Company: INGVF
Filing Date: 2025-03-20
Form Type: 424B5
Source: 0001193125-25-058308
Chunk: 41

Company: ING GROEP NV
Filing Date: 2025-03-20
Form: 424B5
Chunk 41
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 Securities — Events of Default and Remedies — Limitation on Suits” in the accompanying prospectus. Irrespective of any other set-off,netting, compensation or retention agreement providing otherwise, the possibility of any set-off,netting, compensation or retention by a holder or beneficial owner of the notes shall be exclusively governed by Dutch law. S-33

Agreement and Acknowledgement with Respect to the Exercise of Dutch Bail-inPower With a view to Article 55 of the Directive 2014/59/EU of the European Parliament and of the Council (the “ Bank Recovery and Resolution Directive” or “ BRRD”), the Issuer has included the following two paragraphs in the terms of the notes:

| (1) | Notwithstanding any other agreements, arrangements or understandings between the Issuer and any holder or                                                                                                                                                                                                                                                                                                           
 beneficial owner of the notes, by acquiring the notes, each holder and beneficial owner of the notes or any interest therein acknowledges, accepts, recognizes, agrees to be bound by, and consents to the exercise of, any Dutch Bail-in Power by the relevant resolution authority that may result in the reduction (including to zero), cancellation or write-down (whether on a permanent basis or subject to a 
 write-up by the resolution authority) of all, or a portion, of the principal amount of, or interest on, the notes and/or the conversion of all, or a portion, of the principal amount of, or interest on, the                                                                                                                                                                                                       
 notes into shares or claims which may give right to shares or other instruments of ownership or other securities or other obligations of the Issuer or obligations of another person, including by means of a variation to the terms of the notes (which                                                                                                                                                            
 may include amending the interest amount or the maturity or interest payment dates, including by suspending payment for a temporary period), or that the notes must otherwise be applied to absorb losses, or any expropriation of the notes, in each                                                                                                                                                               
 case, to give effect to the exercise by the relevant resolution authority of such Dutch Bail-in Power. Each holder and beneficial owner of a note or any interest therein further acknowledges and agrees that                                                                                                                                                                                                      
 the rights of holders and beneficial owners of a note or any interest therein are subject to, and will be varied, if necessary, so as to give effect to, the exercise of any Dutch Bail-in Power by the relevant                                                                                                                                                                                                    
 resolution authority. In addition, by acquiring any notes, each holder and beneficial owner of a note or any interest therein further