Company: APO
Filing Date: 2025-11-06
Form Type: 424B5
Source: 0001193125-25-269713
Chunk: 26

Company: Apollo Global Management, Inc.
Filing Date: 2025-11-06
Form: 424B5
Chunk 26
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 interest on the new 2035 notes.

We intend to use
the net proceeds from the offering of the notes for general corporate purposes.

S-21

CAPITALIZATION The following table sets forth our capitalization as of September 30, 2025:

| (i) | on an estimated actual basis; and |

| (ii) | on an as-adjusted basis to give effect to this offering. |

You should read this table in conjunction with the section titled “Use of Proceeds” included in this prospectus supplement, and with the financial statements and the related notes and reconciliations incorporated by reference in this prospectus supplement.

|                                                                                               |     | As of              
 September 30, 2025 |        |   |     |          |        |   |
|:----------------------------------------------------------------------------------------------|:----|:-------------------|-------:|:--|:----|:---------|-------:|:--|
|                                                                                               |     | Estimated          
 Actual             |        |   |     | As       
 Adjusted |        |   |
|                                                                                               |     | -$ in millions     |        |   |     |          |        |   |
| Liabilities                                                                                   |     |                    |        |   |     |          |        |   |
| Total indebtedness of Athene Holding Ltd. or its subsidiaries(1)                              |     | $                  |  7,856 |   |     | $        |  7,856 |   |
| Senior indebtedness of Apollo Global Management, Inc. or its subsidiaries(2)                  |     |                    |  3,697 |   |     |          |  3,697 |   |
| 2031 notes offered hereby(3)                                                                  |     |                    |      — |   |     |          |    397 |   |
| New 2035 notes offered hereby(4)                                                              |     |                    |      — |   |     |          |    345 |   |
| Junior Subordinated Notes of Apollo Global Management, Inc.(5)                                |     |                    |  1,078 |   |     |          |  1,078 |   |
| Total indebtedness of Apollo Global Management, Inc. and Apollo Asset Management, Inc. or its 
 subsidiaries                                                                                  |     |                    |  4,775 |   |     |          |  5,517 |   |
| Other debt(6)                                                                                 |     |                    |