Apollo Global Management, Inc. is a private equity firm specializing in investments in credit, private equity and real estate markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions. The firm provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients. It also manages real estate funds and private equity funds for its clients. The firm invests in the fixed income and alternative investment markets across the globe. Its fixed income investments include income-oriented senior loans, bonds, collateralized loan obligations, structured credit, opportunistic credit, non-performing loans, distressed debt, mezzanine debt, and value oriented fixed income securities. The firm seeks to invest in chemicals, commodities, consumer and retail, oil and gas, metals, mining, agriculture, commodities, distribution and transportation, financial and business services, manufacturing and industrial, media distribution, cable, entertainment and leisure, telecom, technology, natural resources, energy, packaging and materials, and satellite and wireless industries. It seeks to invest in companies based in across Africa, North America with a focus on United States, and Europe. The firm also makes investments outside North America, primarily in Western Europe and Asia. It employs a combination of contrarian, value, and distressed strategies to make its investments. The firm seeks to make investments in the range of $10 million and $1500 million. The firm seeks to invest in companies with Enterprise value between $750 million to $2500 million. The firm conducts an in-house research to create its investment portfolio. It seeks to acquire minority and majority positions in its portfolio companies. Apollo Global Management, Inc. was founded in 1990 and is headquartered in New York, New York with additional offices in North America, Asia and Europe.

Apollo Global Management, Inc.

Management Fees

Management Fees %Chg

Management Fees Common Size

Advisory and Transaction Fees, Net

Advisory and Transaction Fees, Net %Chg

Advisory and Transaction Fees, Net Common Size

Performance Allocations

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Principal Investment Income

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Principal Investment Income Common Size

Total Investment Income

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Investment Income

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Incentive Fees

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Total Asset Management Revenues

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Premiums

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Product Charges

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Net Investment Income

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Net Investment Income Common Size

Investment Related Gains

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Revenues of Consolidated Variable Interest Entities

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Other Revenues

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Total Retirement Services Revenues

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Total Revenues

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Salary, Bonus and Benefits

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Equity-Based Compensation

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Compensation and Benefits

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General, Administrative and Other

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Occupancy

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Placement Fees

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Depreciation and Amortization

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Interest Sensitive Contract Benefits

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Future Policy and Other Policy Benefits

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Cost of Sales

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Gross Profit

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Selling, General & Administrative Expenses

Selling, General & Administrative Expenses %Chg

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Policy and Other Operating Expenses

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Depreciation & Amortization Expenses

Revenue

EBIT

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CapEx

Assets

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Adjusted Net Income

Net Revenue

Net Income

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Adjusted Funds From Operations

Income Statement	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Transaction-Based Revenues	1,661	1,462	1,409	1,243	1,232	706
Management Fees
Advisory and Transaction Fees, Net
Incentive Fees
Incentive Fees
Performance Allocations
Net Interest Income	9,609	8,963	8,060	6,962	6,150	8,433.9
Investment Income
Net Investment Income
Principal Investment Income
Other Revenues	1,092	2,631	3,589	5,436	11,621	51
Premiums
Product Charges
Investment Related Gains
Revenues of Consolidated Variable Interest Entities
Other Revenues
Total Revenues	12,362	13,056	13,058	13,641	19,003	9,190.8
Total Revenues %Chg	-5.3%	-4.3%	-31.3%	48.4%	969.3%	304.2%
Total Revenues
Total Revenues %Chg
Cost of Sales	1,347	1,337	1,271	1,536	1,186	900
Compensation and Benefits
Salary, Bonus and Benefits
Equity-Based Compensation
Profit Sharing Expense
Compensation and Benefits
Gross Profit	11,015	11,719	11,787	12,105	17,817	8,290.8
Gross Profit Margin	89.1%	89.8%	90.3%	88.7%	93.8%	90.2%
Selling, General & Administrative Expenses	1,770	1,816	1,490	1,397	1,312	1,762.9
General, Administrative and Other
Policy and Other Operating Expenses
General, Administrative and Other
Professional Fees
Occupancy
Placement Fees
Depreciation & Amortization Expenses	559	507	434	397	291	444
Amortization of Deferred Acquisition Costs, Deferred Sales Inducements and Value of Business Acquired
Depreciation and Amortization
Other Operating Expenses	6,264	5,725	6,176	7,513	13,554	11,346
Interest Sensitive Contract Benefits
Future Policy and Other Policy Benefits
Market Risk Benefits Remeasurement Losses
Operating Profit	2,422	3,671	3,687	2,798	2,660	-5,262.1
Operating Margin	19.6%	28.1%	28.2%	20.5%	14%	-57.3%
Interest and Investment Income	—	—	—	—	—	-8.6
Interest Income
Interest Expense	-120	-122	-104	-83	-62	-59.6
Interest Expense
Interest Expense
Non-Operating Income	-276	261	42	129	144	-523.4
Net Gains from Investment Activities
Net Gains from Investment Activities of Consolidated Variable Interest Entities
Other Income, Net
Other Income - Asset Management
Net Gains from Investment Activities
Income from Equity Method Investments
Total Non-Operating Income	-396	139	-62	46	82	-591.6
Income Before Provision for Income Taxes	2,026	3,810	3,625	2,844	2,742	-5,853.6
Income Before Income Tax Benefit
Provision for Income Taxes	246	379	683	-1,377	454	-880.8
Income Tax Benefit
Consolidated Net Income	1,780	3,431	2,942	4,221	2,288	-4,972.8
Net Income
Net Income Attributable to Minority Interests and Other	-708	-1,134	-662	-783	-679	2,346.8
Net Loss Attributable to Non-Controlling Interests
Net Income Attributable to Preferred Dividends	49	48	49	46	—	-18.3
Preferred Stock Dividends
Series a Preferred Stock Dividends
Series B Preferred Stock Dividends
Net Income Attributable to Series B Preferred Shareholders
Net Income Attributable to Common Shareholders	1,023	2,249	2,231	3,392	1,609	-2,607.8
Net Income Attributable to Apollo Global Management, Inc. Common Stockholders
Basic EPS	1.7	3.7	3.7	5.7	2.7	-646,763.4
Diluted EPS	1.7	3.7	3.6	5.6	2.7	-646,763.4
Basic Weighted Average Shares Outstanding	587	584.4	587.7	581.2	581.5	1,169.4
Total Shares Outstanding	572	565.7	569.5	567.8	566.8	570.3
Diluted Weighted Average Shares Outstanding	591.7	602.9	605.1	596.2	581.5	1,169.4
EBITDA	3,062	4,248	4,185	3,256	3,005	-4,754
Effective Tax Rate	12.1%	9.9%	18.8%	-48.4%	16.6%	15%