Company: INGVF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-196042
Chunk: 53

Company: ING GROEP NV
Filing Date: 2025-09-04
Form: 424B5
Chunk 53
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 applied to payments of principal. In such circumstances, holders of the Securities may receive less than the full amount of principal due in respect of the Securities,
and the market value of the Securities may be adversely affected. See “Description of the Securities — Payment of Additional Amounts.”

The Securities do not contain events of default and there are limited remedies in the case of non-paymentunder the Securities.

The terms of the Securities do not provide for any
events of default. The trustee and holders of the Securities shall not be entitled to declare the principal amount of the Securities due and payable under any circumstance,provided that upon the occurrence of a Liquidation Event,
holders of the Securities shall have the rights and claims described under “Description of the Securities — Ranking.” Your remedies for the Issuer’s breach of any obligations under the Securities are extremely limited, as
described under “Description of the Securities — Enforcement Events and Remedies.”

As described under
“Description of the Securities — Interest Cancellation,” the Issuer may in its absolute discretion cancel any interest payment, in whole or in part, on any Interest Payment Date or redemption date and the Issuer’s failure to
make any payment of interest on an Interest Payment Date or redemption date, in whole or in part, shall be deemed to cancel its obligation to make such payment, which shall not then be due and payable. Accordingly, the
non-payment of interest on any Interest Payment Date or redemption date (in whole or in part) is not a default in payment or otherwise under the terms of the Securities or the Indenture.

In addition, neither the occurrence of a Conversion nor the exercise of the Dutch Bail-in Power by the
relevant resolution authority with respect to the Securities shall constitute a default under the Securities or the Indenture, and following a Conversion no holder of the Securities will have any rights against the Issuer with respect to the
repayment of the principal of, or interest on, the Securities. By acquiring any Securities, each holder and beneficial owner of a Security or any interest therein acknowledges and agrees that no exercise of any Dutch
Bail-in Power by the relevant resolution authority with respect to the Securities or cancellation or deemed cancellation of interest on the Securities in whole or in part in accordance with the terms of the
Indenture and the Securities shall give rise to a default for purposes of Section 315(b) (Notice of Default) and Section 315(c) (Duties of the Trustee in Case of Default) of the Trust Indenture Act.

The