Company: INGVF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-196042
Chunk: 213

Company: ING GROEP NV
Filing Date: 2025-09-04
Form: 424B5
Chunk 213
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 of set-off, compensation or retention in respect of any
amount owed to it by us in respect of, or arising under, or in connection with, our debt securities, the senior debt indenture or the subordinated debt indenture, and each holder and beneficial owner of our debt securities, by virtue of its holding
of any such debt securities or any interest therein, and the trustee acting on behalf of the holders and beneficial owners of our debt securities, shall be deemed to have waived all such rights of set-off,
compensation or retention (and, if provided in the applicable supplemental indenture and related prospectus supplement, all such rights of netting). If, notwithstanding the above, any amounts due and payable to any holder or beneficial owner of a
debt security or any interest therein by us in respect of, or arising under, the debt securities, the senior debt indenture or the subordinated debt indenture, are discharged by set-off (or, if provided in the
applicable supplemental indenture and related prospectus supplement, by netting), such holder or beneficial owner shall, subject to applicable law, immediately pay an amount equal to the amount of such discharge to us (or, in the event of our
liquidation (upon dissolution (ontbinding) or otherwise) or a moratorium of payments (surseance van betaling), or if we are declared bankrupt (failliet verklaard), our liquidator or administrator, as the case may be) and, until
such time as payment is made, shall hold an amount equal to such amount in trust (where possible) or otherwise for us (or our liquidator or administrator, as the case may be) and, accordingly, any such discharge shall be deemed not to have taken
place. By its acquisition of our debt securities, each holder and beneficial owner agrees to be bound by these provisions relating to waiver of set-off (and, if provided in the applicable supplemental
indenture and related prospectus supplement, relating to waiver netting). No holder of our debt securities shall be entitled to proceed directly against us except as described in “— Limitation on Suits” below.

Trustee’s Duties

In case of a default under any series of our debt securities, the trustee shall exercise such of the rights and powers vested in it by the
senior debt indenture or subordinated debt indenture, as applicable, and use the same degree of care and skill in their exercise, as a prudent person would exercise or use under the