Company: INGVF
Filing Date: 2025-03-18
Form Type: 424B5
Source: 0001193125-25-056511
Chunk: 37

Company: ING GROEP NV
Filing Date: 2025-03-18
Form: 424B5
Chunk 37
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 provided to each           
 of them in this regard.                                                                                                                                                                                                                             |

No consent of the holders of the notes shall be required in connection with effecting the relevant SOFR Benchmark Replacement as described in this section or such other relevant adjustments pursuant to this section, including for the execution of, or amendment to, any documents or the taking of other steps by the Issuer (or its designee) or any of the parties to the Indenture or Calculation Agent Agreement (if required). S-31

By its acquisition of the notes, each holder and beneficial owner of the notes and each
subsequent holder and beneficial owner acknowledges, accepts, agrees to be bound by, and consents to, the Issuer’s (or its designee’s) determination of the SOFR Benchmark Replacement, as contemplated by this section “— SOFR
Discontinuation”, and to any amendment or alteration of the terms and conditions of the notes, including an amendment of the amount of interest due on the notes, as may be required in order to give effect to this section “— SOFR
Discontinuation”, without the need for any further consent from the holders of the notes. The trustee shall be entitled to rely on this deemed consent in connection with any supplemental indenture or amendment which may be necessary to give
effect to the SOFR Benchmark Replacement or any application of this section “— SOFR Discontinuation”.

By its acquisition
of the notes, each holder and beneficial owner of the notes and each subsequent holder and beneficial owner waives any and all claims in law and/or equity against the trustee, the Calculation Agent and any paying agent for, agrees not to initiate a
suit against the trustee, the Calculation Agent and any paying agent in respect of, and agrees that neither the trustee, the Calculation Agent or any paying agent will be liable for, any action that the trustee, the Calculation Agent or any paying
agent, as the case may be, takes, or abstains from taking, in each case in accordance with this section “— SOFR Discontinuation” or any losses suffered in connection therewith.

Notwithstanding any other provision of this section “— SOFR Discontinuation”, no SOFR Benchmark Replacement will be adopted,
nor will the SOFR Benchmark Replacement Adjustment (as applicable) be applied, nor will any other amendments to the terms and conditions of the notes be made, if and to the extent that, in the determination of the Issuer , the same could reasonably
be expected to result in the exclusion of the notes