH 31, 2023 FINANCIAL RESULTS AND DECLARES SECOND QUARTER 2023 DIVIDEND OF $0.48 PER SHARE DIVIDEND DECLARATIONS New York, NY — April 25, 2023 — Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) announced that its Board of Directors has declared a second quarter 2023 dividend of $0.48 per share. The second quarter 2023 dividend is payable o

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) April 25, 2023 ARES CAPITAL CORPORAT

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) April 25, 2023 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Articles of Amendment and Restatement, as amended

Exhibit 3.1 [Conformed Copy as of April 24, 2023] ARES CAPITAL CORPORATION ARTICLES OF AMENDMENT AND RESTATEMENT FIRST: Ares Capital Corporation, a Maryland corporation (the “Corporation”), desires to amend and restate its charter as currently in effect and as hereinafter amended. SECOND: The following provisions are all the provisions of the charter currently in effect and as hereinafter amended:

Calculation of Filing Fee Tables Form 424B2 (Form Type) Ares Capital Corporation (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered and Carry Forward Securities

Exhibit 107 Calculation of Filing Fee Tables Form 424B2 (Form Type) Ares Capital Corporation (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered and Carry Forward Securities Security Type Security Class Title Fee Calculation or Carry Forward Rule Amount Registered Proposed Maximum Offering Price Per Unit Maximum Aggregate Offering Price Fee Rate Amount of Registration Fee(1) Fees to Be Paid Equity Common Stock Rule 457(o) $ 1,000,000,000 $ 0.

$1,000,000,000 Common Stock

Table of Contents PROSPECTUS SUPPLEMENT (To Prospectus dated June 3, 2021) $1,000,000,000 Common Stock We have entered into separate equity distribution agreements with each of Truist Securities, Inc.

Equity Distribution Agreement, dated as of April 25, 2023, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Truist Securities, Inc.

Exhibit 10.2 Ares Capital Corporation Up to $1,000,000,000 Shares of Common Stock (par value $0.001 per share) EQUITY DISTRIBUTION AGREEMENT April 25, 2023 Truist Securities, Inc. 3333 Peachtree Road NE Atlanta, Georgia 30326 Ladies and Gentlemen: Ares Capital Corporation, a Maryland corporation (the “Company”), Ares Capital Management LLC, a Delaware limited liability company (the “Adviser”), and

Equity Distribution Agreement, dated as of April 25, 2023, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and SMBC Nikko Securities America, Inc.

Exhibit 10.3 Ares Capital Corporation Up to $1,000,000,000 Shares of Common Stock (par value $0.001 per share) EQUITY DISTRIBUTION AGREEMENT April 25, 2023 SMBC Nikko Securities America, Inc. 277 Park Avenue New York, New York 10172 Ladies and Gentlemen: Ares Capital Corporation, a Maryland corporation (the “Company”), Ares Capital Management LLC, a Delaware limited liability company (the “Adviser

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): April 25, 2023 ARES CAPITAL CORPORA

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): April 25, 2023 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.           )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.           ) Filed by the Registrant x Filed by a Party other than the Registrant ¨ Check the appropriate box: ¨ Preliminary Proxy Statement ¨ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K/A (Amendment No. 1) ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR o TRANSITION R

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K/A (Amendment No. 1) ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 814-00663 ARES CAPI

IVY HILL ASSET MANAGEMENT, L.P. Consolidated Financial Statements For the Year Ended December 31, 2022 (With Independent Auditors' Report Thereon) Report of Independent Auditors 1 Consolidated Balance Sheets as of December 31, 2022 and 2021 3 Consoli

Exhibit 99.2 IVY HILL ASSET MANAGEMENT, L.P. Consolidated Financial Statements For the Year Ended December 31, 2022 (With Independent Auditors' Report Thereon) Contents Report of Independent Auditors 1 Consolidated Balance Sheets as of December 31, 2022 and 2021 3 Consolidated Statements of Operations for the years ended December 31, 2022, 2021 and 2020 4 Consolidated Statements of Changes in Equi

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.           )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.           ) Filed by the Registrant x Filed by a Party other than the Registrant ¨ Check the appropriate box: ¨ Preliminary Proxy Statement ¨ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.           )

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.           ) Filed by the Registrant x Filed by a Party other than the Registrant ¨ Check the appropriate box: ¨ Preliminary Proxy Statement ¨ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2

Definitive Proxy Statement on Schedule 14A for our 2023 Annual Meeting of Stockholders, filed with the SEC on March 17, 2023

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No.        ) Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR o TRANSITION REPORT PURSUANT TO SE

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 814-00663 ARES CAPITAL CORPORATION (Exa

Report of Independent Registered Public Accounting Firm on Supplemental Information

Exhibit 99.1 Report of Independent Registered Public Accounting Firm on Supplemental Information To the Stockholders and Board of Directors Ares Capital Corporation: We have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (the PCAOB), the consolidated financial statements of Ares Capital Corporation and subsidiaries (the Company) as of Dec

Fourth Amendment to the Revolving Credit and Security Agreement, dated as of January 9, 2023, among ARCC FB Funding LLC, as borrower, the lenders from time to time parties thereto, BNP Paribas, as administrative agent and lender, Ares Capital Corporation, as equityholder and servicer, and U.S. Bank National Association, as collateral agent

Exhibit 10.38 EXECUTION VERSION This FOURTH AMENDMENT TO THE REVOLVING CREDIT AND SECURITY AGREEMENT (this “Amendment”), dated as of January 9, 2023 (the “Amendment Date”), is entered into by and among ARCC FB FUNDING LLC, a Delaware limited liability company, as the borrower (the “Borrower”), the LENDERS party to the Revolving Credit Agreement, BNP PARIBAS, as the administrative agent (the “Admin

ARES CAPITAL CORPORATION ANNOUNCES DECEMBER 31, 2022 FINANCIAL RESULTS AND DECLARES FIRST QUARTER 2023 DIVIDEND OF $0.48 PER SHARE

Exhibit 99.1 ARES CAPITAL CORPORATION ANNOUNCES DECEMBER 31, 2022 FINANCIAL RESULTS AND DECLARES FIRST QUARTER 2023 DIVIDEND OF $0.48 PER SHARE DIVIDEND DECLARATIONS New York, NY — February 7, 2023 — Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) announced that its Board of Directors has declared a first quarter 2023 dividend of $0.48 per share. The first quarter 2023 dividend is payable

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) February 7, 2023 ARES CAPITAL CORPOR

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) February 7, 2023 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Third Amendment to the Revolving Credit and Security Agreement, dated as of August 17, 2022, among ARCC FB Funding LLC, as borrower, the lenders from time to time parties thereto, BNP Paribas, as administrative agent and lender, Ares Capital Corporation, as equityholder and servicer, and U.S. Bank Trust Company, National Association, as collateral agent

Exhibit 10.37 EXECUTION VERSION This THIRD AMENDMENT TO THE REVOLVING CREDIT AND SECURITY AGREEMENT (this “Amendment”), dated as of August 17, 2022 (the “Amendment Date”), is entered into by and among ARCC FB FUNDING LLC, a Delaware limited liability company, as the borrower (the “Borrower”), the LENDERS party to the Revolving Credit Agreement, BNP PARIBAS, as the administrative agent (the “Admini

SUBSIDIARIES OF ARES CAPITAL CORPORATION Name Jurisdiction AC CORPORATE HOLDINGS, INC. DELAWARE ACAS CRE CDO 2007-1, LLC DELAWARE ACAS, LLC DELAWARE ALLIED CRESCENT EQUITY, LLC DELAWARE ARCC APEX SPV, LLC DELAWARE ARCC BEACON LLC DELAWARE ARCC BLOCKE

Exhibit 21.1 SUBSIDIARIES OF ARES CAPITAL CORPORATION Name Jurisdiction AC CORPORATE HOLDINGS, INC. DELAWARE ACAS CRE CDO 2007-1, LLC DELAWARE ACAS, LLC DELAWARE ALLIED CRESCENT EQUITY, LLC DELAWARE ARCC APEX SPV, LLC DELAWARE ARCC BEACON LLC DELAWARE ARCC BLOCKER CORP. DELAWARE ARCC BLOCKER II LLC DELAWARE ARCC BLOCKER III LLC DELAWARE ARCC BLOCKER IV LLC DELAWARE ARCC BLOCKER V LLC DELAWARE ARCC

Ares Capital Corporation Appoints Jana Markowicz as Chief Operating Officer

Exhibit 99.1 Ares Capital Corporation Appoints Jana Markowicz as Chief Operating Officer NEW YORK—January 19, 2023—Ares Capital Corporation (“Ares Capital”) (NASDAQ: ARCC) announced today that Jana Markowicz was appointed as its Chief Operating Officer (COO). In this newly created role, Ms. Markowicz will also serve as COO of Ares Management’s (“Ares”) U.S. Direct Lending strategy where she will c

Regulation FD Disclosure, Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers, Financial Statements and Exhibits

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) January 18, 2023 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Purchase Agreement, dated as of January 12, 2023, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Morgan Stanley & Co. LLC, BofA Securities, Inc. and UBS Securities LLC, as representatives of the several underwriters named on Schedule A thereto

Exhibit 1.1 EXECUTION VERSION ARES CAPITAL CORPORATION (a Maryland corporation) 10,500,000 Shares of Common Stock PURCHASE AGREEMENT Dated: January 12, 2023 ARES CAPITAL CORPORATION (a Maryland corporation) 10,500,000 Shares of Common Stock (Par Value $0.001 Per Share) PURCHASE AGREEMENT January 12, 2023 Morgan Stanley & Co. LLC BofA Securities, Inc. UBS Securities LLC As Representatives of the Un

Financial Statements and Exhibits, Other Events

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): January 18, 2023 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Calculation of Filing Fee Tables (Form Type) Ares Capital Corporation (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered and Carry Forward Securities

Exhibit 107 Calculation of Filing Fee Tables 424(b)(2) (Form Type) Ares Capital Corporation (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered and Carry Forward Securities Security Type Security Class Title Fee Calculation or Carry Forward Rule Amount Registered(1) Proposed Maximum Offering Price Per Share(2) Maximum Aggregate Offering Price Fee Rate Amount of Registration Fee(3) Equity Common Stock Rule 456(b), Rule 457(c) and Rule 457(r) 12,075,000 $19.

10,500,000 Shares Common Stock

Table of Contents  Filed Pursuant to Rule 424(b)(2)  Registration No.: 333-256733 PROSPECTUS SUPPLEMENT (To Prospectus dated June 3, 2021) 10,500,000 Shares Common Stock We are offering for sale 10,500,000 shares of our common stock. Ares Capital Corporation is a specialty finance company that is a closed-end, non-diversified management investment company incorporated in Maryland. We have elected

Subject to Completion Preliminary Prospectus Supplement dated January 12, 2023

424B2 1 tm233240-1424b2.htm 424B2 TABLE OF CONTENTS The information in this prospectus supplement is not complete and may be changed. This prospectus supplement is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.  Filed Pursuant to Rule 424(b)(2)  Registration No.: 333-256733 Subject to Com

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) January 12, 2023 ARES CAPITAL CORPOR

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) January 12, 2023 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) January 9, 2023 ARES CAPITAL CORPORA

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) January 9, 2023 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Fourth Amendment to the Revolving Credit and Security Agreement, dated as of January 9, 2023, among ARCC FB Funding LLC, as borrower, the lenders from time to time parties thereto, BNP Paribas, as administrative agent and lender, Ares Capital Corporation, as equityholder and servicer, and U.S. Bank National Association, as collateral agent.

Exhibit 10.1 EXECUTION VERSION This FOURTH AMENDMENT TO THE REVOLVING CREDIT AND SECURITY AGREEMENT (this “Amendment”), dated as of January 6, 2023 (the “Amendment Date”), is entered into by and among ARCC FB FUNDING LLC, a Delaware limited liability company, as the borrower (the “Borrower”), the LENDERS party to the Revolving Credit Agreement, BNP PARIBAS, as the administrative agent (the “Admini

Purchase Agreement, dated as of November 7, 2022, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Morgan Stanley & Co. LLC, BofA Securities, Inc. and UBS Securities LLC, as representatives of the several underwriters named on Schedule A thereto

EX-1.1 2 tm2230214d1ex1-1.htm EXHIBIT 1.1 Exhibit 1.1 EXECUTION VERSION ARES CAPITAL CORPORATION (a Maryland corporation) 8,000,000 Shares of Common Stock PURCHASE AGREEMENT Dated: November 7, 2022 ARES CAPITAL CORPORATION (a Maryland corporation) 8,000,000 Shares of Common Stock (Par Value $0.001 Per Share) PURCHASE AGREEMENT November 7, 2022 Morgan Stanley & Co. LLC BofA Securities, Inc. UBS Sec

Financial Statements and Exhibits, Other Events

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): November 10, 2022 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

8,000,000 Shares Common Stock

Table of Contents Filed Pursuant to Rule 424(b)(2) Registration No.: 333-256733 PROSPECTUS SUPPLEMENT (To Prospectus dated June 3, 2021) 8,000,000 Shares Common Stock We are offering for sale 8,000,000 shares of our common stock. Ares Capital Corporation is a specialty finance company that is a closed-end, non-diversified management investment company incorporated in Maryland. We have elected to b

Calculation of Filing Fee Tables (Form Type) Ares Capital Corporation (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered and Carry Forward Securities

Exhibit 107 Calculation of Filing Fee Tables 424(b)(2) (Form Type) Ares Capital Corporation (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered and Carry Forward Securities Security Type Security Class Title Fee Calculation or Carry Forward Rule Amount Registered(1) Proposed Maximum Offering Price Per Share(2) Maximum Aggregate Offering Price Fee Rate Amount of Registration Fee(3) Equity Common Stock Rule 456(b), Rule 457(c) and Rule 457(r) 9,200,000 $19.

Subject to Completion Preliminary Prospectus Supplement dated November 7, 2022

TABLE OF CONTENTS The information in this prospectus supplement is not complete and may be changed.

ARTICLE I.

Exhibit 10.1 EXECUTION VERSION This SECOND AMENDMENT TO THE REVOLVING CREDIT AND SECURITY AGREEMENT (this ?Amendment?), dated as of August 17, 2022 (the ?Amendment Date?), is entered into by and among ARCC FB FUNDING LLC, a Delaware limited liability company, as the borrower (the ?Borrower?), the LENDERS party to the Revolving Credit Agreement, BNP PARIBAS, as the administrative agent (the ?Admini

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) October 25, 2022 ARES CAPITAL CORPOR

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) October 25, 2022 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 o TRANSITION REPORT PURSUANT

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 814-00663 ARES CAPITAL CORPORA

Ares Capital Corporation Appoints Kort Schnabel as Co-President and Michael Smith Joins Board of Directors

Exhibit 99.2 Ares Capital Corporation Appoints Kort Schnabel as Co-President and Michael Smith Joins Board of Directors NEW YORK, NY ? October 25, 2022 ? Ares Capital Corporation (?Ares Capital?) (NASDAQ: ARCC) announced today that Kort Schnabel was appointed as Co-President. Concurrently, Michael Smith stepped down as Co-President and has been appointed to the Ares Capital Board of Directors. Mr.

ARES CAPITAL CORPORATION ANNOUNCES SEPTEMBER 30, 2022 FINANCIAL RESULTS AND DECLARES FOURTH QUARTER 2022 DIVIDEND OF $0.48 PER SHARE

Exhibit 99.1 ARES CAPITAL CORPORATION ANNOUNCES SEPTEMBER 30, 2022 FINANCIAL RESULTS AND DECLARES FOURTH QUARTER 2022 DIVIDEND OF $0.48 PER SHARE DIVIDEND DECLARATIONS New York, NY ? October 25, 2022 ? Ares Capital Corporation (?Ares Capital?) (NASDAQ: ARCC) announced that its Board of Directors has declared a fourth quarter dividend of $0.48 per share. The fourth quarter dividend is payable on De

Submission of Matters to a Vote of Security Holders

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) August 4, 2022 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.

Purchase Agreement, dated as of July 28, 2022, among Ares Capital Corporation, Ares Capital Management LLC, Ares Operations LLC and Morgan Stanley & Co. LLC, BofA Securities, Inc. and UBS Securities LLC, as representatives of the several underwriters named on Schedule A thereto

EX-1.1 2 tm2222289d1ex1-1.htm EXHIBIT 1.1 Exhibit 1.1 EXECUTION VERSION ARES CAPITAL CORPORATION (a Maryland corporation) 8,000,0000 Shares of Common Stock PURCHASE AGREEMENT Dated: July 28, 2022 ARES CAPITAL CORPORATION (a Maryland corporation) 8,000,0000 Shares of Common Stock (Par Value $0.001 Per Share) PURCHASE AGREEMENT July 28, 2022 Morgan Stanley & Co. LLC BofA Securities, Inc. UBS Securit

Financial Statements and Exhibits, Other Events

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): August 2, 2022 ARES CAPITAL CORPORATION (Exact Name of Registrant as Specified in Charter) Maryland 814-00663 33-1089684 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.