Company: APO
Filing Date: 2025-08-08
Form Type: 424B5
Source: 0001193125-25-177032
Chunk: 28

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-08
Form: 424B5
Chunk 28
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Non-GuarantorEntity” means any Person designated by the Issuer as such in accordance with the indenture. The indenture will provide that the Issuer may designate any Person as a Non-GuarantorEntity if (1) such Person is directly or indirectly wholly-owned by one or more Credit Parties or (2) such Person, together with all then-existing Non-GuarantorEntities designated pursuant to this clause (2) on a combined and consolidated basis and taken as a whole, would not constitute a “significant subsidiary” (as such term is defined in Rule 1-02(w)of Regulation S-Xunder the Securities Act or any successor provision) of the Issuer (the foregoing, the “Non-GuarantorLimitation”). The Issuer may also, from time to time, remove the designation of any Person as a Non-GuarantorEntity and must remove the designation as to one or more Non-GuarantorEntities designated pursuant to clause (2) of the immediately preceding sentence to the extent as of the end of any fiscal quarter such Non-GuarantorEntities exceed the Non-GuarantorLimitation. Any such designation or removal by the Issuer shall be evidenced to the Trustee by promptly filing with the Trustee a certified copy of duly adopted resolution of the Issuer to have been duly adopted by the Issuer’s board of directors giving effect to such designation or removal, and in the case of a designation, a certificate of a financial officer of the Issuer certifying that such designation complied with the foregoing provisions. “Person” means an individual, a corporation, a partnership, a limited liability company, an association, a trust or any other entity, including a government or political subdivision or an agency or instrumentality thereof. Ranking The payment of the principal of, premium, if any, and interest on the notes and the payment of any Note Guarantee will:

| • |     | rank equally in right of payment with all existing and future unsecured and unsubordinated Indebtedness (as 
 defined below), liabilities and other obligations of the Issuer or the relevant Guarantor;                  |

S-22

| • |     | rank senior in right of payment to all existing and future subordinated Indebtedness of the Issuer or the 
 relevant Guarantor;                                                                                       |

| • |     | be effectively subordinated to all existing and future secured Indebtedness of the Issuer or the relevant 
 Guarantor, to the extent of the value of the assets securing such Indebtedness