EX-8.1 9 nwg-20231231xex8d1.htm EXHIBIT 8.1

Exhibit 8.1

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The principal subsidiaries of NatWest Group plc are:

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| Nature of business | Country of incorporation and principal area of operation | Group interest
National Westminster Bank Plc (1,3) | Banking | Great Britain | 100%
The Royal Bank of Scotland plc (3) | Banking | Great Britain | 100%
Coutts & Company (2,3) | Banking | Great Britain | 100%
NatWest Markets Plc | Banking | Great Britain | 100%
NatWest Markets N.V. (4) | Banking | Netherlands | 100%
The Royal Bank of Scotland International Limited (5) | Financial Institution | Jersey | 100%

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(1) | The parent company does not hold any of the preference shares in issue.

(2) | Coutts & Company is incorporated with unlimited liability.

(3) | Owned via NatWest Holdings Limited.

(4) | Owned via NatWest Markets Plc.

(5) | Owned via The Royal Bank of Scotland International (Holdings) Limited.

The above information is provided only in relation to subsidiary companies which would be deemed to be a “significant subsidiary” in accordance with rule 1-02(w) of Regulation S-X as at 31 December 2023.