Company: APO
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119946
Chunk: 127

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-14
Form: 424B3
Chunk 127
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                             | 0.62 |     | $                         | 0.71 |
| FY25E PRE Per Share |     | $                             | 0.05 |     | $                         | 0.05 |

The following table represents the results of the Sum-of-the-PartsMultiples Based Trading Comparables Analysis:

| FY25E FRE                                              
 FY25E PRE                                              
 9/30/2024 BSI                                          
 9/30/2024 Net Debt                                     |     | Multiple | FRE Multiple 
 PRE Multiple 
 P/NAV        
 P/NAV        |     | Selected Multiple Range 
 Low                     | 12.0x 
  6.0x 
  0.9x 
  1.0x |     | High | 14.0x 
  7.0x 
  1.0x 
  1.0x |
|:-------------------------------------------------------|:----|:---------|:-------------|:----|:------------------------|------:|:----|:-----|------:|
| Implied Value per Share of Bridge Class A Common Stock |     |          |              |     | $                       |  6.94 |     | $    |  8.50 |

As reflected in the table above, the analyses resulted in a range of implied values per share of Bridge Class A common stock of $6.94 – $8.50, as compared to (i) the closing price per share of Bridge Class A common stock of $8.07 as of February 20, 2025 and (ii) the implied merger consideration of $11.50 per share of Bridge Class A common stock. Discounted Cash Flow Analysis Lazard performed a discounted cash flow analysis of Bridge by calculating the estimated net present value (“NPV”) of the projected after-taxlevered free cash flows 2per share based on the December Baseline Projections (such projected cash flows, “FCF”) for the period from September 30, 2024 through fiscal year end 2028E (using mid-yeardiscounting convention), and the estimated NPV of the terminal value of Bridge per share (the “Terminal Value”). Lazard calculated the Terminal Values for Bridge by applying a range of terminal value multiples of 9.5x – 12.0x to the estimated terminal year after-taxdistributable earnings per share consisting of 2029E FRE and 2027E – 202