Ms. Marianne Ratte reports

NATIONAL BANK DECLARES DIVIDENDS

National Bank of Canada's board of directors has declared a dividend of $1.06 per common share for the quarter ending April 30, 2024. This dividend is payable on May 1, 2024, to common shareholders of record on March 25, 2024.

The board of directors also declared quarterly dividends on the series of first preferred shares as shown in the associated table. These dividends are payable on May 15, 2024, to first preferred shareholders of record on April 5, 2024.

The above-mentioned 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 $434-billion in assets as at Jan. 31, 2023, National Bank of Canada 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, United States specialty finance and international, complements the growth of its domestic operations. Its securities are listed on the Toronto Stock Exchange.