Apollo Global Management, Inc.

Our Businesses Retirement Services for further details regarding Athene’s retirement services business. As of December 31, 2025, Apollo managed or advised $392.2 billion of AUM, of which $386.5 billion was Fee-Generating AUM, in accounts owned by or related to Athene ( Athene Accounts ). Athora Apollo’s asset management business, through its consolidated subsidiary, ISGI, provides investment advisory services to certain portfolio companies of Apollo funds and Athora, a strategic liabilities platform that acquires or reinsures blocks of insurance business in the German and broader European life insurance market (collectively, the Athora Accounts ). As of December 31, 2025, Apollo, through its subsidiaries, managed or advised $57.2 billion of AUM and $55.2 billion of Fee-Generating AUM in Athora Accounts. See note 18 to our consolidated financial statements for details regarding the fee arrangements between the Company and Athora. Athora Non-Sub-Advised Assets This category includes the Athora assets that Apollo manages but are not sub-advised by Apollo nor invested in Apollo funds or investment vehicles. We refer to these assets collectively as Athora Non-Sub-Advised Assets. Our AUM within the Athora Non-Sub-Advised category totaled $34.7 billion as of December 31, 2025, of which $32.3 billion was Fee-Generating AUM. Origination Apollo’s integrated approach to origination is designed to provide scaled, long-term capital across market cycles.