Apollo Global Management Investor Day Presentation Deck

Why Does Hybrid Exist? Inefficiencies in the markets or capital formation often driven by long-term structural change Apollo's Hybrid strategies range from "moments in time" to flagship products 5 Based on the views and opinions of Apollo analysts, which are subject to change at any time without notice. APOLLO INVESTOR DAY 2021 MARKETS Technicals and Liquidity "Tourists" Speed and Complexity Race to Scale Event-Driven CAPITAL Banks Exiting Since GFC Legacy Credit & Private Equity Allocation Silos Demand for Safe Long Duration Alpha Drawdown Structures APOLLO'S HYBRID CAPITAL SOLVES INEFFICIENCIES 29

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