NN Group Issues Update on Shareholder Options/Dividend

Update from NN Group on shareholder options;

As announced on 17 February 2022, NN Group shareholders were given the option to receive the final dividend for 2021 of EUR 1.56 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 29.43 ordinary shares held. The stock fraction is based on the volume-weighted average price of EUR 45.9117 for NN Group shares on Euronext Amsterdam for the five trading days from 2 June 2022 up to and including 8 June 2022. 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 46.53% of the outstanding number of shares have elected to receive the final dividend in ordinary shares. Consequently, 4,757,115 ordinary shares will be delivered from NN Group treasury shares.

NN Group will neutralise the dilutive effect of the stock dividend through the repurchase of ordinary shares for a total amount of EUR 218 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 August 2022. 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 19 May 2022, and will be performed in compliance with the safe harbour provisions for share buybacks. NN Group intends to cancel any repurchased NN Group shares under the programme unless used to cover obligations under share-based remuneration arrangements or to deliver stock dividend.

This programme is in addition to the existing share buyback programmes for a total amount of EUR 1.0 billion that were announced on 17 February 2022. NN Group reports on the progress of the share buyback programmes on its corporate website on a weekly basis.

Payment of the dividend in cash, after deduction of withholding tax if applicable, or payment of the dividend in the form of ordinary shares, as well as settlement of fractions in cash will take place on 15 June 2022.

For further information: dividend policy and dividend history