Apollo Global Management Investor Day Presentation Deck

● ● Athene's Advantages Drive Value Creation + Better Asset Performance Through Apollo, Athene generates superior risk- adjusted returns and does not take on excessive risk to earn yield Apollo provides access to unique asset opportunities and direct origination flow • Scalable platform with the ability to onboard incremental business at a low marginal cost ● Lower Cost Structure ● Disciplined liability management Disciplined pricing across organic growth channels = Superior Return Profile Peers represent a weighted average of AEL, AIG, AFG, FGL, LNC, MET, PRU, and PFG for the 5 years 2016 to 2020. Source: SNL Financial, Company Filings. Footnote explanations may be found in presentation endnotes. APOLLO INVESTOR DAY 2021 Better Asset Performance¹+ +30bps 4.2% Industry 4.5% Athene Lower Cost Structure² -30bps 0.7% 0.4% Industry Athene || Superior Return³ Low Double- Digits Mid Teens Industry Athene 155

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