Apollo Global Management Investor Day Presentation Deck

Athene's Retail Products Offer Downside Protected Returns in a Tax-Efficient Format PRODUCT Traditional Fixed Annuity (MYGA) Fixed Indexed Annuity (FIA) Registered Index-Linked Annuity (RILA) % OF RETAIL INFLOWS ¹ 1 7% 87% 6% 1. Percentage of Athene Retail Inflows for the year ended December 31, 2021. APOLLO RETIREMENT SERVICES BUSINESS UPDATE 2022 DURATION 3-7 years 5-15 years 6-8 years ILLUSTRATIVE RETURN PROFILE BUY AN AT THE MONEY CALL OPTION f BUY A BELOW THE MONEY CALL OPTION Like a Fixed Rate Bond or Bank CD + + SELL A CALL OPTION WITH A HIGHER STRIKE = SELL A CALL OPTION WITH A HIGHER STRIKE ر "CALL SPREAD" WITH DOWNSIDE PROTECTION "CALL SPREAD" WITH LIMITED DOWNSIDE RISK KEY CHARACTERISTICS Stable retirement savings vehicle that offers principal protection Guaranteed rate of return No downside risk to the policy holder Upside is based on a percentage of market index performance, provided to policy holders synthetically by purchasing call spreads Assets are invested in a fixed income portfolio, not the underlying index No downside risk to the policy holder Index or market risk is fully hedged by Athene Increased upside, based on a percentage of market index performance, provided to policy holders synthetically by purchasing call spreads Assets are invested in a fixed income portfolio, not the underlying index Downside risk to the policy holder is limited Index or market risk is fully hedged by Athene 43

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