Core Viewpoint - Aegon (NYSE: AEG) is expected to see a positive stock price reaction following its Q3 performance, driven by a beat on free cash flow (FCF), operating capital generation (OCG), and a planned €250 million share buyback [1] Group 1 - The company reported strong performance metrics, particularly in free cash flow and operating capital generation [1] - Aegon is initiating further share buybacks amounting to €250 million, which is anticipated to positively influence stock prices [1]

Aegon Ltd. (NYSE:AEG) Q3 2024 Sales Call Transcript November 15, 2024 3:00 AM ET Company Participants Yves Cormier - Head of Investor Relations Lard Friese - CEO, Chairman of Management Board & Executive Director Duncan Russell - CFO & Member of Management Board Conference Call Participants Farooq Hanif - JPMorgan Nasib Ahmed - UBS Michael Huttner - Berenberg Benoit Petrarque - Kepler Farquhar Murray - Autonomous Iain Pearce - Exane BNP Paribas David Barma - Bank of America Jason Kalamboussis - ING Operator ...

Financial Data and Key Metrics - Operating capital generation for Q3 2024 was $336 million, driven by US businesses, with year-to-date generation exceeding EUR 900 million [5] - Full-year operating capital generation guidance increased to EUR 1.2 billion from the previous EUR 1.1 billion [5] - Cash capital at holding decreased to EUR 1.5 billion due to EUR 650 million returned to shareholders via dividends and share buybacks [7] - New share buyback program of EUR 150 million announced, expected to begin in January 2025 [7] - US RBC ratio decreased by 11 percentage points to 435% due to the termination of universal life policies [17] Business Line Performance - US new life sales decreased by 6% to EUR 112 million in Q3 2024, driven by lower index universal life sales [9] - Retirement plans business in the US saw net outflows of $373 million, primarily due to discontinuance of low-margin record-keeping plans [10] - UK Workplace platform recorded net deposits of GBP 865 million, while the Advisor Platform saw net outflows of GBP 960 million [11] - International new life sales decreased by 17% to EUR 65 million, with cyclical headwinds in Brazil and Spain [13] - Global Asset Management recorded third-party net deposits of EUR 2.8 billion, with assets under management increasing to EUR 324 billion [15] Market Performance - US business saw a 19% increase in licensed agents for World Financial Group, reaching over 82,000 agents [9] - UK platform assets under administration increased to GBP 112 billion, driven by favorable markets and net deposits [12] - China saw temporary higher sales ahead of regulatory pricing changes at the end of Q3 2024 [13] Strategy and Industry Competition - Company continues to execute its strategy to reduce exposure to financial assets in the US, with a target to reduce capital employed to $2.2 billion by 2027 [24] - Transformation of Transamerica remains on track, with a focus on increasing agent productivity and diversifying revenue streams [9] - Company plans to manage cash capital at holding down to the midpoint of the operating range (EUR 0.5 billion to EUR 1.5 billion) by the end of 2026 [8] Management Commentary on Operating Environment and Future Outlook - Management highlighted commercial volatility in Q3 but remains confident in achieving 2025 targets [30] - Company expects to achieve operating capital generation of EUR 1.2 billion in 2025 and free cash flow of EUR 800 million [28] - Management plans to provide an update on strategy and targets at the Capital Markets Day on December 10, 2025 [31] Other Important Information - Company completed the purchase of 41% of the $2.9 billion face value of institutionally owned universal life policies, achieving targeted investment hurdles [26] - Regulatory approvals for actuarially justified premium rate increases in long-term care now amount to $457 million, representing 55% of the target [25] Q&A Session Summary Question: Impact of US macro environment on capital reduction plans - Company’s capital reduction plans are mostly unilateral and bilateral, with limited reliance on third-party actions, making them largely within the company’s control [33][34] Question: Mortality experience variance and IFRS impact - Limited IFRS variances observed in Q3, with no significant impact from mortality experience [37] Question: Criteria for capital returns versus value creation - Company prioritizes investments that accelerate strategic progress and meet financial and non-financial criteria, with disciplined capital deployment [39][40] Question: US government strategies and WFG regulation - Company is well-positioned for potential regulatory changes, including the fiduciary rule, with a focus on best interest regulation [42][43] Question: Buyback program and capital reduction timeline - Company plans to reduce cash capital to EUR 1 billion by end of 2026, with EUR 150 million buyback program including EUR 40 million for share-based compensation [49][50] Question: OCG and free cash flow outlook for 2025 - Company maintains OCG guidance of EUR 1.2 billion for 2025, with new business strain expected to offset benefits from equity markets and reinvestment rates [56][78] Question: WFG agent productivity and activation program - WFG agent productivity is supported by a granular activation program, with newer agents receiving training and support to accelerate productivity [61] Question: US retirement plans competitiveness - Company is focused on improving retention and profitability in the retirement plans business, with strong written sales and a robust pipeline [82][83] Question: Inorganic growth and ASR stake - Company remains open to inorganic opportunities that align with its strategy, while maintaining a patient approach to its ASR stake [89][90]

Th aegon 3Q 2024 Trading Update Lard Friese Duncan Russell Chief Executive Officer Chief Financial Officer November 15, 2024 Key messages 2 ▪ EUR 336 million operating capital generation 1, now expecting FY 2024 operating capital generation of around EUR 1.2 billion ▪ Continued strong growth in UK Workplace and in third-party net deposits in Asset Management ▪ US Strategic Assets experience commercial volatility with lower new life sales and net outflows in retirement ▪ Lower new business volumes in Brazil ...

The Hague, November 15, 2024 - Please click here to access all 3Q 2024 trading update related documents.  EUR 336 million operating capital generation, before holding funding and operating expenses. Full-year 2024 guidance raised to around EUR 1.2 billion, from around EUR 1.1 billion previouslyCapital ratios of the main units remain above their respective operating levelsPlanned new EUR 150 million share buyback program announced; completion expected in the first half of 2025. The program includes neutraliz ...

The Hague, September 13, 2024 - Aegon today announces the appointment of Michele Bareggi as Chief Strategy, Transformation and Growth Officer, and member of Aegon’s Executive Committee, starting November 1, 2024. Michele succeeds Duncan Russell, who took on the role of Group CFO in September 2024. Mr. Bareggi brings over 25 years of experience in the financial services industry, including his tenure at Athora, a leading European savings and retirement services group. Mr. Bareggi has been instrumental in es ...

PoulssenAt the Lab, we have a long history of Aegon (NYSE:AEG), but we should remind our new readers that this company provides life insurance, asset management activities, and pension solutions. Aegon was funded in 1880 in The Hague (Netherlands) and served more than ten countries, with critical operations in the UK and the United States. Indeed, our investment equity story was backed by 1) the Transamerica division's upside, 2) a supportive Shareholders' Remuneration, and 3) a sound management team wi ...

Aegon Ltd. (NYSE:AEG) Q2 2024 Earnings Conference Call August 22, 2024 3:00 AM ET Company Participants Yves Cormier - Head of Investor Relations Lard Friese - Chief Executive Officer Matthew Rider - Chief Financial Officer Conference Call Participants David Barma - Bank of America Steven Haywood - HSBC Michael Huttner - Berenberg Farquhar Murray - Autonomous Nasib Ahmed - UBS Jason Kalamboussis - ING Farooq Hanif - JPMorgan Operator Good day and thank you for standing by. Welcome to Aegon First Half 2024 Re ...

Exhibit 99.1 Index Page Number Item 1: Condensed consolidated interim financial statements | Condensed consolidated income statement | 3 | | --- | --- | | Condensed consolidated statement of comprehensive income | 4 | | Condensed consolidated statement of financial position | 5 | | Condensed consolidated statement of changes in equity | 6 | | Condensed consolidated cash flow statement | 8 | | Notes to the condensed consolidated interim financial statements | 9 | Unaudited Aegon Ltd. Form 6-K for the six mon ...

The Hague, August 22, 2024 - Aegon today announces the appointment of Shawn C.D. Johnson as the new CEO of Aegon Asset Management (Aegon AM) and member of Aegon’s Executive Committee, effective September 23. Shawn succeeds Bas NieuweWeme, who has decided to leave to pursue career opportunities outside of Aegon. To enable a smooth transition, Bas will stay on as an advisor until December 1. Shawn brings a wealth of experience to Aegon AM, having most recently served as CEO of AMP Capital, an international in ...