The Toronto Stock Exchange reports that National Bank of Canada subscription receipts have been delisted, effective at the close on Feb. 3, 2025. According to the TSX, National Bank has acquired each outstanding common share of Canadian Western Bank, other than those beneficially owned by National Bank and its subsidiaries. As a result, holders of subscription receipts will receive, without any further action on the part of the holder thereof, and without payment of any additional consideration: (i) one common share of National Bank; and (ii) a dividend equivalent payment, for each subscription receipt held.

As the subscription receipts are held in the book entry system administered by CDS and no individual certificates are issued, holders of subscription receipts need not take any action in order to receive the common shares and the dividend equivalent payment to which they are entitled.

For more information, see the prospectus supplement dated June 12, 2024, to the short form base shelf prospectus dated Aug. 22, 2022, which is available on SEDAR+.