NN N : AGM 2024 full presentation, incl. voting results

Annual general meeting

NN Group N.V.

24 May 2024

Agenda item 1

Opening

2

Issued shares and voting rights

• On Record Date, 26 April 2024, the issued capital of NN Group consisted of 285 million ordinary shares
• No votes can be cast on 11,864,297 ordinary shares as those shares were held by NN Group on Record Date
• Consequently, a total of 273,135,703 votes are eligible for casting

3

Voting instructions

• To participate, please go to

web.lumiagm.com

• Fill in the meeting ID: 168-254-177, your username and password

4

Agenda item 2

2023 Annual Report

5

Our operating environment

Geopolitical tensions

Unit-linked

Digital customer experience	Protection products

Customer satisfaction

Climate change

6

Customers, employees and our contribution to society

NPS Int

NPS international businesses above market average

Below	On par	Above
average		average

NPS NL

NPS Netherlands businesses on par market average

Below	On par	Above
average		average

7.810.8bn

Employee engagement		Investments in climate
		solutions in 2023
31 Dec 23	7.8	EUR 10.8bn
31 Dec 22	7.9

40%		401K
Women in senior management positions	People reached via NN programmes
		to support their well-being
31 dec 23	40%	401K
31 dec 22	40%

7

Our roadmap to net-zero greenhouse gas emissions (GHG)

8

Final settlement for the unit-linked issue achieved

Deal terms

• NN reached a settlement with all interest groups involved in legal proceedings against NN with respect to unit-linked products

• • Settlement relates to all unit-linked products sold by Dutch subsidiaries of NN Group
• All legal proceedings initiated by the interest groups will be discontinued once the settlement is executed1
• • Settlement is subject to a 90% acceptance rate of affiliated policyholders that have received an individual proposal for compensation

Financial ingredients

• Settlement involves EUR ~300m
• A EUR ~360m provision was recognised in 4Q23 to cover the settlement costs
• • Includes EUR 60m2 for hardship cases and customers unaffiliated with one of the interest groups who have not previously received compensation
• Settlement follows earlier measures adopted by NN, including previous compensation rounds, of EUR ~1bn

Residual risk significantly mitigated

• No new proceedings can be initiated by involved interest groups and their representatives
• Unaffiliated customers may seek compensation via NN desk, or new proceedings before Kifid or Dutch courts
• Residual risk is considered limited given a.o. considerable measures taken over time to compensate policyholders

1. Anticipated ultimately 30 June 2025
2. In addition, approximately EUR 20m is available for these customers through the remainder of a provision recognised as part of the 2008 settlement

9

Strong performance of our business

1,902m 2,528m 1,410m

Operating capital generation	Operating result		Free cash flow
FY23	EUR 1,902m	FY23	EUR 2,528m	FY23	EUR 1,410m
FY22	EUR 1,711m	FY22	EUR 2,350m	FY22	EUR 1,269m

1,172m 197%

Net result		Solvency ratio
FY23	EUR 1,172m	31 dec 23	197%
FY22	EUR 1,634m	31 dec 22	197%

10