National Bank of Canada (TSX: NA) today released a revision to its Supplementary Financial Information for the fiscal years ended October 31, 2024 and 2023 and related quarters.

Effective November 1, 2024 the Bank is discontinuing the presentation of revenues on a taxable equivalent basis (“TEB”).

The TEB presentation is less relevant following the introduction of the Pillar 2 rules (global minimum tax) in the first quarter of 2025 and of Bill C-59 regarding the taxation of certain Canadian dividends earlier in 2024. This change has no impact on Net income previously reported. The information for the fiscal years ended October 31, 2024 and 2023 and related quarters has been adjusted to reflect the change.

The revised Supplementary Financial Information is available on the Bank’s Investor Relations page at https://www.nbc.ca/about-us/investors/quarterly-results.html

Caution Regarding Forward-Looking Statements
Certain statements in this press release are forward-looking statements. These statements are based on a number of assumptions and are subject to risk factors, inherent risks and uncertainties, many of which are beyond the Bank's control and the impacts of which are difficult to predict. Except as required by law, National Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time, by it or on its behalf. The forward-looking information contained in this press release is presented for the purpose of interpreting the information contained herein and may not be appropriate for other purposes.

About National Bank of Canada
With $462 billion in assets as at October 31, 2024, National Bank of Canada is one of Canada's six systemically important banks. The Bank has approximately 30,000 employees in knowledge-intensive positions and operates through three business segments in Canada: Personal and Commercial Banking, Wealth Management and Financial Markets. A fourth segment, U.S. Specialty Finance and International, complements the growth of its domestic operations. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank’s activities at nbc.ca or via social media.

Information:

Marianne Ratté

Vice-President & Head, Investor Relations
National Bank of Canada

1-866-517-5455

Debby Cordeiro

Senior Vice President, Communications, Marketing, ESG
National Bank of Canada

514-412-0538