Company: INGVF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-196042
Chunk: 162

Company: ING GROEP NV
Filing Date: 2025-09-04
Form: 424B5
Chunk 162
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 solely in the ordinary course of business and not for the purpose of facilitating the distribution of the Securities. In addition, the Issuer’s affiliates may, under certain circumstances, participate in the offering
of the Securities.

S-118

VALIDITY OF SECURITIES

Sullivan & Cromwell LLP, United States counsel to the Issuer, will pass upon the validity of the Securities under New York law.
Linklaters LLP, Amsterdam, The Netherlands, Dutch counsel to the Issuer, will pass on the validity of the Securities under Dutch law. Davis Polk & Wardwell London LLP, United States counsel for the underwriters, will pass upon certain
matters of New York law for the underwriters.

S-119

EXPERTS

The consolidated financial statements of ING Groep N.V. as of December 31, 2024 and 2023 and for each of the years in the three-year
period ended December 31, 2024, and management’s assessment of the effectiveness of the internal control over financial reporting as of December 31, 2024, all appearing in ING Groep N.V.’s Annual Report on Form 20-F for the year ended December 31, 2024 have been incorporated by reference herein and in the registration statement in reliance upon the reports of KPMG Accountants N.V., independent registered public
accounting firm, incorporated by reference herein, and upon the authority of said firm as experts in accounting and auditing.

S-120

INDEX OF DEFINED TERMS

| $                                      |     |                11 |
| €                                      |     |                11 |
| 2024 Form 20-F                         |     |                10 |
| First Reset Date                       |     |         i, 14, 59 |
| Reset Dates                            |     |             i, 59 |
| Reset Period                           |     |                59 |
| Additional Amounts                     |     |            17, 73 |
| Additional Tier 1 Capital              |     |                73 |
| Adjustable Extraordinary Dividend      |     |                96 |
| Adjustment Spread                      |     |                63 |
| ADS Depositary                         |     |             22,84 |
| ADSs                                   |     |             22,82 |
| AFM                                    |     |                44 |
| Alignment Event                        |     |                77 |
| Alternative Rate                       |     |                63 |
| American Depositary Receipts           |