Apollo Global Management Investor Day Presentation Deck

FinTech Challengers Trade at Significant Premiums to Incumbents 888 SoFi $13B FinTech CHALLENGERS Market Cap Price / Earnings¹ Financial Services INCUMBENTS Market Cap Price / Earnings¹ PayPal Robinhood Upstart $310B $36B $24B 45x DISCOVER $38B 10x 150x+ charles SCHWAB $144B 22x 150x+ sa sallie (200x+ maeⓇ $5B 7x green dot $3B 9x 18x citi $146B Source: S&P Capital IQ. Market data as of October 7, 2021. 1. Price / Earnings multiples are based on consensus normalized EPS estimates for 2022E. Robinhood, Upstart, and SoFi multiples are illustrative due to negative or very low consensus normalized EPS estimates for 2022E. APOLLO INVESTOR DAY 2021 0 OpenLending $4B 30x ally $19B 8x 189

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