Apollo Global Management Mergers and Acquisitions Presentation Deck
Merger: What Is Changing?
Aligned Growth
Apollo / Athene
Contract Stability
3rd Party Float¹
Market Cap¹
Governance
Dividend
Index Eligibility
Before
Two separate growth businesses
Perceived uncertainty
$9bn APO, $6bn ATH
$20bn APO, $7bn ATH
APO insider control
Unpredictable Apollo dividend
$0 Athene dividend
Apollo not S&P 500 eligible
↑
Pro Forma Apollo
Accelerated growth, driven by
front end + capital
Contract certainty
Greater liquidity: $15bn public float
Source: CapitalIQ
1 As of 3/5/2021, the last day of unaffected trading. Standalone market caps exclude cross ownership. Pro forma market cap includes premium on Athene shares.
APOLLO
$29bn
Best-in-class shareholder
representation
Predictable dividend that
grows with the business
S&P 500 eligible
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