Aegon Analyst & Investor Conference

16 Solid Solvency II capital position Year-end 2015 ratio estimated to be ~150% based on the approved partial internal model, which was granted early December of 2015 Remaining uncertainty is the extent of the loss- absorbing capacity of taxes. Potential impact on Solvency II ratio is approximately minus 5 to plus 10 percentage points Aegon is undertaking initiatives to improve the Solvency II ratio Solvency II SCR by risk type (in %) 7% 11% 15% 31% 8% 16% 12% ■Credit risk Interest rate risk ■Other market risk ■Longevity risk ■Lapse risk ■Expense risk Other risk Aegon Analyst & Investor Conference

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