Company: APO
Filing Date: 2025-11-06
Form Type: 424B5
Source: 0001193125-25-269713
Chunk: 57

Company: Apollo Global Management, Inc.
Filing Date: 2025-11-06
Form: 424B5
Chunk 57
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 will not cause a debt instrument to be treated as a contingent payment debt instrument if such contingencies, as of the date of issuance, are remote or incidental. We intend to take the position that the foregoing contingencies
are “remote” or “incidental” with respect to each series, and, accordingly, we do not intend to treat either series of notes as contingent payment debt instruments. Our position that such contingencies are remote or
incidental is binding on you, unless you disclose your contrary position in the manner required by applicable U.S. Treasury regulations. Our position is not, however, binding on the IRS, and if the IRS were to successfully challenge this position,
you might be required to accrue ordinary interest income on the notes at a rate in excess of the stated interest rate, and to treat as ordinary interest income (rather than capital gain) any gain realized on the taxable disposition of the notes. The
remainder of this discussion assumes that neither series of notes will be treated as contingent payment debt instruments. You are urged to consult your own tax advisors regarding the possible application of the contingent payment debt instrument
rules to the notes.

Certain U.S. Federal Income Tax Considerations for U.S. Holders

The following is a summary of certain U.S. federal income tax consequences that will apply if you are a U.S. holder.

Pre-Issuance Accrued Interest. A portion of the purchase price paid for a new 2035 note will be attributable to stated interest accrued prior to the issuance of the new 2035 notes (“pre-issuance accrued interest”). The portion of the first stated interest payment attributable to pre-issuance accrued interest may be treated as a nontaxable return of a portion of the purchase price of a new 2035 note rather than as an amount payable on the new 2035 notes, in which case, such amount should be excluded from income and should reduce a U.S. holder’s initial tax basis in the new 2035 note. Holders should consult their own tax advisors regarding the tax treatment of pre-issuance accrued interest.

Stated Interest. Generally,
subject to the following paragraph, any stated interest payments on the notes to you will be taxable as ordinary interest income at the time they accrue or are received, in accordance with your regular method of tax accounting for U.S. federal
income tax purposes.

S-40

Original Issue Discount. A series of notes will be considered issued with original issue discount (“OID”) if