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

As NN Group announced on 14 February 2019, its shareholders were given the option to receive the final dividend for 2018 of EUR 1.24 per ordinary share either in cash or in ordinary shares.

Shareholders who have elected to receive the final dividend in shares will receive one NN Group N.V. ordinary share for every 28.51 ordinary shares held. The stock fraction is based on the volume-weighted average price of EUR 35.3572 for NN Group shares on Euronext Amsterdam for the five trading days from 12 June 2019 up to and including 18 June 2019. 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 41.1% of the outstanding number of shares have elected to receive the final dividend in ordinary shares. Consequently, 4,807,859 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 169 million, equivalent to the value of the stock dividend. These share buybacks will be executed by financial intermediaries under a share buyback programme which is expected to end no later than 31 December 2019. The shares will be repurchased at a price that does not exceed the last independent trade or the highest current independent bid on the relevant trading platform. The share buyback programme will be executed within the limitations of the existing authority granted by the General Meeting on 29 May 2019, 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, after deduction of statutory withholding tax if applicable, and the transfer of the new ordinary shares, and settlement of fractions in cash will take place on 25 June 2019. For further information.

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