Apollo Global Management Investor Day Presentation Deck

Downside Protection is a Hallmark of Hybrid ● ● ● ● SENIOR Dislocation Technicals Event-driven Capital structure arbitrage Not taking fundamental credit risk Based on the views and opinions of Apollo Analysts. APOLLO INVESTOR DAY 2021 JUNIOR ● Deep diligence • Highly structured Strong asset or cash flow coverage • High conviction investments • Upside convexity is typical ● ● ● EQUITY-LIKE Deep diligence Heavy influence or control Safe senior capital structure Long-term and/or contractual cash flows • Low correlation 31

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