Company: APO
Filing Date: 2025-04-11
Form Type: S-4
Source: 0001193125-25-079161
Chunk: 442

Company: Apollo Global Management, Inc.
Filing Date: 2025-04-11
Form: S-4
Chunk 442
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 the Company to engage in the Transaction.

In rendering our opinion, we have assumed, with the consent of the Special Committee, that the Transaction will be consummated on the terms
described in the Agreement, without any waiver or modification of any material terms or conditions. We also have assumed, with the consent of the Special Committee, that obtaining the necessary governmental, regulatory or third party approvals and
consents for the Transaction will not have an adverse effect on the Companyor the Transaction. We further have assumed, with the consent of the Special Committee,that the Corporate Merger will qualify for U.S. federal income tax
purposes as a reorganization within the meaning of Section 368(a) of the Internal Revenue Code of 1986, as amended. We do not express any opinion as to any tax or other consequences that might result from the Transaction, nor does our opinion
address any legal, tax, regulatory or accounting matters, as to which we understand that the Company obtained such advice as it deemed necessary from qualified professionals. We express no view or opinion as to any terms or other aspects (other than
the Class A Corporate Merger Considerationto the extent expressly specified herein) of the Transaction, including, without limitation, the form or structure of the Transaction, the Tax Receivable Agreement, voting agreements, key
individual agreements, restrictive covenant and lock-up agreements, or any other agreements or arrangements entered into in connection with, or contemplated by, the Transaction. In addition, we express no view
or opinion as to the fairness of the amount or nature of, or any other aspects relating to, the compensation to any officers, directors or employees of any parties to the Transaction, or class of such persons, relative to the Class A Corporate
Merger Consideration or otherwise.

Lazard Frères & Co. LLC (“Lazard”) is acting as financial advisor to the
Special Committee in connection with the Transaction and will receive a fee for such services, a portion of which is payable upon the rendering of this opinion, a substantial portion of which is contingent upon the closing of the Transaction and a
portion of

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Special Committee of The Board of Directors Bridge Investment Group Holdings Inc. February 23, 2025 Page 4 which is discretionary and contingent upon the closing of the Transaction. We in the past have provided, currently are providing and in the future may provide certain investment banking services to Buyer and/or certain of its affiliates, for which we have received and may receive compensation, including, currently