RNS Number: 6976U

National Bank of Canada

15 September 2026

Regulatory Announcement

Publication of Final Terms

The following Final Terms are available for viewing:

National Bank of Canada has agreed to issue U.S.$1,250,000,000 of 4.694% Covered Bonds due 15 September 2029 (the "Covered Bonds") pursuant to its CAD $20,000,000,000 Legislative Global Covered Bond Programme, unconditionally and irrevocably guaranteed as to payments by NBC Covered Bond (Legislative) Guarantor Limited Partnership (the "Programme").

The following document constitutes the final terms dated 10 September 2026 (the "Final Terms") relating to the issue of Covered Bonds for the purpose of Rule 2.3 of the Prospectus Rules: Admission to Trading on a Regulated Market sourcebook of the FCA Handbook made in accordance with the Public Offers and Admission to Trading Regulations 2024 and must be read in conjunction with the Prospectus dated 4 September 2026 (the "Prospectus"). Complete information on National Bank of Canada and the offering of Covered Bonds can only be obtained by reading the Final Terms together with the Prospectus.

UK MiFIR and MiFID II professional investors/ECPs only / No PRIIPs KID or UK CCI Product Summary - Manufacturer target market (UK MiFIR product governance and MiFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) or UK CCI Product Summary has been prepared as not available to retail in the EEA or UK.

The Final Terms have been submitted to the National Storage Mechanism and will shortly be available for inspection at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.          

To view the Final Terms in full, please paste the following URL into the address bar of your browser:

http://www.rns-pdf.londonstockexchange.com/rns/6976U_1-2026-9-14.pdf

For further information, please contact

Mélanie Viguié-Bilodeau

Managing Director, Term Funding, Treasury

National Bank of Canada

Telephone Number:  514-879-3726
Email:  [email protected]

DISCLAIMER - INTENDED ADDRESSEES

Please note that the information contained in the Final Terms (when read together with the information in the Prospectus) may be addressed to and/or targeted at persons who are residents of particular countries (specified in the Prospectus) only and is not intended for use and should not be relied upon by any person outside these countries and/or to whom the offer contained in the Prospectus and the Final Terms is not addressed.  Prior to relying on the information contained in the Prospectus and the Final Terms you must ascertain from the Prospectus and the Final Terms whether or not you are an intended addressee of the information contained therein.

The Covered Bonds and the Covered Bond Guarantee (as defined in the Prospectus) have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold within the United States or to or for the account or benefit of U.S. persons except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.  Accordingly, the Covered Bonds are being offered only (i) in offshore transactions to non-U.S. persons in reliance upon Regulation S under the Securities Act or (ii) to qualified institutional buyers in reliance upon Rule 144A under the Securities Act.

Your right to access this service is conditional upon complying with the above requirements.