Epstein Secrets

s management or other employees who have a significant role in the Registrant's internal control over financial reporting. Date: March 9. 2012 /s/ Leon Black Leon Black Chief Executive Officer EFTA00623712 Exhibit 31.2 CHIEF FINANCIAL OFFICER CERTIFICATION I. Gene Donnelly. certify that: have revie

1 CHIEF EXECUTIVE OFFICER CERTIFICATION I. Leon Black, certify that: I. I have reviewed this Annual R

ded December 31. 2011. /s/ Dcloitte & Touche New York. New York March 8. 2012 EFTA00623711 Exhibit 31.1 CHIEF EXECUTIVE OFFICER CERTIFICATION I. Leon Black, certify that: I. I have reviewed this Annual Report on Form 10-K for the year ended December 31.2011 of Apollo Global Management. LW: 2. Based o

visors VI (EH-GP). Ltd. Apollo Advisors VI (EH). L.P. AAA Guernsey Limited Apollo Alternative Assets. L.P. AAA MIP Limited AAA Associates. L.P. APO Corp. Apollo SW Capital Management. LLC Apollo SW Advisors. L.P. Apollo SW Administration. LLC Apollo SOMA Capital Management. LLC Apollo SOMA Advisor

: NPV of After-Tax TRA - Tufts Gain Less: NPV of Future Tax - Tufts Gain NPV Value (After-Tax Proceeds + TRA Value) Difference versus No Deferral Leon Black 7.5% Sale NPV of Total Sale No Deferral 5 yr Def. 20 yr Def. No Deferral 5 yr Def. 20 yr Def. $89.5 $98.8 $98.8 $948.1 $1,045.9 $1,039.

+ TRA Value) Difference versus No Deferral Leon Black 7.5% Sale NPV of Total Sale No Deferral 5 yr

tribution will be recognized over time as founders exchange APP interests. As that gain is recognized, additional basis step-up will be delivered to APO Corp., resulting in additional future TRA benefits payable to founders. ► The following examples were prepared using certain assumptions, including: ► N

ded or supplemented from time to lime. "Agreement Among Principals" means the Agreement Among Principals, dated as of the date hereof, by and among Leon D. Black, Marc J. Rowan, Joshua J. Harris, Black Family Partners, L.P., a Delaware limited partnership, MJR Foundation LLC, a New York limited liability com

ated as of the date hereof, by and among Leon D. Black, Marc J. Rowan, Joshua J. Harris, Black Family P

a Delaware limited partnership, MJR Foundation LLC, a New York limited liability company, Joshua J. Harris, the Partnership, Intermediate Holdings, APO Corp., a Delaware corporation, APO Asset Co., LLC, a Delaware limited liability company, and each member of the Apollo Operating Group. "Control' means

007 (the "Reorganization"). The Company is managed and operated by its manager. AGM Management. LLC. which in turn is wholly-owned and controlled by Leon Black. Joshua Harris and Marc Rowan (the "Managing Partners"). As of December 31. 2011. the Company owned. through three intermediate holding companies th

h in turn is wholly-owned and controlled by Leon Black. Joshua Harris and Marc Rowan (the "Managing Part

earnings generated by APO Corp.. a wholly-owned subsidiary of Apollo Global Management. LLC that is subject to U.S. federal, state and local taxes. APO Corp. had income before taxes of $1.7 million and $211.0 million for the years ended December 31.2011 and 2010. respectively. after adjusting for permanen

POLLO OPERATING GROUP - TAX RECEIVABLE AGREEMENT BLACK FAMILY PARTNERS, LP AS OF DECEMBER 3, 2015 Numb

LY PARTNERS, LP AS OF DECEMBER 3, 2015 Number of Shares 92,727,166 Price per Share $15.81 Value of Block $1,465,552,859 Value Attributable to APO Corp. 69.99% $1,025,740,448 Annual Amortization (15 yr.) $68,382,696 Effective Tax Rate (Per Management) 40.35% Discount Rate 12.00% Year TRA Amo