Company: INGVF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-196042
Chunk: 87

Company: ING GROEP NV
Filing Date: 2025-09-04
Form: 424B5
Chunk 87
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 Issuer determines that as a result of a Tax Law Change which was not reasonably foreseeable on the Issue Date:

| (a) | the Issuer will or would be required on the next Interest Payment Date (or if the next Interest Payment Date is                                                  
 scheduled to occur within 30 days, then on the Interest Payment Date immediately following the next Interest Payment Date) to pay holders Additional Amounts; or |

S-68

| (b) | the Issuer would not be entitled to claim a deduction in respect of any interest payments made on the next                                                                                                                                                
 Interest Payment Date (or if the next Interest Payment Date is scheduled to occur within 30 days, then on the Interest Payment Date immediately following the next Interest Payment Date) in computing the Issuer’s taxation liabilities in The           
 Netherlands, or the amount of the deduction would be materially reduced, save to the extent that such Tax Law Change merely codifies, rules or otherwise confirms that the interest payment would not be or was not deductible based on applicable law as 
 at the Issue Date;                                                                                                                                                                                                                                        |

provided, in each case,that the consequences of such event cannot be avoided by the Issuer taking reasonable measures available to it. Prior to giving notice of a redemption due to a Tax Event, the Issuer shall be required to deliver to the trustee an opinion from a recognized law or tax firm of international standing chosen by the Issuer, in a form satisfactory to the trustee confirming the occurrence of such Tax Event. A “ Tax Law Change” means a change in, or amendment to, the laws or regulations of The Netherlands or any political subdivision or authority therein or thereof having the power to tax, including any treaty to which The Netherlands is a party, or any change in the application of official or generally published interpretation of such laws or regulations, including a decision of any court or tribunal, or any interpretation or pronouncement by any relevant tax authority, which change or amendment (including, for the avoidance of doubt, a decision of any court or tribunal) becomes, or would become, effective on or after the Issue Date. Notice of Redemption The Issuer shall give notice of any redemption of the Securities, including a redemption as a result of a Regulatory Event or Tax Event, not less than 15 days or more than 30 days prior to the redemption date to the holders of the Securities and to the trustee at least five business days prior to such date, unless a shorter notice period shall be satisfactory to the trustee. The redemption notice shall state: (1) the redemption date