Company: INGVF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-196042
Chunk: 109

Company: ING GROEP NV
Filing Date: 2025-09-04
Form: 424B5
Chunk 109
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 (v), the first date on which the ordinary shares are traded ex-therelevant securities or ex-rights, ex-optionor ex-warrantson the Relevant Stock Exchange.

| (vi) | If and whenever the Issuer shall issue (otherwise than as mentioned in paragraph (iv) above) wholly for                                                                                                                                                   
 cash or for no consideration any ordinary shares (other than ordinary shares issued on conversion of the Securities or comparable contingent convertible capital securities or on the exercise of any rights of conversion into, or exchange or           
 subscription for or purchase of, or right to otherwise acquire ordinary shares) or if and whenever the Issuer or any member of the Group or (at the direction or request or pursuance to any arrangements with the Issuer or any member of the Group) any 
 other company, person or entity shall issue or grant (otherwise than as mentioned in paragraph (iv) above) wholly for cash or for no consideration any options, warrants or other rights to subscribe for or purchase or otherwise acquire any            
 ordinary shares (other than, for the avoidance of doubt, the Securities or any Further Capital Securities or comparable contingent convertible capital securities), in each case at a price per ordinary share which is less than 95% of the Current      
 Market Price per ordinary share on the date of the first public announcement of the terms of such issue or grant, the Floor Price shall be adjusted by multiplying the Floor Price in force immediately prior to the Effective Date by the following      
 fraction:                                                                                                                                                                                                                                                 |

A + B A + C where:

| A | is the number of ordinary shares in issue immediately before the issue of such ordinary shares or the grant of 
 such options, warrants or rights;                                                                              |

| B | is the number of ordinary shares which the aggregate consideration (if any) receivable for the issue of such                                                                                                                            
 ordinary shares or, as the case may be, for the ordinary shares to be issued or otherwise made available upon the exercise of any such options, warrants or rights, would purchase at such Current Market Price per ordinary share; and |

S-83

| C | is the number of ordinary shares to be issued pursuant to such issue of such ordinary shares or, as the case                                                                                
 may be, the maximum number of ordinary shares which may be issued upon exercise of such options, warrants or rights calculated as at the date of issue of such options, warrants or rights, |

providedthat if on the Effective Date such number of ordinary shares is to be determined by reference to the application of a formula or other variable feature or