Apollo Global Management Investor Day Presentation Deck
Athene's Earnings Support its Own Continued Growth,
As Well As the Broader Platform
+Supplemental ADIP
Capital ($0.9B)
+Supplemental
Debt/Pref ($0.5B)
or Flat Leverage
SPREAD RELATED
EARNINGS OUTLOOK
$1.25B
for Growth
GROWTH
~$2.0B OF AFTER-TAX EARNINGS³
Organic Growth
$37B Gross Inflows
Inorganic Growth Opportunities
Athene Alts Portfolio
Investment Capacity
$1.5B
~$4.00/share¹ (pre-tax) target in 2022
~$3.30/share² (post-tax) target in 2022
$750M
Dividend to HoldCo
(Part of 5-Year HoldCo Capital Plan)
Low-Teens SRE Growth +
5% FRE Revenue Growth
Inclusive of strong 10'22
alts returns and additional
floater income
SRE + FRE
11% Returns to SRE
Platform Origination Capacity (SRE, FRE)
Seed New Funds (FRE)
Seed New Businesses (FRE)
1. Equates to ~$3.35/share guidance for 2022 as presented at Investor Day plus ~$0.30/share of upside from additional floating rate investment income, assuming the forward interest rate curve as of April 30, 2022, and ~$0.25/share from 1Q'22 alternative returns above our long-term normalized rate of 11%.
2. Assuming 18% tax rate. 3. Implied target assuming 600M share count.
APOLLO RETIREMENT SERVICES BUSINESS UPDATE 2022
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