ING 1Q2023 Financial Targets Update

Progress towards our 2025 targets Financial target 1Q2023 2025 target Drivers 5-10% Fee income ¹) -4% annual growth Total income ¹) +23.2% 4-5% CAGR Cost/income ratio ²) 58.0% 50-52% CET1 ratio 14.8% ~12.5%4) Primary customer growth Increasing package and service fees in daily banking to better reflect cost of service Growing base in investment products, both in number of accounts as well as AuM Strong base to capture loan growth ■ For 2023 we expect total income growth >10% Liability NIl growth depending on central bank rate increases, deposit tracking and customer behaviour Lending NII growth depending on demand and pricing discipline in the market Fee growth Total income growth ■ Costs including full-year inflationary effects and continued investments in our business for growth ■ Lower regulatory costs once funds required for the DGS and SRF are filled³) Intention to converge to our target level in roughly equal steps through pay-out ratio of 50% of resilient net profit and additional distributions Continued income growth and cost control Strong diversified asset book and low Stage 3 ratio protects P&L Return on equity²) 2) 9.7% 12% ■ ~12.5% CET1 ratio target level 1) In 1Q, 2Q and 3Q based on year-to-date comparison; for full year fee growth based on annual growth, total income growth based on CAGR; (total income excluding net TLTRO impact and the Polish mortgage moratorium) 2) Based on 4-quarter rolling average. RoE is calculated using IFRS-EU shareholders' equity after excluding amounts reserved for future distribution 3) Formal build-up phase of several local Deposit Guarantee Schemes (DGS) and European Single Resolution Fund (SRF) are scheduled to be completed by 2024 4) Implies management buffer (incl. Pillar 2 Guidance) of ~150 bps over fully loaded CET1 requirement of 10.98% 6

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