X0202 SCHEDULE 13G/A 0001104659-21-102859 0001449433 XXXXXXXX LIVE 12 See Exhibit 99.1 06/30/2026 0001678124 CION Ares Diversified Credit Fund MULTIPLES 100 Park Avenue 25TH FLOOR New York NY 10017 Rule 13d-1(b) Apollo Management Holdings GP, LLC DE 0.00 4110000.00 0.00 4110000.00 4110000.00 N 9.6 HC Athene Annuity and Life Company IA 0.00 4110000.00 0.00 4110000.00 4110000.00 N 9.6 IC Apollo Insurance Solutions Group LP DE 0.00 4110000.00 0.00 4110000.00 4110000.00 N 9.6 IA AISG GP Ltd. E9 0.00 4110000.00 0.00 4110000.00 4110000.00 N 9.6 HC Apollo Life Asset L.P. DE 0.00 4110000.00 0.00 4110000.00 4110000.00 N 9.6 PN Apollo Life Asset GP, LLC DE 0.00 4110000.00 0.00 4110000.00 4110000.00 N 9.6 HC Apollo Capital Management, L.P. DE 0.00 4110000.00 0.00 4110000.00 4110000.00 N 9.6 IA Apollo Capital Management GP, LLC DE 0.00 4110000.00 0.00 4110000.00 4110000.00 N 9.6 HC Apollo Management Holdings, L.P. DE 0.00 4110000.00 0.00 4110000.00 4110000.00 N 9.6 HC CION Ares Diversified Credit Fund 100 Park Avenue, 25th Floor, New York, NY 10017 This statement is filed by: (i) Athene Annuity and Life Company ("AAIA"); (ii) Apollo Insurance Solutions Group LP ("AISG"); (iii) AISG GP Ltd. ("AISG GP"); (iv) Apollo Life Asset, L.P. ("Apollo Life"); (v) Apollo Life Asset GP, LLC ("Apollo Life GP"); (vi) Apollo Capital Management, L.P. ("Capital Management"); (vii) Apollo Capital Management GP, LLC ("Capital Management GP"); (viii) Apollo Management Holdings, L.P. ("Management Holdings"); and (ix) Apollo Management Holdings GP, LLC ("Management Holdings GP"). The foregoing are collectively referred to herein as the "Reporting Persons." AAIA holds the Mandatory Redeemable Preferred Shares (the "MRPS") of the Issuer. AISG is the investment adviser of AAIA. AISG GP is the general partner of AISG. Apollo Life is the sole shareholder of AISG GP, and Apollo Life GP is the general partner of Apollo Life. Capital Management is the sole member of Apollo Life GP. The general partner of Capital Management is Capital Management GP. Management Holdings is the sole member and manager of Capital Management GP, and Management Holdings GP is the general partner of Management Holdings. The address of the principal office of AAIA is 7700 Mills Civic Parkway, West Des Moines, Iowa 50266. The address of the principal office of AISG is 2121 Rosecrans Ave. Ste 5300, El Segundo, California 90245. The address of the principal office of AISG GP is c/o Walkers Corporate Limited, 190 Elgin Avenue, George Town, KY1-9008 Grand Cayman, Cayman Islands. The address of the principal office of each of Apollo Life, Apollo Life GP, Capital Management, Capital Management GP, Management Holdings, and Management Holdings GP is 9 West 57th Street, 41st Floor, New York, NY 10019. AAIA - Iowa AISG - Delaware AISG GP - Cayman Islands Apollo Life - Delaware Apollo Life GP - Delaware Capital Management - Delaware Capital Management GP - Delaware Management Holdings - Delaware Management Holdings GP - Delaware N IC IA HC Information in Row 9 of the respective cover pages of the individual Reporting Persons is incorporated into this Item 4(a) by reference. AISG, AISG GP, Apollo Life, Apollo Life GP, Capital Management, Capital Management GP, Management Holdings, Management Holdings GP, each disclaim beneficial ownership of all the MRPS held of record by AAIA, and the filing of this report shall not be construed as an admission that any such person or entity is the beneficial owner of any such securities for purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended, or for any other purpose. Information in Row 11 of the respective cover pages of the individual Reporting Persons is incorporated into this Item 4(b) by reference. The Reporting Persons' aggregate percentage of beneficial ownership of the total amount of the MRPS outstanding is based on 42,800,000 shares of MRPS outstanding as of December 31, 2025, reported in the Issuer's Certified Shareholder Report filed on March 6, 2026. 0 for all Reporting Persons 4,110,000 for all Reporting Persons 0 for all Reporting Persons 4,110,000 for all Reporting Persons Y Y N See response to Item 2(a), which is incorporated herein by reference. Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11. Exhibit 99.1 Type of Class of Securities CUSIPs Series A Mandatory Redeemable Preferred Shares 17260G 2@1 Series B Mandatory Redeemable Preferred Shares 17260G 3@0 Series C Mandatory Redeemable Preferred Shares 17260G 4@9 Series D Mandatory Redeemable Preferred Shares 17260G 5@8 Series G Mandatory Redeemable Preferred Shares 17260G 8@5 Series E Mandatory Redeemable Preferred Shares 17260G 6@7 Apollo Management Holdings GP, LLC /s/ William Kuesel 08/11/2026 Athene Annuity and Life Company Apollo Insurance Solutions Group LP 08/11/2026 AISG GP Ltd. 08/11/2026 /s/ Angelo Lombardo 08/11/2026 Apollo Insurance Solutions Group LP AISG GP Ltd. 08/11/2026 /s/ Angelo Lombardo 08/11/2026 AISG GP Ltd. /s/ Angelo Lombardo 08/11/2026 Apollo Life Asset L.P. Apollo Life Asset GP, LLC 08/11/2026 Apollo Capital Management, L.P. 08/11/2026 Apollo Capital Management GP, LLC 08/11/2026 /s/ William Kuesel 08/11/2026 Apollo Life Asset GP, LLC Apollo Capital Management, L.P. 08/11/2026 Apollo Capital Management GP, LLC 08/11/2026 /s/ William Kuesel 08/11/2026 Apollo Capital Management, L.P. Apollo Capital Management GP, LLC 08/11/2026 /s/ William Kuesel 08/11/2026 Apollo Capital Management GP, LLC /s/ William Kuesel 08/11/2026 Apollo Management Holdings, L.P. Apollo Management Holdings GP, LLC 08/11/2026 /s/ William Kuesel 08/11/2026