NATIONWIDE BUILDING SOCIETY*

(the Society)

NOTICE

to the holders of the

£60,000,000 7.25% Permanent Interest Bearing Shares originally issued by Portman Building Society

(ISIN: GB0031049215)

(the PIBS)

NOTICE IS HEREBY GIVEN by the Society to the holders of the PIBS that, having obtained Relevant Supervisory Consent from the Prudential Regulation Authority in accordance with Condition 4(2) (Repayment) of the PIBS, the Society will repay the PIBS in full on 6 December 2021 (the first business day following the 5 December 2021 Reset Date) pursuant to Condition 4(2) (Repayment) of the PIBS.

The PIBS will be repaid at their principal amount, together with unpaid interest accrued to (but excluding) the repayment date.

Following redemption of the PIBS, (i) the PIBS will be cancelled and no further interest payments will be made and (ii) request will be made to the Financial Conduct Authority (the FCA) for the listing of the PIBS on the Official List of the FCA and the admission to trading on the regulated market of the London Stock Exchange to be cancelled.

Unless otherwise defined in this Notice, terms used in this Notice have the meanings given to them in the Special Conditions of the Issue of the PIBS (the Conditions, and references to a numbered Condition shall be read accordingly).

For further information, please contact:

Charlie Wood

Head of Financial Risk Strategy & Investor Relations

Telephone: +44 (0) 7500 999612

Email: Charles.Wood@nationwide.co.uk

Nationwide Building Society

The Post Building

Museum Street

London WC1A 1PB

* LEI: 549300XFX12G42QIKN82

Dated: 19 October 2021