Exhibit 99.1

Investor enquiries E: investor.relations@ing.com Press enquiries T: +31 (0)20 576 5000 E: media.relations@ing.com Analyst call 3 November 2022 at 9:00 am CET +31 20 709 5189 (NL), PIN code: 51873296# +44 333 300 0804 (UK), PIN code: 51873296# (Registration required via invitation) Live audio webcast at www.ing.com Media call 3 November 2022 at 11:00 am CET +31 20 709 5189 (NL), PIN code: 46505173# +44 333 300 0804 (UK), PIN code: 46505173# Live audio webcast at www.ing.com ING posts 3Q2022 net result of €979 million and announces additional distribution to shareholders 3Q2022 pro fi t before tax of €1,380 million; CET1 ratio remains strong at 14.7% • Net customer deposits growth of €10.5 billion and net core lending growth of €4.7 billion • In net interest income, higher liability margins helped to o ﬀ set the impact of the Polish mortgage moratorium • Risk costs normalised re fl ecting the macroeconomic environment • Additional distribution to shareholders of €1.5 billion CEO statement “I’m pleased with our solid performance, especially in light of the challenging economic and geopolitical environment,” said Steven van Rijswijk, CEO of ING. “Our strategy and our strong, diversi fi ed balance sheet are paying o ﬀ . Total income this quarter was €4,412 million. Without two exceptional items it would have been €5,043 million, as we bene fi tted from higher interest rates, supporting our revenues in both Retail and Wholesale Banking. Fee income was resilient, as higher fees from daily banking were o ﬀ set by lower fees from investment products, due to a decline in stock markets and subdued trading activity. The two exceptional items were €343 million from new regulation in Poland for mortgages as previously announced, and a hedge accounting impact of €288 million, of which the mirroring positive impact will be recognised over the coming years. “The exceptionally high in fl ation and high energy prices are a ﬀ ecting consumers and companies alike. Our own expenses were also impacted by increasing in fl ationary pressure and adverse currency developments this quarter, however controllable expenses were well contained. With our scalable Tech and Operations foundation, we’re able to grow our business at marginal cost. One of the three main elements of this foundation, our ING Private Cloud (IPC), reached an important milestone this quarter: more than 50% of the workload is now on IPC, up from 34% in 2021, meaning we’re well on our way to reach our 70% target by 2025. “Risk costs remained in line with our through - the - cycle average and include overlays based on the macroeconomic outlook. We’re con fi dent of the quality of our loan portfolio, the strength of our diversi fi ed risk pro fi le and our provisioning levels. Combined with our strong capital position this allows us to announce today an additional distribution to our shareholders of €1.5 billion, which is fully in line with our capital ambitions as presented at our recent Investor Update. “We’re committed to executing our strategy: to provide a superior customer experience and put sustainability at the heart of what we do. The continued growth in primary customers and the positive Net Promoter Score development are evidence that our customers value our services. In NPS, we are now number one in seven of our ten retail markets, up from fi ve in the previous quarter. “When it comes to sustainability, we aim to be a banking leader . Our 2022 Climate Report shows the progress we’re making in climate action, including our Terra approach . I’m pleased that we’ve set intermediate targets for 2030 for all nine Terra sectors (the most carbon - intensive ones) . This is helping us to steer our loan portfolio towards net zero by 2050 . “We're on track to reach our fi nancial targets as communicated in June. I'm con fi dent we're well positioned to face the challenges and capture the opportunities ahead of us, as we continue to create value for all stakeholders, support our customers and facilitate the transition to a low - carbon economy." Press release ING Corporate Communications Amsterdam, 3 November 2022

Business Highlights Primary customers 14.4 mln +139,000 since 2Q2022 Mobile - only customers 57% in % of total active customers vs 53% at 2Q2022 Net result €979 mln - 28% vs 3Q2021 Fee income €876 mln - 1% vs 3Q2021 CET1 ratio 14.7% unchanged vs 2Q2022 Return on equity (4 - qtr rolling avg) 6.8% - 2.0% - point vs 3Q2021 Giving our customers a superior experience is one of our strategic priorities. We want to stand out with an experience that is relevant, easy, personal and instant. That’s why we’re continuously improving payment experiences. In the Netherlands, department store HEMA will be the fi rst retail chain to test an app, developed by ING and CCV, a specialist in payment solutions, that turns mobile phones into payment terminals for contactless payments. Another example is a peer - to - peer payment application that allows users to pay simply by holding their phones next to each other. It was developed by ING in the Netherlands in collaboration with Samsung and NXP. In Spain we launched a new daily banking account, co - created with customers, that o ﬀ ers an instant online onboarding process and personal services, such as online purchase protection. In the third quarter we grew our primary customer base by 139,000. Together with the positive development of our NPS scores, including a number 1 score in the Netherlands, this is evidence that customers value our services and the digital experience that we o ﬀ er. Customer experience NPS score: Ranked #1 in 7 of 10 Retail markets Primary customers: Growth of 139,000 Sustainability is at the heart of what we do. We’re determined to be a banking leader in building a sustainable future for our company, our customers, society and the environment. After we co - advised our client Global - Connect, one of the leading digital infrastructure and data communication providers in northern Europe, on the structuring of a sustainability - linked loan last year, GlobalConnect updated its sustainability strategy in line with our recommendations. In the third quarter they mandated ING as sole sustainability structurer for both their €2.7 billion existing and €1 billion incremental fi nancing. Both transactions contribute to our year - to - date sustainable fi nance mobilised, on our way to mobilise €125 billion annually by 2025. In the fi rst nine months of 2022 we mobilised €64.5 billion, up 13% compared with the same period of 2021. Steel is a carbon - intensive sector, accounting for roughly 7% of global emissions. The decarbonisation of this sector is urgent. Over the past year, ING has led a working group to design a climate - aligned fi nance agreement for steel. Together with fi ve other banks, we signed the Sustainable STEEL Principles, which will help banks measure and report the emissions associated with their steel loan portfolios compared to net - zero pathways. A practical example of how we're helping to decarbonise the steel sector is our leading role in structuring and fi nancing a complex €3.5 billion multi - tranche ECA covered project for H2Green Steel (H2GS). H2GS is planning to build one of the world’s fi rst large - scale green steel plants. By using hydrogen created by green electricity, H2GS is planning to eliminate 95% of CO2 emissions from the steelmaking process. In Retail Banking we're o ﬀ ering eco - mortgages to stimulate more energy - e ﬃ cient homes. After earlier introductions in the Netherlands and Poland, we've now also started o ﬀ ering them in Germany and Italy. It's our aim to have sustainable alternatives for our main retail products in all markets by 2025. In addition, we’ve launched a carbon footprint calculator in the app in the Netherlands. This calculator can help create awareness on carbon literacy and is already live for 500,000 customers. Sustainability Volume mobilised €64.5 bln in 9M22 vs €57.3 bln in 9M21 Sustainability deals supported by ING: 306 in 9M22 vs 284 in 9M21 ING Press Release 3Q2022 2

Consolidated Results Consolidated results 3Q2022 3Q2021 Change 2Q2022 Change 9M2022 9M2021 Change Profit or loss (in € million) Net interest income 3,332 3,388 - 1.7% 3,465 - 3.8% 10,212 10,241 - 0.3% Net fee and commission income 876 882 - 0.7% 888 - 1.4% 2,698 2,592 4.1% Investment income 111 74 50.0% 31 258.1% 171 123 39.0% Other income 93 304 - 69.4% 297 - 68.7% 612 911 - 32.8% Total income 4,412 4,648 - 5.1% 4,682 - 5.8% 13,694 13,866 - 1.2% Expenses excl. regulatory costs 2,533 2,565 - 1.2% 2,524 0.4% 7,353 7,365 - 0.2% Regulatory costs 1) 96 121 - 20.7% 214 - 55.1% 958 880 8.9% Operating expenses 2,629 2,685 - 2.1% 2,738 - 4.0% 8,311 8,245 0.8% Gross result 1,783 1,962 - 9.1% 1,944 - 8.3% 5,382 5,621 - 4.3% Addition to loan loss provisions 2) 403 39 933.3% 202 99.5% 1,592 170 836.5% Result before tax 1,380 1,924 - 28.3% 1,743 - 20.8% 3,791 5,452 - 30.5% Taxation 427 521 - 18.0% 530 - 19.4% 1,151 1,526 - 24.6% Non - controlling interests - 26 35 - 174.3% 34 - 176.5% 54 94 - 42.6% Net result 979 1,367 - 28.4% 1,178 - 16.9% 2,586 3,832 - 32.5% Profitability and efficiency Interest margin 1.28% 1.38% 1.36% 1.34% 1.40% Cost/income ratio 59.6% 57.8% 58.5% 60.7% 59.5% Risk costs in bps of average customer lending 25 3 13 33 4 Return on equity based on IFRS - EU equity 3) 7.7% 10.4% 9.2% 6.7% 9.8% ING Group common equity Tier 1 ratio 14.7% 15.8% 14.7% 14.7% 15.8% Risk - weighted assets (end of period, in € billion) 338.6 310.5 9.0% 335.9 0.7% 338.6 310.5 9.0% Customer balances (in € billion) Customer lending 649.7 619.2 4.9% 642.9 1.1% 649.7 619.2 4.9% Customer deposits 664.3 620.1 7.1% 642.1 3.5% 664.3 620.1 7.1% Net core lending growth (in € billion) 4) 4.7 3.1 10.1 15.1 17.2 Net core deposits growth (in € billion) 4) 10.5 - 0.6 8.1 17.9 12.4 1) Regulatory costs comprise bank taxes and contributions to the deposit guarantee schemes (‘DGS’) and the (European) single resolution fund (‘SRF’). 2) The amount presented in 'Addition to loan loss provisions' is equivalent to risk costs. 3) Annualised net result divided by average IFRS - EU shareholders' equity excluding reserved pro fi ts not included in CET1 capital. 4) Net core lending growth represents the development in loans and advances to customers excluding provisions for loan losses, adjusted for currency impacts, Treasury and run - o ﬀ portfolios. Net core deposits growth represents customer deposits adjusted for currency impacts, Treasury and run - o ﬀ portfolios. Total income Total income in 3Q2022 was €4,412 million. Without two exceptional items this quarter, it would have been €5,043 million, supported by higher net interest income on liabilities and including positive currency impacts. The fi rst exceptional item was € - 343 million in net interest income for the expected impact from new moratorium regulation imposed by the Polish government, which o ﬀ ers customers the right to suspend up to eight instalment payments on their mortgage loans. Second, other income included an impact of € - 288 million to unwind a macro fair value hedge of deposits, which leads to a timing di ﬀ erence with expected fair value movements on the hedging instruments. The mirroring positive impact of €288 million will be recognised over the coming years. Net interest income, when excluding the impact of the Polish moratorium, increased mainly as a result of strongly improved liability margins. Year - on - year, net interest income was also supported by higher interest results from FX ratio hedging, re fl ecting higher interest rate di ﬀ erentials, mainly on the US dollar and Polish zloty. Net interest income from mortgages declined, albeit at a slower pace than in the previous two quarters, re fl ecting higher funding costs and a lower level of income from prepayment penalties. Interest income from other lending decreased, as higher average volumes could not fully compensate for lower margins. Net interest income included a €71 million bene fi t from the TLTRO III programme compared with an €84 million bene fi t in 3Q2021 and €76 million in 2Q2022. - 1,000 3,388 3,374 3,415 3,465 3,675 3Q2021 4Q2021 1Q2022 2Q2022 3Q2022 Net interest income excl. Polish moratorium Net interest income Polish moratorium Net interest margin Net interest margin excl. Polish moratorium - 343 1.36% 1.38% 1.42% 1.37% 1.37% 1.38% 1.28% 0 1.1 1,000 1.2 2,000 1.3 3,000 1.37% 1.37% 1.36% 1.4 The net interest margin was 1.28% in 3Q2022. Excluding the impact of the Polish moratorium, this would have been 1.42%, up from 1.36% in the previous quarter, re fl ecting higher interest income on liabilities. In line with 2Q2022, the TLTRO III bene fi t contributed three basis points to the net interest margin. Net interest income (in € million) and net interest margin (in %) 4,000 1.5 1.0 Net core lending growth - which excludes FX impacts and movements in Treasury lending as well as in the run - o ﬀ ING Press Release 3Q2022 3

Consolidated Results portfolios - was €4.7 billion in 3Q2022. Net core lending growth in Retail Banking was €0.9 billion and consisted of €1.9 billion of growth in residential mortgages (primarily in Germany and the Netherlands) and € - 1.0 billion in other retail lending. In Wholesale Banking, net core lending growth was €3.8 billion, re fl ecting a strong increase in Lending. Net core deposits growth – which excludes FX impacts and movements in Treasury deposits as well as in the run - o ﬀ portfolios – was €10.5 billion in 3Q2022. The growth in Retail Banking amounted to €6.8 billion and was mainly attributable to Germany, Australia and Poland. Wholesale Banking recorded a net in fl ow of €3.6 billion, mainly re fl ecting higher balances at Bank Mendes Gans and in Financial Markets. Net fee and commission income amounted to €876 million. The growth in daily banking fees due to higher fees for payment packages and new service fees was o ﬀ set by lower fees on investment products, re fl ecting low stock markets and subdued trading activity. Fee income for Wholesale Banking was fl at year - on - year; however, it rose quarter - on - quarter, driven by business growth in Lending. Investment income in 3Q2022 included a €111 million annual dividend from our stake in the Bank of Beijing. The third quarter of 2021 had included a €97 million annual dividend from Bank of Beijing as well as € - 34 million related to the transfer of ING’s retail banking operations in Austria to bank99. Other income was €93 million in 3Q2022 and included the hedge accounting impact of € - 288 million, €100 million income from the transfer of our investment business in France to Boursorama, a € - 43 million IAS 29 impact to re fl ect hyperin fl ation in Turkey (versus € - 247 million in 2Q2022) and a €15 million impairment on ING’s equity stake in TTB. Excluding the aforementioned items, other income was almost fl at on 3Q2021, but it declined on 2Q2022 as the previous quarter was supported by strong trading results and positive marked - to - market adjustments in Financial Markets. Operating expenses Total operating expenses were € 2 , 629 million, including € 96 million of regulatory costs and € 85 million of incidental cost items . Expenses excluding regulatory costs and incidental items were €2,448 million and rose 5.0% year - on - year. Approximately half of the increase was attributable to higher sta ﬀ costs, due to CLA increases and indexation as well as limited FTE growth. The remaining increase was primarily caused by a weakening of the euro and higher litigation costs this quarter. Compared with 2Q2022, the cost growth was 3.5%, primarily attributable to higher sta ﬀ and marketing costs. 1,500 2,000 2,500 3,000 Operating expenses (in € million) 2,296 649 159 214 2,365 2,448 96 2,331 121 233 2,396 3Q2021 4Q2021 1Q2022 2Q2022 3Q2022 Expenses excl. regulatory costs and incidental items Regulatory costs Incidental items 385 166 85 Operating expenses in 3Q2022 included €85 million of incidental items, of which €75 million was for adding the interest - on - interest e ﬀ ect to the compensation for customers on certain Dutch consumer credit products, as previously announced. The remaining €10 million re fl ects the hyperin fl ation impact (IAS 29) on expenses in Turkey. By comparison, 3Q2021 had included €233 million of incidental cost items, including a €180 million provision for the aforementioned compensation to customers on certain Dutch consumer credit products. In 2Q2022, incidental item costs amounted to €159 million, mainly re fl ecting restructuring costs. Regulatory costs decreased by €25 million year - on - year, mainly because of a lower contribution to the deposit guarantee scheme in Germany. Compared with 2Q2022, which included a €92 million contribution to the Institutional Protection Scheme in Poland, regulatory costs were €118 million lower. Addition to loan loss provisions Net additions to loan loss provisions amounted to €403 million in 3Q2022, equivalent to 25 basis points of average customer lending. This was mainly driven by €244 million of Stage 3 individual risk costs, including the review of existing Stage 3 fi les considering the more negative macroeconomic outlook. The update of the macroeconomic indicators resulted in a net addition of €116 million to the collective provisions. Furthermore, the overlay for risks from secondary impacts of the deteriorated macroeconomic outlook (such as an increase in energy prices, higher interest rates and in fl ation) was increased by €89 million, primarily in Retail Banking. The aforementioned increases were partly o ﬀ set, mainly by a €77 million release of Stage 2 provisions for the Russian portfolio, re fl ecting a further decrease in our Russia - related exposure. - 500 0 500 1,000 Addition to loan loss provisions (in € million) 403 39 987 3Q2021 4Q2021 1Q2022 2Q2022 3Q2022 Stage 3 2 %# 9 A ',!*3"',% - oR * ,!#R1&##2 '1) ! - 121 ', .1 - $ 4#0 %# !312 - +#0 *#,"',% I ,,3 *'1#"K 346 62 3 22 25 202 13 - 50 0 50 100 ING Press Release 3Q2022 4

Consolidated Results Net result The net result in 3Q2022 was €979 million, including the impact from the Polish moratorium and hedge accounting as well as higher risk costs. The e ﬀ ective quarterly tax rate was 30.9% compared with 27.1% in 3Q2021 and 30.4% in 2Q2022, mainly caused by the hyperin fl ation impact in Turkey, which is not deductible for corporate income tax purposes. Return on equity ING Group (in %) 15 0 5 10 9.2 8.0 7.5 8.8 10.4 7.2 3.3 9.2 7.7 3Q2021 4Q2021 1Q2022 2Q2022 3Q2022 Return on IFRS - EU equity (quarter) Return on IFRS - EU equity (4 - quarter rolling average) 6.8 In 3Q2022, ING’s return on average IFRS - EU equity was 7.7%. On a four - quarter rolling average basis, the return on ING’s average IFRS - EU equity declined to 6.8% from 7.5% in the previous period. This was due to a lower four - quarter rolling net result. ING’s return on equity is calculated using IFRS - EU shareholders' equity after excluding 'reserved pro fi t not included in CET1 capital', which amounted to €848 million as per the end of 3Q2022. This fi gure re fl ects 50% of the resilient net pro fi t in the fi rst nine months of 2022, which has been reserved for distribution in line with our policy, minus the 2022 interim dividend paid in August. Resilient net pro fi t is de fi ned as net pro fi t adjusted for signi fi cant items that are not linked to the normal course of business. In line with this de fi nition, and consistent with the prior quarter, the impact of hyperin fl ation accounting has been excluded. Therefore, resilient net pro fi t is €53 million higher than net pro fi t. ING Press Release 3Q2022 5

Consolidated Balance Sheet Balance sheet In 3Q2022, ING’s balance sheet increased by €38.8 billion to €1,058.8 billion, including €6.6 billion of positive currency impacts (mainly due to the appreciation of the US dollar against the euro). The increase was largely caused by higher fi nancial assets at fair value through pro fi t or loss, which were primarily trading assets (mainly related to an increase in client business and in the volatility of interest and FX rates). An increase was also recorded in cash and balances with central banks, re fl ecting a higher amount of deposits placed by Treasury. Customer lending rose by €6.8 billion, including €4.0 billion of positive currency impacts. Residential mortgages decreased by €1.5 billion as the €2.8 billion negative fair value adjustment of the hedged portion of the mortgage portfolio (related to higher interest rates) more than o ﬀ set €1.4 billion of growth in other residential mortgages, mainly in Retail Germany and the Netherlands. Excluding residential mortgages, other customer lending increased by €8.3 billion, primarily in Wholesale Banking Lending, spread across geographies. Volumes in Trade & Commodity Finance decreased because of lower commodity prices. On the liability side of the balance sheet, the main increases were recorded in customer deposits and fi nancial liabilities at fair value through pro fi t or loss (mainly higher trading liabilities, driven by more client business and increased volatility of interest and FX rates). Deposits from banks and subordinated loans also increased; the latter included the €1.0 billion Tier 2 green bond issuance on 24 August. These increases were partly o ﬀ set by a lower amount of debt securities in issue due to a reduction in certi fi cates of deposits and commercial paper. Customer deposits rose by €22.3 billion, including €1.4 billion of negative currency impacts. This growth was mainly driven by increases in Treasury (€+16.1 billion). Customer deposits for Wholesale Banking excluding Treasury grew by €3.4 billion, predominantly in current accounts and Financial Markets. Retail Banking excluding Treasury increased by €2.8 billion, mainly through growth in Germany that was only partly o ﬀ set by an out fl ow in Retail France. Shareholders’ equity Change in shareholders’ equity in € million 3Q2022 9M2022 Shareholders' equity beginning of period 51,628 53,919 Net result for the period 979 2,586 (Un)realised gains/losses fair value through OCI - 241 - 504 (Un)realised other revaluations 3 - 6 Change in cash fl ow hedge reserve - 714 - 2,791 Change in liability credit reserve 32 252 De fi ned bene fi t remeasurement - 149 - 116 Exchange rate di ﬀ erences 376 1,925 Change in treasury shares - 15 - 380 Change in employee stock options and share plans 9 22 Dividend - 634 - 3,052 Other changes 16 - 563 Total changes - 336 - 2,626 Shareholders' equity end of period 51,292 51,292 Consolidated balance sheet ING Press Release 3Q2022 6 in € million 30 Sep. 22 30 Jun. 22 31 Dec. 21 30 Sep. 22 30 Jun. 22 31 Dec. 21 Assets Cash and balances with central banks Loans and advances to banks Financial assets at fair value through pro fi t or loss - trading assets - non - trading derivatives - designated as at fair value through pro fi t or loss - mandatorily at fair value through pro fi t or loss Financial assets at fair value through OCI - equity securities fair value through OCI - debt securities fair value through OCI - loans and advances fair value through OCI Securities at amortised cost Loans and advances to customers - customer lending - provision for loan losses Investments in associates and joint ventures Property and equipment Intangible assets Other assets 135,089 26,244 156,714 71,397 3,313 6,831 75,173 31,147 1,900 28,494 752 47,895 643,677 649,662 - 5,985 1,473 2,500 1,106 12,984 126,030 22,966 138,628 60,733 2,693 6,565 68,636 30,745 2,065 27,876 805 48,371 637,000 642,867 - 5,867 1,477 2,562 1,119 11,167 106,520 23,592 101,956 51,381 1,536 6,355 42,684 30,635 2,457 27,340 838 48,319 627,508 632,782 - 5,274 1,587 2,515 1,156 7,502 Liabilities Deposits from banks Customer deposits - savings accounts - credit balances on customer accounts - corporate deposits - other Financial liabilities at fair value through pro fi t or loss - trading liabilities - non - trading derivatives - designated as at fair value through pro fi t or loss Other liabilities Debt securities in issue Subordinated loans 91,778 664,344 311,854 290,353 61,359 778 126,180 55,221 5,524 65,436 18,475 89,811 16,571 90,513 642,076 306,629 290,285 43,665 1,497 107,982 45,261 4,501 58,219 18,856 93,123 15,473 85,092 617,296 314,893 279,805 22,174 424 71,041 27,113 2,120 41,808 14,707 91,784 16,715 Total liabilities 1,007,160 968,023 896,635 Equity Shareholders' equity Non - controlling interests 51,292 378 51,628 413 53,919 736 Total equity 51,670 52,042 54,654 Total assets 1,058,830 1,020,064 951,290 Total liabilities and equity 1,058,830 1,020,064 951,290

ING Press Release 3Q2022 7 Consolidated Balance Sheet Shareholders’ equity in 3Q2022 decreased by €336 million, with a €714 million decline in the cash fl ow hedge reserve (related to increased interest rates) and a €634 million payment for the interim dividend over 2022. These decreases were largely o ﬀ set by the third - quarter 2022 net result of € 979 million . The € 380 million share buyback programme, which started on 12 May 2022 , was completed on 14 July 2022 . Shareholders’ equity per share decreased to € 13 . 77 on 30 September 2022 from € 13 . 79 on 30 June 2022 .

Capital, Liquidity and Funding ING Group: Capital position in € million 30 Sep. 2022 30 Jun. 2022 Shareholders' equity (parent) 51,292 51,628 - Reserved pro fi ts not included in CET1 capital - 848 - 965 - Other regulatory adjustments - 515 - 1,249 Regulatory adjustments - 1,363 - 2,214 Available common equity Tier 1 capital 49,929 49,414 Additional Tier 1 securities 6,885 6,461 Regulatory adjustments additional Tier 1 58 59 Available Tier 1 capital 56,873 55,935 Supplementary capital - Tier 2 bonds 10,228 9,168 Regulatory adjustments Tier 2 - 34 - 44 Available Total capital 67,067 65,059 Risk - weighted assets 338,561 335,898 Common equity Tier 1 ratio 14.7% 14.7% Tier 1 ratio 16.8% 16.7% Total capital ratio 19.8% 19.4% Leverage Ratio 5.0% 5.1% Capital ratios The CET 1 ratio was 14 . 7 % on 30 September 2022 , stable compared with 30 June 2022 , as higher CET 1 capital was o ﬀ set by higher RWA . CET 1 capital increased mainly due to the inclusion of € 0 . 5 billion of interim pro fi ts . Note that shareholders’ equity was impacted by lower revaluation reserves on cash fl ow hedges (€ - 0 . 7 billion), but since this is reversed in 'other regulatory adjustments', it has no impact on CET 1 capital . The improvement in the Tier 1 ratio mirrors trends in the CET1 ratio and was furthermore impacted by the appreciation of the US dollar, as additional Tier 1 securities are generally issued in US dollar. The increase in the Total capital ratio includes the issuance of a Green Tier 2 instrument (€1.0 billion). The leverage ratio decreased as the higher leverage exposure was only partly o ﬀ set by higher Tier 1 Capital. Risk - weighted assets (RWA) The increase in total RWA mainly re fl ects the FX impact on credit RWA. ING Group: Composition of RWA ING Press Release 3Q2022 8 in € billion 30 Sep. 2022 30 Jun. 2022 Credit RWA 291.8 288.3 Operational RWA 32.7 30.7 Market RWA 14.0 16.9 Total RWA 338.6 335.9 The FX impact on credit RWA was € 3 . 1 billion, and was mainly driven by the appreciation of the US dollar . Excluding currency impacts, credit RWA increased by € 0 . 4 billion . The increase in operational RWA (€2.0 billion) was due to regular updates to the AMA model. The decline in market RWA (€ - 2.9 billion) was mainly caused by a decrease in the capital multiplier for trading book positions. Distribution ING has reserved €516 million of the 3Q2022 net pro fi t for distribution. The resilient net pro fi t in 3Q2022 (which is de fi ned as net pro fi t adjusted for signi fi cant items not linked to the normal course of business) was €1,032 million, and includes a positive adjustment to the reported net result of €53 million related to hyperin fl ation accounting according to IAS 29 in the consolidation of our subsidiary in Turkey. Following our distribution policy, an interim dividend over 1H2022 of €0.17 per ordinary share was paid on 15 August 2022 (representing approximately 1/3 of the 1H2022 resilient net pro fi t). ING announced today the start of a share buyback programme under which it plans to repurchase ordinary shares of ING Groep, with a maximum total amount of €1.5 billion. Any remaining amount of the programme after 31 December 2022 will be paid out in cash to shareholders on 16 January 2023. CET1 requirement Following this announcement, €1.5 billion is deducted from our CET1 capital, resulting in a pro forma CET1 ratio of 14.3%. ING targets a CET1 ratio of around 12.5%, which is comfortably above the prevailing CET1 ratio requirement (including bu ﬀ er requirements) of 10.52% (2Q2022: 10.51%). ING’s fully - loaded CET1 requirement increased to 10.96% (2Q2022: 10.94%). The increases in the countercyclical bu ﬀ ers, which were announced earlier by various macro prudential authorities, will phase in over the coming quarters.

Capital, Liquidity and Funding TLAC and MREL requirements Minimum Required Eligible Liabilities (MREL) and Total Loss - Absorbing Capacity (TLAC) requirements apply to ING Group at the consolidated level of the resolution group. The available MREL and TLAC capacity consists of own funds and senior debt instruments issued by ING Group. The intermediate MREL requirements are 27.33% of RWA and 5.97% of leverage exposure (LR). The MREL surplus based on RWA mirrors trends in the Total capital ratio and was further impacted by the issuance of a GBP senior debt instrument (€0.3 billion) and some instruments that lost MREL eligibility (maturity <1 year). The MREL surplus based on LR mirrors trends in the leverage ratio. ING Group: MREL requirement in € million 30 Sep. 2022 30 Jun. 2022 MREL capacity 105,396 104,743 MREL (as a percentage of RWA) 31.1% 31.2% MREL (as a percentage of leverage exposure) 9.2% 9.6% MREL surplus (shortage) based on LR 37,005 39,273 MREL surplus (shortage) based on RWA 12,880 12,975 The prevailing TLAC requirements are 23.04% of RWA and 6.75% of LR. The development in TLAC ratios mirrors the trends in MREL. ING Group: TLAC requirement in € million 30 Sep. 2022 30 Jun. 2022 TLAC capacity 105,331 104,091 TLAC (as a percentage of RWA) 31.1% 31.0% TLAC (as a percentage of leverage exposure) 9.2% 9.5% TLAC surplus (shortage) based on LR 28,005 30,068 TLAC surplus (shortage) based on RWA 27,339 26,743 Liquidity and funding In 3Q2022, the 12 - month moving average Liquidity Coverage Ratio (LCR) decreased from 136% to 133% due to higher stressed out fl ow. LCR 12 - month moving average in € billion 30 Sep. 2022 30 Jun. 2022 Level 1 171.5 167.4 Level 2A 6.3 6.1 Level 2B 5.2 5.7 Total HQLA 183.0 179.2 Stressed Out fl ow 235.6 225.5 Stressed In fl ow 98.2 93.8 LCR 133% 136% In 3Q2022 the Net Stable Funding Ratio of ING remained comfortably above the regulatory minimum of 100%. The funding mix remained largely stable in 3Q2022. ING Group: Loan - to - deposit ratio and funding mix In % 30 Sep. 2022 30 Jun. 2022 Loan - to - deposit ratio 0.97 0.99 Key figures Customer deposits (retail) 47% 48% Customer deposits (corporate) 24% 23% Lending / repurchase agreements 8% 8% Interbank 9% 9% CD/CP 3% 3% Long - term senior debt 8% 8% Subordinated debt 2% 2% Total 1) 100% 100% 1) Liabilities excluding trading securities and IFRS equity. ING’s long - term debt position increased by €4.1 billion versus 2Q2022. The increase was driven by €1.0 billion Tier 2 issuance in green format, £300 million Holdco Senior and €2.0 billion covered bond issuance (of which €1.0 billion in green format by ING DiBa and €1.0 billion by ING Bank). Long - term debt maturity ladder per currency, 30 September 2022 in € billion Total ʹ 22 ʹ 23 ʹ 24 ʹ 25 ʹ 26 '27 > ʹ 27 EUR 57 0 5 1 5 5 4 36 USD 22 2 3 1 0 4 3 9 Other 9 0 1 1 1 2 0 3 Total 88 2 9 3 6 11 8 48 Ratings The ratings and outlook from S&P, Moody’s and Fitch remained unchanged during the quarter. S&P Moody's Fitch ING Groep N.V. Issuer rating Long - term A - n/a A+ Short - term A - 2 n/a F1 Outlook Stable Stable 1) Stable Senior unsecured rating A - Baa1 A+ ING Bank N.V. Issuer rating Long - term A+ A1 AA - Short - term A - 1 P - 1 F1+ Outlook Stable Stable Stable Senior unsecured rating A+ A1 AA - Credit ratings of ING on 2 November 2022 ING Press Release 3Q2022 9 1) Outlook refers to the senior unsecured rating.

Risk Management in € million 30 Sep. 2022 30 Jun. 2022 30 Sep. 2022 30 Jun. 2022 30 Sep. 2022 30 Jun. 2022 30 Sep. 2022 30 Jun. 2022 30 Sep. 2022 30 Jun. 2022 Residential mortgages of which Netherlands of which Belgium of which Germany of which Rest of the world Consumer lending Business lending of which business lending Netherlands of which business lending Belgium Other retail banking 327,027 112,959 43,041 90,244 80,783 26,674 100,377 36,932 44,694 55,590 325,543 112,518 42,690 88,745 81,590 26,815 101,634 37,093 45,750 51,563 11,666 2,583 5,982 1,486 1,615 2,134 12,496 4,906 4,719 3,215 9,769 2,703 4,295 1,302 1,469 1,876 10,534 4,442 4,273 620 3.6% 2.3% 13.9% 1.6% 2.0% 8.0% 12.4% 13.3% 10.6% 5.8% 3.0% 2.4% 10.1% 1.5% 1.8% 7.0% 10.4% 12.0% 9.3% 1.2% 2,873 504 1,171 355 843 1,051 3,078 867 1,579 179 3,140 686 1,211 348 896 1,120 2,953 731 1,561 182 0.9% 0.4% 2.7% 0.4% 1.0% 3.9% 3.1% 2.3% 3.5% 0.3% 1.0% 0.6% 2.8% 0.4% 1.1% 4.2% 2.9% 2.0% 3.4% 0.4% Retail Banking 509,669 505,555 29,510 22,799 5.8% 4.5% 7,181 7,395 1.4% 1.5% Lending Daily Banking & Trade Finance Financial Markets Treasury & Other 169,704 70,788 7,185 88,933 170,116 75,034 18,928 61,101 23,672 4,799 561 856 17,924 2,874 484 268 13.9% 6.8% 7.8% 1.0% 10.5% 3.8% 2.6% 0.4% 3,469 406 53 3,393 449 62 2.0% 0.6% 0.0% 0.1% 2.0% 0.6% 0.0% 0.1% Wholesale Banking 336,611 325,179 29,889 21,551 8.9% 6.6% 3,928 3,903 1.2% 1.2% Total loan book 846,280 830,734 59,399 44,349 7.0% 5.3% 11,109 11,298 1.3% 1.4% ING Group: Total credit outstandings 1) Credit outstandings Stage 2 Stage 2 ratio Stage 3 Stage 3 ratio 1) Lending and money market credit outstandings, including guarantees and letters of credit but excluding undrawn committed exposures (o ﬀ - balance positions) and Corporate Line. Credit risk management Total credit outstandings rose in 3Q2022, owing to an increase in cash and balances with central banks. This is mainly re fl ected in 'Treasury & Other', which also includes a transfer of €10.7 billion from Financial Markets. Stage 2 outstandings increased, primarily driven by the implementation of a stricter PD backstop methodology, which mainly concerned investment grade exposures. Stage 3 outstandings slightly decreased. In 3Q2022, ING Group’s stock of provisions rose slightly due to higher Stage 1 and Stage 2 risk costs, driven by a deteriorated macroeconomic outlook and an overlay for second - order e ﬀ ects from rising in fl ation. The Stage 3 coverage ratio increased to 32.7% compared with 32.2% in the previous quarter. The loan portfolio consists predominantly of asset - based and secured loans, including residential mortgages, project - and asset - based fi nance, and real estate fi nance with generally low loan - to - value ratios. ING Group: Stock of provisions 1) in € million 30 Sep. 2022 30 Jun. 2022 Change Stage 1 - 12 - month ECL 533 497 36 Stage 2 - Lifetime ECL not credit impaired 1,924 1,885 40 Stage 3 - Lifetime ECL credit impaired 3,638 3,635 3 Purchased credit impaired 9 5 4 Total 6,105 6,022 83 1) At the end of September 2022, the stock of provisions included provisions for loans and advances to customers (€5,985 million), provisions for loans and advances to central banks (€9 million), loans and advances to banks (€32 million), fi nancial assets at FVOCI (€28 million), securities at amortised cost (€16 million) and provisions for contingent liabilities (credit replacements) recorded under Provisions (€34 million). Market risk The average Value - at - Risk (VaR) for the trading portfolio increased to €13 million from €12 million in 2Q2022. ING Group: Consolidated VaR trading books ING Press Release 3Q2022 10 in € million Minimum Maximum Average Quarter - end Foreign exchange 3 22 4 4 Equities 2 7 4 4 Interest rate 8 13 11 9 Credit spread 3 6 4 3 Diversi fi cation - 10 - 10 Total VaR 1) 10 17 13 11 1) The total VaR for the columns Minimum and Maximum cannot be calculated by taking the sum of the individual components since the observations for both the individual markets as well as for total VaR may occur on di ﬀ erent dates. Non - fi nancial risk As previously disclosed, after our September 2018 settlement with Dutch authorities concerning Anti - Money Laundering matters, and in the context of signi fi cantly increased attention to the prevention of fi nancial economic crime, ING has experienced heightened scrutiny by authorities in various countries. The interactions with such regulatory and judicial authorities have included, and can be expected to continue to include, onsite visits, information requests, investigations and other enquiries. Such interactions, as well as ING’s internal assessments in connection with its global enhancement programme, have in some cases resulted in satisfactory outcomes. Some have also resulted in, and may continue to result in, fi ndings or other conclusions which may require appropriate remedial actions by ING, or may have other consequences. We intend to continue to work in close cooperation with authorities as we work to improve our management of non - fi nancial risks. ING is also aware, including as a result of media reports, that other parties may, among other things, seek to commence legal proceedings against ING in connection with the subject matter of the settlement.

Segment Reporting: Retail Banking Retail Benelux: Consolidated pro fi t or loss account ING Press Release 3Q2022 11 In € million Retail Benelux 3Q2022 3Q2021 2Q2022 Netherlands Belgium 3Q2022 3Q2021 2Q2022 3Q2022 3Q2021 2Q2022 Profit or loss Net interest income 1,190 1,273 1,136 745 817 721 445 456 415 Net fee and commission income 353 338 357 235 197 224 118 141 133 Investment income 2 5 15 2 5 16 0 0 0 Other income - 169 91 139 59 45 95 - 227 46 44 Total income 1,376 1,706 1,647 1,041 1,064 1,056 335 642 591 Expenses excl. regulatory costs 896 987 887 531 642 432 365 345 455 Regulatory costs 27 38 30 28 38 34 - 1 0 - 4 Operating expenses 923 1,025 917 559 680 466 364 345 450 Gross result 453 682 730 482 384 590 - 29 297 140 Addition to loan loss provisions 138 - 76 39 45 - 60 11 93 - 16 28 Result before tax 316 758 691 437 444 579 - 122 313 113 Profitability and efficiency Net core lending growth (in € billion) - 0.5 0.1 3.3 0.6 0.1 1.4 - 1.1 - 0.1 1.9 Net core deposits growth (in € billion) 0.3 0.6 7.3 0.6 1.7 6.5 - 0.4 - 1.1 0.8 Cost/income ratio 67.1% 60.1% 55.7% 53.7% 63.9% 44.1% 108.6% 53.7% 76.2% Risk costs in bps of average customer lending 22 - 12 6 12 - 16 3 41 - 7 12 Return on equity based on 12.5% CET1 1) 8.4% 22.0% 18.2% 20.5% 24.1% 26.6% - 8.6% 19.7% 6.8% Risk - weighted assets (end of period, in € billion) 86.8 84.4 83.3 51.6 44.1 48.2 35.2 40.3 35.1 1) After - tax return divided by average equity based on 12.5% of RWA (annualised). Retail Netherlands Net interest income was supported by higher liability margins and volumes, partly o ﬀ set by lower interest income from mortgages and Treasury. The decline in interest income from mortgages was mainly visible year - on - year, re fl ecting the lengthening of the duration of the book and lower prepayment penalties. The TLTRO III bene fi t was €51 million in this quarter compared with €10 million in 2Q2022 and €13 million in 3Q2021. Fee income rose strongly compared with 3Q2021, supported by a higher number of transactions, increases in payment package fees, and new service fees for business banking. Sequentially, fee income also increased, partly re fl ecting seasonally higher travel - related fees. Other income declined versus 2Q2022 due to lower Treasury - related income. Net core lending grew by €0.6 billion in 3Q2022, re fl ecting €0.8 billion of higher mortgage volumes and a €0.2 billion decline in business lending. Net core deposits growth was €0.6 billion, mainly fuelled by higher current account balances. Operating expenses included €75 million of incidental costs, re fl ecting a provision for adding the interest - on - interest e ﬀ ect to the compensation for customers on certain Dutch consumer credit products. In 3Q2021, incidental cost items had amounted to €189 million. Expenses excluding regulatory costs and the aforementioned incidental items were almost stable year - on - year. The increase compared with the previous quarter was due to higher sta ﬀ and IT - related costs. Risk costs were €45 million and increased on both comparable quarters, mainly re fl ecting increases in Stage 3 provisions for a small number of business lending clients. Retail Belgium (including Luxembourg) Net interest income was a ﬀ ected year - on - year by lending margin compression due to higher funding costs, which was only partly compensated by higher margins on liabilities. Compared with 2Q2022, interest income increased, as improved liability margins and higher Treasury - related results more than o ﬀ set lower interest income from lending. The TLTRO III bene fi t was €14 million in this quarter compared with €10 million in 2Q2022 and €17 million in 3Q2021. Fee income decreased on both comparable quarters. This was almost entirely due to lower fees on investment products, re fl ecting low stock markets and subdued trading activity. Other income included an impact of € - 247 million (with another € - 41 million in Wholesale Banking) to unwind a macro fair value hedge. The mirroring positive impact will be recognised over the coming years. The third quarter of 2021 had included a €25 million capital gain on the sale of an associate. Net core lending decreased by €1.1 billion compared with 2Q2022, as a €0.3 billion growth in mortgages was more than o ﬀ set by a €1.4 billion decline in business lending. Net core deposits growth was € - 0.4 billion and mainly re fl ected lower current account balances. Operating expenses rose year - on - year, re fl ecting higher sta ﬀ - related costs (driven by indexation) and higher marketing costs. Sequentially, expenses sharply decreased because 2Q2022 had included €97 million of incidental cost items. Risk costs were €93 million, caused by management overlays for mortgages and an increase in Stage 3 provisions for a small number of business lending clients.

Segment Reporting: Retail Banking Retail Germany (including Austria in 2021) Net interest income rose strongly on the back of increased margins on liabilities and higher interest income from Treasury, partly o ﬀ set by tightening lending margins. Fee income was a ﬀ ected by market uncertainty, which was re fl ected in a lower number of brokerage trades in investment products and reduced fees from mortgages due to lower brokerage volumes. Year - on - year, this was partly compensated by higher daily banking fees. In 3Q2021, investment income had included a €34 million loss related to the transfer of our retail operations in Austria to bank99. Other income re fl ects lower Treasury - related revenues. Net core lending growth in 3Q2022 was €1.7 billion, of which €1.5 billion was in mortgages. Net core deposits grew by €4.4 billion. Operating expenses decreased year - on - year on the back of lower regulatory expenses, re fl ecting an adjustment of the deposit guarantee contributions in 3 Q 2022 . Expenses excluding regulatory costs increased slightly, as higher sta ﬀ costs and investments in operational process improvements and business growth were partially compensated by savings from the discontinuation of the Austrian retail banking activities. Sequentially, operating expenses declined, primarily due to lower regulatory expenses. Risk costs were €43 million in 3Q2022, including an increase in management overlays for risks from secondary impacts of the deteriorated macroeconomic outlook. Retail Other Challengers & Growth Markets Net interest income in 3Q2022 included € - 343 million for the aforementioned Polish moratorium. Excluding this impact, net interest income increased on both comparable quarters, supported by higher margins on liabilities, notably in Australia and Spain after increases in central bank interest rates . This more than compensated for negative currency impacts and tighter lending margins . Fee income was relatively stable year - on - year, as higher fees from daily banking and insurance products were o ﬀ set by lower fee income from investment products, re fl ecting low stock markets and subdued trading activity. Investment income in both 3Q2022 and 3Q2021 included the annual dividend from our stake in the Bank of Beijing (€111 million and €97 million, respectively). Other income in 3Q2022 included €100 million income from the transfer of our investment business in France. Furthermore, 3Q2022 included €38 million of proceeds from the sale of a non - performing loan portfolio in Spain and a €15 million impairment on our equity stake in TTB. Net core lending decreased by €0.3 billion in 3Q2022, mainly due to lower mortgage production in Australia. Net core deposits growth was €2.2 billion, driven by net in fl ows in Australia and Poland. Expenses excluding regulatory costs in 3Q2022 included €21 million for a litigation provision in Spain, while 2Q2022 included €18 million of restructuring provisions. Excluding these incidental items, expenses rose versus both comparable quarters due to in fl ationary pressure across all markets as well as investments in operational process improvements in Australia. Regulatory costs increased year - on - year, mainly in Poland, while 2Q2022 included a €92 million contribution to the Institutional Protection Scheme in Poland. Risk costs were €94 million, primarily attributable to net additions in Poland and Spain, which were mainly due to management overlays to re fl ect the risks from secondary impacts of the deteriorated macroeconomic outlook. Retail Challengers & Growth Markets: Consolidated pro fi t or loss account ING Press Release 3Q2022 12 In € million Retail Challengers & Growth Markets 3Q2022 3Q2021 2Q2022 Germany Other Challengers & Growth Markets 3Q2022 3Q2021 2Q2022 3Q2022 3Q2021 2Q2022 Profit or loss Net interest income 869 1,039 1,104 437 365 351 433 675 754 Net fee and commission income 230 247 253 99 115 113 131 133 140 Investment income 110 67 6 - 1 - 32 1 111 98 5 Other income 192 92 101 - 19 15 37 210 77 64 Total income 1,401 1,446 1,465 516 463 502 885 983 963 Expenses excl. regulatory costs 799 747 798 256 254 265 543 493 533 Regulatory costs 58 75 169 - 4 20 27 62 55 142 Operating expenses 857 822 967 253 274 291 605 548 675 Gross result 543 624 498 263 189 210 280 435 288 Addition to loan loss provisions 136 96 74 43 23 13 94 72 61 Result before tax 407 528 423 220 166 197 187 363 227 Profitability and efficiency Net core lending growth (in € billion) 1.4 4.7 3.8 1.7 2.2 2.0 - 0.3 2.5 1.8 Net core deposits growth (in € billion) 6.6 - 2.5 1.4 4.4 - 4.3 0.5 2.2 1.8 0.9 Cost/income ratio 61.2% 56.8% 66.0% 49.0% 59.2% 58.1% 68.3% 55.7% 70.1% Risk costs in bps of average customer lending 26 19 14 17 10 5 34 28 22 Return on equity based on 12.5% CET1 1) 13.1% 17.2% 13.1% 19.6% 11.9% 17.2% 9.2% 20.6% 10.6% Risk - weighted assets (end of period, in € billion) 77.5 78.1 77.3 29.7 30.4 29.2 47.8 47.7 48.1 1) After - tax return divided by average equity based on 12.5% of RWA (annualised).

Segment Reporting: Wholesale Banking Net interest income rose both year - on - year and sequentially, mainly driven by increased income in Payments and Cash Management (PCM), which bene fi ted from higher interest rates. Interest income was also supported by positive FX impacts and a €25 million TLTRO III bene fi t, compared with a €39 million TLTRO III bene fi t in 3Q2021 and €36 million in 2Q2022. Net fee and commission income remained stable year - on - year, as higher fees in Lending and Daily Banking & Trade Finance compensated for a lower deal fl ow in both Global Capital Markets and Corporate Finance. Sequentially, commission income increased, mainly due to higher fees in Lending and Financial Markets. Other income increased year - on - year, driven primarily by higher trading income in Financial Markets and positive fair value adjustments in Lending and in Corporate Investments. These impacts were partly o ﬀ set by negative valuation adjustments in Financial Markets. Furthermore, Treasury & Other included € - 41 million of the hedge accounting impact in Belgium. Sequentially, other income declined, mainly due to lower Financial Markets results, as both trading income and positive valuation adjustments were exceptionally high in the previous quarter. In addition, Treasury & Other contained the aforementioned hedge accounting impact, while Lending included a positive FX revaluation result in the prior quarter. Net core lending grew by €3.8 billion in 3Q2022, including a €5.7 billion increase in Lending. This was partly o ﬀ set by lower net core lending in Daily Banking & Trade Finance, predominantly in Trade & Commodity Finance, re fl ecting the negative impact of the geopolitical climate and lower commodity prices. Net customer deposits showed an in fl ow of €3.6 billion, primarily in Bank Mendes Gans and Financial Markets. Expenses had included incidental items in the prior quarters: €58 million for an impairment and legal provisions in 3Q2021 and €20 million of legal provisions in 2Q2022. Excluding these exceptional items, as well as the impact of the weakening of the euro, expenses increased 6.5% compared with 3Q2021 and rose 3.8% compared with 2Q2022. This was mainly attributable to higher sta ﬀ costs, due to CLA increases and indexation as well as limited front o ﬃ ce FTE growth. Net additions to loan loss provisions amounted to €128 million, which is equivalent to 27 basis points of average customer lending. Risk costs in 3Q2022 were predominantly due to additions in Stage 3, including the impact of the reassessment of existing fi les in light of the more negative macroeconomic outlook. This increase was partly compensated by net releases in Stage 2, which were mainly driven by a decrease of our Russia - related exposure. In € million 3Q2022 3Q2021 2Q2022 Profit or loss Net interest income 1,124 1,042 1,078 Net fee and commission income 295 295 280 Investment income - 1 3 7 Other income 138 124 367 Total income 1,556 1,463 1,732 of which: Lending 819 805 793 Daily Banking & Trade Finance 437 316 402 Financial Markets 282 265 443 Treasury & Other 19 77 94 Total income 1,556 1,463 1,732 Expenses excl. regulatory costs 708 700 694 Regulatory costs 10 7 15 Operating expenses 718 707 708 Gross result 838 756 1,024 Addition to loan loss provisions 128 19 88 Result before tax 710 737 935 Profitability and efficiency Net core lending growth (in € billion) 3.8 - 1.6 3.0 Net core deposits growth (in € billion) 3.6 1.4 - 0.6 Cost/income ratio 46.1% 48.3% 40.9% Income over average risk - weighted assets (in bps) 1) 374 409 419 Risk costs in bps of average customer lending 27 4 19 Return on equity based on 12.5% CET1 2) 10.1% 12.1% 14.2% Risk - weighted assets (end of period, in € billion) 166.3 145.0 166.7 Wholesale Banking: Consolidated pro fi t or loss account ING Press Release 3Q2022 13 Total Wholesale Banking 1) Total income divided by average RWA (annualised). 2) After - tax return divided by average equity based on 12.5% of RWA (annualised).

ING Press Release 3Q2022 14 Segment Reporting: Wholesale Banking Lending income increased both year - on - year and sequentially, primarily attributable to higher net interest income (when excluding TLTRO III) following higher volumes and positive FX impacts. In 3Q2022, the TLTRO III bene fi t for Wholesale Banking was recorded in Treasury & Other, while in both comparable quarters a large part of this bene fi t had been allocated to Lending: €24 million in 3Q2021 and €21 million in 2Q2022. Other income was supported by a €20 million fair value adjustment, while 2Q2022 included a positive FX revaluation result. Sequentially, total income was also bolstered by higher fee income. Daily Banking & Trade Finance income increased strongly both year - on - year and sequentially, predominantly driven by higher PCM income that bene fi ted from increased interest rates and higher average deposit levels. Compared with one year ago, 3Q2022 included higher income in Bank Mendes Gans, partly as a result of higher customer balances. Interest income in both comparable quarters included a TLTRO III bene fi t, whereas no bene fi t was recorded in 3Q2022. Income for Financial Markets increased year - on - year, supported by higher trading results. This was especially visible in the forex, rates and commodities business, which bene fi ted from market volatility. This increase was partly o ﬀ set by negative valuation adjustments and lower commission income from Global Capital Markets due to lower deal fl ow. Sequentially, income decreased as 2Q2022 included signi fi cant positive valuation adjustments. The TLTRO III bene fi t, which is now booked in Treasury, was €12 million in 3Q2021 and €7 million in 2Q2022. The quarterly income of Treasury & Other declined both year on - year and sequentially, mainly as a result of lower income in Treasury. The positive impact of the market volatility, interest rates hikes and a €25 million TLTRO III bene fi t was more than o ﬀ set by negative revaluations, hedge ine ﬀ ectiveness and the € - 41 million hedge accounting impact in Belgium.

Segment Reporting: Corporate Line Corporate Line: Consolidated pro fi t or loss account ING Press Release 3Q2022 15 In € million Total Corporate Line 3Q2022 3Q2021 2Q2022 Corporate Line excl. IAS 29 impact IAS 29 impact 1) 3Q2022 3Q2021 2Q2022 3Q2022 3Q2021 2Q2022 Profit or loss Net interest income 149 34 147 138 34 133 11 15 Net fee and commission income - 1 1 - 2 - 2 1 - 4 1 1 Investment income 0 0 2 0 0 2 0 0 Other income - 68 - 3 - 309 - 26 - 3 - 62 - 43 - 247 Total income 79 32 - 162 110 32 69 - 31 - 231 Expenses excl. regulatory costs 130 131 146 119 131 103 10 43 Regulatory costs 1 0 0 1 0 0 0 0 Operating expenses 130 131 146 120 131 103 10 43 Gross result - 51 - 99 - 308 - 10 - 99 - 34 - 41 - 274 Addition to loan loss provisions 1 0 0 0 0 0 1 0 Result before tax - 52 - 99 - 308 - 10 - 99 - 34 - 42 - 274 of which: Income on capital surplus - 11 5 2 - 11 5 2 0 0 Foreign currency ratio hedging 189 72 127 189 72 127 0 0 Other Group Treasury - 55 - 67 - 72 - 55 - 67 - 72 0 0 Group Treasury 123 10 56 123 10 56 0 0 Other Corporate Line - 175 - 109 - 364 - 134 - 109 - 90 - 42 - 274 Result before tax - 52 - 99 - 308 - 10 - 99 - 34 - 42 - 274 Taxation 11 2 Net result - 53 - 277 1) Hyperin fl ation accounting (IAS 29) has become applicable for ING’s subsidiary in Turkey since 2Q2022 with retrospective application from 1 January 2022. ING Group N.V., as a non - hyperin fl ationary parent presenting its consolidated fi nancial statements in euro, did not restate comparative periods. 2Q2022 includes the impact of the impairment of the in fl ated goodwill allocated to Turkey (€ - 32 million), recorded in operating expenses. Total income in 3Q2022 included a € - 31 million IAS 29 impact, re fl ecting the application of hyperin fl ation accounting in the consolidation of our subsidiary in Turkey. In the previous quarter, this IAS 29 impact amounted to € - 231 million. Excluding the IAS 29 impact, income increased on both comparable quarters, primarily driven by higher results from foreign currency ratio hedging (mainly on the US dollar and Polish zloty). Operating expenses in 3Q2022 were stable year - on - year but decreased compared with 2Q2022. The latter decline was mainly due to the impairment of the goodwill allocated to Turkey that had been recorded in 2Q2022. Excluding this impairment, operating expenses increased sequentially due to higher shareholder, one - o ﬀ restructuring and insurance expenses in 3Q2022.

ING pro fi le ING is a global fi nancial institution with a strong European base, o ﬀ ering banking services through its operating company ING Bank. The purpose of ING Bank is: empowering people to stay a step ahead in life and in business. ING Bank’s more than 58,000 employees o ﬀ er retail and wholesale banking services to customers in over 40 countries. ING Group shares are listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N). Sustainability is an integral part of ING’s strategy, evidenced by ING’s leading position in sector benchmarks. ING's Environmental, Social and Governance (ESG) rating by MSCI was a ﬃ rmed 'AA' in September 2022. As of August 2022, Sustainalytics considers ING’s management of ESG material risk to be ‘strong’, and in June 2022 ING received an ESG rating of 'strong' from S&P Global Ratings. ING Group shares are also included in major sustainability and ESG index products of leading providers Euronext, STOXX, Morningstar and FTSE Russell. Further information All publications related to ING’s 3Q2022 results can be found at www.ing.com/3q2022, including a video with CEO Steven van Rijswijk. The 'ING ON AIR’ video is also available on YouTube. Additional fi nancial information is available at www.ing.com/ir: • ING Group Historical Trend Data • ING Group Results presentation • ING Group Credit Update presentation For further information on ING, please visit www.ing.com. Frequent news updates can be found in the Newsroom or via the @ING_news Twitter feed. Photos, videos of ING operations, buildings and its executives are available for download at Flickr. Share information 3Q2022 2Q2022 1Q2022 4Q2021 3Q2021 Shares (in millions, end of period) Total number of shares 3,767.3 3,907.0 3,906.9 3,904.1 3,904.1 - Treasury shares 41.7 163.9 140.6 128.3 0.4 - Shares outstanding 3,725.6 3,743.0 3,766.4 3,775.8 3,903.6 Average number of shares 3,728.5 3,760.3 3,770.4 3,846.7 3,903.5 Share price (in euros) End of period 8.86 9.43 9.51 12.24 12.57 High 9.94 10.52 13.91 13.39 12.66 Low 8.50 8.70 8.47 11.24 10.08 Net result per share (in euros) 0.26 0.31 0.11 0.25 0.35 Shareholders' equity per share (end of period in euros) 13.77 13.79 14.20 14.28 14.20 Distribution per share (in euros) - 0.17 - 0.41 Price/earnings ratio 1) 9.5 9.2 8.8 10.0 10.8 Price/book ratio 0.64 0.68 0.67 0.86 0.88 1) Four - quarter rolling average. Financial calendar ING Press Release 3Q2022 16 Ex - date for additional cash dividend (Euronext Amsterdam) 1) Record date for additional cash dividend (Euronext Amsterdam) 1) Payment date for additional cash dividend (Euronext Amsterdam) 1) Record date for additional cash dividend (NYSE) 1) Payment date for additional cash dividend (NYSE) 1) Publication results 4Q2022 Publication 2022 ING Group Annual Report 2023 Annual General Meeting Ex - date for fi nal dividend 2022 (Euronext Amsterdam) 1) Record date for fi nal dividend 2022 entitlement (Euronext Amsterdam) 1) Record date for fi nal dividend 2022 entitlement (NYSE) 1) Payment date for fi nal dividend 2022 (Euronext Amsterdam) 1) Publication results 1Q2023 Payment date for fi nal dividend 2022 (NYSE) 1) Publication results 2Q2023 Ex - date for interim dividend in 2023 (Euronext Amsterdam) 1) Record date for interim dividend in 2023 entitlement (Euronext Amsterdam) 1) Record date for interim dividend in 2023 entitlement (NYSE) 1) Payment date for interim dividend in 2023 (Euronext Amsterdam) 1) Payment date for interim dividend in 2023 (NYSE) 1) Publication results 3Q2023 Monday, 9 January 2023 Tuesday, 10 January 2023 Monday, 16 January 2023 Tuesday, 17 January 2023 Monday, 23 January 2023 Thursday, 2 February 2023 Thursday, 9 March 2023 Monday, 24 April 2023 Wednesday, 26 April 2023 Thursday, 27 April 2023 Thursday, 27 April 2023 Friday, 5 May 2023 Thursday, 11 May 2023 Friday, 12 May 2023 Thursday, 3 August 2023 Monday, 7 August 2023 Tuesday, 8 August 2023 Monday, 14 August 2023 Monday, 14 August 2023 Monday, 21 August 2023 Thursday, 2 November 2023 1) Only if any dividend is paid All dates are provisional.

ING Press Release 3Q2022 17 Important legal information Elements of this press release contain or may contain information about ING Groep N.V. and / or ING Bank N.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/2014. 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 fi nancial information in this document, except as described otherwise, the same accounting principles are applied as in the 2021 ING Group consolidated annual accounts. All fi gures in this document are unaudited. Small di ﬀ erences are possible in the tables due to rounding. Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward - looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to di ﬀ er materially from those expressed or implied in such statements. Actual results, performance or events may di ﬀ er materially from those in such statements due to a number of factors, including, without limitation: (1) changes in general economic conditions and customer behaviour, in particular economic conditions in ING’s core markets, including changes a ﬀ ecting currency exchange rates and the regional and global economic impact of the invasion of Russia into Ukraine and related international response measures (2) e ﬀ ects of the Covid - 19 pandemic and related response measures, including lockdowns and travel restrictions, on economic conditions in countries in which ING operates, on ING’s business and operations and on ING’s employees, customers and counterparties (3) changes a ﬀ ecting interest rate levels (4) any default of a major market participant and related market disruption (5) changes in performance of fi nancial markets, including in Europe and developing markets (6) fi scal uncertainty in Europe and the United States (7) discontinuation of or changes in ‘benchmark’ indices (8) in fl ation and de fl ation in our principal markets (9) changes in conditions in the credit and capital markets generally, including changes in borrower and counterparty creditworthiness (10) failures of banks falling under the scope of state compensation schemes (11) non - compliance with or changes in laws and regulations, including those concerning fi nancial services, fi nancial economic crimes and tax laws, and the interpretation and application thereof (12) geopolitical risks, political instabilities and policies and actions of governmental and regulatory authorities, including in connection with the invasion of Russia into Ukraine and related international response measures (13) legal and regulatory risks in certain countries with less developed legal and regulatory frameworks (14) prudential supervision and regulations, including in relation to stress tests and regulatory restrictions on dividends and distributions (also among members of the group) (15) regulatory consequences of the United Kingdom’s withdrawal from the European Union, including authorizations and equivalence decisions (16) ING’s ability to meet minimum capital and other prudential regulatory requirements (17) changes in regulation of US commodities and derivatives businesses of ING and its customers (18) application of bank recovery and resolution regimes, including write - down and conversion powers in relation to our securities (19) outcome of current and future litigation, enforcement proceedings, investigations or other regulatory actions, including claims by customers or stakeholders who feel misled or treated unfairly, and other conduct issues (20) changes in tax laws and regulations and risks of non - compliance or investigation in connection with tax laws, including FATCA (21) operational and IT risks, such as system disruptions or failures, breaches of security, cyber - attacks, human error, changes in operational practices or inadequate controls including in respect of third parties with which we do business (22) risks and challenges related to cybercrime including the e ﬀ ects of cyberattacks and changes in legislation and regulation related to cybersecurity and data privacy (23) changes in general competitive factors, including ability to increase or maintain market share (24) inability to protect our intellectual property and infringement claims by third parties (25) inability of counterparties to meet fi nancial obligations or ability to enforce rights against such counterparties (26) changes in credit ratings (27) business, operational, regulatory, reputation, transition and other risks and challenges in connection with climate change and ESG - related matters (28) inability to attract and retain key personnel (29) future liabilities under de fi ned bene fi t retirement plans (30) failure to manage business risks, including in connection with use of models, use of derivatives, or maintaining appropriate policies and guidelines (31) changes in capital and credit markets, including interbank funding, as well as customer deposits, which provide the liquidity and capital required to fund our operations, and (32) the other risks and uncertainties detailed in the most recent annual report of ING Groep N.V. (including the Risk Factors contained therein) and ING’s more recent disclosures, including press releases, which are available on www.ING.com. This document may contain inactive textual addresses to internet websites operated by us and third parties. Reference to such websites is made for information purposes only, and information found at such websites is not incorporated by reference into this document. ING does not make any representation or warranty with respect to the accuracy or completeness of, or take any responsibility for, any information found at any websites operated by third parties. ING speci fi cally disclaims any liability with respect to any information found at websites operated by third parties. ING cannot guarantee that websites operated by third parties remain available following the publication of this document, or that any information found at such websites will not change following the fi ling of this document. Many of those factors are beyond ING’s control. Any forward looking statements made by or on behalf of ING speak only as of the date they are made, and ING assumes no obligation to publicly update or revise any forward - looking statements, whether as a result of new information or for any other reason . This document does not constitute an o ﬀ er to sell, or a solicitation of an o ﬀ er to purchase, any securities in the United States or any other jurisdiction .