Company: INGVF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-196042
Chunk: 108

Company: ING GROEP NV
Filing Date: 2025-09-04
Form: 424B5
Chunk 108
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 rights calculated as at the date of issue of such options, warrants or rights or upon conversion or exchange or exercise of rights of subscription or purchase or other rights of 
 acquisition in respect thereof at the initial conversion, exchange, subscription, purchase or acquisition price or rate,                                                                                                                         |

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 the occurrence of any event at some subsequent time, then for the purposes of this paragraph (iv), “C” shall be determined by the application of such formula or variable feature or as if the relevant event occurs or had occurred as at the Effective Date and as if such conversion, exchange, subscription, purchase or acquisition had taken place on the Effective Date. Such adjustment shall become effective on the Effective Date. “ Effective Date” means, for purposes of this paragraph (iv), the first date on which the ordinary shares are traded ex-rights, ex-optionsor ex-warrantson the Relevant Stock Exchange.

| (v) | If and whenever the Issuer or any member of the Group or (at the direction or request or pursuant to any                                                                                    
 arrangements with the Issuer or any member of the Group) any other company, person or entity shall issue any securities (other than ordinary shares or options, warrants or other rights to |

S-82

| subscribe for or purchase or otherwise acquire any ordinary shares or securities which by their terms carry (directly or indirectly) rights of conversion into, or exchange or subscription for, or                                                   
 rights to otherwise acquire, ordinary shares) to shareholders as a class by way of rights or grant to shareholders as a class by way of rights any options, warrants or other rights to subscribe for or purchase or otherwise acquire any securities 
 (other than ordinary shares or options, warrants or other rights to subscribe for or purchase or otherwise acquire ordinary shares or securities which by their term carry (directly or indirectly) rights of conversion into, or exchange or         
 subscription for, rights to otherwise acquire, ordinary shares), 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 where:

| A | is the Current Market Price of one ordinary share on the Effective Date; and |

| B | is the Fair Market Value on the Effective Date of the portion of the rights attributable to one ordinary share. |

Such adjustment shall become effective on the Effective Date. “ Effective Date” means, for purposes of this paragraph