National Bank of Canada Announces Closing of NVCC AT1 Limited Recourse Capital Notes Offering

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MONTREAL, June 11, 2026 /CNW/ - National Bank of Canada ("National Bank" or the "Bank") today announced the closing of its previously announced offering of $600 million of 6.067% Limited Recourse Capital Notes, Series 4 (Non-Viability Contingent Capital (NVCC)) (Subordinated Indebtedness) (the "Notes").

The Notes were offered by a group of agents led by National Bank Financial Inc.

Concurrently with the issuance of the Notes, National Bank has also issued Non-Cumulative 5-Year Fixed Rate Reset First Preferred Shares, Series 51 (Non-Viability Contingent Capital (NVCC)) (the "Series 51 Preferred Shares") to be held by Computershare Trust Company of Canada as trustee for NBC LRCN Limited Recourse Trust (the "Limited Recourse Trust"). In case of non-payment of interest on or principal of the Notes when due, the recourse of each Note holder will be limited to that holder's proportionate share of the Limited Recourse Trust's assets in respect of the Notes, which will consist of Series 51 Preferred Shares except in limited circumstances.

The Notes and the Series 51 Preferred Shares were issued under a prospectus supplement dated June 4, 2026 to National Bank's short form base shelf prospectus dated September 6, 2024.

The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or under any state securities laws, and may not be offered, sold, directly or indirectly, or delivered within the United States of America and its territories and possessions or to, or for the account or benefit of, United States persons except in certain transactions exempt from the registration requirements of such Act. This press release shall not constitute an offer to sell or a solicitation to buy securities in the United States.

About National Bank of Canada

With $618 billion in assets as at April 30, 2026, National Bank of Canada is one of Canada's six systemically important banks. The Bank has approximately 35,000 employees in knowledge-intensive positions and operates three business segments in Canada: Personal and Commercial Banking, Wealth Management and Financial Markets. A fourth segment, U.S. Specialty Finance and International, complements the growth of its domestic operations. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at nbc.ca or via social media.

SOURCE National Bank of Canada

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