<SEC-DOCUMENT>0000950103-24-016170.txt : 20241112
<SEC-HEADER>0000950103-24-016170.hdr.sgml : 20241112
<ACCEPTANCE-DATETIME>20241112092506
ACCESSION NUMBER:		0000950103-24-016170
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20241111
FILED AS OF DATE:		20241112
DATE AS OF CHANGE:		20241112

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NatWest Group plc
		CENTRAL INDEX KEY:			0000844150
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMERCIAL BANKS, NEC [6029]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			X0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10306
		FILM NUMBER:		241444133

	BUSINESS ADDRESS:	
		STREET 1:		GOGARBURN
		STREET 2:		PO BOX 1000
		CITY:			EDINBURGH, SCOTLAND
		STATE:			X0
		ZIP:			EH12 1HQ
		BUSINESS PHONE:		441315568555

	MAIL ADDRESS:	
		STREET 1:		GOGARBURN
		STREET 2:		PO BOX 1000
		CITY:			EDINBURGH, SCOTLAND
		STATE:			X0
		ZIP:			EH12 1HQ

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ROYAL BANK OF SCOTLAND GROUP PLC
		DATE OF NAME CHANGE:	19950712
</SEC-HEADER>
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<TYPE>6-K
<SEQUENCE>1
<FILENAME>dp220573_6k.htm
<DESCRIPTION>FORM 6-K
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<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">UNITED STATES&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">FORM 6-K</P>

<P STYLE="font: bold 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13A-16 OR 15D-16 <BR>
OF THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">November 12, 2024</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">Commission
File Number 001-10306</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-indent: 43.55pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>NatWest Group plc</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>250 Bishopsgate,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>London,
EC2M 4AA<BR>
United Kingdom</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Address of principal executive
offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Indicate by check mark whether the registrant files
or will file annual reports under cover of Form 20-F or Form 40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 17.65pt 0pt 0.25in">&nbsp;</P>

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    <TD STYLE="width: 50%; padding-left: 10pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Form 20-F </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD>
    <TD STYLE="width: 50%; padding-left: 55.05pt; font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Form 40-F </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">This report on Form 6-K shall
be deemed incorporated by reference into the company&rsquo;s Registration Statement on Form F-3 (File No. 333-261837) and to be a part
thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>NatWest Group plc</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">11 November 2024</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><B>Off-market purchase of 262,605,042 ordinary
shares from His Majesty&rsquo;s Treasury (&ldquo;HM Treasury&rdquo;) </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">NatWest Group
plc (the &ldquo;Company&rdquo;) has agreed with HM Treasury to make an off-market purchase (the &ldquo;Off-Market Purchase&rdquo;) of
262,605,042 ordinary shares in the Company with a nominal value of </FONT>&pound;1.0769* <FONT STYLE="font-size: 10pt">each (&ldquo;Ordinary
Shares&rdquo;) at a price of 380.8 pence per Ordinary Share, being the closing price of the Ordinary Shares on the London Stock Exchange
on 8 November 2024. The total consideration for the Off-Market Purchase will be &pound;1 billion. </FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">Paul Thwaite, CEO of NatWest Group commented:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&ldquo;<I>As a result of NatWest Group&rsquo;s
continued strong performance, we are pleased to have today completed our second buy back of government shares of 2024, further reducing
HM Treasury&rsquo;s shareholding. </I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><I>This transaction represents another important
milestone on the path to full privatisation. We believe it is a positive use of capital for the bank and for our shareholders and we are
pleased with the sustained momentum in reducing HM Treasury&rsquo;s stake in NatWest Group throughout this year.&rdquo;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The purchased Ordinary Shares represent 3.16
per cent of the Company&rsquo;s issued Ordinary Share capital (excluding treasury shares). The Off-Market Purchase is expected to settle
on 13 November 2024.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">A contract (the &ldquo;Directed Buyback Contract&rdquo;)
between the Company and HM Treasury was approved by the shareholders of the Company at a General Meeting held on 6 February 2019 and signed
on 7 February 2019. Amendments to the Directed Buyback Contract were approved by the shareholders of the Company at a General Meeting
held on 25 August 2022 and signed on 17 November 2022 and at the Annual General Meeting held on 23 April 2024 (the &ldquo;2024 AGM&rdquo;)
and signed on 7 May 2024. The authority from shareholders to make off-market purchases of Ordinary Shares from HM Treasury (or its nominee)
under the terms of the Directed Buyback Contract was renewed at the 2024 AGM.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The Company intends to cancel all of the purchased
Ordinary Shares.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">HM Treasury is a related party to the Company
and the Off-Market Purchase, when aggregated with the other transactions referred to in this announcement, constitutes a related party
transaction under UK Listing Rule 8.2.1R and this announcement is therefore being made in accordance with that rule. Pursuant to the changes
to the Listing Rules which came into effect on 29 July 2024, the Board of the Company (the &ldquo;Board&rdquo;) confirms its view that
the Off-Market Purchase is fair and reasonable as far as the shareholders of the Company are concerned and that the Board has been so
advised by Merrill Lynch International, a sponsor to the Company.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The following transactions or arrangements
between the Company and HM Treasury have taken place in the last 12 months and were related party transactions for the purposes of UK
Listing Rule 8.2.1R.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding: 4pt 6pt 4pt 4pt; width: 51%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-size: 10pt">Description</FONT></TD>
    <TD STYLE="padding: 4pt; width: 49%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-size: 10pt">Value</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 4pt 6pt 4pt 4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Off-market
    purchase by the Company of shares from HM Treasury, as announced on 31 May 2024 <FONT STYLE="color: Blue"><U>Off-Market Purchase
    of Ordinary Shares from HMT (investis.com)</U></FONT></FONT></TD>
    <TD STYLE="padding: 4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&pound;1,240,921,312.75</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding: 4pt 6pt 4pt 4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Agreement for the Company to cover costs incurred and to be incurred by HM Treasury and UK Government Investments on behalf of HM Treasury in connection with HM Treasury&rsquo;s holding of Ordinary Shares in the Company and its disposal of such shares </FONT></TD>
    <TD STYLE="padding: 4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Up to &pound;19,000,000</FONT></TD></TR>
  </TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Upon settlement of the above transaction:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">the Company will hold 287,667,803 of its Ordinary
Shares as treasury shares; </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">the Company will have in issue 8,043,477,072
Ordinary Shares (excluding treasury shares) and 483,140 Cumulative Preference Shares of &pound;1; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">-</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">HM Treasury will hold approximately 12.03**
per cent. of the Company&rsquo;s voting rights. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">The Company continues to target a CET1 ratio
in the range of 13-14%.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; background-color: white; color: rgb(17,17,17)">*The
nominal value of Ordinary Shares without rounding is &pound;1.076923076923077 per share</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #111111">&nbsp;</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">** This number is based on the Company&rsquo;s most recent TR-1 notification
of major shareholdings on 31 October 2024 in respect of HM Treasury&rsquo;s shareholding notification dated 30 October 2024 and does not
take into account any sales executed by HM Treasury since the notification date.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Further information:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Investor Relations</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">+ 44 (0)207 672 1758</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">Media Relations</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">+44 (0)131 523 4205</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Legal Entity
Identifier: 2138005O9XJIJN4JPN90</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><B>Forward-looking statements </B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This document
may include forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995, such
as statements that include, without limitation, the words &lsquo;deliver&rsquo;, &lsquo;ambition&rsquo;, &lsquo;expect&rsquo;, &lsquo;estimate&rsquo;,
&lsquo;project&rsquo;, &lsquo;anticipate&rsquo;, &lsquo;commit&rsquo;, &lsquo;believe&rsquo;, &lsquo;should&rsquo;, &lsquo;intend&rsquo;,
&lsquo;will&rsquo;, &lsquo;plan&rsquo;, &lsquo;could&rsquo;, &lsquo;probability&rsquo;, &lsquo;risk&rsquo;, &lsquo;target&rsquo;, &lsquo;goal&rsquo;,
&lsquo;objective&rsquo;, &lsquo;may&rsquo;, &lsquo;endeavour&rsquo;, &lsquo;outlook&rsquo;, &lsquo;optimistic&rsquo;, &lsquo;prospects&rsquo;
and similar expressions or variations on these expressions. These statements concern or may affect future matters, such as NatWest Group's
future economic results, business plans and strategies. In particular, this document may include forward-looking statements relating to
NatWest Group plc in respect of, but not limited to: its outlook, guidance and targets (including in relation to RoTE, income, operating
costs, loan impairment rate, CET1 ratio, RWA levels, payment of dividends and participation in directed buybacks), its expectations in
relation to the Off-Market Purchase settlement date and its intentions in respect of the Ordinary Shares</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">(including the number of outstanding Ordinary Shares, and their reissuance
or cancellation), its economic and political risks, its financial position, profitability and financial performance, the implementation
of its strategy, and HMT&rsquo;s voting rights percentage. Forward-looking statements are subject to a number of risks and uncertainties
that might cause actual results and performance to differ materially from any expected future results or performance expressed or implied
by the forward-looking statements. Factors that could cause or contribute to differences in current expectations include, but are not
limited to, future growth initiatives (including acquisitions, joint ventures and strategic partnerships), the outcome of legal, regulatory
and governmental actions and investigations, the level and extent of future impairments and write-downs, legislative, political, fiscal
and regulatory developments, accounting standards, competitive conditions, technological developments, interest and exchange rate fluctuations,
general economic and political conditions and uncertainties (such as the direct and indirect impacts of escalating armed conflicts) and
the impact of climate-related risks and the transitioning to a net zero economy. These and other factors, risks and uncertainties that
may impact any forward-looking statement or NatWest Group plc's actual results are discussed in NatWest Group plc's 2023 Annual Report
on Form 20-F, NatWest Group plc&rsquo;s Interim Management Statement for Q1, Q3 and H1 2024 on Form 6-K, and its other public filings.
The forward-looking statements contained in this document speak only as of the date of this document and NatWest Group plc does not assume
or undertake any obligation or responsibility to update any of the forward-looking statements contained in this document, whether as a
result of new information, future events or otherwise, except to the extent legally required. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 55.3pt 0pt 62.25pt; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 55.3pt 0pt 62.25pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt">Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on behalf by the undersigned, thereunto duly
authorized.</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 256.6pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-left: 10pt">&nbsp;</TD>
    <TD COLSPAN="2"><P STYLE="margin-top: 0; margin-bottom: 0"><B>NatWest Group plc</B></P>

<P STYLE="margin-top: 0; margin-bottom: 0">(Registrant)</P>

</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-left: 10pt">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-size: 10pt">Date: November 12, 2024</TD>
    <TD STYLE="width: 5%; padding-left: 10pt; font: 10pt Times New Roman, Times, Serif"></TD>
    <TD STYLE="width: 4%">By:</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 41%"><FONT STYLE="font-size: 10pt">/s/ Mark Stevens</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>Name:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Mark Stevens</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD>Title:</TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt; font-family: Times New Roman, Times, Serif">Mark
Stevens</FONT></FONT></TD></TR>
  </TABLE>

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