Statement regarding William Hill plc

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

FOR IMMEDIATE RELEASE

12 November 2020

Statement Regarding William Hill plc ("William Hill")

Apollo Management International LLP (together with Apollo Global Management, Inc. and its other subsidiaries, "Apollo"), on behalf of certain of its affiliated funds, confirms that it is not intending to make an offer for William Hill.

This is a statement to which Rule 2.8 of the City Code on Takeovers and Mergers (the "Code") applies.

Under Note 2 on Rule 2.8 of the Code, Apollo reserves the right to set the restrictions in Rule 2.8 aside in the following circumstances:

(a) in the event that the offer by Caesars UK Holdings Limited ("Caesars") for William Hill (the "Offer") is withdrawn or lapses, with the agreement of the board of William Hill;

(b) if a third party announces a firm intention to make an offer for William Hill;

(c) if William Hill announces a "whitewash" proposal (see Note 1 of the Notes on Dispensations from Rule 9) or a reverse takeover (as defined in the Code); or

(d) if there has been a material change of circumstances (as determined by the Panel on Takeovers and Mergers (the "Panel")).

In addition, in light of Caesars' stated intention to seek suitable partners or owners for William Hill's businesses in the UK and other non-US international markets, the Panel has agreed that the restrictions in Rule 2.8, including Rule 2.8(f), shall not apply to any steps taken by Apollo (or its affiliates and any person acting in concert with Apollo or its affiliates) in relation to those businesses.

Apollo, its affiliates and any person acting in concert with Apollo or its affiliates, reserves the right to acquire and/or offer to acquire William Hill shares or interests in William Hill shares subject to and in accordance with Rule 2.8.

For investor inquiries regarding Apollo, please contact:

Peter Mintzberg, Head of Investor Relations +1 212-822-0528

Ann Dai, Investor Relations Manager +1 212-822-0678

For media inquiries regarding Apollo, please contact:

Joanna Rose, Global Head of Corporate Communications +1 212-822-0491

Publication on website

A copy of this announcement will be made available, subject to certain restrictions relating to persons resident in restricted jurisdictions, on Apollo's website at www.apollo.com/UKpossibleoffer. For the avoidance of doubt, the contents of that website are not incorporated into and does not form part of this announcement.

About 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 $433 billion as of September 30, 2020 in credit, private equity and real assets funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit www.apollo.com.