Company: INGVF
Filing Date: 2025-03-06
Form Type: 20-F
Source: 0001628280-25-010764
Chunk: 154

Company: ING GROEP NV
Filing Date: 2025-03-06
Form: 20-F
Item: Item 6
Chunk 154
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 of the SB in accordance with the Articles of Association.
Composition and diversity
ING Group aims to have an adequate and balanced composition of its SB, with a mix of persons with knowledge, skills and executive experience, preferably gained in the banking sector, experience in corporate governance of large stock-listed companies, and experience in the political and social environment in which such companies operate. In the selection of the members of the SB, ING strives for a balance in nationality, gender, education and work background. In addition, there should be a balance of experience and affinity with the nature and culture of the business of ING. ING believes that diverse leadership at the level of the SB fosters a diversity of views and experiences and facilitates independent opinions and sound decision-making, which has a positive impact on ING’s business. According to the Dutch Gender Diversity Act, ING is required to comply with a gender-diversity quota of one third male and one third female for its SB. In 2024, the SB consisted of six male members and three female members. ING believes the SB is also well balanced in terms of other relevant diversity aspects. Also, the SB had an international composition in 2024, with five persons of Dutch nationality and four persons with other nationalities. 

The SB is responsible for selecting and nominating candidates for appointment or reappointment to the SB, based on, among other factors, the SB profile, which is available on ing.com. The SB regularly assesses its composition.
Appointment, suspension and dismissal
Members of the SB are appointed, suspended and dismissed by the General Meeting. The SB may draw up a binding list of candidates for appointment and may propose the dismissal and suspension of SB members. Candidates for appointment to the SB are assessed by the DNB and ECB for suitability and reliability and must continue to meet these criteria while in function. 
A resolution of the General Meeting to render this list non-binding, or to suspend or dismiss SB members without this being proposed by the SB, requires an absolute majority of the votes cast. Additionally, this majority must represent more than half of the issued share capital. In a second general meeting, such a resolution also requires an absolute majority of the votes cast, and this majority must represent more than half of the issued share capital. This ensures that such significant resolutions can only be adopted with substantial support of ING Group’s shareholders.
Term of appointment of the Supervisory Board members
As a general rule, SB members step down from the SB after the fourth anniversary of their last