TAX ESTIMATE - ALL APOLLO ENTITIES OWNED BY LDB AND FAMILY (GRANTOR TRUSTS) FY 2014 I Tax Year 2014 Slabe leformatite BLACK FAMILY PARTNER% IMI. Ordmay home Na PenIoI beau Quelehof Ussiensh Sbon.Terns Capital Win 1p3-Tam Caput Cam ISAC.IMCSII mom, expense Punlelso DeJoame. Taxable lactase tableau Suet home lova Sure home Neu Vent Sum home Neu Yost Clay Seam. Apollo Attars 11 - Apello Coiawslore IV 239 Apollo Colawslon V sspello Coiawslore VI 35.410 3.195 sspello TIT 404.101 33305 .1pollo SONIA (4.86111 472.278 441366 ECI Cannier. II AP Proftsslosa Hold 59.020040 11845.275 2.595.178 1P Allermalive Mates. Apt& Athtson II. Blact Famat 1997 Trust • - TRA . Luis Mork 5.432.138 - AP ARellathe Atter, IMI. • Lao Black - Cita Oppurluai6 Fund I . LEV Holdings. LLC 3383.207 COP Alauteranst 10.1.1.11111loklInga.I.LC Kr Caretttors I • U/11201I. LLC - (1)1/1 3.185.000 - 12.619.0971 (998.10101 - 11617.9805 (3433351 11.888) 1345.184) - - 1.133.785 - 1.133.785 788 11.123.214 119.065) 119101) 11.123.940 1511034 177.9591 1315100 155.939) 173.138 584982 300288 11263) 153207) 1.114.056 3.047.804 214.767.490 (1696472) (SA142116) 300.545.069 5.004.06 2.318 12.748) 1430) 11845.776) (796.5301 - 12642306) 6.925.74E - - 12357.886 - 53099 - 162364) 192165) 272.750 523.919 11205349) 1995.077) 2376.131 - - - - - - - - - 3.115000 598.458 39.(01A15 14 lel 44S - TOTAL 361417.310 542.325.510 52/40.411 13404515) 1232.61334 ($ Kunst)) ($542900) 5125.713.240 $5.004.116 5598.438 53901635 514.101.448 Ilaslarts 59.020.040 34.845.275 2395.778 3.047.804 214.767.450 (8.696.472) (5034.846) 300345.069 5.00/.436 598.458 39078.635 14.161.448 1/Inal Street (4.86111 4.295.215 111.666 13454.319) 10320.316 (1351200 1594.114) 9.695285 TRA 121131 5.432.138 6.925.748 12357.886 C01/I 1.181111Xi . . • • 3.111000 TOTAL 564.447310 342.325.510 52.680.444 151065151 5232.613.554 (510247.9731 155.6590901 53253'13240 55.001.436 5598.458 539.071635 514361.448 CONFIDENTIAL - CONTAINS MATERIAL NON PUBLIC INFORMATION 7 EFTA01110642 MATERIAL NON PUBLIC INFORMATION Leon Black- AP Professional Management C. DNI Management Co. AdjustmentsP1 Mgmt Co. Taxable Income AOG Ownership %U) Mgmt TI - Leon Black Incentive Co. Taxable Income AOG Ownership V' Incentive Co. TI - Leon Black" Total Taxable Income-Leon Black Total Taxable Income Total DNI Taxable Income Character Ordinary Net Portfolio Preferential Total 2014 2015 $432,357,642 $420,484,072 (238,881,733) (392,314,140) 193,475,909 28,169,933 24.40% 23.44% $47,205,941 $6,601,788 1,019,831,070 230,195,857 24.40% 23.44% 253,339,128 53,947,739 300,545,069 60,549,527 1,213,306,979 258,365,789 1,340.142,929 618,867,602 59,020,040 24.161,761 217,363.268 300,545,069 6,601,788 20,146,329 33,801.411 60,549,527 Pro'ected AOG Distributions 307,466,117 139,443,147 Average Shares Owned Average Total Sharecount AOG Ownership 92,727,166 92,727,166 383,400,815 395,668,284 24.40% 23.44% (1) Management company adjustments for Athene C&S fees (2014 only) and share deliveries. (2) Assumes no additional AOG Exchanges. (3) Heritage adjustment is included in Incentive Company Taxable Income Supplemental income and cash related to 2014 projections: Cancelation of Debt Income $ 3,185,000 Ordinary Income Supplemental income and cash related to 2015 projections: Cancelation of Debt Income $ 2.788,639 Ordinary Income EFTA01110643