Company: APO
Filing Date: 2025-04-11
Form Type: S-4
Source: 0001193125-25-079161
Chunk: 433

Company: Apollo Global Management, Inc.
Filing Date: 2025-04-11
Form: S-4
Chunk 433
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 Member. |

| 2. | Joinder to the Tax Receivable Agreement. Upon the execution of this Joinder by the undersigned and                                                                                                                                                       
 delivery hereof to the Corporation, the undersigned hereby is and hereafter will be a Member under the Tax Receivable Agreement, with all the rights, privileges and responsibilities of a party thereunder. The undersigned hereby agrees that it shall 
 comply with and be fully bound by the terms of the Tax Receivable Agreement as if it had been a signatory thereto as of the date thereof.                                                                                                                |

| 3. | Incorporation by Reference. All terms and conditions of the Tax Receivable Agreement are hereby 
 incorporated by reference in this Joinder as if set forth herein in full.                       |

| 4. | Address. All notices under the Tax Receivable Agreement to the undersigned shall be direct to: |

[Name] [Address] [City, State, Zip Code] Attn: Facsimile: E-mail: [Signature Page Follows this Page]

IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Joinder as of the day and year first above written.

| [NAME OF NEW MEMBER] |
| by                   |
| Name:                |
| Title:               |

| APOLLO GLOBAL MANAGEMENT INC.                                 |
| by                                                            |
| Name:                                                         |
| Title:                                                        |
| Acknowledged and agreed as of the date first set forth above: |

[ Signature Page to Joinder Agreement]

Annex D

OPINION OF J.P. MORGAN SECURITIES LLC

February 23, 2025

The Board
of Directors

Bridge Investment Group Holdings Inc.

111 East
Sego Lily Drive, Suite 400

Salt Lake City, Utah 84070

Members of the Board of Directors:

You have requested our
opinion as to the fairness, from a financial point of view, to the Non-Unitholder Stockholders (as such term is defined in the Agreement), of the Exchange Ratio (as defined below) in the proposed merger of
Aspen Pubco Merger Sub 1, Inc., a Delaware corporation and a wholly-owned, direct subsidiary of Acquiror (“Acquisition Subsidiary”) with and into Bridge Investment Group Holdings Inc., a Delaware corporation (the “Company”), with
the Company surviving such merger as the surviving corporation (the “Corporate Merger”). Pursuant to the Agreement and Plan of Merger (the “Agreement