Company: APO
Filing Date: 2025-08-08
Form Type: 424B5
Source: 0001193125-25-177032
Chunk: 22

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-08
Form: 424B5
Chunk 22
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 with respect to the Bridge Senior Notes.

S-17

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

| (i) | on an 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          
 June 30, 2025  |        |   |     |             |        |   |
|:----------------------------------------------------------------------------------------------|:----|:---------------|-------:|:--|:----|:------------|-------:|:--|
|                                                                                               |     | Actual         |        |   |     | As Adjusted |        |   |
|                                                                                               |     | -$ in millions |        |   |     |             |        |   |
| Liabilities                                                                                   |     |                |        |   |     |             |        |   |
| Total indebtedness of Athene Holding Ltd. or its subsidiaries(1)                              |     | $              |  7,864 |   |     | $           |  7,864 |   |
| Senior indebtedness of Apollo Global Management, Inc. or its subsidiaries(2)                  |     |                |  3,202 |   |     |             |  3,202 |   |
| Notes offered hereby(3)                                                                       |     |                |      — |   |     |             |    496 |   |
| Junior Subordinated Notes of Apollo Global Management, Inc.(4)                                |     |                |  1,078 |   |     |             |  1,078 |   |
| Total indebtedness of Apollo Global Management, Inc. and Apollo Asset Management, Inc. or its 
 subsidiaries                                                                                  |     |                |  4,280 |   |     |             |  4,776 |   |
| Other debt(5)                                                                                 |     |                |      — |   |     |             |      — |   |
| Total debt                                                                                    |     |                | 12,144 |   |     |             | 12,640 |   |
| Equity                                                                                        |     |                |        |   |     |             |        |   |