Open letter from Mark Wood to Adrian Grace

Dear Mr. Grace:

As per Aegon’s public statement dated 9 February, 2018, and distributed to PensionBee and journalists, on behalf of the Board of Directors of PensionBee Limited and as Chairman of that Board, I confirm that the following statements are accurate and true:

1)

PensionBee captures clear authority from clients to carry out transfers and

2)

PensionBee provides appropriate warnings and information to customers to ensure they understand any features within their current policy which will not be replicated within the PensionBee pension.

Given we have provided the assurances you have requested, under my signature, I trust that electronic transfers will now recommence without further delay.

Yours faithfully

Mark Wood