Company: APO
Filing Date: 2025-04-11
Form Type: S-4
Source: 0001193125-25-079161
Chunk: 325

Company: Apollo Global Management, Inc.
Filing Date: 2025-04-11
Form: S-4
Chunk 325
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 (ii) would, in accordance with its terms, bind or impose obligations on Parent or any of its Affiliates or any vehicle managed, sponsored or controlled by any of the
foregoing (other than any Acquired Company) following the Closing, in each case, other than (x) customary confidentiality agreements or (y) to the extent that any such limitations, restrictions or obligations only bind or impose
obligations on a Portfolio Investment and not on any Acquired Company;

(xix) [reserved];

(xx) with respect to the Acquired Companies, commit to, authorize or enter into any agreement in respect of, any capital
expenditure (or series of commitments to make such capital expenditures), other than (x) capital expenditures in an amount not to exceed $50,000 per month in the aggregate and (y) as required under any Fund Documentation in connection with
such Fund’s Sponsor Commitment;

(xxi) enter into any new line of insurance business or discontinue any line of
insurance business in BIGRM; or

(xxii) enter into any agreement, or otherwise become obligated, to do (or provide
authorization for) any action prohibited under this .

(b) Nothing contained in this Agreement
shall give Parent, directly or indirectly, any right to control or direct the operations of the Acquired Companies prior to the Closing. Prior to the Closing, each of the Company and Parent shall exercise, consistent with the other terms and
conditions of this Agreement, complete control and supervision over their respective businesses.

A-63

(c) Parent agrees that, from the date of this Agreement until the earlier of the Effective
Time or the termination of this Agreement in accordance with , except (i) as required by Applicable Law, (ii) as expressly contemplated by this Agreement or (iii) with the prior written consent of
the Company (which shall not be unreasonably withheld, conditioned or delayed), each of Parent and each Merger Sub shall not:

(i) amend Parent’s or either Merger Subs’ certificate of incorporation, bylaws or operating agreements in a manner
(A) that would be disproportionate and materially adverse to the rights of the holders of Company Common Stock and OpCo Class A Units (after giving effect to the Mergers and who have the right to receive the Corporate Merger Consideration
and LLC Merger Consideration) relative to the other holders of Parent Common Stock or (B) would prevent, materially delay or materially impair the ability of Parent and the Merger Sub