ING Groep NV Annual Shareholders Meeting Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Nicky van Dijk - Milieudefensie - Analyst : Yeah, apologies. I had a different question. Steven Van Rijswijk - ING Groep NV - Chairman of the Executive Board and the Management Board Banking, Chief Executive Officer Okay.

Question: Nicky van Dijk - Milieudefensie - Analyst : Nicky van Dijk, Milieudefensie. (interpreted) Something struck me in your report. I think it was page 145, that there was reporting on financed emissions. And it struck me that for the first time you stated per industry how many of these fall under the TERRA Approach and others don't. In the previous years, you always said what part of the total final emission port fall under the TERRA Approach. So I took the liberty of calculating it myself based on this fantastic table, and I come to more than 70% of the emissions reported by ING don't fall under the TERRA Approach, so you have no emission reduction targets for this. Can you confirm this please? Steven Van Rijswijk - ING Groep NV - Chairman of the Executive Board and the Management Board Banking, Chief Executive Officer And the CSR, Steven will come back later. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. APRIL 22, 2025 / 12:00PM, INGA.AS - ING Groep NV Annual Shareholders Meeting Unidentified Company Representative So first on the granularity of data. Let's say in general, we mirror ING's approach. So sometimes the data is gathered centrally. Sometimes it needs to be received from the local offices. We focus on where the risks really are in going about that type of procedures. So our focus has been much more on the reported information in TERRA and not so much on the own operations and own staff emissions. We believe that the work that we have done, and this is limited assurance, so this is about an understanding of the reporting process, analytical reviews, and inquiry with management that the information in the report is sufficiently explained. And on page 124, thank you for your compliment on the readability of that table. Our job is to make sure that then what is presented here reconciles back to the underlying records and that we can confirm.