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be adjusted pursuant to Section 2.3. "Equivalent Heritage Points Deficit" means, with respect to a Principal Group, as of immediately prior to any Exchange, the excess (if any) of the number of 4 I ." CSI. 144-7-7441'9 1/octi: US1:107703119t 15 EFTA00808228 Equivalent Heritage Points of such Princ
U), LLC AREA Co-Investors (EU), LLC Apollo Corp. EU II Co-Investors, LLC Apollo Real Estate Mezzanine Management, LP AP Excelsior Management, LP AP Epoch Management, LP Apollo Real Estate Investment Fund, LP AREIF II Co-Investors, LLC AREILIII_Co-Investors, LLC AREIF IV _Co-Investors, LLC AREIFY Co-Investors,
shall be adjusted pursuant to Section "Equivalent Heritage Points Deficit" means, with respect to a Principal Group, as of immediately prior to any Exchange, the excess (if any) of the number of Equivalent Heritage Points of such Principal Group over the Pecuniary Interest in the Heritage Points of such
EU), LLC AREA Co-Investors (EU), LW Apollo Corp. EU II Co-Investors, LLC Apollo Real Estate Mezzanine Management, LP AP Excelsior Management, LP AP Epoch Management, LP Apollo Real Estate Investment Fund, LP AREIF II Co-Investors, LLC AREIF III Co-Investors, LW AREIF IV Co-Investors, LLC AREIF V Co-Investors
be adjusted pursuant to Section 2.3. "Equivalent Heritage Points Deficit" means, with respect to a Principal Group, as of immediately prior to any Exchange, the excess (if any) of the number of Equivalent Heritage Points of such Principal Group over the Pecuniary Interest in the Heritage Points of such
U), LLC AREA Co-Investors (EU), LLC Apollo Corp. EU II Co-Investors, LLC Apollo Real Estate Mezzanine Management, LP AP Excelsior Management, LP AP Epoch Management, LP Apollo Real Estate Investment Fund, LP AREIF II Co-Investors, LLC AREIF III Co-Investors, LLC AREIF IV Co-Investors, LLC AREIF V Co-Investor
Entities connected to both Exchange and AP Epoch Management

United States
LOCATIONLeon Black
PERSONthe State of New York
LOCATION
Eric Holder
PERSONCayman
LOCATION
Cayman Islands
LOCATION
New York State
LOCATIONApollo Management Holdings
ORGANIZATIONWeiss
PERSONthe Apollo Operating Group
ORGANIZATIONLevin
PERSONJohn J. Suydam
PERSON
Apollo Global Management
ORGANIZATIONBRH Holdings GP, Ltd.
ORGANIZATIONthe Group of another Principal
ORGANIZATIONthe Tax Receivable Agreement
ORGANIZATIONFund IV
ORGANIZATIONBRH Holdings GP
ORGANIZATIONDisability
ORGANIZATIONthe Heritage Points
ORGANIZATION