Apollo Global Management Investor Day Presentation Deck

Overview of Athene's CLO Portfolio $18 BILLION OF NET INVESTED ASSETS, 10% OF ASSET PORTFOLIO CLO PORTFOLIO BY RATINGS BBB¹ 38% 99%+ Investment Grade <BBB 1% AAA/AA/A 61% Athene's CLO portfolio is 99% investment grade and 99% of the underlying loans are senior secured first lien CLO CREDIT ENHANCEMENT 2 49% 32% 24% 1... 21% 19% 15% 13% A 38% AAA AA MARKET BBB ATHENE 8% 15% BB Given superior credit underwriting and risk selection, the weighted average credit enhancement of Athene's CLOs is higher than the broader market CLO PORTFOLIO BY MANAGER Apollo / Redding Ridge 10% 51% >100 Managers 3% 3% 3% Apollo & Related Entities 7% 7% 4% 4% 4% MidCap 4% Apollo's scale provides Athene access to unique insights, including in the selection of its diversified set of >100 third party managers Note: All data is as of March 31, 2022. Portfolio sizing based on net invested assets. 1. 36% of CLOS rated BBB and 2% 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. 2. Credit Enhancement refers to par subordination or the amount of loss that can be absorbed by the structure before impacting the owned tranche. APOLLO RETIREMENT SERVICES BUSINESS UPDATE 2022 90

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