Apollo Global Management Investor Day Presentation Deck

Components of FRE Growth - Base Case AUM = ~2x Growth Fee Related Revenues = ~2.25x Growth Comp Ratio = 30% today to ~25% by 2026 Non-Comp Ratio = 16% today to ~13% by 2026 FRE Margin = 60% + by 2026 FRE= Mid to High Teens CAGR $1.90 PRE-TAX FRE PER SHARE¹ 2Q21 LTM 1. Pro-forma for post merger share count of approximately 600mm shares, including anticipated equity awards related to compensation reset. 2. Reflects anticipated pro-forma allocation of expenses across segments. APOLLO INVESTOR DAY 2021 18% CAGR ~$2.35 2022E² ASSET MGMT $4.50-4.75 2026E² 209

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