NN Group announces stock fraction for 2018 interim dividend and repurchase of shares to neutralise stock dividend

As NN Group announced on 16 August 2018, its shareholders were given the option to receive the interim dividend for 2018 of EUR 0.66 per ordinary share either in cash or in ordinary shares.

Shareholders who have elected to receive the interim dividend in shares will receive one NN Group N.V. ordinary share for every 56.21 ordinary shares held. The stock fraction is based on the volume-weighted average price of EUR 37.1015 for NN Group shares on Euronext Amsterdam for the five trading days from 28 August 2018 up to and including 3 September 2018. Any remaining stock fractions will be paid in cash. The stock and cash dividend are approximately equal in value. For shareholders that have not made a choice during the election period, the dividend will be paid in cash.

Shareholders representing approximately 42.8% of the outstanding number of shares have elected to receive the interim dividend in ordinary shares. Consequently, 2,566,901 new ordinary shares will be issued as stock dividend.

NN Group will neutralise the dilutive effect of the stock dividend through the repurchase of ordinary shares for a total amount of EUR 95 million, equivalent to the value of the stock dividend. These share buybacks will be executed by financial intermediaries under an open market share buyback programme which is expected to end by 31 December 2018. The shares will be repurchased at a price that does not exceed the last independent trade or the highest current independent bid on Euronext Amsterdam. The share buyback programme will be executed within the limitations of the existing authority granted by the General Meeting on 31 May 2018, and will be performed in compliance with the safe harbour provisions for share buybacks.

NN Group intends to cancel all of the repurchased shares acquired under the programme. NN Group will report on the progress of the share buyback programme on its corporate website on a weekly basis.

Payment of the dividend in cash and settlement of fractions in cash, after deduction of statutory withholding tax if applicable, and the transfer of the new ordinary shares will take place on 10 September 2018. For further information: Dividend policy and dividend history.

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