National Bank of Canada closed offering of C$750M of institutional NVCC preferred shares

On September 22, 2026, National Bank of Canada ("National Bank") announced the closing of its previously announced offering of C$750 million of Non-Cumulative 5-Year Fixed Rate Reset First Preferred Shares, Series 52 (Non-Viability Contingent Capital (NVCC)) (the "Series 52 Preferred Shares"). The Series 52 Preferred Shares were offered by a group of agents led by National Bank Financial Inc. The Series 52 Preferred Shares were issued under a prospectus supplement dated September 15, 2026 to National Bank's short form base shelf prospectus dated September 2, 2026.

McCarthy Tétrault assisted National Bank with a team led by Patrick Boucher and Fraser Bourne that includes Stéphanie Beaudoin, Maria Chiara, Vincent Leduc, Annie Poirier-Simard (Corporate), Marie-Soleil Landry and Michel Ranger (Tax).