Slide 1: 2Q2025 Continued growth and on track to reach our targets
2Q2025 Continued growth and on track to reach our targets 31 July 2025
Slide 2: Continued strong growth in 2Q2025; well on track to reach our targets
Continued strong growth in 2Q2025; well on track to reach our targets Mobile primary Lending Deposits Fee Return Volume customers growth2) growth2) income on equity3) mobilised +309,000 €15.4 bln €6.2 bln €1,122 mln 12.7% €68 bln4) 37% of our >40 mln 6% annualised net 8% annualised net 11% growth in
Slide 3: Accelerating customer acquisition, a key driver of future value
Accelerating customer acquisition, a key driver of future value Increasing pace of customer acquisition Drivers of mobile primary customers growth Growth in total number of customers (in k) Since 2Q2024 646 544 456 432 285 Cross-sell to 166 146 new customers +1.1 mln -3 growth in mobile primary -174
Slide 4: Increasing conversion to mobile primary customers
Increasing conversion to mobile primary customers Growing number of (mobile) primary customers (in mln) Attractive characteristics of mobile primary customers Significant upside in conversion rates 2024 37.6% 39.1% 39.6% 40.7% 41.1% Cross-sell Attrition Revenues 16.2 16.6 1.8x -7x x2 14.6 15.3 14.3
Slide 5: Continuing to grow customer balances
Continuing to grow customer balances Average customer lending (in € bln)1) CAGR +2% +5% • Consistent growth in average customer balances, outpacing the 660 674 growth in number of customers 608 619 634 653 643 644 645 185 • Strong momentum in the last year 179 182 189 202 192 190 183 184 with 6% gro
Slide 6: Consistently delivering value for our shareholders
Consistently delivering value for our shareholders Distributions (in € mln) Share price (in €) Shareholder return (in %) As distributed in the respective quarter Four-quarter DPS / four-quarter rolling share price 18.6 18.0 18.4% 3,512 3,357 17.4% 15.0% 15.9% 15.3% 16.0 16.3 2,366 15.1 16.8 2,497 2,
Slide 7: 2025 outlook
2025 outlook 7
Slide 8: Commercial NII is expected to grow in 2H2025
Commercial NII is expected to grow in 2H2025 Development commercial NII (in € bln) • Including FX impact, commercial NII is expected to grow in 2H2025 versus €15.2 - €15.3 bln 1H2025 • Assuming stable FX rates1), full-year 7.8 7.9 7.8 7.6 impact of a stronger euro is 7.6 expected to be ~€-150 mln 6.
Slide 9: Our 2025 outlook has improved and we are on track to reach our 2027 targets
Our 2025 outlook has improved and we are on track to reach our 2027 targets 2025 outlook 2027 targets Mobile primary customers Mobile primary customers annual growth annual growth +1 mln +1 mln Total income Total income 2025 CAGR 2024-2027 Roughly stable +4-5% Fee income Fee income 2025 2027 Higher
Slide 10: 2Q2025 results
2Q2025 results 10
Slide 11: Total income supported by resilient commercial net interest income
Total income supported by resilient commercial net interest income Total income (in € mln) 5,909 5,716 5,637 5,702 5,407 800 1,003 749 809 657 999 1,009 1,094 1,122 1,001 3,917 3,897 3,749 3,794 3,772 2Q2024 3Q2024 4Q2024 1Q2025 2Q2025 Commercial NII Fee income All other income • Stable commercial n
Slide 12: Strong sustained growth in customer balances
Strong sustained growth in customer balances Customer lending (in € bln) Strong growth in customer lending • Substantial €11.3 bln growth in Retail Net core lending growth €15.4 bln Banking driven by continued 4.1 mortgage growth in most markets 7.2 0.9 3.2 694.7 • Additional growth in both business
Slide 13: Resilient commercial net interest income
Resilient commercial net interest income Breakdown commercial NII (in € mln) Average customer balances (in € bln)1) Development of margins (in bps) +5.6% 3,917 3,897 242 238 3,749 3,794 3,772 226 226 223 1,779 1,794 1,630 1,685 1,659 680 637 643 652 668 132 128 128 125 125 112 112 2,138 2,119 2,109
Slide 14: Lending margin includes mix shift to more profitable Retail Banking
Lending margin includes mix shift to more profitable Retail Banking Capital allocation to Retail Banking Margin development Percentage of RWA1) 173 165 163 161 161 49.5% 48.3% 47.9% 47.0% 46.7% 116 114 114 112 112 50.5% 51.7% 52.1% 53.0% 53.3% 2Q2024 3Q2024 4Q2024 1Q2025 2Q2025 2Q2024 3Q2024 4Q2024
Slide 15: Strong and structural increase in fee income
Strong and structural increase in fee income Fee income per product category (in € mln) Structural growth • Continued strong structural growth in +12% fee income, ~75% alpha driven 1,094 1,122 999 1,009 1,001 • Fees now make up ~20% of total 82 92 76 64 78 60 62 69 69 income, up from ~18% in 2024 62
Slide 16: All other income supported by Treasury, FM and other investments
All other income supported by Treasury, FM and other investments All other income (in € mln) • Financial Markets is driven by client activity, and we continued supporting 1,003 our clients in turbulent times 106 809 • Treasury was up on both comparable 800 749 58 quarters, mainly due to higher 126 3
Slide 17: Proactive cost management resulting in improved operating efficiency
Proactive cost management resulting in improved operating efficiency Expenses (in € mln) Regulatory costs (in € mln) Incidental items (in € mln) Excluding regulatory costs and incidental items 2,792 2,881 2,835 2,841 2,719 116 109 347 361 41 88 88 78 24 4 2Q2024 3Q2024 4Q2024 1Q2025 2Q2025 2Q2024 3Q
Slide 18: Risk costs below the through-the-cycle average
Risk costs below the through-the-cycle average Risk costs per business line Stage 2 ratio Stage 3 ratio Totals including Corporate Line 9.4% 8.4% 8.6% 2.0% 18 20 18 18 17 8.3% 1.9% 8.3% 1.8% 1.8% 7.6% 1.7% 336 7.6% 8.9% 1.7% 313 7.3% 7.2% 1.6% 1.6% 1.6% 300 299 299 8.7% 8.2% 8.2% 1.5% 191 138 89 141
Slide 19: Strong capital generation compensates for the ongoing share buyback
Strong capital generation compensates for the ongoing share buyback CET1 capital ratio development (in %) 13.6% +0.5% 0.1% 13.1% 13.3% ~12.5% -0.6% -0.3% -0.1% 10.9% 1Q2025 Ongoing 1Q2025 pro forma Net result Dividend Other capital RWA 2Q2025 Basel IV CET1 ratio share buyback reserve movements targe
Slide 20: Concluding remarks
Concluding remarks • Continued strong commercial growth, highlighting the strength of our franchise • Commercial NII was resilient and is expected to increase in 2H2025 • Continued double-digit fee income growth, with good results in both Retail and Wholesale Banking • Costs remain well within our g
Slide 21: Q&A
Q&A 21
Slide 22: Appendix
Appendix 22
Slide 23: 2Q2025 results overview
2Q2025 results overview 2Q2025 results overview (in € mln) Reported P&L Volatile items P&L excluding volatile items Commercial NII 3,772 0 3,772 Fee income 1,122 -1 1,122 All other income 809 -109 918 Total income 5,702 -110 5,812 Expenses excl. regulatory costs 2,956 116 2,841 Regulatory costs 78 0
Slide 24: Volatile income and expense items
Volatile income and expense items Volatile items (in € mln) 2Q2024 3Q2024 4Q2024 1Q2025 2Q2025 WB/FM – valuation adjustments 19 8 -13 -6 -26 Capital gains/losses 4 -51 -64 6 14 Hedge ineffectiveness1) 39 170 -53 -10 -49 Other items income2) 5 46 -62 -29 -21 Total volatile items – income 67 173 -191
Slide 25: 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 (2Q2025) Customers (mln) 40.4 7.7 2.5 9.4 4.5 1.3 2.8 4.5 1.8 5.9 o.w. primary (mln) 16.6 4.9 1.2 3.1 1.7 0.5 1.1 2.3 1.0 0.6 o.w. mobile prim
Slide 26: Liability margin supported by disciplined repricing
Liability margin supported by disciplined repricing Replicating income on Retail eurozone Total liability margin to stabilise at a 3-month EURIBOR forward curves customer deposits 100-110 bps Implied interest rates, end-of-period, in bps Interest income in € bln1) Average liability margin in bps1) 4
Slide 27: Impact accounting asymmetry
Impact accounting asymmetry Treasury interest rate differential (in € mln) Wholesale Banking Financial Markets (in € mln) 18 356 376 415 371 19 17 19 29 302 233 231 226 269 515 515 521 525 203 416 -174 -207 50 52 29 61 59 -215 -214 -252 -209 -192 -143 -167 -212 2Q2024 3Q2024 4Q2024 1Q2025 2Q2025 2Q2
Slide 28: Granular deposit base
Granular deposit base Total customer deposits per segment (in € bln) • Highly insured, granular and continuously growing customer 693 698 692 734 738 deposits represent a strong funding 79 40 42 base 68 39 69 42 74 20 76 120 121 126 122 122 • ~70% of total deposits is from private individuals, of wh
Slide 29: 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) WB includes Corporate Line Including modifications and WB includes Corporate Line 26 84 15 451 453 7 52 7 17 19 81 19 3 3 -2 43 33 -7 12 2 311 -21 -37 306 289 -
Slide 30: Well-diversified lending credit outstandings by activity
Well-diversified lending credit outstandings1) by activity ING Group Retail Banking Wholesale Banking 10% 6% 12% 23% 31% 16% 4% 21% €811 bln €559 bln €559 bln €252 bln 13% 11% 24% 60% 5% 64% 69% 8% 6% 18% Retail Banking Residential mortgages Mortgages Netherlands Lending Wholesale Banking Consumer l
Slide 31: Wholesale Banking lending credit outstandings
Wholesale Banking lending credit outstandings1) Diversification across geographies Diversification across sectors 1% 9% Netherlands 1% 9% Real Estate, Infra & Construction 12% Commodities, Food & Agri BeLux 2% 11% 31% 12% Germany TMT & Healthcare Retail Other countries Transportation & Logistics 17%
Slide 32: Important legal information
Important legal information ING Group’s annual accounts 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 principles ar