Caution Regarding Forward-Looking Statements
Certain statements made in this press release regarding
the Bank’s intention to amend its normal course issuer bid are
forward-looking statements. These statements are made in
accordance with applicable securities legislation in Canada and
the United States. The Bank may also make forward-looking
statements in other documents and regulatory filings, as well as
orally. Such forward-looking statements are typically identified
by the use of verbs or verbal expressions such as “anticipate,”
“believe,” “estimate,” “project,” “plan,” “expect,” “intend,” by
the use of the future or conditional tense, including verbs such
as “will,” “should” and “may,” or by the use of other similar
terms or expressions.
These forward-looking statements are intended to help the
Bank’s shareholders understand the Bank’s financial position and
operating results as at the dates indicated and for the periods
then ended, as well as the Bank’s vision, strategic objectives
and performance targets, and may not be appropriate for other
purposes. These forward-looking statements are based on current
expectations, estimates, assumptions and intentions that the
Bank considers reasonable as at that date, and are subject to
inherent uncertainties and risks, many of which are beyond the
Bank’s control. There is a strong possibility that the Bank’s
explicit or implicit forecasts, projections, expectations or
conclusions will prove to be inaccurate, that its assumptions
will not be confirmed, and that its vision, strategic objectives
and performance targets will not be achieved. The Bank cautions
shareholders that these forward-looking statements are not
guarantees of future performance and that actual events or
results may differ materially from those expressed in or implied
by such forward-looking statements as a result of a number of
factors. Accordingly, the Bank recommends that readers not place
undue reliance on these forward-looking statements, as various
factors could cause actual results to differ materially from the
expectations, estimates or intentions expressed therein.
Shareholders and other persons relying on the Bank’s
forward-looking statements should carefully consider the factors
discussed below, as well as other uncertainties and potential events
and the risks associated with them. Unless required by law, the Bank
does not undertake to update any forward-looking statements, whether
written or oral, that may be made by or on its behalf from time to time.
The forward-looking statements contained in this document are
based on a number of assumptions and their future results are
subject to certain factors, many of which are beyond the Bank’s
control and whose effects are difficult to predict, including,
without limitation: general economic conditions and market
conditions in Canada, the United States and other countries in
which the Bank operates, including the risk of recession;
geopolitical and sociopolitical uncertainty; measures affecting
trade relations between Canada and its partners, including the
imposition of tariffs and retaliatory measures, and the
potential impacts on our clients, our operations and, more
broadly, the economy; fluctuations in foreign exchange rates and
interest rates; inflation; disruption of global supply chains;
rising funding costs and market volatility; changes in fiscal
and monetary policies and other public policies; regulatory
oversight and changes in regulations affecting the Bank’s
activities; the Bank’s ability to successfully integrate Canadian
Western Bank and any undisclosed costs or contingent liabilities
related to the acquisition; the possibility that the acquisition of
certain Laurentian Bank of Canada portfolios may not be completed,
or not completed on the expected timeline, and that the anticipated
benefits of the transaction may not be realized, or not within the
expected timeframe; climate change, including physical risks and
risks related to the transition to a low-carbon economy; stakeholder
engagement and the Bank’s ability to meet stakeholder expectations
with respect to environmental and social issues; the availability of
complete and high-quality information from our clients and other
third parties, including information on greenhouse gas emissions;
the Bank’s ability to identify climate-related opportunities and to
assess and manage climate-related risks; significant changes in
consumer behaviour; housing conditions, the real estate market and
household indebtedness in Canada; the Bank’s ability to deliver on
its key short-term priorities and long-term strategies; the timely
development and launch of new products and services; the Bank’s
ability to attract and retain key talent; technological innovation,
including open banking and the use of artificial intelligence;
increased competition from established institutions and
non-traditional service providers; model risk, and changes in the
performance and creditworthiness of the Bank’s clients and
counterparties; the Bank’s exposure to regulatory matters and
significant litigation; changes in the accounting policies and
methods used by the Bank to present its financial position,
including uncertainties related to assumptions and critical
accounting estimates; changes in tax legislation in the countries in
which the Bank operates; changes to capital, equity and liquidity
guidelines, as well as related disclosure and interpretation
guidance; changes in credit ratings assigned to the Bank by
financial and non-financial rating agencies; potential disruptions
affecting the Bank’s key suppliers of goods and services;
third-party risk, including the failure of third parties to meet
their obligations to the Bank; potential impacts of disruptions to
the Bank’s information technology systems, including as a result of
cyberattacks, data theft or disclosure, including personal
information, and identity theft; exposure to fraudulent activities;
and the possible impact of major events on the economy, market
conditions or the Bank’s outlook, including international conflicts,
natural disasters and public health emergencies, and measures taken
in response to such events; as well as the Bank’s ability to
anticipate and successfully manage the risks arising from the
foregoing factors. The foregoing list of risk factors is not
exhaustive, and the forward-looking statements contained in this
document are also subject to the risks described in the Risk
Management section of the 2025 Annual Report, as such risks may be
updated in subsequently filed quarterly shareholders’ reports.
About National Bank of Canada
With
$606 billion in assets as at January 31, 2026, National
Bank of Canada (the “Bank”) is one of Canada's six
systemically important banks. The Bank has more than 35,000
employees in knowledge-intensive positions and operates three
business segments in Canada: Personal and Commercial Banking, Wealth
Management and Capital 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.
