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

Company: Apollo Global Management, Inc.
Filing Date: 2025-05-12
Form: S-4/A
Chunk 25
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 and, consequently, there can be no assurance that the IRS will not challenge the treatment of the Corporate Merger described above or that a court would not sustain such a challenge. If the Corporate Merger does not qualify as a “reorganization” within the meaning of Section 368(a) of the Code, holders of Bridge common stock could be required to fully recognize gain with respect to the exchange, pursuant to the Corporate Merger, of Bridge common stock for shares of Apollo common stock, as discussed in more detail in the section entitled “ The Mergers—Material U.S. Federal Income Tax Consequences of the Corporate Merger — Tax Consequences if the Corporate Merger Does Not Qualify as a “Reorganization” Described in Section 368(a) of the Code” beginning on page 93. 9

Assuming the Corporate Merger qualifies as a “reorganization,” U.S. holders (as
defined in “The Mergers—Material U.S. Federal Income Tax Consequences of the Corporate Merger”) of Bridge common stock generally are not expected to recognize any gain or loss for U.S. federal income tax purposes on the
exchange of Bridge common stock for Apollo common stock in the Corporate Merger; , that such U.S. holders may recognize gain or loss with respect to cash received in lieu of fractional shares of such Apollo common stock.

All Bridge stockholders should read “The Mergers—Material U.S. Federal Income Tax Consequences of the Corporate Merger”
beginning on page 91 of this proxy statement/prospectus for a more detailed discussion of the material U.S. federal income tax consequences of the Corporate Merger. Tax matters can be complicated and the tax consequences of the Corporate Merger to
any particular holder will depend on that holder’s particular facts and circumstances. Accordingly, you are urged to consult your tax advisor to determine your tax consequences from the Corporate Merger.

Q: What will happen to the Existing Tax Receivable Agreement in connection with the mergers?

As a condition to Apollo’s entry into the merger agreement, Bridge, Bridge LLC and certain beneficiaries party to the Amended and Restated
Tax Receivable Agreement (the “TRA Members”), dated as of January 1, 2022 (the “Existing Tax Receivable Agreement”), entered into a Second Amended and Restated Tax Receivable Agreement with Apollo (the “Second A&R
Tax Receivable Agreement”), which will become effective immediately prior to the effective time of the mergers and provides, among other