Investor Relations

THE MATERIALS CONTAINED HEREIN ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA (WITH ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA, COLLECTIVELY, THE “U.S.”) OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

THE BASE PROSPECTUS AND THE FINAL TERMS (together, the “Prospectus”) and any other information behind this screen has been prepared in connection with the EUR 5,000,000,000 Covered Bond Programme (the “Programme”) of ING Bank Hipoteczny S.A., a mortgage bank in the form of a joint stock company incorporated under the laws of Poland, having its registered office at ul. Chorzowska 50, 40-101 Katowice, Poland. The distribution of the Prospectus and such information and the offer and sale of the securities described in the Prospectus in certain jurisdictions may be restricted by law. Any persons reading this important information should inform themselves of and observe any such restrictions.

The Prospectus and any other information behind this screen do not constitute an offer of securities or a solicitation of an offer to purchase securities in the U.S. or any other jurisdiction. The securities described in the Prospectus have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state of the United States, or other relevant jurisdiction within the United States and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except in certain transactions exempt from the registration requirements of the Securities Act. Any forwarding, distribution or reproduction of the Prospectus in whole or in part is prohibited. Failure to comply with this notice may result in a violation of the Securities Act or the applicable laws of other jurisdictions.

I agree

Base Prospectus dated 5 September 2019

Base Prospectus dated 2 December 2021

Series 1 Mortgage Covered Bonds

Final terms

Covered bonds supporting activities related to sustainable development

x

We care about the environment

Natural environment is our common future and at the same time our common responsibility. ING Bank Śląski Group as one of the leading financial institutions in Poland has significant influence on many economic processes and individual choices. Today’s decision shape our future, that is why we try to minimize trace left by our activity in the environment and at the same time help our Clients in energy transformation and transition to low carbon solutions.

Buildings are responsible for around 40% of energy usage in EU and generate 36% of total CO2 emissions, 35% of buildings was built more than 50 years ago and 75% is energy inefficient. European buildings sector has significant potential in terms of energy efficiency improvement and stepping on gradual decarbonization path is a requirement which we need to face today.

Our strategy

By taking part in Group’s long term strategy, ING Bank Hipoteczny prepared Green Covered Bond Framework – document which presents our commitment to investors in terms of use of proceeds related to covered bonds issuance. In line with this document proceeds from issuance will be used to finance or re-finance energy efficient real estates (for additional information please see Green Covered Bonds Framework). Criteria for energy efficiency evaluation were developed by German consultant Drees & Sommer. Our approach is based on international standard, assuring transparency and high quality of information for investors which was developed by International Capital Markets Association and presented within Green Bonds Principles. In line with this standard our Framework consists of four main blocks:

Use of proceeds
Process for project evaluation and selection
Management of proceeds
Reporting

Our Framework was evaluated by one of the leading ESG rating agencies ISS – oekom who issued Second Party Opinion – document confirming compliance with highest market standards. In its opinion ISS – oekom pointed positive impact of the Bank’s approach on areas defined by United Nations within Sustainable Development Goals (UN SDGs).

We have also received certification by Climate Bonds Initiative – international organization which based on rigorous criteria evaluates if financial instrument contributes to the 2 degrees Celsius warming limit in the Paris Agreement. Climate Bonds Initiative certification is widely used by stakeholders to evaluate if financial instrument addresses climate changes.

Covered bonds supporting activities related to sustainable development

In 2019, ING Bank Hipoteczny issued covered bonds based on the "Green Covered Bond Framework of ING Bank Hipoteczny S.A." compliant with ICMA "Green Bond Priciples" (GBP) and certified by the Climate Bonds Initiative.

Climate Bonds Certificate

Green Covered Bond Criteria

Green Covered Bond Framework

Second Party Opinion 2019

Green Bond Allocation Report 2019

Post – issuance Green Bond Impact Report 2019

Green Bond Allocation Report 2020

Post – issuance Green Bond Impact Report 2020

Second Party Opinion 2021

Green Bond Allocation Report 2021

Post – issuance Green Bond Impact Report 2021

Green Bond Allocation Report 2022

Post – issuance Green Bond Impact Report 2022

Rating

x

Category	Rating
Covered Bonds	Aa1
Long-term Issuer Rating	Baa1
Short-term Issuer Rating	P-2
Long-term Counterparty Risk	A2
Short-term Counterparty Risk	P-1
Outlook	Stable
LT/ST Credit Risk Assesment	A2 (cr) / P-1 (cr)