Ing Groep N.v. · EURONEXT:INGA
Ing Groep — Debt Investor Presentation (July 2026)
51 slides from Ing Groep's debt investor presentation, Jul 30, 2026
Slide 1: 2Q2026 Fixed income presentation
2Q2026 Fixed income presentation 30 July 2026
Slide 2: Strong customer activity drives profitability
Strong customer activity drives profitability Commercial growth Positive operating jaws Four-quarter rolling, YoY +5.1% Mobile primary +377,000 39% of our 41 mln customers customers +1,055,000 YoY are mobile primary1) +3.1pp +2.0% €15.2 bln 8.1% annualised net core Lending lending growth in 2Q2026 g
Slide 3: Our 'Growing the difference' strategy is delivering accelerated growth
Our ‘Growing the difference’ strategy is delivering accelerated growth Accelerated growth and diversification post-CMD June 2024 Customer Customer lending deposits CAGRs • Capital deployed into profitable • Continuously increasing book, pre- / post-CMD organic growth, supporting priced at attractive
Slide 4: Consistent execution of our strategy continues to drive value
Consistent execution of our strategy continues to drive value Private individuals Business Banking Private Banking Wholesale Banking Accelerating growth Deploying our high Building a third pillar Diversifying income and delivering value return model in based on strong and increasing other countries
Slide 5: Disciplined RWA management enhances our return profile
Disciplined RWA management enhances our return profile Effective capital management Capital optimisation in Wholesale Banking Rebalancing the return profile Customer lending and RWA growth RWA growth (YoY, in € bln) RWA share in total (excl. Corporate Line) (YoY, in € bln and %) 9.6% 1.8% 67.0 50% +
Slide 6: Increasing profitability and continued buybacks accelerate EPS accretion
Increasing profitability and continued buybacks accelerate EPS accretion Increasing profitability (in € mln and %) Shares outstanding (in mln) EPS accretion (in €) Net result and ROTE (four-quarter rolling) Earnings per share (four-quarter rolling) 14.5% +16% 13.9% 13.6% 2.30 13.0% 12.9% 6,701 2,981
Slide 7: Continued attractive shareholder return
Continued attractive shareholder return Distributions (in € mln) Share price and distributions per share (in €) As distributed in the respective quarter 30.0 27.7 8.00 3,368 24.0 7.00 25.0 22.1 22.1 2,567 6.00 18.6 22.9 5.00 2,152 1,964 20.0 21.0 4.00 19.6 2,125 15.0 16.8 18.0 3.00 1,039 1,115 734 2
Slide 8: Outlook for 2026 and 2027
Outlook for 2026 and 2027 8
Slide 9: Upgraded outlook for 2026 and 2027
Upgraded outlook for 2026 and 2027 Outlook 2026 Outlook 2027 Previous Upgraded Previous Upgraded Mobile primary customers +1 mln per annum +1 mln per annum Fee income +5-10% growth ~€5.0 bln >€5 bln €5.3-€5.5 bln Total income ~€24 bln >€24.5 bln >€25 bln >€26 bln Operating expenses €12.6-€12.8 bln1)
Slide 10: Concluding remarks
Concluding remarks • Consistent execution of our ‘Growing the difference’ strategy with strong progress across all segments • Accelerated growth and income diversification, supporting positive operating jaws • Ahead of plan in allocating capital to higher return segments, enhancing the Group's overa
Slide 11: Business profile
Business profile 11
Slide 12: 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 capa
Slide 13: 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 14: 2Q2026 results
2Q2026 results 14
Slide 15: Total income supported by strong growth in commercial NII and fees
Total income supported by strong growth in commercial NII and fees Commercial NII (in € mln) Fee income (in € mln) All other income (in € mln) Total income (in € mln) +10.7% +13.9% +3.0% +10.2% 6,284 4,060 4,174 5,702 5,898 5,797 5,823 3,772 3,823 3,928 1,221 1,236 1,278 1,122 1,165 910 833 809 649
Slide 16: Continued growth in customer balances
Continued growth in customer balances Customer lending (in € bln) Strong growth in customer lending • €12.1 bln growth in Retail Banking, as Net core lending growth €15.2 bln demand for mortgages remained 3.0 solid, alongside growth in both 7.1 0.9 4.2 2.4 761.6 business and consumer lending 744.0 •
Slide 17: Higher commercial NII supported by volume growth
Higher commercial NII supported by volume growth Breakdown commercial NII (in € mln) Average customer balances (in € bln)1) Development of margins (in bps) +10.7% +6.8% 4,060 4,174 223 222 223 226 226 3,772 3,823 3,928 1,892 686 689 710 1,704 1,795 680 678 1,659 1,674 125 125 126 126 124 98 99 99 10
Slide 18: Continued momentum of rising fee income
Continued momentum of rising fee income Fee income per product category (in € mln) Structural growth • Retail Banking fees grew 16% YoY +14% across markets 1,221 1,236 1,278 • +1.1 mln mobile primary customers 1,122 1,165 73 65 52 78 66 68 74 79 92 69 377 • +5% in number of Business Banking 290 310
Slide 19: All other income reflects reduced market volatility
All other income reflects reduced market volatility All other income (in € mln) • Strong recovery in hedge ineffectiveness results, which had negatively impacted the previous 809 910 quarter 54 833 91 56 • Financial Markets recorded stronger 106 21 59 trading income QoQ, supported by 22 649 91 4 28
Slide 20: Higher expenses mainly reflecting seasonal effects
Higher expenses mainly reflecting seasonal effects Expenses (in € mln) Regulatory costs (in € mln) Incidental items (in € mln) Excluding regulatory costs and incidental items +4.2% 2,841 2,872 2,872 2,865 2,961 361 324 116 104 73 78 67 78 46 30 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 2Q2025 3Q2025 4Q2025
Slide 21: Risk costs remained well below the through-the-cycle average
Risk costs remained well below the through-the-cycle average Risk costs per business line (in € mln) Stage 2 ratio Stage 3 ratio Totals including Corporate Line 1.7% 8.6% 8.6% 1.7% 1.7% 17 19 20 19 15 8.3% 1.6% 8.3% 8.3% 8.1% 8.2% 1.6% 8.1% 365 8.0% 1.6% 1.5% 326 346 1.5% 1.6% 299 8.2% 1.5% 62 279 7
Slide 22: Capital
Capital 22
Slide 23: Risk-weighted assets decreased, supported by capital optimisation
Risk-weighted assets decreased, supported by capital optimisation Risk-weighted assets development (in € bln) Credit RWA excl. FX impact €-0.6 bln 0.5 1.8 1.5 -2.8 -1.2 344.3 -2.2 0.0 341.9 1Q2026 FX impact on Volume Overall profile of Models, Other Market RWA Operational RWA 2Q2026 RWA credit RWA d
Slide 24: Strong capital generation
Strong capital generation Total capital ratio development (in %) 3.0% 18.7% 2.6% 13.0% 12.9% +0.6% +0.0% +0.1% 13.1% ~13% -0.1% -0.6% 11.1% 1Q2026 Ongoing 1Q2026 Net Reserved Other RWA 2Q2026 AT1 Tier 2 2Q2026 Basel IV CET1 CET1 ratio share pro forma result profits capital movements CET1 ratio Total
Slide 25: Buffer to MDA remains strong
Buffer to MDA remains strong ING Group fully loaded capital requirements • Fully loaded CET1 requirement is 11.12% • 4.50% Pillar 1 Requirement (P1R) MDA • 0.96% Pillar 2 Requirement (P2R) restriction MDA level • 2.50% Capital Conservation Buffer restriction (15.37%) (CCB) MDA level • 1.10% Counterc
Slide 26: Funding & liquidity
Funding & liquidity 26
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 32.5% 8.7% 27.89% 6.75% 7.20% 13.8% 23.64% 5.64% 3.7% 5.64% 3.0% 0.8% 2.6% 22.25% 0.7% 18.00% 13.1% 3.5% TLAC/MREL TLAC MREL TLAC/MREL TLAC MREL eligible instruments requirement
Slide 28: Long-term debt issuance activity and maturity ladder
Long-term debt issuance activity and maturity ladder Strong progress in the execution of the 2026 funding plan: Total outstanding ING long-term issued debt (in € bln) • ~€2.3 bln of own funds instruments (AT1 and Tier 2) supporting By asset class By currency ING’s capital position 10.1 19.7 9.2 10.1
Slide 29: Issuance outstanding across ING subsidiaries
Issuance outstanding across ING subsidiaries ING Belgium ING Bank (Australia) ING Bank Hipoteczny ING Bank AS ING Bank N.V. S.A./N.V. ING DiBa AG Ltd (Poland) (Türkiye) Instruments • Secured funding • Secured funding • Secured funding • Secured funding • Secured funding • Capital overview • Senior u
Slide 30: ING has a dedicated Green Funding Programme
ING has a dedicated Green Funding Programme The Global Green Funding Framework provides a robust structure ING is a frequent green issuer, showing commitment on green to help steer investments into sustainable assets financing and building a solid curve in the market • Our Sustainable Funding Strate
Slide 31: ING Global Green Funding Framework 2024
ING Global Green Funding Framework 2024 • Our ING Global Green Funding Framework (“Framework”) has been assessed by a Second Party Opinion (SPO) provider and is aligned with the ICMA Green Bond Principles 2021. The Framework is presented through the below four pillars: Use of proceeds Project evalua
Slide 32: Project selection and management of proceeds
Project selection and management of proceeds • Projects financed and/or refinanced through Green Funding Instruments proceeds are evaluated and selected based on compliance with the Eligibility Criteria. The proceeds are managed under the portfolio approach; where applicable, the bond-by-bond approa
Slide 33: External verification
External verification Second Party Opinion on the ING Global Green Funding Framework • ISS has a positive overall evaluation for the sustainability criteria in ING’s Green Funding Framework • ING’s Green Funding Framework is in line with the ICMA Green Bond Principles 2021 (with June 2022 Appendix1)
Slide 34: 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 1,138 1,161 1,138 1,161 31 16 30 65 19 16 32 51 16 69 32 52 Stable funding profile 157
Slide 35: Robust liquidity position with a 12-month moving average LCR of 137%
Robust liquidity position with a 12-month moving average LCR of 137% Funding mix1) ING maintains a sizeable liquidity buffer 30 June 2026 • ING’s funding consists mainly of retail deposits, corporate deposits and public debt 11% 2% Customer deposits (private individuals) 6% • ING’s 12-month moving a
Slide 36: Strong rating profile at both Group and Bank levels
Strong rating profile at both Group and Bank levels Main credit ratings of ING on 29 July 2026 Latest rating actions on ING Group and Bank S&P Moody’s Fitch Scope • S&P: in June 2026, S&P affirmed ING's ratings and ING Groep N.V. (HoldCo) outlook, reflecting S&P’s view that ING’s ratings remain just
Slide 37: Asset quality
Asset quality 37
Slide 38: 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 389 52 361 19 26 31 19 297 15 9 270 7 18 44 143 216 19 1 33 19 221 78 17 12
Slide 39: Well-diversified lending credit outstandings by activity
Well-diversified lending credit outstandings1) by activity ING Group Retail Banking Wholesale Banking 6% 6% 12% 24% 34% 18% 4% 21% €880 bln €577 bln €577 bln €299 bln 11% 10% 5% 26% 58% 66% 67% 8% 5% 18% Retail Banking Residential mortgages Mortgages Netherlands Lending Wholesale Banking Consumer le
Slide 40: Wholesale Banking lending credit outstandings
Wholesale Banking lending credit outstandings1) Diversification across geographies Diversification across sectors 1% 9% Netherlands 4% 7% Real Estate, Infra & Construction 19% BeLux Commodities, Food & Agri 10% 11% Germany 32% TMT & Healthcare 2% Spain, Italy, Poland, Romania Transportation & Logist
Slide 41: Appendix
Appendix 41
Slide 42: Issuance entities under our approach to resolution
Issuance entities under our approach to resolution 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. (>
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 June 2026 2025 2024 44.7 Share premium 17,116 17,116 Other reserves 27,952 27,950 €20.8 bln Legal and statutory reserves -675 78 6.1 pp1) Non-distributable -6,225 -5
Slide 45: ING Bank's covered bond programme
ING Bank’s covered bond programme • ING Bank NV €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 sep
Slide 46: 2Q2026 results overview
2Q2026 results overview 2Q2026 results overview (in € mln) Reported P&L Volatile items P&L excluding volatile items Commercial NII 4,174 0 4,174 Fee income 1,278 1 1,277 All other income 833 88 745 Total income 6,284 88 6,195 Expenses excl. regulatory costs 3,008 46 2,961 Regulatory costs 78 0 78 Op
Slide 47: Volatile income and expense items
Volatile income and expense items Volatile items (in € mln) 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 WB/FM – valuation adjustments -26 22 -4 30 -25 Capital gains/losses -14 5 13 5 15 Hedge ineffectiveness1) -49 21 12 -81 91 Other items income2) -21 30 54 -25 8 Total volatile items – income -110 77 75 -71
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 (2Q2026) Customers (mln) 41.2 7.8 2.4 9.5 4.7 1.4 2.8 4.6 1.9 6.0 o.w. primary (mln) 17.4 5.0 1.2 3.4 1.9 0.6 1.2 2.4 1.1 0.6 o.w. mobile prim
Slide 49: Short-to-medium term liability margin outlook remained relatively stable
Short-to-medium term liability margin outlook remained relatively stable 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 margin in bps1) 13.8 400 1
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 738 736 721 753 773 42 40 39 43 • ~70% of total deposits is from 76 82 80 15 83 83 private individuals, of which
Slide 51: 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