Apollo Global Management Investor Day Presentation Deck

Athene Originates Low-Cost, Long-Dated Funding SIMPLE RETIREMENT SAVINGS PRODUCTS WITH STRUCTURAL FEATURES THAT INCREASE STICKINESS 1 ~9 Year' Weighted Average Life of Funding 1.82% Cost of Funds on In-Force 81% Of Funding Carries a Withdrawal Penalty or Cannot be Withdrawn くく Spread-Based Conservatively Underwritten Very Limited Tail Risk 30% Non- Surrenderable PERSISTENT & PREDICTABLE LIABILITY PORTFOLIO Other Pension 1%5 Group Annuities 15% Funding Agreements 14% Payout Annuities 4%4 $209 billion Fixed Rate Annuities 18% Fixed Indexed Annuities 48% 51% Withdrawal / Surrender Charge Protected 1. Calculation based on gross reserve liabilities as of March 31, 2022. 2. $2.4bn of Buy-in PGA deals are surrenderable 3. For the three months ended March 31, 2022. 4. Includes Single Premium Immediate Annuities, Supplemental Contracts and Structured Settlements. 5. Other primarily consists of the AmerUs Closed Block liabilities and other life reserves. 6. Gross reserve liabilities includes reserves associated with the ACRA noncontrolling interest as of March 31, 2022. The liability portfolio allocation is based on gross reserve liabilities. APOLLO RETIREMENT SERVICES BUSINESS UPDATE 2022 60

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