Delta Lloyd announces successful sale and pricing of its shareholding in Van Lanschot - Seite 2

The Offering

Delta Lloyd N.V., Delta Lloyd Levensverzekering N.V. and Delta Lloyd Schadeverzekering N.V. ("Delta Lloyd") have successfully sold 11,272,729 Offer DRs representing ordinary shares in Van Lanschot N.V. at the Offer Price of €16.00 per Offer DR.

The total number of Offer DRs allotted pursuant to the Offering (excluding any Additional DRs) equals approximately 27.4% of Van Lanschot's issued share capital. The final offering size may be increased by up to 1,127,271 depositary receipts in case of exercise of the over-allotment option, exercisable until July 8, 2016. The gross proceeds for Delta Lloyd amount to €180.4 million, which would increase to €198.4 million if the over-allotment option would be exercised in full.

The Offering is part of Delta Lloyd's broader plan of management actions and capital measures to ensure Delta Lloyd's solvency position is strengthened as it transitions into the new Solvency II regime, effective from 1 January 2016. The net proceeds from the Offering will deliver a c. 8%point addition to
Delta Lloyd's solvency ratio, which will then be at 162% on a pro-forma basis (as at Q1 2016), assuming the over-allotment option would be exercised in full.

The Offering consisted of an offering to certain institutional and retail investors in the Netherlands and a private placement to certain qualified institutional investors in various other jurisdictions pursuant to Regulation S under the US Securities Act of 1933 as amended (the "US Securities Act") and in the United States to qualified institutional buyers pursuant to Rule 144A under the US Securities Act.

Following closing of the Offering, Delta Lloyd will hold a stake representing approximately up to 2.7% in the share capital of Van Lanschot if the over-allotment option is not exercised in full, and will no longer have an interest in the share capital of Van Lanschot if the over-allotment option is exercised in full.

In connection with the Offering, Van Lanschot and Delta Lloyd have committed to a lock-up for a period of 90 days from the settlement date, subject to customary carve outs and waiver by the Joint Global Coordinators.

Goldman Sachs International and UBS Investment Bank acted as Joint Global Coordinators and Joint Bookrunners for the Offering, and BofA Merrill Lynch and ABN AMRO acted as Joint Bookrunnners for the Offering (collectively, the "Joint Bookrunners"). Kempen & Co and Kepler Cheuvreux acted as Co-Lead Managers for the Offering.