Investor Presentaiton

Athene Has a Well-Constructed Commercial Mortgage Loan Portfolio Key Portfolio Attributes 82% 35% 1.8x First Mortgage Floating Rate Debt Service Coverage Ratio¹ 55% Weighted 76% CM-1&2 Avg. LTV² 54% 1st mortgage 62% mezzanine Low-leverage senior lending with defensive, high-quality property types. Borrowers are required to purchase interest rate caps as a hedge against rising floating rates >99% CML positions paid current through March 2023 56% LTVs on originations post onset of COVID-19 Healthcare/Lab 4% Other 3 12% 96% grocery-anchored or necessity retail Residential 32% Retail 9% $24 Hotel BILLION 9% Industrial 9% Office 25% Note: Data presented on a net invested assets basis, excluding Athene's non-controlling interest in ACRA. 1. DSCR is calculated based on interest rate cap. 2. LTV figures based on original appraised values at close or most recent appraisal. 3. Other includes Schools, Student Housing, Caravan Parks, Production Studios, Parking Garages, and Self Storage. ATHENE 17

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