Apollo Global Management Investor Day Presentation Deck

Reconciliation of GAAP to Non-GAAP Financial Measures ATHENE RECONCILIATION OF AVERAGE AHL SHAREHOLDERS' EQUITY TO AVERAGE ADJUSTED AHL COMMON SHAREHOLDERS' EQUITY (in millions) Average AHL shareholders' equity Less: Average preferred stock Less: Average AOCI Less: Average accumulated change in fair value of reinsurance assets Average adjusted AHL common shareholders' equity Average adjusted AHL common shareholders' equity by Segment Retirement Services Corporate and Other Average adjusted AHL common shareholders' equity APOLLO INVESTOR DAY 2021 $ $ $ $ 2014 3,648 359 100 3,189 2,262 927 3,189 $ $ 2015 4,959 203 58 4,698 3,333 1,365 $ 4,698 $ $ 2016 6,124 63 41 6,020 4,186 1,834 6,020 $ $ $ $ Annual 2017 8,029 908 112 7,009 4,823 2,186 7,009 $ $ $ $ 2018 8,726 489 43 8,194 6,522 1,672 8,194 2019 $ 10,834 586 905 209 9,134 $ $ $ 7,625 1,509 9,134 2020 14,528 1,633 2,030 575 $ 10,290 $ $ $ 7,491 2,799 10,290 Q2'21 YTD $ 18,651 2,312 3,110 839 $ 12,390 $ 8,690 3,700 $ 12,390

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