Company: APO
Filing Date: 2025-11-06
Form Type: 424B5
Source: 0001193125-25-269713
Chunk: 12

Company: Apollo Global Management, Inc.
Filing Date: 2025-11-06
Form: 424B5
Chunk 12
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 decisions such as the following: (i) decisions related to the allocation of resources such as staffing decisions 
 including hiring and locations for deployment of the new hires; (ii) decisions related to capital deployment such as providing capital to facilitate growth for the business and/or to facilitate expansion into new businesses;                   
 (iii) decisions related to expenses, such as determining annual discretionary bonuses and equity-based compensation awards to its employees. With respect to compensation, management seeks to align the interests of certain professionals and    
 selected other individuals with those of the investors in the funds and those of Apollo’s stockholders by providing such individuals a profit sharing interest in the performance fees earned in relation to the funds. To achieve that objective, 
 a certain amount of compensation is based on Apollo’s performance and growth for the year; and (iv) decisions related to the amount of earnings available for dividends to our common stockholders and holders of equity-based awards that         
 participate in dividends.                                                                                                                                                                                                                          |

Segment Income is a measure of profitability and has certain limitations in that it does not take into account certain items included under U.S. GAAP. Segment Income is the sum of (i) Fee Related Earnings, (ii) Spread Related Earnings and (iii) Principal Investing Income. Segment Income excludes the effects of the consolidation of any of the related funds, interest and other financing costs related to AGM not attributable to any specific segment, taxes and related payables, transaction-related charges and other non-operatingexpenses. Transaction-related charges includes equity-based compensation charges, the amortization of intangible assets, contingent consideration, and certain other charges associated with acquisitions, and restructuring charges. Non-operatingexpenses includes certain charitable contributions and other non-operatingexpenses. In addition, Segment Income excludes non-cashrevenue and expense related to equity awards granted by unconsolidated related parties to employees of the Company, compensation and administrative related expense reimbursements, as well as the assets, liabilities and operating results of the funds and variable interest entities that are included in our financial statements. Segment Income may not be comparable to similarly titled measures used by other companies and is not a measure of performance calculated in accordance with U.S. GAAP. We use Segment Income as a measure of operating performance, not as a measure of liquidity. Segment Income should not be considered in isolation or as a substitute for net income or other income data prepared in accordance with U.S. GAAP. The use of Segment Income without consideration of related U.S. GAAP measures is not adequate due to the adjustments described above