ING Groep N.V. Advances Share Buyback Programme

ING Groep N.V. Share Buyback Programme Update

ING Groep N.V., a prominent Dutch multinational banking and financial services corporation, has released an update on its ongoing share buyback programme. The company has made significant strides in its initiative to repurchase ordinary shares, demonstrating its commitment to enhancing shareholder value 1

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Programme Details and Progress

The share buyback programme, announced on February 2, 2024, aims to reduce ING's share capital. With a total value of €1.5 billion, the programme is scheduled to be executed within 12 months, concluding no later than February 1, 2025 2

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In the most recent update, ING reported the following progress for the week of July 1-5, 2024:

• Total shares repurchased: 2,037,486
• Average purchase price: €14.72
• Total consideration: €30,001,326.54

Cumulative Results

Since the programme's inception, ING has made substantial progress:

• Total shares repurchased: 72,604,153
• Average purchase price: €13.77
• Total consideration: €999,999,987.71

These figures indicate that ING has already completed approximately two-thirds of its planned €1.5 billion share buyback programme 1

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Execution and Transparency

The share buyback programme is being executed in compliance with the Market Abuse Regulation (EU) and the rules promulgated thereunder. ING has engaged a financial intermediary to coordinate and execute the buybacks independently, ensuring adherence to regulatory requirements 2

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In line with its commitment to transparency, ING provides weekly updates on the progress of the share buyback programme. These updates are made available on the company's website at www.ing.com/investorrelations, under Share buyback programmes 1

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Market Impact and Investor Sentiment

The consistent execution of the share buyback programme may have positive implications for ING's stock price and investor confidence. By reducing the number of outstanding shares, the programme can potentially increase earnings per share and signal management's belief in the company's intrinsic value 2

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As ING continues to make progress on its share buyback programme, investors and market analysts will likely keep a close eye on the company's financial performance and strategic decisions in the coming months.