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AEGON operates a Currency Risk Policy under which direct currency speculation or program trading by country units is not allowed unless explicit approval has been granted by the Group Risk and Capital Committee. Assets should be held in the functional currency of the business written or hedged back to that currency. Where this is not possible or practical, remaining currency exposure is subject to documentation requirements 

and limits are placed on the total exposure at both group level and for individual country units. 

Information on AEGON’s 3-year historical net income / (loss) and shareholders’ equity in functional currency are shown in the table below: 

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The exchange rates for US dollar and UK pound per euro for each of the last five year-ends are set forth in the table below: 

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AEGON Group companies’ foreign currency exposure from monetary assets and liabilities denominated in foreign currencies is not material. 

The estimated approximate effects on net income and shareholders’ equity of movements in the exchange rates of AEGON’s non-euro currencies relative to the euro as included in the table below are due to the translation of subsidiaries and joint-ventures in the consolidated financial statements. 

