Company: INGVF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-196042
Chunk: 139

Company: ING GROEP NV
Filing Date: 2025-09-04
Form: 424B5
Chunk 139
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 have not yet been fully finalized, so it is
impossible to determine at this time what impact, if any, this withholding will have on holders of the Securities and Conversion Shares.

The Issuer will not pay any additional amounts in respect of this withholding, so, if this withholding applies, you will receive significantly
less than the amount that you would have otherwise received with respect to your Securities or Conversion Shares. Depending on your circumstances, you may be entitled to a refund or credit in respect of some or all of this withholding. However, even
if you are entitled to have any such withholding refunded, the required procedures could be cumbersome and significantly delay your receipt of any amounts withheld.

Material Dutch Tax Consequences

This
section provides a general summary of the material Dutch tax issues and consequences of acquiring, holding, substitution, variation, redeeming and/or disposing of the Securities and/or the Conversion of the Securities into Conversion Shares. This
summary provides general information only and is restricted to the matters of Dutch taxation stated herein. The information given below is neither intended as tax advice nor purports to describe all of the tax considerations that may be relevant to
you.

You should consult your own tax advisor regarding Dutch tax consequences of acquiring, holding, substitution, variation, redeeming
and/or disposing of the Securities and/or the Conversion of the Securities into Conversion Shares.

This summary is based on the tax
legislation, published case law, treaties, and other regulations and published policy, in each case as in The Netherlands in force as of the date of this prospectus supplement, and it does not take into account any developments or amendments thereof
after that date whether or not such developments or amendments have retroactive effect.

S-101

This summary does not describe the potential consequences for holders of the Securities
and/or Conversion Shares pursuant to the Dutch Minimum Tax Act 2024 (Wet minimumbelasting 2024).

The Issuer assumes that the
holders of the Securities and/or Conversion Shares are not individuals to whom the Securities and/or Conversion Shares or the income therefrom is attributable to employment activities which are taxed as employment income in The Netherlands.

The Issuer assumes that the holders of the Securities and/or Conversion Shares do not hold a substantial interest (aanmerkelijk belang)
or deemed substantial interest (fictief aanmerkelijk belang) in ING Groep N.V. Generally speaking, an interest in the share capital of ING Groep N.V. should not be considered a substantial interest if the holder of such interest