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presented to the meeting were adopted. During the meeting, CEO Alex Wynaendts set out details of the company’s strategy and efforts to focus AEGON on long- term opportunities for growth in its main markets. 

## New reporting format 

In May, AEGON introduced a new reporting format to bring its financial reporting more in line with the way the company manages its businesses. Under the new format, AEGON reports underlying earnings and other results primarily by the following segments: 

■ Americas (which includes AEGON’s businesses in the United States, Canada, Mexico and Brazil) 

■ The Netherlands 

■ United Kingdom 

■ New Markets (which encompasses AEGON’s operations in Asia, Central & Eastern Europe, Spain, France, Variable Annuities Europe, as well as AEGON Asset Management) 

In addition, AEGON has continued to provide details of underlying earnings by line of business. The new format is designed to enhance transparency and reflect recent organizational changes in the company’s businesses. 

There were also a number of other modifications made to AEGON’s reporting format. Full details are available on AEGON’s website (www.aegon.com). 

## Shareholding structure 

AEGON’s common shares are mostly held by institutional shareholders such as pension or investment funds. 

These shareholders include Vereniging AEGON, the company’s largest shareholder. Vereniging AEGON owns 9.9% of AEGON’s common shares. Please see page 244 to 245 for further details. 

To AEGON’s knowledge, only one other party holds a capital and voting interest in AEGON N.V. in excess of 5%. According to its filing with the United States Securities and Exchange Commission on February 10, 2011, US-based investment management firm Dodge & Cox owns over 160 million shares, representing more than 5% of the issued share capital and voting rights in the company. 

## Shareholder base 2010 

AEGON has shareholders all over the world, but around 80% are located in the company’s main markets in North America, the Netherlands and the United Kingdom. 

Another 15% of AEGON’s shareholders are based elsewhere in Europe, mainly Germany, France, Norway and Switzerland. 

## Share listings 

AEGON’s common shares are listed on three stock exchanges. The company’s primary listing is in Amsterdam, but shares are also listed in London and New York. These listings give AEGON access to international capital markets and are a vital part of the company’s overall corporate and financial management strategies. AEGON delisted its common shares from the Tokyo Stock Exchange in March 2010 because the volume traded did not justify the related expense. In addition, AEGON is also active on world debt markets, and uses its strong credit rating to issue debt instruments in various currencies. 

## Dividend policy 

AEGON recognizes the importance of a clear, stable and coherent dividend policy. Dividend payments to shareholders depend on the company’s cash flow and capital position. The dividend is composed of two separate payments: 

■ An interim dividend, announced at the same time as the company’s second quarter results in August. 

■ A final dividend, proposed in February or March and voted on at the annual General Meeting of Shareholders in April or May. 

Payment of the interim and final dividends is made in either stock or cash. 

AEGON is not allowed to pay a dividend on its common shares until the core capital obtained from the Dutch State through Vereniging AEGON is fully repurchased. 

Consequently, AEGON did not declare an interim or propose a final dividend for 2010. 

AEGON has updated its dividend policy on February 24, 2011. 

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