Company: INGVF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-196042
Chunk: 112

Company: ING GROEP NV
Filing Date: 2025-09-04
Form: 424B5
Chunk 112
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 such modification, the Floor Price shall be adjusted by multiplying the Floor Price in force immediately prior to the Effective Date by the following fraction:         |

A + B A + C where:

| A | is the number of ordinary shares in issue immediately before such modification (but where the relevant                                                                                                                                              
 securities carry rights of conversion into or rights of exchange or subscription for, or purchase or acquisition of, ordinary shares which have been issued, purchased or acquired by the Issuer or any member of the Group (or at the direction or 
 request or pursuant to any arrangements with the Issuer or any member of the Group) for the purposes of or in connection with such securities, less the number of such ordinary shares so issued, purchased or acquired);                           |

| B | is the number of ordinary shares which the aggregate consideration (if any) receivable for the ordinary shares                                                                                                                                           
 to be issued or otherwise made available upon conversion or exchange or upon exercise of the right of subscription, purchase or acquisition attached to the securities so modified would purchase at such Current Market Price per ordinary share or, if 
 lower, the existing conversion, exchange, subscription, purchase or acquisition price or rate of such securities; and                                                                                                                                    |

| C | is the maximum number of ordinary shares which may be issued or otherwise made available upon conversion or 
 exchange of such securities or upon the exercise of such rights of                                          |

S-85

| subscription, purchase or acquisition attached thereto at the modified conversion, exchange, subscription, purchase or acquisition price or rate but giving credit in such manner as an Independent 
 Conversion Adviser in good faith shall consider appropriate for any previous adjustment under this paragraph (viii) or paragraph (vii) above;                                                       |

provided thatif on the Effective Date such number of ordinary shares is to be determined by reference to the application of a formula or other variable feature or the occurrence of any event at some subsequent time (which may be when such securities are converted or exchanged or rights of subscription, purchase or acquisition are exercised or at such other time as may be provided) then for the purposes of this paragraph (viii), “C” shall be determined by the application of such formula or variable feature or as if the relevant event occurs or had occurred as at the Effective Date and as if such conversion, exchange, subscription, purchase or acquisition had taken place on the Effective Date. Such adjustment shall become effective on the Effective Date. “ Effective Date” means, for purposes of this paragraph (viii), the date of modification of the rights of conversion