Commentary & Deal Flow

Reoffer: 5.25yr: MS+21bp / 99.941 / 3.014%
Benchmark: 5.25yr: OBL 2.5 31 #193 @ 99.23 / B+34.70 / HR 107%

Final book above €1.9bn (incl 140m JLM interest). Peak book above €2.2bn.

Launched: 5.25yr: €750m @ MS+21bp - Books above €2.2bn (incl. €140m JLM)
Book Update: Books above €1.5bn (excl. JLM)
Guidance: 5.25yr: MS+28a

• Issuer: ING Belgium NV/SA
• Issuer Legal Entity Identifier (LEI): JLS56RAMYQZECFUF2G44
• Issue Ratings: Aaa/AAA (Moody's/Fitch)
• Status: Belgian Mortgage Pandbrieven (collateral 100% Prime Belgian Residential Mortgages)
• EU Harmonisation Label: European Covered Bond (Premium)
• Size: €750m
• Reoffer: MS+21bp / 99.941% / 3.014%
• Benchmark: OBL 2.5 31 #193 / B+34.70 / 99.23 /HR: 107%
• Settlement Date: 09-Jun-26 (T+5)
• Maturity Date: 09-Sep-31 – 5.25yr Soft Bullet
• Coupon: 3.000%, Fixed Annual, Short first
• Coupon during Extended Maturity: 1 month Euribor + 21bps, per annum, monthly in arrear, from 09-Sep-31 until 09-Sep-32
• Day Count Fraction until the Maturity Date: Actual/actual (ICMA)
• Business Day Convention until the Maturity Date: Following Business Day Convention, unadjusted
• Day Count Fraction during Extended Maturity: Actual/360
• Business Day Convention during Extended Maturity: Following Business Day Convention, adjusted
• Business Day Centre: T2, Brussels
• ISIN: BE0390354265
• Denomination: €100,000 + €100,000
• Listing: Euronext Brussels
• Governing Law: Belgian Law
• Joint Lead Managers: Danske Bank, Erste Group, ING (B&D), La Banque Postale, LBBW, NORD/LB and SEB
• Documentation: Issued off the ING Belgium NV/SA €20bn Residential Mortgage Pandbrieven Programme dated 26-May-26
• Security Format: Dematerialized Notes in the X/N Clearing System of the National Bank of Belgium (“NBB”), Reg S.
• Target market: MiFID II professionals/ECPs-only/No PRIIPs KID – Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No EU PRIIPs key information document (KID) has been prepared as not available to retail in EEA
• Fees: The Joint Lead Managers will be paid a fee in connection to the transaction. Details of the fee may be available to investors upon request from your usual contact sales.
• Timing: TOE: 13:56 CET / FTT 14:15 CET
• Advertisement: This Term Sheet is an advertisement for the purposes of Regulation (EU) 2017/1129 (the “Prospectus Regulation”). It is not a prospectus or final terms for the purposes of the Prospectus Regulation. The Prospectus dated 26-May-26, and its supplement(s) thereto are available at https://www.ing.be/en/individuals/about-us/investor-information/residential-mortgage-pandbrieven-programme and the Final Terms, when published, will be available on the same website