Company: INGVF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-196042
Chunk: 136

Company: ING GROEP NV
Filing Date: 2025-09-04
Form: 424B5
Chunk 136
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. In general, your tax basis in your Securities will be equal to the price you paid for

S-99

them. Where different blocks of Securities were acquired at different times or at different prices, the tax basis and holding period of the Conversion Shares or the substituted or modified
Securities are generally determined by reference to each such block of Securities.

Sale or Redemption of the Securities and Conversion Shares. Subject to the discussion under “— PFIC Considerations” below, you will generally recognize capital gain or loss upon the sale of your Securities (other than a conversion of the Securities into
Conversion Shares, as discussed above) in an amount equal to the difference between the amount you receive at such time and your tax basis in the Securities. In general, your tax basis in your Securities will be equal to the price you paid for them.
You should generally recognize capital gain or loss upon the sale of your Conversion Shares in an amount equal to the difference between the amount you receive (or, in cases where you receive amounts other than in U.S. dollars, the U.S. dollar
value of the amount you receive) in respect of the Conversion Shares sold and your tax basis in such Conversion Shares. Such capital gain or loss will be long-term capital gain or loss if you held your Securities and Conversion Shares for more than
one year. Long-term capital gain of a non-corporate U.S. holder is generally taxed at preferential rates. The deductibility of capital losses is subject to limitations. Such gain or loss will generally be
income or loss from sources within the United States for foreign tax credit limitation purposes.

If we redeem your Securities, you will
generally be treated as if you had sold your Securities if the redemption (i) results in a complete termination of your equity interest in us or (ii) is not essentially equivalent to a dividend with respect to you. In determining whether
any of these tests has been met, you are generally required to take into account equity interests that you are deemed to own constructively under Section 318 of the Code. If you do not hold any of our voting stock, a redemption of Securities
will generally be treated as not essentially equivalent to a dividend with respect to you.

If a redemption of Securities does not meet
either of the tests described above, the redemption proceeds will generally be treated as a distribution on your Securities and will be taxable as described under “— Distributions on the Securities and Conversion Shares”
above. You should consult your tax adviser regarding the appropriate tax treatment of red