The purpose of the Apollo Supplemental Partner Program (the “Plan”) is to allow selected partners of Apollo Global Management, Inc. (“AGM”) and its subsidiaries (collectively, the “Company”) to receive supplemental cash compensation based on realized incentive income (each, a “Supplemental Amount”) on terms set forth in this Plan and individual award letters (each an “Award Letter”). Capitalized terms appear in bold when first used and are defined in Section XII.

Awards delivered under the Plan will be denominated in “Participant Percentages” that will entitle Participants to share in a portion of the Company’s incentive income realized from investment vehicles managed or advised by Apollo Asset Management, Inc. or its subsidiaries, as described in more detail below. The Supplemental Amount allocable to any Participant in respect of his or her Participant Percentage shall be calculated based on the Gross Realized Performance Fees for a specified calendar year (each such year, a “Realization Year”), as set forth in an Award Letter.

In addition, at the same time, each Participant will be provided with the opportunity to (x) elect for the Company to invest, for the Participant’s benefit, the Supplemental Amount into one or more evergreen funds designated by the Company for such purpose or (y) receive the fixed Supplemental Amount without interest and subject to such other terms set forth herein. Investments shall begin as of March 1 (or such other date as may be communicated to the Participant) of the year immediately following the Realization Year and shall be subject to marked-to-market increases and decreases through the applicable vesting date (the “Supplemental Investment Value”). The Supplemental Amount or Supplemental Investment Value, as applicable, will be paid to the Participant in accordance with Section V below and the applicable Award Letter. The Supplemental Investment Value will be periodically reported to Participants which value may be higher or lower than the Supplemental Amount.

The Participant shall be paid in cash, in accordance with his or her election, either (x) the Supplemental Amount, or (y) the Supplemental Investment Value no later than March 15th of the year following the year in which such amount vests. Such payment shall be subject to applicable withholding and made without interest.

Amounts paid to any Participant pursuant to the Plan shall not be subject to clawback in the event that any clawback from a Carry Vehicle of distributions of Gross Realized Performance Fees is triggered by any Apollo Fund. Any such clawback shall instead be borne and satisfied solely by the Carry Vehicle and/or the Company and/or its Affiliates (and not by a Participant solely on account of his or her participation in the Plan). However, if a Participant violates any Company policies, including but not limited to the Company’s Code of Ethics, or breaches the terms of any contractual obligation or restrictive covenant to which the Participant is subject, in addition to any other remedy that may be available at law or in equity, the Participant’s rights under the Plan and any Award Letter shall automatically be forfeited effective as of the date as of which such violation first occurs. The foregoing rights and remedies are in addition to any other rights and remedies that may be available to the Company and will not prevent the Company from bringing one or more actions in any applicable jurisdiction to recover damages as a result of any such breach. In addition, amounts paid to any Participant under the Plan shall be subject to any recoupment policy adopted by the Company that provides for the repayment or forfeiture of incentive compensation. The Administrator in its sole discretion shall determine when and how to reallocate any forfeited Participant Percentage or other amount for any

All Participant Percentages for any Realization Year shall be determined in the Administrator’s sole discretion. No individual has any right to receive any payment under the Plan, unless and until such person receives and executes an Award Letter and satisfies the applicable terms and conditions. Except as may otherwise be provided in Award Letter, payments under the Plan are conditioned on the selected Participant’s continued employment or service (and not being under notice, given or received) as described in Section IV, and the Participant’s continuing compliance with the Company’s written policies, including the Company’s Code of Ethics and the contractual obligations to which the Participant is subject, including any restrictive covenants. Receipt of an award in one year does not ensure participation in any other year and any Award under the Plan shall be determined in the sole discretion of the Administrator. Nothing in the Plan will interfere with or limit the right of the Company to terminate any Participant’s employment or service at any time, or confer upon the Participant any right to continue to be employed or engaged by the Company for any period of time.

XI.     Administration

“Administrator” means the committee of at least two individuals appointed to administer the Plan, or if no such committee is appointed, AGM’s Global Head of Human Capital or a designee thereof; provided that it shall be interpreted to mean the Compensation Committee of AGM with respect to any awards to executive officers of AGM.

“Affiliate” of any person or entity means any other person that directly or indirectly through one or more intermediaries controls, is controlled by or is under common control with, such person or entity, and shall include, without limitation, Apollo-affiliated management companies, funds, and managed accounts.

“Apollo Fund” means an investment fund or account managed or advised by a subsidiary of AGM that primarily invests third party capital in return for a management fee and the right to earn carried interest income or other incentive income.

“Carry Vehicle” means the Affiliate of AGM that acts in the capacity of the general partner, managing member, investment manager or similar relation of any Apollo Fund and distributes incentive income received from such Apollo Fund to its limited partners, members or other interest holders.

“Gross Realized Performance Fees” means the total carried interest or incentive realizations from Apollo Funds that are distributed by Carry Vehicles, in accordance with the applicable fund agreements, as in effect from time to time, as adjusted by the Administrator in its sole discretion to limit certain streams of incentive income realized from specified Apollo Funds for which almost all of the carry value has been allocated outside of the Plan, or include additional streams of incentive income from time to time.