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6-K

Aegon Ltd. (AEG)

6-K 2026-04-28 For: 2026-04-28
View Original
Added on April 28, 2026

Securities and ExchangeCommission

Washington, D.C. 20549

Form 6-K

Report of Foreign Issuer

Pursuant to Rule 13a-16 or 15d/16

of the Securities Exchange Act of 1934

April 2026

Aegon Ltd.

Aegon Limited Statutory seat Principal place of business Bermuda Registrar of Companies number: 202302830
An exempted company with liability Canon’s Court World Trade Center (September 30, 2023)
limited by shares 22 Victoria Street Schiphol Boulevard 223 Dutch Chamber of Commerce number: 27076669
Hamilton HM 12 1118 BH Schiphol Aegon Limited is a non-resident company under the Dutch
www.aegon.com Bermuda The Netherlands Act Non Residential Companies

The Unaudited Pro Forma Consolidated Financial Information and notes thereto of Aegon Ltd. (the “Company”) herein are hereby incorporated by reference in the Company’s Registration Statements under the Securities Act of 1933, as amended, on Form F-3 (Registration No. 333-287291, 333-287291-01) and on Form S-8 (Registration Nos. 333-238186, 333-196156, 333-183176, 333-157843, and 333-150774).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Aegon Ltd.
(Registrant)
Date: April 28, 2026 By /s/ S. Knol
S. Knol
Director Financial Reporting & Operations

Unaudited pro forma consolidated financial information of Aegon Ltd. relating to the

proposed sale of the Aegon UK plc

As ofDecember 31, 2025 and for the years ended December 31, 2025, 2024 and 2023

Introductory paragraph

The unaudited pro forma consolidated financial information presented below illustrates the financial impact on Aegon Ltd.’s (Aegon) consolidated statement of financial position as of December 31, 2025 and consolidated income statements for the years ended December 31, 2025, 2024 and 2023 of the proposed sale of Aegon UK plc (“Aegon UK”) containing the UK insurance and pensions operations to Standard Life Plc (“Standard Life”), a publicly traded company on the London stock exchange, that was announced on April 15, 2026. In connection with such sale, Aegon will receive GBP 750 million in gross cash proceeds and a 15.3% shareholding in Standard Life ordinary shares, with associated governance rights. Any remittances taken out of Aegon UK between the signing and closing of the transaction will be deducted from the GBP 750 million cash amount. Aegon’s asset management activities in the UK will remain part of Aegon’s global asset manager and will be an important asset management partner for the new combined business.

The transaction is expected to close around the end of 2026, subject to customary conditions, including regulatory approvals. The assets and liabilities of Aegon UK will be classified, for purposes of Aegon’s 1H 2026 consolidated financial statements, as held for sale. Related result will be presented as results from discontinued operations.

The unaudited pro forma consolidated financial information below complies with Article 11 of Regulation S-X and illustrates the impact of the proposed sale of Aegon UK on Aegon’s consolidated statement of financial position as of December 31, 2025 and Aegon’s consolidated income statements for the years ended December 31, 2025, 2024 and 2023. The unaudited pro forma consolidated statement of financial position has been prepared as if the sale had been consummated as of December 31, 2025. The unaudited pro forma consolidated income statements have been prepared as if the sale had been consummated as of January 1 of the respective years.

Historical financial information contains Aegon Ltd.’s audited consolidated financial information as presented in the Annual Report on Form 20-F 2025. The pro forma adjustments represent the financial impact of the proposed sale as described above. Pro forma adjustments are consistent with Aegon’s applicable financial reporting framework disclosed in the Annual Report 2025 on Form 20-F and with its accounting policies.

In each case, the pro forma data financial information is presented for illustrative purposes only and should not be relied upon as an indication of the financial condition or the operating results that would have been achieved if the Sale had taken place on the specified dates. In addition, future results may vary significantly from the results reflected in such pro forma financial information data and should not be relied on as an indication of future results.

Further information on the pro forma adjustments can be found in the notes to this unaudited pro forma financial information.

Unaudited pro forma Consolidated Income Statements of Aegon Ltd.

For the year ended December 31, 2025 For the year ended December 31, 2024 For the year ended December 31, 2023
Amounts in EUR millions (except per share data) Note Historical Pro formaadjustments Pro formafinancialinformation Historical Pro formaadjustments Pro formafinancialinformation Historical Pro formaadjustments Pro formafinancialinformation
Continuing operations
Insurance revenue 9,097 422 8,675 9,841 543 9,298 10,386 663 9,722
Insurance service expenses (9,423) (183) (9,239) (9,790) (302) (9,487) (10,226) (406) (9,820)
Net income / (expenses) on reinsurance held 836 (1) 837 325 (28) 353 182 (61) 243
Insurance service result **** 1 **** 511 **** 238 **** 272 **** 376 **** 213 **** 163 **** 342 **** 197 **** 145
Interest revenue on financial instruments calculated using the effective interest method 2,683 27 2,657 2,720 32 2,688 2,738 25 2,713
Interest income from instruments measured at FVPL 615 389 226 637 355 282 737 397 340
Other investment income 1,198 1,188 11 1,340 1,329 10 1,283 1,272 11
Results from financial transactions 15,632 6,965 8,667 11,593 4,196 7,398 12,302 3,992 8,310
Impairment (losses) / reversals (46) - (46) (190) - (190) (86) - (86)
Insurance finance income / (expenses) (20,227) (8,645) (11,582) (16,506) (5,945) (10,561) (17,650) (5,737) (11,913)
Net reinsurance finance income / (expenses) on reinsurance held 564 (4) 568 611 (19) 630 699 6 693
Interest expenses (135) - (135) (171) - (171) (218) - (218)
Insurance net investment result **** 2 **** 285 **** (81) **** 366 **** 34 **** (53) **** 87 **** (196) **** (45) **** (151)
Interest revenue on financial instruments calculated using the effective interest method 636 37 600 605 44 562 599 33 566
Interest income from instruments measured at FVPL 217 129 88 186 108 78 89 89 -
Other investment income 825 821 5 729 721 8 550 546 4
Results from financial transactions 10,065 6,032 4,033 7,634 4,280 3,354 6,929 3,267 3,663
Impairment (losses) / reversals (22) - (22) (47) - (47) (33) - (33)
Investment contract income / (expenses) (11,372) (6,994) (4,378) (8,781) (5,130) (3,651) (7,851) (3,896) (3,955)
Interest expenses (18) 1 (19) (32) (1) (31) (45) (3) (42)
Other net investment result **** 3 **** 331 **** 26 **** 306 **** 294 **** 22 **** 272 **** 238 **** 36 **** 203
Interest charges (178) - (178) (190) - (190) (182) - (182)
Financing net investment result **** (178) **** - **** (178) **** (190) **** - **** (190) **** (182) **** - **** (182)
Total net investment result **** 438 **** (55) **** 493 **** 139 **** (31) **** 169 **** (139) **** (9) **** (130)
Fees and commission income 2,390 311 2,079 2,378 283 2,096 2,163 214 1,949
Other operating expenses (2,928) (392) (2,536) (2,961) (378) (2,583) (3,000) (311) (2,689)
Other income / (charges) 130 10 120 145 52 93 (57) 4 (61)
Other result **** (408) **** (70) **** (337) **** (438) **** (44) **** (394) **** (894) **** (93) **** (801)
Result before share in profit / (loss) of joint ventures, associates and tax **** 541 **** 113 **** 428 **** 77 **** 139 **** (62) **** (691) **** 95 **** (785)
Share in profit / (loss) of joint ventures 303 - 303 238 - 238 196 - 196
Share in profit / (loss) of associates 200 - 200 345 - 345 103 - 103
Result before tax from continuing operations **** 1,045 **** 113 **** 932 **** 660 **** 139 **** 521 **** (391) **** 95 **** (486)
Income tax (expense) / benefit (65) (32) (32) 16 (16) 32 209 (23) 232
Net result from continuing operations **** 4 **** 980 **** 81 **** 900 **** 676 **** 123 **** 553 **** (182) **** 72 **** (254)
--- --- --- --- --- ---
2024 2023
Pro forma financialinformation Historical Pro forma financialinformation Historical Pro forma financialinformation
Basic earnings per common share ( per share)
Basic earnings per common share B ( per share)

All values are in Euros.

Notes to the unaudited pro forma Consolidated income statement adjustments

1. Adjustments to ’Insurance service result’

Adjustments to Insurance service result reflect the elimination of the Insurance revenue and Insurance service expenses of Aegon UK. Insurance revenue mainly comprises expected insurance claims / expenses and CSM release; and Insurance service expenses mainly comprises the actual insurance claims / expenses.

2. Adjustments to ’Insurance net investment result’

Adjustments to Insurance net investment result reflect the elimination of the Insurance net investment result of Aegon UK. Insurance net investment result mainly comprises share dividends received by Aegon UK (Other investment income); fair value changes on Aegon UK’s investments (Results from financial transactions); and the Insurance finance expenses attributable to Aegon UK’s insurance contracts.

3. Adjustments to ’Other net investment result’

Adjustments to Other net investment result reflect the elimination of the other net investment result of Aegon UK. Other net investment result mainly comprises of fair value changes on Aegon UK’s investments related to investment contracts (Results from financial transactions); and the Investment contract expenses attributable to Aegon UK’s investment contracts portfolio.

4. Adjustments to ’Net result from continuing operations’

Adjustments to Net result from continuing operations reflect the elimination of Aegon UK’s net result and includes inter-segment results between continuing Aegon Group entities and Aegon UK which are expected to discontinue.

Unaudited pro forma Consolidated statement of financial position of Aegon Ltd.

As of December 31, 2025
Amounts in EUR millions Note Historical Pro forma adjustments Pro forma financialinformation
Cash and cash equivalents **** 5 2,733 623 3,357
Investments **** 5 285,141 (123,599) 161,542
Derivative assets 485 (48) 438
Investments in joint ventures 1,566 - 1,566
Investments in associates 2,638 - 2,638
Reinsurance contract assets 17,153 (1) 17,152
Insurance contract assets 18 - 18
Defined benefit assets 95 (95) -
Reimbursement rights 28 - 28
Deferred tax assets 1,894 (69) 1,826
Deferred expenses and rebates 452 (14) 438
Other assets and receivables **** 8 4,508 (1,190) 3,318
Intangible assets 519 (132) 387
Total assets **** 317,233 **** (124,525) **** 192,709
Shareholders’ equity **** 6 7,432 1,119 8,551
Other equity instruments 1,978 - 1,978
Issued capital and reserves attributable to owners of Aegon Ltd. **** 9,410 **** 1,119 **** 10,529
Non-controlling interests 85 - 85
Group equity **** 9,495 **** 1,119 **** 10,614
Subordinated borrowings 1,461 - 1,461
Trust pass-through securities 99 - 99
Reinsurance contract liabilities 195 (4) 191
Insurance contract liabilities **** 7 176,067 (44,705) 131,363
Investment contract liabilities with discretionary participation features **** 7 21,281 (21,269) 12
Investment contracts without discretionary participation features **** 7 97,814 (58,644) 39,170
Derivative liabilities 1,469 (184) 1,285
Borrowings 1,982 - 1,982
Provisions 97 (9) 88
Defined benefit liabilities 507 - 507
Deferred revenue liabilities 5 (5) -
Deferred tax liabilities 13 (23) (10)
Other liabilities **** 8 6,445 (731) 5,714
Accruals 303 (70) 233
Total liabilities **** 307,738 **** (125,644) **** 182,094
Total equity and liabilities **** 317,233 **** (124,525) **** 192,709

Notes to the unaudited pro forma Consolidated statement of financial position adjustments

5. Adjustments to ’Cash and cash equivalents’ and to ’Investments’

Adjustments to Cash and cash equivalents of EUR 623 million represent the cash consideration to be received from Standard Life at the closing of the transaction (EUR 859 million) which is partially offset by the elimination of Aegon UK’s cash amount (EUR 200 million) and an estimate of the cost to be incurred by Aegon to sell the Aegon UK business (EUR 36 million).

Adjustments to Investments of EUR 123,599 million reflect the elimination of Aegon UK’s investments (EUR 125,128 million) partially offset by the share consideration to be received from Standard Life at the closing of the transaction.

Proceeds millions millions
Cash
Shares
Total

All values are in British Pounds.

For the purpose of these unaudited pro forma numbers the 181 million shares to be received is multiplied by the GBP 7.37 closing stock price of Standard Life’s shares at the London stock exchange on December 31, 2025. FX conversion rate used is 0.8727, the EUR/GBP closing rate on December 31, 2025.

6. Adjustments to ’Shareholders’ equity’

Adjustments to Shareholders’ equity of EUR 1,119 million reflect the receipt of the expected net consideration from the proposed transaction amounting to EUR 2,353 million offset by the derecognition of Aegon UK from Aegon’s consolidated statement of financial position for an amount of EUR 1,234 million.

7. Adjustments to ’Insurance contract liabilities’ and to ’Investment contract liabilities with / without<br>discretionary participation features’

Adjustments to ’Insurance contract liabilities and to Investment contract liabilities with / without discretionary participation features reflect the elimination of Aegon UK’s insurance contract liabilities and investment contract liabilities. These liabilities mainly consist of Platform, Packaged and Annuities related contracts.

8. Adjustments to ’Other assets’ and to ’Other liabilities’

Adjustments to Other assets and to Other liabilities reflect the elimination of Aegon UK’s other assets and other liabilities.