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v3.24.0.1

Consolidated statement of changes in equity (Parenthetical) - GBP (£) £ in Millions, shares in Millions | 1 Months Ended | 12 Months Ended |
--- | --- | --- | ---
Jan. 31, 2024 | May 31, 2023 | Mar. 31, 2022 | Feb. 28, 2022 | Mar. 31, 2021 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Aug. 31, 2021
Own shares acquired/Shares repurchased | [1],[2] |  |  |  |  |  | £ 2,057.0 | £ 2,054.0 | £ 1,423.0 |  |
Consideration for shares repurchased |  |  |  |  |  |  | 2,416.0 | 2,054.0 | 1,806.0 |  |
Net (loss) gain as a result of significant movements in underlying actuarial assumptions |  |  |  |  |  |  | (776.0) |  |  |  |
Loss recognised on reclassification between equity and liabilities |  |  |  |  | £ 254.0 |  |  |  |  |  |
Notional amount of paid in equity notes reclassified to liabilities |  |  |  |  |  |  |  |  |  |  | £ 2,650.0
Issue of equity | [3] |  |  |  |  |  |  |  | 1,024.0 |  |
Equity |  |  |  |  |  |  | 37,188.0 | 36,496.0 | 41,803.0 | [4] |
Equity attributable to preference shareholders |  |  |  |  |  |  |  |  | 494.0 |  |
Main Pension Scheme |  |  |  |  |  |  |  |  |  |  |
Net (loss) gain as a result of significant movements in underlying actuarial assumptions |  |  |  |  |  |  | (585.0) |  |  |  |
Paid-in equity |  |  |  |  |  |  |  |  |  |  |
Issue of equity | [3] |  |  |  |  |  |  |  | 937.0 |  |
Equity |  |  |  |  |  |  | 3,890.0 | 3,890.0 | 3,890.0 | [4] |
Retained earnings |  |  |  |  |  |  |  |  |  |  |
Own shares acquired/Shares repurchased | [1],[2] |  |  |  |  |  | 2,057.0 | 2,054.0 | 1,423.0 |  |
Equity |  |  |  |  |  |  | 10,645.0 | 10,019.0 | 12,966.0 | [4] |
Ordinary share capital |  |  |  |  |  |  |  |  |  |  |
Issue of equity |  |  |  |  |  |  |  |  | 37.0 |  |
Share premium |  |  |  |  |  |  |  |  |  |  |
Issue of equity |  |  |  |  |  |  |  |  | 50.0 |  |
Other statutory |  |  |  |  |  |  |  |  |  |  |
Own shares acquired/Shares repurchased | [1],[2],[5] |  |  |  |  |  | (856.0) | (929.0) | (698.0) |  |
Capital redemption reserve |  |  |  |  |  |  | 2,507.0 | 1,651.0 | 722.0 |  |
Value of own shares held |  |  |  |  |  |  | 503.0 | 258.0 | 371.0 |  |
Equity | [5] |  |  |  |  |  | £ 2,004.0 | 1,393.0 | 351.0 | [4] |
UK Government Investments Ltd (UKGI) |  |  |  |  |  |  |  |  |  |  |
Purchase price per share |  |  | £ 2.684 | £ 2.205 |  | £ 1.905 |  |  |  |  |
Consideration for shares repurchased |  |  | £ 1,300.0 | £ 1,200.0 |  | £ 1,100.0 |  |  |  |  |
Number of treasury stock, shares cancelled |  |  |  |  |  |  | 336.2 |  |  |  |
Value of treasury shares cancelled |  |  |  |  |  |  | £ 906.9 |  |  |  |
Number of shares repurchased |  |  | 469.2 | 549.9 |  | 591.0 |  |  |  |  |
Own shares held |  |  |  |  |  |  | 133.0 |  |  |  |
Value of own shares held |  |  |  |  |  |  | £ 358.8 |  |  |  |
On Market Share Buyback Programme |  |  |  |  |  |  |  |  |  |  |
Consideration for shares repurchased |  |  |  |  |  |  | £ 1,151.7 | £ 829.3 | £ 676.2 |  |
Number of shares repurchased and cancelled |  |  |  |  |  |  | 460.3 | 379.3 | 310.8 |  |
On Market Share Buyback Programme | Settlement and cancellation of own shares |  |  |  |  |  |  |  |  |  |  |
Consideration for shares repurchased |  | £ 4.9 |  |  |  |  |  |  |  |  |
Number of shares repurchased and cancelled |  | 2.3 |  |  |  |  |  |  |  |  |
[1] | In May 2023, there was an agreement to buy 469.2 million (March 2022 – 549.9 million, March 2021 - 591.0 million) ordinary shares of the Company from UK Government Investments Ltd (UKGI) at 268.4 pence per share (March 2022 - 220.5 pence per share, March 2021 - 190.5 pence per share) for the total consideration of £1.3 billion (2022 - £1.2 billion, 2021 - £1.1 billion). NatWest Group cancelled 336.2 million of the purchased ordinary shares, amounting to £906.9 million excluding fees and held the remaining 133.0 million shares as Own Shares Held, amounting to £358.8 million excluding fees. The nominal value of the share cancellation has been transferred to the capital redemption reserve.
[2] | NatWest Group plc repurchased and cancelled 460.3 million (2022 – 379.3 million, 2021 - 310.8 million) shares, of which 2.3 million were settled in January 2024. The total consideration of these shares excluding fees was £1,151.7 million (2022 - £829.3 million, 2021 £676.2 million), of which £4.9 million were settled in January 2024, as part of the On Market Share Buyback Programmes. The nominal value of the share cancellations has been transferred to the capital redemption reserve.
[3] | There was an issue of shares in 2021. This is split between Ordinary share capital of £37 million and Share premium of £50 million.
[4] | In 2021, the Total equity balance of £41,803 million includes £494 million attributable to Preference shareholders.
[5] | Other statutory reserves consist of Capital redemption reserves of £2,507 million (2022 - £1,651 million, 2021 - £722 million) and Own shares held reserves of £503 million (2022 - £258 million, 2021 - £371 million)

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