Company: APO
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119946
Chunk: 442

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-14
Form: 424B3
Chunk 442
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 the Exchange Ratio in the proposed Transaction and we express no opinion as to the fairness of any consideration to be paid in connection with the Transaction to the holders of any other class of securities,
creditors or other constituencies of the Company or as to the underlying decision by the Company to engage in the Transaction. Furthermore, we express no opinion with respect to the amount or nature of any compensation to any officers, directors, or
employees of any party to the Transaction, or any class of such persons relative to the Exchange Ratio applicable to the holders of the Class A Company Common Stock in the Transaction or with respect to the fairness of any such compensation.We are expressing no opinion herein as to the price at which the Class A Company Common Stock or the Acquiror Common Stock will trade at any future time.

We have acted as financial advisor to the Company with respect to the proposed Transaction and will receive a fee from the Company for our services, a
substantial portion of which will become payable only if the proposed Transaction is consummated. In addition, the Company has agreed to indemnify us for certain liabilities arising out of our engagement. During the two years preceding the date of
this letter, we and our affiliates have had commercial or investment banking relationships with the Company, for which we and such affiliates have received customary compensation. Such services during such period have included rendering certain
investment banking services in connection with global securitized products. During the two years preceding the date of this letter, we and our affiliates have had commercial or investment banking relationships with the Acquiror, for which we and
such affiliates have received customary compensation. Such services during such period have included acting as joint lead arranger and joint bookrunner on a credit facility of a subsidiary of the Acquiror in October 2023, acting as joint lead
bookrunner on an offering of debt securities of the Acquiror in October 2024, and rendering certain investment banking services in connection with global securitized products. In addition, during the two years preceding the date of this letter, we
and our affiliates have had commercial or investment banking relationships with portfolio companies of the Acquiror for which we and such affiliates have received customary compensation. Such services during such period have included providing debt
syndication, equity underwriting, debt underwriting and financial advisory services to portfolio companies of the Acquiror. In addition, our commercial banking affiliate is an agent bank and a lender under outstanding credit facilities of the

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Acquiror, for which it