Transform Tomorrow - Aegon

Balanced outcome for all stakeholdersCommonshareholders&bondholders• Exchange of preferred shares leads to simplified and improved capital structure• Improved interest cover for Aegon as payment of preferred dividend will end• Limited dilutive effect for common shareholders• No economic preferential status for a single shareholder• Voting rights of Vereniging Aegon reduced and brought in line with economic ownership• Long-term commitment from Vereniging Aegon reaffirmedRegulatory• New structure allows hybrid capital to be classified as Tier 1 under new solvency rules• Improved interest cover for Aegon as payment of preferred dividend will endVerenigingAegon• Substantial reduction of outstanding debt• Vereniging Aegon maintains substantial common share position in Aegon• Retention special cause voting rights through creation of new class of shares, commonshares B17