Apollo Global Management Investor Day Presentation Deck

Overview of Athene's Asset-Backed Securities (ABS) Portfolio $20 BILLION OF NET INVESTED ASSETS, 11% OF ASSET PORTFOLIO BBB¹1 35% <BBB 7% 93%+ Investment Grade Includes many directly- originated and high-grade alpha assets that typically exhibit differentiated risk-return characteristics AAA/AA/A 58% Diversified by industry, sponsor, and transaction Personal Auto 1% Franchise Loans 1% Student Loans 1% Mortage Service Rights 2% Venture Capital Loans 2% Personal Loans 3% Other 36% Insurance Linked TMT Securities 4% 4% Target overcollateralization from cash flows with additional credit support from pledge of real assets and/or intellectual property Fund Finance 11% ABS by Industry Aircraft 11% Commercial Auto Fleets 10% Credit Tenant / Triple Net Lease 7% Whole Business 7% Target performance- based triggers to trap cash and accelerate pay down in times of credit stress Target pre-defined collateral package in a bankruptcy remote vehicle Note: All data is as of March 31, 2022. Portfolio sizing based on net invested assets. 1. 32% of ABS rated BBB and 3% non-rated. Securities denoted as non-rated by the NRSRO were classified as investment or non-investment grade according to the security's respective NAIC designation. With respect to modeled LBaSS, the NAIC designation methodology differs in significant respects from the NRSRO ratings methodology. APOLLO RETIREMENT SERVICES BUSINESS UPDATE 2022 94

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