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Appointment opens a new chapter in Apollo’s next phase of growth: expanding capital, wealth and retirement solutions across the region

TOKYO and NEW YORK, Oct. 15, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE: APO) today announced Mr. Eiji Ueda has been named a Partner and Head of Asia Pacific, succeeding Matt Michelini. Michelini, who has spearheaded Apollo’s rapid expansion across the region since his appointment in 2022, will remain in region to oversee Ueda’s transition before assuming broader leadership responsibilities with the firm next year.

Ueda joins Apollo with demonstrated investment expertise and a nuanced understanding of Asia’s evolving needs. He most recently served as Chief Investment Officer of Japan’s Government Pension Investment Fund (GPIF), one of the largest institutional investors globally, where he led a strategic portfolio restructuring to deliver positive results through unprecedented market volatility. Previously, he spent nearly three decades with Goldman Sachs holding positions across major financial centres, including Head of Fixed Income Trading and Head of Fixed Income, Currency and Commodities (FICC) in Tokyo as well as Co-Head of Securities, Asia, based in Hong Kong. He also served as a member of Goldman’s Asia Pacific Management Committee, Firmwide Risk Committee and Chair of the Asia Pacific Risk Committee.

“Asia Pacific is key to Apollo’s next chapter of growth,” said Jim Zelter, President of Apollo. “Fundamental shifts in the region’s economies are creating a surge in demand for not just capital, but for more integrated financial solutions across capital, wealth and retirement. We believe Apollo’s full platform, including our origination ecosystem, is well-positioned to meet these needs. Ueda’s track record of innovation, disciplined risk oversight and cross-asset management will enable us to continue scaling with conviction and understanding of local markets.”

“Apollo is bringing something new to Asia: beyond global investment expertise underpinned by local sensitivity, the firm goes further to deliver wealth and retirement solutions others may find hard to build,” said Ueda. “Asia’s demographics, savings base and capital gaps present one of the most compelling growth arcs in the world. I am excited to join the team and help position Apollo as the partner of choice across that entire continuum.”

“It has been a privilege to lead Apollo’s Asia growth over the past several years,” said Matt Michelini. “Together, we have assembled an incredibly talented team, built out our core capabilities in credit, hybrid capital, wealth and retirement solutions and established strategic partnerships that are unlocking new opportunities the region needs. Ueda’s appointment signals both continuity and evolution, and I look forward to partnering with him as we enter Apollo’s next stage of growth.”

Since 2022, Apollo’s Asia Pacific business has grown from 80 to over 150 professionals, spanning the region to deliver the firm’s leading capabilities across private investment grade credit, hybrid capital, wealth, retirement and insurance. Apollo’s approach in Asia reflects its broader strategy: long-term focused, structurally flexible and built on partnership and alignment. The firm has originated over $11 billion over the past twelve months — more than ten times the amount originated in 2020. Apollo’s retirement services business Athene has grown rapidly, reinsuring close to $19 billion in policy value to date. With strategic partnerships in Australia, Japan, Greater China and Korea, the firm has matched global scale to regional opportunities in support of growing demand for private market access and reliable income solutions.

About Apollo

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2025, Apollo had approximately $840 billion of assets under management. To learn more, please visit www.apollo.com.

Forward-Looking Statements

In this press release, references to “Apollo,” “we,” “us,” “our” and the “Company” refer collectively to Apollo Global Management, Inc. and its subsidiaries, or as the context may otherwise require. This press release may contain forward-looking statements that are within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, discussions related to Apollo’s expectations regarding the performance of its business, its liquidity and capital resources and other non-historical statements. These forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. When used in this press release, the words “believe,” “anticipate,” “estimate,” “expect,” “intend” and similar expressions are intended to identify forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. These statements are subject to certain risks, uncertainties and assumptions. We believe these factors include but are not limited to those described under the section entitled “Risk Factors” in our annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 24, 2025, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. This press release does not constitute an offer of any Apollo fund.

Contacts

Noah Gunn

Global Head of Investor Relations

Apollo Global Management, Inc.

(212) 822-0540

IR@apollo.com

Joanna Rose

Global Head of Corporate Communications

Apollo Global Management, Inc.

(212) 822-0491

Communications@apollo.com

[Riyadh, Saudi Arabia, October 16, 2025] Zain KSA, in partnership with Huawei, has completed the commercial deployment of 5G standalone (SA) on the 600 MHz frequency band in Saudi Arabia. This milestone significantly expands 5G coverage, delivering cell edge users (CEUs) a 50% reduction in latency and a 10x boost in uplink speeds. This enables faster responses and smoother real-time interactions for AI-driven mobile applications. These advancements also power cloud services, UHD live streaming, and IoT applications, positioning Riyadh as a global model for mobile AI cities and supporting Saudi Vision 2030’s goal of driving digital transformation through cutting-edge digital infrastructure.

Zain KSA has established a demonstration zone of 600 MHz low-band 5G SA networks in Riyadh and plans to begin a full-scale commercial rollout in Riyadh and Jeddah by Q4 2025. This will be followed by expansion across other major and secondary cities, as well as key roads linking them. The deployment leverages innovative carrier aggregation, ultra-wideband, and multi-antenna technologies to integrate the low band with Zain KSA’s existing 5G high-band spectrum. This synergy delivers wider and deeper 5G coverage, even in challenging environments such as underground parking areas and museums. It also provides stable and reliable connectivity for advanced services, including Voice over New Radio (VoNR), reduced capability (RedCap), HD video calls, real-time mobile AI interactions, cloud applications, and mobile gaming.

The sub-1 GHz band delivers wide coverage and, when used in FDD mode, reduces latency while boosting uplink speeds. It provides an ideal network foundation for real-time interactions, IoT, and vehicle-to-everything (V2X) applications in the mobile AI era. The device ecosystem for low bands is also rapidly maturing, with several leading smartphone brands already offering compatible models. Zain KSA can now extend its network reach across cities, rural areas, and roadways, with fewer base stations, optimizing investment costs and supporting network sustainability while enhancing service quality and coverage.

Eng. Mohammad AlNujaidi, CTO of Zain KSA, commented on the milestone: “This deployment represents a major leap forward in expanding Zain KSA’s 5G reach and reliability, empowering individual and enterprise users with high-performance digital experiences. Also, by enabling wide-area coverage with fewer sites, the technology supports more efficient infrastructure, reinforcing our commitment to sustainable innovation. These network advancements form a critical pillar in our mission to accelerate Saudi Arabia’s digital transformation and cement its leadership in the mobile AI era, in line with the goals of Saudi Vision 2030.”

Fang Xiang, Vice President of Huawei Wireless Network Product Line, said: “600 MHz is a golden frequency band for achieving ubiquitous 5G and 5G-A coverage. It offers high-quality multi-dimensional capabilities such as deep coverage, large uplink bandwidth, and low latency to address the needs of mobile AI services. Its strategic value has been widely recognized by global operators. Huawei is proud to partner with Zain KSA on this milestone commercial deployment. Together, we have set a new benchmark for 5G-A coverage and user experience. Looking ahead, we will continue joint innovation with Zain KSA across networks, applications, and services to deliver even greater value and drive sustainable business growth.”

With this deployment, Zain KSA reaffirms its leadership in pioneering advanced network technologies and shaping a hyper-connected, intelligent future for Saudi Arabia.