AEG · Aegon N.V.

Aegon Ltd. is divesting its UK insurance and pensions operations through Aegon UK plc to Standard Life Plc, receiving GBP 750 million in cash (EUR 859 million) and 181 million shares representing a 15.3% stake valued at EUR 1,529 million based on December 31, 2025 closing prices. This transaction, announced on April 15, 2026, is anticipated to close by year-end 2026 pending regulatory approvals and customary conditions. The pro forma adjustments eliminate Aegon UK's contributions, reflecting derecognition of EUR 125,128 million in investments, EUR 44,705 million in insurance contract liabilities, and other related items, partially offset by the net proceeds of EUR 2,353 million, boosting shareholders' equity by EUR 1,119 million to EUR 10,529 million. Total assets shrink significantly to EUR 192,709 million from EUR 317,233 million. On the income statement, pro forma net result from continuing operations improves to EUR 900 million in 2025 (historical EUR 980 million), EUR 553 million in 2024 (historical EUR 676 million), and a reduced loss of EUR 254 million in 2023 (historical EUR -182 million), with basic EPS at EUR 0.54, 0.30, and -0.16 respectively. Aegon's UK asset management will remain within its global operations, serving as a partner to the combined entity. Aegon UK will be presented as discontinued operations, with assets held for sale in 1H 2026 statements. This divestiture streamlines Aegon's portfolio, enhances capital position, and refocuses on core operations, though future results may differ from pro forma illustrations.