Ms. Marianne Ratte reports

NATIONAL BANK RELEASES REVISED SUPPLEMENTARY FINANCIAL INFORMATION

National Bank of Canada has released a revision to its supplementary financial information for the fiscal years ended Oct. 31, 2024, and Oct. 31, 2023, and related quarters.

Effective Nov. 1, 2024, the bank is discontinuing the presentation of revenues on a taxable equivalent basis (TEB).

The TEB presentation is less relevant following the introduction of the Pillar 2 rules (global minimum tax) in the first quarter of 2025 and of Bill C-59 regarding the taxation of certain Canadian dividends earlier in 2024. This change has no impact on net income previously reported. The information for the fiscal years ended Oct. 31, 2024, and Oct. 31, 2023, and related quarters has been adjusted to reflect the change.

The revised supplementary financial information is available on the bank's investor relations page.

About National Bank of Canada

With $462-billion in assets as at Oct. 31, 2024, National Bank is one of Canada's six systemically important banks. The bank has approximately 30,000 employees in knowledge-intensive positions and operates through 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.