IMPORTANT: Please activate your online Retiready …

1 Aegon Annuity Transfer Team, Edinburgh ParkEdinburgh Park, EdinburghEdinburgh EH12 9SE. EH12 9SE. Our ref: RLP1. Phone: 03456 015 299. UK Freephone 019S110D10446000001 +44 (0) 131 666 8681. from overseas Mr Andrew Sample Sample Street Email: Sample Town Sample County SA1 1AS. Web: March 2017. important : Dear Policyholder Please activate yourPolicy online number: Retiready Pol_1 account Proposed transfer of Scottish Equitable plc's annuity business Here's some important information about your annuity policy, Please read it carefully. There's more information online at Summary of the has now been transferred to Retiready . However, we can see from our records that you haven't proposals line Retiready account .

2 Apologies for contacting you again if you've done this recently. If not, ou activateAsyour part of a strategic account as soon asreview of our business, Aegon, the parent possible: It's proposed to transfer company of Scottish Equitable plc has decided to exit the annuity your annuity to a new market. Annuities haven't been a key market for Aegon since 2010 and provider, Rothesay Life plc ow in four easy steps its decision to leave the annuity market entirely will allow Aegon to on 30 June 2017. focus on the continued growth of its pre-retirement product offering. If, having read the information in this letter As a result of this review Scottish Equitable plc has agreed to sell and you have any questions or ur unique customer ID xxxxxxxxxxxxxx and National Insurance number.

3 Transfer a significant part of its annuity business, including your policy concerns, or wish to object above confirm ur email address, to Rothesay Life plc your personal (Rothesay). details and set upRothesay was your security established in questions. Please contact us using any 2007 and is a UK regulated insurance company making pension of the contact details n send you payments of over an email asking you billion to verify your a year It's details. from over 26. important billion you do this toof insurance above. contracts. e the activation of yourRothesay account . has become one of the leading specialist providers of insurance solutions in the UK market for annuities. Rothesay is The timing and amount of your annuity payments will authorised by the Prudential Regulation Authority (PRA) and regulated not be affected by the elp by the Financial Conduct Authority (FCA) and the PRA.

4 You can find out AGN11_S_D10446_010317_SAMPLE_RLP_453220\ 000001\1\1of8\. transfer. more by visiting ions about Retiready , or activating your account , you can chat to us online at Any contractual guarantees r UK-based team The a call on transfer proposed 03456 100requires 072. High Court approval and Scottish you have will continue and Equitable plc has applied to the High Court to formally transfer certain the terms and conditions of sing Retiready . your policy won't change as policies, including your policy above, from Scottish Equitable plc to a result of the transfer. Rothesay. The information in this letter relates to the proposed transfer of the policies to Rothesay. At the time of the agreement to sell and The proposals have been transfer the annuity business to Rothesay, Scottish Equitable plc reviewed by an reinsured the annuity business with Rothesay.

5 Further details of this Independent Expert and his reinsurance arrangement is included in the Questions and conclusions are Answers below. summarised in this letter. on UK. The application to the Court was made on 17 February 2017 and we're There's more detailed information about the now notifying our affected policyholders that we're proposing to transfer in this letter and transfer their policy to Rothesay. You have the right to object to these on our website at tish Equitableplc ish Equitable proposals plc ( ). (No. SC144517)andifAegon and youInvestment Aegon feel you Investment Solutionsmay Solutions Ltd(No. Ltd be disadvantaged. ( ). SC394519) registeredininScotland, registered Details Scotland,registered registered office: office: of how Edinburgh Edinburgh to Park, Park, do EH12.

6 Edinburgh Edinburgh EH12 9SE. 9SE. ableplc able plcisisauthorised authorisedbybythe thePrudential PrudentialRegulation RegulationAuthority Authorityand andregulated regulatedbyby the the Financial Financial Conduct Conduct Authority Authority and and thethe Prudential Prudential Regulation Regulation Authority. Authority. ed andregulated d and regulatedsobybyare the provided theFinancial FinancialConduct below. ConductAuthority. Authority. TheirFinancial Their Financial Services Services Register Register numbers numbers areare 165548. 165548 andand 543123. 543123 respectively. respectively. 2015. 2016 Aegon Aegon UKUK. plcplc 1. If you have more than one annuity policy transferring to Rothesay, or a with-profits policy, you'll receive more than one letter.

7 Please read all letters carefully as not all policies are impacted in the same way. If anyone else has an interest in your policy, for example if it's jointly owned, or if there are joint or contingent beneficiaries ( a spouse) for an annuity, or if your policy has been assigned, Please share this letter and the accompanying Questions and Answers with them and make them aware of their right to raise an objection. How the proposed transfer will affect you The transfer won't affect the terms and conditions of your annuity policy. There will be no changes to your benefit levels, payment timings or frequency and the basis of any escalations that apply to your policy will stay the same. You won't need to make any changes or take any action in relation to your policy as a result of the transfer.

8 If the transfer is approved: Rothesay will become the provider of your annuity policy and be responsible for making any payments due under the terms of your policy. Payments will continue to be made as before, including the timing and the amount of the payments due. your policy will retain the same policy number, as above. Rothesay will become responsible for the servicing of your policy from the date of the transfer and they'll write to you with new contact details which you should use for all future correspondence or queries. If you do have any questions about any of the information in this letter, or your policy generally, you can still contact us until the transfer date. You'll see references to Rothesay on any correspondence, including payments, you'll get after the transfer date which is expected to be on 30 June 2017.

9 Further information is provided in the Questions and Answers at the end of this letter. How you are protected The proposed transfer process protects policyholders in a number of ways to make sure that they're not materially adversely affected. The protections include: the appointment of an Independent Expert who reports on the effects of the transfer on policyholders a summary of his conclusions is included later in this letter;. ongoing review by our regulators, the FCA and the PRA, until the proposed transfer date;. advance notification of the proposed transfer to affected policyholders (this letter);. your right to object to the proposed transfer if you consider that you may be disadvantaged by the carrying out of the transfer; and High Court approval the transfer proposals will be heard at the High Court of Justice, Chancery Division, the Rolls Building, Fetter Lane, London EC4A 1NL on 12 June 2017.

10 The Court will consider the views of policyholders, the Independent Expert and the regulators before reaching a decision on whether to approve the proposed transfer. In addition to the above protections, the Chief Actuary and the With-Profits Actuary of Scottish Equitable plc, together with the Chief Actuary of Rothesay have each written their own reports on AGN11_S_D10446_010317_SAMPLE_RLP_453220\ 000001\2\2of8\. the effects of the proposed transfer on the companies and on policyholders. You can access their full reports by visiting our website at Details of the proposed transfer are contained in a legal document called the Scheme' and we've summarised key information about the Scheme in this letter and in the Questions and Answers below.