3Q 2025 Trading Update Lard Friese Duncan Russell Chief Executive Officer Chief Financial Officer November 13, 2025 2 2 Key messages 1. Before Holding funding and operating expenses ▪ EUR 340 million operating capital generation1 on track to meet the OCG target of around EUR 1.2 billion for 2025 ▪ Growing the distribution network and maintaining strong commercial momentum with increased life sales in the US ▪ Net outflows in the UK platform business due to departure of two large, low-margin workplace scheme ...

Financial Performance - The company's operating result increased by 19% to EUR 845 million, driven by business growth and improved experience variance[4] - Operating capital generation (OCG) reached EUR 576 million, putting the company on track to meet its EUR 1.2 billion guidance for 2025[4] - Free cash flow amounted to EUR 442 million, contributing to a cash capital at Holding of EUR 2.0 billion[4] - The group solvency ratio stands at 183%[24] Capital Allocation - The ongoing share buyback program was increased from EUR 200 million to EUR 400 million[4] - An interim dividend of EUR 0.19 per common share was announced, an increase of EUR 0.03 over the 2024 interim dividend[4] Strategic Initiatives - A review is being initiated on a potential relocation of the company's legal domicile and head office to the United States, where Americas share in Aegon Group's financials is 60%[4, 5] Business Segment Performance - In the Americas, new individual life sales increased by 13% due to growth in IUL sales in WFG and a successful product launch in the brokerage channel[11] - Net deposits in mid-sized Retirement Plans in the Americas were supported by a larger takeover deposit from a pooled plan[11] - UK Workplace platform saw net deposits of EUR 2.1 billion, while the Adviser platform experienced net deposits of EUR (1.4) billion[14] - Third-party net deposits in Asset Management's Global Platforms decreased from EUR 5.1 billion to EUR 2.0 billion, driven by alternative fixed income products in 1H25[18] Americas Financial Assets Strategy - Financial Assets actual-to-expected claim ratio is 97%[56] - Financial Assets net face value is 100% or USD 45.1 billion[56]