NN Group to sell Dutch residential real estate portfolio to Vesteda

Today, NN Group announces that it reached a final agreement with Dutch residential real estate investor Vesteda regarding the sale of a Dutch residential real estate portfolio of 6,777 units for a total consideration of approximately EUR 1.5 billion. Completion of the transaction is expected before the end of June 2018.

Vesteda acquires a portfolio that consists of 5,983 existing residential units and 794 units in development projects, both part of the former residential real estate portfolio of Delta Lloyd. The purchase price will be paid approximately 75% in participation rights in the Vesteda fund and 25% in cash. As a result of the transaction a capital gain of approximately EUR 80 million will be recognised as a non-operating item in the second quarter of 2018. The transaction will not have a material impact on the capital position and operating result of NN Group.

NN Group profile
NN Group is an international financial services company, active in 18 countries, with a strong presence in a number of European countries and Japan. With all our employees, the Group offers retirement services, pensions, insurance, investments and banking to approximately 17 million customers. NN Group's main brands are Nationale-Nederlanden, NN, Delta Lloyd, NN Investment Partners, ABN AMRO Insurance, Movir, AZL, BeFrank and OHRA. NN Group is listed on Euronext Amsterdam (NN).

Important legal information
Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation: (1) changes in general economic conditions, in particular economic conditions in NN Group's core markets, (2) changes in performance of financial markets, including developing markets, (3) consequences of a potential (partial) break-up of the euro, (4) changes in the availability of, and costs associated with, sources of liquidity as well as conditions in the credit markets generally, (5) the frequency and severity of insured loss events, (6) changes affecting mortality and morbidity levels and trends, (7) changes affecting persistency levels, (8) changes affecting interest rate levels, (9) changes affecting currency exchange rates, (10) changes in investor, customer and policyholder behaviour, (11) changes in general competitive factors, (12) changes in laws and regulations, (13) changes in the policies of governments and/or regulatory authorities, (14) conclusions with regard to accounting assumptions and methodologies, (15) changes in ownership that could affect the future availability to us of net operating loss, net capital and built-in loss carry forwards, (16) changes in credit and financial strength ratings, (17) NN Group's ability to achieve projected operational synergies and (18) the other risks and uncertainties contained in recent public disclosures made by NN Group.

Any forward-looking statements made by or on behalf of NN Group speak only as of the date they are made, and, NN Group assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.

This document does not constitute an offer to sell, or a solicitation of an offer to buy any securities.