Company: INGVF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-196042
Chunk: 147

Company: ING GROEP NV
Filing Date: 2025-09-04
Form: 424B5
Chunk 147
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 the Code.

Section 406 of ERISA and Section 4975 of the Code prohibit Plans, as well as individual retirement accounts, Keogh plans and any
other plans or arrangements that are subject to Section 4975 of the Code (also “Plans”), from engaging in certain transactions involving “plan assets” with persons who are “parties in interest” under
ERISA or “disqualified persons” under the Code with respect to the Plan. A violation of these prohibited transaction rules may result in excise tax or other liabilities under ERISA or the Code for those persons, unless exemptive relief
is available under an applicable statutory, regulatory or administrative exemption. In addition, a fiduciary of the Plan that engages in a non-exempt prohibited transaction may be subject to penalties and
liabilities under ERISA and the Code.

The acquisition, holding or conversion of the Securities offered hereby by a Plan with respect to
which the Issuer, any underwriters, dealers, agents or any of their respective affiliates (the “Transaction Parties”) are or become a party in interest or disqualified person may result in a prohibited transaction under ERISA or
Section 4975 of the Code, unless the Securities offered hereby are acquired or held pursuant to an applicable exemption. In this regard, the U.S. Department of Labor has issued several prohibited transaction class exemptions, (each a
“PTCE”), that may provide exemptive relief if required for direct or indirect prohibited transactions that may arise from the purchase or holding of Securities offered hereby. These exemptions include PTCE 84-14 (for certain transactions determined by independent qualified professional asset managers), PTCE 90-1 (for certain transactions involving insurance company pooled
separate accounts), PTCE 91-38 (for certain transactions involving bank collective investment funds), PTCE 95-60 (for transactions involving certain insurance company
general accounts), and PTCE 96-23 (for transactions managed by in-house asset managers). In addition, ERISA Section 408(b)(17) and Section 4975(d)(20) of the
Code may provide an exemption for the purchase and sale of the Securities offered hereby, provided that neither the Issuer nor any other Transaction Party has or exercises any discretionary authority or control or render any investment advice with
respect to the assets of any Plan involved in the transaction, and provided, further, that the Plan pays no more and receives no less than “adequate consideration” in connection with the transaction (the “service provider exemption”). There