Recent news highlights Aegon's strategic initiatives including share buybacks, CEO term extension, and relocation plans, alongside market activity and valuation discussions.

• Aegon began a EUR 227 million share buyback in January 2026, part of a EUR 400 million program announced in December 2025, with participation from its largest shareholder [N2].
• The Board proposed extending CEO Lard Friese's term until 2030 to ensure leadership continuity during the company's relocation to the US and strategic transformation [S2].
• Aegon is relocating its legal domicile and head office to the United States and plans to rename as Transamerica, reflecting a strategic shift [N2].
• Recent market commentary discusses Aegon's valuation and compares it with peers, highlighting investor interest and stock activity [N3][N6][N7].
• Aegon shares crossed below the 200-day moving average in February 2026, indicating recent stock price movement [N7].

Aegon's strategic relocation to the US and rebranding as Transamerica could enhance its market focus and operational efficiency. The extension of CEO Lard Friese's term signals leadership stability to execute transformation plans. The company's diversified portfolio across geographies and product lines, combined with active capital management including share buybacks, supports value creation. Its focus on sustainability and ESG may improve stakeholder engagement and long-term resilience. Favorable claims experience and dynamic hedging in variable annuities contribute to financial stability.

Aegon faces risks from geopolitical and economic uncertainties in key markets including Bermuda, US, UK, and the Netherlands. Regulatory changes, including solvency and ESG requirements, may increase compliance costs and capital demands. Operational risks such as cyberattacks and IT disruptions could affect business continuity. The relocation of legal domicile and head office involves execution risks and potential regulatory hurdles. Market volatility and changes in customer behavior may impact product profitability and investment portfolio performance. Integration of acquisitions and divestitures carries execution risks.

Aegon's moat derives from its diversified global footprint across multiple insurance and asset management markets, established joint ventures and partnerships, and a broad product portfolio spanning investment, protection, and retirement solutions. Its scale and presence in key markets like the US and UK, combined with strategic shareholdings and a global asset management platform, provide competitive advantages. The company's ongoing transformation and capital management initiatives aim to strengthen its market position. However, the financial services industry faces significant regulatory, market, and operational risks that can impact competitive positioning.

• Geopolitical and Economic Risks: Operations are exposed to political tensions, civil unrest, and economic conditions in Bermuda, US, UK, and other markets.
• Regulatory and Compliance Risks: Changes in insurance solvency requirements, ESG regulations, and accounting policies may affect capital adequacy and profitability.
• Operational Risks: System disruptions, cyberattacks, data breaches, and failures in operational controls could damage reputation and financial results.
• Execution Risks Related to Relocation: The planned relocation of legal domicile and head office to the US involves uncertainties in timing, regulatory approvals, and operational impacts.
• Market and Investment Risks: Volatility in credit, equity, and interest rates, as well as changes in customer behavior, can affect investment portfolio performance and product earnings.

• Aegon Ltd. is an international financial services holding company with a portfolio including fully owned businesses in the United States and United Kingdom, a global asset manager, insurance joint ventures in Spain & Portugal, China, and Brazil, and asset management partnerships in France and China.
• Aegon owns a Bermuda-based life insurer and holds a strategic shareholding in a Dutch insurance and pensions company.
• The company is headquartered in Schiphol, the Netherlands, domiciled in Bermuda, and listed on Euronext Amsterdam and the New York Stock Exchange.
• Aegon's business model focuses on investment, protection, and retirement solutions.
• As of December 31, 2025, Aegon reported cash and cash equivalents of EUR 2.733 billion and short-term investments of EUR 7.294 billion.
• For the fiscal year ended December 31, 2025, Aegon reported net income of EUR 980 million and basic earnings per share of EUR 0.59.
• The company has an ongoing share buyback program, including a EUR 227 million tranche started in January 2026, part of a EUR 400 million total announced in December 2025.
• Aegon's Board of Directors proposed extending CEO Lard Friese's term until 2030, emphasizing leadership continuity during the company's relocation to the US and strategic transformation.
• Aegon is undertaking a relocation of its legal domicile and head office to the United States and plans to be renamed Transamerica.
• The company faces risks including economic and geopolitical conditions in key markets (Bermuda, US, UK, Netherlands), financial market volatility, regulatory changes including solvency and ESG requirements, operational risks such as cyberattacks and IT disruptions, and uncertainties related to the relocation and integration of acquisitions and divestitures.
• Aegon's operating capital generation and earnings on in-force are influenced by product mix, currency movements, and claims experience, with recent quarters showing some favorable non-recurring items and market impacts.
• The company is actively managing its variable annuities portfolio with a dynamic hedge program to reduce equity market exposure.
• Aegon has a focus on sustainability and ESG, aiming to have a positive impact on environmental and societal issues as a global investor and employer.