Do not put content on the brand signature area Wednesday, May 14, First Quarter Financial and Operating Results

Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline 2 Charles Brindamour, Chief Executive Officer Mark Tullis, Chief Financial Officer Q&A session with: Martin Beaulieu, Senior VP, Personal Lines Peter Weightman, Senior VP, Commercial Lines Presenters

Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline 3 Q highlights Q1-2008Q1-2007Change Written insured risks (thousands) (0.5)% Direct premiums written (excluding pools) % Underwriting income (excluding MYA) (97.9)% Combined ratio (excluding MYA)99.9%96.0%3.9 pts Income before income taxes (87.0)% Income tax (benefit) expense(0.8)45.2(46.0) Net income (81.8)% Net operating income (37.8)% Earnings per share (EPS) – basic and diluted (dollars) (80.0)% Net operating income per share (dollars) (33.3)% Financial summary (in $ millions, except as otherwise noted) Severe winter storms and weak equity markets overshadowed otherwise solid underwriting performance. 1 Excludes the market yield adjustment.

Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline 4 Changes in pre-tax income – reconciliation Pre-tax operating income, as reported in Lower favourable prior year claims development (11.6) Current accident year: Higher current accident year underwriting income 5.4 Higher losses from catastrophes (26.0) Lower results from Facility Association (5.7) Change in underwriting income excluding MYA (37.9) Lower interest and dividend income, net of expenses (1.1) Corporate and distribution (15.2) Pre-tax operating income, as reported in (in $ millions, except as otherwise noted; excluding MYA) Income before income taxes, as reported in Q Change in net gains on invested assets and other gains excluding HFT debt securities (88.7) Change in pre-tax operating income (54.2) Market yield effect (6.3) Income before income taxes, as reported in Q Income tax benefit 0.8 Net income, as reported in

Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline 5 Direct premiums written 1) DPW annuallyDPW quarterly Direct premiums written increased by 1.7% overall from Q1-2007, driven by higher premiums in personal insurance, as well as unit growth in all lines of business except personal auto. 1) Excluding pools

Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline 6 DPW increased in personal lines due to higher average amounts insured and higher rates. Commercial premiums were flat as we maintained pricing discipline and a focus on more profitable small-medium accounts. Direct premiums written – by lines 1) Personal linesCommercial lines + 2.4% - 0.2% (in $ millions) 1) Excluding pools

Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline 7 Personal lines 1) Commercial lines 1) A marked increase in commercial underwriting income helped offset the adverse impact of winter storms on property results. (in $ millions) Net underwriting income (loss) – by lines + $18 - $56 1) Excluding MYA

Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline 8 Market-based yield The market-based yield was 5.1% this quarter, a slight increase from 5.0% in the same quarter last year. Market-based yield is a non-GAAP measure.

Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline 9 Return on equity ROE for the 12-month period ending March 31, 2008 was 13.0% compared to 19.4% for the 12 months that ended March 31, ROE equals net income over the last 12 months divided by the average shareholders’ equity during that same period.

Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline 10 Update on our share buyback program Up to 6.2 million outstanding shares over 12 month period, ending February million shares purchased for cancellation up to April 30, 2008 – which is equivalent to 17.1% of the planned buyback Paid $40.0 million for shares repurchased up to April 30, 2008 ING Groep has participated proportionately in the share buyback to maintain its ownership at 70% The NCIB and the recent dividend increase of 14.8% announced in February 2008 reflect ING Canada’s ongoing focus on capital management initiatives. Progress up to April 30, 2008 (in millions)

Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline 11 Certain of the statements contained in this presentation about our current and future plans, expectations and intentions, results, levels of activity, performance, goals or achievements or any other future events or developments constitute forward-looking statements. The words "may", "will", "would", "should", "could", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "likely" or "potential“ or the negative or other variations of these words or other comparable words or phrases, are intended to identify forward looking statements. Forward looking statements are based on estimates and assumptions made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we believe are appropriate in the circumstances. Many factors could cause our actual results, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward looking statements, including, without limitation, the following factors: our ability to implement our strategy or operate our business as we currently expect; our ability to accurately assess the risks associated with the insurance policies that we write; adverse capital market developments or other factors which may affect our investments; the cyclical nature of the property and casualty (P&C) insurance industry; our ability to accurately predict future claims frequency; government regulations; litigation and regulatory actions; periodic negative publicity regarding the insurance industry; intense competition; our reliance on brokers and third parties to sell our products; our ability to successfully pursue our acquisition strategy; the substantial influence of ING Groep; our participation in the Facility Association (a mandatory pooling arrangement among all industry participants); terrorist attacks and ensuing events; the occurrence of catastrophic events; our ability to maintain our financial strength ratings; our ability to alleviate risk through reinsurance; our ability to successfully manage credit risk; our reliance on information technology and telecommunications systems; our dependence on key employees; general economic, financial and political conditions; our dependency on the results of operations of our subsidiaries; the accuracy of analyst earnings estimates or the consensus figure based upon such estimates; the volatility of the stock market and other factors affecting our share price; and future sales of a substantial number of our common shares. These factors should be considered carefully, and readers should not place undue reliance on our forward looking statements. We have no intention and undertake no obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as required by law. Forward-looking statement disclaimer

Do not put content on the brand signature area Q Earnings conference call – August 13, 2008 at 10:00 a.m.