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INDICATIVE COMPENSATIONS

Calculate your compensation levels

In line with the terms of the settlement agreement of 14 March 2016 wherein Ageas agreed to pay a global amount of EUR 1,204 million to ‘Eligible Shareholders’ covered by the settlement without admitting any wrongdoing, the Parties have filed a request with the Amsterdam Court of Appeal to declare the settlement binding in accordance with the Dutch Act on Collective Settlement of Mass Claims (Wet Collectieve Afwikkeling Massaschade, “WCAM”).
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Indicative compensation levels

The table below sets out indicative levels of compensation per share and per type of claim. To determine the different levels, the following four principles, already communicated on 14 March 2016, have been applied: (i) reference period of the shareholding, (ii) buyer/ holder, (iii) active/ non-active claimant and (iv) claim form (a form through which Eligible Shareholders can file a claim) compensation. Please note that all amounts published below are indicative only as they are based on an estimated number of units held by Eligible Shareholders requesting compensation. Only when the final number of units participating in the settlement is known i.e. at the end of the claim form submission period, will the final compensation amounts be determined.

Indicative compensation in EUR per Fortis Unit
PERIOD 1
(21/09/2007 O.O.B – 7/11/2007 C.O.B.)
PERIOD 2
(13/05/2008 O.O.B – 25/06/2008 C.O.B.)
PERIOD 3
(29/09/2008 O.O.B – 3/10/2008 C.O.B.)
Non-active claimants Compensation for Buyers of Fortis Units 0.38 0.85 0.25
Compensation for Holders of Fortis Units 0.19 0.43 0.13
Claim form add-on : EUR 0.5 per Fortis Unit with a maximum of EUR 200
Active claimants Compensation for Buyers of Fortis Units 0.56 1.28 0.38
Compensation for Holders of Fortis Units 0.28 0.64 0.19
Retail add-on : EUR 0.5 per Fortis Unit with a maximum of EUR 550 calculated on the highest number of shares held as Buyer and/or Holder in Period 1,2 or 3
Claim form add-on : EUR 0.5 per Fortis Unit with a maximum of EUR 400

Context

Shareholder X owned 3,000 Fortis Units prior to 21 September 2007, the start of period 1. He participated in the rights issue in October 2007 and bought an additional 2,000 Fortis units. Shareholder X did not perform any other transaction and was still holder of 5,000 Fortis Units at the end of the Relevant Period, i.e. after 3 October 2008.

For the purpose of calculating the level of compensation this implies that the 3,000 Fortis Units are considered as being “held” in period 1. The additional 2,000 Fortis Units bought are qualified as “bought” in period 1. In both period 2 and 3, the compensation amount will be based on 5,000 Fortis Units being “held”.

The shareholder joined one of the claimants’ organisations before 31 December 2014 and is therefore considered an “active claimant”.

Input

DATE Number of Fortis Units in your possession (close of business).
20/09/2007
07/11/2007
12/05/2008
25/06/2008
28/09/2008
03/10/2008

Outcome

For period 1, the compensation amount is partly based on the position held at the start of the Relevant Period, i.e. an amount of EUR 0.28 per share multiplied by 3,000 units or a total amount of EUR 840. With respect to the 2,000 units purchased, the compensation is calculated as EUR 0.56 per share multiplied by 2,000 units or a total amount of EUR 1,120. For period 2 and 3 the amounts received are based on the amounts per share foreseen for “holders” multiplied by 5,000 units or EUR 3,200 and EUR 950;

In addition, the shareholder is entitled to compensation in return for introducing a valid claims form. The compensation amount is topped at the maximum amount of EUR 400 as the number of shares held multiplied by EUR 0.5 per share exceeds the maximum amount. In addition, the shareholder will also receive an add-on as a retail shareholder of EUR 550, again this is the maximum amount as he exceeds the amount per share multiplied by the number of shares.

In total this shareholder will receive a compensation of EUR 7,060.

The table below provides the result according to the calculation methodology and taking into account the status of the units.

PERIOD 1
(21/09/2007 O.O.B – 7/11/2007 C.O.B.)
PERIOD 2
(13/05/2008 O.O.B – 25/06/2008 C.O.B.)
PERIOD 3
(29/09/2008 O.O.B – 3/10/2008 C.O.B.)
Estimated compensation based on the number of Fortis Units bought (2 000)
1 120
(0)
0
(0)
0
Estimated compensation based on the number of Fortis Units held (3 000)
840
(5 000)
3 200
(5 000)
950
Retail add-on 550
Claims Form add-on 400
Total estimated compensation subject to submitting a valid claim form and potential dilution or increase 7 060 €

Context

Shareholder Y owned 5,000 Fortis Units prior to 21 September 2007, the start of period 1 but well within the Relevant Period. He did not undertake any transaction during the Relevant Period, i.e. between 28 February 2007 close of business and 14 October 2008 close of business, and remained a loyal shareholder of Fortis, today Ageas.

For the purposes of calculating the level of compensation, this implies that the 5,000 Fortis Units are considered as being “held” in period 1, 2 and 3.

The shareholder did not join one of the claimants’ organisations before 31 December 2014, nor he launch a claim against Ageas. The shareholder is considered a non-active claimant.

Input

DATE Number of Fortis Units in your possession (close of business).
20/09/2007
07/11/2007
12/05/2008
25/06/2008
28/09/2008
03/10/2008

Outcome

The compensation will be based on the amounts foreseen for non-active claimants and more specifically the amount foreseen for “Holders”.

First of all, the individual can receive an amount of EUR 200 in return for introducing a valid claims form.

In addition, he will receive an amount of EUR 950, EUR 2150 and EUR 650 for period 1, 2 and 3 and based on the number of units held, i.e. 5,000, multiplied by respectively EUR 0.19, EUR 0.43 and EUR 0.13 per share.

In total this person will receive compensation of EUR 3,950.

The table below provides the result according to the calculation methodology and taking into account the status of the units

PERIOD 1
(21/09/2007 O.O.B – 7/11/2007 C.O.B.)
PERIOD 2
(13/05/2008 O.O.B – 25/06/2008 C.O.B.)
PERIOD 3
(29/09/2008 O.O.B – 3/10/2008 C.O.B.)
Estimated compensation based on the number of Fortis Units bought (0)
0
(0)
0
(0)
0
Estimated compensation based on the number of Fortis Units held (5 000)
950
(5 000)
2 150
(5 000)
650
Claims Form add-on 200
Total estimated compensation subject to submitting a valid claim form and potential dilution or increase 3 950 €

Context

Shareholder Z did not own any Fortis Units prior to 21 September 2007, the start of period 1 but well within the Relevant Period. However, he bought shares on several occasions during the various periods of the Relevant Period: 500 shares on October 10 2007 (Period 1), 500 shares on 15 December 2007 (in between Period 1 and 2), 500 shares on July 14 2008 (in between Periods 2 and 3 and finally 500 shares on October 2, 2008, i.e. inside Period 3.

For the purpose of calculating the level of compensation, this implies that the individual is a mix between a “Buyer” and a “Holder”. In practice, he is considered as a buyer of 500 units in Period 1, as a holder of 1,000 units in Period 2 and as a buyer of 500 units in Period 3 but at the same time as a holder of 1,500 units in Period 3.

The person joined one of the claimants’ organisations before 31 December 2014, and is therefore considered an active claimant.

Input

Date Number of Fortis Units in your possession (close of business).
20/09/2007
07/11/2007
12/05/2008
25/06/2008
28/09/2008
03/10/2008

Outcome

The compensation will be based on the amounts foreseen for active claimants and within this category the buyers and holders compensations by share within this category are used for the respective periods.

First of all, the individual can receive an amount of EUR 400 in return for introducing a valid claims form. He will also be entitled to the retail add-on of EUR 550.

For period 1, he will receive an amount of EUR 280 which is the result of EUR 0.56 per share multiplied by 500 shares. For period 2, he will receive an amount of EUR 640, the result of EUR 0.64 per share multiplied by 1,000 shares. For period 3 he will receive an amount of EUR 190 related to the shares bought and EUR 285 related to the shares held.

In total this person will receive compensation of EUR 2,345.

The table below provides the result according to the calculation methodology and taking into account the status of the units

PERIOD 1
(21/09/2007 O.O.B – 7/11/2007 C.O.B.)
PERIOD 2
(13/05/2008 O.O.B – 25/06/2008 C.O.B.)
PERIOD 3
(29/09/2008 O.O.B – 3/10/2008 C.O.B.)
Estimated compensation based on the number of Fortis Units bought (500)
280
(0)
0
(500)
190
Estimated compensation based on the number of Fortis Units held (0)
0
(1 000)
640
(1 500)
285
Retail add-on 550
Claims Form add-on 400
Total estimated compensation subject to submitting a valid claim form and potential dilution or increase 2 345