Company: APO
Filing Date: 2025-08-07
Form Type: 424B5
Source: 0001193125-25-175021
Chunk: 19

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-07
Form: 424B5
Chunk 19
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 that an active trading market for the notes will develop or, if developed, that it will continue. We cannot assure you that the market, if any, for the notes will be free from disruptions that may adversely affect the prices at which you may sell your notes. In addition, subsequent to their initial issuance, the notes may trade at a discount from their initial offering price, depending upon our credit ratings with major credit rating agencies, prevailing interest rates, the market for similar notes, our performance, overall conditions of the economy and financial markets and other factors. If an active trading market does develop, changes in our credit ratings or in the debt markets could adversely affect the market price of the notes. The market price for the notes will depend on many factors, including:

| • |     | our credit ratings with major credit rating agencies; |

| • |     | the prevailing interest rates being paid by other companies similar to us; |

| • |     | our results of operations, financial condition and future prospects; and |

| • |     | the overall condition of the economy and the financial markets. |

The condition of the financial markets and prevailing interest rates have fluctuated in the past and are likely to fluctuate in the future. Fluctuations could have an adverse effect on the market price of the notes. Credit rating agencies also continually review their ratings for debt securities of companies that they follow, including us. Negative changes in our ratings could have an adverse effect on the market price of the notes. The effect of any credit rating downgrade would be to increase our costs of borrowing in the future. Redemption may adversely affect your return on the notes. The Issuer has the right to redeem some or all of the notes prior to maturity, as described under “Description of the Notes—Optional Redemption of the Notes.” The Issuer may redeem the notes at times when prevailing interest rates may be relatively low. Accordingly, you may not be able to reinvest the redemption proceeds in a comparable security at an effective interest rate as high as that of the notes. There will be limited covenants and protections in the indenture. While the indenture and the notes will contain terms intended to provide protection to holders upon the occurrence of certain events involving significant corporate transactions and our creditworthiness, these terms will be limited and may not be sufficient to protect your investment in the notes. For example, there will be no financial covenants in the indenture. S-14

Credit ratings may not reflect all risks. One or more credit rating agencies are expected