An anonymous director reports

NATIONAL BANK INVESTMENTS ANNOUNCES THE ANNUAL REINVESTED DISTRIBUTION AMOUNTS FOR ITS NBI EXCHANGE-TRADED FUNDS

National Bank of Canada's National Bank Investments Inc. has declared annual reinvested capital gains and/or net income distribution amounts to be paid for 2023 to unitholders of NBI exchange-traded funds, as indicated in an attached table.

Unitholders of record on Dec. 29, 2023, will receive the reinvested distributions on Jan. 5, 2024. These distributions will be reinvested, and the resulting units will be immediately consolidated. The number of units held by each investor will not change, but the adjusted cost base of the units will increase according to the amounts reinvested. Investors holding their units outside of registered plans will therefore have taxable amounts to report.

These amounts are for the reinvested distributions only and do not include the continuing periodic cash distributions, which are the subject of a separate press release.

An attached table lists all NBI ETFs and the amounts of per-unit reinvested distributions.

About National Bank of Canada

With $424-billion in assets as at Oct. 31, 2023, National Bank, together with its subsidiaries, forms one of Canada's leading integrated financial groups. The bank has approximately 30,000 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to diversity.