Ms. Marianne Ratte reports

NATIONAL BANK INCREASES ITS COMMON SHARE DIVIDEND BY 6 CENTS

National Bank of Canada's board of directors has made an increase to its dividend of six cents per common share to $1.24 per common share for the quarter ending Jan. 31, 2026. This dividend is payable on Feb. 1, 2026, to common shareholders of record on Dec. 29, 2025.

The board of directors also declares quarterly dividends on the following series of first preferred shares. The dividends of the Series 30, 38, 40 and 42 first preferred shares are payable on Feb. 15, 2026, to first preferred shareholders of record on Jan. 6, 2026. As for the first preferred shares of Series 47 and 49, these dividends are payable on Jan. 31, 2026, to first preferred shareholders of record on Jan. 24, 2026.

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 institutions or brokers for instructions on how to participate in such plan.

About National Bank of Canada

With $577-billion in assets as at Oct. 31, 2025, National Bank of Canada is one of Canada's six systemically important banks. The bank has more than 35,000 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 its domestic operations. Its securities are listed on the Toronto Stock Exchange (symbol: NA).