ING aims to deliver its financial products and services in the way its customers want them

delivered: with exemplary service, convenience and at competitive prices. This is reflected in our
mission statement: to set the standard in helping our customers manage their financial future.

Our profile
ING is a global financial institution of Dutch origin, currently offering banking, investments, life
insurance and retirement services to meet the needs of a broad customer base. Going forward,
we will concentrate on our position as an international retail, direct and commercial bank, while
creating an optimal base for an independent future for our insurance operations (including
investment management).

Our strategy
To serve the interests of our stakeholders, increase management focus and create value for our
shareholders, ING is moving towards separation of its banking and insurance operations. We
believe the widespread demand for greater simplicity, reliability and transparency makes this the
best course of action. In the future, ING Bank will build on its global presence and international
network and capitalise on its leadership position in gathering savings, multi-channel distribution,
simple propositions and marketing. ING Insurance has a strong position as a global provider of life
insurance and retirement services and is very well-positioned to capitalise on socio-economic
trends. We will focus on earning our customers’ trust through transparent products, value for
money and superior service. This reflects our universal customer ideal: saving and investing for
the future should be easier.

Our stakeholders
ING conducts business on the basis of clearly defined business principles. In all our activities, we
carefully weigh the interests of our various stakeholders: customers, employees, business
relations and suppliers, society at large and shareholders. ING strives to be a good corporate
citizen.

Our corporate responsibility

ING wants to build its future on sustainable profit based on sound business ethics and respect for
its stakeholders and be a good corporate citizen. For only by acting with professionalism and
integrity, will we be able to maintain our stakeholders’ trust and preserve our reputation. Our
Business Principles prescribe the corporate values we pursue and the responsibilities we have
towards society and the environment: we act with integrity, we are open and clear, we respect
each other and we are socially and environmentally responsible.

ING’s business lines

Banking
From 1 January 2010, the banking activities are divided into two main business lines: Retail
Banking and Commercial Banking. Retail Banking is composed of Retail Netherlands, Retail
Belgium, Retail Central Europe, Retail Asia and ING Direct. Commercial Banking also manages
ING Real Estate.

Retail Banking
Retail Banking provides retail and private banking services to individuals and small and
medium-sized enterprises in the Netherlands, Belgium, Luxembourg, Poland, Romania, Turkey,
India, Thailand and China (through a stake in Bank of Beijing) with a multi-product, multi-
channel distribution approach. In mature markets, we focus on wealth accumulation, savings
and mortgages, with an emphasis on operational excellence, cost leadership and customer
satisfaction. In developing markets we aim to become a prominent local player by offering
simple but high quality products. ING Direct offers direct banking services in Canada, Spain,
Australia, France, the US, Italy, Germany, the UK and Austria. ING Direct’s focus is on offering
five simple and transparent retail banking products at very low cost: savings, mortgages,
payment accounts, investment products and consumer lending.

Commercial Banking
Commercial Banking primarily targets large corporations in the Netherlands, Belgium, Poland
and Romania, where we offer a full range of products, from cash management to corporate
finance. Our international network has a more selective approach. We are building leading
positions in a number of key product areas, including Structured Finance, Financial Markets,
Payments and Cash Management, and Leasing. Commercial Banking also manages ING Real
Estate.

Insurance
From 1 January 2010, the insurance activities are structured by region: Insurance Benelux,
Insurance Central & Rest of Europe, Insurance United States, Insurance Latin America and
Insurance Asia/Pacific. ING Investment Management is part of the insurance activities.

Insurance Benelux
Insurance Benelux includes ING’s life and non-life insurance, investment and pension
businesses in the Netherlands, Belgium and Luxembourg. Insurance Benelux, already a leading
player in the industry, aims to become the most efficient large insurer in the region.

Insurance Central & Rest of Europe

Insurance Central & Rest of Europe consists of ING’s life insurance and pensions operations in
nine countries which include Poland, the Czech Republic, Slovakia, Hungary, Romania, Greece
and Spain as well as greenfield operations in Bulgaria and Turkey.

Insurance US
Insurance US includes ING’s retirement services and life insurance operations in the US. In the
US, ING is the third-largest provider of defined contribution retirement plans in terms of assets
under management and administration. In retirement services, ING provides defined
contribution plans for corporations, education, government and health care institutions as well
as retail retirement products such as low cost variable annuities, fixed annuities, IRAs and
mutual funds.

Insurance Latin America

Insurance Latin America includes ING’s pension, insurance and investment businesses in the
region and is present in six countries including Mexico, Chile, Peru, Colombia, Uruguay, and
Brazil through its joint venture in SulAmérica, the leading wealth management and insurance
company in the country. In Latin America, ING is the second largest provider of mandatory
pensions.

Insurance Asia/Pacific
Insurance Asia/Pacific is the third largest life insurance company in the region in terms of gross
premiums and is present in seven countries including Japan, Malaysia, South Korea, Thailand,
China, Hong Kong and India. It offers life insurance, investment and retirement services
products and services to a broad range of retail, corporate and institutional clients.

ING Investment Management

ING Investment Management is a leading global asset manager and is the principal investment
manager of ING Group. It has operations in 33 countries across the Americas, Asia-Pacific,
Europe and the Middle East. ING IM provides retail and institutional clients with access to
domestic, regional and global investment solutions.
ING was founded in 1991 by a merger between Nationale-Nederlanden and NMB Postbank
Group. During the past years ING has become a multinational with diverse international activities.

The roots of ING can be traced to the insurers De Nationale Levensverzekering Bank and De
Nederlanden van 1845 and to the public bank services such as De Rijkspostspaarbank andDe
Postcheque- and Girodienst, as well as to the Nederlandsche Middenstands Bank. These are the legal
predecessors of the ‘founding fathers’ of ING: Nationale-Nederlanden and NMB Postbank Group.

The founding of ING as one company was started in 1990 when the legal restrictions on mergers
between insurers and banks were lifted in the Netherlands. This prompted insurance company
Nationale-Nederlanden and banking company NMB Postbank Groep to enter into negotiations. The
merger into Internationale Nederlanden Groep took place in 1991. The market soon abbreviated the
name to I-N-G. The company followed suit by changing the statutory name to ING Groep N.V. Since
1991, ING has developed from a Dutch company with some international business to a multinational
with Dutch roots. This was achieved through a mixture of organic growth, such as the creation of ING
Direct from scratch, as well as various large acquisitions.

The first large acquisition took place in 1995, when ING took over Barings Bank. This acquisition
increased the brand recognition of ING around the world and strengthened its wholesale banking
presence in the emerging markets. And then there was Life of Georgia. This insurance company was
acquired by Nationale-Nederlanden in 1979, resulting in a significant increase in activities in the US. Via
Life of Georgia, the activities in Asia expanded considerably. However in 2004, ING as a group had
become well-established in both regions and Life of Georgia was sold.

Other acquisitions, such as the Belgian Bank Brussels Lambert, strengthened the Group’s presence in the
Benelux. In addition, the activities in de United States were doubled as a result of organic growth and
the acquisition of Equitable of Iowa, ReliaStar, Aetna Financial Services and merchant bank Furman Selz.

ING is also active in other parts of the world. In 2001, ING acquired a majority interest in the Polish Bank
Śląski and entered the Indian life insurance market through ING Vysya Life Insurance.

Furthermore, ING participates in a number of financial institutions. An important example is the

partnership with the Bank of Beijing.