Towards Sustainable Finance

October 2018

Wholesale Banking We empower people to stay a step ahead in life and in business

#1 Sustainable Bank “A” rating Top 9% Top 8% in in 2016 in 2017 on Climate A-list Banks categories

2 ING’s positive impact, sustainable finance offerings are growing

Green, Social, Sustainability Green Loan Sustainability Bonds Improvement Loan

Other ING sustainable finance products

Circular Sustainable Sustainable Sustainability Sustainable Product as a Finance Impact Supply Chain Ratings Investment Service Collective Finance Finance Advisory (PaaS) Asia (SFCA)

3 ING has successfully linked issuers with top notch sustainable investors

EUR Green bond league table 2018 (Source: Bloomberg, period: 1st Jan 2018 – 3rd Oct 2018)

Credited No. of Rank Bookrunner Sustainability/social/green bond transactions Volume (€m) issues 1 Credit Agricole CIB 3,748.19 19 Korea 10/18 China 09/18 France 09/18 Singapore 08/18 Austria 06/18 06/18 2 BNP Paribas 3,649.31 17 Korea Housing Finance Raiffeisen Bank China Construction Bank Groupe BPCE Sindicatum Renewable 3 ING Group 2,111.74 10 Corporation USD 1bn EUR 1250m Energy Company Pte ltd International 4 Natixis 1,841.67 9 Social Covered Bond in Progress Senior Unsecured 0.625% Local Development Senior USD 20mn EUR 500m Sustainability Bond Unsecured Bond due Sep 2023 PHP Guaranteed Green Bond 0.250% Green Senior Unsecured 5 JP Morgan 1,834.66 9 Notes due July 2021 EUR 500mn 6 Societe Generale 1,683.58 8 Senior Unsecured Green Bond 7 Citi 1,536.36 7 8 HSBC 1,455.30 13

Joint Bookrunner Joint Bookrunner Joint Bookrunner Sole Lead Manager, Green Bond Structuring Advisor, Joint Bookrunner 9 UniCredit 1,453.41 11 Bookrunner Financial Institution Financial Institution Financial Services Corporate Issuer Financial Services 10 Barclays 1,120.32 4 1

Norway 06/18 Netherlands 05/18 04/18 France 03/18 Germany 03/18 DNB Boligkreditt AS TenneT Caja Rural de Navarra Prologis Intl Funding II SA Volkswagen Immobilien EUR 1.5bn EUR 500m EUR 500m EUR 300m EUR 107m 0.625% Norwegian Green covered Bonds 1.375% Fixed Green due June 2028 0.875% Covered Bonds die May 2025 1.750% Fixed Rate Notes due Mar 2028- Green SSD multiple tranches, ranging due June 2025 EUR 750m from 5 to 15yr 2.000% Fixed Green due June 2034

Sole Green Structurer & Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner

Financial Services Corporate Issuer Financial Services Corporate Issuer Corporate

Belgium 02/18 Spain 02/18 Norway 01/18 Singapore 01/18 Italy 01/18 France 01/18 Germany 12/17 Finland 11/17 Kingdom of Belgium Autonomous Community SpareBank 1 Boligkreditt Sindicatum Renewable LBBW Fingrid OYJ EUR 4.5bn of Mardrid EUR 1bn Energy Company Pte Ltd EUR 1.25bn EUR 1.0bn EUR 750m EUR 100m 1.250% Green Senior Unsecured Notes 0.500% Norwegian Green Covered Bonds 1.125% Green Bond due Sep 2026 1.375% Green hybrid NC5.25 0.200% Green Senior Unsecured Notes 1.125% 10Y Green Bond due Apr 2023 EUR 1bn USD40mm dual - tranche due Jan 2025 due Dec 2021 1.773% Senior Unsecured Notes due INR Guaranteed Green bonds Feb 2028

Joint Bookrunner Joint Bookrunner Sole Green Structurer & Joint Bookrunner Sole Lead Manager and Bookrunner Joint Bookrunner Joint Bookrunner Joint Structurer & Bookrunner Joint Bookrunner Sovereign Issuer Sovereign Issuer Financial Services Corporate Issuer Corporate Issuer Corporate Issuer Financial Services Corporate Issuer

United States 11/17 China 11/17 Spain 11/17 Germany 09/17 UK 07/17 Singapore 07/17 Austria 07/17 Spain 03/17 Toyota Motor Credit Corp China Development Bank MANN+HUMMEL Anglian Water DBS Group Holdings Kommunalkredit Communidad de EUR600m EUR 1bn EUR 1bn EUR400m GBP 250m Limited Austria AG EUR 700m 0.00% Long 3yr Fixed Rate Green Notes 0.375% Senior Green bond due Nov 2021 1.875% Green Hybrid Perp – NC5.5 Notes Green SSD 1.625% Fixed Rate Notes due 2025 US$500mn Green Bond EUR 300m 0.747% Fixed Rate Notes due 2022 due 2021 Senior Unsecured FRN due 2022 0.375% Social Covered Bonds EUR600m due Jul 2021 0.625% 7yr Fixed Rate Notes due 2024

Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Joint Bookrunner Structurer

Corporate Issuer Financial Services Corporate Issuer Corporate Issuer Corporate issuer Financial Institution Issuer Financial Services Sovereign Issuer

Netherlands 03/17 France 03/17 Switzerland 01/17 Germany 12/16 Spain 11/16 France 10/16 China 07/16 TenneT EDF SA Bank of China Ltd Engie SA Repower Alpha Trains Finance S.A. Iberdrola S.A. Green bond EUR 1.0bn EUR 700m EUR 50m EUR 250m EUR 750m EUR 1.75bn Senior Green Bond Notes - 2.995% Green Hybrid Prep NC7.1 Notes 0.875% 7yr Green Fixed Rate Note Fixed rate, 7 & 8yr tranches Senior Secured Green Floating Rate 1.000% Green Fixed Rate Notes due 1.000% 10yr Green Fixed Rate Notes US$2.25bn EUR 800m Notes March 2024 due 2026 US$700m Floating Rate Notes Due 2019 Social bond 1.500% 11yr Green Fixed Rate Note US$500m Fixed Rate Notes Due 2019 US$1bn Fixed Rate Notes Due 2021 EUR500m EUR500m Fixed Rate Notes due 2021 Sustainability bond

Footnote: Joint Bookrunner Joint Bookrunner Lead Structurer Joint Placement Agent Joint Bookrunner Joint Bookrunner Joint Bookrunner 1. Source: Climate Bonds Initiatives Corporate Issuer Corporate Issuer Corporate Issuer Corporate Issuer Corporate Issuer Corporate Issuer Financial Issuer

4 Successfully completed 20+ Sustainability Improvement Loans and Green Loans since 2017 Ranked 2nd place on 2018YTD Bloomberg Global Green Loans League Table1

Singapore 09/18 Australia 06/18 Netherlands 05/18 UK 05/18 Russia 04/18 Switzerland 04/18 Frasers Property Macquarie Group Royal DSM Renewi plc Polymetal Adecco EUR 1bn EUR 550m USD 80m EUR 600m SGD 1.2bn GBP 500m Syndicated Secured Green Loan Facility Syndicated Green Loan Facility Sustainability Improvement Sustainability Improvement Sustainability Improvement Sustainability Improvement Loan Syndicated RCF Syndicated RCF Bilateral RCF

Joint green structuring Advisor, Joint green loan coordinator, Mandated Lead Sustainability Coordinator, BMLA Joint Sustainability Coordinator, BMLA Sole Lender Sustainability Coordinator, BMLA Arranger Mandated Lead Arranger and Bookrunner Real Estate Financial Institutions Health and nutrition Waste Management Metals and Mining Support Services

France 04/18 Singapore 03/18 France 12/17 Singapore 11/17 Spain 10/17 Belgium 10/17 Gecina Olam International Limited Casino Guichard Perrachon Wilmar Abertis Société Financière des EUR 150m USD 500m EUR 50m EUR 100m Caoutchoucs Sustainability Improvement Loan Sustainability Improvement Loan Sustainability Improvement Loan Sustainability Improvement Sustainability Improvement EUR 15m Bilateral RCF Bilateral RCF Sustainability Improvement Bilateral Term Loan

Sole Lender Sustainability Coordinator Sole Lender Sole Lender Sole Lender Sole Lender Real Estate Agri-business Retail Food Products Infrastructure Palm Oil and Rubber

Belgium 10/17 Spain 07/17 Switzerland 06/17 Netherlands 04/17 Switzerland 04/17 France 03/17 bpost SA Gas Natural Barry Callebaut Royal LafargeHolcim Électricité de France EUR 300m EUR 330m EUR 750m EUR 1bn EUR 150m Sustainability Improvement Sustainability Improvement Sustainability Improvement Sustainability Improvement Sustainability Improvement Sustainability Improvement Syndicated RCF Bilateral RCF Syndicated RCF Syndicated RCF Bilateral RCF Bilateral RCF

Green/SRI Loan of the year

Joint Sustainability Coordinator, Sole Agent & BMLA Sole Lender Sustainability Coordinator Sustainability Coordinator & BMLA Sole Lender Sole Lender Transport and Logistics Utilities, Power & Renewables Consumer goods Technology Construction, Engineering, Infra & Real Estate Utilities, Power & Renewables

Footnote: 1. Period: 1st Jan 2018 – 3rd Oct 2018

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