<SEC-DOCUMENT>0001104659-14-039380.txt : 20140515
<SEC-HEADER>0001104659-14-039380.hdr.sgml : 20140515
<ACCEPTANCE-DATETIME>20140515163016
ACCESSION NUMBER:		0001104659-14-039380
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20140515
DATE AS OF CHANGE:		20140515
EFFECTIVENESS DATE:		20140515

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARES CAPITAL CORP
		CENTRAL INDEX KEY:			0001287750
		IRS NUMBER:				331089684
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	814-00663
		FILM NUMBER:		14847820

	BUSINESS ADDRESS:	
		STREET 1:		245 PARK AVENUE, 44TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10167
		BUSINESS PHONE:		2127507300

	MAIL ADDRESS:	
		STREET 1:		245 PARK AVENUE, 44TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10167
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>a14-12855_1defa14a.htm
<DESCRIPTION>DEFA14A
<TEXT>


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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">UNITED STATES</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Washington, D.C. 20549</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="4" face="Times New Roman" style="font-size:14.0pt;font-weight:bold;">SCHEDULE 14A</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Proxy Statement Pursuant to Section&nbsp;14(a)&nbsp;of</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the Securities Exchange Act of 1934 (Amendment No.&nbsp;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; )</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p style="margin:0in 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Filed by the Registrant </font><font size="2" face="Wingdings" style="font-size:10.0pt;">x</font></p>    </td>   </tr>
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<p style="margin:4.0pt 0in .0001pt 10.1pt;text-indent:-10.1pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Filed by a Party other than the Registrant </font><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>    </td>   </tr>
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<td width="100%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:4.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the appropriate box:</font></p>    </td>   </tr>
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<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>    </td>
<td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Preliminary Proxy Statement</font></p>    </td>   </tr>
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<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>    </td>
<td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.9%;">
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Confidential, for Use of the Commission Only (as   permitted by Rule&nbsp;14a-6(e)(2))</font></b></p>    </td>   </tr>
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<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>    </td>
<td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Definitive Proxy Statement</font></p>    </td>   </tr>
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<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">x</font></p>    </td>
<td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Definitive Additional Materials</font></p>    </td>   </tr>
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<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.1%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>    </td>
<td width="94%" valign="top" style="padding:0in 0in 0in 0in;width:94.9%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Soliciting Material under &#167;240.14a-12</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
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<td width="100%" colspan="3" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:100.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ARES CAPITAL CORPORATION</font></b></p>    </td>   </tr>
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<td width="100%" colspan="3" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:100.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Name of Registrant as Specified In Its Charter)</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="100%" colspan="3" valign="top" style="border:none;padding:0in 0in 0in 0in;width:100.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Name of Person(s)&nbsp;Filing Proxy Statement, if other than the   Registrant)</font></p>    </td>   </tr>
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<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </td>   </tr>
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<td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Payment of Filing Fee (Check the appropriate box):</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.28%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">x</font></p>    </td>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.72%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">No fee required.</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.28%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>    </td>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.72%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fee computed on table below per Exchange Act Rules&nbsp;14a-6(i)(1)&nbsp;and&nbsp;0-11.</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.28%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font></p>    </td>
<td width="89%" valign="top" style="padding:0in 0in 0in 0in;width:89.86%;">    <div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title of each class of   securities to which transaction applies: </font></p>
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </div>    </td>   </tr>
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<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.28%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font></p>    </td>
<td width="89%" valign="top" style="padding:0in 0in 0in 0in;width:89.86%;">    <div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Aggregate number of   securities to which transaction applies: </font></p>
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </div>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.28%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)</font></p>    </td>
<td width="89%" valign="top" style="padding:0in 0in 0in 0in;width:89.86%;">    <div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Per unit price or other   underlying value of transaction computed pursuant to Exchange Act Rule&nbsp;0-11   (set forth the amount on which the filing fee is calculated and state how it   was determined): </font></p>
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </div>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.28%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)</font></p>    </td>
<td width="89%" valign="top" style="padding:0in 0in 0in 0in;width:89.86%;">    <div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Proposed maximum aggregate   value of transaction: </font></p>
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </div>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.28%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(5)</font></p>    </td>
<td width="89%" valign="top" style="padding:0in 0in 0in 0in;width:89.86%;">    <div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Total fee paid: </font></p>
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>    </div>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.28%;">
<p style="margin:3.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>    </td>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.72%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Fee paid previously with preliminary materials.</font></p>    </td>   </tr>
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<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.28%;">
<p style="margin:3.0pt 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>    </td>
<td width="94%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:94.72%;">
<p style="margin:3.0pt 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check box if any part of the fee is offset as provided by Exchange   Act Rule&nbsp;0-11(a)(2)&nbsp;and identify the filing for which the   offsetting fee was paid previously. Identify the previous filing by   registration statement number, or the Form&nbsp;or Schedule and the date of   its filing.</font></p>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.28%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(1)</font></p>    </td>
<td width="89%" valign="top" style="padding:0in 0in 0in 0in;width:89.86%;">    <div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amount Previously Paid: <br> &nbsp;&nbsp;&nbsp;&nbsp; </font></p>
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>    </div>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.28%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(2)</font></p>    </td>
<td width="89%" valign="top" style="padding:0in 0in 0in 0in;width:89.86%;">    <div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Form, Schedule or   Registration Statement No.: <br> &nbsp;&nbsp;&nbsp;&nbsp; </font></p>
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>    </div>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.28%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(3)</font></p>    </td>
<td width="89%" valign="top" style="padding:0in 0in 0in 0in;width:89.86%;">    <div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Filing Party: <br> &nbsp;&nbsp;&nbsp;&nbsp; </font></p>
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="1" face="Times New Roman" style="font-size:7.0pt;">&nbsp;</font></p>    </div>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.28%;">
<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.86%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(4)</font></p>    </td>
<td width="89%" valign="top" style="padding:0in 0in 0in 0in;width:89.86%;">    <div style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;">
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date Filed: </font></p>
<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>    </div>    </td>   </tr>
<tr style="page-break-inside:avoid;">
<td width="5%" valign="top" style="padding:0in 0in 0in 0in;width:5.28%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="4%" valign="top" style="padding:0in 0in 0in 0in;width:4.86%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="89%" valign="top" style="padding:0in 0in 0in 0in;width:89.86%;">
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<div style="font-family:Times New Roman;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman"><img width="110" height="34" src="g128551bci001.gif" alt="GRAPHIC"></font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Ares Capital Corporation</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">245 Park Avenue, 44th Floor</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">&#160;New York, NY 10167</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">YOUR VOTE IS IMPORTANT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">PLEASE VOTE TODAY</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p align="right" style="margin:0in 0in .0001pt 220.5pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">May&nbsp;15, 2014</font></p>
<p align="center" style="margin:0in 0in .0001pt 220.5pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Dear Stockholder:</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">We have previously mailed to you proxy materials in connection with the 2014 Annual Meeting of Stockholders of Ares Capital Corporation (the &#147;Company&#148;) to be held on Monday, June&nbsp;2, 2014.&#160; <b>Your vote is extremely important and your participation is requested for this important meeting.</b></font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Your Board of Directors recommends that you vote <b>FOR </b>all director nominees in Proposal 1 and <b>FOR</b> Proposals 2 and 3.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><b><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">Please submit your instructions as soon as possible, by voting by telephone, via the Internet, or by signing, dating, marking and returning the voting instruction form in the postage-paid return envelope provided.&#160; </font></b><font size="2" style="font-size:11.0pt;">Instructions explaining how to vote by telephone or via Internet are included in the box below or in your voting instruction form (enclosed herewith).</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">On behalf of your Board of Directors, thank you for your cooperation and continued support.</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-align:justify;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
<tr>
<td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="50%" valign="bottom" style="padding:0in 0in 0in 0in;width:50.0%;">
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Sincerely,</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman"><img width="135" height="59" src="g128551bci002.gif" alt="GRAPHIC"></font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Bennett Rosenthal</font></p>
<p style="margin:0in 0in .0001pt;"><font size="1" face="Times New Roman" style="font-size:2.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Chairman</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<table border="1" cellspacing="0" cellpadding="0" width="100%" style="border:none;border-collapse:collapse;width:100.0%;">
<tr>
<td width="100%" valign="top" style="border:double windowtext 2.25pt;padding:0in 0in 0in 0in;width:100.0%;">
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:11.0pt;font-weight:bold;">INTERNET&nbsp;&amp;   TELEPHONE VOTING</font></u></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 5.05pt .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">Help   your Company avoid the expense of further solicitation by voting today. You   may use one of the following simple methods to vote your shares:</font></p>
<p style="margin:0in 0in .0001pt 60.5pt;text-align:justify;text-indent:-19.45pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 5.05pt .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">1.</font><font size="1" style="font-size:3.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><b><u><font size="2" style="font-size:11.0pt;font-weight:bold;">Vote by Telephone</font></u></b><b><font size="2" style="font-size:11.0pt;font-weight:bold;">.&nbsp; </font></b><font size="2" style="font-size:11.0pt;">Call the toll-free telephone number listed on your   voting instruction form.&nbsp; Have your 12   digit control number (listed on the form) ready and follow the simple   instructions.</font></p>
<p style="margin:0in 0in .0001pt 60.5pt;text-align:justify;text-indent:-19.45pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 5.05pt .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">2.</font><font size="1" style="font-size:3.0pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><b><u><font size="2" style="font-size:11.0pt;font-weight:bold;">Vote by Internet</font></u></b><b><font size="2" style="font-size:11.0pt;font-weight:bold;">.&nbsp; </font></b><font size="2" style="font-size:11.0pt;">Go to www.proxyvote.com.&nbsp; Have your 12 digit control number (listed   on the form) ready and follow the simple instructions.</font></p>
<p style="margin:0in 5.05pt .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>
<p style="margin:0in 5.05pt .0001pt .75in;text-align:justify;text-indent:-.25in;"><font size="1" face="Times New Roman" style="font-size:8.0pt;">&nbsp;</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
