Company: APO
Filing Date: 2025-11-06
Form Type: 424B5
Source: 0001193125-25-269713
Chunk: 33

Company: Apollo Global Management, Inc.
Filing Date: 2025-11-06
Form: 424B5
Chunk 33
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 a Guarantor will terminate:

| • |     | if such Guarantor is sold or disposed of (whether by merger, consolidation or the sale of all or substantially                                                                                                                               
 all of its assets) to an entity that is not required to become a Guarantor, if such sale or disposition is otherwise in compliance with the indenture, including the covenant described in “—Consolidation, Merger, Sale of Assets and Other 
 Transactions;”                                                                                                                                                                                                                               |

| • |     | if such Guarantor is designated a Non-Guarantor Entity in accordance with 
 the indenture;                                                            |

| • |     | as to any series of notes, if the Issuer effects a defeasance or discharge of the notes of such series, as 
 provided in “—Defeasance and Covenant Defeasance;” or                                                      |

| • |     | as to any series of notes, upon full and final payment of the notes of such series. |

S-26

“New Apollo Operating Group Entity” means any subsidiary (other than a directly or indirectly wholly-owned subsidiary) of Apollo Asset Management, Inc. other than (i) a then-existing Guarantor, (ii) any Person in which Apollo Asset Management, Inc. directly or indirectly owns its interest through one or more then-existing Guarantors or (iii) any Person through which Apollo Asset Management, Inc. directly or indirectly owns its interests in one or more then-existing Guarantors. “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