Apollo Global Management
overview changes in compensation structure as previously communicated has reset its compensation structure in conjunction with the closing of the merger to create better alignment with shareholders and employees expects performance fees to encompass a greater portion of investment professionals compensation to strong investment performance for limited partners as well as shareholders additionally replaced one of its legacy profit share programs for its broad employee base with equity compensation and granted its partners long term stock awards to increase employee alignment with stock performance believes the combination of these compensation changes will result in a lower fee related earnings compensation expense trajectory over the next five years than under the previous construct specifically compensation ratio is expected to reach approximately by versus approximately today compensation ratio is expected to reach approximately versus approximately today given that this compensation structure was not effective for the historical periods included in this presentation and the historical amounts of compensation expense cannot be modified certain quarterly periods presented may show compensation expense ratios outside the ranges noted above with respect to this compensation reset issued the above mentioned long term stock awards during the fourth quarter of and as a result distributable earnings shares outstanding as of was approximately million shares updates to expense allocations additionally in conjunction with the new business segments allocated certain compensation and non compensation expenses to principal investing from asset management the allocation of expense represents costs associated with corporate activities that support the consolidated business of inclusive of these expense allocations are reflected in the historical periods presented within today today | Apollo Global Management
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Deck date
January 2022
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3 of 20
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