Company: APO
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119946
Chunk: 126

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-14
Form: 424B3
Chunk 126
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1x  |
| KKR & Co. Inc.                    |     |                        | 31.5x |     |                        | 15.7x |
| TPG Inc.                          |     |                        | 27.2x |     |                        | 13.6x |
|                                   |     | FRE Multiple for FY25E |       |     | PRE Multiple for FY25E |       |
| Bridge                            |     |                        | 12.0x |     |                        | 6.0x  |

| 1 | Brookfield Asset Management Limited sum-of-the-parts multiples not presented due to variability in Wall Street 
 consensus estimates on value attributable to performance fees.                                                 |

Based upon the observed FRE Multiples and PRE Multiples of the Large Diversified Alts and Lazard’s professional judgment, Lazard selected a reference range of 12.0x – 14.0x for FY25E to value Bridge’s FRE earnings stream and a reference range of 6.0x – 7.0x for FY25E to value Bridge’s PRE earnings stream. The value of the BSI was calculated by applying a 0.9x – 1.0x multiple to the September 30, 2024 net asset value 76

(“NAV”) per share. The selected share price to NAV (“P/NAV”) multiple ranges were informed by the perceived relative illiquidity of these investment positions and the discounts typically ascribed to publicly listed investment holding companies and closed-endfunds as well as Lazard’s professional judgment. The analysis further valued Bridge’s outstanding debt, net of cash and cash equivalents (“Net Debt”) on a per share basis as of September 30, 2024 at 1.00x NAV. The calculations for the sum-of-the-partsmultiples based analysis were performed and based on the December Baseline Projections adjusted to reflect the SBC Tax Benefit (as outlined below), publicly available financial data (including Wall Street equity analysts’ research estimates, FactSet Research Systems Inc. and S&P Global, Inc.) and the closing stock prices of Bridge and the Large Diversified Alts as of February 20, 2025.

|                     |     | December Baseline Projections |      |     | Including SBC Tax Benefit |      |
|:--------------------|:----|:------------------------------|-----:|:----|:--------------------------|-----:|
| FY25E FRE Per Share |     | $