ING’s Remuneration Policy What? When? ING needs to attract and retain excellent leaders so that it can deliver on its promise to its Changes to ING’s Executive Board 34 million clients in the more than 40 countries it is operating in. At the same time, ING has Remuneration are eective as of to balance the interests of all stakeholders. The Supervisory Board reconfirms its support of 1 Jan 2016. ING´s Executive Board Remuneration Policy aimed at further reducing the gap between the total direct compensation of ING’s Executive Board and the median of the EURO STOXX 50 peer group over time. Why? For 2016, the Supervisory Board decided to increase the total (at target) remuneration of Executive Board members by 2%. Including these changes, ING will still pay its Executive To remain competitive, ING needs to attract Board well below the median for national and international companies in its peer group and retain the best leaders with international (the EURO STOXX 50). experience for its global activities. The Supervisory Board will continue to annually For more information see the remuneration page or the full Annual Report on www.ing.com. monitor developments and the applicable benchmark (EURO STOXX 50). Where? How does ING compare to other companies? ING is a European bank with a global presence. It has over 54,000 employees serving 34 million ING’s total remuneration for its CEO is far below the median (see graph). Also, its CFO and CRO customers across 40 countries. At least 70% of employees work outside of the Netherlands. are paid well below the median for the benchmark. More than 95% of its investor base is non-Dutch (with approximately 50% based in the UK and the US). Around 70% of its total income is earned outside of the Netherlands. 4,535 CEO CFO & 2,165 CRO +3,285 1,929 +1,465 1,396 1,630 1,891 1,663 1,180 1,369 1,204 1,250 +261 +266 700 +189 +193 EURO STOXX 50 ING current ING new EURO STOXX 50 ING current ING new (2015 median level at target) (at target) (at target) (2015 median level at target) (at target) (at target) Amount in thousands of euros Market leaders Benelux Fixed remuneration EURO STOXX 50 Fixed remuneration ING Challengers Total remuneration EURO STOXX 50 Total remuneration ING Growth markets For the median Wholesale Banking ING’s peer group consists of companies in the EURO STOXX 50. Based in the eurozone, they are made up of financial and Who are non-financial companies. ING’s peers? ING compared to EURO STOXX 50 Market Cap ING Group listed 24th Safran Siemens ING Group • • • Please note: Market Capitalisation measured as average over 2015, Source: Datastream 2015, Source: over asaverage measured Market Capitalisation hasbeen includedinthebase salarylevel. value award the corresponding isobserved, allowance" share a"fixed In case versa). (andvice hasbeen usedasaproxy data actual remuneration available, was data remuneration variable notarget In case Volkswagen Shell Shell AB Inbev Telefonica RELX Unilever Inditex Sanofi ING Group Unilever Daimler BMW Heineken Heineken Iberdrola SAP ASML wolters Kluwer Santander Deutsche Bank RELX Gemalto Siemens Unilever Unibail-Rodamco Arcelor Mittal L’Oreal LVMH Philips OCI AXA Allianz Altice Bayer Ahold Schneider Electric AkzoNobel Generali AkzoNobel BBVA Ahold Deutsche Post Randstad Nokia Policy ING’s Remuneration KPN E.ON ASML ENI Aegon Airbus Group Philips BASF ArcelorMittal Deutsche Telekom Unibal-Rodamco Air Liquids Randstad Munich Re ING variable ING fixed remuneration Variable remuneration Fixed Fixed remuneration Fixed KPN ING variable ING fixed remuneration Variable Fresenius ING compared toAEXindex ING compared NN Group Essilor DSM Carrefour DSM Total Aegon Danone Walters Kluwer Engie ING Group Vivendi Gemalto Saint Gobain Societe Generale Boskalis OCI ASML Philips Vopak Vopak Enel Unibail-Rodamco NN Group Boskalis Intesa Sanpaolo Market Cap Remuneration Remuneration l l BNP Paribas ING Group ING Group ING Group isted 49th isted isted 18th isted l TNT Express TNT Express 3rd isted Safran CEO CEO CEO CEO Unicredit Delta Lloyd Aalberts Industries Vinci ING Group Aalberts Industries Delta Lloyd Orange.