Aegon announces determination of the coupon rate for Perpetual Capital Securities

The Hague, July 17, 2023 - Aegon today announces that a coupon rate of 3.93894% has been determined for the USD Perpetual Capital Securities (ISIN: NL0000116168) (the Securities). The coupon rate, which was determined in accordance with the provisions described in conditions 5(c) and 5(e) of the terms and conditions of the Securities, will be applicable to the coupon period that begins on
July 15, 2023 and ends on October 15, 2023.

Due to the cessation of USD LIBOR, the calculation agent was unable to determine the 10-year USD LIBOR ICE swap rate or to obtain the 10-year USD LIBOR swap rate quotations required to calculate an alternative comparable swap rate. Subsequently, the trustee has determined the coupon rate for the next coupon period on the basis of the USD SOFR spread-adjusted ICE swap rate as published by ICE Benchmark Administration, which is in line with the methodology suggested by the Alternative Reference Rates Committee (ARRC) in its white paper. The resulting coupon rate is the aggregate of (i) the 10-year USD SOFR ICE swap rate as of July 13, 2023, (ii) a spread adjustment of 0.28694% and (iii) a credit spread of 0.10%. The spread adjustment is based on the fallback formula proposed by the ARRC, and the aggregate of (i) and (ii) is equal to the USD SOFR spread-adjusted ICE swap rate.

Contacts

Media relations	Investor relations
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About Aegon
Aegon is an international financial services holding company. Aegon’s ambition is to build leading businesses that offer their customers investment, protection and retirement solutions. Its portfolio of businesses includes fully owned subsidiaries in the US, UK and a global asset manager. In addition, Aegon has partnerships in Spain & Portugal, Brazil, and China, which create value by combining strong local partners with Aegon’s international expertise. In the Netherlands, Aegon generates value via a strategic shareholding in a market leading insurance and pensions company.