Company: INGVF
Filing Date: 2025-04-24
Form Type: F-3ASR
Source: 0001193125-25-093692
Chunk: 139

Company: ING GROEP NV
Filing Date: 2025-04-24
Form: F-3ASR
Chunk 139
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, either alone or as part of a qualifying unity, control the decisions made by ING Groep N.V. An example of such control includes a situation in which an entity has more than 50% of the voting rights in ING Groep N.V. An entity is also affiliated if, broadly speaking, ING Groep N.V. can directly or indirectly, either alone or as part of a qualifying unity, control the decisions made by that entity. Lastly, an entity is affiliated to ING Groep N.V. if a third party can directly or indirectly, either alone or as part of a qualifying unity, control the decisions of both ING Groep N.V. and the other entity. Taxes on Income and Capital Gains Residents of The Netherlands. Income derived from the debt securities or a gain realized on the disposal, redemption, substitution or variation of the debt securities, by a holder of a debt security who is a resident or a deemed resident of The Netherlands for Dutch corporate income tax purposes and who is subject to Dutch corporate income tax, is generally taxable in The Netherlands at a rate of 25.8%, with a step up rate of 19% on the first EUR 200,000 of taxable income (2025 rate). Income derived or deemed to be derived from a debt security or a gain realized on the disposal, redemption, substitution or variation of a debt security, by a holder of a debt security who is an individual who is a resident or deemed a resident of The Netherlands for Dutch personal income tax purposes, may, amongst others, be subject to Dutch personal income tax at progressive individual income tax rates up to 49.5% (2025 rate) if:

| (i) | the individual carries on a business, or is deemed to carry on a business, for example pursuant to a co-entitlement to the net value of an enterprise (medegerechtigde), to the assets of which such debt security is attributable; or |

| (ii) | such income or gain qualifies as income from miscellaneous activities (resultaat uit overige                                                                        
 werkzaamheden), which e.g., include activities with respect to the debt security that exceed regular, active portfolio management (normaal actief vermogensbeheer). |

-95-

If neither condition (i) nor condition (ii) above applies to an individual that holds the debt security, taxable income with regard to the debt security must be determined on the basis of a deemed return on savings and investments (sparen en