Exhibit 99.1

ING posts 3Q2021 net result of €1,367 million 3Q2021 result before tax of €1,924 million; capital position strengthens, CET1 ratio at 15.8% • Strong growth in fee income of 20% year - on - year, net interest income resilient. • Operating expenses remain under control. This quarter’s expenses include €180 mln provision for compensation to Dutch retail customers with certain consumer credit products. • Risk costs remain low as overall book quality is strong. • Resumption of capital distribution through dividends and launch of share buyback programme in October. CEO Statement “I’m pleased with our results in the third quarter,” said ING CEO Steven van Rijswijk. “We saw continued lending growth in mortgages, whereas loan demand from businesses was in fl uenced by the economic e ff ects of the Covid pandemic. Even so, our commercial lending margins were slightly higher and we saw strong fee growth in account package fees, investment products and lending. "Expenses were under control, the quarter includes a €180 million provision we took for the compensation of Dutch retail customers for past interest charges that did not su ffi ciently follow market rates. On risk costs, we were able to release some of the additional provisions we took earlier. Other issues are moving to the forefront for clients, like disruptions to supply chains, rising energy prices and increasing in fl ation. We’ll continue to support our clients wherever we can. I’m grateful for our customers’ loyalty, as we gained about 95,000 primary customers since the last quarter, bringing the total number of primary customers to 14.1 million. “We aim to digitalise processes in order to increase productivity and decrease the time customers have to spend on banking. At Interhyp in Germany, the digital mortgage platform called ‘HOME’ is used by customers, advisors, brokers and bank partners. Today, nearly 500,000 customers use the digital self - services the platform provides. This has led to a marked decrease in manual workload for advisors and partners, and a much faster decision for customers. “In Romania, where over 70 % of our customers connect with us through their mobile device, we now have a complete digital product o ff ering, including personal loans, insurance, investments, savings, current accounts, shopping programmes, mobile card payments and virtual cards . Our mobile sales in Romania have more than tripled since 2019 . “We continued to take steps in the third quarter to be an action leader in the fi ght against climate change, sharpening our target for reducing our funding to upstream oil and gas and working to set net - zero targets for the eight other sectors in our Terra approach. Many of our clients trust us as their strategic partner in achieving their sustainability and long - term growth ambitions, such as leading data - centre provider Aligned. They’re taking good steps on sustainability in the area of digital infrastructure. ING has received four consecutive sustainability - related mandates from Aligned over the past 12 months, helping them issue the fi rst data - centre sustainability - linked loan and the fi rst green data - centre securitisation. “We’ve launched a share buyback programme as we start on the path to optimise our capital while maintaining our focus on our customers . I am pleased we could return capital to our shareholders, and thank them for their understanding throughout the distribution restrictions during the pandemic . “Our hybrid mode of working is beginning in ING countries around the world and colleagues are slowly starting to return to the o ffi ce, but we need to remain vigilant until the pandemic is truly over . In the meantime, I remain grateful for everyone’s fl exibility and commitment . ” Investor enquiries E: investor.relations@ing.com Press enquiries T: +31 (0)20 576 5000 E: media.relations@ing.com Analyst call 4 November 2021 at 9:00 am CET +31 (0)20 341 8221 (NL) +44 203 365 3209 (UK) +1 866 349 6092 (US) Live audio webcast at www.ing.com Media call 4 November 2021 at 11:00 am CET +31 (0)20 531 5855 (NL) +44 203 365 3210 (UK) Live audio webcast at www.ing.com Press release ING Corporate Communications Amsterdam, 4 November 2021

2 ING Press Release 3Q2021 Consolidated Results Business Highlights Primary customers 14.1 mln +95,000 since 2Q2021 Mobile - only customers 50% in % of total active customers vs 47% in 2Q2021 Net result €1,367 mln +73.5% vs 3Q2020 Fee income €882 mln +20.2% vs 3Q2020 CET1 r atio 15.8% +0.1% - point vs 2Q2021 Return on equity (4 - qtr rolling avg) 8.8% +3.7% - point vs 3Q2020 The pandemic served as a catalyst for more consumers to shift to mobile banking, and that growth continues. The number of mobile payment transactions reached 246 million in the third quarter, an increase of 17% from last quarter. The total number in the fi rst nine months surpassed all of 2020. Of all our digital customers, 50% interacted with us via their mobile device only, with high adoption in Turkey (85%), Romania (71%) and Spain (57%). The number of customers who choose ING as their primary bank continued to grow, especially in Germany and Poland. In Germany, a high number of customers took out consumer loans this quarter, led by improvements in the pre - approved lending process for existing customers. Those who qualify can access these loans fully digitally, instantly and easily in just a few clicks. Customer experience NPS score: r an k ed #1 in 5 of 12 Retail markets We supported 54 sustainability deals in the third quarter, bringing this year’s total to 200 deals so far. That’s nearly double the number closed in the same period last year. We’re honoured to be a trusted strategic partner for clients seeking support in the energy transition. ING was sole sustainability structurer and co - manager for Aligned Data Centre’s fi rst $1.35 billion green securitisation, the fi rst green asset - backed security ever done for data - centre providers worldwide. It’s the fourth consecutive sustainability - related mandate ING received from Aligned since we did their fi rst sustainability - linked loan last year. Another example of how we empower clients to take action against climate change is in a strategic partnership with Australia’s leading energy infrastructure provider, Jemena. We helped develop a green fi nance framework that speci fi es how the company will use proceeds from green bonds and loans: on renewable energy, energy e ffi ciency, clean transport and climate adaptation. We continue to take steps to align our portfolio with the goal of reaching net - zero emissions by 2050. We’ve sharpened our target for upstream oil & gas and now aim to reduce our funding for this sector by 12% by 2025 (from 2019). We’ll set targets for the other eight sectors in due course. Details on the other sectors in our Terra approach can be found in our fi rst integrated climate report, published in September 2021. Sustainability 200 sustainability deals supported by ING in fi rst nine months 2021 (up 94% from year - earlier period) Non - fi nancial risk As a gatekeeper to the fi nancial system, banks have an important role in the collective fi ght against fi nancial and economic crimes. Know Your Customer (KYC) is an ongoing e ff ort and is integrated into our daily business operations. We’re continuously working to keep the bank safe, secure and compliant. KYC: Strengthening our role in fi ghting fi nancial economic crime

3 ING Press Release 3Q2021 Consolidated Results Consolidated results 3Q2021 3Q2020 Change 2Q2021 Change 9M2021 9M2020 Change Profit or loss (in € million) Net interest income 3,388 3,329 1.8% 3,340 1.4% 10,241 10,260 - 0.2% Net fee and commission income 882 734 20.2% 855 3.2% 2,592 2,240 15.7% Investment income 74 103 - 28.2% 10 640.0% 123 144 - 14.6% Other income 304 120 153.3% 312 - 2.6% 911 824 10.6% Total income 4,648 4,286 8.4% 4,517 2.9% 13,866 13,468 3.0% Expenses excl. regulatory costs 2,565 2,502 2.5% 2,372 8.1% 7,365 7,465 - 1.3% Regulatory costs 1) 121 111 9.0% 172 - 29.7% 880 774 13.7% Operating expenses 2,685 2,613 2.8% 2,543 5.6% 8,245 8,239 0.1% Gross result 1,962 1,673 17.3% 1,973 - 0.6% 5,621 5,229 7.5% Addition to loan loss provisions 2) 39 469 - 91.7% - 91 170 2,466 - 93.1% Result before tax 1,924 1,204 59.8% 2,065 - 6.8% 5,452 2,763 97.3% Taxation 521 389 33.9% 566 - 8.0% 1,526 942 62.0% Non - controlling interests 35 27 29.6% 40 - 12.5% 94 63 49.2% Net result 1,367 788 73.5% 1,459 - 6.3% 3,832 1,757 118.1% Profitability and efficiency Interest margin 1.38% 1.38% 1.36% 1.40% 1.45% Cost/income ratio 57.8% 61.0% 56.3% 59.5% 61.2% Risk costs in bps of average customer lending 3 30 - 6 4 53 Return on equity based on IFRS - EU equity 3) 10.4% 6.0% 11.2% 9.8% 4.5% ING Group common equity Tier 1 ratio 15.8% 15.3% 15.7% 15.8% 15.3% Risk - weighted assets (end of period, in € billion) 310.5 312.3 - 0.6% 308.6 0.6% 310.5 312.3 - 0.6% Customer balances (in € billion) Customer lending 619.2 607.6 1.9% 616.3 0.5% 619.2 607.6 1.9% Customer deposits 620.1 605.6 2.4% 620.6 - 0.1% 620.1 605.6 2.4% Net core lending growth (in € billion) 4) 3.1 - 6.9 - 3.7 17.2 - 1.6 Net core deposits growth (in € billion) 4) - 0.6 3.4 4.9 12.4 33.5 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. T o t al in c ome Total income was strong at €4,648 million in 3Q2021, supported by higher fee income, an improvement in net interest income and the annual dividend received from the Bank of Beijing. Net interest income was €3,388 million in 3Q2021 and included a conditional €84 million accrual for the ECB funding rate bene fi t from the TLTRO III programme under the additional special reference period, which started on 24 June 2021. In 2Q2021, a €83 million bene fi t was recorded, while 1Q2021 had included a €233 million bene fi t for the period 24 June 2020 until 31 March 2021. Excluding the aforementioned TLTRO III bene fi ts recorded in the respective periods, net interest income would have declined by €25 million compared with 3Q2020, mainly due to lower margins on liabilities, while average liability volumes increased as the Covid - 19 pandemic reduced customer spending. Net interest income on lending increased due to higher average volumes (driven by the continued growth in residential mortgages) combined with a slight improvement in the total lending margin. Net interest income was furthermore supported by higher volatile interest results in Financial Markets and higher interest results from foreign currency ratio hedging (re fl ecting higher interest rate di ff erentials). Sequentially, net interest income rose by €48 million, primarily due to higher interest results from lending activities supported by higher margins, while the charging of negative interest rates partly absorbed the decline in net interest income on liabilities. 4,000 3,500 3,000 2,500 2,000 1.80 1.65 1.50 1.35 1.20 Net interest income (in € million) and net interest margin (in %) 1.48% 3,329 1.42% 1.44% 3,513 3,344 3,340 1.40% 3,388 3Q2020 4Q2020 1Q2021 2Q2021 3Q2021 Net interest income Net interest margin Net interest margin 4 - quarter rolling average 1.40% 1.38% 1.46% 1.41% 1.38% 1.36% The net interest margin improved by 2 basis points to 1.38% compared with 2Q2021. In both this and the previous quarter, the TLTRO III bene fi t contributed 3 basis points to the average net interest margin. The increase in the net interest margin was primarily caused by higher margins on lending, predominantly in Wholesale Banking. The margin on customer deposits was almost stable, supported by an increased charging of negative interest rates to clients. Net core lending growth, which is customer lending growth adjusted for currency impacts and excluding developments in

4 ING Press Release 3Q2021 Consolidated Results Treasury lending and the WUB run - o ff portfolio, was €3.1 billion in 3Q2021. Net core lending growth in Retail Banking was €4.7 billion and consisted of €3.8 billion growth in residential mortgages (primarily in Germany, Poland and Spain) and €0.9 billion in other retail lending. In Wholesale Banking, net core lending growth was € - 1.6 billion. This was primarily due to Lending, re fl ecting higher repayments on short - term facilities, while growth in Daily Banking & Trade Finance provided a partial o ff set. Net core deposits growth, also adjusted for the run - o ff in Retail Austria and Retail Czech Republic, was € - 0.6 billion in 3Q2021 as we work on limiting the in fl ow of deposits. In Retail Banking, net core deposits growth was € - 1.9 billion. The net out fl ow was predominantly visible in Germany and Belgium and partly o ff set by increases in the Netherlands and the non - eurozone countries where ING operates. Wholesale Banking recorded net core deposits growth of €1.4 billion, mainly in Payments & Cash Management. The run - o ff of the remaining customer deposits portfolios in Austria and the Czech Republic is nearly completed, leading to an additional decline in customer deposits of €0.6 billion in 3Q2021. Net fee and commission income amounted to €882 million, 20.2% higher than in 3Q2020. In Retail Banking, the increase was 22.3%, mainly due to higher fee income in daily banking products, supported by higher fees for payment packages and an increasing number of payment transactions, as well as higher fees on investment products in most countries. In Wholesale Banking, year - on - year fee income increased 16.6%, notably in Daily Banking & Trade Finance. Sequentially, total fee income rose 3.2% on the already strong 2Q2021, as higher lending and daily banking fees more than compensated for lower fees in Financial Markets. Investment income was €74 million in 3Q2021 and included a €97 million annual dividend from our stake in the Bank of Beijing (versus €95 million in 3Q2020) as well as an estimated €34 million loss related to the previously announced agreement to transfer ING’s Retail Banking operations in Austria to bank99. Other income was €304 million in 3Q2021 versus €120 million in 3Q2020, which had been negatively a ff ected by a €230 million impairment on ING’s equity stake in TMB. Adjusted for the impairment, other income mainly re fl ected lower positive valuation adjustments in Financial Markets. Sequentially, other income was only slightly lower, supported by higher other income in Wholesale Banking and a €25 million gain on the sale of an associate in Retail Belgium, while a €72 million receivable (due to a better - than - expected recovery of the insolvency of a fi nancial institution in the Netherlands) had been recorded in 2Q2021. Operating expenses Total operating expenses were €2,685 million. This included €121 million of regulatory costs, which increased by €10 million on 3Q2020, primarily re fl ecting a higher level of covered deposits. Compared with 2Q2021, which had included catch - ups in the deposit guarantee scheme contributions following the Greensill insolvency, regulatory costs dropped by €51 million. Furthermore, operating expenses in 3Q2021 included €233 million of incidental items. These items mainly consisted of a €180 million provision for compensation to customers on certain Dutch consumer credit products, €9 million of additional redundancy provisions and costs related to the accelerated closure of branches in the Netherlands, and a €44 million impairment on Payvision in Wholesale Banking following the announced phasing out of its services. In 3Q2020, operating expenses had included €140 million of impairments on capitalised software related to the decision to stop the Maggie project (recorded in Retail Other Challengers & Growth Markets), whereas 2Q2021 had €39 million of incidental items (re fl ecting €17 million of redundancy provisions and costs related to the closure of branches in the Netherlands, and a €22 million IT - related impairment recorded in the Corporate Line). 1,500 2,000 2,500 3,000 Operating expenses (in € million) 2,361 331 84 587 2,345 2,333 172 2,331 121 233 2,362 3Q2020 4Q2020 1Q2021 2Q2021 3Q2021 Expenses excl. regulatory costs and incidental items Regulatory costs Incidental items 111 140 223 39 Excluding regulatory costs and the aforementioned incidental items, expenses decreased 1.3% compared with 3Q2020. This was primarily due to lower expenses for third - party sta ff , professional services and marketing, which more than o ff set the impact of higher sta ff - related expenses, mainly caused by annual salary increases. The decline was fully driven by lower costs in Retail Banking. Compared with 2Q2021, expenses excluding regulatory costs and incidental items were slightly lower as cost savings absorbed a lower VAT refund. Addition to loan loss provisions Net additions to loan loss provisions were €39 million in 3Q2021. This relatively low level was mainly caused by some net releases from collective provisions combined with limited individual Stage 3 provisioning. Addition to loan loss provisions (in € million) - 500 0 500 1,000 Risk costs in bps of average customer lending (annualised) Stage 3 - 50 0 50 100 14 - 91 39 223 208 3Q2020 4Q2020 1Q2021 2Q2021 3Q2021 2 % #  9  A ',!*3"', % - oR * , ! # 1&##2 469 3 30 - 6 15

5 ING Press Release 3Q2021 Consolidated Results Although Covid - 19 has had a negative impact on the global economy, defaults in our portfolio have been limited. This mainly re fl ects the quality of our loan portfolio and the impact of government support schemes. Despite strains on supply chains and spiking energy prices, economic activity continued to recover in 3Q2021 with robust GDP forecasts and improved risk indicators on our loan book. This resulted in a €96 million release of provisions (versus a €262 million release in 2Q2021), re fl ecting a partial release of management overlays applied in previous quarters. The release was recorded predominantly in Stage 1 and Stage 2. Total net additions to Stage 3 provisions in 3Q2021 were €237 million (up from €173 million in the previous quarter), of which almost 60% was related to Stage 3 collective provisions and 40% to Stage 3 individual provisions. Stage 1 and Stage 2 risk costs (including o ff - balance - sheet provisioning) were € - 198 million compared with € - 265 million in 2Q2021. In addition to the partial release of management overlays, this also includes the impact of the improved quality of the loan portfolio. Net result ING’s 3Q2021 net result was €1,367 million, or 73.5% higher than in the year - ago quarter, which had included elevated risk costs and €370 million of impairments on ING’s equity stake in TMB and on capitalised software related to project Maggie. Compared with 2Q2021, the net result was 6.3% lower, as the increase in income was more than o ff set by the incidental cost items and the net addition in risk costs. The e ff ective tax rate was 27.1% compared with 32.3% in 3Q2020 (when results had included a non - deductible impairment on our equity stake in TMB) and 27.4% in 2Q2021. Return on equity ING Group (in %) 15 0 5 10 3Q2020 4Q2020 1Q2021 2Q2021 3Q2021 Return on IFRS - EU equity (quarter) Return on IFRS - EU equity (4 - quarter rolling average) 5.1 6.0 4.8 5.6 7.8 5.4 10.4 8.8 11.2 7.7 In 3Q2021, ING’s return on average IFRS - EU equity was 10.4%. On a four - quarter rolling average basis, the return on ING’s average IFRS - EU equity increased to 8.8% from 7.7% in the previous four - quarter rolling period. The increase was caused by a higher four - quarter rolling net result combined with a slight increase in average equity. ING’s return on equity is calculated using IFRS - EU shareholders' equity after excluding 'reserved pro fi t not included in CET1 capital', which amounts to €2,840 million as per the end of 3Q2021. This fi gure re fl ects the total of the following: the amount originally reserved for the fi nal 2019 distribution (€1,744 million, for which a share buyback programme started on 5 October 2021) as well as 50% of the 9M2021 resilient net pro fi t, which has been reserved for distribution in line with our policy, minus the interim dividend 2021 paid in October. For 9M2021, resilient net pro fi t, which is de fi ned as net pro fi t adjusted for signi fi cant items not linked to the normal course of business, is equal to net pro fi t. At the end of 3Q2021, the €1,874 million distribution paid in October (€0.48 per share) had already been transferred from shareholder’s equity to other liabilities.

6 ING Press Release 3Q2021 Capital, Liquidity and Funding Consolidated Balance Sheet Balance sheet In 3Q2021, ING’s balance sheet increased by €10.5 billion to €988.8 billion, including €1.3 billion of positive currency impacts. The increase was mainly due to higher cash and balances with central banks, higher fi nancial assets at fair value through pro fi t or loss, and an increase in customer lending. Partially o ff setting these factors were lower fi nancial assets at fair value through OCI and lower securities at amortised cost. The increase in customer lending was caused by further growth in residential mortgages. Other customer lending declined as growth in the Retail Challengers & Growth Markets was more than o ff set by the impact of prepayments on short - term facilities (predominantly in Wholesale Banking). On the liability side of the balance sheet, the main increases were in fi nancial liabilities at fair value through pro fi t or loss, other liabilities (including a transfer from equity for the dividend paid in October 2021), and deposits from banks. Subordinated loans increased, re fl ecting $2.0 billion issuance of hybrid securities, which was partly o ff set by a €994 million redemption of non - CRD IV eligible securities. Customer deposits declined by €0.5 billion. Excluding the out fl ows of deposits in Austria and the Czech Republic, in line with ING’s intention to discontinue its retail activities in these countries before the end of 2021, customer deposits increased by €0.1 billion. This re fl ects increases in Retail Netherlands, Wholesale Banking and in the non - eurozone retail countries where ING operates. These increases were almost fully o ff set by net out fl ows in Retail Germany and Retail Belgium following announcements on charging negative interest rates and charging higher or new fees. At the end of September 2021, assets held for sale and liabilities held for sale consisted of portfolios to be sold to bank99 before the end of 2021, following the previously announced decision to discontinue ING’s retail banking activities in Austria. Shareholders’ equity Change in shareholders’ equity in € million 3Q2021 9M2021 Shareholders' equity beginning of period 56,222 54,637 Net result for the period 1,367 3,832 (Un)realised gains/losses fair value through OCI - 115 - 157 (Un)realised other revaluations 2 - 1 Change in cash fl ow hedge reserve - 280 - 856 Change in liability credit reserve 4 21 De fi ned bene fi t remeasurement 23 52 Exchange rate di ff erences 84 235 Change in treasury shares 2 - 1 Change in employee stock options and share plans 5 24 Dividend - 1,874 - 2,342 Other changes - 2 - 3 Total changes - 783 803 Shareholders' equity end of period 55,439 55,439 The decrease in shareholders’ equity in 3Q2021 included a transfer of €1,874 million to other liabilities for the €0.48 dividend per share paid in October 2021. Shareholders’ equity declined by €783 million as the €1,874 million transfer and a €280 million negative change in the cash fl ow hedge reserve (mainly as a result of interest rate movements in 3Q2021) were partly o ff set by the quarterly net result of €1,367 million. Shareholders’ equity per share decreased to €14.20 on 30 September 2021 from €14.40 on 30 June 2021. Consolidated balance sheet in € million 3 0 Se p . 2 1 30 Jun. 21 31 Dec. 20 30 Sep. 21 30 Jun. 21 31 Dec. 20 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 Assets held for sale 127,781 121,331 111,087 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 Liabilities held for sale Debt securities in issue Subordinated loans 91,166 89,134 78,098 25,828 26,198 25,364 620,116 620,593 609,642 126,157 121,402 103,370 322,525 330,695 336,517 56,007 50,652 51,356 273,909 268,503 256,636 1,859 2,112 3,583 21,835 20,741 15,941 5,843 5,421 4,126 1,846 656 548 62,447 63,217 44,305 92,990 87,141 82,781 30,684 33,016 35,895 25,051 26,845 32,709 2,321 2,434 1,862 2,080 1,925 1,629 27,526 29,693 32,977 65,859 58,370 48,444 837 889 1,056 17,814 15,294 13,226 48,462 49,467 50,587 2,053 2,243 613,979 610,938 598,176 92,539 91,840 82,065 619,179 616,284 603,956 15,689 14,791 15,805 - 5,201 - 5,347 - 5,779 Total liabilities 932,367 921,037 881,616 1,470 1,461 1,475 2,555 2,631 2,841 Equity 1,246 1,315 1,394 Shareholders' equity 55,439 56,222 54,637 9,219 9,210 7,085 Non - controlling interests 945 987 1,022 1,370 1,278 Total equity 56,384 57,209 55,659 Total assets 988,751 978,246 937,275 Total liabilities and equity 988,751 978,246 937,275

7 ING Press Release 3Q2021 Capital, Liquidity and Funding ING Group: Capital position in € million 30 Sep. 2021 30 Jun. 2021 Shareholders' equity (parent) 55,439 56,222 - Reserved pro fi t not included in CET1 capital 1) - 2,840 - 4,031 - Other regulatory adjustments - 3,429 - 3,666 Regulatory adjustments - 6,269 - 7,697 Available common equity Tier 1 capital 49,171 48,525 Additional Tier 1 securities 2) 6,659 5,737 Regulatory adjustments additional Tier 1 49 52 Available Tier 1 capital 55,878 54,314 Supplementary capital - Tier 2 bonds 3) 8,346 8,336 Regulatory adjustments Tier 2 - 159 - 168 Available Total capital 64,066 62,482 Risk - weighted assets 310,528 308,581 Common equity Tier 1 ratio 15.8% 15.7% Tier 1 ratio 18.0% 17.6% Total capital ratio 20.6% 20.2% Leverage Ratio 5.8% 5.7% 1) The reserved pro fi t not included in CET1 capital as per 30 September 2021 was €2,840 million, of which €1,096 million relates to the 9M2021 result and €1,744 million to the result of 2019. 2) All AT1 securities are CRR/CRD IV - compliant for 3Q2021 (2Q2021: €922 million was subject to CRR/CRD IV grandfathering rules). 3) Including €8,193 million, which is CRR/CRD IV - compliant (2Q2021: €8,183 million), and €153 million to be replaced as capital recognition is subject to CRR/CRD IV grandfathering rules (2Q2021: €153 million). Capital ratios The CET1 ratio increased to 15.8% compared to the previous quarter, as higher CET1 capital was only partly o ff set by higher RWA. CET1 capital increased mainly due to the inclusion of €0.7 billion of interim pro fi ts. The increase in the Tier 1 ratio (including grandfathered securities) re fl ects the issuance of two $1.0 billion AT1 instruments in September, partly o ff set by the redemption of two EUR - denominated perpetual securities that been grandfathered as AT 1 capital . The increase in the Total capital ratio (including grandfathered securities) mirrors trends in the Tier 1 ratio . The slight increase in the leverage ratio was driven by an increase in Tier 1 capital that was only partly o ff set by higher leverage exposure. The ECB has authorised the exclusion of certain central bank exposures (€117.6 billion) until March 2022. Without the exclusion, the leverage ratio would have been 5.2% (2Q2021: 5.1%). Risk - weighted assets (RWA) The increase in total RWA mainly re fl ects higher credit RWA. ING Group: Composition of RWA in € billion 30 Sep. 2021 30 Jun. 2021 Credit RWA 270.7 266.4 Operational RWA 34.3 36.1 Market RWA 5.5 6.0 Total RWA 310.5 308.6 Excluding currency impacts, credit RWA increased by €3.5 billion, mainly driven by model impacts (€11.0 billion) re fl ecting the ongoing redevelopment of internal models and EBA guidelines. The increase was partly o ff set by, among others, a better overall pro fi le of the loan book (€ - 4.3 billion), lower lending volumes (€ - 1.2 billion) and a decrease in equity investments (€ - 0.5 billion). Lower operational RWA (€ - 1.8 billion) were due to regular updates to the AMA model. The decrease in market RWA (€ - 0.6 billion) was mainly driven by lower market positions. Distribution ING paid an amount of €0.48 per share on 12 October 2021, consisting of an interim dividend over 2021 (€0.21 per share) and the remaining amount originally reserved for the 2020 distribution (€0.27 per share). In addition, on 5 October 2021 ING commenced a share buyback programme for €1,744 million to distribute the remaining amount originally reserved over 2019. The programme is expected to end no later than 5 May 2022. In 3Q2021, ING has reserved €684 million of the quarterly net pro fi t for distribution, re fl ecting our distribution policy of a 50% pay - out ratio on resilient net pro fi t. Resilient net pro fi t in 3Q2021 (which is de fi ned as net pro fi t adjusted for signi fi cant items not linked to the normal course of business) is equal to net pro fi t as there were no adjustments to make. At the end of 3Q2021, ING reserved €2,840 million for distribution outside of CET1 capital. This includes the remaining amount reserved over 2019 (which will be distributed via the current share buyback programme) as well as the remaining amount reserved for distribution from the 9M2021 result. TLAC and MREL requirements Total TLAC and MREL requirements apply to ING Group at the consolidated level of the resolution group. TLAC requirements are currently set at 21% of RWA and 6% of leverage exposure (LR). The available TLAC capacity consists of own funds and senior debt instruments issued by ING Group. As per 30 September 2021, ING Group meets the TLAC requirements.

8 ING Press Release 3Q2021 Risk Management Capital, Liquidity and Funding ING Group: TLAC requirement in € million 30 Sep. 2021 30 Jun. 2021 TLAC capacity 91,943 88,580 TLAC (as a percentage of RWA) 29.6% 28.7% TLAC (as a percentage of leverage exposure) 9.6% 9.3% TLAC surplus (shortage) based on LR 34,456 31,293 TLAC surplus (shortage) based on RWA 26,639 23,686 The preliminary MREL requirements are 27.88% of RWA and 5.97% of LR as per 1 January 2024, with intermediate requirements of 27.32% of RWA and 5.97% of LR as per 1 January 2022. The MREL requirements formally still await a joint decision by the Single Resolution Board (SRB) and the Polish resolution authority (BFG). As per 30 September 2021, ING Group already meets the new MREL requirements. ING Group: MREL requirement (non - binding) in € million 30 Sep. 2021 30 Jun. 2021 MREL capacity 92,008 88,650 MREL (as a percentage of RWA) 29.6% 28.7% MREL (as a percentage of leverage exposure) 9.6% 9.3% MREL surplus (shortage) based on LR 1) 34,808 31,650 MREL surplus (shortage) based on RWA 1) 7,178 4,340 1) The MREL surplus is based on the intermediate MREL requirements that will become binding as per 1 January 2022. Liquidity and funding In 3Q2021, the 12 - month moving average LCR increased from 141% to 142% due an increase in the liquidity bu ff er. in € billion 30 Sep. 2021 30 Jun. 2021 Level 1 153.3 148.1 Level 2A 4.8 4.6 Level 2B 5.0 4.1 Total HQLA 163.0 156.9 Stressed Out fl ow 199.2 194.8 Stressed In fl ow 84.8 83.3 LCR 142% 141% LCR 12 - month moving average The funding mix in the third quarter of 2021 stayed largely the same as in the second quarter of 2021. A decrease in the share of retail customer deposits is observed, compensated by an increase in the share of lending and repurchase agreements. ING Group: Loan - to - deposit ratio and funding mix In % 30 Sep. 2021 30 Jun. 2021 Loan - to - deposit ratio 0.99 0.98 Key figures Customer deposits (retail) 49% 50% Customer deposits (corporate) 20% 20% L ending / r epu r chase ag r eements 8% 7% Interbank 10% 10% 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. in € billion Total ʹ 21 ʹ 22 ʹ 23 ʹ 24 ʹ 25 ʹ 26 > ʹ 26 EUR 49 3 7 5 1 4 3 26 USD 17 0 4 3 1 0 2 8 Other 8 0 0 1 1 0 2 3 Total 74 3 11 9 3 4 7 37 ING’s long - term debt position decreased by €0.6 billion versus 2Q2021. The decrease was mainly caused by €3.8 billion of maturities, partially o ff set by €1.5 billion Senior Holdco issuance and a AUD 0.75 billion (€0.466 billion) covered bond in Australia in August. Long - term debt maturity ladder per currency, 30 September 2021 Ratings The ratings and outlook from S&P, Moody’s, Fitch and GBB - Rating remained unchanged in the quarter. Outlook Stable Stable Negative Indeterminate Senior unsecured rating A+ A1 AA - Credit ratings of ING on 3 November 2021 S&P Moody's Fi tch GBB - Rating ING Groep N.V. Issuer rating 1) Long - term Short - term Outlook Senior unsecured rating A - A - 2 Stable A - n/a A+ n/a F1 Stable 2) Negative Baa1 A+ ING Bank N.V. I ssuer r ating 1) Long - term Short - term A+ A - 1 Aa3 P - 1 A A - F1+ A+ n / a 1) Issuer rating refers to Issuer Credit Rating for S&P, Counterparty Risk Rating for Moody's and Issuer Default rating for Fitch. 2) Outlook refers to the senior unsecured rating.

9 ING Press Release 3Q2021 Risk Management in € million 30 Se p . 2021 30 Jun. 2021 30 Se p . 2021 30 Jun. 2021 30 Se p . 2021 30 Jun. 2021 30 Se p . 2021 30 Jun. 2021 30 Se p . 2021 30 Jun. 2021 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 313,722 112,185 41,713 84,371 75,454 26,300 97,595 35,987 44,027 63,159 310,919 112,259 41,374 82,525 74,761 25,702 97,379 36,130 44,345 63,222 12,073 5,710 3,676 1,442 1,244 2,056 12,354 4,890 5,712 681 12,042 5,776 3,465 1,558 1,244 2,126 13,759 5,282 6,638 759 3.8% 5.1% 8.8% 1.7% 1.6% 7.8% 12.7% 13.6% 13.0% 1.1% 3.9% 5.1% 8.4% 1.9% 1.7% 8.3% 14.1% 14.6% 15.0% 1.2% 3,711 708 1,429 381 1,193 1,174 3,308 871 1,659 205 3,841 780 1,468 387 1,205 1,189 3,474 924 1,745 200 1.2% 0.6% 3.4% 0.5% 1.6% 4.5% 3.4% 2.4% 3.8% 0.3% 1.2% 0.7% 3.5% 0.5% 1.6% 4.6% 3.6% 2.6% 3.9% 0.3% Retail Banking 500,775 497,222 27,165 28,686 5.4% 5.8% 8,398 8,704 1.7% 1.8% Lending Daily Banking & Trade Finance Financial Markets Treasury & Other 153,865 66,485 5,519 69,773 157,504 62,888 7,785 58,852 15,132 2,248 8 292 16,181 2,831 286 9.8% 3.4% 0.1% 0.4% 10.3% 4.5% 0.0% 0.5% 2,797 507 93 2,929 266 84 1.8% 0.8% 0.0% 0.1% 1.9% 0.4% 0.0% 0.1% Wholesale Banking 295,643 287,029 17,680 19,299 6.0% 6.7% 3,396 3,278 1.1% 1.1% Total loan book 796,418 784,251 44,844 47,984 5.6% 6.1% 11,794 11,982 1.5% 1.5% ING Group: Total credit outstandings 1) Credit outstandings Stag e 2 Stage 2 ratio Stag e 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. Covid - 19 The third quarter of 2021 was marked by increasing vaccination rates and a further reopening of economies. ING continues to closely monitor the developments around, and the e ff ects of, the ongoing Covid - 19 pandemic. Based on the potential economic and social implications for the countries and sectors where ING is active, mitigating actions are reviewed and adapted as necessary as we continue to support our customers during these challenging times. Our hybrid mode of working has begun in ING countries around the world and colleagues are slowly returning to the o ffi ce. However, the majority of our sta ff is still largely working from home, supported by and equipped with the appropriate tools. A central ING team provides guidance on health and safety measures, travel advice and business continuity. As the situation di ff ers from country to country, ING is following local government guidelines in its response to the Covid - 19 pandemic. Credit risk management Total credit outstandings rose in the third quarter of 2021, mainly due to increases in cash and balances with central banks, Daily Banking & Trade Finance and residential mortgages in Germany, partly o ff set by a decrease in Wholesale Banking Lending. Stage 2 outstandings decreased, mainly within Business Lending and Wholesale Banking Lending, driven by improved credit quality and to a lesser extent the improved macroeconomic outlook. Stage 3 outstandings decreased slightly in this quarter following the improved macroeconomic outlook, partly o ff set by the addition to some individual fi les in Wholesale Banking. In the third quarter, ING Group’s stock of provisions decreased due to a partial release of management overlays combined with the improved macroeconomic outlook. The Stage 3 coverage ratio increased to 31.1%, compared to 30.2% 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. in € million 30 Se p . 2021 30 Jun. 2021 Change Stage 1 - 12 - month ECL 507 505 2 Stage 2 - Lifetime ECL not credit impaired 1,105 1,306 - 201 Stage 3 - Lifetime ECL credit impaired 3,673 3,614 60 Purchased credit impaired 3 3 - 0 Total 5,288 5,427 - 140 ING Group: Stock of provisions 1) 1) At the end of September 2021, the stock of provisions included provisions for loans and advances to central banks (€4 million), loans and advances to banks (€19 million), fi nancial assets at FVOCI (€14 million), securities at amortised cost (€25 million), provisions for loans and advances to customers (€5,201 million) and provisions for contingent liabilities (credit replacements) recorded under Provisions (€25 million). Market risk The average Value - at - Risk (VaR) for the trading portfolio decreased to €5 million from €7 million in 2Q2021. The change was mainly caused by reduced interest rate and xVA exposures. ING Group: Consolidated VaR trading books in € million Minimum Maximum Average Quarter - end Foreign exchange 0 2 1 1 Equities 1 2 2 1 Interest rate 4 6 5 5 Credit spread 2 4 3 4 Diversi fi cation - 5 - 6 Total VaR 1) 4 6 5 4 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.

10 ING Press Release 3Q2021 Segment Reporting: Retail Banking Risk Management Non - fi nancial risk As previously disclosed, after our September 2018 settlement with Dutch authorities concerning Anti - Money Laundering (AML) 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 and have fi led, or may fi le, requests for disciplinary proceedings against ING employees based on the Dutch “Banker’s oath”.

11 ING Press Release 3Q2021 Segment Reporting: Retail Banking In € million Retail Benelux 3Q2021 3Q2020 2Q2021 Netherlands Belgium 3Q2021 3Q2020 2Q2021 3Q2021 3Q2020 2Q2021 Profit or loss Net interest income 1,273 1,320 1,245 817 871 809 456 448 437 Net fee and commission income 338 273 322 197 174 194 141 99 127 Investment income 5 3 7 5 2 7 0 1 0 Other income 91 108 77 45 72 42 46 37 35 Total income 1,706 1,704 1,651 1,064 1,119 1,052 642 585 599 Expenses excl. regulatory costs 987 863 824 642 507 484 345 356 340 Regulatory costs 38 25 51 38 25 46 0 0 5 Operating expenses 1,025 888 875 680 532 530 345 356 345 Gross result 682 816 776 384 587 522 297 229 254 Addition to loan loss provisions - 76 184 23 - 60 47 - 55 - 16 137 77 Result before tax 758 632 753 444 540 576 313 92 177 Profitability and efficiency Net core lending growth (in € billion) 0.1 - 0.8 1.0 0.1 - 1.1 0.4 - 0.1 0.2 0.5 Net core deposits growth (in € billion) 0.6 0.7 2.9 1.7 1.2 4.2 - 1.1 - 0.5 - 1.3 Cost/income ratio 60.1% 52.1% 53.0% 63.9% 47.5% 50.4% 53.7% 60.8% 57.6% Risk costs in bps of average customer lending - 12 29 4 - 16 12 - 14 - 7 60 35 Return on equity based on 12.5% CET1 1) 22.0% 17.2% 21.1% 24.1% 28.6% 31.5% 19.7% 5.0% 10.0% Risk - weighted assets (end of period, in € billion) 84.4 86.8 85.3 44.1 45.2 44.7 40.3 41.5 40.6 Retail Benelux: Consolidated pro fi t or loss account 1) After - tax return divided by average equity based on 12.5% of RWA (annualised). Retail Netherlands Net interest income was impacted year - on - year by lower margins on customer deposits combined with a decline in lending volumes, re fl ecting subdued demand. Sequentially, the net interest result was supported by higher prepayment penalties on mortgages, while the pressure from the replicating portfolio on the customer deposits margin this quarter was o ff set by the increased charging of negative interest rates. The TLTRO III bene fi t was €13 million this quarter, up from €8 million in 2Q2021. Fee income bene fi ted from higher fees in daily banking, supported by increased fees for payment packages compared with a year ago; fees on investment products also increased. Net core lending growth in 3Q2021 was €0.1 billion and included €0.3 billion of higher mortgage volumes, largely o ff set by a €0.2 billion decline in other lending. Net core deposits growth was €1.7 billion, driven by higher current account balances in the Business Banking segment. Operating expenses in 3Q2021 included a €180 million provision for compensation to customers with certain consumer credit products, as well as €9 million of additional redundancy provisions and costs related to the accelerated closure of branches. The second quarter of 2021 had included €17 million of redundancy and restructuring costs, and 3Q2020 had included €30 million in provisions related to legal claims and branch closures. Expenses excluding regulatory costs and the aforementioned items declined by €24 million year - on - year and €14 million compared with the previous quarter. The decrease in expenses mainly re fl ected lower sta ff expenses and lower marketing costs. Risk costs showed a net release of €60 million, as releases in the mortgage and business lending portfolios more than o ff set an €8 million addition related to the consumer lending portfolio. Retail Belgium (including Luxembourg) Net interest income was supported by higher income from mortgages and positive Treasury - related revenues. The TLTRO III bene fi t was €17 million this quarter, up from €10 million in 2Q2021. Net interest income on customer deposits stabilised compared with 2Q2021, supported by higher income from negative interest rate charging, but it declined compared with a year ago due to lower margins. Fee income increased, primarily in daily banking products, supported by the raising and introduction of new fees for payment packages per 1 July. Investment product fees rose year - on - year, but were somewhat lower sequentially after a successful campaign in 2Q2021. Other income increased compared with both prior periods due to a €25 million capital gain on the sale of an associate in 3Q2021. Net core lending growth was € - 0.1 billion in 3Q2021, as €0.2 billion growth in residential mortgages was o ff set by a €0.3 billion decrease in business lending. Net core deposits showed an out fl ow of €1.1 billion following the impact of lowering the threshold for negative interest rate charging and the changes in daily banking fees. Operating expenses declined compared with both prior periods. Expenses excluding regulatory costs were €11 million lower year - on - year, mainly re fl ecting lower costs for professional services and IT. Sequentially, expenses excluding regulatory costs were €5 million higher, mainly due to higher KYC - related expenses, while 2Q2021 bene fi ted from the partial release of a provision. Risk costs showed a net release of €16 million, mainly re fl ecting releases in collective provisions in Stage 2, which were partly o ff set by Stage 3 additions for speci fi c fi les.

12 ING Press Release 3Q2021 Segment Reporting: Wholesale Banking Segment Reporting: Retail Banking Retail Germany (including Austria) Net interest income was supported year - on - year by a solid growth in lending income, which was o ff set however by continuing liability margin pressure. On a sequential basis, improved Treasury results and a higher margin on mortgages outpaced the liability margin pressure. Fee income again rose. Compared with 3Q2020, this increase was primarily due to a higher number of brokerage trades in investment products, while sequentially, fees paid to brokers were lower, re fl ecting seasonally lower mortgage production in ING Germany. As previously announced, ING has reached an agreement to transfer its retail operations in Austria to bank99. This resulted in an estimated €34 million one - o ff loss, recorded in Investment income. Momentum in mortgage and consumer lending asset generation continued with €2.2 billion of net core lending growth in 3Q2021, of which €1.8 billion was in mortgages. Net core deposits recorded an out fl ow of €4.3 billion and includes the impact of the announcement to introduce a negative interest rate to clients with liability balances above €50,000. Operating expenses were up slightly relative to one year ago. Sequentially, expenses declined from 2Q2021, which had included a €30 million catch - up in regulatory costs following the Greensill insolvency. Expenses excluding regulatory costs decreased by €12 million from 2Q2021, which had included costs associated with the discontinuation of the retail banking activities in Austria and a one - o ff payment to employees related to working from home. Risk costs were €23 million in 3Q2021, primarily re fl ecting model updates. Retail Other Challengers & Growth Markets Net interest income was supported by higher lending volumes. This partly compensated for negative currency impacts and lower margins compared with the year - ago quarter, mainly caused by the negative interest rate developments in Turkey. Sequentially, both lending and customer deposit margins stabilised. Fee income was at a high level of €133 million and increased versus both comparable quarters, mainly supported by higher fees from daily banking and investment products. Investment income included the annual dividend from the Bank of Beijing of €97 million versus €95 million in 3Q2020. Other income was on the same level as in the previous quarter, but it improved strongly from 3Q2020, which had included a €230 million impairment on ING’s equity stake in TMB. Net core lending growth was €2.5 billion in 3Q2021, mainly supported by mortgage growth in Poland, Spain and Australia, as well as business lending growth in Poland and Romania. Net customer deposits growth (excluding the Czech run - o ff portfolio) was €1.8 billion, fully driven by growth in the non - eurozone countries. In 3Q2020, expenses included a €140 million impairment following the decision to stop the Maggie project, as well as a €7 million legal provision in Spain. Also adjusted for the aforementioned items, expenses excluding regulatory costs decreased 1.4% versus the previous year and 2.0% sequentially, mainly due to the discontinuation of retail activities in the Czech Republic and project Maggie. Risk costs were €72 million and mainly re fl ected net additions in Spain and Poland. In € million Retail Challengers & Growth Markets 3Q2021 3Q2020 2Q2021 Germany Other Challengers & Growth Markets 3Q2021 3Q2020 2Q2021 3Q2021 3Q2020 2Q2021 Profit or loss Net interest income 1,039 1,085 1,032 365 395 356 675 690 676 Net fee and commission income 247 206 232 115 97 108 133 109 124 Investment income 67 99 1 - 32 3 0 98 96 1 Other income 92 - 160 98 15 19 23 77 - 179 75 Total income 1,446 1,230 1,362 463 515 488 983 715 874 Expenses excl. regulatory costs 747 899 769 254 253 266 493 647 503 Regulatory costs 75 74 112 20 19 49 55 55 63 Operating expenses 822 973 881 274 272 315 548 702 566 Gross result 624 256 482 189 243 173 435 13 309 Addition to loan loss provisions 96 140 35 23 26 16 72 114 19 Result before tax 528 116 447 166 217 158 363 - 100 289 Profitability and efficiency Net core lending growth (in € billion) 4.7 1.9 4.4 2.2 1.4 2.2 2.5 0.5 2.2 Net core deposits growth (in € billion) - 2.5 3.8 4.4 - 4.3 1.7 3.8 1.8 2.0 0.6 Cost/income ratio 56.8% 79.2% 64.6% 59.2% 52.8% 64.5% 55.7% 98.1% 64.7% Risk costs in bps of average customer lending 19 30 7 10 12 7 28 47 8 Return on equity based on 12.5% CET1 1) 17.2% 2.4% 13.2% 11.9% 17.6% 11.4% 20.6% - 6.9% 14.3% Risk - weighted assets (end of period, in € billion) 78.1 76.3 79.3 30.4 29.5 30.8 47.7 46.9 48.4 Retail Challengers & Growth Markets: Consolidated pro fi t or loss account 1) After - tax return divided by average equity based on 12.5% of RWA (annualised).

13 ING Press Release 3Q2021 Segment Reporting: Wholesale Banking Net interest income in 3Q2021 bene fi ted from improved margins on lending and higher net interest income on customer deposits (re fl ecting higher negative interest charges), as well as higher interest results in Financial Markets and in Treasury & Other. Compared with one year ago, 3Q2021 was furthermore supported by the recognition of a €39 million conditional TLTRO III bene fi t. This more than compensated for lower average lending volumes. Sequentially, net interest income increased due to higher interest results in Lending (mainly higher margins) and in Financial Markets. The previous quarter included a €31 million TLTRO III bene fi t. Fee income increased 16.6% year - on - year due to various fee and pricing initiatives in Payments & Cash Management (PCM), higher fee income in Trade & Commodity Finance (TCF) on the back of higher oil prices, higher deal fl ow in both Global Capital Markets (GCM) and Corporate Finance, as well as improved syndicated deal activity in Lending. Sequentially, fee income decreased 2.3%, as higher fee income from improved syndicated deal activity could not fully compensate for a lower deal fl ow in GCM, and for lower fee income in Treasury & Other and Daily Banking & Trade Finance (Securities Services). Other income declined compared to 3 Q 2020 due to Financial Markets, mainly re fl ecting lower (positive) valuation adjustments . Sequentially, other income was higher in Lending (negative valuation adjustments in the previous quarter) and in Treasury . Net core lending growth was € - 1.6 billion in 3Q2021, including €1.0 billion of growth in Daily Banking & Trade Finance (primarily in Working Capital Solutions). This was more than o ff set by € - 2.5 billion attributable to Lending and € - 0.3 billion in Financial Markets, mainly re fl ecting repayments on short - term facilities. Net core customer deposits increased by €1.4 billion, mainly in PCM. Expenses excluding regulatory costs in 3Q2021 included a €44 million impairment on Payvision (following the announced phasing out of its services) and €14 million of legal provisions compared to €18 million of legal provisions in the previous quarter and €14 million of impairments in 3Q2020. Excluding regulatory costs, the aforementioned items and currency impacts, expenses increased 1.4% compared to 3Q2020. This was mostly due to higher performance - related sta ff costs, higher IT expenses and increased VAT (including some impact of the Danske Bank case), partly o ff set by continued cost - e ffi ciency measures. Sequentially, adjusted expenses increased 0.3%. Risk costs amounted to €19 million in 3Q2021, including releases in collective provisions, o ff set by individual Stage 3 provisioning. The 3Q2021 result before tax of Lending improved signi fi cantly year - on - year. This was driven by higher income (including the TLTRO III bene fi t) and lower risk costs. The TLTRO III bene fi t was €24 million in 3Q2021 compared with €13 million in 2Q2021. In € million 3Q2021 3Q2020 2Q2021 Profit or loss Net interest income 1,042 909 1,006 Net fee and commission income 295 253 302 Investment income 3 2 2 Other income 124 210 84 Total income 1,463 1,374 1,394 Expenses excl. regulatory costs 700 644 656 Regulatory costs 7 8 9 Operating expenses 707 652 665 Gross result 756 722 730 Addition to loan loss provisions 19 145 - 149 Result before tax 737 577 879 of which: Lending 609 381 682 Daily Banking & Trade Finance 50 85 131 Financial Markets 79 111 79 Treasury & Other 0 1 - 13 Profitability and efficiency Net core lending growth (in € billion) - 1.6 - 8.0 - 9.0 Net core deposits growth (in € billion) 1.4 - 1.0 - 2.5 Cost/income ratio 48.3% 47.4% 47.7% Risk costs in bps of average customer lending 4 33 - 33 Return on equity based on 12.5% CET1 1) 12.1% 8.8% 14.9% Risk - weighted assets (end of period, in € billion) 145.0 146.6 141.0 Wholesale Banking: Consolidated pro fi t or loss account Total Wholesale Banking 1) After - tax return divided by average equity based on 12.5% of RWA (annualised).

14 ING Press Release 3Q2021 Segment Reporting: Corporate Line Segment Reporting: Wholesale Banking Excluding the TLTRO III bene fi t, income increased both year - on - year and sequentially, mainly re fl ecting a higher net interest margin and higher fee income. Average customer lending, however, decreased both year - on - year and sequentially due to the repayment of short - term facilities. Expenses excluding regulatory costs remained stable compared to the previous quarter. The quarterly result before tax of Daily Banking & Trade Finance decreased both year - on - year and sequentially. Income increased year - on - year, driven by higher PCM income (re fl ecting pricing and fee initiatives), higher TCF income (higher average oil prices and improved margins) and a €3 million TLTRO III bene fi t. The higher income was o ff set by elevated risk costs in the TCF business as well as a €44 million impairment on Payvision (3Q2020 had included €12 million) and higher legal provisions. Sequentially, income was in line with the previous quarter. The result before tax of Financial Markets decreased year - on - year. This was mainly due to lower positive valuation adjustments, which were partly compensated by a €12 million TLTRO III bene fi t as well as higher deal fl ow in GCM. Sequentially, income decreased slightly as lower income in GCM and FM Trading (primarily in Commodity products), was mostly compensated by increased positive valuation adjustments. Treasury & Other recorded a break - even result before tax in 3Q2021 versus €1 million in 3Q2020. Income improved year - on - year, re fl ecting higher Corporate Finance fees and som e one - o ff r e v enues f r o m th e R ea l E s tat e run - o ff por t f oli o. This was o ff set by higher risk costs and higher IT and VAT expenses. Sequentially, the result before tax improved by €13 million, mainly re fl ecting higher Treasury capital gains and the a fo r ementione d in c om e o n th e R ea l E s tat e run - o ff por t f oli o, while expenses declined as 2Q2021 included €14 million of legal provisions. These impacts were partly o ff set by higher risk costs.

15 ING Press Release 3Q2021 Segment Reporting: Corporate Line Total income in the Corporate Line was €32 million and included an initial €7 million funding rate bene fi t related to TLTRO III versus €32 million in 2Q2021. The remaining bene fi t from TLTRO III has been recorded in the net interest income of the respective business segments. Year - on - year, total income increased, mainly due to higher results from foreign currency ratio hedging and lower legacy funding costs resulting from the replacement of short - term funding with long - term funding during 2012 and 2013. The second quarter of 2021 included the recognition of a €72 million receivable related to the insolvency of a Dutch fi nancial institution; this has been reported in other income. Operating expenses in 3Q2021 increased versus both comparable quarters, partly due to higher expenses from shared service centres following a shift in allocations between quarters, and compared with 2Q2021 to a lower VAT refund. The increase compared with 3Q2020 was also due to higher shareholder expenses following a change in the allocation of group overhead expenses in the fourth quarter of 2020; this impact was largely o ff set by a lower allocation of group overhead expenses in the business lines. In € million 3Q2021 3Q2020 2Q2021 Profit or loss Net interest income 34 15 56 Net fee and commission income 1 2 0 Investment income 0 0 0 Other income - 3 - 39 52 Total income 32 - 22 109 Expenses excl. regulatory costs 131 95 123 Regulatory costs 0 5 0 Operating expenses 131 100 123 Gross result - 99 - 122 - 14 Addition to loan loss provisions 0 0 0 Result before tax - 99 - 122 - 14 of which: Income on capital surplus 5 - 7 - 1 Foreign currency ratio hedging 72 55 71 Other Group Treasury - 67 - 67 - 40 Group Treasury 10 - 20 31 Other Corporate Line - 109 - 102 - 45 Corporate Line: Consolidated pro fi t or loss account

16 ING Press Release 3Q2021 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 57,000 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 forms an integral part of ING’s strategy, evidenced by ING’s leading position in sector benchmarks. ING's ESG rating by MSCI was upgraded to 'AA' in December 2020. ING Group shares are included in major sustainability and Environmental, Social and Governance (ESG) index products of leading providers STOXX, Morningstar and FTSE Russell. In January 2021, ING received an ESG evaluation score of 83 ('strong') from S&P Global Ratings. Further information All publications related to ING’s 3Q2021 results can be found at www.ing.com/3q2021, 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 Analyst presentation (also available via SlideShare) • 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. ING presentations are available at SlideShare. 3Q2021 2Q2021 1Q2021 4Q2020 3Q2020 Shares (in millions, end of period) Total number of shares 3,904.1 3,904.0 3,904.0 3,900.7 3,900.6 - Treasury shares 0.4 0.7 0.7 0.6 1.5 - Shares outstanding 3,903.6 3,903.3 3,903.4 3,900.1 3,899.2 Average number of shares 3,903.5 3,903.4 3,900.4 3,899.8 3,900.0 Share price (in euros) End of period 12.57 11.14 10.43 7.64 6.06 High 12.66 11.65 10.61 8.60 7.17 Low 10.08 10.10 7.30 5.76 5.87 Net result per share (in euros) 0.35 0.37 0.26 0.19 0.20 Shareholders' equity per share (end of period in euros) 14.20 14.40 14.10 14.01 13.90 Distribution per share (in euros) - 0.48 - 0.12 - Price/earnings ratio 1) 10.8 10.9 14.4 12.0 9.0 Price/book ratio 0.88 0.77 0.74 0.55 0.44 Share information 1) Four - quarter rolling average. Financial calendar Publication results 4Q2021 Publication 2021 ING Group Annual Report 2022 Annual General Meeting Ex - date for fi nal dividend 2021 (Euronext Amsterdam) 1) Record date for fi nal dividend 2021 entitlement (Euronext Amsterdam) 1) Record date for fi nal dividend 2021 entitlement (NYSE) 1) Publication results 1Q2022 Payment date fi nal dividend 2021 (Euronext Amsterdam) 1) Payment date fi nal dividend 2021 (NYSE) 1) ING Investor Day Publication results 2Q2022 Ex - date for interim dividend in 2022 (Euronext Amsterdam) 1) Record date for interim dividend in 2022 entitlement (Euronext Amsterdam) 1) Record date for interim dividend in 2022 entitlement (NYSE) 1) Payment date interim dividend in 2022 (Euronext Amsterdam) 1) Payment date interim dividend in 2022 (NYSE) 1) Publication results 3Q2022 Thursday, 3 February 2022 Thursday, 10 March 2022 Monday, 25 April 2022 Wednesday, 27 April 2022 Thursday, 28 April 2022 Thursday, 28 April 2022 Friday, 6 May 2022 Monday, 9 May 2022 Monday, 9 May 2022 Monday, 13 June 2022 Thursday, 4 August 2022 Monday, 8 August 2022 Tuesday, 9 August 2022 Monday, 15 August 2022 Monday, 15 August 2022 Monday, 22 August 2022 Thursday, 3 November 2022 1) Only if any dividend is paid. All dates are provisional.

17 ING Press Release 3Q2021 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 2020 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 (2) the 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) political instability and 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 (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 who feel mislead 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 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 cyber - attacks 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) the 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 and other risks and challenges in connection with climate change (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 .