Company: INGVF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-196042
Chunk: 1

Company: ING GROEP NV
Filing Date: 2025-09-04
Form: 424B5
Chunk 1
---
                   |

| • |     | automatically convert into ordinary shares if at any time the Group CET1 Ratio is determined to be less than 7.00% 
 (a “Trigger Event”);                                                                                               |

| • |     | are subject to the exercise of the Dutch Bail-in Power by the relevant 
 resolution authority; and                                              |

| • |     | constitute the Issuer’s unsecured obligations ranking pari passu without any preference among 
 themselves and rank subordinate to Senior Instruments.                                        |

Subject to the Issuer’s sole and absolute discretion to pay or cancel payments of interest, interest on the Securities will be payable semi-annually in arrears on May 16 and November 16 of each year, commencing November 16, 2025. By its acquisition of the Securities or any beneficial interest therein, each holder and beneficial owner of the Securities and each subsequent holder and beneficial owner of the Securities, (i) acknowledges, accepts, agrees to be bound by, and consents to, the Issuer’s determination to substitute the Securities or vary the terms of the Securities as provided above, (ii) grants to the Issuer and the trustee full power and authority to take any action and/or to execute and deliver any document in the name and/or on behalf of such holder or beneficial owner, as the case may be, which is necessary or convenient to complete such substitution of the Securities or the variation of the terms of the Securities, as applicable; and (iii) to the extent permitted by the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”), waives any and all claims, in law and/or in equity, against the Issuer and the trustee for, agrees not to initiate a suit against the Issuer or the trustee in respect of, and agrees that neither the Issuer nor the trustee shall be liable for, any action that the Issuer or the trustee takes, or abstains from taking, in either case in connection with the substitution of the Securities or the variation of the terms of the Securities at the option of the Issuer as provided in “Description of the Securities – Substitution and Variation.” The Securities are not intended to be offered, sold or otherwise made available and should not be offered, sold or otherwise made available to retail clients in the European Economic Area (“EEA”), as defined in Directive 2014/65/EU (as amended, “MiFID II”). The Securities are not intended to be offered, sold or otherwise made