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Apollo Senior Floating Rate Fund Apollo Senior Floating Rate Fund February 28, 2021 Fund Facts and Data (as of 2/28/21) Objective and Strategy Symbol NYSE - AFT Apollo Senior Floating Rate Fund Inc. (the “Fund” or “AFT”) is a diversified, closed- Inception Date 2/23/11 end management investment company. The Fund’s investment objective is to seek Closing Price $14.50 current income and preservation of capital by investing primarily in senior, secured Closing NAV $16.45 loans made to companies whose debt is rated below investment grade and investments with similar economic characteristics. Senior loans typically hold a first lien priority and Premium/(Discount) (11.85%) Current Monthly pay floating rates of interest, generally quoted as a spread over a reference floating rate $0.074 benchmark. Dividend (per share) Current Distribution Rate 6.12% Apollo (as defined below) seeks to generate current income and preservation of capital (Market Price)1 through a disciplined approach to credit selection. Under normal market conditions Current Distribution Rate 5.40% the Fund invests at least 80% of its managed assets (which includes leverage) in (NAV)1 floating rate senior loans and investments with similar economic characteristics. 52 Week High/Low Share $15.10/$9.10 Apollo uses its core industry expertise and strategic platform to identify investment Closing Price opportunities and believes that it employs a conservative approach to credit selection 52 Week High/Low NAV $16.56/$11.89 that focuses on collateral coverage, structural seniority and credit fundamentals, with a Capital Structure particular emphasis on leading defensible market positions, stable companies with positive cash flow and proven management teams. Shares Outstanding 15,573,061 Net Asset Value $256,217,466 Portfolio Composition2 Credit Quality2 Leverage $121,000,000 Total Managed Assets $377,217,466 Dollar % of Leverage 32.08% Portfolio & Risk Statistics3 Weighted Average 3.95% Floating-Rate Spread Weighted Average 7.05% Fixed-Rate Coupon Weighted Average Maturity BB 7.4% 4.82 Loans 96.6% (in years) (floating assets) High-Yield Bonds 1.8% B 73.4% CCC+ or Lower 11.8% Weighted Average Maturity Equity/Other 1.6% 4.36 Not Rated 7.4% (in years) (fixed assets) Weighted Average Modified Duration 2.93 (in years) (fixed assets) Growth of Hypothetical $10,000 Investment Over Time Weighted Average 4 (2/23/11 – 2/28/21) Modified Duration 4.72 (in years)5 $16,000 Average Position Size6 $2,789,668 15,000 14,000 Number of Positions 154 13,000 12,000 Weighted Average 7 B 11,000 S&P Rating 10,000 Weighted Average Rating 3,042 9,000 Factor (Moody’s)7 8,000 Feb-11 Feb-12 Feb-13 Feb-14 Feb-15 Feb-16 Feb-17 Feb-18 Feb-19 Feb-20 Feb-21 Management Team 1. Distribution rates represent the latest declared regular dividend, annualized, relative to the most recent month-end market price and NAV. Joseph Moroney, CFA Special dividends are not included in the calculation. James Vanek 2. Portfolio data shown as a percentage of fair value at February 28, 2021. 3. Averages based on par, except for the weighted average modified duration, which is based on fair value. 4. Assumes all distributions reinvested at reinvestment rate. For more information: 5. Excludes equity investments and warrants and includes fixed and floating rate assets. Floating rate loan duration is calculated using 3 month LIBOR. visit www.apollofunds.com 6. Excludes equity investments and warrants. or call 877-864-4834 7. Excludes securities with no rating or non-performing defaulted securities at month end. Excluding securities with no rating or performing and non- performing defaulted securities at month end, the Weighted Average S&P Rating and Weighted Average Rating Factor (Moody’s) is B and 3,042, respectively. Apollo Senior Floating Rate Fund Apollo Tactical Income Fund February 28, 2021 Top 5 Industries8 (as of 2/28/21) Premium / (Discount) To NAV (as of 2/28/21) High Tech Industries 15.7% Services: Business 14.0% 21 Market Price NAV Healthcare & Pharmaceuticals 10.0% 19 17 Telecommunications 9.7% 15 Banking, Finance, Insurance 7.6% 13 & Real Estate 11 Total 57.0% 9 Feb-11 Feb-12 Feb-13 Feb-14 Feb-15 Feb-16 Feb-17 Feb-18 Feb-19 Feb-20 Feb-21 Top 10 Issuers9 (as of 2/28/21) Performance Analysis — Common Shares Intelsat Jackson Holdings S.A. 4.0% (as of 2/28/21) Asurion, LLC 2.6% Annualized Cumulative Milano Acquisition Corporation 2.3% MTD QTD YTD 1 Yr. 5 Yr. Since Since Inception11 Inception11 Riverbed Technology, Inc. 2.0% At NAV10 0.87% 2.89% 2.89% 7.42% 7.95% 5.97% 78.72% Deerfield Dakota Holding, LLC 1.6% At Market 0.30% 1.72% 1.72% 7.00% 8.61% 4.16% 50.45% Price10 Flexera Software, LLC 1.6% S&P/LSTA Delta Air Lines, Inc. 1.5% Leveraged 0.59% 1.78% 1.78% 5.78% 5.86% 4.23% 51.45% Loan Index Ivanti Software, Inc. 1.5% Returns for periods of less than one year and cumulative since inception are not annualized. Past performance is no guarantee of future results. Both the market price for Fund shares and their NAV will fluctuate with market PG&E Corporation 1.5% conditions and shares, when sold, may be worth more or less than their original cost. Current performance may be higher or lower than the performance shown. Petco Health and Wellness Company, Inc. 1.5% Total 20.1% Distributions — Common Shares (Last 24 Months) $0.300 Monthly Dividend Paid Special Dividend Paid 0.250 Monthly Dividend Declared 0.200 0.150 0.100 0.050 3/31/19 6/30/19 9/30/19 12/31/19 3/31/20 6/30/20 9/30/20 12/31/20 3/31/21 8. The industry classifications reported are from widely recognized market indexes or rating group indexes, and/or as defined by Fund management, with the primary source being Moody’s. Portfolio data shown as a percentage of fair value at February 28, 2021. 9. Holdings are subject to change and are provided for informational purposes only. Portfolio data shown as a percentage of fair value at February 28, 2021. 10. Assumes all distributions reinvested at reinvestment rate. 11. Inception date February 23, 2011. Beginning NAV is net of sales load. Apollo Senior Floating Rate Fund February 28, 2021 About Apollo Apollo Credit Management, LLC serves as the Fund’s investment adviser. The adviser may draw upon the experience of its affiliates, including Apollo Global Management, Inc. and its subsidiaries and affiliates (“Apollo”). Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, San Diego, Houston, Bethesda, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong, Shanghai and Tokyo. Apollo had assets under management of approximately $455 billion as of December 31, 2020 in credit, private equity, and real assets funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. INVESTMENT PRODUCTS: NOT FDIC OR SIPC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE An investment in the Fund is not appropriate for all investors and is not intended to be a complete investment program. An investment in the Fund involves risks, including the risk that you may receive little or no return on your investment or that you may lose part or even all of your investment. Therefore, prospective investors should consider carefully the Fund’s investment objectives, risks, charges and expenses and should consult with a tax, legal or financial advisor before making any investment decision. Shares of closed-end investment companies frequently trade at a discount from their net asset value. The data shown in this fact card is subject to change on a daily basis. Certain Risk Considerations Senior Loans. Senior loans are usually rated below investment grade and may also be unrated. As a result, the risks associated with senior loans are similar to the risks of below investment grade fixed income instruments and may be considered speculative. Senior loans are subject to a number of risks, including liquidity risk and the risk of non-payment of scheduled interest or principal. There may be less readily available and reliable information about most senior loans than is the case for many other types of securities. As a result, Apollo will rely primarily on its own evaluation of a borrower’s credit quality. Corporate Bonds. The Fund may invest in a wide variety of bonds of varying maturities issued by U.S. and foreign corporations, other business entities, governments and municipalities and other issuers. The Fund’s investments in corporate bonds may include, but are not limited to, senior, junior, secured and unsecured bonds, notes and other debt securities, and may be fixed rate, variable rate or floating rate, among other things. Apollo expects most of the corporate bonds in which the Fund invests will be high yield bonds (commonly referred to as “junk” bonds), which may be considered speculative. The market value of a corporate bond generally may be expected to rise and fall inversely with interest rates. The value of intermediate and longer-term corporate bonds normally fluctuates more in response to changes in interest rates than does the value of shorter-term corporate bonds. The market value of a corporate bond also may be affected by investors’ perceptions of the creditworthiness of the issuer, the issuer’s performance and perceptions of the issuer in the marketplace. Leverage Risk. The Fund intends to utilize leverage and may utilize leverage to the maximum extent permitted by law. The use of leverage to purchase additional securities creates an opportunity for increased common share dividends, but also creates risks for shareholders, including increased variability of the Fund’s net income, distributions and/or net asset value in relation to market changes.
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