Ms. Marianne Ratte reports

NATIONAL BANK INCREASES ITS COMMON SHARE DIVIDEND BY 4 CENTS

National Bank of Canada's board of directors has increased the common share dividend by four cents per common share to $1.18 per common share for the quarter ending July 31, 2025. This dividend is payable on Aug. 1, 2025, to common shareholders of record on June 30, 2025.

The board of directors has declared quarterly dividends on the series of first preferred shares noted in the attached table. The dividends of the Series 30, Series 38, Series 40 and Series 42 first preferred shares are payable on Aug. 15, 2025, to first preferred shareholders of record on July 7, 2025. As for the first preferred shares of Series 47 and Series 49, these dividends are payable on July 31, 2025, to first preferred shareholders of record on July 24, 2025.

The dividends on the common and preferred shares are designated as eligible dividends for the purposes of the Income Tax Act (Canada) and any similar applicable provincial legislation.

Eligible shareholders may elect to have their cash dividend reinvested, free of charge, in common shares in accordance with the bank's dividend reinvestment and share purchase plan. For more information, please contact Computershare Trust Company of Canada at 1-888-838-1407. Beneficial or non-registered common and preferred shareholders must contact their financial institution or broker for instructions on how to participate in such plan.

About National Bank of Canada

With $536-billion in assets as at April 30, 2025, National Bank of Canada is one of Canada's six systemically important banks. The bank has approximately 34,000 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 the bank's domestic operations. National Bank's securities are listed on the Toronto Stock Exchange.