Company: AEGOF
Filing Date: 2025-05-16
Form Type: 6-K
Source: 0001193125-25-121246
Chunk: 2

Company: AEGON LTD.
Filing Date: 2025-05-16
Form: 6-K
Chunk 2
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 in aggregate, resulting in a recurring OCG in the range of the guidance of USD 200 to 240 million per quarter. Earnings on in-forcedecreased by 2%, with business growth and USD 14 million of favorable non-recurringexpense variances offset by unfavorable claims experience. In Protection Solutions, the increase of earnings on in-forcewas driven by growth in Individual Life, and was partly offset by USD 12 million unfavorable mortality and morbidity claims experience, mainly in the workplace business. In Savings & Investments, earnings on in-forceremained stable as growth in Retirement Plans was offset by lower contributions from the Stable Value Solutions line of business. The Distribution business segment showed a small decrease of earnings on in-forcefrom investments in the business. Earnings on in-forcefrom Financial Assets decreased to a loss of USD 35 million, mainly driven by unfavorable mortality experience of USD 65 million from a higher number of claims, especially from old age policies, in Universal Life. Morbidity claims experience in Financial Assets was largely in line with expectations. Release of required capital is driven by the run-offof Financial Assets and a growing Strategic Assets book. New business strain was in line with the guidance of around USD 200 million per quarter. Compared to the first quarter of 2024, new business strain increased by 2% driven by growth in Individual Life and Retirement Plans, partly offset by a net positive new business strain from growth in RILA. 10

The increase of Strategic Assets OCG was on balance driven by business growth and was partly offset by a higher new business strain. Financial Assets OCG decreased by 6% mainly driven by a more unfavorable mortality claims experience in this reporting period compared with the first quarter of 2024, which was partly offset by a positive new business strain. Cash Capital at Holding and free cash flow

| Aegon Ltd.                             |     |       |     |         |       |   |     |         |       |   |     | unaudited |      |    |
| Cash Capital at Holding                |     |       |     |         |       |   |     |         |       |   |     |           |      |    |
| EUR in millions                        |     | Notes |     | 1Q 2025 |       |   |     | 1Q 2024 |       |   |     | %         |      |    |
| Beginning of period                    |     |       |     |         | 1,725