Ms. Marianne Ratte reports

NATIONAL BANK CONFIRMS RECORD DATE AND PAYMENT DATE FOR COMMON SHARES AND PREFERRED SHARES

National Bank of Canada has issued this release following questions received regarding the record date and payment date for common and preferred shares.

National Bank wishes to confirm that it will pay, as previously disclosed by National Bank and by CDS Clearing and Depositary Services Inc., the May 1, 2024, dividend to common shareholders of record on March 25, 2024.

As previously announced on Feb. 28, 2024, the board of directors of National Bank has declared a quarterly dividend of $1.06 per common share payable on May 1, 2024, to shareholders of record on March 25, 2024. This announcement was widely disseminated, including by press release and on National Bank's website.

Further to this announcement, CDS issued a bulletin on Feb. 29, 2024, notifying all CDS participants of the May 1, 2024, dividend payment date and the March 25, 2024, record date.

This information was also disseminated by financial news providers and was therefore available to Toronto Stock Exchange participating organizations, the financial community and other market participants. For this reason, National Bank is of the view that the market accurately reflected this information in its trading.

However, on April 4, 2024, the TSX issued administrative releases notifying market participants of a late dividend notification.

National Bank confirms that the common shareholders of record on March 25, 2024, will receive the May 1, 2024, dividend. Also, as stated in the Feb. 28, 2024, press release, preferred shareholders of record on April 5, 2024, will receive the dividend on May 15, 2024. For further clarification, all common and preferred shareholders can refer to the press release dated Feb. 28, 2024, available on National Bank's website.

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. 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 TSX under the symbol NA.