❏ OUR GOVERNANCE ❏ REPORT OF THE SUPERVISORY BOARD Oversight and advice Supervisory Board meetings and activities Attendance Corporate governance The Supervisory Board is entrusted with the task of supervising  and advising the Executive Board on its management of the  company as well as overseeing AEGON’s strategy and the general  course of its businesses. In performing their duties, members of the Supervisory  Board are guided by the interests of AEGON and the  company’s stakeholders. The Supervisory Board is a  separate corporate body, independent of the Executive  Board. The Supervisory Board currently consists of ten  members (for further details on the individual members  of AEGON’s Supervisory Board, please see pages 61 to 63).  The Supervisory Board makes recommen dations to the  General Meeting of Shareholders concerning all  appointments and reappointments and dismissals from  both the Executive Board and the Supervisory Board  itself. In addition, the Supervisory Board determines the  remuneration of individual members of the Executive  Board in line with the Remuneration Policy as adopted  by the company’s General Meeting of Shareholders. Details of AEGON’s corporate governance structure and  a summary of the company’s compliance with the  Dutch Corporate Governance Code may be found on  pages 74 to 75 of this Annual Report. In 2008, the  capital agreement with the Dutch State prompted certain  changes to AEGON’s corporate governance structure.  As part of the agreement, the Dutch State now has two  representatives on the company’s Supervisory Board.  Until AEGON has repurchased 3/4 of the core capital  securities, approval from these representatives is  required for certain decisions$^{ 1}$, including: A full report on AEGON’s compliance with the  Dutch Corporate Governance Code is available on  www.aegon.com.  In 2010, discussions within AEGON’s Supervisory Board  focused on the following issues, among others: Meetings of the Supervisory Board’s committees were  usually held before the meetings of the full Supervisory  Board. Members of AEGON’s Executive and Management  Boards attended all Supervisory Board meetings held in  2010. Other company executives also attended the  meetings at the request of the Supervisory Board to  update it on various subjects. Representatives from  Ernst & Young, AEGON’s external auditor, attended the  discussions on the company’s results.  In accordance with AEGON’s Supervisory Board Rules, all  regular meetings in 2010 were preceded by preparatory  meetings, attended by the Chairman, the Vice Chairman  of the Supervisory Board and, from time to time, the  Chairman of the Audit Committee, as well as by the Chief  Executive Officer and Chief Financial Officer from the  company’s Executive Board.  In 2010, the Supervisory Board held a total of seven  regular meetings and several additional conference call  meetings. No members of the Supervisory Board were  frequently absent from these meetings. All regular  meetings were either preceded or followed by closed  meetings not attended by members of the Executive or  Management Board. ■ The issuance and repurchase of shares and  debentures. ■ Changes to the company’s Remuneration Policy. ■ Any acquisitions or divestments with a value of 25%  or more of AEGON’s issued capital and reserves. ■ Strategy and Group Plan, including the strategic  priorities ■ Budget and Capital Plan 2011 ■ Quarterly results ■ European Commission approval process of the capital  agreement with the Dutch State ■ Finance and accounting ■ Risk management 1 With the repurchase completed in March 2011, 3/4 of the core capital securities has now been repurchased by AEGON.