Apollo Global Management Managing Partners Enter Into New Employment Agreements

Apollo Global Management, and its subsidiaries announced that Leon Black, Chairman and Chief Executive Officer, Josh Harris, Senior Managing Director, and Marc Rowan, Senior Managing Director have entered into new employment agreements with Apollo through to July 19, 2015.

The terms and conditions of the new agreements are substantially similar to the original employment agreements executed by theManaging PartnersonJuly 13, 2007, whose five-year term expired onJuly 13, 2012. The new agreements will be in effect throughJuly 19, 2015and will continue to provide each of theManaging Partnerswith total annual compensation of $100,000.

Leon Black, Apollo Global Management’s Chairman and Chief Executive Officer, said 'Josh, Marc and I strongly believe that the signing of our new employment agreements under substantially similar terms to our original agreements demonstrates our unwavering commitment to Apollo and a clear alignment of interests with our fellow shareholders. As a leading global alternative investment manager, Apollo is well positioned for continued expansion and diversification and we remain enthusiastic about the Company’s long-term growth prospects. After more than two decades together, we believe the best is yet to come for Apollo'.