ING 1Q2023 Financial Targets Update

A robust model delivering value Pre-provision profit excl. volatile items ¹) and regulatory costs (in € mln) 2,745 2,632 2,405 2,335 3,055 1Q2023 pre-provision profit, excluding volatile items and regulatory costs, increased on both comparable quarters Strong NII development, driven by the positive effect of higher interest rates on liability NII. This offset pressure on lending NII, as client rates generally track higher funding costs with a delay, and income from prepayment penalties normalised ■ Other income was boosted by Financial Markets (FM) benefiting from good client flow and market volatility, as well as from a shift from NII to other income in both Treasury and FM, reflecting the impact of rising rates ■ Fees were supported by higher daily banking fees, while investment products fees were affected year-on-year by lower stock markets and less trading activity. ■ Expenses included the full-year 2022 inflationary pressure on staff expenses, as well as higher marketing spend compared to 1Q2022, reflecting investments in further growth of our customer base 1Q2022 2Q2022 3Q2022 4Q2022 1Q2023 1) As included in volatile items on slide 18 8

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