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PlayPower Appoints New President and Chief Executive Officer

Huntersville, NC – June 20, 2012

PlayPower’s Board of Directors and executive management group is pleased to announce that Joe Copeland has been appointed President and Chief Executive Officer of PlayPower Holdings, Inc. and PlayPower, Inc.. Joe will officially assume his responsibilities at PlayPower on June 20, 2012.

Joe brings to PlayPower a wealth of experience that will complement PlayPower’s global market leading position in commercial play equipment and marine products. Joe recently served as the VP of Goodyear Commercial Tire Systems and Chemical Operations,
which is a multi-billion global business. Joe began his career with Goodyear in 2001. Joe is a proven leader with a successful track record of building brands, operational leadership, developing sales channels and delivering superior results.

Joe’s office will be located in PlayPower’s Huntersville, NC. headquarters. He will be relocating to the Charlotte area shortly. “I am very excited to join the leadership team at PlayPower,” stated Mr. Copeland. “I believe the company has performed well during these tough economic times, and is wellpositioned for growth with its strong brands, high quality products and the best sales network in the industry.”

About PlayPower

PlayPower is a leading global provider of Play, Sport and Recreation facilities and equipment. The company is headquartered in North Carolina, USA, with manufacturing facilities in Missouri USA, Sweden and the UK. The Company is represented in over 60
countries globally and has over 1100 employees.

PlayPower is made up individual brands with specific areas of expertise and market focus. They include Miracle Recreation, EZ Dock, Little Tikes Commercial and Soft Play in the United States. Hags, SMP, Playdirect and Freemove in Europe. All of the PlayPower companies are leaders in the markets in which they serve and have years of experience bringing play and recreation to life.

PlayPower’s aim is to inspire, innovate and bring pleasure to the people who use their equipment and facilities, and by doing so to lead the markets in all areas in which it competes.

More information is available at:

PlayPower is a portfolio company of Apollo Investment Corporation (NASDAQ: AINV).

About Apollo Investment Corporation

Apollo Investment Corporation (NASDAQ: AINV) is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company provides private debt market solutions to middle market
companies in the form of senior secured, mezzanine and asset based loans and may also acquire equity interests. The Company seeks to provide private financing solutions for private companies that do not have access to the more traditional providers of credit. Apollo
Investment Corporation is managed by Apollo Investment Management, L.P., an affiliate of Apollo Global Management, LLC, a leading global alternative investment manager.

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For more information, contact: Mike Pruss – CFO, PlayPower, Inc. 704-949-1603

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