Aegon Ltd. · EURONEXT:AGN
Aegon — Shareholder Meeting (January 2023)
24 slides from Aegon's shareholder meeting presentation, Jan 17, 2023
Slide 1: Welcome - Extraordinary General Meeting of Shareholders
Welcome Extraordinary General Meeting of Shareholders The Hague, January 17, 2023 1 Helping people live their best lives
Slide 2: William L. Connelly, Chairman of the Supervisory Board
William L. Connelly Chairman of the Supervisory Board Helping people live their best lives 2
Slide 3: Welcome to the Extraordinary General Meeting of Shareholders
Welcome to the Extraordinary General Meeting of Shareholders 3
Slide 4: Agenda item 1 Opening
Agenda item 1 Opening ss0N
Slide 5: How to vote
How to vote Click here to vote • Please submit your vote by clicking on “for”, “against”, or “withheld” • You can change your vote until the voting is closed • A vote confirmation will be displayed 5
Slide 6: Agenda item 2 Approval of the Transaction
Agenda item 2 Approval of the Transaction 6
Slide 7: Lard Friese, CEO
Lard Friese CEO Helping people live their best lives 7
Slide 8: Aegon to combine its Dutch operations with a.s.r.
Aegon to combine its Dutch operations with a.s.r. 8
Slide 9: Key messages
Key messages 1 Combination of Aegon the Netherlands and a.s.r. creates a leading Dutch insurance company 2 Aegon to receive 29.99% strategic stake in a.s.r. and EUR 2.2 billion1 in cash proceeds Transaction enables Aegon to accelerate its strategy of releasing capital from mature businesses 3 and to
Slide 10: Creating a leading Dutch insurance company
Creating a leading Dutch insurance company Compelling strategic and financial rationale Pro forma market shares1 • Combination leading to substantial synergies and benefits for Defined contribution Defined benefit pensions pensions customers, business partners, employees, and shareholders • Combinat
Slide 11: Becoming a strategic shareholder in a.s.r.
Becoming a strategic shareholder in a.s.r. Business combination parameters a.s.r. shareholder base • Aegon to receive 29.99% strategic stake in a.s.r. and EUR 2.2 billion1 in cash post-transaction proceeds • Shareholding will allow Aegon to participate in the strategic and financial benefits that th
Slide 12: Deploying cash proceeds in line with disciplined capital management approach
Deploying cash proceeds in line with disciplined capital management approach Cash proceeds of EUR 2.2 billion1 to be fully deployed Deployment cash proceeds • EUR 1.5 billion capital to be returned to shareholders2, which contributes to free cash flow per share accretion • Deleveraging of up to EUR
Slide 13: Improving outlook for free cash flow
Improving outlook for free cash flow • Capital return expected to neutralize the near-term impact from the transaction on free cash flow per share • Synergies from the combination are expected to drive growing dividends from a.s.r. Together with lower funding costs for Aegon, this is expected to lea
Slide 14: Providing attractive capital distributions to shareholders
Providing attractive capital distributions to shareholders • Total paid and announced capital distributions to Capital distributions to shareholders since 2020 CMD shareholders amount to EUR 2.5 billion since 2020 (Paid and announced since Dec. 10, 2020, in EUR million) Capital Markets Day, equal to
Slide 15: IFRS impact from transaction
IFRS impact from transaction Indicative impact on IFRS 4 equity • IFRS loss will not impact: (in EUR billion) - Aegon’s solvency ratios 2Q22 IFRS equity reported 17.1 - Targeted dividends Remove Aegon the Netherlands equity1 (8.3) Value Aegon’s stake in a.s.r. and net cash 4.9 proceeds2 Book loss (3
Slide 16: Transaction accelerates Aegon's strategy
Transaction accelerates Aegon’s strategy Delivering on CMD commitments Transaction accelerates strategy ✓ Sharpened strategic focus • Creating a market leader in the Netherlands • Releasing capital from mature businesses ✓ Successfully executing on the operational improvement plan • In line with str
Slide 17: Process steps
Process steps ✓ The required advice of the Aegon and a.s.r. works councils was provided Employee consultations and Executive decision taken Aegon submits the proposed combination for approval to its shareholders Shareholder votes at today’s EGM Closing is expected in the second half of 2023 subject
Slide 18: Transaction provides unique benefits and accelerates strategy
Transaction provides unique benefits and accelerates strategy Clear strategic focus, building • Creating a leader in the Dutch pension, life, and non-life insurance markets on our • Strengthening asset management capabilities in focus areas strengths Value- creating • Accelerating release of capital
Slide 19: Agenda item 2 Approval of the Transaction
Agenda item 2 Approval of the Transaction 19
Slide 20: Voting results
Voting results ss0N
Slide 21: Voting results
Voting results For %* Against %* Abstain Agenda item 2 xxx,xxx,xxx xx.xx% xxx,xxx,xxx xx.xx% xxx,xxx,xxx Approval of the Transaction % are only based on votes in favor of or against an agenda item 21
Slide 22: Agenda item 3 Any other business
Agenda item 3 Any other business 22
Slide 23: Agenda item 4 Closing
Agenda item 4 Closing EGON
Slide 24: The live presentation has concluded
The live presentation of the Extraordinary General Meeting of Shareholders has concluded. 24