ING provides update on 2020 Annual General Meeting

ING provides update on 2020 Annual General Meeting

In the context of the coronavirus pandemic, ING today provides an update on the 2020 Annual General Meeting. ING confirms that it will hold the 2020 AGM on 28 April 2020. In order to mitigate health risks for all participants and to comply with Dutch government directives, a number of aspects of the meeting will be changed from what was earlier indicated.

In light of current government guidance, the location of the AGM will be changed to ING’s corporate office Cedar, Bijlmerdreef 106 in Amsterdam, the Netherlands. On behalf of ING only a limited number of Executive Board and Supervisory Board members will attend the meeting in person; other members will follow or, to the extent needed, participate in the meeting remotely. ING will also forego the tradition of offering food and drinks before and after the meeting in an informal setting.

Given government instructions and restrictions, a limited number of places for shareholders’ in person participation will be available at the AGM venue. In these extraordinary circumstances, to limit health risks for all parties involved, we urge shareholders not to attend the AGM in person. Shareholders that nevertheless wish to attend the meeting in person, are requested to follow the usual instructions as available on www.ing.com/agm. If the number of shareholders wishing to attend in person exceeds the capacity, ING will make a fair selection via a blind draw by the civil law notary and will inform shareholders who have applied. Shareholders who do attend the meeting in person will do so at their own health risk and are responsible for maintaining the mandatory social distance at all times.

In light of the above we encourage shareholders to cast their votes online prior to the meeting, following the usual instructions on www.ing.com/agm. The 2020 AGM will be webcast live via www.ing.com so that all shareholders will be able to follow the meeting. In addition, shareholders who have registered at the registration date will be able to submit questions on the AGM agenda items in writing, in advance of the meeting via the link at www.ing.com/agm until 17:30 pm CET on 21 April 2020. ING intends to answer these questions during the meeting.

The full details of all AGM proposals are included in the proxy materials for ING’s 2020 AGM, which are available at www.ing.com/agm. As announced on 30 March 2020, ING will follow the recommendations made by the European Central Bank to European banks on 27 March 2020 regarding dividend distributions. ING is well capitalised, above regulatory requirements, but in line with the ECB’s recommendations, it will suspend any payment of dividends on its ordinary shares until at least 1 October 2020. Accordingly, at the AGM the proposal to pay a final 2019 dividend (agenda item 3B) will not be put to a vote and has been removed from the agenda. ING will review any further dividend announcements after 1 October 2020. The proposed dividend distribution as reflected in the ING Group 2019 Annual Report is amended by the new information included in the press release of 30 March 2020.

ING will continue to closely monitor developments and might further change aspects of the AGM based on relevant circumstances. Updates and further details on the AGM will be shared at www.ing.com/agm when appropriate. Information for holders of American depositary shares is available at www.ing.com/ads. Shareholders are advised to check the information regularly.

Note for editors

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 of ING operations, buildings and its executives are available for download at Flickr. ING presentations are available at SlideShare.

Attachment

• PDF version of press release