Company: INGVF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-196042
Chunk: 141

Company: ING GROEP NV
Filing Date: 2025-09-04
Form: 424B5
Chunk 141
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 Aruba, Curacao or
Sint-Maarten and that have an enterprise, which is carried on through a permanent establishment or a permanent representative on Bonaire, Sint Eustatius, or Saba and the Securities are attributable to such permanent establishment or permanent
representative.

Where this summary refers to The Netherlands, such reference is restricted to the part of the Kingdom of The Netherlands
that is situated in Europe and the legislation applicable in that part of the Kingdom.

For the purpose of this summary, the term
“entity” means a corporation as well as any other person that is taxable as a corporation for Dutch corporate income tax purposes.

S-102

Material Tax Consequences of Owning Securities

Withholding Tax

Generally, all payments made by ING Groep N.V. of interest and principal under the Securities can be made free of withholding or deduction of
any taxes of whatever nature levied, withheld or assessed by The Netherlands or any political subdivision or taxing authority thereof or therein, provided that the Securities are considered debt for Dutch civil law purposes and are not considered
equity of ING Groep N.V. within the meaning of either Article 10, paragraph 1, under c, CITA or Article 10, paragraph 1, under d, CITA. Based on case law and statements by the State Secretary of Finance with respect to the tax treatment of
Additional Tier 1 securities, it is expected that the Securities will be treated as debt for Dutch tax purposes and will not be treated as equity within the meaning of either Article 10, paragraph 1, under c, CITA or Article 10, paragraph 1, under
d, CITA. However, this position is not without uncertainty. See the risk factor “—Deductions of interest payments and withholding tax” above.

However, Dutch withholding tax may apply on certain (deemed) interest due and payable to an affiliated (gelieerde) entity of ING Groep
N.V. if such entity (i) is considered to be resident (gevestigd) in a jurisdiction that is listed in the yearly updated Dutch Regulation on low-taxing states and
non-cooperative jurisdictions for tax purposes (Regeling laagbelastende staten en niet-coöperatieverechtsgebieden voor belastingdoeleinden), (ii) has a
permanent establishment located in such jurisdiction to which the interest is attributable, (iii) is entitled to the interest payable for the main