Transform Tomorrow - Aegon

Americas• Underlying earnings before tax increased on strong business performance, partly offset byhigher performance related expenses• Operating expenses increased 4% as cost savings were more than offset by higherperformance related expenses and costs to support growth• New life sales increased 29% driven by indexed universal life sales as the product waslaunched into the brokerage channel last year and higher sales in anticipation of withdrawalof the universal life secondary guarantee single life product• Gross deposits in variable annuities, retail mutual funds, retirement plans and stable valuesolutions were all higher than the same period last year; variable annuity gross depositsincreased 3% despite continued product re-pricingUnderlying earningsbefore tax (USD million)Operating expenses(USD million)New life sales(USD million)Gross deposits(USD billion)426 431 443481430502148 1581916.78.0 8.6Q4 11 Q3 12 Q4 12Q4 11 Q3 12 Q4 12Q4 11 Q3 12 Q4 12Q4 11 Q3 12 Q4 1243