Content Introduction

Local knowledge. Global power. 1

Local knowledge. Global power. 2

Content Introduction

Local knowledge. Global power. 3

Positioning AEGON

Local knowledge. Global power. 4

AEGON Strong Presence in CEE

1992

2003

2005

2005

2007

2008

Hungary

Slovakia

Czech Republic

Poland

Romania

Turkey

Local knowledge. Global power. 5

Growth of members (2002-2009) Growth of AuM (2002-2009)

AEGON’s AuM grew much faster (7 times) than the market's (4.5 times)

AEGON’s member base grew much faster (2 times) than the market's (1.2 times)

AEGON in Hungary - market leader position

• AEGON ranked 2nd in the mandatory and 3rd in the voluntary pension fund market• 803 THS members, combined assets of EUR 2.2 billion

7X7X

0100200300400500600700800900

2002 2003 2004 2005 2006 2007 2008 2009

2X2X

0

100

200

300

400

500

600

700

2002 2003 2004 2005 2006 2007 2008 2009

Local knowledge. Global power. 6

AEGON in Hungary - growing business

16%16% 20%20%

AEGON’s market share - members (2002-2009)

16%

20%

10%

20%

2002 2003 2004 2005 2006 2007 2008 2009

• 3 million MPT members • EUR 9.3 billion assets

Local knowledge. Global power. 7

Targeted Sales and Marketing Strategy

Local knowledge. Global power. 8

Recent trends

Local knowledge. Global power. 9

Part I: What happened during the crisis?

Local knowledge. Global power. 10

Part I: Much ado about nothing

Investment returns almost recover

AEGON’s performance (growth portfolio)

AEGON’s performance (growth portfolio)

-17%

23%

2%

-20%

-15%

-10%

-5%

0%

5%

10%

15%

20%

25%

2008

2009

NET

Local knowledge. Global power. 11

52 years old and older could return to PAYG

Time limit: December 31st 2009

Market: 69,000 members – 428 bill. EUR

AEGON: 14,000 members

Part I: Return to Pay As You Go

Local knowledge. Global power. 12

Part II: Falling Assets and PF Income

Local knowledge. Global power. 13

Part III: Unfavorable legislation: Lower PF Income

Local knowledge. Global power. 14

Part IV: The Transfer Market Sped Up

Local knowledge. Global power. 15

Part III: The numbers tell it all…

2,213

2,5112,655

2,7882,955 3,019

27 54 103 163 219

2,304 2,403

31 40 42

2002 2003 2004 2005 2006 2007 2008 2009

tho

us.

mem

ber

s

Market Transfers

o Almost 220,000 switching members in 2009o The ratio of transfers reached 7% in 2009o 8% is criticalo Brokers dictate conditionso Lower value entrants

Lapse Rate(2007-2009)

4X4X

Commission (2002-2009)

3X3X

7%

Local knowledge. Global power. 16

Part III: Protection and Regulation of AEGON

Local knowledge. Global power. 17

Part III: Governmental response – Transfer Limitations

Local knowledge. Global power. 18

Summary

Local knowledge. Global power. 19

Long Term stability in conditions

Local knowledge. Global power. 20

Q&A

For further questions please contact ludvai.judit@aegon.com