Company: INGVF
Filing Date: 2025-03-18
Form Type: 424B5
Source: 0001193125-25-056511
Chunk: 88

Company: ING GROEP NV
Filing Date: 2025-03-18
Form: 424B5
Chunk 88
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 with considerable discretion, holders of our debt securities and capital securities may not be able to refer to publicly available criteria in order to anticipate a
potential exercise of any such Dutch Bail-in Power and consequently its potential effect on the Group and our debt securities and capital securities.

The rights of holders of our debt securities and capital securities to challenge the exercise of any Dutch Bail-inPower by the relevant resolution authority are likely to be limited.

Holders of our debt
securities and capital securities may have no or only limited rights to challenge, to demand compensation for losses and/or seek a suspension of any decision of the relevant resolution authority to exercise its Dutch
Bail-in Power or to have that decision reviewed by a judicial or administrative process or otherwise.

Risks Relating to our Debt Securities Generally

Holders of our debt securities have very limited remedies in the case of non-paymentunder our debt securities.

Under the terms of our debt securities, there is no event of default except in the event of our bankruptcy or,
in certain circumstances, liquidation, unless otherwise specified in the applicable prospectus supplement. The trustee and holders of our debt securities will be entitled to declare the principal amount of our debt securities due and payable prior
to the scheduled maturity only upon our bankruptcy or a relevant liquidation (in which case the principal amount of our debt securities will be automatically accelerated). Your remedies for our breach of any obligations under our debt securities
(including our obligation to pay amounts of principal and interest that have become due) are extremely limited, as described immediately below.

The non-payment of interest or principal on any interest payment date or redemption date (in whole or
in part) is not an event of default under the terms of our debt securities or the senior debt indenture or subordinated debt indenture, as applicable. Accordingly, there is no right under our debt securities or under the senior debt indenture or
subordinated debt indenture, as applicable, to accelerate any payments under the debt securities in such circumstances.

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In addition, the exercise of the Dutch Bail-in Power
by the relevant resolution authority with respect to our debt securities will not constitute an event of default or a default under our debt securities or the senior debt indenture or subordinated debt indenture, as applicable. By acquiring any of
our debt securities, each holder and beneficial owner of our debt securities or any interest therein acknowledges and agrees that exercise of the Dutch Bail-in Power by the relevant resolution authority with
respect to our debt securities will not give rise to a default for