Financial Data and Key Metrics Changes - The company reported distributable earnings prior to net realized losses of $65.8 million or $0.46 per share, with a common stock dividend maintained at $0.35 per share, resulting in a dividend coverage ratio of 131% and a dividend yield of 12.4% as of June 30 [11] - GAAP net loss was $86.5 million or $0.62 per diluted share, with the portfolio ending the quarter at an outstanding principal balance of $8.6 billion and a weighted average unlevered yield of 8.6% [11][12] - The company recorded a $126 million Specific CECL Allowance on the junior mezzanine A loan and increased the allowance on the junior mezzanine B loan by $15.5 million, resulting in a total write-off of $82 million [12][13] Business Line Data and Key Metrics Changes - The loan portfolio saw positive events, including a significant lease agreement for a major office construction loan, which de-risked the transaction [6] - Year-to-date, the company received $595 million in full or partial loan repayments, with an additional $300 million expected in Q3 [7] - The Mayflower Hotel's net cash flow has exceeded pre-pandemic levels, indicating strong operating performance [7] Market Data and Key Metrics Changes - The real estate market is experiencing a recalibration phase, with negative sentiment affecting transaction volumes and valuations [5] - Concerns regarding refinancing risks and potential economic slowdown persist, impacting buyer-seller dynamics [5] Company Strategy and Development Direction - The company is focused on maintaining robust liquidity and diversifying its lender base, having entered into a new secured borrowing facility [9] - The strategy includes active engagement with borrowers to inject additional equity into transactions in exchange for extended loan terms [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the pricing perspective for the Steinway project, despite dialing back expectations on timing [15] - The company remains optimistic about covering dividends through the end of the year, despite challenges posed by the Steinway project and the expired interest rate cap [23][29] Other Important Information - The company repurchased $37 million of convertible notes during the quarter, reducing the outstanding balance to $176 million [9] - The debt-to-equity ratio at quarter-end was 2.9x, with $857 million of unencumbered real estate assets [13] Q&A Session Summary Question: Concerns about Steinway Tower and loss potential - Management indicated that they have ring-fenced loss potential and are confident in pricing despite reduced expectations on timing [15] Question: Remaining units and potential write-downs - Management acknowledged better interest at the penthouse level but emphasized the need to sell units regardless of their location in the building [19] Question: Dividend implications and earnings projections - Management projected that the dividend will be comfortably covered through the end of the year, despite the impact of the interest rate cap and non-accrual status of Steinway [23][29] Question: Update on REO assets and hotel performance - The Atlanta Hotel has been rebranded and is under active dialogue for sale, while the Mayflower Hotel is performing better than pre-COVID levels [25][26] Question: Liquidity plans and sources - The company plans to maintain excess liquidity, with unencumbered assets and repayment activity as potential sources of liquidity [40] Question: Appetite for new lending - Management indicated that while there are attractive deals available, the focus remains on maintaining liquidity for existing operations [44]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________ Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ FORM 10-Q __________________________________ (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2023 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1 ...

Q1 2023 Financial Results Apollo Commercial Real Estate Finance, Inc. April 2023 Unless otherwise noted, information as ofMarch 31, 2023 It should not be assumed that investments made in the future will be profitable or will equal the performance of the investmentsshown in this document. Forward Looking Statements and Other Disclosures ...

Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) Q1 2023 Earnings Conference Call April 27, 2023 9:00 AM ET Company Participants Stuart Rothstein - President and Chief Executive Officer Anastasia Mironova - Chief Financial Officer Conference Call Participants Sarah Barcomb - BTIG Richard Shane - JP Morgan Jade Rahmani - KBW Steve DeLaney - JMP Securities Stephen Laws - Raymond James Operator [Abrupt start] I would like to remind everyone that today's call and webcast are being recorded. Please note th ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________ Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ FORM 10-Q __________________________________ (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2023 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of ...

Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) Q4 2022 Earnings Conference Call February 9, 2023 10:00 AM ET Corporate Participants Stuart Rothstein - President and Chief Executive Officer Anastasia Mironova - Chief Financial Officer Conference Call Participants Steve DeLaney - JMP Securities Stephen Laws - Raymond James Jade Rahmani - KBW Eric Hagen - BTIG Rick Shane - JPMorgan Operator Good day and welcome to the Q4 2022, Apollo Commercial Real Estate Finance, Inc.'s Earnings Conference Call. At t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________ Emerging growth company ☐ FORM 10-K __________________________________ (Mark One) ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2022 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number: 001-34452 ______________________________ ...

Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) Q3 2022 Earnings Conference Call October 25, 2022 10:00 AM ET Company Participants Stuart Rothstein - President & Chief Executive Officer Anastasia Mironova - Chief Financial Officer Conference Call Participants Doug Harter - Credit Suisse Stephen Laws - Raymond James Jade Rahmani - KBW Steve DeLaney - JMP Securities Rick Shane - JPMorgan Eric Hagen - BTIG Operator I’d like to remind everyone that today’s call and webcast are being recorded. Please note ...