Apollo Global Management Investor Day Presentation Deck

Athene's Alts Portfolio Performance Has Been Strong and Durable NORMALIZING ALTS TO 11% IS APPROPRIATE AND CONSERVATIVE HISTORICAL RETURNS HAVE BEEN LESS VOLATILE THAN THE EQUITY MARKET VS. 11% NORMALIZED RETURN 13.1% TRAILING 3-YR AVG 2019 - 2021 11.3% TRAILING 5-YR AVG 2017 - 2021 11.9% LONG-TERM AVG 2013 - 2021 16.6% LATEST QUARTER 1Q'22 Historical Alt Investment Performance ¹ ATHENE ALTS S&P 500 Reference: Preqin PE Index² 22% 8% 13% Standard Deviation -56% 52% 9% 34% 17% 34% 34% 29% 24% 19% 20% 16% 15% 14% 10% 9912% 9% 11% °9%95% 10% 9% 5% 6% 4% -3% -7% -5% amadead, dondguddhindi endy dand 80% -80% 47% Sharpe Ratio 1.1 0.4 1.1 39% 23% 33% 43% 17% 16% 16% 1% 1. Alternatives performance is presented net of investment management fees and quarterly results are annualized. 2. Preqin PE Index presented as of September 30, 2021 3. Prior to 1Q'22 the alternatives portfolio performance lag was more pronounced ~50/50 vs today only ~10% of the portfolio is reported on a lag. APOLLO RETIREMENT SERVICES BUSINESS UPDATE 2022 17% -20% 10'17 2017 30'17 4017 10'18 20'18 30'18 4018 10'19 2019 3019 4019 1020 2020 30'20 4020 10'21 20'21 30'21 40'21 10'22 ■ATHENE ALTS RETURN (ANNUALIZED) 1,3 S&P 500 RETURN (ANNUALIZED) 35

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