National Storage Mechanism | Additional information

Regulatory Announcement

RNS Number: 1209K

National Bank of Canada

December 3, 2025

2025 Management's Discussion and Analysis

National Bank of Canada (the "Bank") announces publication of its 2025 Annual Report, including the Management's Discussion and Analysis thereon (the "2025 MD&A"). The 2025 MD&A has been uploaded to the National Storage Mechanism and will shortly be available at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and is available on the Bank's website as part of the 2025 Annual Report at: https://www.nbc.ca/about-us/investors.html.

To view the full PDF of the 2025 MD&A, the 2025 Annual Report and the 2025 Annual CEO and CFO Certifications please click on the following link:

http://www.rns-pdf.londonstockexchange.com/rns/1209K_1-2025-12-3.pdf

http://www.rns-pdf.londonstockexchange.com/rns/1209K_2-2025-12-3.pdf

http://www.rns-pdf.londonstockexchange.com/rns/1209K_3-2025-12-3.pdf

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