Company: INGVF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-196042
Chunk: 77

Company: ING GROEP NV
Filing Date: 2025-09-04
Form: 424B5
Chunk 77
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 be paid or made during the then current financial year on other own funds items (which, for the avoidance of doubt, excludes any such interest payments or distributions which (i) are not required 
 to be made out of Distributable Items or (ii) have already been provided for, by way of deduction, in the calculation of Distributable Items) shall, in the aggregate exceed the amount of Distributable Items of the Issuer as at such Interest    
 Payment Date or redemption date;                                                                                                                                                                                                                    |

| (b) | the payment of such interest, when aggregated together with certain other distributions of the kind referred to                                                                                                                                  
 in Article 3:62b(2) of the Dutch Financial Supervision Act (Wet op het financieel toezicht) (implementing Article 141(2) of the CRD IV Directive), Article 3:62ba(2) of the Dutch Financial Supervision Act (implementing Article 141b(2) of the 
 CRD IV Directive) or                                                                                                                                                                                                                             |

S-62

| Article 3A:11b of the Dutch Financial Supervision Act (implementing Article 16a BRRD) or Article 10a of the SRMR, in each case as amended or replaced from time to time (or any provision of                                                           
 applicable law, including the Dutch Financial Supervision Act, as amended or replaced, and as in force and applicable in The Netherlands from time to time) or, as applicable, any analogous restrictions arising from the requirement to meet capital 
 buffers under the Capital Regulations, would cause the Maximum Distributable Amount, if any, then applicable to the Issuer to be exceeded; or                                                                                                          |

| (c) | the payment of such interest is scheduled to be made on an Interest Payment Date falling on or after the date 
 of a Trigger Event or Liquidation Event.                                                                      |

The Issuer may, however, in its sole discretion, elect to make a partial interest payment on the Securities to the extent that such partial interest payment may be made without breaching the above restriction. “ BRRD” or the “ Bank Recovery and Resolution Directive” means Directive 2014/59/EU of the European Parliament and of the Council dated May 15, 2014, as amended or replaced from time to time (including by Directive (EU) 2019/879 of the European Parliament and of the Council of May 20, 2019) (or any provision of applicable law, including the Dutch Financial Superv