Caution Regarding Forward-Looking Statements
Certain
statements in this press release regarding the 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. These
forward-looking statements are typically identified by verbs or
words such as “outlook”, “believe”, “foresee”, “forecast”,
“anticipate”, “estimate”, “project”, “expect”, “intend” and “plan”,
the use of future or conditional forms, notably verbs such as
“will”, “may”, “should”, “could” or “would”, as well as similar
terms and expressions. These forward-looking statements are intended
to assist the security holders of the Bank in understanding the
Bank’s financial position and results of operations 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 deems reasonable as at the date thereof and
are subject to uncertainty and risks, many of which are beyond the
Bank’s control. There is a strong possibility that the Bank’s
express or implied predictions, forecasts, projections,
expectations, or conclusions will not prove to be accurate, that its
assumptions will not be confirmed, and that its vision, strategic
objectives, and performance targets will not be achieved. The Bank
cautions investors that these forward-looking statements are not
guarantees of future performance and that actual events or results
may differ materially from the expectations, estimates, or
intentions expressed in these forward-looking statements due to a
number of factors. Therefore, the Bank recommends that readers not
place undue reliance on these forward-looking statements. Investors
and others who rely on the Bank’s forward-looking statements should
carefully consider the factors listed below as well as other
uncertainties and potential events and the risks they entail. Except
as required by law, the 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 statements made in this press release are based
on a number of assumptions and their future outcome is subject to a
variety of factors, many of which are beyond the Bank's control and
the impacts of which are difficult to predict. These risk factors
include, among others, the general economic environment and business
and financial market conditions in Canada, the United States, and the
other countries where the Bank operates, including recession risk;
geopolitical and sociopolitical uncertainty; the measures affecting
trade relations between Canada and its partners, including the
imposition of tariffs and any measures taken in response to such
tariffs, as well as the possible impacts on our clients, our
operations and, more generally, the economy; exchange rate and
interest rate fluctuations; inflation; global supply chain
disruptions; higher funding costs and greater market volatility;
changes to fiscal, monetary, and other public policies; regulatory
oversight and changes to regulations that affect the Bank’s business;
the Bank’s ability to successfully integrate CWB and the undisclosed
costs or liabilities associated with the acquisition; the possibility
that the acquisition of certain LBC portfolios may not happen, or not
at the expected time, and that the expected 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; stakeholders engagement and the
Bank’s ability to meet their expectations on environmental and social
issues; the availability of comprehensive and high-quality information
from customers and other third parties, including on greenhouse gas
emissions; the ability of the Bank to identify climate-related
opportunities as well as to assess and manage climate-related risks;
significant changes in consumer behaviour; the housing situation, the
real estate market, and household indebtedness in Canada; the Bank’s
ability to achieve its key short-term priorities and long-term
strategies; the timely development and launch of new products and
services; the ability of the Bank to recruit and retain key personnel;
technological innovation, including open banking and the use of
artificial intelligence; heightened competition from established
companies and from competitors offering non-traditional services;
model risk; changes in the performance and creditworthiness of the
Bank’s clients and counterparties; the Bank’s exposure to significant
regulatory issues or litigation; changes made to the accounting
policies used by the Bank to report its financial position, including
the uncertainty related to assumptions and significant accounting
estimates; changes to tax legislation in the countries where the Bank
operates; changes to capital and liquidity guidelines as well as to
the instructions related to the presentation and interpretation
thereof; changes to the credit ratings assigned to the Bank by
financial and extra-financial rating agencies; potential disruptions
to key suppliers of goods and services to the Bank; third-party risk,
including failure by third parties to fulfil their obligations to the
Bank; the potential impacts of disruptions to the Bank’s information
technology systems due to cyberattacks and theft or disclosure of
data, including personal information and identity theft; the risk of
fraudulent activity; the possible impacts of major events on the
economy, market conditions, or the Bank's outlook, including
international conflicts, natural disasters, public health crises, and
the measures taken in response to these events; and the ability of the
Bank to anticipate and successfully manage risks arising from all of
the foregoing factors. The foregoing list of risk factors is not
exhaustive, and the forward-looking statements made in this press
release are also subject to risks detailed in the Risk Management
section of the 2025 Annual Report as well as in the Risk Management
section of the Report to Shareholders for the third quarter of 2026
and may be updated in the quarterly reports to shareholders filed thereafter.
About National Bank of Canada
With $635 billion in
assets as at July 31, 2026, National Bank of
Canada is one of Canada's six systemically important banks. The
Bank has more than 37,000 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.
