Company: INGVF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-196042
Chunk: 90

Company: ING GROEP NV
Filing Date: 2025-09-04
Form: 424B5
Chunk 90
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, at the time of such redemption, substitution, variation or purchase, the prevailing Capital Regulations                                                                                               
 permit the redemption, substitution, variation or purchase only after compliance with one or more alternative or additional pre-conditions to those set out in clauses (a), (b) and (c) above, the Issuer 
 having complied with such other pre-condition(s).                                                                                                                                                         |

The Issuer or any member of the Group may purchase or procure others to purchase beneficially for its account any of the outstanding Securities in any manner and at any price, subject to the conditions included above in this section “— Conditions to Redemption, Substitution, Variation and Purchase” and to applicable law and regulation (which at the Issue Date shall include, without limitation, the Capital Regulations including Article 52(1)(i) of the CRR). “ Applicable Resolution Framework” means any relevant laws and regulations applicable to the Issuer and/or the Regulatory Group at the relevant time either pursuant to, or which implement, or are enacted within the context of the BRRD, the SRM Regulation and the Dutch Intervention Act, as amended or replaced from time to time, or any other resolution or recovery rules which may from time to time be applicable to the Issuer and/or the Regulatory Group. S-70

“Competent Authority” means the European Central Bank or any other body
or authority having primary supervisory authority with respect to the Issuer, ING Bank or the Group and/or the relevant Resolution Authority.

“Regulatory Group” means the Issuer, its subsidiary undertakings, participations, participating interests and any
subsidiary undertakings, participations or participating interests held (directly or indirectly) by any of its subsidiary undertakings from time to time and any other undertakings from time to time consolidated with the Issuer for regulatory
purposes, in each case in accordance with the rules and guidance of the Competent Authority then in effect.

“Resolution Authority” means the European Single Resolution Board, the European Central Bank, the Dutch Central Bank (De Nederlandsche Bank N.V.) or such other regulatory authority or governmental body having the power to impose statutory loss
absorption on the Securities pursuant to the Applicable Resolution Framework.

Cancellation

All Securities redeemed or repurchased by the Issuer shall forthwith be cancelled. All Securities purchased on behalf of the Issuer by any
member of the Group other than the Issuer may be held, reissued, resold or, at the option of the