Voya Financial Increases Its 2018 Ongoing Business Adjusted ROE to 13.5%-14.5%, Board Authorizes Additional $750 Million in Share Repurchases

Voya Financial, Inc.

, announced today that the company has increased its 2018 Ongoing Business1 Adjusted Operating Return on Equity (Adjusted ROE) target to 13.5% to 14.5%, up from the previously announced range of 13% to 14%. Senior management will discuss further details about Voya's strategy and plans at the company's 2015 investor day meeting beginning at 1 p.m. ET today. "Leading up to and following our initial public offering in May 2013, we successfully executed a plan to drive improved returns at Voya – generating significant value for all of our stakeholders," said Rodney O. Martin, Jr., chairman and CEO of Voya Financial, Inc. "We achieved our original, 2016 Adjusted ROE target of 12 to 13% by year-end 2014 – two full years ahead of schedule. We have strengthened our financial profile, expanded margins, returned $1.5 billion in capital to our shareholders, and improved profitability in our ongoing business. "In further developing our plans to generate greater value for our customers and our shareholders, we now believe we can achieve higher returns. As such, we are raising our 2018 Adjusted ROE target to 13.5% to 14.5%," added Martin. Supporting Voya's growth efforts will be $350 million in strategic investments, which the company announced in February 2015. The investments, which will be made through 2018, are intended to drive Adjusted ROE improvement, reduce operating costs, simplify the company's operating model, increase speed to market, and improve the customer experience. "Our investments over the next four years will help us achieve our aspiration to be one of the fastest and most agile companies in the industry," said Martin. "This will enable us to respond even more quickly to market trends and, ultimately, enable us to execute better for our customers and shareholders." New Share Repurchase Authorization Voya Financial also announced today that the board of directors has increased the amount of common stock authorized for repurchase under the company's share repurchase program by an additional $750 million. In April and May 2015, the company utilized $72 million under its previous share repurchase authorization to repurchase approximately 1.6 million of its shares. The aggregate amount currently available under the company's share repurchase authorization is now approximately $808 million2. New Ongoing Business Adjusted Operating Return on Capital Target In connection with its increased 2018 Adjusted ROE target, Voya Financial has also increased its 2018 Ongoing Business Adjusted Operating Return on Capital (Adjusted ROC) target to 11.5% to 12.5%, up from the previously announced range of 11% to 12%. The company also has announced today adjusted operating return on capital targets for each of its Ongoing Business segments. (Voya Financial focuses on return on capital for its Ongoing Business segments because the company does not allocate debt to its business units): 2018 Adjusted ROC Target Retirement & Investment Solutions Retirement 11.0 – 12.0% Annuities 9.5 – 10.5% Investment Management3 33.0 – 35.0% Insurance Solutions Individual Life 7.5 – 8.5% Employee Benefits 23.0 – 25.0% "Our continuing focus on the execution of our plans has enabled us to achieve a tremendous amount in a short period of time, and we plan to bring that same level of commitment to our new plans. We are excited about the opportunity to further help Americans get ready to retire better by planning, investing, and protecting their retirements," added Martin. Investor Day Webcast and Slide Presentation Voya Financial will host an audio webcast of its 2015 Investor Day beginning at approximately 1 p.m. (ET) today. The webcast and slide presentation can be accessed via the company's investor relations website at: http://investors.voya.com. A replay of the webcast will be available starting at approximately 10 a.m. (ET) on Wednesday, June 3, 2015 at: http://investors.voya.com. About Voya Financial® Voya Financial, Inc.

, is composed of premier retirement, investment and insurance companies serving the financial needs of approximately 13 million individual and institutional customers in the United States. The company's vision is to be America's Retirement CompanyTM and its guiding principle is centered on solving the most daunting financial challenge facing Americans today — retirement readiness. Working directly with clients and through a broad group of financial intermediaries, independent producers, affiliated advisors and dedicated sales specialists, Voya provides a comprehensive portfolio of asset accumulation, asset protection and asset distribution products and services. With a dedicated workforce of approximately 6,500 employees, Voya is grounded in a clear mission to make a secure financial future possible — one person, one family, one institution at a time. For more information, visit voya.com or view the company's 2014 annual report. Follow Voya Financial on Facebook and Twitter @Voya. Media Contact: Investor Contact: Christopher Breslin Darin Arita 212-309-8941 212-309-8999 Christopher.Breslin@voya.com IR@voya.com