Company: APO
Filing Date: 2025-05-12
Form Type: S-4/A
Source: 0001193125-25-117912
Chunk: 447

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-12
Form: S-4/A
Chunk 447
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) | Reviewed historical stock prices and trading volumes of the Company Class A Common Stock and Buyer Common 
 Stock; and                                                                                                |

| (viii) | Conducted such other financial studies, analyses and investigations as we deemed appropriate. |

E-2

Special Committee of The Board of Directors

Bridge Investment Group Holdings Inc. February 23, 2025

Page
3

We have assumed and relied upon the accuracy and completeness of the foregoing information,
without independent verification of such information. We have not conducted any independent valuation or appraisal of any of the assets or liabilities (contingent or otherwise) of the Company or Buyer or concerning the solvency or fair value of the
Company or Buyer, and we have not been furnished with any such valuation or appraisal. Management of the Company has advised us that the financial forecasts utilized in our analyses reflect their best currently available estimates and judgments as
to the future financial performance of the Company. Accordingly, the Special Committee has instructed us to use solely such forecasts for purposes of our analyses. With respect to the financial forecasts utilized in our analyses, we have assumed,
with the consent of the Special Committee, that they have been reasonably prepared on bases reflecting the best currently available estimates and judgments as to the future financial performance of the Company. With respect to the publicly available
financial forecasts of Buyer referred to above, we have assumed, with the consent of the Special Committee, that they are a reasonable basis upon which to evaluate the future financial performance ofBuyer, and are appropriate for us to
utilize in our analyses. We assume no responsibility for and express no view as to any such forecasts or the assumptions on which they are based. We also note that we do not believe there are sufficient comparable business combinations for a
precedent transactions analysis to be meaningful for purposes of this opinion.

Further, our opinion is necessarily based on economic,
monetary, market and other conditions as in effect on, and the information made available to us as of, the date hereof. We further note that volatility in the credit, commodities and financial markets, may have an effect on the Company, Buyer or the
Transaction and we are not expressing an opinion as to the effects of such volatility on the Company, Buyer or the Transaction. We assume no responsibility for updating or revising our opinion based on circumstances or events occurring after the
date hereof. We do not express any opinion as to the prices at which shares of Company Class A Common Stock or Buyer Common Stock may trade at any time subsequent to the announcement