Ms. Marianne Ratte reports

STATEMENT BY NATIONAL BANK ON ABA BANK

Following the publication of media articles this morning, and while it is not customary for National Bank of Canada to comment on market rumours, the bank is currently not engaged in any process or negotiations for the sale of ABA Bank, nor has it hired any advisers.

ABA is a success story, delivering strong growth and superior returns for National Bank. For the year ended Oct. 31, 2023, ABA generated revenues of $726-million and $343-million in net income. Over the past five years, the franchise grew loans and deposits by over four times with a continued focus on serving local small and medium businesses in industries that are central to the economy of Cambodia. National Bank continues to be pleased with its performance and strong record, its talented management team, strong execution and prudent risk management. National Bank continues to support ABA's growth and participation in the establishment of a sound and resilient banking industry for Cambodia, underpinned by attractive economic prospects and strong fundamentals.

National Bank does not anticipate issuing any further public statement regarding any rumours or speculation in the marketplace unless required by applicable laws.

About National Bank of Canada

With $434-billion in assets as at Jan. 31, 2024, National Bank of Canada is one of Canada's six systemically important banks.

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