Company: INGVF
Filing Date: 2025-03-20
Form Type: 424B5
Source: 0001193125-25-058308
Chunk: 9

Company: ING GROEP NV
Filing Date: 2025-03-20
Form: 424B5
Chunk 9
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 markets; |

| · |     | changes in conditions in the credit and capital markets generally, including changes in borrower and counterparty creditworthiness; |

| · |     | failures of banks falling under the scope of state compensation schemes; |

| · |     | non-compliance with or changes in laws and regulations, including those concerning financial services, financial 
 economic crimes and tax laws, and the interpretation and application thereof;                                    |

| · |     | geopolitical risks, political instabilities and policies and actions of governmental and regulatory authorities, including in connection with the invasion of 
 Russia into Ukraine and the related international response measures;                                                                                          |

| · |     | legal and regulatory risks in certain countries with less developed legal and regulatory frameworks; |

| · |     | prudential supervision and regulations, including in relation to stress tests and regulatory restrictions on dividends and distributions, (also among members 
 of the Group);                                                                                                                                                |

S-1

| · |     | ING’s ability to meet minimum capital and other prudential regulatory requirements; |

| · |     | changes in regulation of US commodities and derivatives businesses of ING and its customers; |

| · |     | application of bank recovery and resolution regimes, including write-down and conversion powers in relation to our securities; |

| · |     | outcome of current and future litigation, enforcement proceedings, investigations or other regulatory actions, including claims by customers or stakeholders 
 who feel misled or treated unfairly, and other conduct issues;                                                                                               |

| · |     | changes in tax laws and regulations and risks of non-compliance or investigation in connection with tax laws, including 
 FATCA (as defined below);                                                                                               |

| · |     | operational and IT risks, such as system disruptions or failures, breaches of security, cyber-attacks, human error, changes in operational practices or                                                                                               
 inadequate controls including in respect of third parties with which we do business and including any risks as a result of incomplete, inaccurate, or otherwise flawed outputs from the algorithms and data sets utilized in artificial intelligence; |

| · |     | risks and challenges related to cybercrime including the effects of cyber-attacks and changes in legislation and regulation related to cybersecurity and data               
 privacy, including such risks and challenges as a consequence of the use of emerging technologies, such as advanced forms of artificial intelligence and quantum computing; |

| · |     | changes in general competitive factors, including ability to increase or maintain market share; |

| · |     | inability to protect our intellectual property and