Wells Fargo & Company Increases Ownership in Ares Dynamic Credit Allocation Fund

Wells Fargo & Company has filed an amendment to its Schedule 13G, reporting an increased ownership of 7.8% in Ares Dynamic Credit Allocation Fund. The filing indicates that Wells Fargo & Company now beneficially owns 1,792,520 common shares of the fund. The shares are held in the ordinary course of business and not for the purpose of influencing the control of the issuer. The filing also includes Wells Fargo's subsidiaries, Wells Fargo Bank, National Association, Wells Fargo Advisors Financial Network, LLC, and Wells Fargo Clearing Services, LLC, in the reporting. The amendment was signed by Ally Pecarro, Designated Signer, on October 21, 2025.