Company: APO
Filing Date: 2025-08-08
Form Type: 424B5
Source: 0001193125-25-177032
Chunk: 27

Company: Apollo Global Management, Inc.
Filing Date: 2025-08-08
Form: 424B5
Chunk 27
---
 direct and indirect subsidiaries will not be required to guarantee the notes.

Other than the Initial Guarantors, the other subsidiaries of the Issuer (including Athene Holding Ltd.) will not guarantee or have any
obligation in respect of the notes at the time of issuance. The Issuer and the Initial

S-21

Guarantors are holding companies that hold equity interests in operating entities. The Issuer and the Initial Guarantors depend upon funds from their respective subsidiaries to meet their obligations in respect of the notes or the Note Guarantees, as applicable. Accordingly, the credit character of the notes is that of debt issued by a holding company. Each Note Guarantee will be a general unsecured obligation of the relevant Guarantor and will be limited to the maximum amount that would not render the Guarantor’s obligations subject to avoidance under applicable fraudulent conveyance provisions of the United States Bankruptcy Code or any comparable provision of state law. By virtue of this limitation, a Guarantor’s obligation under its Note Guarantee could be significantly less than amounts payable with respect to the notes or a Guarantor may have effectively no obligation under its Note Guarantee. The Note Guarantee of 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;                                                            |

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

| • |     | upon full and final payment of the notes. |

“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. “