Aegon : UK Strategy Teach-In

An introduction to the company

Our company

What we do

As an international financial services group, Aegon unites a diverse range of businesses that, together, help millions of people around the world live their best lives by offering a broad mix of investment, protection, and retirement solutions.

Operating result FY 2023

(163)

145

History

Our story began in the mid-1800s. Right from the start, Aegon's predecessors in the Netherlands and the US were community focused businesses that were driven by a similar purpose to ours today.

Employees

15,658

(FY 2023)

Assets under management

Revenue-generating investments of EUR 826 billion (FY 2023)

2

196	EUR
	1,498 million	1.107
214

	Americas		United Kingdom
	International		Asset Management
	Holding

Our purpose and strategy

3

• Our purpose is Helping people live their best lives.
• Longevity, aging, and changing life patterns are an opportunity for everyone.
• We help people build the financial foundations to explore the possibilities and challenges of a long and varied life.
• Our strategy is to create long-term value for our shareholders and other stakeholders through fully owned businesses, partnerships, and strategic shareholdings.
• We combine our deep industry expertise with a disciplined approach to managing our companies to strengthen their performance.
• We empower strong local management teams to build leading businesses that provide world-class investment, protection, and retirement solutions, tailored to their customers' needs.

Our portfolio of businesses

Fully owned businesses

• Transamerica - US
• World Financial Group - US and Canada

▪ Aegon - UK, Spain

▪	Aegon Asset Management - Global
▪	Transamerica Life Bermuda -
	Singapore, Hong Kong, Bermuda

Partnerships

▪ Aegon THTF - China

• Aegon Industrial Fund Management - China

▪ MAG - Brazil

▪ LBP AM - France

• Santander - Spain and Portugal

Strategic shareholding

• a.s.r. - The Netherlands

4

Transamerica

What we do

Aegon's US subsidiary, Transamerica, provides a broad range of life insurance and investment products, individual and group retirement plans, as well as asset management services.

Transamerica's most important distribution channel is World Financial Group (WFG), a wholly owned insurance agency. WFG distributes Transamerica products, as well as those of other insurers.

Customers

10.3 million

(FY 2023)

Transamerica employees

Over 6,000

(FY 2023)

WFG agents

Approximately 74,000 (FY 2023)

Operating results FY 2023

277

USD

1,197 million

920

Workplace Solutions		Individual Solutions

5

Aegon UK

What we do

In the United Kingdom, Aegon provides solutions for retirement, workplace savings, investing, and protection. Aegon holds leading positions in the retirement and savings markets in both the workplace and retail segments.

Customers

4 million (End of 2023)

Locations

Edinburgh, London, Peterborough and Witham

Employees

Around 2,500 (End of 2023)

Operating results FY 2023

GBP

186 million

6

Aegon Asset Management

What we do

Aegon Asset Management is an active global investment business that manages and advises on assets for a global client base.

Geographical footprint

Offices in the United States, the Netherlands, the United Kingdom, China, France, Germany, Hungary, and Spain.

Employees

Over 1,000 (FY 2023)

Distribution

Sales and distribution channels in the Americas, Europe, and Asia include affiliated companies, direct to institutional clients, independent investment advisors, investment consultants, joint ventures, and third-party investment platforms.

Assets under management

Total assets under management of EUR 305 billion (FY 2023)

Operating results FY 2023

23

EUR 145 million

121

	Global Platforms		Strategic Partnerships

7

Our other subsidiaries and partnerships

What we do

The main business lines of these businesses are life insurance, savings, pensions, asset management, general insurance and accident & health.

Geographical footprint

These businesses operate as MAG (Brazil), ATHTF (China), Transamerica Life Bermuda (Hong Kong, Singapore) and via a partnership with Santander (Spain & Portugal).

Operating results FY 2023

(6)

45

86	EUR	16
Customers	196 million
9.6 million
(FY 2023)

Employees

Around 700

(FY 2023)

54

MAG (Brazil)

ATHTF (China)

Transamerica Life Bermuda (Hong Kong, Singapore)

Santander (Spain & Portugal)

Other

8

Strategic shareholding

Creating a leading Dutch insurer

In July 2023, Aegon completed the combination of its Dutch pension, life and non-life insurance, banking, and mortgage origination activities with a.s.r. The transaction created a leading Dutch insurance company, which has a strong combined position in the Dutch pension market and is a leading player in property & casualty insurance, and disability insurance.

Compelling strategic and financial rationale

The combination has created substantial synergies and benefits for customers, business partners, employees, and shareholders.

Attractive long-term asset management partnership

Aegon has agreed an exclusive long-term partnership with a.s.r. to manage the illiquid investments that are part of the general account of the combined businesses. In addition, it will continue to be the asset manager for the investments of Aegon Cappital's PPI proposition and will take over the management of a.s.r.'s mortgage funds.

9

Our investors

We seek to provide a consistent and attractive return on investment to our investors, who include both shareholders and bondholders.

We create long-term value for our investors through fully owned businesses, partnerships, and strategic shareholdings.

Dividends paid	Interest payments	Financial	Sustainalytics
to shareholders	to bondholders	strength rating	ESG risk rating

EUR 495	EUR 241	A+	15.3
million in 2023	million in 2023	by S&P Global*	low risk

10 *A+ rating applies to Aegon USA and Aegon UK. For more information, please visit our corporate website.