Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

SECTION 1.2

Description of the concentration

1.1. The present concentration consists of the change of sole control over Popular Vida 2020, Compañía de Seguros y Reaseguros, S.A.U.("Popular Vida" or "PV") by Banco Santander, S.A. ("Banco Santander", and, jointly with its subsidiaries the "Santander Group") to joint control by Aegon España, S.A.U. de Seguros y Reaseguros ("Aegon España", a subsidiary of Aegon N.V. "Aegon") and Banco Santander, with the exception of the PV's business line related to life insurance (the "Proposed Transaction").

2.2. PV is currently a company exclusively controlled by Banco Santander that is present in the market for the provision of life-insurance products and services in Spain.

3.3. Upon completion of the Proposed Transaction, Banco Santander and Aegon will have joint control over PV.

Information on the Parties:

• Banco Santander is a Spanish bank and the parent company of an international group of banking and financial companies operating principally in Spain, the United Kingdom, other European countries, Latin America and the United States/Puerto Rico.

• Aegon is the parent company of a group of insurance companies and is listed in Amsterdam and New York. Aegon's activities include asset management, insurance, pension and related products; and it is active worldwide, mainly in the United States, the Netherlands and the United Kingdom. Aegon is active in Spain through Aegon España, which is active in the life insurance and non-life insurance (including accident and health insurance) sectors. In particular, Aegon España commercialises health and life insurance as well as saving and investment insurance products. It also participates in certain bancassurance joint venture agreements with other Spanish savings banks.

2 • PVis active in the life-insurance market in Spain. Its main distribution channel is the commercial network of Banco Santander (including the offices of the former network of Grupo Banco Popular, today part of Banco Santander).

1 Formerly Allianz Popular Vida, Compañía de Seguros y Reaseguros, S.A.U.

2 Formerly Allianz Popular Vida, Compañía de Seguros y Reaseguros, S.A.U.

Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË

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