Apollo Reports Preliminary Q1 Investment Results Ahead of Earnings Release
New York, NY – April 2, 2025 – Apollo Global Management, Inc. (NYSE: APO) has released preliminary estimates for its alternative net investment income for Q1 2025, ahead of its scheduled earnings report on May 2, 2025.

Apollo expects approximately $290 million (pre-tax) in alternative net investment income for the quarter ended March 31, 2025, reflecting a 9% annualized return. Subsidiary Athene Holding Ltd. saw estimated annualized returns of 10% from pooled investment vehicles and 6% from other alternative assets.

The figures are unaudited and subject to change pending final financial review. The company cautioned investors against placing undue reliance on these preliminary results.

The announcement was disclosed under Items 2.02 and 7.01 of a Form 8-K filed with the SEC and is not considered “filed” under the Exchange Act.

Apollo (NYSE: APO) plans to release financial results for the first quarter 2025 on Friday, May 2, 2025, before the opening of trading on the New York Stock Exchange. Management will review Apollo’s financial results at 8:30 am ET via public webcast available on Apollo’s Investor Relations website at ir.apollo.com. A replay will be available one hour after the event.

Apollo has announced that its funds will acquire a majority stake in OEG Energy Group, a provider of offshore energy solutions, from Oaktree Capital Management and other investors. The deal values OEG at over $1 billion, with Oaktree retaining a minority stake.

OEG operates a global fleet of 75,000+ cargo carrying units and provides services to both oil & gas and offshore wind markets. Apollo sees strong growth potential in OEG as energy transition investments expand. The transaction, subject to regulatory approvals, is expected to close in Q2 2025.

Fitch Withdraws Apollo's Mandatory Convertible Preferred Stock Rating; Corrects Error

Apollo (NYSE: APO) today announced that its 2025 Annual Meeting of Stockholders will be held virtually on June 6, 2025, at 9:30 am ET. The record date for the meeting is April 14, 2025. Information on the virtual meeting will be included in the 2025 proxy statement.

**Apollo to Acquire Bridge Investment Group in $1.5 Billion All-Stock Deal**

Apollo Global Management (NYSE: APO) has announced its acquisition of Bridge Investment Group Holdings Inc. (NYSE: BRDG) in an all-stock transaction valued at approximately $1.5 billion. This move expands Apollo’s real estate equity platform, strengthening its origination capabilities in both real estate equity and credit.

Bridge, which manages around $50 billion in assets, specializes in residential and industrial real estate. Following the merger, Bridge will operate as a standalone platform within Apollo’s asset management division while retaining its leadership team and brand identity. Bridge’s Executive Chairman, Bob Morse, will join Apollo as a partner and lead the firm’s real estate equity franchise.

The transaction, unanimously approved by Bridge’s independent directors, is expected to close in Q3 2025, pending regulatory approvals and stockholder consent. Bridge’s shares will be delisted from the New York Stock Exchange upon completion, making it a privately held entity.

Apollo anticipates the acquisition will be immediately accretive to its fee-related earnings and align with its long-term growth strategy in alternative investments.

**Source: Apollo Global Management, "Apollo to Acquire Bridge Investment Group," February 24, 2025.**

Apollo Global Management, Inc. reported its fourth quarter and full-year results for 2024. Highlights include record origination activity exceeding $220 billion, inflows of more than $150 billion, and assets under management surpassing $750 billion. For the fourth quarter, the company declared a cash dividend of $0.4625 per share of its Common Stock, payable on February 28, 2025, to holders of record as of February 18, 2025. Additionally, a cash dividend of $0.8438 per share of its Mandatory Convertible Preferred Stock was declared, with a payment date of April 30, 2025, to holders of record as of April 15, 2025.

Apollo will host a webcast on February 4, 2025, to review its financial results. For more details, visit Apollo's Investor Relations website.

Apollo Global Management announced a new five-year employment agreement for CEO Marc Rowan, maintaining his $100,000 annual salary and granting performance-based compensation with a target value of $10 million per year. The company is also establishing a $200 million donor-advised fund for philanthropy, with Rowan involved in donation recommendations. Additionally, Apollo appointed Brian Leach as an independent director, effective March 1, 2025, increasing the board size to 17 members. Leach will also serve on the Audit and Nominating and Corporate Governance Committees.

Apollo has announced key leadership changes to align with its five-year strategic plan, aiming to enhance its operational capabilities and growth across various sectors. As part of this strategic shift:

Jim Zelter has been appointed as the President of Apollo Global Management, Inc. (AGM), which acts as the holding entity for Apollo’s asset management and retirement services. This newly created role is integral to driving Apollo's significant growth plans. Zelter's responsibilities will include leading strategic initiatives across both Apollo Asset Management, Inc. (AAM) and Athene Holding Ltd. subsidiaries.

John Zito has been appointed as Co-President of AAM, where he will work alongside Scott Kleinman. Together, they will manage all investing activities and the day-to-day operations of the asset management business. Zito will also continue in his role as Head of Credit for Apollo.

These leadership appointments are in line with Apollo's vision of becoming a next-generation financial services firm, as emphasized by CEO Marc Rowan. Rowan's leadership will continue to be a pivotal element of Apollo’s strategy, as the firm is finalizing a five-year extension of his employment agreement.

Jay Clayton, Chair of Apollo Global Management, highlighted these changes as a testament to Apollo’s commitment to strong, shareholder-aligned stewardship, expressing confidence in the senior leadership team's ability to fulfill the firm's ambitious plans.

The announcements were made as part of a broader narrative emphasizing Apollo’s adaptive strategies in response to the evolving financial landscape, focusing on the convergence of public and private markets and the changing roles within financial institutions. These leadership changes are set to position Apollo strongly for future growth and operational efficiency.