Company: INGVF
Filing Date: 2025-03-18
Form Type: 424B5
Source: 0001193125-25-056511
Chunk: 198

Company: ING GROEP NV
Filing Date: 2025-03-18
Form: 424B5
Chunk 198
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 that security. A security will usually have only one depositary but it may have more. Owner’s Option to Obtain a Non-GlobalSecurity; Special Situations When a Global Security Will Be Terminated If we issue any series of securities in book-entry form but we choose to give the beneficial owners of that series the right to obtain non-globalsecurities, any beneficial owner entitled to obtain non-globalsecurities may do so by following the applicable procedures of the depositary, any transfer agent or registrar for that series and that owner’s bank, broker or other financial institution through which that owner holds its beneficial interest in the securities. In addition, in a few special situations described below, a global security will be terminated and interests in it will be exchanged for certificates in non-globalform representing the securities it represented. After that exchange, the choice of whether to hold the securities directly or in street name will be up to the investor. Investors must consult their own banks or brokers to find out how to have their interests in a global security transferred on termination to their own names, so that they will be holders. We have described the rights of holders and street name investors above under “— Who is the Legal Owner of a Registered Security?” Unless your prospectus supplement says otherwise, the special situations for termination of a global security are as follows:

| · |     | if the depositary notifies us that it is unwilling, unable or no longer qualified to continue as depositary for that global security and we do not appoint 
 another institution to act as depositary within 60 days;                                                                                                   |

| · |     | if we notify the trustee or any agent, as applicable, that we wish to terminate that global security; or |

| · |     | in the case of a global security representing debt securities or capital securities issued under an indenture, if an event of default has occurred with regard 
 to these debt securities and has not been cured or waived.                                                                                                     |

If a global security is terminated, only the depositary, and neither we nor the trustee for any debt securities, nor any agent, is responsible for deciding the names of the institutions in whose names the securities represented by the global security will be registered and, therefore, who will be the holders of those securities. -89-

Limitations on Rights Resulting from Book-Entry Form

The laws of some jurisdictions require that certain purchasers of securities take physical delivery of securities in definitive form. These
laws may impair the ability to transfer beneficial interests in the global securities as represented by a