ING Bank Slaski S.A. — Capital/Financing Update 2021

Nov 22, 2021

2021-11-22 Report No 25/2021: Update of information on the MRELrequirement for ING Bank Śląski S.A.

Further to Current Report No. 14/2020 of 20 March 2020, the ManagementBoard of ING Bank Śląski S.A. ("Bank") communicate to have received on18 November 2021 a letter from the Bank Guarantee Fund ("BGF")concerning the joint decision of the resolution bodies; i.e. the SingleResolution Board ("SRB") and the BGF on the minimum requirement for ownfunds and eligible liabilities ("MREL"). The decision was takenfollowing the Single Point of Entry (SPE) resolution strategy applicableto ING Group.

The MREL was adjusted in correspondence with the transposition of theDirective (EU) 2019/879 of the European Parliament and of the Council of20 May 2019 amending Directive 2014/59/EU as regards the loss-absorbingand recapitalisation capacity of credit institutions and investmentfirms and Directive 98/26/EC (the BRRD2) to the Polish legal regimethrough the Act on the Bank Guarantee Fund, the Deposit Guarantee Schemeand Forced Resolution of 10 June 2016 ("BGF Act").

The MREL set by the BGF in liaison with the SRB is 16.34% of the totalrisk exposure amount ("TREA") and 5.91% of the total exposure measure("TEM") on an individual basis. The Bank is required to meet the MREL by31 December 2023. The total MREL should be satisfied with own funds andeligible liabilities under Article 98 of the BGF Act transposing Article45f(2) of the BRRD2. The BGF expect that the recapitalisation-equivalentportion of the MREL would be met with additional Tier 1 (AT1)instruments, Tier 2 (T2) instruments and other subordinated eligibleliabilities bought directly or indirectly by the parent entity.

Furthermore, the BGF set interim MREL goals which for:_#8722; the TREA are12.17% as at 2021 yearend and 14.26% as at 2022 yearend, and_#8722; theTEM are 3.00% as at 2021 yearend and 4.46% as at 2022 yearend.

Legal grounds: Article 17.1 of Regulation (EU) No. 596/2014 of theEuropean Parliament and of the Council of 16 April 2014 on market abuse(MAR).