Investor presentation London, 16 March 2016

Morgan Stanley conference Gerrit Zalm, Chairman

Strong and balanced financial profile with focus on the Netherlands

Key financials and metrics Large proportion of recurring operating income

2015 2014 2013 2012
8,455 8,055 7,446 7,123
Operating income by line item
Operating Income (EUR m)
Cost/Income 61.8% 60.2% 63.6% 59.5%
Cost of Risk (bps) 19 45 63 54 Other operating Net interest
income income
NIM (bps) 146 153 134 120
7% FY2015 72%
Net Profit (EUR m) 1,924 1,551 752 1,112 EUR 8.5bn
ROE 12.0% 10.9% 5.5% 8.2%
Net fees and
Pay-out Ratio 40% 35% 30% 26% commissions
Total Assets (EUR bn) 390 387 372 394 22%
Shareholders Equity1 (EUR bn) 16.6 14.9 13.6 12.9
15.5% 14.1% 12.2% 10.0%
CET1 (fully loaded)
Operating income predominantly domestic
FTE 22,048 22,215 22,289 23,059
Operating income by region

 Steady growth in operating income

Rest of World
 ROE progression reflecting management actions 8% FY2015
Netherlands
80%
and improvement in economy, realised whilst EUR 8.5bn
building up capital position Rest of Europe
11%
 Strong CET1 ratio includes a buffer for regulatory
uncertainties

Note(s):
1. Equity attributable to the owners of the parent company

2
An attractive combination of businesses

Complementary business lines…

Retail Banking1 Private Banking1 Corporate Banking1
 Domestic business, c. 20-25% market  No. 1 in the Netherlands  Leading corporate bank in the Netherlands
share across all key products2  Leading positions in Germany & France  Strong presence in all segments
Key highlights  C. 5 m retail clients and c. 300,000 small  Presence in attractive Asian markets  Internationally active in: ECT Clients3, asset
businesses (turnover < EUR 1m) based finance and Clearing
 C. EUR 199bn client assets
 Upmarket positioning towards mass affluent
segment

Stable generator of income, with gearing to

Income Stable income in mature market Stable income with upside
market cycles

Efficient operations, C/I: 54.6%

Attractive financial C/I: 80.2% C/I: 62.2%
Profitability with consistently profile, with scale an Efficient operations
NP: EUR 1,226m NP: EUR 214m NP: EUR 596m
high profits important driver

Oper. Inc./RWA: Oper. Inc./RWA: Oper. Inc./RWA:

Capital Lower RWA intensity Capital light Higher RWA intensity
11% 15% 5%

Funding Funding gap LtD: 152% Funding surplus LtD: 25% Funding gap LtD: 121%

… that make significant contributions to each other’s success (selected examples)

Shared IT platform

Core Banking services, internet & mobile solutions

Mandatory transfer of clients when AUM hits threshold

- Cross referrals Entrepreneurs and executives from Corporate Banking to Private Banking
- Up/Downstreaming Retail Banking business clients to and from Corporate Banking
Note(s):
1. FY2015 figures Investment research, hedging products Investment research, hedging products
2. Retail Banking includes some international
activities through MoneYou
3. Energy, Commodities and Transportation Daily banking services and mortgages
Clients

3
Strategic priorities are reflected in tangible initiatives

Strongly commit to moderate risk profile

Enhance client centricity  Strong and clean balance sheet

 Proactive stance in meeting regulatory requirements
 Further embedding Net Promotor Score
 Maintaining stringent underwriting criteria
 Range of initiatives to increase customer intimacy, e.g.
extensive use of remote advice in Retail Banking  Continuous review of portfolio of activities

 Transfer of retail clients with > EUR 500k client assets

to Private Banking in the Netherlands, to better serve
Pursue selective international growth
client needs
 Customer Excellence over the chain  Controlled expansion of ECT Clients and asset
based finance, building on positions of strength
 In Private Banking non-organic growth only in
existing countries
Invest in our future

 Undertaking material investments to position the bank

Improve profitability
for the future:
 Complying with regulatory demands  Major initiatives are underway to drive further
 Re-engineering IT landscape improvements:
 Digitalisation in all client segments  TOPS2020
 Attracting and retaining talent  Digitalisation in Retail Banking
 Sustainability initiatives  Ongoing pricing discipline, incorporating increased
regulatory and capital costs

4
Financial targets

CET1 Ratio Cost/Income Ratio

11.5 – 13.5% 56 – 60%

(fully loaded) (2017)

Return on Equity Dividend Pay-Out1

10 – 13% 50%
(in the coming years) (as from and over 2017)

Note(s):
1. Management discretion and subject to regulatory requirements. The envisaged dividend-pay-out ratio is based on the annual reported net profit after deduction of coupon payments on capital instruments that are treated as
equity instruments for accounting purposes

5
Leading Dutch bank with a transparent and client driven business model

1 Domestic franchise leadership in Retail, Private and Corporate Banking

Moderate risk profile based on strong capitalisation and a clean

2 balance sheet

Favourable exposure to the Dutch economy, characterised by

3 strong fundamentals and a cyclical upturn

Geographical diversification and growth opportunities through

4 capability-led international activities

Delivering attractive returns for shareholders, with identified levers

5 for further efficiency improvements

Pay-out capacity underpinned by strong capital generation and

6 discipline

7 Highly experienced management team with proven track record

6
 1 Domestic leadership in Retail, Private and Corporate Banking

Retail Banking 20-25% market share key products… …no. 1 positions in Private and Corporate Banking
Products Rank Segment Rank

Private Banking 4
New mortgage production 1 1 1

Primary bank relationships –

Savings 2
2 1
Mid-sized corporates 5

Primary bank relationships – 1

Consumer credit cards 3 1
Large corporates 6

Note(s):
1. 20% in new mortgage production in 2015; source: Dutch land register, Hypotheken Scan January – December 2015
2. C. 21% market share in savings including Private Banking in the Netherlands (31 December 2015); source: calculated on the basis of information from DNB Domestic MFI-statistics, table 5.2.6, December 2015, and company
research. Market position H1 2015 calculated on the basis of information from DNB Domestic MFI-statistics, table 5.2.6, June 2015, quarterly/annual reports of competitors, and company research
3. Based on number of credit cards, calculated on the basis of information from DNB Payment statistics Retail payments, table t5.12, December 2015 and company research
4. Ranking NL based on 2012 data, as 2014 and 2013 data on client assets were not available for a number of banks
5. EUR 20 – 250 m revenues ; source: TNS NIPO industry standard survey asking clients to identify their ‘primary bank’ relationships
6. > EUR 250 m revenues; source: Greenwich industry standard survey asking clients to identify their ‘primary bank’ relationships

7
 2 Moderate risk profile: strong capitalisation and clean balance sheet

Moderate risk profile embedded in the organisation Strong capitalisation and asset quality

 Strong risk consciousness YE2015

 Clear risk governance and strong risk culture
 Strategy and targets in line with moderate risk profile CET1 (fully-loaded) 15.5%
 Prudently provisioned as confirmed by outcome of ECB's AQR
with a minor impact of 12 bps on its CET1 capital ratio at 31 Impaired ratio 1 2.5%
December 2013
 Sound capital and liquidity management Coverage ratio 1 55.8%
 CET1 capital position well above target range
 Diversified funding sources, limited short term funding Overview loan book, ECT exposures less than 10%
 Clean and strong balance sheet Banks, ex Other, 6% Corporates ex- Transportation
ECT Clients ECT clients Clients, 4%
 Sound loan book 5% 20%
 Exposures within sector limits and risk appetite Consumer Energy
 Limited trading & investment banking loans, 5% Total L&R Clients
ECT Clients L&R 2%
EUR 275bn
9% EUR 25bn
 Collateralised loan book YE2015

 Largely collateralised loan book

Commodities
 Corporate loans diversified by sector Mortgages
Clients, 4%
53%

Note(s):
1. Impaired ratio and coverage ratio on total loans and receivables

8
Chain analysis on exposure to oil price risk for ECT Clients

Management estimates on exposure oil price sensitivity1

 Market circumstances are challenging for some of the clients in Oil & Gas sectors. Close risk monitoring is applied
 With a scenario of low oil prices1 we would expect impairments on Energy Clients to rise to approximately EUR 75-125m
over the next 18 months
 We consider this increase to be manageable in view of the size of our Energy Clients portfolio

Energy Commodities Transportation

EUR bn ECT Clients on balance exposure
2015, end of period, EUR bn ECT Clients 30
Clients Clients Clients
# Clients Groups ~600 ► ~100 ~325 ~175 25
On balance exposure 25.1 ► 4.7 11.1 9.3
Off B/S Issued LCs + Guarantees 6.3 ► 0.7 5.5 0.2 20
USD
Sub total 31.4 ► 5.3 16.5 9.5 EUR
15
Off B/S Undrawn committed 6.7 ► 2.3 2.4 1.9
Total 38.0 ► 7.6 19.0 11.4 10
2013 2014 2015

ECT Client segment Activity / Business Line % of ECT Clients Estimated Sensitivity

40% (EUR 12-13bn) is Commodities - Energy Trade Finance Limited exposure to oil
~30%
Oil & Gas related price risk
FPSO, Midstream, Corporate Lending
Indirect exposure to oil
exposures Energy Clients EUR 5.3bn Offshore Drilling & Other Offshore Companies ~6%
price risk
Upstream (Reserve Base Lending) ~4% Exposure to oil price risk

Note(s):
1. Two oil price scenarios were used, with $20 or $30 oil price for the first 6 months, followed by 12 months with an oil price of $30

9
 3 Favourable exposure to the Dutch economy, characterised by strong
fundamentals and a cyclical upturn

The Dutch economy has strong fundamentals … …and is entering a period of economic growth…
 International orientation (as % GDP) 2015E Real GDP growth (%)
1.9% 1.7% 1.9%
 Highly competitive 1.0% 1.5% 1.2%
1.6%
Current account 9.6 0.9%
 Globally ranked no. 5 by WEF
 Sound financials Pension fund assets 159.3 -0.2%
-0.7% -0.5%
-1.1%
 Large, persistent external surplus
Budget deficit (2.0)
 Major recent reforms (pensions,
2012 2013 2014 2015 2016E 2017E
labour market, health care,
Government debt 66.7 Netherlands Eurozone
housing market)
Source: CBS, ABN AMRO Group Economics estimates, OECD as of December 2014 for pension fund assets Source: CBS, Eurostat, ABN AMRO Group Economics estimates 17 February 2016

…with the housing market strongly improving… …as reflected in the provisioning trends
115 220 ABN AMRO 4Q rolling cost of risk (bps)

105 190 75

95 160 50

85 130 25

75 100 0
01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
House prices (index; lhs) Transactions (12-m total x1000; rhs) 2013 2014 2015
Source: CBS, January 2016

10
 Geographical diversification and growth opportunities through capability-led
4 international activities

Private Banking International ECT Clients

 ABN AMRO is active in
selected areas
internationally
 Leading market positions:
̶ Provides an avenue for
profitable growth ̶ Germany: No. 3
 Globally recognised bank for Energy,
̶ Allows for geographical ̶ France: No. 4
Commodities and Transportation Clients
diversification  Presence in Asia with strong brand name
 Steady expansion realised, whilst
 Growth in international  Client assets in Europe excl. The keeping impairments low
activities is subject to clearly Netherlands is c. EUR 87bn, outside of
 EUR 25bn on-balance loan book
defined criteria Europe is c. EUR 17bn
̶ Client driven
Asset Based Finance MoneYou
̶ Capability-led
̶ In line with moderate
risk profile
̶ Profitability  ABF encompasses ABN AMRO Lease  Internet based savings proposition to
 Ambition to generate c. 20- and Commercial Finance (factoring) acquire retail saving deposits in the
25% of operating income Netherlands as well as Germany, Belgium
 Leading market positions in the and Austria
outside the Netherlands by Netherlands. Existing presence in
2017 Western Europe, with strategy to further  Savings volume MoneYou c. EUR 19bn
expand (28% in the Netherlands, 72% in remaining
countries)
 EUR 5.6bn total loan book

Note(s): All data as of YE2015, market positions in Private Banking Germany and France as of 2014

11
 Delivering attractive returns for shareholders, with identified levers for further
5 efficiency improvements

 Generating attractive ROE levels, with 2015 ROE at 12.0% Return on Equity development
 Additionally major initiatives are underway to drive further
efficiency improvements: 18%
4Q rolling average ROE
 TOPS2020: Comprehensive programme to transform the
Group-wide IT platform
12% 10-13%
10-13%ROE
ROEtarget
targetrange
range
 Digitalisation in Retail Banking: Accelerate
digitalisation of key client processes, further
concentration of branch network 6%
 These cost savings programmes should mitigate the impact
of increasing regulatory levies and costs
 Next to cost savings, these projects bring important 0%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
additional process and client benefits, e.g. more agile IT,
improved customer experience 2013 2014 2015

TOPS2020 and Retail Digitalisation1… … expected to drive C/I ratio further down
EUR m
In 2018-2020 expect lower investments and further 80%
Investments 4Q rolling average C/I ratio
increase in savings related to efficiency initiatives
Recurrent savings 266
(further trending down of C/I ratio)

182 195
159 150 65%
138
101
56-60% C/I target range 2017
59
25
50%
2013 2014 2015 2016 2017 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Note(s):
1. Investments and cost savings are shown pre-tax 2013 2014 2015

12
Impact of NIRP depends on behaviour of clients and competitors

Hedging the balance sheet against interest rate movements helps to stabilise NII
 Conceptually, interest rate risk is managed by swapping both assets and liabilities to floating rate. In practice what we do is;
- Wholesale funding as well as bonds in the liquidity buffer are swapped to a floating rate on an individual basis
- Mortgages, consumer loans, commercial loans and deposits are managed on a portfolio basis, where only the net interest
exposure is hedged with swap contracts

 As a result, interest income is predominantly driven by the commercial margins and volume developments
 As of YE2015, a 200bp decline / rise in interest rates over 12 month period leads to <2% decrease / increase of NII

Balance sheet item Impact of lower interest rates on NII

Mortgages  Margins are locked-in for long period due to portfolio predominantly made up of longer dated fixed mortgages
 Competitive pressure could intensify from insurance companies and pension funds looking for long dated assets
in low interest environment, leading to lower commercial margins on new production

Commercial loans  Limited impact on margins, though a large barrier exists to pay a client for lending money

Deposits  Still room to move lower for retail clients with main savings rate at around 60bp, but entering uncharted territory
and client behaviour will become very hard to predict
 Ultimately NII will be impacted if retail deposits are kept positive in a strongly negative rate environment
 Some professional counterparties and large private banking clients are already charged for their deposits
Wholesale funding  Interest rate risk is hedged, so costs are purely driven by credit spread of ABN AMRO

Liquidity buffer  Interest rate risk is hedged, so yield is also purely driven by credit spreads
 Looking to further optimise the cash held at central banks

13
6 Pay-out capacity underpinned by strong capital generation and discipline

Strong capital generation Strong ROE track record

 High dividend capacity underpinned by: ROE (%)

- Strong ROE track record

- Moderate balance sheet growth 8.9% 10.9% 12.0%
7.8% 8.2% 5.5%
2010 2011 2012 2013 2014 2015
 2018E Leverage Ratio requirement of ≥4.0% to be achieved
by profit retention, issuance of AT1 instruments, manage
balance sheet and product offering Steady improvement in capital strength
CET1 (fully loaded)
 CET1 (fully loaded) of 15.5% at YE2015 well above 10.25%
supervisory requirement for 2016, including:
14.1% 15.5%
- 9.5% SREP requirement (including capital conservation 8.6% 8.4% 10.0% 12.2%
buffer)
- 0.75% phase-in DNB systemic risk buffer (growing to 3% in 2010 2011 2012 2013 2014 2015
2019)
Steadily increasing dividend
 Capital position to be re-assessed once implementation Basel Dividend pay-out ratio
Target dividend payout
IV is clear. If based on that assessment the Group considers (as from and over 2017)2
that it has excess capital it will return this to shareholders and
DR holders 1 50%
45%
40%
35%
26% 30%

Note(s): 2012 2013 2014 2015 2016 ≥2017

1. Subject to authorisation by the ECB where required
2. At Management discretion

14
7 Highly experienced management team with proven track record

Successfully established the "new" ABN AMRO

 Successfully completed highly complex  Strong risk management embedded in  Launch of TOPS2020
separation and integration process the organisation – confirmed by AQR
 Client centric culture established  Optimised the business portfolio  At the forefront of digitalisation

CET1 (fully loaded) ROE Cost/Income

Retail branches
Reduction
70% 2009-2015
15.5% c. 380
12.0% 62% 260 branches
8.6% 8.9%

2010 2015 2010 2015 2010 2015

Loan to deposits Operating income (EUR m) Operating expenses (EUR m)

8,455 FTEs
8,455 Reduction
7,659 7,659
135% 22,048 2009-2015
c. 7,500
FTEs
109% 5,335 5,228

2010 2015 2010 2015 2010 2015

15
Leading Dutch bank with a transparent and client driven business model

1 Domestic franchise leadership in Retail, Private and Corporate Banking

Moderate risk profile based on strong capitalisation and a clean

2 balance sheet

Favourable exposure to the Dutch economy, characterised by

3 strong fundamentals and a cyclical upturn

Geographical diversification and growth opportunities through

4 capability-led international activities

Delivering attractive returns for shareholders, with identified levers

5 for further efficiency improvements

Pay-out capacity underpinned by strong capital generation and

6 discipline

7 Highly experienced management team with proven track record

16
annex
Full year and Q4 2015 highlights

FY highlights Q4 highlights
 EUR 1,924m underlying net profit, up 24%;  Underlying net profit EUR 272m, down 32%
EPS EUR 2.03 vs. EUR 1.65 for 2014 vs. Q4 2014
 Income up 5%, higher fees in PB and CB and  Income 4% lower, primarily due to negative
positive impact CVA/DVA/FVA incidentals in Q4 2015
 Expenses up 8% primarily caused by higher  Expenses up 9% primarily caused by EUR
regulatory levies*, project and pension costs 129m higher regulatory levies*
 Impairments 57% lower, in all segments  Improvement in Dutch economy and housing
market reflected in low impairments, down
 Realisation of targets remains on track: 31% compared to Q4 2014
Cost/income at 61.8%, ROE at 12.0%, fully-
loaded CET1 at 15.5%
 Final dividend of EUR 0.44 per share
proposed, total dividend of EUR 0.81 per
share or 40% dividend pay-out ratio

* Bank tax, National Resolution Funds (NRF), (European) Deposit Guarantee Scheme (DGS) in total EUR 220m (pre-tax) in Q4 2015

18
Results

FY results strong, Q4 impacted by higher regulatory levies and negative provisions

EUR m 2015 2014 Delta Q4 2015 Q4 2014 Delta
Net interest income 6,076 6,023 1% 1,497 1,620 -8%
Net fee and commission income 1,829 1,691 8% 454 431 5%
Other operating income 550 341 61% 101 95 7%
Operating income 8,455 8,055 5% 2,052 2,145 -4%
Operating expenses 5,228 4,849 8% 1,528 1,397 9%
Operating result 3,227 3,206 1% 524 748 -30%
Impairment charges 505 1,171 -57% 124 181 -31%
Income tax expenses 798 484 65% 128 167 -24%
Underlying profit for the period 1,924 1,551 24% 272 400 -32%
Special items and divestments -417
Reported profit for the period 1,924 1,134 70% 272 400 -32%

Underlying return on avg. equity (%) 12.0% 10.9% 6.3% 10.9%

Underlying cost/income ratio (%) 61.8% 60.2% 74.5% 65.1%
Net interest margin (bps) 146 153 147 163
Underlying cost of risk (bps) 19 45 19 27

Earnings per share1 (EUR) 2.03 1.65 0.27 0.43

Dividend per share2 (EUR) 0.81 0.43

Note(s):
1. Earnings consist of underlying net profit excluding reserved payments for AT 1 Capital securities and results attributable to non-controlling interests
2. Dividend is based on reported net profit excluding net reserved coupons for AT1 capital securities and results attributable to non-controlling interests.

19
Interest income

Interest income levels remained strong

NII, EUR m NIM, in bps NII, EUR m
1,900 175 1,400
Net Interest Income (lhs) Retail Banking Private Banking
Corporate Banking Group Functions
NIM (4Q rolling average, rhs)
CAGR 2%
1,600 150 900
CAGR 7%

1,300 125 400 CAGR 7%

1,000 100 -100

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2013 2014 2015 2013 2014 2015

 In 2015 NII remained more or less around EUR 1.5bn each quarter
 Q4 NII 8% lower compared with Q4 2014, driven by a positive incidental last year and a provision for Euribor
mortgages and higher liquidity buffer costs in Q4 2015
 Mortgage and corporate loan margins improved, mortgage and consumer loan volumes decreased

20
Net Fee and Other operating income

Fee income increases over time Volatile CVA, DVA and FVA effects
EUR m EUR m
600 70
Net fee and commission income FVA CVA/DVA
Other operating income
35
400

200
-35

0 -70
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2013 2014 2015 2013 2014 2015

 Fee income up for both full year and Q4, driven by all business segments
 Other operating income increased, primarily due to better CVA/DVA/FVA results, higher equity participations
contribution and more favourable hedge accounting results. Partly offset by an additional provision for identified
SMEs with possible interest derivative related issues

21
Expenses

Personnel expenses Other expenses

EUR m EUR m
Pension expenses 1 Regulatory levies 2
2013 258 2013 106
900 2014 287 900 2014 91
2015 324 2015 220

600 600

Other expenses
Personnel expenses
Other excl. regulatory levies
300 300
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2013 2014 2015 2013 2014 2015

 Expenses up 8% in 2015 mainly due to EUR 129m increase in regulatory levies and higher project and pension
costs
 Other expenses typically peak in Q4 due to regulatory levies2

Note(s):
1. As of 2015 the annual Dutch pension contribution is maximised at 35% of the Dutch pensionable salary, plus a fixed amount of EUR 25 m. Actual amount to be paid every year depends on interest rate developments
2. Dutch bank tax for 2012, 2013 and 2014, 2015 includes the Dutch bank tax, National Resolution Funds (NRF) and (European) Deposit Guarantee Scheme (DGS)

22
Loan impairments

Loan impairments continue to trend downwards

bps EUR m
4Q rolling cost of risk Loan impairments by product
750
75
Corporate loans Consumer loans Mortgages

50 500

25 250

Estimated through-the-cycle
average c. 25-30 bps
0 0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2013 2014 2015 2013 2014 2015

 Downward trend of underlying cost of risk started in 2014 and continued in 2015 in line with the improvements in
the Dutch economy and housing market
 Cost of Risk declined to 19bps for both Q4 2015 and FY2015
 Lower impairments also benefitted from large IBNI releases of EUR 221m in 2015; whereas 2014 included IBNI
charges of EUR 22m
 Impairments came down for all products in FY2015

23
Segment results

Results improved in all businesses

EUR m EUR m 4Q rolling average impairments
1,500
FY2014 FY2015 Corporate Banking Retail Banking Private Banking

900
1,000

1,226
500 1,079
596 400
160 214 298 14
0
-112

-500 -100
Retail Private Corporate Group Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Banking Banking Banking Functions
2013 2014 2015

 Retail Banking results supported by 79% lower impairments

 Private Banking improvement driven by higher client assets and lower impairments
 Improved performance at Corporate Banking driven by lower impairments in Commercial Clients, increased client
activity and better CVA/DVA/FVA results

24
Breakdown of ECT Clients portfolio per sector

ECT Clients part of on-balance L&R Management of ECT Clients

 At YE2015, ECT Clients on balance outstandings are 9% of  Manages on-balance EUR 25.1bn and EUR 6.3bn off-
ABN AMRO’s total loans and receivables to customers & balance totalling EUR 31.4bn exposure
banks  Allocates clients to ECT (sub-) segments for managerial
purposes1
 Energy Clients and Commodities Energy Clients may be
Other, 6% Corporates ex-
directly or indirectly exposed to oil price developments
Banks, ex Transportation
ECT Clients ECT clients Clients, 4% On balance L&R and issued LCs & Guarantees1
5% 20%
Consumer Energy Transportation
loans, 5% Total L&R Clients Energy Exposure
ECT Clients L&R 2% to oil price
EUR 275bn 9% EUR 25bn
YE2015 Commodities - EUR 31.4bn Commodities - development
Metals Energy (see slide 9)

Commodities -
Mortgages Commodities Agri
53% Clients, 4%

2015, end of period ECT Clients Energy Clients Commodities Clients Transportation Clients
# Clients Groups ~600 ► ~100 ~325 ~175
On balance exposure (EUR bn) 25.1 ► 4.7 11.1 9.3
Off B/S Issued LCs + Guarantees (EUR bn) 6.3 ► 0.7 5.5 0.2
Sub total 31.4 ► 5.3 16.5 9.5
Off B/S Undrawn committed (EUR bn) 6.7 ► 2.3 2.4 1.9
Total 38.0 ► 7.6 19.0 11.4

Note(s):
1. The allocation of ECT Clients into sub-segments has been based on management views for managerial purposes. Clients can have activities that could be mapped in other sectors.

25
Important notice

For the purposes of this disclaimer ABN AMRO Group N.V. and its consolidated subsidiaries are referred to as "ABN AMRO“. This document (the “Presentation”) has been prepared
by ABN AMRO. For purposes of this notice, the Presentation shall include any document that follows and relates to any oral briefings by ABN AMRO and any question-and-answer
session that follows such briefings. The Presentation is informative in nature and is solely intended to provide financial and general information about ABN AMRO following the
publication of its most recent financial figures. This Presentation has been prepared with care and must be read in connection with the relevant Financial Documents (latest
Quarterly Report and Annual Financial Statements, "Financial Documents"). In case of any difference between the Financial Documents and this Presentation the Financial
Documents are leading. The Presentation does not constitute an offer of securities or a solicitation to make such an offer, and may not be used for such purposes, in any jurisdiction
(including the member states of the European Union and the United States) nor does it constitute investment advice or an investment recommendation in respect of any financial
instrument. Any securities referred to in the Presentation have not been and will not be registered under the US Securities Act of 1933. The information in the Presentation is, unless
expressly stated otherwise, not intended for residents of the United States or any "U.S. person" (as defined in Regulation S of the US Securities Act 1933). No reliance may be
placed on the information contained in the Presentation. No representation or warranty, express or implied, is given by or on behalf of ABN AMRO, or any of its directors or
employees as to the accuracy or completeness of the information contained in the Presentation. ABN AMRO accepts no liability for any loss arising, directly or indirectly, from the
use of such information. Nothing contained herein shall form the basis of any commitment whatsoever. ABN AMRO has included in this Presentation, and from time to time may
make certain statements in its public statements that may constitute “forward-looking statements”. This includes, without limitation, such statements that include the words ‘expect’,
‘estimate’, ‘project’, ‘anticipate’, ‘should’, ‘intend’, ‘plan’, ‘probability’, ‘risk’, ‘Value-at-Risk (“VaR”)’, ‘target’, ‘goal’, ‘objective’, ‘will’, ‘endeavour’, ‘outlook’, 'optimistic', 'prospects' and
similar expressions or variations on such expressions. In particular, the Presentation may include forward-looking statements relating but not limited to ABN AMRO’s potential
exposures to various types of operational, credit and market risk. Such statements are subject to uncertainties. Forward-looking statements are not historical facts and represent
only ABN AMRO's current views and assumptions on future events, many of which, by their nature, are inherently uncertain and beyond our control. Factors that could cause actual
results to differ materially from those anticipated by forward-looking statements include, but are not limited to, (macro)-economic, demographic and political conditions and risks,
actions taken and policies applied by governments and their agencies, financial regulators and private organisations (including credit rating agencies), market conditions and
turbulence in financial and other markets, and the success of ABN AMRO in managing the risks involved in the foregoing. Any forward-looking statements made by ABN AMRO are
current views as at the date they are made. Subject to statutory obligations, ABN AMRO does not intend to publicly update or revise forward-looking statements to reflect events or
circumstances after the date the statements were made, and ABN AMRO assumes no obligation to do so.

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Gustav Mahlerlaan 10
1082 PP Amsterdam
The Netherlands

Website
www.abnamro.com/ir

Questions
[email protected]

20160316 Investor Relations – Morgan Stanley conference investor presentation

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