The Hague, May 21, 2014

Annual General Meeting of Shareholders Aegon N.V.

Jaarlijkse Algemene Vergadering van Aandeelhouders Aegon N.V.

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Welcome to the Annual General Meeting of Shareholders

Welkom op de jaarlijkse Algemene Vergadering van Aandeelhouders

In order to hear a simultaneous translation into English, please choose channel 2

Voor het beluisteren van een simultaanvertaling in het

Nederlands kiest u kanaal 1

3

Rob Routs

Chairman Supervisory Board

Voorzitter Raad van Commissarissen

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Opening

Agenda item 1 / Agendapunt 1

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Presentation on the course of business in 2013

Presentatie over de gang van zaken in 2013

Agenda item 2 / Agendapunt 2

Executing on our strategy

Alex Wynaendts, CEO & Chairman of the Executive Board

The Hague, May 21, 2014

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Focus on executing our strategy is delivering clear results

2013 Strong performance Higher underlying earnings Strong capital position and ratings Increased dividend

Executing on strategic transformation Getting closer to our customers Expanded digital capabilities Enhanced distribution

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AA- financial

strength rating

EUR 1.9

billion

Strong underlying earnings before tax

0

140

340

2011 2012 2013

More cash allocated to dividends (EUR millions)

Strong excess capital position

EUR 2.2

billion

Solvency ratio: 212%

All numbers on this slide refer to full year 2013 or end-year 2013 data

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Aegons purpose is to help people take responsibility for their financial future

across their life cycle

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Building trust and creating benefits in 2013

Paid out 20 billion in claims and benefits to our customers

Impact investments of

3 billion

Invested 6.3 million in local communities

around the world

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Global trends support Aegons businesses

Aging leads to significant demand for our products globally

Source: Population Division of the Department of Economic and Social Affairs of the United Nations Secretariat

68.6 79.6

51

75.1

71.9 81.7

44.6

76

69.4 83.1

1950

2015

Life expectancy at birth in 1950 and in 2015 (in years; overall: male + female)

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Executing on our strategic objectives

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Optimize portfolio Successful repositioning of Spanish business

* Depending on the performance of the partnership, after 5 years an additional amount may be paid

Divestiture of existing joint ventures Strategic partnership with Spains largest financial group

Spanish divestments generated over EUR 1 billion

Continued partnership with Liberbank

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Operational excellence Disciplined focus on cost efficiency supports strategic investments

Cost reductions allow for increased investments without materially increasing total expenses

Cost reduction programs

Consolidation from 13 to 3 divisions in the Americas

Shared service center in the Americas for additional efficiencies

Completed two-year cost reduction program in NL

Extensive transformation program in UK

Restructuring and deleveraging at holding

Strategic investments to respond to our customers changing needs

Technology continues to change customer

behavior

Committed to providing products and services customers need

Customers seek different distribution channels New online channels to engage customers Redesigned intermediary capability

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Loyal customers Technology continues to change customer behavior

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Loyal customers Customers are more willing to go online

17 17

Loyal customers Extension of successful UK platform with direct-to-consumer proposition

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Loyal customers Customers are seeking a wider range of distribution channels

Spain Turkey

India Brazil

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64 67

70

2011 2013 2014

Empower employees

Employee engagement and customer commitment closely linked

63 67

69

2011 2013 2014

Engagement Enablement High performing norm 2014

Financial services norm 2014

73

64

70

65

NB: Both graphs refer to Aegons overall 2014 Global Employee Survey results

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Sustainability is at the heart of our strategy

Capital Talent Expertise Trust Benefits Profits Society

Pricing and product development policy puts customer first

Dow Jones Sustainability Index (DJSI) performance confirms our actions

Aegon ranked Silver Class in the DJSI just behind the sector leader

Various key policies established

Volunteer hours for employees Sustainable procurement policy Health and safety statement

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2014

Further executing on our strategy

Aegon well positioned to capture

opportunities

Looking ahead

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Presentation on the course of business in 2013

Presentatie over de gang van zaken in 2013

Agenda item 2 / Agendapunt 2

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Annual Report 2013

Jaarverslag 2013

Agenda item 3.1 / Agendapunt 3.1

Financial strategy supports strategic transformation

Darryl Button, CFO & Member of the Executive Board

The Hague, May 21, 2014

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Aegon performed strongly in 2013

1,544 1,851 1,945

2011 2012 2013

887 1,582

849

2011 2012 2013

2011 2012 2013

3,420 3,177 3,328

2011 2012 2013

* Total sales consist of new life sales, new premiums accident & health, general insurance and 1/10 of gross deposits

Underlying earnings before tax (As reported; EUR million)

Sales MCVNB

Net income (EUR million)

Operating expenses (EUR million)

Sales* and MCVNB (As reported; EUR million)

5,701 6,725 7,151

422

986

Adjusted expense levels

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Earnings up 5% Continued business growth Higher equity markets Partly offset by weaker US dollar

Lower net income

Positive: Higher gains on investments Lower impairments Lower tax charges

Negative: Losses on equity hedges in place

to protect capital position Losses due to adjustments in

market assumptions

Increased underlying earnings not reflected in net income due to hedging costs

1,544 1,851 1,945

2011 2012 2013

887 1,582

849

2011 2012 2013

Underlying earnings before tax (As reported; EUR million)

Net income (EUR million)

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Strong capital position and cash flows

1.2 1.6

1.3

2011 2012 2013

6.7 7.4 7.4

2011 2012 2013

1.2 2.0 2.2

2011 2012 2013

195% 228% 212%

2011 2012 2013

Operational free cash flows (Excl. market impacts; EUR million)

Return on equity

Solvency ratio (Insurance Group Directive, IGD)

Excess capital at the holding (EUR billion)

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Local balance sheets well capitalized

Target

Buffer

US UK NL

Floor

New capital management framework implemented in 2013

US and the Netherlands strongly capitalized and paying dividends

to the holding

UK capital position significantly improved after GBP 300 million

contribution from the holding

Capital levels (End of 2013)

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2013 operational free cash flows in target range of EUR 1.3 - 1.6 billion

Operational free cash flows paid out as dividend to the holding

Americas and the Netherlands expected to remain stable; UK cash flows to increase New Markets contributing to increasing operational free cash flow going forward

Operational free cash flows: dividends to holding & strengthening of local capital

2013 Americas 0.8 Netherlands 0.3 United Kingdom 0.1 New Markets 0.1 Total normalized operational free cash flow 1.3 Market impacts & one-time items 0.2 Operational free cash flow 1.5

2013 Americas 0.9 Netherlands 0.5 United Kingdom 0.0 New Markets 0.1 Dividend paid by units 1.5

Strong cash flows at the units (EUR billion)

translate into dividends to the holding (EUR billion)

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How excess capital was put to use

Excess capital in 2013 (EUR billion)

2.0 1.5 0.6 (0.5) (0.4) (0.4) (0.4) 2.2

Excess capital January 1, 2013

Net dividends received from business units

Acquisitions & divestments

Investments in business units

Common & preferred dividends

Cancellation of preferred

shares

Funding & operating expenses

Excess capital December 31,

2013

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Capital management results in Lower funding costs Improving cash flows Increasing return on equity

Leverage ratio and fixed charge coverage on track to reach 2014 objectives

Active capital management improves financial flexibility

8.7

~6.8

34.4%

~30.0%

Q1 13 Q4 13 Q1 14 2014 target

* Interest expense on f inancial leverage and preferred dividends; 2013 restated to reflected earnings impact of DAC and longevity accounting changes ** Gross leverage ratio reflects shareholders equity adjusted for DAC and longevity accou