News Column

ING-Settlement of Initial Public Offering of NN Group

July 9, 2014



ENP Newswire - 09 July 2014

Release date- 07072014 - Today the Initial Public Offering of NN Group N.V. was settled. As a result of the settlement, ING Group has received EUR 2.0 billion in gross proceeds from the sale of 77 million existing ordinary shares in NN Group and the exchange into NN Group ordinary shares of EUR 450 million in mandatorily exchangeable notes.

Consequently, ING's ownership of NN Group has been reduced to 71.4%.

ING has granted the joint global coordinators, on behalf of the underwriters, an over-allotment option to purchase up to approximately 11.6 million additional shares in NN Group (up to 15% of the offer shares) at the offer price of EUR 20.00. The over-allotment option can be exercised until 30 days after 2 July 2014. If this option is fully exercised, ING's ownership in NN Group will be further reduced to 68.1%. ING intends to divest its remaining stake in NN Group in an orderly manner and ultimately by year end-2016.

NN Group shares were listed and started trading on Euronext Amsterdam (on an if-and-when-delivered basis) on 2 July 2014 . As of today, the shares are traded unconditionally under the listing name 'NN Group' and the symbol 'NN'.

As announced earlier, Jan Holsboer and Yvonne van Rooy have stepped down from the Supervisory Board of ING Group today to concentrate on their task as members of the Supervisory Board of NN Group. Ralph Hamers (CEO of ING Group), Patrick Flynn (CFO of ING Group), Wilfred Nagel (CRO of ING Group), Heijo Hauser and Hans Schoen have become members of the Supervisory Board of NN Group. As announced on 5 June 2014, the Executive Board of NN Group as of today comprises of Lard Friese, chairman and chief executive officer, and Delfin Rueda Arroyo, chief financial officer. The management board of NN Group comprises next to Lard Friese and Delfin Rueda of Stan Beckers (chief executive officer ING Investment Management), Doug Caldwell (chief risk officer), David Knibbe (currently chief executive officer International Insurance, chief executive officer Netherlands Insurance as of 1 September 2014) and Dorothee van Vredenburch (chief change and organization)

More information about NN Group and the IPO is available in the prospectus dated 17 June 2014, copies of which may, subject to securities law restrictions in certain jurisdictions, be obtained at no cost from NN Group's head office during normal business hours. Alternatively, the prospectus can be downloaded from NN Group's website at www.nn-group.com. This prospectus can also be found on the website of the AFM at www.afm.nl (Dutch residents only). In addition, a copy of the prospectus may be obtained free of charge by sending a request in writing or by email to ING Bank N.V. as Listing Agent: ING Bank N.V., Attn,: Paying Agency Services, Location code AMP L02.007, Amsterdamse Poort, Bijlmerplein 888, 1102 MG Amsterdam, the Netherlands, email iss.pas@ing.nl.

NOTE FOR EDITORS

Photos of NN Group and the NN Group listing event at Euronext Amsterdam are available at www.flickr.com/photos/nn-group. For further information on NN Group, please visit www.nn-group.com.

Photos of ING operations, buildings and its executives are available for download at www.flickr.com/photos/inggroup. Footage (B-roll) of ING is available via www.videobankonline.com, or can be requested by emailing info@videobankonline.com. ING presentations are available at www.slideshare.net/ING. For further information on ING, please visit www.ing.com.

ING PROFILE

ING is a global financial institution of Dutch origin offering services through its operating company ING Bank and holding significant stakes in the listed insurers NN Group NV and Voya Financial, Inc. The purpose of ING Bank is empowering people to stay a step ahead in life and in business. ING Bank's 63,000 employees offer retail and commercial banking services to customers in over 40 countries.

ING Group shares are listed (in the form of depositary receipts) on the exchanges of Amsterdam (INGA NA/ING.AS), Brussels and on the New York Stock Exchange (ADRs: ING US/ING.N). Sustainability forms an integral part of ING's corporate strategy, which is evidenced by ING being included in the Dow Jones Sustainability Index (Europe and World) and the FTS4Good index.

NN GROUP PROFILE

NN Group is an insurance and investment management company with a strong, predominantly European presence in more than 18 countries. With over 12,000 employees the group offers retirement services, insurance, investments and banking to more than 15 million customers. NN Group includes Nationale-Nederlanden, ING Insurance Europe, ING Investment Management and ING Life Japan and is listed on Euronext Amsterdam (NN).


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Source: ENP Newswire


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