Apollo Global Management Mergers and Acquisitions Presentation Deck

Alignment from Merger: Well Positioned to Accelerate Growth ● Two Separate Public Companies Aligned but not identical objectives APOLLO Strategic Partnership APOLLO ATHENE Fiduciaries to separate shareholder constituencies Meaningful time expended to navigate possible conflicts of interest Employee incentives heavily tied to one franchise or the other ● ● ● One Company, Fully-Aligned Model Aligned with shared objectives APOLLO ATHENE Faster speed-to-market for new products Profitable growth for single, aligned shareholder base Focus all effort on executing aligned strategy Employee incentives aligned 18

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