Apollo Commercial Real Estate Finance

Apollo Commercial Real Estate Finance, Inc., is a Maryland corporation that was organized in 2009. The Company is a real estate investment trust that mainly originates, acquires, invests in and manages performing commercial first mortgage loans, commercial mortgage-backed securities, mezzanine financings and other commercial real estate-related debt investments in the United States. The Company is externally managed and advised by ACREFI Management, LLC (the 'Manager'), an indirect subsidiary of Apollo Global Management, LLC, together with its subsidiaries, 'Apollo', a global alternative investment manager with a contrarian and value oriented investment approach in private equity, credit-oriented capital markets and real estate. The Company's main business objective is to make investments in its target assets in order to provide attractive risk adjusted returns to its stockholders over the long term, mainly through dividends and secondarily through capital appreciation. The Company also intends to operate its business in a manner that will permit it to continue to maintain its exemption from registration under the 1940 Act. The Company competes with other REITs, specialty finance companies, savings and loan associations, banks, mortgage bankers, insurance companies, mutual funds, institutional investors, investment banking firms, financial institutions, governmental bodies and other entities.