Company: INGVF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-196042
Chunk: 113

Company: ING GROEP NV
Filing Date: 2025-09-04
Form: 424B5
Chunk 113
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, exchange, subscription, purchase or acquisition attaching to such securities.

| (ix) | If and whenever the Issuer or any member of the Group or (at the direction or request of or pursuant to any                                                                                                                                         
 arrangements with the Issuer or any member of the Group) any other company, person or entity shall offer any securities in connection with which shareholders as a class are entitled to participate in arrangements whereby such securities may be 
 acquired by them (except where the Floor Price is required to be adjusted under paragraphs (ii) through (vi) above (or would be required to be so adjusted if the relevant issue or grant was at less than 95% of the Current Market Price per      
 ordinary share on the relevant dealing day under paragraph (v) above)) the Floor Price shall be adjusted by multiplying the Floor Price in force immediately before 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 relevant offer attributable to one 
 ordinary share.                                                                                         |

Such adjustment shall become effective on the Effective Date. “ Effective Date” means, for purposes of this paragraph (ix), the first date on which the ordinary shares are traded ex-rightson the Relevant Stock Exchange.

| (x) | If the Issuer determines that a reduction to the Floor Price should be made for whatever reason, the Floor                                                                                                                           
 Price will be reduced (either generally or for a specified period as notified to holders of the Securities) in such manner and with effect from such date as the Issuer shall determine and notify to the holders of the Securities. |

For the purpose of any calculation of the consideration receivable or price pursuant to paragraphs (iv) and (vi)–(viii), the following provisions shall apply:

| (i) | the aggregate consideration receivable or price for ordinary shares issued for cash shall be the amount of such 
 cash;                                                                                                           |

S-86

| (ii) | (x) the aggregate consideration receivable or price for ordinary shares to be issued or otherwise made                                                                                                                                                    
 available upon the conversion or exchange of any securities shall be deemed to be the consideration or price received or receivable for any such securities and (y) the aggregate consideration receivable or price for ordinary shares to be issued      
 or otherwise made available upon the exercise of rights of subscription attached to any securities or upon the exercise of any options, warrants or