Apollo Global Management Investor Day Presentation Deck

Athene Generates Significant Capital to Fund Growth ATHENE IS TODAY, AND HAS ALWAYS BEEN, MASSIVELY CAPITAL GENERATIVE ~$1.2B ~$0.8B $4.0 B $2.8B $1.5B Cash Flow From Earnings¹ (~70%-80% of adjusted operating income on average) Annual Capital Release from² normal-course run-off + Excess Equity Capital³ Untapped Debt Capacity³ Available Capital from Sidecar (ADIP/ACRA)³ Note: Data as of June 30, 2021. Footnote explanations may be found in presentation endnotes. APOLLO INVESTOR DAY 2021 Capital Utilization ORGANIC GROWTH $70B of gross inflows (trailing 3Y total)4 SUPPORT RATINGS INORGANIC GROWTH $37B of gross inflows (trailing 3Y total)4 SHARE REPURCHASE UPGRADES A+ A A $1.3B S&P FITCH AM BEST Since Commencement in December 2018 164

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