Aviva : to Commence Share Buy-back*

25 May 2017

AVIVA TO COMMENCE SHARE BUY-BACK

Aviva plc (Aviva) announces thatit will commence a share buy-back of Aviva's ordinary shares for up to a maximum consideration of £300 million.

Aviva has entered into a non-discretionary agreement with Morgan Stanley to enable the purchase of Aviva ordinary shares by Morgan Stanley, acting as principal, during the period running from 25 May 2017 and ending no later than 15 December 2017, for an aggregate purchase price of up to £300 million. Shares acquired by Morgan Stanley under the agreement will be simultaneously on-sold to Aviva. To the extent permitted by law, such ordinary shares purchased will be cancelled.

Any purchase of Aviva ordinary shares contemplated by this announcement will be carried out on the London Stock Exchange and Multilateral Trading Facilities, as defined by the Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments, and executed in accordance with (and subject to the limits prescribed by) Aviva's general authority to repurchase ordinary shares granted by its shareholders on 10 May 2017 and Chapter 12 of the Financial Conduct Authority's Listing Rules.

*This Announcement Contains Inside Information

Enquiries:

Media

Nigel Prideaux +44 (0)20 7662 0215

Andrew Reid +44 (0)20 7662 3131

Analysts

Chris Esson +44 (0)20 7662 8115

Diane Michelberger +44 (0)20 7662 0911

Notes to editors:

· Aviva's LEI code is YF0Y5B0IB8SM0ZFG9G81

· Aviva provides life insurance, general insurance, health insurance and asset management to 33 million customers.

· In the UK we are the leading insurer serving one in every four households and have strong businesses in selected markets in Europe, Asia and Canada. Our shares are listed on the London Stock Exchange and we are a member of the FTSE100 index.

· Aviva's asset management business, Aviva Investors, provides asset management services to both Aviva and external clients, and currently manages over £340 billion in assets. Total group assets under management at Aviva group are £450 billion.

· Aviva helps people save for the future and manage the risks of everyday life; we paid out £34.4 billion in benefits and claims in 2016.

· By serving our customers well, we are building a business which is strong and sustainable, which our people are proud to work for, and which makes a positive contribution to society.

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