Q4 2014 Public Offering & Exchange Timeline S M AUGUST 2014 T W T F SEPTEMBER 2014 S S N1 T W T F S S MT OCTOBER 2014 WT F S S NOVEMBER 2014 M T W T F S 3 10 17 24 31 4 II 18 25 5 12 19 In 26 6 13 1 2 M 2 7 8 9 7 8 9 14 15 16 14 15 16 21 22 23 21 22 23 28 pi 30 28 29 30 3 10 17 24 I 4 5 12 19 26 6 13 20 27 5 12 19 26 6 . 20 27 7 14 21 28 1 8 15 22 29 2 9 16 23 3 10 17 24 4 11 18 25 2 9 16 23 30 4 18 25 5 6 12 I=I 19 20 7 14 21 28 1 8 15 22 29 11 18 25 10 17 24 27 30 31 26 6 Key date described below Holiday TIMING DESCRIPTION August 20, 2014 • Last day to demand an underwritten public offering to occur during Q4 2014 (note: based on proposed Q3 2014 earnings release date of October 30, 2014) August 29, 2014 • At least 5 calendar days prior to submitting a written notice for any exchange (whether charitable or non-charitable, an "Exchange"), each Principal must inform the other Principals of his intention to do so (note: this date must be at least 5 calendar days prior to the actual submission of the written notice for an Exchange, not necessarily 5 days prior to the last day for such a notice as denoted here) September 4, 2014 • Last day to provide written notice for an Exchange to occur on the Q4 2014 Quarterly Exchange Date (November 3, 2014) October 30, 2014 • Q3 2014 earnings release (note: this date has been proposed by APO but is not a firm date) October 31, 2014 • Last day to revoke any Exchange noticed on or before September 4, 2014 if APO's stock price has dropped at least 10% since such date November 3, 2014• • Trading window opens under APO Insider Trading Policy, and 1065-1 Plans may be implemented o Trading window will remain open through December 5, 2014 • Quarterly Exchange Date for any Exchange noticed on or before September 4, 2014 for shares that will not be sold in a public