March 2018 Aegon N.V. Responsible Investment Policy
To help people achieve a lifetime of financial security
Exclusions List, March 2018
Listed companies associated with controversial weapons
1. Aerojet Rocketdyne Holdings Inc. (United States) 9. National Presto Industries, Inc. (United States)
2. Ashot Ashkelon Industries Ltd. (Israel) 10. Norinco International Cooperation Ltd. (China)
3. China Aerospace International Holdings, Ltd. 11. North Navigation Control technology Co., Ltd (China) (China)
4. China Energine International Holdings Limited 12. Orbital ATK, Inc. (United States) (China) 13. Poongsan Corporation (South Korea) 5. China Spacesat Co., Ltd. (China) 14. Poongsan Holdings Corporation (South Korea) 6. General Dynamics Corporation (United States) 15. Textron (United States) 7. Hanwha Corporation (South Korea)
8. Motovilikhinskiye Zavody Pao (Russia)
Listed companies involved in thermal coal mining
1. Acacia Coal Ltd. (Australia) 17. Foresight Energy L.P (United States)
2. Adani Enterprises Limited (India) 18. Guizhou Panjiang Refined Coal Co., Ltd. (China)
3. Adani Power Limited (India) 19. Hallador Energy Company (United States)
4. Alliance Resource Partners, L.P. (United States) 20. Hidili Industry International Development Limited (China) 5. Alpha Natural Resources, Inc. (United States) 21. Indo Tambangraya Megah Tbk PT (Indonesia) 6. Arch Coal, Inc. (United States) 22. Inner Mongolia Yitai Coal Co., Ltd. (China) 7. Banpu Public Company Limited (Thailand) 23. Jastrzebska Spolka Weglowa SA (Poland) 8. China Coal Energy Company Limited (China) 24. Kuzbasskaya Toplivnaya Kompaniya Pao (Russia) 9. China Shenhua Energy Company Limited (China) 25. Lubelski Wegiel Bogdanka SA (Poland) 10. Cloud Peak Energy Inc. (United States) 26. New Hope Corporation Limited (Australia) 11. CNX Coal resources LP (United States) 27. New World Resources Plc (United Kingdom) 12. Coal India Limited (India) 28. Peabody Energy Corporation (United States) 13. Coal of Africa Limited (Australia) 29. Pingdingshan Tianan Coal. Mining Co., Ltd. (China) 14. Consol Energy Inc. (United States) 30. PT Adaro Energy Tbk (Indonesia) 15. Datong Coal Industry Co., Ltd. (China) 31. PT Bumi Resources Tbk (Indonesia) 16. Exxaro Resources Limited (South Africa) Aegon N.V. Responsible Investment Policy 2
32. PT Harum Energy Tbk (Indonesia) 38. Westmoreland Coal Company (United States)
33. PT United Tractors Tbk (Indonesia) 39. White Energy Company Limited (Australia)
34. Sasol Limited (South Africa) 40. Whitehaven Coal Ltd. (Australia)
35. Semirara Mining Corporation (Philippines) 41. Yancoal Australia Ltd. (Australia)
36. Shanghai Datun Energy Resources Co., Ltd. 42. Yang Quan Coal Industry (Group) Co., Ltd. (China) (China) 43. Yanzhou Coal Mining Company Limited (China) 37. Shanxi Lu’an Environmental Energy Development Co., Ltd. (China)
Listed companies involved in tobacco production
1. 22nd Century Group Inc. (United States) 20. Fabrika Duhana Sarajevo (Bosnia-Herzegovina)
2. Al – Eqbal Investment Co. PLC. (Jordan) 21. Godfrey Philips India Limited (India)
3. Alliance One International Inc. (United States) 22. Golden Tobacco Ltd (India)
4. Altria Group Inc. (United States) 23. Gotse Delchev Tabac AD (Bulgaria)
5. British American Tobacco Plc (United Kingdom) 24. Hrvatski Duhani dd (Croatia)
6. British American Tobacco (Malysia) Berhad 25. Huabao International Holdings Limited (China) (Malysia) 26. Imperial Brands Finance Plc (United Kingdom) 7. British American Tobacco Bangladesh Co Ltd. (Bangladesh) 27. Imperial Brands Plc (United Kingdom)
8. British American Tobacco Kenya Ltd. (Kenya) 28. ITC Ltd (India)
9. British American Tobacco Uganda Ltd. (Uganda) 29. Japan Tobacco Inc (Japan)
10. British American Tobacco Zimbabwe Holdings 30. Jerusalem Cigarette Co Ltd (Palestine) Ltd. (Zimbabwe) 31. Karelia Tobacco Company Inc SA (Greece) 11. British American Tobacco Vranje a.d. Vranje 32. Khyber Tobacco Company Ltd (Pakistan) 12. Bulgartabac Holding AD (Bulgaria) 33. KT&G Corporation (South Korea) 13. Ceylon Tobacco Company Plc (Sri Lanka) 34. Nicotiana BT Holding AD (Bulgaria) 14. Cong Ty Co Phan Ngan Son (Vietnam) 35. NTC Industries Ltd (India) 15. CTO Public Company Ltd (Cyprus) 36. Pakistan Tobacco Company Ltd (Pakistan) 16. Duvanska industrija ad Bujanovac (Serbia) 37. Philip Morris (Pakistan) Ltd (Pakistan) 17. Duvanska Industrija Čoka (Serbia) 38. Philip Morris CR as (Czech Republic) 18. Duvanski Kombinat ad Podgorica u stecaju (Montenegro) 39. Philip Morris International Inc. (United States)
19. Eastern Co SAE (Egypt) Aegon N.V. Responsible Investment Policy 3
40. Philip Morris Operations a.d. Nis (Serbia) 52. Swedish Match AB (Sweden)
41. PT Bentoel Internasional Investama Tbk 53. Tanzania Cigarette Co Ltd (Tanzania) (Indonesia) 54. West Indian Tobacco Company Ltd 42. PT Gudang Garam Tbk (Indonesia) (Trinidad and Tobago)
43. PT Hanjaya Mandala Sampoerna Tbk (Indonesia) 55. Turning Point Brands Inc (United States)
44. Reynolds American Inc (United States) 56. Tutunski Kombinat AD Prilep (Macedonia)
45. Scandinavian Tobacco Group A/S (Denmark) 57. Union Tobacco and Cigarette Industries Company PSC (Jordan) 46. Schweitzer-Mauduit International, Inc ( United States) 58. Universal Corporation (United States)
47. Shanghai Industrial Holdings Limited (China) 59. Vector Group Ltd (United States)
48. Shumen Tabac AD (Bulgaria) 60. Virat Crane Industries Ltd (India)
49. Sinnar Bidi Udyog Ltd (India) 61. VST Industries Ltd (India)
50. Slantse Stara Zagora Tabak AD (Bulgaria) 62. Wismilak Inti Makmur Tbk PT (Indonesia)
51. Societe Ivoirienne des Tabacs SA (Ivory Coast)
Countries (government bonds and other government debt)
1. Belarus 8. North Korea
2. Central African Republic 9. Somalia
3. Democratic Republic of Congo 10. Sudan
4. Eritrea 11. South Sudan
5. Iran 12. Syria
6. Libya 13. Zimbabwe
7. Myanmar