Investor Presentaiton

Funding instruments: the capital market . Dutch State Loans (T-bonds) Focus on issuance in EUR Maturities: focus on 3- or 5- years and 10-years; in 2017: 7-year DSL Commitment to the long end of the curve (up to 30-year segment) Auctions on fixed dates: 2nd (and if needed 4th) Tuesday of the month 49 Quarterly issuance calendars (Q3 release: 23 June 2017) Dutch Direct Auctions for new medium and longer-dated DSLs Benchmark sizes minimum € 15 bn. per DSL and € 10 bn. for 30-year DSLS Buy-backs for cash management purposes (up to 24 months remaining maturity) Possibility of issuance of USD Dutch State Bonds Investor presentation Mexico City

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