Company: INGVF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-196042
Chunk: 247

Company: ING GROEP NV
Filing Date: 2025-09-04
Form: 424B5
Chunk 247
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 or waived without the consent of the holders of the capital securities affected thereby. |

In addition, unless the relevant prospectus supplement provides otherwise, any variations in the terms and conditions of the capital securities of any series, including modifications relating to the subordination or redemption provisions of such capital securities, can only be made in accordance with the rules and requirements of the European Banking Authority, as and to the extent applicable from time to time. Changes Not Requiring Approval The second type of change does not require any approval by holders of the capital securities. These changes are limited to clarifications and changes that would not adversely affect the capital securities in any material respect. Nor do we need any approval to make any change that affects only capital securities to be issued under the applicable indenture after the changes take effect. We may also make changes or obtain waivers that do not adversely affect a particular capital security, even if they affect other capital securities. In those cases, we do not need to obtain the approval of the holder of that capital security; we need only obtain any required approvals from the holders of the affected capital securities or other capital securities. -60-

Changes Requiring Majority Approval Any other change to the capital securities indenture and the capital securities issued thereunder would require the following approval:

| • |     | if the change affects only one series of capital securities, it must be approved by the holders of a majority in 
 principal amount of the relevant series of capital securities; or                                                |

| • |     | if the change affects more than one series of capital securities issued under the capital securities indenture,                                                                                                                                          
 it must be approved by the holders of a majority in principal amount of the series affected by the change, with all affected series voting together as one class for this purpose (and of any series that by its terms is entitled to vote separately as 
 a series).                                                                                                                                                                                                                                               |

In each case, the required approval must be given by written consent. The same majority approval would be required for us to obtain a waiver of any of our covenants in the capital securities indenture. Our covenants include the promises we make about merging which we describe above under “— Mergers and Similar Transactions.” If the holders agree to waive a covenant, we will not have to comply with it. A majority of holders, however, cannot approve a waiver of any provision in a particular capital security, or in the capital securities indenture as it affects that capital security, that we cannot change without the approval of each holder of that capital security as described