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

Company: ING GROEP NV
Filing Date: 2025-09-04
Form: 424B5
Chunk 25
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 Interest Payment Date or redemption date. The Issuer may make such election for any reason. In addition, payment of interest will be prohibited if and to the extent that certain regulatory conditions are not satisfied,
including that (i) Distributable Items are insufficient and/or (ii) payment would cause the Maximum Distributable Amount (if any) then applicable to the Issuer to be exceeded (as further described below). Furthermore, if a Liquidation
Event or Trigger Event and Conversion occurs all interest accrued and unpaid shall be cancelled. There can, therefore, be no assurances that a holder will receive interest payments in respect of the Securities.

Insufficient Distributable Items

The Issuer shall not make an interest payment (including any Additional Amounts) on the Securities on any Interest Payment Date or redemption
date (and such interest payment shall therefore be deemed to have been cancelled and thus shall not be due and payable) if and to the extent that the amount of such interest payment otherwise due, together with any interest payments or distributions
which have been paid or made or which are required to be paid or made during the then current financial year on other own funds items (which, for the avoidance of doubt, excludes any such interest payments or distributions which (i) are not
required to be made out of Distributable Items or (ii) have already been provided for, by way of deduction, in the calculation of Distributable Items) shall, in aggregate, exceed the amount of Distributable Items of the Issuer as at such
Interest Payment Date or redemption date. Accordingly, the amount of Distributable Items available for this purpose may be affected, inter alia, by other discretionary interest payments or CET1 distributions.

Maximum Distributable Amount

The Issuer shall not be permitted to pay any interest otherwise due on an Interest Payment Date or redemption date if and to the extent that
the payment of such interest, when aggregated together with certain other distributions of the kind referred to in Article 3:62b(2) of the Dutch Financial Supervision Act (Wet op het financieel toezicht) (implementing Article 141(2) of the
CRD IV Directive), Article 3:62ba(2) of the Dutch Financial Supervision Act (implementing Article 141b(2) of the CRD IV Directive), Article 3A:11b of the Dutch Financial Supervision Act (implementing Article 16a BRRD) or Article 10a of the SRMR, in
each case