Aegon Analyst & Investor Conference

All targets have been met 2015 Target Delivery Stable RoC of ~8%* Stable earnings from 2010 Key drivers Margin on investments Strict management on expenses, mainly related to the insurance business Growth fee based business Increase fee business Especially driven by new initiatives Stable cash flows of EUR 250 million Cash flows have been generated, but not all upstreamed due to conversion to Solvency II regime 4 Excluding the impact of the accounting changes implemented in 2014 and leverage benefit at holding Aegon Analyst & Investor Conference

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