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Aegon announces offering of USD 500 million of 8.00% non-cumulative subordinated notes due 2042

The Hague, January 25, 2012

Aegon announces the pricing of an offering of USD 500 million of 8.00% non-cumulative subordinated notes due 2042 in an underwritten public offering in the United States registered with the U.S. Securities Exchange Commission (SEC).

As part of the offering, Aegon has granted the underwriters a 30-day option to purchase up to an additional USD 75 million of notes to cover over-allotments. If this option is exercised in full, the gross proceeds of the offering will be USD 575 million.

The notes will bear interest at a fixed rate of 8% and will not be cumulative and are priced at 100% of their principal amount. The coupon may be cancelled under certain circumstances. The notes will be issued in denominations of USD 25. Application will be made to list the notes on the New York Stock Exchange (NYSE). The offering is expected to be settled on January 31, 2012 and the notes are expected to be admitted for trading on the NYSE within 30 days thereafter. The proceeds from the issuance of the notes will be used for general corporate purposes.

The joint book-runners for the offering of the notes are BofA Merrill Lynch, Citigroup, Morgan Stanley and Wells Fargo Securities. A prospectus may be obtained from BofA Merrill Lynch at 4 World Financial Center, New York, NY 10080, Attention: Prospectus Department or e-mail: dg.prospectus_requests@baml.com. A prospectus may also be obtained for free by visiting the SEC website at http://www.sec.gov.