ING completes share buyback and announces new distribution programme of up to €1.6 billion

Core Viewpoint - ING has completed a share buyback program totaling €2.0 billion and announced a new distribution program of up to €1.6 billion, which includes a share buyback and cash payment aimed at optimizing its CET1 ratio [1][4]. Share Buyback Program - The completed share buyback program involved repurchasing 101,193,469 ordinary shares at an average price of €19.77, amounting to a total consideration of €2,000,093,404.60 [1]. - In the final week of the program, 597,578 shares were repurchased at an average price of €20.73, totaling €12,390,421.28 [2]. - The total purchases exceeded the maximum amount due to performance arrangements with the executing broker, with the effective average price for ING being €19.76 [3]. New Distribution Program - The new shareholder distribution consists of a share buyback program for a maximum of €1.1 billion and a cash payment of €0.5 billion, aimed at aligning the CET1 ratio closer to the target of approximately 13% [4]. - As of the end of Q3 2025, ING's CET1 ratio was 13.4%, significantly above the required 10.95% [5]. - The new share buyback program is set to commence on 30 October 2025 and conclude by 27 April 2026, with the cash payment scheduled for 15 January 2026 [5]. Regulatory Compliance - The European Central Bank (ECB) has approved the distribution, and the share buyback will comply with the Market Abuse Regulation, adhering to the authority to acquire a maximum of 20% of issued shares [6]. - ING has established a non-discretionary arrangement with a financial intermediary to manage the buyback process [6]. Communication and Updates - ING will provide weekly updates on the progress of the share buyback program through press releases and on its Investor Relations website [7].