From: Richard Kahn To: "jeffrey E." <[email protected]> Subject: Fwd: Apollo Global Management LLC: Model APO Refresh Date: Thu, 04 Aug 2016 13:34:56 +0000 Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 tel fax cel Begin forwarded message: From: "Morgan Stanley" < Subject: Apollo Global Management LLC: Model APO Refresh Date: Au ust 4, 2016 at 12:59:30 AM EDT To: < Reply-To: < Apollo Global Management LLC: Model APO Refresh WEALTH MANAGEMENT Subscription Notification: August 4 Nlichael J. Cyprys, CFA, CPA— Morgan Stanley August 4, 2016 4:01 AM GMT Raising 2016 EPSe by 72c to $1.36 (from $0.64) and 2017 EPSe by +18% to $2.05 (from $1.74) post 2Q16 earnings results. Our 2016/2017 divi increases to $1.14/$1.24. PT increases by $1 to $17. Remain Equal-weight. Also see our thoughts post 2Q earnings: Apollo Global Management LLC: Outlook Improving as Fund VIII Enters Carry (03 Aug 2016)Morgan Stanley is acting as financial advisor to the special committee of the board of directors for Apollo Residential Mortgage, Inc. ("AMTG") in connection with its definitive agreement to be EFTA00666998