Ing Groep N.v. · EURONEXT:INGA
Ing Groep — Debt Investor Presentation (October 2026)
52 slides from Ing Groep's debt investor presentation, Oct 29, 2026
Slide 1: 3Q2026 Fixed income presentation
3Q2026 Fixed income presentation 29 October 2026
Slide 2: Strong customer activity drives profitability
Strong customer activity drives profitability Commercial growth Positive operating jaws Four-quarter rolling, YoY Mobile primary +259,000 39% of our 41 mln customers customers +1,115,000 YoY are mobile primary1) +6.6% +4.4pp +2.2% Lending €11.0 bln 5.8% annualised net core lending growth €61.6 bln Y
Slide 3: Strategic drivers support our structurally increasing profitability
Strategic drivers support our structurally increasing profitability Structurally increasing return on tangible equity Significant further potential Four-quarter rolling • Continued investments in new capabilities Fee growth • Increased customer adoption of our products • Greater diversification of o
Slide 4: Retail customers increasingly buy more products, leading to higher fees
Retail customers increasingly buy more products, leading to higher fees Growing our base of private individuals Increasing the cross-selling Increasing volumes and fees per customer Total number of customers (in mln) Mobile primary customers (in mln) Average per private individual customer, in €k +0
Slide 5: Profitable growth supported by increasing scalability
Profitable growth supported by increasing scalability Unlocking capacity Increasing scalability through efficiencies Supporting more customer activity without additional resources • Internal FTE decreased by >900 YoY (-1.5%) while absorbing Cumulative increase since 4Q2023 (in %) commercial growth a
Slide 6: Capital generation amplified by disciplined RWA management
Capital generation amplified by disciplined RWA management Increasing profitability Disciplined RWA management Net result and earnings per share RWA (in € bln) (four-quarter rolling) 2.35 2.30 10.4 1.9 2.18 2.12 336.2 337.7 6,701 6,764 2.00 -10.8 6,327 6,429 6,071 3Q25 4Q25 1Q26 2Q26 3Q26 3Q25 Volum
Slide 7: Capital generation allows for attractive shareholder return
Capital generation allows for attractive shareholder return 100% of net profit …while generating further reserved for distribution… excess capital within the CET1 ratio 1.1% 13.0% 0.4% 0.1% 13.3% -0.6% -0.6% -0.1% 1Q2026 Net Regular Additional Volume Other RWA Other 3Q2026 CET1 ratio result dividend
Slide 8: Outlook for 2026 and 2027
Outlook for 2026 and 2027 8
Slide 9: Outlook for 2026 and 2027
Outlook for 2026 and 2027 Outlook 2026 Outlook 2027 Mobile primary customers +1 mln per annum +1 mln per annum Fee income ~€5.0 bln €5.3-€5.5 bln Total income >€24.5 bln >€26 bln Operating expenses €12.6-€12.8 bln1) ~€13 bln1) CET1 ratio ~13% ~13% Return on tangible equity >15% >16% 1) The €115 mln
Slide 10: Taking the next strategic step in Wholesale Banking to create greater value
Taking the next strategic step in Wholesale Banking to create greater value Built for clients, designed for value Serving >4,000 of the world’s largest Taking the next strategic step corporates and financial institutions • Creating a more streamlined structure which supports closer relationships wit
Slide 11: ING Capital Markets Day
Save the date ING Capital Markets Day 14 June 2027, London
Slide 12: Business profile
Business profile 12
Slide 13: Well-diversified business mix
Well-diversified business mix Retail Banking Footprint Wholesale Banking International Network • Focus on earning the primary Netherlands • A leading European Wholesale EMEA relationship Belgium Bank, powered by: Asia Pacific Luxembourg1) • Our global reach, with local Americas • Leading digital cap
Slide 14: Executing our strategy to be the best European bank
Executing our strategy to be the best European bank growing the difference Purpose Empowering people to stay a step ahead in life and in business Superior value for customers Uniquely Strategic pillars Sustainability at the heart ING Providing Staying seamless digital services safe & secure Enablers
Slide 15: 3Q2026 results
3Q2026 results 15
Slide 16: Total income supported by strong commercial NII and fees
Total income supported by strong commercial NII and fees Commercial NII (in € mln) Fee income (in € mln) All other income (in € mln) Total income (in € mln) +13.4% +9.3% -32.0% +5.6% 4,335 6,284 6,227 4,060 4,174 5,898 5,797 5,823 3,823 3,928 1,278 1,273 1,165 1,221 1,236 910 833 649 619 528 3Q25 4Q
Slide 17: Continued growth in customer balances
Continued growth in customer balances Customer lending (in € bln) Strong growth in customer lending • €8.5 bln growth in Retail Banking, as Net core lending growth €11.0 bln demand for mortgages remained 0.5 2.5 solid, alongside growth in both 6.9 1.1 769.7 business and consumer lending 761.6 -3.0 •
Slide 18: Higher commercial NII supported by volume growth and liability margins
Higher commercial NII supported by volume growth and liability margins Breakdown commercial NII (in € mln) Average customer balances (in € bln)1) Development of margins (in bps) +13.4% +7.5% 222 223 226 226 231 4,174 4,335 3,928 4,060 3,823 686 689 710 718 1,795 1,892 2,027 678 1,674 1,704 125 126 1
Slide 19: Continued strong fee income across all categories
Continued strong fee income across all categories Fee income per product category (in € mln) Structural growth • Retail Banking fees grew 10% YoY +9.3% across markets 1,221 1,236 1,278 1,273 • +1.1 mln mobile primary customers 1,165 52 73 65 78 31 80 66 68 74 79 • +5% in number of Business Banking 3
Slide 20: All other income affected by interest rate volatility
All other income affected by interest rate volatility All other income (in € mln) • Financial stakes included the annual dividend of €89 mln from our stake in Bank of Beijing and a €57 mln gain on 910 the partial sale of our participation in 833 54 TMBThanachart Bank 106 56 59 619 22 21 649 • Treasu
Slide 21: Operating expenses remain under control
Operating expenses remain under control Expenses (in € mln) Regulatory costs (in € mln) Incidental items (in € mln) Excluding regulatory costs and incidental items +3.6% 2,872 2,872 2,865 2,961 2,975 361 324 104 73 69 67 78 75 46 30 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 3Q2025 4Q2025 1Q2026 2Q2026 3Q20
Slide 22: Risk costs impacted by a model update
Risk costs impacted by a model update Risk costs per business line (in € mln) Stage 2 ratio Stage 3 ratio Totals including Corporate Line 8.6% 1.7% 8.5% 8.3% 8.3% 8.1% 1.7% 19 20 19 15 21 8.0% 1.6% 1.6% 1.6% 403 8.1% 8.2% 1.6% 1.5% 7.9% 7.9% 1.6% 365 7.8% 326 346 7.7% 1.5% 279 7.4% 1.5% 62 208 7.3%
Slide 23: Capital
Capital 23
Slide 24: Risk-weighted assets decreased, supported by increased capital efficiency
Risk-weighted assets decreased, supported by increased capital efficiency Risk-weighted assets development (in € bln) Credit RWA excl. FX impact €-5.1 bln 0.0 1.0 0.4 -3.1 341.9 -3.3 0.8 0.0 337.7 2Q2026 FX impact on Volume Overall profile of Models, Other Market RWA Operational RWA 3Q2026 RWA credi
Slide 25: Strong capital generation
Strong capital generation CET1 capital ratio development (in %) +0.5% +0.1% +0.2% 13.3% 13.1% ~13% -0.5% 11.1% 2Q2026 Net result Reserved profits Other capital RWA 3Q2026 Basel IV CET1 outside of CET1 (100%) movements movements ratio target Expected fully-loaded CET1 MDA Management buffer • Strong c
Slide 26: Capital levels remain comfortably above MDA requirements
Capital levels remain comfortably above MDA requirements ING Group fully loaded capital requirements 18.5% 4.1% Tier 2 2.9% 15.37% 3.6% AT1 2.3% 12.94% 2.00% 11.12% 1.17% 2.00% 1.17% 2.50% 2.00% 1.17% 2.50% 1.70% CET1 13.3% 2.50% 1.28% 0.96% 8.00% 6.00% 4.50% 3Q2026 CET1 Tier 1 Total capital 3Q2026
Slide 27: Comfortably meeting TLAC and MREL requirements
Comfortably meeting TLAC and MREL requirements TLAC/MREL as percentage of RWA TLAC/MREL as percentage of leverage exposure 32.1% 8.4% 27.89% 7.20% 6.75% 13.5% 23.64% 5.64% 3.6% 5.64% 2.9% 0.8% 2.3% 0.6% 22.25% 18.00% 13.3% 3.5% 3Q2026 TLAC MREL 3Q2026 TLAC MREL TLAC/MREL requirement requirement TLAC
Slide 28: ING follows a Single Point of Entry resolution approach
ING follows a Single Point of Entry resolution approach Issuance entities Eligible instruments for Group TLAC/MREL Designated TLAC MREL resolution ING Groep N.V. entity • Own funds (CET1/AT1/Tier 2) ✓ ✓ • Senior unsecured debt (>1 year) ✓ ✓ • Secured funding & senior unsecured debt ING Bank N.V. (>1
Slide 29: Funding, liquidity and ratings
Funding, liquidity and ratings 29
Slide 30: ING issues a variety of instruments through multiple entities
ING issues a variety of instruments through multiple entities ING Groep N.V. ING Germany AT1 ~€1.3 ~€9.2 Covered Bond €1.8 €10.0 Tier 2 €1.0 ~€10.1 Senior Unsecured ~€5.1 ~€47.3 ING Poland ING Bank N.V. Covered Bond PLN1.0 ~PLN2.5 Senior Unsecured¹) ~€5.0 ~€9.6 Covered Bond €3.4 ~€24.8 RMBS €1.0 ~€2
Slide 31: Well-balanced maturity profile
Well-balanced maturity profile Total outstanding ING long-term issued debt (in € bln) By asset class By currency 4.4 9.2 10% 10.2 AT1 EUR Tier 2 USD 44.5 Other HoldCo Senior 137.3 31% 137.3 OpCo Senior 1) 47.3 Covered Bonds 59% RMBS 21.6 Long-term debt maturity ladder as per 30 September 2026 (in €
Slide 32: 2026 issuance guidance
2026 issuance guidance Guidance1) Issued 9M2026 AT1/Tier 2 ~€2.3 bln HoldCo Senior €6-8 bln ~€5.1 bln OpCo Senior2) ~€6.3 bln Secured funding2) €6-8 bln ~€8.1 bln Total ~€21.8 bln • ING’s funding plan aims to maintain all capital and liquidity ratios comfortably above the regulatory minimum requirem
Slide 33: ING maintains a well-established Green Funding Programme
ING maintains a well-established Green Funding Programme Recent Green Funding Transactions (in € bln)1) Eligible Green Loan Portfolio allocation (in € bln)2) 63.0 9.6 5.6 1.0 1.0 4.1 50.1 22.5 3.3 2.3 5.8 1.0 2.5 4.5 1.0 2.3 1.3 1.0 7.3 12.1 2024 2025 2026 Eligible green loan Green funding portfolio
Slide 34: ING Global Green Funding Framework supports eligible green asset financing
ING Global Green Funding Framework supports eligible green asset financing • The ING Global Green Funding Framework (2024) aligns with the ICMA Green Bond Principles 2021 and received a positive Second Party Opinion (SPO) by ISS Corporate Solutions (September 2024) • The Framework enables ING to fin
Slide 35: Strong balance sheet with customer deposits as primary source of funding
Strong balance sheet with customer deposits as primary source of funding Balance sheet ING Group (in € bln) Well-diversified customer loan book Assets Liabilities • See “Asset Quality” section of this presentation 1,161 1,181 1,161 1,181 30 19 38 70 17 51 16 29 51 15 Stable funding profile 65 32 160
Slide 36: Robust liquidity position with a 12-month moving average LCR of 136%
Robust liquidity position with a 12-month moving average LCR of 136% Funding mix1) ING maintains a sizeable liquidity buffer 30 September 2026 • ING’s funding consists mainly of retail deposits, corporate deposits and public debt 11% 2% Customer deposits (private individuals) • ING’s 12-month moving
Slide 37: Strong rating profile at both Group and Bank levels
Strong rating profile at both Group and Bank levels Main credit ratings of ING on 28 October 2026 Main ESG ratings of ING on 28 October 2026 S&P Moody’s Fitch Scope ING Groep N.V. (HoldCo) Long-term issuer rating A- n/a A+ AA- Short-term issuer rating A-2 n/a F1 S-1+ CCC B BB BBB A AA AAA Outlook St
Slide 38: Asset quality
Asset quality 38
Slide 39: Additions to loan loss provisions per Stage
Additions to loan loss provisions per Stage Stage 1 provisioning (in € mln) Stage 2 provisioning (in € mln) Stage 3 provisioning (in € mln) Total includes Corporate Line Including modifications; total includes Corporate Line 107 389 361 57 297 19 121 270 31 143 216 239 15 9 55 78 1 18 44 110 35 17 1
Slide 40: Well-diversified lending credit outstandings by activity
Well-diversified lending credit outstandings1) by activity ING Group Retail Banking Wholesale Banking 6% 6% 13% 24% 35% 18% 4% 21% €904 bln €588 bln €588 bln €313 bln 5% 12% 11% 57% 26% 65% 67% 7% 4% 18% Retail Banking Residential mortgages Mortgages Netherlands Lending Wholesale Banking Consumer le
Slide 41: Wholesale Banking lending credit outstandings
Wholesale Banking lending credit outstandings1) Diversification across geographies Diversification across sectors 1% 9% Netherlands 2% 7% Real Estate, Infra & Construction 18% BeLux Commodities, Food & Agri 10% 12% Germany 32% TMT & Healthcare 2% Spain, Italy, Poland, Romania Transportation & Logist
Slide 42: Appendix
Appendix 42
Slide 43: Capital instruments including a par call option
Capital instruments including a par call option AT1 securities issued by ING Group Outstanding Start par call window End par call window 1) Currency (mln) Coupon Issue date (First call date) (First reset date) Maturity ISIN USD 1,000 3.875 14/09/2021 16/05/2027 16/11/2027 Perpetual US456837AY94 USD
Slide 44: Comfortable buffer to Additional Tier 1 trigger
Comfortable buffer to Additional Tier 1 trigger Buffer to AT1 trigger (in € bln) ING Group available distributable items (in € mln) 30 September 2026 2025 2024 45.0 Share premium 17,116 17,116 Other reserves 27,952 27,950 €21.4 bln Legal and statutory reserves -675 78 6.3 pp1) Non-distributable -6,2
Slide 45: ING Bank's covered bond programme
ING Bank’s covered bond programme • ING Bank N.V. €30 bln Hard and Soft Bullet Covered Bonds programme Redemption type1) • UCITS, CRR and ECBC Label compliant. Rated Aaa/AAA/AAA (Moody’s/S&P/Fitch) 2%2% 1% Interest-only Investment • This programme is used for external issuance purposes. There is a s
Slide 46: 3Q2026 results overview
3Q2026 results overview 3Q2026 results overview (in € mln) Reported P&L Volatile items P&L excluding volatile items Commercial NII 4,335 0 4,335 Fee income 1,273 0 1,272 All other income 619 -52 671 Total income 6,227 -52 6,279 Expenses excl. regulatory costs 3,043 69 2,975 Regulatory costs 75 0 75
Slide 47: Volatile income and expense items
Volatile income and expense items Volatile items (in € mln) 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 WB/FM – valuation adjustments 22 -4 30 -25 -25 Capital gains/losses 5 13 5 15 -1 Hedge ineffectiveness1) 21 12 -81 91 -72 Other items income2) 30 54 -25 8 47 Total volatile items – income 77 75 -71 88 -52
Slide 48: Retail Banking countries contributing to strong returns
Retail Banking countries contributing to strong returns Retail Banking Total Netherlands Belgium1) Germany Spain Italy Australia Poland Romania Türkiye Scale (3Q2026) Customers (mln) 41.4 7.8 2.4 9.6 4.7 1.4 2.9 4.6 1.9 6.0 o.w. primary (mln) 17.6 5.1 1.2 3.5 1.9 0.6 1.1 2.4 1.1 0.7 o.w. mobile prim
Slide 49: Short to medium term liability margin outlook positively impacted by forward curve
Short to medium term liability margin outlook positively impacted by changes in forward curve Replicating income on Retail eurozone 3-month EURIBOR forward curves customer deposits Total liability margin Implied interest rates, end-of-period, in bps Interest income in € bln1) Average liability margi
Slide 50: Granular deposit base
Granular deposit base Total customer deposits per segment (in € bln) • Highly insured, granular and growing Total includes Corporate Line customer deposits represent a strong funding base 736 753 773 780 721 40 39 43 39 • ~70% of total deposits is from 82 80 15 83 83 92 private individuals, of which
Slide 51: €1.9 distribution fully funded from net profits reserved outside of CET1
€1.9 distribution fully funded from net profits reserved outside of CET1 Net profit reserved outside of CET1 (in € bln) • As of 2026, ING is required to reserve any net profits outside of CET1 capital that could potentially be used for future additional distributions, next to the regular 50% payout
Slide 52: Important legal information
Important legal information ING Group’s financial statements are prepared in accordance with International Financial Reporting Standards as adopted by the European Union (‘IFRS- EU’). In preparing the financial information in this document, except as described otherwise, the same accounting principl
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