Company: INGVF
Filing Date: 2025-03-20
Form Type: 424B5
Source: 0001193125-25-058308
Chunk: 231

Company: ING GROEP NV
Filing Date: 2025-03-20
Form: 424B5
Chunk 231
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 each obligation in the deposit agreement and any related agreement will be performed in accordance with its terms.

In general, for U.S. federal income and Dutch tax purposes, holders of ADRs evidencing ADSs will be treated as the owners of the ordinary
shares represented by the ADSs, and exchanges of ordinary shares for ADSs representing our ordinary shares and then for ADRs, and exchanges of ADRs for ordinary shares, will not be subject to U.S. federal or Dutch income tax.

It is assumed for the purposes of this summary that the holders of the ADSs are entitled to the benefits of the Treaty.

Netherlands Taxation

This section provides a general summary of the material Dutch tax issues and consequences of acquiring, holding, redeeming and/or disposing of
the ADSs. This summary provides general information only and is restricted to the matters of Dutch taxation stated therein. The information given below is neither intended as tax advice nor purports to describe all of the tax considerations that may
be relevant to a prospective purchaser of the ADSs.

The prospective purchaser should consult his or her own tax advisor regarding Dutch
tax consequences of acquiring, holding, redeeming and/or disposing of the ADSs.

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This summary is based on the tax legislation, published case law, and other regulations in The Netherlands in force as at the date of this prospectus, without prejudice to any amendments introduced at a later date and implemented with or without retroactive effect. This summary does therefore not take into account the Conditional Withholding Tax on Dividends Act (Wet invoering conditionele bronbelasting op dividenden )as this Act is not yet in effect as of the date of this prospectus. Once the Conditional Withholding Tax on Dividends Act becomes effective on January 1, 2024, the scope of the Dutch Withholding Tax Act 2021 will be expanded to certain dividends paid or accrued to certain entities related to ING Groep N.V. that are located in certain low-taxedjurisdictions. In the event that any withholding would be required pursuant to the Dutch Withholding Tax Act 2021 with respect to payments on the ADSs, ING Groep N.V. will not pay any additional amounts in respect of this withholding. We assume that the ADSs and income received or capital gains derived there from are not attributable to employment activities of the holder of the ADSs. We assume that the holders of the ADSs do not hold a substantial interest in ING Groep N.V