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National Bank Holdings Corp — suppack q1 2026 (company IR deck)
National Bank Holdings Corp (NBHC) · 34 slides · Filed Oct 27, 2026
Every slide of this earnings presentation, with the text as published. Open the original deck ↗ · All NBHC deck slides
Slide 1
Slide 2 — Notes to users
Notes to users 1) This supplementary financial information (SFI) is unaudited and should be read in conjunction with the Report to Shareholders for all quarters of 2026 and with the 2025 Annual Report (including audited consolidated financial statements and accompanying management’s discussion and analysis) prepared in accor dance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), unless o therwise indicated. IFRS represent Canadian generally accepted accou nting principles (GAAP). Additional financial information is also available through our quarterly investor presentations as w ell as the quarterly conference call webcast. All amounts are in millions of Canadians dollars, unless otherwise indicated. 2) Information related to regulatory capital as well as Pillar 3 and risk disclosures required by the Enhanced Disclosure Task F orce (EDTF) is provided in the document entitled Supplementary Regulatory Capital and Pillar 3 Disclosure , which is available on the Bank’s website at nbc.ca . 3) On February 3, 2025, the Bank completed the acquisition of Canadian Western Bank (CWB). CWB’s results were consolidated from the closing date, which impacted the results, balances and ratios for the quarters ended January 31, 2026, October 31, 2025, July 31, 2025 and April 30, 2025 in t he Personal and Commercial, Wealth Management, and Capital Markets segments and in the Other heading of the segment disclosures. For additional information on the impact of CWB acquisition, see the Acquisition section in the Report to Shareholders for the First Quarter of 2026 and in the 2025 Annual Report . 4) Non-GAAP Financial Measures and Other Financial Measures The Bank uses non -GAAP financial measures that do not have standardized meanings under GAAP and that therefore may not be comparable to similar measures used by other companies. Presenting non -GAAP financial measures helps readers to better understand how management analyzes results, shows the impacts of specified it ems on the results of the reported periods, and allows readers to better assess results without the specified items if they consi der such items not to be reflective of the underlying performance of the Bank’s operations. For additional information on non -GAAP financial measures, see pages 15 and 16 in this document and the Financial Reporting Method section on pages 6 to 12 in the Report to Shareholders for the First Quarter of 2026, which is available on the Bank's website at nbc.ca or the SEDAR+ website at sedarplus.ca . Other Financial Measures For additional information on the composition of non -GAAP ratios and supplementary financial measures, as well as on capital management measures, see the Financial Reporting Method and Glossary sections on pages 6 to 12 and 49 to 52, respectively, in the Report to Shareholders for the Fir st Quarter of 2026, which is available on the Bank's website at nbc.ca or the SEDAR+ website at sedarplus.ca .
Slide 3 — Table of Contents
Table of Contents Highlights page 4 Shareholders' Information page 5 Detailed Information on Income page 6 Selected Average Balance Sheet Items; Net Interest Margin; AUA & AUM page 7 Segment Disclosures Personal and Commercial (P&C) page 8 Wealth Management (WM) page 9 Capital Markets (CM) page 10 U.S. Specialty Finance and International (USSF&I) pages 11 -13 Other page 14 Reconciliation of Non -GAAP Financial Measures page 15 Specified Items page 16 Return on Common Shareholders' Equity by Business Segment page 17 Total Revenues – Reported as per IFRS page 18 Total Revenues – Adjusted page 19 Non-interest Expenses page 20 Consolidated Balance Sheets page 21 Consolidated Statements of Changes in Equity page 22 Consolidated Statements of Comprehensive Income page 23 Credit Information Gross Loans, Gross Impaired Loans and Allowances for Credit Losses by Borrower Category pages 24 -25 Residential Mortgages Portfolios Information pages 26 -27 Geographic Distribution of Gross Loans, Gross Impaired Loans and Allowances for Credit Losses page 28 Impaired Loans by Business Segment page 29 Formation of Gross Impaired Loans Excluding Credigy's POCI loans page 30 Reconciliation of Allowance for Credit Losses page 31 Provisions for Credit Losses page 32 Derivatives Financial Instruments According to Basel Definition page 33 Over the Counter Derivatives Financial Instruments Settled by Central Counterparties page 34
Slide 4 — Highlights
National Bank of Canada – Supplementary Financial Information 4 Highlights (millions of Canadian dollars, except as noted) 2026 2025 2024 YTD Full Year Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 2026 2025 2025 2024 Net income 1,254 1,059 1,065 896 997 955 1,033 906 922 1,254 997 4,017 3,816 Earnings per share - Basic 3.12 2.60 2.61 2.19 2.81 2.69 2.92 2.56 2.61 3.12 2.81 10.18 10.78 - Diluted 3.08 2.57 2.58 2.17 2.78 2.66 2.89 2.54 2.59 3.08 2.78 10.07 10.68 Return on common shareholders' equity (1) 15.7% 13.3% 13.6% 11.9% 16.7% 16.4% 18.4% 16.9% 17.1% 15.7% 16.7% 13.7% 17.2% Operating leverage (1) 0.1 % (5.5)% (9.8)% 0.8% 3.9% 15.3 % 10.5 % 4.3 % 1.6 % 0.1 % 3.9% (2.9)% 8.1 % Efficiency ratio (1) 51.7% 56.4% 55.8% 53.2% 51.7% 54.1% 51.4% 53.5% 53.5% 51.7% 51.7% 54.4% 53.1% Operating Results – Adjusted (2) Net income – Adjusted (2) 1,320 1,159 1,104 1,166 1,050 928 960 906 922 1,320 1,050 4,479 3,716 Earnings per share – Adjusted (2) - Basic 3.29 2.85 2.71 2.88 2.96 2.61 2.71 2.56 2.61 3.29 2.96 11.40 10.49 - Diluted 3.25 2.82 2.68 2.85 2.93 2.58 2.68 2.54 2.59 3.25 2.93 11.28 10.39 Return on common shareholders' equity – Adjusted (3) 16.6% 14.6% 14.1% 15.6% 17.6% 15.9% 17.0% 16.9% 17.1% 16.6% 17.6% 15.3% 16.7% Operating leverage (1) – Adjusted (3) 2.0% 4.4% 1.7% 10.4% 7.4% 4.9% 9.2 % 4.3 % 1.6 % 2.0% 7.4 % 5.9% 4.9 % Efficiency ratio (1) – Adjusted (3) 49.3% 52.7% 52.4% 49.3% 50.2% 54.6% 53.1% 53.5% 53.5% 49.3% 50.2% 51.2% 53.7% Total assets 605,871 576,919 552,621 536,194 483,833 462,226 453,933 441,690 433,927 605,871 483,833 576,919 462,226 Average loans (4)(5) 302,759 296,809 288,309 284,845 244,706 239,819 236,990 231,691 228,161 302,759 244,706 278,616 234,180 Average assets (4) 603,457 583,295 567,070 551,432 488,208 469,795 461,504 455,036 442,666 603,457 488,208 547,469 457,262 Number of common shares outstanding (thousands) 388,318 391,066 391,967 391,322 341,085 340,744 340,523 340,056 339,166 388,318 341,085 391,066 340,744 Weighted average basic number of common shares outstanding (thousands) 390,047 391,886 391,609 390,124 340,739 340,479 340,215 339,558 338,675 390,047 340,739 378,495 339,733 Weighted average diluted number of common shares outstanding (thousands) 394,743 396,532 395,919 393,878 344,954 344,453 343,531 342,781 341,339 394,743 344,954 382,478 342,839 Gross impaired loans excluding the Credigy's purchased or originated credit -impaired (POCI) loans (2)(6) 3,397 3,324 2,992 2,805 1,967 1,652 1,426 1,267 1,103 3,397 1,967 3,324 1,652 Gross impaired loans excluding Credigy's POCI loans as a % of total loans (3)(6)(7) 1.11% 1.09% 1.02% 0.98% 0.79% 0.68% 0.59% 0.54% 0.48% 1.11% 0.79% 1.09% 0.68% Provisions for credit losses on impaired loans excluding Credigy's POCI loans as a % of average loans (3)(5)(6) 0.28% 0.28% 0.21% 0.32% 0.32% 0.24% 0.21% 0.20% 0.17% 0.28% 0.32% 0.28% 0.20% Provisions for credit losses (PCL) as a % of average loans (1)(5)(8) 0.32% 0.33% 0.28% 0.79% 0.41% 0.27% 0.25% 0.24% 0.21% 0.32% 0.41% 0.45% 0.24% Net charge -off excluding Credigy's POCI loans as a % of average loans (3)(5)(6) 0.15% 0.14% 0.17% 0.06% 0.17% 0.17% 0.09% 0.24% 0.15% 0.15% 0.17% 0.14% 0.16% Dividends declared per common share 1.24 1.18 1.18 1.14 1.14 1.10 1.10 1.06 1.06 1.24 1.14 4.64 4.32 Dividend payout ratio (1) (trailing 4 quarters) 45.1% 45.6% 44.3% 42.2% 40.1% 40.1% 41.6% 43.2% 43.1% 45.1% 40.1% 45.6% 40.1% Dividend payout ratio (1) – Adjusted (trailing 4 quarters) (3) 40.4% 40.7% 40.9% 40.1% 40.6% 41.2% 41.2% 42.5% 42.4% 40.4% 40.6% 40.7% 41.2% Book value per common share (1) 78.81 78.39 77.20 76.13 68.15 65.74 64.64 62.28 61.18 78.81 68.15 78.39 65.74 Share price - High 175.57 156.70 144.96 127.44 140.76 134.23 118.17 114.68 103.38 175.57 140.76 156.70 134.23 Share price - Low 156.88 143.40 121.09 107.01 128.79 111.98 106.21 101.24 86.50 156.88 128.79 107.01 86.50 Share price - Close 162.25 156.70 144.13 121.08 128.99 132.80 115.48 110.54 102.83 162.25 128.99 156.70 132.80 Capital ratios under Basel III (9) Common Equity Tier 1 (CET1) (9) 13.7% 13.8% 13.9% 13.4% 13.6% 13.7% 13.5% 13.2% 13.1% 13.7% 13.6% 13.8% 13.7% Tier 1(9)(10)(11) 15.1% 15.1% 15.6% 15.1% 15.5% 15.9% 15.7% 15.5% 15.5% 15.1% 15.5% 15.1% 15.9% Total (9)(10)(11) 17.3% 17.3% 17.8% 16.9% 17.1% 17.0% 16.9% 16.7% 16.2% 17.3% 17.1% 17.3% 17.0% Leverage ratio under Basel III (9)(10)(11) 4.3% 4.5% 4.7% 4.7% 4.3% 4.4% 4.4% 4.4% 4.3% 4.3% 4.3% 4.5% 4.4% TLAC ratio (9) 32.5% 29.7% 30.0% 28.2% 31.2% 31.2% 29.7% 30.2% 28.1% 32.5% 31.2% 29.7% 31.2% TLAC leverage ratio (9) 9.2% 8.8% 9.0% 8.8% 8.7% 8.6% 8.3% 8.5% 7.8% 9.2% 8.7% 8.8% 8.6% Liquidity coverage ratio (LCR) (9) 189% 173% 161% 166% 154% 150% 152% 155% 145% 189% 154% 173% 150% Net stable funding ratio (NSFR) (9) 120% 124% 123% 127% 123% 122% 120% 120% 117% 120% 123% 124% 122% (1) For details on the composition of these measures, see the Glossary section in the Report to Shareholders for the First Qu arter of 2026, which is available on the Bank's website at nbc.ca or the SEDAR+ website at sedarplus.ca . (2) For additional information on non -GAAP financial measures, see pages 15 and 16 in this document and the Financial Reporting Method section in the Report to Sha reholders for the First Quarter of 2026, which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca . (3) For additional information on non -GAAP ratios, see the Financial Reporting Method section in the Report to Shareholders for the First Quarter of 2026, which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca . (4) Represents an average of the daily balances for the period. (5) Including customer's liability under acceptances for the quarters of 2024. (6) The presentation was changed in Q2 2025 and the comparative figures were not adjusted to reflect the change as the amount s were not considered significant. Prior Q2 2025, the amounts also excluded POCI loans acquired from Silicon Valley Bank's Ca nadian branch (SVB) in Q4 2023 (Q1 2025: $21 million, Q4 2024: $26 million, Q3 2024: $31 million, Q2 2024: $34 million and Q1 2024: $39 million), PCL on SVB’s POCI loans (Q1 2025: $1 million, Q4 2024: $(1) million, Q3 2024: $1 million, Q2 2024: $(3) million and Q1 2024: $(11) million), net charge -off on SVB’s POCI loans (Q1 2025: $2 million, Q4 2024: $1 million,Q3 2024: $ -million, Q2 2024: $4 million and Q1 2024: $13 million). (7) Including customers liability under acceptances for the quarters of 2024 (except Q4 2024). (8) For Q2 2025, the ratio included initial provisions for credit losses of $230 million on performing loans acquired from CW B. (9) For additional information on capital management measures, see the Financial Reporting Method section in the Report to Sh areholders for the First Quarter of 2026, which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca . (10) Ratios as at January 31, 2025 included the redemption of the Series 32 preferred shares completed on February 17, 2025. (11) Ratios as at October 31, 2025 included the redemption of the Limited Recourse Capital Notes Series 1 completed on Novemb er 17, 2025.
Slide 5 — Shareholders’ Information
National Bank of Canada – Supplementary Financial Information 5 Shareholders’ Information 2026 2025 2024 Credit Rating - Long -term senior debt Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Non bail -inable Moody's Aa2 Aa2 Aa2 Aa2 Aa2 Aa3 Aa3 Aa3 Aa3 Standard & Poor's A+ A+ A+ A+ A+ A+ A A A DBRS AA AA AA AA AA AA AA AA AA Fitch AA- AA- AA- AA- AA- AA- AA- AA- AA- Bail -in Moody's A2 A2 A2 A2 A2 A3 A3 A3 A3 Standard & Poor's A- A- BBB+ BBB+ BBB+ BBB+ BBB+ BBB+ BBB+ DBRS AA (Low) AA (Low) AA (Low) AA (Low) AA (Low) AA (Low) AA (Low) AA (Low) AA (Low) Fitch A+ A+ A+ A+ A+ A+ A+ A+ A+ Valuation Market capitalization (millions of Canadian dollars) 63,005 61,280 56,494 47,381 43,997 45,251 39,324 37,590 34,876 P/E Ratio (trailing 4 quarters) 15.60 15.51 14.14 11.53 11.87 12.43 11.42 11.57 11.00 Share price/Book value 2.06 2.00 1.87 1.59 1.89 2.02 1.79 1.77 1.68 Dividend yield (annualized) 2.92% 2.96% 3.16% 3.70% 3.41% 3.25% 3.67% 3.76% 3.96% Other Information Number of employees (full -time equivalent) Canada 21,814 21,865 22,046 21,847 19,094 18,867 19,030 18,694 18,667 Outside of Canada 11,713 11,335 10,790 10,524 10,414 10,329 10,220 9,971 10,063 33,527 33,200 32,836 32,371 29,508 29,196 29,250 28,665 28,730 Number of branches Canada 374 382 393 395 362 368 369 369 368 Cambodia (ABA Bank) 105 103 101 99 99 99 95 95 94 Number of banking machines Canada 921 939 952 965 937 940 946 939 945 Cambodia (ABA Bank) 1,794 1,753 1,709 1,663 1,630 1,599 1,594 1,535 1,494
Slide 6 — Detailed Information on Income
National Bank of Canada – Supplementary Financial Information 6 Detailed Information on Income (millions of Canadian dollars, except as noted) 2026 2025 2024 YTD Full Year Consolidated Results – Reported as per IFRS Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 2026 2025 2025 2024 Net interest income 1,394 1,169 1,172 1,205 972 784 769 635 751 1,394 972 4,518 2,939 Non -interest income 2,499 2,529 2,277 2,445 2,211 2,160 2,227 2,115 1,959 2,499 2,211 9,462 8,461 Total revenues 3,893 3,698 3,449 3,650 3,183 2,944 2,996 2,750 2,710 3,893 3,183 13,980 11,400 Non -interest expenses 2,011 2,087 1,925 1,942 1,646 1,592 1,541 1,472 1,449 2,011 1,646 7,600 6,054 Income before provisions for credit losses and income taxes 1,882 1,611 1,524 1,708 1,537 1,352 1,455 1,278 1,261 1,882 1,537 6,380 5,346 PCL - Impaired 215 211 150 219 196 145 122 114 99 215 196 776 480 PCL - Performing 25 29 51 315 57 14 25 22 30 25 57 452 91 PCL - Credigy's POCI loans (1) 4 4 2 11 1 3 2 2 (9) 4 1 18 (2) Provisions for credit losses 244 244 203 545 254 162 149 138 120 244 254 1,246 569 Income before income taxes 1,638 1,367 1,321 1,163 1,283 1,190 1,306 1,140 1,141 1,638 1,283 5,134 4,777 Income taxes 384 308 256 267 286 235 273 234 219 384 286 1,117 961 Net income 1,254 1,059 1,065 896 997 955 1,033 906 922 1,254 997 4,017 3,816 Non -controlling interests − − − − − − − (1) − − − − (1) Net income attributable to the Bank's shareholders and holders of other equity instruments 1,254 1,059 1,065 896 997 955 1,033 907 922 1,254 997 4,017 3,817 Dividends on preferred shares and distributions on other equity instruments 37 41 42 43 39 40 40 37 37 37 39 165 154 Net income attributable to common shareholders 1,217 1,018 1,023 853 958 915 993 870 885 1,217 958 3,852 3,663 Effective tax rate 23.4% 22.5% 19.4% 23.0% 22.3% 19.7% 20.9% 20.5% 19.2% 23.4% 22.3% 21.8% 20.1% Dividends on common shares 484 463 463 448 389 374 374 361 359 484 389 1,763 1,468 Number of common shares (Average -Diluted) (thousands) 394,743 396,532 395,919 393,878 344,954 344,453 343,531 342,781 341,339 394,743 344,954 382,478 342,839 Diluted earnings per share 3.08 2.57 2.58 2.17 2.78 2.66 2.89 2.54 2.59 3.08 2.78 10.07 10.68 Operating Results – Adjusted (2) Net interest income – Adjusted 1,394 1,169 1,172 1,205 1,000 793 774 635 751 1,394 1,000 4,546 2,953 Non -interest income – Adjusted 2,499 2,529 2,277 2,445 2,230 2,102 2,114 2,115 1,959 2,499 2,230 9,481 8,290 Total revenues – Adjusted 3,893 3,698 3,449 3,650 3,230 2,895 2,888 2,750 2,710 3,893 3,230 14,027 11,243 Non -interest expenses – Adjusted 1,920 1,949 1,806 1,800 1,620 1,581 1,534 1,472 1,449 1,920 1,620 7,175 6,036 Income before provisions for credit losses and income taxes – Adjusted 1,973 1,749 1,643 1,850 1,610 1,314 1,354 1,278 1,261 1,973 1,610 6,852 5,207 PCL - Impaired 215 211 150 219 196 145 122 114 99 215 196 776 480 PCL - Performing – Adjusted 25 29 51 85 57 14 25 22 30 25 57 222 91 PCL - Credigy's POCI loans (1) 4 4 2 11 1 3 2 2 (9) 4 1 18 (2) Provisions for credit losses – Adjusted 244 244 203 315 254 162 149 138 120 244 254 1,016 569 Income before income taxes – Adjusted 1,729 1,505 1,440 1,535 1,356 1,152 1,205 1,140 1,141 1,729 1,356 5,836 4,638 Income taxes – Adjusted 409 346 336 369 306 224 245 234 219 409 306 1,357 922 Net income – Adjusted 1,320 1,159 1,104 1,166 1,050 928 960 906 922 1,320 1,050 4,479 3,716 Non -controlling interests − − − − − − − (1) − − − − (1) Net income attributable to the Bank's shareholders and holders of other equity instruments – Adjusted 1,320 1,159 1,104 1,166 1,050 928 960 907 922 1,320 1,050 4,479 3,717 Dividends on preferred shares and distributions on other equity instruments 37 41 42 43 39 40 40 37 37 37 39 165 154 Net income attributable to common shareholders – Adjusted 1,283 1,118 1,062 1,123 1,011 888 920 870 885 1,283 1,011 4,314 3,563 Effective tax rate – Adjusted 23.7% 23.0% 23.3% 24.0% 22.6% 19.4% 20.3% 20.5% 19.2% 23.7% 22.6% 23.3% 19.9% Diluted earnings per share – Adjusted 3.25 2.82 2.68 2.85 2.93 2.58 2.68 2.54 2.59 3.25 2.93 11.28 10.39 (1) The presentation was changed in Q2 2025 and the comparative figures were not adjusted to reflect the change as the amount s were not considered significant. Prior Q2 2025, the amounts also included PCL on POCI loans acquired from SVB in Q42023 (Q1 2025: $1 million, Q4 2024: $(1) million, Q3 2024: $1 million, Q2 2024: $(3) million and Q1 2024: $(11) million). (2) For additional information on non -GAAP financial measures, see pages 15 and 16 in this document and the Financial Reporting Method section in the Report to Sha reholders for the First Quarter of 2026, which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca .
Slide 7 — Selected Average Balance Sheet Items; Net Interest Margin; AUA & AUM
National Bank of Canada – Supplementary Financial Information 7 Selected Average Balance Sheet Items; Net Interest Margin; AUA & AUM (millions of Canadian dollars, except as noted) 2026 2025 2024 YTD Full Year Selected Average Consolidated Balance Sheet Items Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 2026 2025 2025 2024 Average securities (1) 202,591 193,992 190,971 179,041 162,869 153,989 149,372 145,528 138,726 202,591 162,869 181,741 146,911 Average securities purchased under reverse repurchase agreements and securities borrowed (1) 36,244 26,492 24,678 22,182 18,298 18,128 17,351 18,994 15,985 36,244 18,298 22,918 17,607 Average loans (1)(2) 302,759 296,809 288,309 284,845 244,706 239,819 236,990 231,691 228,161 302,759 244,706 278,616 234,180 Average interest -bearing assets (3) 573,232 549,282 534,190 517,344 456,423 442,043 428,670 414,959 400,439 573,232 456,423 514,285 421,566 Average assets (1) 603,457 583,295 567,070 551,432 488,208 469,795 461,504 455,036 442,666 603,457 488,208 547,469 457,262 Average deposits (1) 440,185 423,923 404,700 399,064 349,630 333,000 319,246 308,488 301,533 440,185 349,630 394,291 315,605 Average common shareholders' equity (1) 30,712 30,473 29,931 29,461 22,819 22,179 21,539 20,955 20,571 30,712 22,819 28,140 21,310 Return on average assets (3) 0.82% 0.72% 0.75% 0.67% 0.81% 0.81% 0.89% 0.81% 0.83% 0.82% 0.81% 0.73% 0.83% Return on average assets (3) – Adjusted (4) 0.87% 0.79% 0.77% 0.87% 0.85% 0.79% 0.83% 0.81% 0.83% 0.87% 0.85% 0.82% 0.81% Net Interest Margin (3) and Net Interest Margin, Non - trading – Adjusted (4) Net interest income 1,394 1,169 1,172 1,205 972 784 769 635 751 1,394 972 4,518 2,939 Less: specified items (5) − − − − (28) (9) (5) − − − (28) (28) (14) Net interest income – Adjusted (5) 1,394 1,169 1,172 1,205 1,000 793 774 635 751 1,394 1,000 4,546 2,953 Less: net interest income (loss) related to trading activities (3)(6) (696) (820) (766) (657) (672) (836) (771) (785) (684) (696) (672) (2,915) (3,076) Net interest income, non -trading – Adjusted (5)(6) 2,090 1,989 1,938 1,862 1,672 1,629 1,545 1,420 1,435 2,090 1,672 7,461 6,029 Average interest -bearing assets (3) 573,232 549,282 534,190 517,344 456,423 442,043 428,670 414,959 400,439 573,232 456,423 514,285 421,566 Net interest margin (3) 0.96% 0.84% 0.87% 0.96% 0.84% 0.71% 0.71% 0.62% 0.75% 0.96% 0.84% 0.88% 0.70% Average interest -bearing assets, non -trading (3) 370,222 360,237 345,875 341,998 293,884 287,139 277,201 266,673 258,753 370,222 293,884 335,445 272,473 Net interest margin, non -trading – Adjusted (4) 2.24% 2.19% 2.22% 2.23% 2.26% 2.26% 2.22% 2.17% 2.21% 2.24% 2.26% 2.22% 2.21% Assets Under Administration and Under Management Assets under administration (3) 899,198 874,360 817,718 825,523 820,125 766,082 746,295 691,554 712,488 Assets under management (3) Individual 125,884 122,864 115,653 107,168 100,932 95,297 91,288 84,047 79,641 Mutual funds 72,239 71,603 67,529 63,301 64,570 60,603 58,951 54,801 53,181 198,123 194,467 183,182 170,469 165,502 155,900 150,239 138,848 132,822 (1) Represents an average of the daily balances for the period. (2) Including customers’ liability under acceptances for the quarters of 2024. (3) For details on the composition of these measures, see the Glossary section in the Report to Shareholders for the First Qu arter of 2026, which is available on the Bank's website at nbc.ca or the SEDAR+ website at sedarplus.ca . (4) For additional information on non -GAAP ratios, see the Financial Reporting Method section in the Report to Shareholders for the First Quarter of 2026, which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca . (5) For additional information on non -GAAP financial measures, see pages 15 and 16 in this document and the Financial Reporting Method section in the Report to Sha reholders for the First Quarter of 2026, which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca . (6) Q1 2026 data reflect a reclassification from trading to non -trading net interest income, resulting from an allocation methodology refinement in the Capital Markets segment.
Slide 8 — Segment Disclosures
National Bank of Canada – Supplementary Financial Information 8 Segment Disclosures - Personal and Commercial (P&C) (millions of Canadian dollars, except as noted) 2026 2025 2024 YTD Full Year Reported as per IFRS Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 2026 2025 2025 2024 Net interest income 1,240 1,205 1,180 1,146 944 934 913 870 870 1,240 944 4,475 3,587 Non -interest income 288 277 269 270 260 256 285 261 284 288 260 1,076 1,086 Total revenues 1,528 1,482 1,449 1,416 1,204 1,190 1,198 1,131 1,154 1,528 1,204 5,551 4,673 Non -interest expenses 800 897 805 804 641 644 615 612 615 800 641 3,147 2,486 Income before provisions for credit losses and income taxes 728 585 644 612 563 546 583 519 539 728 563 2,404 2,187 PCL - Impaired 140 146 115 124 136 77 66 89 70 140 136 521 302 PCL - Performing (1) − 19 302 25 20 12 3 12 (1) 25 346 47 PCL - POCI (1) 1 (1) 1 (3) (11) 1 1 (14) Provisions for credit losses 139 146 134 426 162 96 79 89 71 139 162 868 335 Income before income taxes 589 439 510 186 401 450 504 430 468 589 401 1,536 1,852 Income taxes 162 120 140 54 111 123 138 119 129 162 111 425 509 Net income 427 319 370 132 290 327 366 311 339 427 290 1,111 1,343 Adjusted (2) Net interest income 1,240 1,205 1,180 1,146 944 934 913 870 870 1,240 944 4,475 3,587 Non -interest income 288 277 269 270 260 256 285 261 284 288 260 1,076 1,086 Total revenues 1,528 1,482 1,449 1,416 1,204 1,190 1,198 1,131 1,154 1,528 1,204 5,551 4,673 Non -interest expenses – Adjusted 779 876 782 780 641 644 615 612 615 779 641 3,079 2,486 Income before provisions for credit losses and income taxes – Adjusted 749 606 667 636 563 546 583 519 539 749 563 2,472 2,187 PCL - Impaired 140 146 115 124 136 77 66 89 70 140 136 521 302 PCL - Performing – Adjusted (1) − 19 72 25 20 12 3 12 (1) 25 116 47 PCL - POCI (1) 1 (1) 1 (3) (11) 1 1 (14) Provisions for credit losses – Adjusted 139 146 134 196 162 96 79 89 71 139 162 638 335 Income before income taxes – Adjusted 610 460 533 440 401 450 504 430 468 610 401 1,834 1,852 Income taxes – Adjusted 168 124 147 124 111 123 138 119 129 168 111 506 509 Net income – Adjusted 442 336 386 316 290 327 366 311 339 442 290 1,328 1,343 Key Metrics Return on common shareholders' equity (3) 12.2% 12.2% Return on common shareholders' equity – Adjusted (4) 12.7% 12.7% Net interest margin (3) 2.27% 2.25% 2.25% 2.30% 2.28% 2.30% 2.31% 2.36% 2.36% 2.27% 2.28% 2.27% 2.33% Efficiency ratio (3) 52.4% 60.5% 55.6% 56.8% 53.2% 54.1% 51.3% 54.1% 53.3% 52.4% 53.2% 56.7% 53.2% Efficiency ratio – Adjusted (4) 51.0% 59.1% 54.0% 55.1% 53.2% 54.1% 51.3% 54.1% 53.3% 51.0% 53.2% 55.5% 53.2% Average loans (5)(6) - Personal 117,546 114,352 110,988 107,933 100,203 99,621 98,779 96,916 96,701 117,546 100,203 108,373 98,010 Mortgages loans 100,746 97,683 94,695 92,156 84,415 84,055 83,336 81,896 81,851 100,746 84,415 92,238 82,789 Personal loans 13,904 13,875 13,569 13,158 13,117 12,964 12,879 12,544 12,355 13,904 13,117 13,432 12,686 Credit card 2,896 2,794 2,724 2,619 2,671 2,602 2,564 2,476 2,495 2,896 2,671 2,703 2,535 Average loans (5)(6) - Commercial 98,581 97,962 96,899 95,408 63,894 61,944 60,363 58,184 56,590 98,581 63,894 88,484 59,276 Average assets (5) 220,069 216,065 211,499 208,658 165,861 163,186 160,666 156,736 155,031 220,069 165,861 200,454 158,917 Average interest -bearing assets (3) 216,471 212,640 208,107 204,759 164,340 161,738 157,327 150,072 146,700 216,471 164,340 197,402 153,980 Average deposits (5) - Personal 48,993 49,631 50,162 48,874 42,274 41,994 41,692 41,052 40,845 48,993 42,274 47,726 41,398 Average deposits (5) - Commercial 62,300 61,171 58,931 58,212 49,758 49,712 50,214 47,881 48,104 62,300 49,758 57,008 48,984 Number of employees (full -time equivalent) 9,022 8,926 8,998 9,290 7,813 7,725 7,769 7,778 7,774 9,022 7,813 8,926 7,725 (1) The presentation was changed in Q2 2025 and the comparative figures were not adjusted to reflect the change as the amount s were not considered significant. Prior Q2 2025, the amounts included PCL on POCI loans acquired from SVB in Q4 2023. (2) For additional information on non -GAAP financial measures, see pages 15 and 16 in this document and the Financial Reporting Method section in the Report to Sha reholders for the First Quarter of 2026, which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca . (3) For details on the composition of these measures, see the Glossary section in the Report to Shareholders for the First Qu arter of 2026, which is available on the Bank's website at nbc.ca or the SEDAR+ website at sedarplus.ca . (4) For additional information on non -GAAP ratios, see the Financial Reporting Method section in the Report to Shareholders for the First Quarter of 2026, which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca . (5) Represents an average of the daily balances for the period. (6) Including customers’ liability under acceptances for the quarters of 2024.
Slide 9 — Segment Disclosures
National Bank of Canada – Supplementary Financial Information 9 Segment Disclosures - Wealth Management (WM) (millions of Canadian dollars, except as noted) 2026 2025 2024 YTD Full Year Reported as per IFRS Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 2026 2025 2025 2024 Net interest income 240 238 235 230 227 213 219 203 198 240 227 930 833 Non -interest income 659 624 576 561 549 514 497 480 462 659 549 2,310 1,953 Total revenues 899 862 811 791 776 727 716 683 660 899 776 3,240 2,786 Non -interest expenses 531 508 477 476 441 427 416 400 390 531 441 1,902 1,633 Income before provisions for credit losses and income taxes 368 354 334 315 335 300 300 283 270 368 335 1,338 1,153 PCL - Impaired (1) 1 2 − 1 − − − − (1) 1 4 − PCL - Performing (1) 2 (1) (1) 1 (1) − − − (1) 1 1 (1) Provisions for credit losses (2) 3 1 (1) 2 (1) − − − (2) 2 5 (1) Income before income taxes 370 351 333 316 333 301 300 283 270 370 333 1,333 1,154 Income taxes 98 93 89 84 91 82 83 78 74 98 91 357 317 Net income 272 258 244 232 242 219 217 205 196 272 242 976 837 Adjusted (1) Net interest income 240 238 235 230 227 213 219 203 198 240 227 930 833 Non -interest income 659 624 576 561 549 514 497 480 462 659 549 2,310 1,953 Total revenues 899 862 811 791 776 727 716 683 660 899 776 3,240 2,786 Non -interest expenses – Adjusted 528 505 475 472 441 427 416 400 390 528 441 1,893 1,633 Income before provisions for credit losses and income taxes – Adjusted 371 357 336 319 335 300 300 283 270 371 335 1,347 1,153 PCL - Impaired (1) 1 2 − 1 − − − − (1) 1 4 − PCL - Performing (1) 2 (1) (1) 1 (1) − − − (1) 1 1 (1) Provisions for credit losses (2) 3 1 (1) 2 (1) − − − (2) 2 5 (1) Income before income taxes – Adjusted 373 354 335 320 333 301 300 283 270 373 333 1,342 1,154 Income taxes – Adjusted 99 95 89 85 91 82 83 78 74 99 91 360 317 Net income – Adjusted 274 259 246 235 242 219 217 205 196 274 242 982 837 Key metrics Return on common shareholders' equity (2) 56.6% 56.6% Return on common shareholders' equity – Adjusted (3) 57.0% 57.0% Efficiency ratio (2) 59.1% 58.9% 58.8% 60.2% 56.8% 58.7% 58.1% 58.6% 59.1% 59.1% 56.8% 58.7% 58.6% Efficiency ratio – Adjusted (3) 58.7% 58.6% 58.6% 59.7% 56.8% 58.7% 58.1% 58.6% 59.1% 58.7% 56.8% 58.4% 58.6% Average loans (4)(5) 11,220 10,817 9,957 9,596 9,443 8,690 8,440 7,967 7,713 11,220 9,443 9,957 8,204 Average assets (4) 13,128 12,375 11,140 10,754 10,611 9,839 9,479 8,963 8,708 13,128 10,611 11,224 9,249 Average deposits (4) 60,244 58,296 58,179 60,015 43,463 43,008 43,285 41,927 41,216 60,244 43,463 54,949 42,361 Number of employees (full -time equivalent) 3,388 3,395 3,413 3,364 3,085 3,045 3,052 2,983 2,946 3,388 3,085 3,395 3,045 (1) For additional information on non -GAAP financial measures, see pages 15 and 16 in this document and the Financial Reporting Method section in the Report to Sha reholders for the First Quarter of 2026, which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca . (2) For details on the composition of these measures, see the Glossary section in the Report to Shareholders for the First Qu arter of 2026, which is available on the Bank's website at nbc.ca or the SEDAR+ website at sedarplus.ca . (3) For additional information on non -GAAP ratios, see the Financial Reporting Method section in the Report to Shareholders for the First Quarter of 2026, which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca . (4) Represents an average of the daily balances for the period. (5) Including customers’ liability under acceptances for the quarters of 2024.
Slide 10 — Segment Disclosures
National Bank of Canada – Supplementary Financial Information 10 Segment Disclosures - Capital Markets (CM) (millions of Canadian dollars, except as noted) 2026 2025 2024 YTD Full Year Reported as per IFRS Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 2026 2025 2025 2024 Net interest income (1) (497) (657) (598) (505) (509) (672) (623) (671) (553) (497) (509) (2,269) (2,519) Non -interest income (1) 1,487 1,534 1,375 1,606 1,416 1,309 1,312 1,352 1,200 1,487 1,416 5,931 5,173 Total revenues 990 877 777 1,101 907 637 689 681 647 990 907 3,662 2,654 Non -interest expenses 412 325 347 403 367 301 320 312 313 412 367 1,442 1,246 Income before provisions for credit losses and income taxes 578 552 430 698 540 336 369 369 334 578 540 2,220 1,408 PCL - Impaired 28 13 (1) 55 18 16 20 − (2) 28 18 85 34 PCL - Performing (2) 5 25 9 18 (12) 2 11 19 (2) 18 57 20 Provisions for credit losses 26 18 24 64 36 4 22 11 17 26 36 142 54 Income before income taxes 552 534 406 634 504 332 347 358 317 552 504 2,078 1,354 Income taxes 109 102 72 133 87 26 29 36 9 109 87 394 100 Net income 443 432 334 501 417 306 318 322 308 443 417 1,684 1,254 Adjusted (2) Net interest income (1) (497) (657) (598) (505) (509) (672) (623) (671) (553) (497) (509) (2,269) (2,519) Non -interest income (1) 1,487 1,534 1,375 1,606 1,416 1,309 1,312 1,352 1,200 1,487 1,416 5,931 5,173 Total revenues 990 877 777 1,101 907 637 689 681 647 990 907 3,662 2,654 Non -interest expenses – Adjusted 412 325 347 403 367 301 320 312 313 412 367 1,442 1,246 Income before provisions for credit losses and income taxes – Adjusted 578 552 430 698 540 336 369 369 334 578 540 2,220 1,408 PCL - Impaired 28 13 (1) 55 18 16 20 − (2) 28 18 85 34 PCL - Performing (2) 5 25 9 18 (12) 2 11 19 (2) 18 57 20 Provisions for credit losses 26 18 24 64 36 4 22 11 17 26 36 142 54 Income before income taxes – Adjusted 552 534 406 634 504 332 347 358 317 552 504 2,078 1,354 Income taxes – Adjusted 109 102 72 133 87 26 29 36 9 109 87 394 100 Net income – Adjusted 443 432 334 501 417 306 318 322 308 443 417 1,684 1,254 Key Metrics Return on common shareholders' equity (3) 25.9% 25.9% Return on common shareholders' equity – Adjusted (4) 25.9% 25.9% Efficiency ratio (3) 41.6% 37.1% 44.7% 36.6% 40.5% 47.3% 46.4% 45.8% 48.4% 41.6% 40.5% 39.4% 46.9% Efficiency ratio – Adjusted (4) 41.6% 37.1% 44.7% 36.6% 40.5% 47.3% 46.4% 45.8% 48.4% 41.6% 40.5% 39.4% 46.9% Average loans (5)(6) (Corporate Banking only) 31,681 31,192 30,909 31,118 31,472 31,749 32,229 31,911 31,659 31,681 31,472 31,173 31,887 Average assets (5) 250,483 237,476 234,289 224,314 211,793 200,888 197,996 194,158 190,443 250,483 211,793 226,990 195,881 Average deposits (5) 91,372 86,400 78,775 77,467 74,330 70,646 65,447 64,578 63,335 91,372 74,330 79,257 65,930 Number of employees (full -time equivalent) 1,120 1,138 1,190 1,048 1,050 1,036 1,105 976 977 1,120 1,050 1,138 1,036 (1) The financing costs of the trading activity are presented in Net interest income , while most related gains are recorded in Non -interest income . For additional information, see Note 21 to the audited annual consolidated financial statements for the yea r ended October 31, 2025. (2) For additional information on non -GAAP financial measures, see pages 15 and 16 in this document and the Financial Reporting Method section in the Report to Sha reholders for the First Quarter of 2026, which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca . (3) For details on the composition of these measures, see the Glossary section in the Report to Shareholders for the First Qu arter of 2026, which is available on the Bank's website at nbc.ca or the SEDAR+ website at sedarplus.ca . (4) For additional information on non -GAAP ratios, see the Financial Reporting Method section in the Report to Shareholders for the First Quarter of 2026, which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca . (5) Represents an average of the daily balances for the period. (6) Including customers’ liability under acceptances for the quarters of 2024.
Slide 11 — Segment Disclosures
National Bank of Canada – Supplementary Financial Information 11 Segment Disclosures - U.S. Specialty Finance and International (USSF&I) (millions of Canadian dollars, except as noted) 2026 2025 2024 YTD Full Year Credigy – Reported as per IFRS Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 2026 2025 2025 2024 Net interest income 157 140 131 137 141 150 129 126 117 157 141 549 522 Non -interest income 3 4 5 4 4 (6) 10 10 8 3 4 17 22 Total revenues 160 144 136 141 145 144 139 136 125 160 145 566 544 Non -interest expenses 37 37 40 39 40 36 39 34 35 37 40 156 144 Income before provisions for credit losses and income taxes 123 107 96 102 105 108 100 102 90 123 105 410 400 PCL - Impaired - Stage 3 25 16 18 21 20 22 19 15 16 25 20 75 72 PCL - Performing 13 11 2 (2) 10 7 9 6 7 13 10 21 29 PCL - Impaired - POCI 4 4 2 11 − 4 1 5 2 4 − 17 12 Provisions for credit losses 42 31 22 30 30 33 29 26 25 42 30 113 113 Income before income taxes 81 76 74 72 75 75 71 76 65 81 75 297 287 Income taxes 17 15 16 15 16 16 15 15 14 17 16 62 60 Net income 64 61 58 57 59 59 56 61 51 64 59 235 227 Credigy – Key Metrics Return on common shareholders' equity (1) 21.1% 21.1% Efficiency ratio (1) 23.1% 25.7% 29.4% 27.7% 27.6% 25.0% 28.1% 25.0% 28.0% 23.1% 27.6% 27.6% 26.5% Average loans and receivables (2) 12,333 12,298 11,215 11,872 11,659 11,188 11,071 10,991 10,441 12,333 11,659 11,760 10,923 Average assets (2) 12,751 12,704 11,568 12,252 12,011 11,534 11,413 11,310 10,762 12,751 12,011 12,133 11,255 Formation of gross impaired loans excluding Credigy's POCI loans (3)(4) 43 17 21 30 21 42 29 20 26 43 21 89 117 Gross impaired loans excluding Credigy's POCI loans (3) 126 102 104 102 92 88 64 54 51 126 92 102 88 Credigy – Reported as per IFRS (millions of U.S. dollars) Net interest income 113 101 95 97 99 110 95 93 88 113 99 392 386 Non -interest income 2 3 4 3 3 (4) 7 7 6 2 3 13 16 Total revenues 115 104 99 100 102 106 102 100 94 115 102 405 402 Non -interest expenses 26 27 29 28 28 27 28 26 26 26 28 112 107 Income before provisions for credit losses and income taxes 89 77 70 72 74 79 74 74 68 89 74 293 295 PCL - Impaired - Stage 3 18 12 14 14 14 16 14 11 12 18 14 54 53 PCL - Performing 9 8 1 (1) 7 5 7 5 5 9 7 15 22 PCL - Impaired - POCI 3 3 1 8 − 3 − 4 2 3 − 12 9 Provisions for credit losses 30 23 16 21 21 24 21 20 19 30 21 81 84 Income before income taxes 59 54 54 51 53 55 53 54 49 59 53 212 211 Income taxes 12 12 11 11 11 12 11 11 10 12 11 45 44 Net income 47 42 43 40 42 43 42 43 39 47 42 167 167 Credigy – Key Metrics (millions of U.S. dollars, except as noted) Efficiency ratio (1) 22.6% 26.0% 29.3% 28.0% 27.5% 25.5% 27.5% 26.0% 27.7% 22.6% 27.5% 27.7% 26.6% Average loans and receivables (2) 8,957 8,851 8,153 8,212 8,263 8,223 8,085 8,126 7,714 8,957 8,263 8,371 8,037 Average assets (2) 9,261 9,144 8,410 8,475 8,512 8,478 8,310 8,337 7,925 9,261 8,512 8,637 8,262 Formation of gross impaired loans excluding Credigy's POCI loans (3)(5) 32 10 14 23 11 29 19 12 20 32 11 58 80 Gross impaired loans excluding Credigy's POCI loans (3) 93 73 75 74 63 63 46 39 38 93 63 73 63 (1) For details on the composition of these measures, see the Glossary section in the Report to Shareholders for the First Qu arter of 2026, which is available on the Bank's website at nbc.ca or the SEDAR+ website at sedarplus.ca . (2) Represents an average of the daily balances for the period. (3) For additional information on non -GAAP financial measures, see the Financial Reporting Method section in the Report to Shareholders for the First Quarter of 20 26, which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca . (4) The formations presented in the table are before write -offs and comprise new accounts, disbursements, principal repayments, and exchange rate fluctuation. (5) The formations presented in the table are before write -offs and comprise new accounts, disbursements and principal repayments.
Slide 12 — Segment Disclosures
National Bank of Canada – Supplementary Financial Information 12 Segment Disclosures - U.S. Specialty Finance and International (USSF&I) (continued) (millions of Canadian dollars, except as noted) 2026 2025 2024 YTD Full Year ABA Bank – Reported as per IFRS Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 2026 2025 2025 2024 Net interest income 239 247 233 221 220 210 200 189 174 239 220 921 773 Non -interest income 32 27 26 29 28 24 23 20 20 32 28 110 87 Total revenues 271 274 259 250 248 234 223 209 194 271 248 1,031 860 Non -interest expenses 83 88 89 77 83 79 76 73 65 83 83 337 293 Income before provisions for credit losses and income taxes 188 186 170 173 165 155 147 136 129 188 165 694 567 PCL - Impaired 23 35 16 19 21 29 17 10 15 23 21 91 71 PCL - Performing 15 13 4 10 − − − 1 (4) 15 − 27 (3) Provisions for credit losses 38 48 20 29 21 29 17 11 11 38 21 118 68 Income before income taxes 150 138 150 144 144 126 130 125 118 150 144 576 499 Income taxes 32 29 31 31 30 27 27 26 25 32 30 121 105 Net income 118 109 119 113 114 99 103 99 93 118 114 455 394 ABA Bank – Key Metrics Return on common shareholders' equity (1) 28.5% 28.5% Efficiency ratio (1) 30.6% 32.1% 34.4% 30.8% 33.5% 33.8% 34.1% 34.9% 33.5% 30.6% 33.5% 32.7% 34.1% Average loans and receivables (2) 12,734 12,419 11,943 12,246 11,769 11,154 11,044 10,694 10,345 12,734 11,769 12,093 10,809 Average assets (2) 21,990 21,039 20,016 20,574 18,950 17,287 16,529 15,845 15,014 21,990 18,950 20,141 16,170 Average deposits (2) 17,380 16,711 16,068 16,474 15,145 13,745 13,272 12,750 12,174 17,380 15,145 16,097 12,987 Formation of gross impaired loans (3) 25 87 66 56 144 129 75 48 50 25 144 353 302 Gross impaired loans 984 968 896 838 791 648 519 445 397 984 791 968 648 ABA Bank – Reported as per IFRS (millions of U.S. dollars) Net interest income 173 178 169 156 154 154 146 138 129 173 154 657 567 Non -interest income 23 20 19 20 20 17 17 15 15 23 20 79 64 Total revenues 196 198 188 176 174 171 163 153 144 196 174 736 631 Non -interest expenses 60 64 64 55 59 58 56 54 48 60 59 242 216 Income before provisions for credit losses and income taxes 136 134 124 121 115 113 107 99 96 136 115 494 415 PCL - Impaired 17 25 11 14 15 22 12 7 11 17 15 65 52 PCL - Performing 10 9 3 7 − − − 1 (3) 10 − 19 (2) Provisions for credit losses 27 34 14 21 15 22 12 8 8 27 15 84 50 Income before income taxes 109 100 110 100 100 91 95 91 88 109 100 410 365 Income taxes 23 22 23 21 21 19 20 19 18 23 21 87 76 Net income 86 78 87 79 79 72 75 72 70 86 79 323 289 ABA Bank – Key Metrics (millions of U.S. dollars, except as noted) Efficiency ratio (1) 30.6% 32.3% 34.0% 31.3% 33.9% 33.9% 34.4% 35.3% 33.3% 30.6% 33.9% 32.9% 34.2% Average loans and receivables (2) 9,248 8,940 8,683 8,473 8,340 8,198 8,065 7,906 7,634 9,248 8,340 8,610 7,951 Average assets (2) 15,974 15,143 14,550 14,238 13,423 12,708 11,972 11,614 10,983 15,974 13,423 14,339 11,820 Average deposits (2) 12,624 12,029 11,681 11,399 10,729 10,104 9,693 9,426 8,985 12,624 10,729 11,460 9,553 Formation of gross impaired loans (4) 39 55 45 70 79 90 53 28 45 39 79 249 216 Gross impaired loans 723 690 647 608 544 465 376 323 295 723 544 690 465 (1) For details on the composition of these measures, see the Glossary section in the Report to Shareholders for the First Qu arter of 2026, which is available on the Bank's website at nbc.ca or the SEDAR+ website at sedarplus.ca . (2) Represents an average of the daily balances for the period. (3) The formations presented in the table are before write -offs and comprise new accounts, disbursements, principal repayments, and exchange rate fluctuation. (4) The formations presented in the table are before write -offs and comprise new accounts, disbursements and principal repayments.
Slide 13 — Segment Disclosures
National Bank of Canada – Supplementary Financial Information 13 Segment Disclosures - U.S. Specialty Finance and International (USSF&I) (continued) (millions of Canadian dollars, except as noted) 2026 2025 2024 YTD Full Year International – Reported as per IFRS Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 2026 2025 2025 2024 Net interest income 1 2 5 (2) 9 (2) (3) 3 10 1 9 14 8 Non -interest income 2 4 2 1 3 2 2 2 (3) 2 3 10 3 Total revenues 3 6 7 (1) 12 − (1) 5 7 3 12 24 11 Non -interest expenses − 1 6 1 − 1 − 1 − − − 8 2 Income before provisions for credit losses and income taxes 3 5 1 (2) 12 (1) (1) 4 7 3 12 16 9 PCL - Impaired − − − − − 1 − − − − − − 1 PCL - Performing − − − − − − − − − − − − − Provisions for credit losses − − − − − 1 − − − − − − 1 Income before income taxes 3 5 1 (2) 12 (2) (1) 4 7 3 12 16 8 Income taxes − 1 − (1) 2 (1) − 1 1 − 2 2 1 Net income 3 4 1 (1) 10 (1) (1) 3 6 3 10 14 7 International – Key Metrics Average loans and receivables (1) 56 54 51 8 − 1 1 1 1 56 − 28 1 Average assets (1) 86 215 224 275 236 232 247 247 249 86 236 237 244 USSF&I – Reported as per IFRS Net interest income 397 389 369 356 370 358 326 318 301 397 370 1,484 1,303 Non -interest income 37 35 33 34 35 20 35 32 25 37 35 137 112 Total revenues 434 424 402 390 405 378 361 350 326 434 405 1,621 1,415 Non -interest expenses 120 126 135 117 123 116 115 108 100 120 123 501 439 Income before provisions for credit losses and income taxes 314 298 267 273 282 262 246 242 226 314 282 1,120 976 PCL - Impaired 48 51 34 40 41 52 36 25 31 48 41 166 144 PCL - Performing 28 24 6 8 10 7 9 7 3 28 10 48 26 PCL - Credigy’s POCI loans 4 4 2 11 − 4 1 5 2 4 − 17 12 Provisions for credit losses 80 79 42 59 51 63 46 37 36 80 51 231 182 Income before income taxes 234 219 225 214 231 199 200 205 190 234 231 889 794 Income taxes 49 45 47 45 48 42 42 42 40 49 48 185 166 Net income 185 174 178 169 183 157 158 163 150 185 183 704 628 USSF&I – Key Metrics Return on common shareholders' equity (2) 25.6% 25.6% Efficiency ratio (2) 27.6% 29.7% 33.6% 30.0% 30.4% 30.7% 31.9% 30.9% 30.7% 27.6% 30.4% 30.9% 31.0% Average loans and receivables (1) 25,123 24,771 23,209 24,126 23,428 22,343 22,116 21,686 20,787 25,123 23,428 23,881 21,733 Average assets (1) 34,827 33,958 31,808 33,101 31,197 29,053 28,189 27,402 26,025 34,827 31,197 32,511 27,669 Average deposits (1) 17,380 16,711 16,068 16,500 15,145 13,745 13,272 12,750 12,174 17,380 15,145 16,103 12,987 Number of employees (full -time equivalent) 11,427 11,058 10,504 10,264 10,155 10,084 9,968 9,730 9,828 11,427 10,155 11,058 10,084 (1) Represents an average of the daily balances for the period. (2) For details on the composition of these measures, see the Glossary section in the Report to Shareholders for the First Qu arter of 2026, which is available on the Bank's website at nbc.ca or the SEDAR+ website at sedarplus.ca .
Slide 14 — Segment Disclosures
National Bank of Canada – Supplementary Financial Information 14 Segment Disclosures - Other (millions of Canadian dollars, except as noted) 2026 2025 2024 YTD Full Year Reported as per IFRS Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 2026 2025 2025 2024 Net interest income 14 (6) (14) (22) (60) (49) (66) (85) (65) 14 (60) (102) (265) Non -interest income 28 59 24 (26) (49) 61 98 (10) (12) 28 (49) 8 137 Total revenues 42 53 10 (48) (109) 12 32 (95) (77) 42 (109) (94) (128) Non -interest expenses 148 231 161 142 74 104 75 40 31 148 74 608 250 Income before provisions for credit losses and income taxes (106) (178) (151) (190) (183) (92) (43) (135) (108) (106) (183) (702) (378) PCL - Impaired − − − − − − − − − − − − − PCL - Performing 1 (2) 2 (3) 3 − 2 1 (4) 1 3 − (1) Provisions for credit losses 1 (2) 2 (3) 3 − 2 1 (4) 1 3 − (1) Income before income taxes (recovery) (107) (176) (153) (187) (186) (92) (45) (136) (104) (107) (186) (702) (377) Income taxes (recovery) (34) (52) (92) (49) (51) (38) (19) (41) (33) (34) (51) (244) (131) Net income (loss) (73) (124) (61) (138) (135) (54) (26) (95) (71) (73) (135) (458) (246) Non -controlling interests − − − − − − − (1) − − − − (1) Net income (loss) attributable to the Bank's shareholders and holders of other equity instruments (73) (124) (61) (138) (135) (54) (26) (94) (71) (73) (135) (458) (245) Adjusted (1) Net interest income – Adjusted 14 (6) (14) (22) (32) (40) (61) (85) (65) 14 (32) (74) (251) Non -interest income – Adjusted 28 59 24 (26) (30) 3 (15) (10) (12) 28 (30) 27 (34) Total revenues – Adjusted 42 53 10 (48) (62) (37) (76) (95) (77) 42 (62) (47) (285) Non -interest expenses – Adjusted 81 117 67 28 48 93 68 40 31 81 48 260 232 Income before provisions for credit losses and income taxes – Adjusted (39) (64) (57) (76) (110) (130) (144) (135) (108) (39) (110) (307) (517) PCL - Impaired − − − − − − − − − − − − − PCL - Performing 1 (2) 2 (3) 3 − 2 1 (4) 1 3 − (1) Provisions for credit losses 1 (2) 2 (3) 3 − 2 1 (4) 1 3 − (1) Income before income taxes (recovery) – Adjusted (40) (62) (59) (73) (113) (130) (146) (136) (104) (40) (113) (307) (516) Income taxes (recovery) – Adjusted (16) (20) (19) (18) (31) (49) (47) (41) (33) (16) (31) (88) (170) Net income (loss) – Adjusted (24) (42) (40) (55) (82) (81) (99) (95) (71) (24) (82) (219) (346) Non -controlling interests − − − − − − − (1) − − − − (1) Net income (loss) attributable to the Bank's shareholders and holders of other equity instruments – Adjusted (24) (42) (40) (55) (82) (81) (99) (94) (71) (24) (82) (219) (345) Key Metrics Average assets (2) 84,950 83,421 78,334 74,605 68,746 66,829 65,174 67,777 62,459 84,950 68,746 76,290 65,546 Average deposits (2) 159,896 151,714 142,585 137,996 124,662 113,895 105,336 100,300 95,859 159,896 124,662 139,248 103,945 Number of employees (full -time equivalent) 8,570 8,683 8,732 8,405 7,405 7,306 7,356 7,198 7,206 8,570 7,405 8,683 7,306 (1) For additional information on non -GAAP financial measures, see pages 15 and 16 in this document and the Financial Reporting Method section in the Report to Shareholders for the First Quarter of 2026, which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca . (2) Represents an average of the daily balances for the period.
Slide 15 — Reconciliation of Non
National Bank of Canada – Supplementary Financial Information 15 Reconciliation of Non -GAAP Financial Measures (1) (millions of Canadian dollars) 2026 2025 2024 YTD Full year Operating Results - Reported as per IFRS Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 2026 2025 2025 2024 Net interest income 1,394 1,169 1,172 1,205 972 784 769 635 751 1,394 972 4,518 2,939 Non -interest income 2,499 2,529 2,277 2,445 2,211 2,160 2,227 2,115 1,959 2,499 2,211 9,462 8,461 Total revenues 3,893 3,698 3,449 3,650 3,183 2,944 2,996 2,750 2,710 3,893 3,183 13,980 11,400 Non -interest expenses 2,011 2,087 1,925 1,942 1,646 1,592 1,541 1,472 1,449 2,011 1,646 7,600 6,054 Income before provisions for credit losses and income taxes 1,882 1,611 1,524 1,708 1,537 1,352 1,455 1,278 1,261 1,882 1,537 6,380 5,346 PCL - Impaired 215 211 150 219 196 145 122 114 99 215 196 776 480 PCL - Performing 25 29 51 315 57 14 25 22 30 25 57 452 91 PCL - Credigy’s POCI loans (2) 4 4 2 11 1 3 2 2 (9) 4 1 18 (2) Provisions for credit losses 244 244 203 545 254 162 149 138 120 244 254 1,246 569 Income before income taxes 1,638 1,367 1,321 1,163 1,283 1,190 1,306 1,140 1,141 1,638 1,283 5,134 4,777 Income taxes 384 308 256 267 286 235 273 234 219 384 286 1,117 961 Net income 1,254 1,059 1,065 896 997 955 1,033 906 922 1,254 997 4,017 3,816 Non -controlling interests − − − − − − − (1) − − − − (1) Net income attributable to the Bank's shareholders and holders of other equity instruments 1,254 1,059 1,065 896 997 955 1,033 907 922 1,254 997 4,017 3,817 Items that have an impact on results Net interest income Amortization of the subscription receipt issuance costs (3) − − − − (28) (9) (5) − − − (28) (28) (14) − − − − (28) (9) (5) − − − (28) (28) (14) Non-interest income Gain on the fair value remeasurement of an equity interests (3) − − − − 4 54 120 − − − 4 4 174 Management of the fair value changes related to the CWB acquisition (3) − − − − (23) 4 (7) − − − (23) (23) (3) − − − − (19) 58 113 − − − (19) (19) 171 Non-interest expenses Integration and transaction -related charges (3) 67 114 94 118 26 11 7 − − 67 26 352 18 Amortization of intangible assets related to the CWB acquisition (3) 24 24 25 24 − − − − − 24 − 73 − 91 138 119 142 26 11 7 − − 91 26 425 18 Provisions for credit losses Initial provisions for credit losses on performing loans acquired from CWB (3) − − − 230 − − − − − − − 230 − − − − 230 − − − − − − − 230 − Income taxes Income tax recovery related to a change in tax treatment (3) − − (47) − − − − − − − − (47) − Income taxes on specified items (3) (25) (38) (33) (102) (20) 11 28 − − (25) (20) (193) 39 (25) (38) (80) (102) (20) 11 28 − − (25) (20) (240) 39 Impact on net income (66) (100) (39) (270) (53) 27 73 − − (66) (53) (462) 100 Operating Results – Adjusted (1) Net interest income – Adjusted 1,394 1,169 1,172 1,205 1,000 793 774 635 751 1,394 1,000 4,546 2,953 Non -interest income – Adjusted 2,499 2,529 2,277 2,445 2,230 2,102 2,114 2,115 1,959 2,499 2,230 9,481 8,290 Total revenues – Adjusted 3,893 3,698 3,449 3,650 3,230 2,895 2,888 2,750 2,710 3,893 3,230 14,027 11,243 Non -interest expenses – Adjusted 1,920 1,949 1,806 1,800 1,620 1,581 1,534 1,472 1,449 1,920 1,620 7,175 6,036 Income before provisions for credit losses and income taxes – Adjusted 1,973 1,749 1,643 1,850 1,610 1,314 1,354 1,278 1,261 1,973 1,610 6,852 5,207 PCL - Impaired 215 211 150 219 196 145 122 114 99 215 196 776 480 PCL - Performing – Adjusted 25 29 51 85 57 14 25 22 30 25 57 222 91 PCL - Credigy’s POCI loans (2) 4 4 2 11 1 3 2 2 (9) 4 1 18 (2) Provisions for credit losses – Adjusted 244 244 203 315 254 162 149 138 120 244 254 1,016 569 Income before income taxes – Adjusted 1,729 1,505 1,440 1,535 1,356 1,152 1,205 1,140 1,141 1,729 1,356 5,836 4,638 Income taxes – Adjusted 409 346 336 369 306 224 245 234 219 409 306 1,357 922 Net income – Adjusted 1,320 1,159 1,104 1,166 1,050 928 960 906 922 1,320 1,050 4,479 3,716 Non -controlling interests − − − − − − − (1) − − − − (1) Net income attributable to the Bank's shareholders and holders of other equity instruments – Adjusted 1,320 1,159 1,104 1,166 1,050 928 960 907 922 1,320 1,050 4,479 3,717 (1) For additional information on non -GAAP financial measures, see the Financial Reporting Method section in the Report to Shareholders for the First Quarter of 20 26, which is available on the Bank's website at nbc.ca or the SEDAR+ website at sedarplus.ca . (2) The presentation was changed in Q2 2025 and the comparative figures were not adjusted to reflect the change as the amount s were not considered significant. Prior Q2 2025, the amounts also included PCL on POCI loans acquired from SVB in Q4 2023 (Q 1 2025: $1 million, Q4 2024: $(1) million, Q3 2024: $1 million, Q2 2024: $(3) million and Q1 2024: $(11) million). (3) More details on specified items are presented on page 16.
Slide 16 — Specified Items
National Bank of Canada – Supplementary Financial Information 16 Specified Items (1) (millions of Canadian dollars) 2026 2025 2024 YTD Full year Q1 Q4 Q3 Q2 Q1 Q4 Q3 2026 2025 2025 2024 P&C WM Other Total P&C WM Other Total P&C WM Other Total P&C WM Other Total Other Other Other Total Total Total Total Net interest income Amortization of the subscription receipt issuance costs (2) − − − − − − − − − − − − − − − − (28) (9) (5) − (28) (28) (14) − − − − − − − − − − − − − − − − (28) (9) (5) − (28) (28) (14) Non-interest income Gain on the fair value remeasurement of an equity interest (3) − − − − − − − − − − − − − − − − 4 54 120 − 4 4 174 Management of the fair value changes related to the CWB acquisition (4) − − − − − − − − − − − − − − − − (23) 4 (7) − (23) (23) (3) − − − − − − − − − − − − − − − − (19) 58 113 − (19) (19) 171 Total revenues − − − − − − − − − − − − − − − − (47) 49 108 − (47) (47) 157 Non-interest expenses Integration and transaction -related charges (5) − − 67 67 − − 114 114 − − 94 94 1 3 114 118 26 11 7 67 26 352 18 Amortization of intangible assets related to the CWB acquisition (6) 21 3 − 24 21 3 − 24 23 2 − 25 23 1 − 24 − − − 24 − 73 − 21 3 67 91 21 3 114 138 23 2 94 119 24 4 114 142 26 11 7 91 26 425 18 Income before provisions for credit losses and income taxes (21) (3) (67) (91) (21) (3) (114) (138) (23) (2) (94) (119) (24) (4) (114) (142) (73) 38 101 (91) (73) (472) 139 Provisions for credit losses Initial provisions for credit losses on performing loans acquired from CWB − − − − − − − − − − − − 230 − − 230 − − − − − 230 − − − − − − − − − − − − − 230 − − 230 − − − − − 230 − Income before income taxes (21) (3) (67) (91) (21) (3) (114) (138) (23) (2) (94) (119) (254) (4) (114) (372) (73) 38 101 (91) (73) (702) 139 Income taxes Income tax recovery related to a change in tax treatment − − − − − − − − − − (47) (47) − − − − − − − − − (47) − Income taxes related to specified items (6) (1) (18) (25) (4) (2) (32) (38) (7) − (26) (33) (70) (1) (31) (102) (20) 11 28 (25) (20) (193) 39 (6) (1) (18) (25) (4) (2) (32) (38) (7) − (73) (80) (70) (1) (31) (102) (20) 11 28 (25) (20) (240) 39 Net income (15) (2) (49) (66) (17) (1) (82) (100) (16) (2) (21) (39) (184) (3) (83) (270) (53) 27 73 (66) (53) (462) 100 (1) For additional information on non -GAAP financial measures, see the Financial Reporting Method section in the Report to Shareholders for the First Quarter of 20 26 which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca . (2) The specified item is presented in the Interest expense − Deposits item of the Net interest income . (3) The specified item is presented in the Gains (losses) on non -trading securities, net item of the Non -interest income . (4) The specified item is presented in the Trading revenues (losses) item of the Non -interest income . (5) The specified item is presented in the Compensation and employee benefits , Amortization – Premises and equipment , Technology , Amortization – Technology , Professional fees and Other items of the Non -interest expenses . (6) The specified item is presented in the Other item of the Non -interest expenses .
Slide 17 — Return on Common Shareholders' Equity by Business Segment
National Bank of Canada – Supplementary Financial Information 17 Return on Common Shareholders' Equity by Business Segment (millions of Canadian dollars, except as noted) 2026 Personal and Commercial Q1 Net income attributable to common shareholders 408 Net income attributable to common shareholders – Adjusted (1) 424 Average allocated capital (2) 13,263 Return on common shareholders' equity (2) 12.2% Return on common shareholders' equity – Adjusted (3) 12.7% Wealth Management Net income attributable to common shareholders 271 Net income attributable to common shareholders – Adjusted (1) 273 Average allocated capital (2) 1,899 Return on common shareholders' equity (2) 56.6% Return on common shareholders' equity – Adjusted (3) 57.0% Capital Markets Net income attributable to common shareholders 432 Net income attributable to common shareholders – Adjusted (1) 432 Average allocated capital (2) 6,614 Return on common shareholders' equity (2) 25.9% Return on common shareholders' equity – Adjusted (3) 25.9% Credigy Net income attributable to common shareholders 62 Net income attributable to common shareholders – Adjusted (1) 62 Average allocated capital (2) 1,165 Return on common shareholders' equity (2) 21.1% Return on common shareholders' equity – Adjusted (3) 21.1% ABA Bank Net income attributable to common shareholders 115 Net income attributable to common shareholders – Adjusted (1) 115 Average allocated capital (2) 1,608 Return on common shareholders' equity (2) 28.5% Return on common shareholders' equity – Adjusted (3) 28.5% U.S. Specialty Finance and International Net income attributable to common shareholders 180 Net income attributable to common shareholders – Adjusted (1) 180 Average allocated capital (2) 2,788 Return on common shareholders' equity (2) 25.6% Return on common shareholders' equity – Adjusted (3) 25.6% (1) For additional information on non -GAAP financial measures, see pages 15 and 16 in this document and the Financial Reporting Method section in the Report to Sha reholders for the First Quarter of 2026, which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca . (2) For details on the composition of these measures, see the Glossary section in the Report to Shareholders for the First Qu arter of 2026, which is available on the Bank's website at nbc.ca or the SEDAR+ website at sedarplus.ca . (3) For additional information on non -GAAP ratios, see the Financial Reporting Method section in the Report to Shareholders for the First Quarter of 2026, which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca .
Slide 18 — Total Revenues
National Bank of Canada – Supplementary Financial Information 18 Total Revenues – Reported as per IFRS (millions of Canadian dollars) 2026 2025 2024 YTD Full Year Net Interest Income Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 2026 2025 2025 2024 Interest income Loans 4,313 4,409 4,264 4,096 3,896 4,039 4,026 3,823 3,693 4,313 3,896 16,665 15,581 Securities 885 851 879 878 839 767 725 661 690 885 839 3,447 2,843 Deposits with financial institutions 248 291 293 288 314 352 381 391 423 248 314 1,186 1,547 5,446 5,551 5,436 5,262 5,049 5,158 5,132 4,875 4,806 5,446 5,049 21,298 19,971 Interest expense Deposits 3,119 3,338 3,281 3,181 3,187 3,371 3,397 3,256 3,174 3,119 3,187 12,987 13,198 Liabilities related to transferred receivables 187 220 196 198 195 206 186 188 172 187 195 809 752 Subordinated debt 40 40 36 34 19 18 17 16 11 40 19 129 62 Other 706 784 751 644 676 779 763 780 698 706 676 2,855 3,020 4,052 4,382 4,264 4,057 4,077 4,374 4,363 4,240 4,055 4,052 4,077 16,780 17,032 Net interest income 1,394 1,169 1,172 1,205 972 784 769 635 751 1,394 972 4,518 2,939 Non-Interest Income Underwriting and advisory fees 156 172 190 112 96 91 125 115 88 156 96 570 419 Securities brokerage commissions 76 73 57 55 57 48 49 46 51 76 57 242 194 Mutual fund revenues 201 195 187 174 178 169 164 155 150 201 178 734 638 Investment management and trust service fees 392 373 346 342 320 302 289 282 268 392 320 1,381 1,141 Credit fees 98 93 95 83 82 76 103 133 148 98 82 353 460 Card revenues 49 51 54 53 50 55 56 51 50 49 50 208 212 Deposit and payment service charges 78 76 74 74 72 75 75 72 72 78 72 296 294 Trading revenues (losses) 1,240 1,246 1,118 1,388 1,181 1,115 1,058 1,125 1,001 1,240 1,181 4,933 4,299 Gains (losses) on non -trading securities, net 38 64 19 22 27 102 153 38 25 38 27 132 318 Insurance revenues, net 22 21 19 18 22 20 20 12 21 22 22 80 73 Foreign exchange revenues, other than trading 72 68 69 64 66 60 60 57 48 72 66 267 225 Share in the net income of associates and joint ventures 2 2 2 2 2 2 2 2 2 2 2 8 8 Other 75 95 47 58 58 45 73 27 35 75 58 258 180 Non-interest income 2,499 2,529 2,277 2,445 2,211 2,160 2,227 2,115 1,959 2,499 2,211 9,462 8,461 Total revenues 3,893 3,698 3,449 3,650 3,183 2,944 2,996 2,750 2,710 3,893 3,183 13,980 11,400
Slide 19 — Total Revenues
National Bank of Canada – Supplementary Financial Information 19 Total Revenues – Adjusted (1) (millions of Canadian dollars, except as noted) 2026 2025 2024 YTD Full Year Net Interest Income – Adjusted (1) Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 2026 2025 2025 2024 Interest income Loans 4,313 4,409 4,264 4,096 3,896 4,039 4,026 3,823 3,693 4,313 3,896 16,665 15,581 Securities 885 851 879 878 839 767 725 661 690 885 839 3,447 2,843 Deposits with financial institutions 248 291 293 288 314 352 381 391 423 248 314 1,186 1,547 5,446 5,551 5,436 5,262 5,049 5,158 5,132 4,875 4,806 5,446 5,049 21,298 19,971 Interest expense Deposits 3,119 3,338 3,281 3,181 3,159 3,362 3,392 3,256 3,174 3,119 3,159 12,959 13,184 Liabilities related to transferred receivables 187 220 196 198 195 206 186 188 172 187 195 809 752 Subordinated debt 40 40 36 34 19 18 17 16 11 40 19 129 62 Other 706 784 751 644 676 779 763 780 698 706 676 2,855 3,020 4,052 4,382 4,264 4,057 4,049 4,365 4,358 4,240 4,055 4,052 4,049 16,752 17,018 Net interest income – Adjusted 1,394 1,169 1,172 1,205 1,000 793 774 635 751 1,394 1,000 4,546 2,953 Non-Interest Income – Adjusted (1) Underwriting and advisory fees 156 172 190 112 96 91 125 115 88 156 96 570 419 Securities brokerage commissions 76 73 57 55 57 48 49 46 51 76 57 242 194 Mutual fund revenues 201 195 187 174 178 169 164 155 150 201 178 734 638 Investment management and trust service fees 392 373 346 342 320 302 289 282 268 392 320 1,381 1,141 Credit fees 98 93 95 83 82 76 103 133 148 98 82 353 460 Card revenues 49 51 54 53 50 55 56 51 50 49 50 208 212 Deposit and payment service charges 78 76 74 74 72 75 75 72 72 78 72 296 294 Trading revenues (losses) 1,240 1,246 1,118 1,388 1,204 1,111 1,065 1,125 1,001 1,240 1,204 4,956 4,302 Gains (losses) on non -trading securities, net 38 64 19 22 23 48 33 38 25 38 23 128 144 Insurance revenues, net 22 21 19 18 22 20 20 12 21 22 22 80 73 Foreign exchange revenues, other than trading 72 68 69 64 66 60 60 57 48 72 66 267 225 Share in the net income of associates and joint ventures 2 2 2 2 2 2 2 2 2 2 2 8 8 Other 75 95 47 58 58 45 73 27 35 75 58 258 180 Non-interest income – Adjusted 2,499 2,529 2,277 2,445 2,230 2,102 2,114 2,115 1,959 2,499 2,230 9,481 8,290 As a % of total revenues – Adjusted 64.2% 68.4% 66.0% 67.0% 69.0% 72.6% 73.2% 76.9% 72.3% 64.2% 69.0% 67.6% 73.7% Trading Activity Revenues Net interest income (696) (820) (766) (657) (672) (836) (771) (785) (684) (696) (672) (2,915) (3,076) Non -interest income 1,272 1,302 1,145 1,412 1,202 1,125 1,069 1,129 1,004 1,272 1,202 5,061 4,327 Trading activity revenues 576 482 379 755 530 289 298 344 320 576 530 2,146 1,251 Trading Activity Revenues Capital Markets Equities 380 321 165 542 367 210 199 170 130 380 367 1,395 709 Interest rate and credit 133 128 147 180 170 93 129 143 142 133 170 625 507 Commodities and foreign exchange 58 35 57 62 58 39 32 56 71 58 58 212 198 571 484 369 784 595 342 360 369 343 571 595 2,232 1,414 Other segments 5 (2) 10 (29) (65) (53) (62) (25) (23) 5 (65) (86) (163) Trading activity revenues 576 482 379 755 530 289 298 344 320 576 530 2,146 1,251 (1) For additional information on non -GAAP financial measures, see pages 15 and 16 in this document and the Financial Reporting Method section in the Report to Shareholders for the First Quarter of 2026, which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca .
Slide 20 — Non
National Bank of Canada – Supplementary Financial Information 20 Non -Interest Expenses (millions of Canadian dollars) 2026 2025 2024 YTD Full year Non-Interest Expenses – Reported as per IFRS Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 2026 2025 2025 2024 Compensation and employee benefits Salaries 539 542 539 526 452 447 436 411 419 539 452 2,059 1,713 Variable compensation 527 476 469 525 432 386 412 378 354 527 432 1,902 1,530 Benefits, pension plans and other post -employment benefit plans 194 137 153 145 153 121 110 120 131 194 153 588 482 1,260 1,155 1,161 1,196 1,037 954 958 909 904 1,260 1,037 4,549 3,725 Occupancy Rent 23 34 25 25 21 19 19 22 23 23 21 105 83 Taxes & insurance 9 10 10 (12) 10 10 10 10 7 9 10 18 37 Maintenance, lighting 33 28 21 20 20 19 15 18 17 33 20 89 69 Amortization - Premises and equipment 54 57 54 54 46 48 45 44 40 54 46 211 177 119 129 110 87 97 96 89 94 87 119 97 423 366 Technology Technology 241 265 237 241 194 190 174 169 175 241 194 937 708 Amortization - Technology 89 152 93 101 91 84 84 86 84 89 91 437 338 330 417 330 342 285 274 258 255 259 330 285 1,374 1,046 Communications 17 19 16 18 16 15 14 14 13 17 16 69 56 Professional fees 110 150 129 120 93 102 82 66 66 110 93 492 316 Other expenses Advertising & business development 40 79 52 53 36 57 40 43 35 40 36 220 175 Capital and payroll taxes 11 10 11 9 9 9 9 9 9 11 9 39 36 Other 124 128 116 117 73 85 91 82 76 124 73 434 334 175 217 179 179 118 151 140 134 120 175 118 693 545 2,011 2,087 1,925 1,942 1,646 1,592 1,541 1,472 1,449 2,011 1,646 7,600 6,054 Non-Interest Expenses – Adjusted (1) Compensation and employee benefits Salaries 533 529 525 505 450 447 436 411 419 533 450 2,009 1,713 Variable compensation 523 468 462 500 432 386 412 378 354 523 432 1,862 1,530 Benefits, pension plans and other post -employment benefit plans 193 136 151 145 153 121 110 120 131 193 153 585 482 1,249 1,133 1,138 1,150 1,035 954 958 909 904 1,249 1,035 4,456 3,725 Occupancy Rent 23 33 25 25 21 19 19 22 23 23 21 104 83 Taxes & insurance 9 10 10 (12) 10 10 10 10 7 9 10 18 37 Maintenance, lighting 26 24 21 20 20 19 15 18 17 26 20 85 69 Amortization - Premises and equipment 54 56 53 53 46 48 45 44 40 54 46 208 177 112 123 109 86 97 96 89 94 87 112 97 415 366 Technology Technology 219 236 210 218 188 190 174 169 175 219 188 852 708 Amortization - Technology 88 151 93 96 91 84 84 86 84 88 91 431 338 307 387 303 314 279 274 258 255 259 307 279 1,283 1,046 Communications 17 18 16 18 16 15 14 14 13 17 16 68 56 Professional fees 87 100 89 79 76 91 75 66 66 87 76 344 298 Other expenses Advertising & business development 38 77 49 51 35 57 40 43 35 38 35 212 175 Capital and payroll taxes 11 10 11 9 9 9 9 9 9 11 9 39 36 Other 99 101 91 93 73 85 91 82 76 99 73 358 334 148 188 151 153 117 151 140 134 120 148 117 609 545 1,920 1,949 1,806 1,800 1,620 1,581 1,534 1,472 1,449 1,920 1,620 7,175 6,036 (1) For additional information on non -GAAP financial measures, see pages 15 and 16 in this document and the Financial Reporting Method section in the Report to Sha reholders for the First Quarter of 2026, which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca .
Slide 21 — Consolidated Balance Sheets
National Bank of Canada – Supplementary Financial Information 21 Consolidated Balance Sheets (millions of Canadian dollars) 2026 2025 2024 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Assets Cash and deposits with financial institutions 36,768 27,916 29,561 31,422 34,608 31,549 32,489 29,678 37,399 Securities 194,634 188,747 178,915 168,643 159,086 145,165 144,275 130,440 130,065 Securities purchased under reverse repurchase agreements and securities borrowed 39,846 27,091 23,388 20,836 15,229 16,265 13,879 21,157 12,926 Loans Residential mortgage - insured 48,458 48,008 46,988 46,944 44,740 43,579 42,526 40,938 40,200 - uninsured 66,049 65,921 64,337 61,563 52,899 51,430 50,431 49,147 48,324 Personal 50,288 50,173 48,790 47,533 46,772 46,883 46,951 46,716 46,307 Credit card 3,015 3,022 2,897 2,835 2,710 2,761 2,692 2,644 2,541 Business and government 138,519 137,630 131,715 128,791 100,982 99,720 98,107 93,028 88,363 Customers' liability under acceptances − − − − − − 137 3,508 5,633 Allowances for credit losses (2,209) (2,131) (1,984) (1,938) (1,483) (1,341) (1,295) (1,211) (1,211) 304,120 302,623 292,743 285,728 246,620 243,032 239,549 234,770 230,157 Other assets 30,503 30,542 28,014 29,565 28,290 26,215 23,741 25,645 23,380 Total assets 605,871 576,919 552,621 536,194 483,833 462,226 453,933 441,690 433,927 Liabilities and equity Deposits Personal 125,878 124,417 121,921 122,008 98,861 95,181 94,186 92,736 91,064 Business and government 313,895 297,512 274,461 258,089 246,450 232,730 220,915 209,805 204,424 Deposit -taking institutions 6,101 6,074 5,904 7,877 5,784 5,634 5,486 4,340 4,609 445,874 428,003 402,286 387,974 351,095 333,545 320,587 306,881 300,097 Other Acceptances − − − − − − 137 3,508 5,633 Obligations related to securities sold short 11,448 13,257 13,823 13,871 11,575 10,873 11,974 10,880 16,140 Obligations related to securities sold under repurchase agreements and securities loaned 58,661 41,356 46,031 40,984 37,359 38,177 41,781 41,494 37,313 Derivative financial instruments 15,356 15,984 15,392 18,096 18,724 15,760 17,682 19,164 17,030 Liabilities related to transferred receivables 28,666 30,577 28,452 29,403 28,112 28,377 27,035 26,626 25,682 Other liabilities 9,219 10,541 9,832 10,139 8,307 8,686 8,321 7,570 7,382 123,350 111,715 113,530 112,493 104,077 101,873 106,930 109,242 109,180 Subordinated debt 3,430 3,432 3,429 2,822 2,265 1,258 1,254 1,237 749 126,780 115,147 116,959 115,315 106,342 103,131 108,184 110,479 109,929 Equity Equity attributable to the Bank's shareholders and holders of other equity instruments Preferred shares and other equity instruments 2,614 3,114 3,114 3,114 3,150 3,150 3,150 3,150 3,150 Common shares 9,826 9,865 9,865 9,805 3,485 3,463 3,442 3,413 3,347 Contributed surplus 133 137 124 113 84 85 69 64 63 Retained earnings 20,471 20,366 20,110 19,813 19,241 18,633 18,234 17,368 17,042 Accumulated other comprehensive income 173 287 162 59 435 219 266 334 297 33,217 33,769 33,375 32,904 26,395 25,550 25,161 24,329 23,899 Non-controlling interests − − 1 1 1 − 1 1 2 33,217 33,769 33,376 32,905 26,396 25,550 25,162 24,330 23,901 Total liabilities & equity 605,871 576,919 552,621 536,194 483,833 462,226 453,933 441,690 433,927 Deposits excluding wholesale funding and other Deposits 445,874 428,003 402,286 387,974 351,095 333,545 320,587 306,881 300,097 Less: deposit -taking institutions 6,101 6,074 5,904 7,877 5,784 5,634 5,486 4,340 4,609 Less: wholesale funding 116,497 104,100 93,455 85,871 81,167 72,817 67,338 62,949 59,625 Less: subscription receipts related to the acquisition of CWB 1,040 998 999 323,276 317,829 302,927 294,226 263,104 254,096 246,764 239,592 235,863
Slide 22 — Consolidated Statements of Changes in Equity
National Bank of Canada – Supplementary Financial Information 22 Consolidated Statements of Changes in Equity (millions of Canadian dollars) 2026 2025 2024 YTD Full Year Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 2026 2025 2025 2024 Preferred shares and other equity instruments at beginning 3,114 3,114 3,114 3,150 3,150 3,150 3,150 3,150 3,150 3,114 3,150 3,150 3,150 Issuances of preferred shares and other equity instruments − − − 264 − − − − − − − 264 − Redemption of preferred shares and other equity instruments for cancellation (500) − − (300) − − − − − (500) − (300) − Preferred shares and other equity instruments at end 2,614 3,114 3,114 3,114 3,150 3,150 3,150 3,150 3,150 2,614 3,150 3,114 3,150 Common shares at beginning 9,865 9,865 9,805 3,485 3,463 3,442 3,413 3,347 3,294 9,865 3,463 3,463 3,294 Issuances of common shares pursuant to the Stock Option Plan 74 29 51 6 28 12 31 52 51 74 28 114 146 Issuances of common shares related to the CWB acquisition − − − 6,330 − − − − − − − 6,330 − Repurchases of common shares for cancellation (90) (35) − − − − − − − (90) − (35) − Impact of shares purchased or sold for trading (23) 6 9 (16) (6) 9 (2) 14 2 (23) (6) (7) 23 Common shares at end 9,826 9,865 9,865 9,805 3,485 3,463 3,442 3,413 3,347 9,826 3,485 9,865 3,463 Contributed surplus at beginning 137 124 113 84 85 69 64 63 68 137 85 85 68 Stock option expense 6 6 7 6 5 4 4 5 4 6 5 24 17 Stock options exercised (11) (4) (11) (1) (3) (1) (4) (5) (6) (11) (3) (19) (16) Replacement options related to the CWB acquisition − − − 29 − − − − − − − 29 − Other 1 11 15 (5) (3) 13 5 1 (3) 1 (3) 18 16 Contributed surplus at end 133 137 124 113 84 85 69 64 63 133 84 137 85 Retained earnings at beginning 20,366 20,110 19,813 19,241 18,633 18,234 17,368 17,042 16,650 20,366 18,633 18,633 16,650 Net income attributable to the Bank's shareholders and holders of other equity instruments 1,254 1,059 1,065 896 997 955 1,033 907 922 1,254 997 4,017 3,817 Dividends on preferred shares and distributions on other equity instruments (42) (46) (47) (48) (45) (45) (45) (42) (43) (42) (45) (186) (175) Dividends on common shares (484) (463) (463) (448) (389) (374) (374) (361) (359) (484) (389) (1,763) (1,468) Premium paid on common shares repurchased for cancellation (529) (178) − − − − − − − (529) − (178) − Issuance expenses for shares and other equity instruments, net of income taxes − (2) 1 (11) − − − − − − − (12) − Remeasurements of pension plans and other post -employment benefit plans (41) (15) (122) 94 4 (68) 167 (24) 8 (41) 4 (39) 83 Net gains (losses) on equity securities designated at fair value through other comprehensive income 6 − 65 (27) 17 5 7 9 22 6 17 55 43 Net fair value change attributable to the credit risk on financial liabilities designated at fair value through profit or loss (63) (105) (207) 109 18 (80) 63 (168) (165) (63) 18 (185) (350) Impact of a financial liability resulting from put options written to non-controlling interests − 1 − (1) − 7 10 − 1 − − − 18 Other 4 5 5 8 6 (1) 5 5 6 4 6 24 15 Retained earnings at end 20,471 20,366 20,110 19,813 19,241 18,633 18,234 17,368 17,042 20,471 19,241 20,366 18,633 Accumulated other comprehensive income at beginning 287 162 59 435 219 266 334 297 420 287 219 219 420 Net foreign currency translation adjustments (171) 66 31 (312) 249 52 18 117 (174) (171) 249 34 13 Net change in unrealized gains (losses) on debt securities at fair value through other comprehensive income 59 61 35 (31) 4 (23) 8 (24) 48 59 4 69 9 Net change in gains (losses) on instruments designated as cash flow hedges (2) (2) 37 (33) (37) (76) (94) (56) 3 (2) (37) (35) (223) Accumulated other comprehensive income at end 173 287 162 59 435 219 266 334 297 173 435 287 219 Equity attributable to the Bank's shareholders and holders of other equity instruments 33,217 33,769 33,375 32,904 26,395 25,550 25,161 24,329 23,899 33,217 26,395 33,769 25,550 Non-controlling interests at beginning − 1 1 1 − 1 1 2 2 − − − 2 Net income attributable to non -controlling interests − − − − − − − (1) − − − − (1) Others − (1) − − 1 (1) − − − − 1 − (1) Non-controlling interests at end − − 1 1 1 − 1 1 2 − 1 − − Equity 33,217 33,769 33,376 32,905 26,396 25,550 25,162 24,330 23,901 33,217 26,396 33,769 25,550
Slide 23 — Consolidated Statements of Comprehensive Income
National Bank of Canada – Supplementary Financial Information 23 Consolidated Statements of Comprehensive Income (millions of Canadian dollars) 2026 2025 2024 YTD Full Year Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 2026 2025 2025 2024 Net income 1,254 1,059 1,065 896 997 955 1,033 906 922 1,254 997 4,017 3,816 Other comprehensive income, net of income taxes Items that may be subsequently reclassified to net income Net foreign currency translation adjustments Net unrealized foreign currency translation gains (losses) on investments in foreign operations (347) 137 60 (589) 453 89 31 203 (243) (347) 453 61 80 Impact of hedging net foreign currency translation gains (losses) 176 (71) (29) 277 (204) (37) (13) (86) 69 176 (204) (27) (67) (171) 66 31 (312) 249 52 18 117 (174) (171) 249 34 13 Net change in debt securities at fair value through other comprehensive income Net unrealized gains (losses) on debt securities at fair value through other comprehensive income 64 72 48 (14) 22 12 23 (12) 45 64 22 128 68 Net (gains) losses on debt securities at fair value through other comprehensive income reclassified to net income (5) (11) (13) (17) (18) (35) (15) (12) 3 (5) (18) (59) (59) 59 61 35 (31) 4 (23) 8 (24) 48 59 4 69 9 Net change in cash flow hedges Net gains (losses) on derivative financial instruments designated as cash flow hedges (14) (4) 46 (14) (15) (44) (60) (25) 29 (14) (15) 13 (100) Net (gains) losses on designated derivative financial instruments reclassified to net income 12 2 (9) (19) (22) (32) (34) (31) (26) 12 (22) (48) (123) (2) (2) 37 (33) (37) (76) (94) (56) 3 (2) (37) (35) (223) Items that will not be subsequently reclassified to net income Remeasurements of pension plans and other post -employment benefit plans (41) (15) (122) 94 4 (68) 167 (24) 8 (41) 4 (39) 83 Net gains (losses) on equity securities designated at fair value through other comprehensive income 6 − 65 (27) 17 5 7 9 22 6 17 55 43 Net fair value change attributable to the credit risk on financial liabilities designated at fair value through profit or loss (63) (105) (207) 109 18 (80) 63 (168) (165) (63) 18 (185) (350) (98) (120) (264) 176 39 (143) 237 (183) (135) (98) 39 (169) (224) Total other comprehensive income, net of income taxes (212) 5 (161) (200) 255 (190) 169 (146) (258) (212) 255 (101) (425) Comprehensive income 1,042 1,064 904 696 1,252 765 1,202 760 664 1,042 1,252 3,916 3,391 Comprehensive income attributable to Bank shareholders and holders of other equity instruments 1,042 1,064 904 696 1,252 765 1,202 761 664 1,042 1,252 3,916 3,392 Non -controlling interests − − − − − − − (1) − − − − (1)
Slide 24 — Gross Loans, Gross Impaired Loans and Allowances for Credit Losses by Borrower Category
National Bank of Canada – Supplementary Financial Information 24 Gross Loans, Gross Impaired Loans and Allowances for Credit Losses by Borrower Category (1) (millions of Canadian dollars) 2026 2025 Q1 Q4 Q3 Gross loans Gross impaired loans (2) Allowances for credit losses on impaired loans (3) Provisions for credit losses on impaired loans Gross loans Gross impaired loans (2) Allowances for credit losses on impaired loans (3) Provisions for credit losses on impaired loans Gross loans Gross impaired loans (2) Allowances for credit losses on impaired loans (3) Provisions for credit losses on impaired loans Residential mortgages (4) 125,372 959 186 21 123,318 910 174 22 119,619 853 158 3 Qualifying revolving retail 4,470 22 15 35 4,454 20 14 35 4,348 27 20 32 Other retail (5) 18,983 503 226 58 19,193 474 199 58 18,566 452 189 55 Total – Retail 148,825 1,484 427 114 146,965 1,404 387 115 142,533 1,332 367 90 Agriculture 11,766 146 13 (1) 11,590 146 19 (3) 11,289 157 20 5 Oil & Gas 2,553 12 3 − 2,653 12 3 − 2,745 12 3 (7) Mining 2,434 63 43 23 1,971 60 20 2 1,754 40 17 − Utilities 12,443 93 4 − 12,389 98 4 4 11,752 − − − Utilities excluding Pipelines 10,577 93 4 − 10,656 98 4 4 10,036 − − − Pipelines 1,866 − − − 1,733 − − − 1,716 − − − Construction Non -Real Estate (6) 2,087 42 33 1 2,179 41 32 1 2,433 40 31 − Manufacturing 9,605 231 118 34 9,926 269 121 6 9,833 282 115 19 Wholesale 4,926 61 27 − 4,732 67 27 13 4,706 55 16 3 Retail 5,736 135 58 (3) 6,000 143 57 25 6,119 87 34 11 Transportation 6,168 124 26 11 6,417 119 18 6 6,254 128 14 5 Communications 3,798 28 12 (3) 3,524 30 11 (1) 3,242 32 12 (7) Financial Services (7) 16,092 59 22 17 15,833 21 5 3 12,872 20 1 − Real Estate and Construction Real Estate (8) 43,815 608 108 18 43,927 612 89 24 43,966 538 64 18 Professional Services 4,074 33 15 (1) 4,099 36 16 3 4,263 27 13 6 Education & Health Care 4,819 31 7 (1) 4,907 31 12 1 4,894 41 20 − Other Services 13,055 125 42 9 13,066 104 34 3 13,014 89 30 4 Government 1,963 − − − 2,136 − − − 1,801 − − − Other 8,940 − − (1) 9,225 1 1 1 8,282 − − − ABA Bank (7) 2,885 122 29 3 2,827 130 34 3 2,677 112 30 4 Total – Non -retail 157,159 1,913 560 106 157,401 1,920 503 91 151,896 1,660 420 61 Total excluding Credigy's POCI loans (9)(10) 305,984 3,397 987 220 304,366 3,324 890 206 294,429 2,992 787 151 Credigy's POCI loans 345 345 (76) 4 388 388 (82) 4 298 298 (85) 2 306,329 3,742 911 224 304,754 3,712 808 210 294,727 3,290 702 153 Performing (11) – Retail − − 668 24 650 17 633 17 Performing and impaired stage 3 (11) – Non -retail − − 963 (4) 968 17 950 33 Total 306,329 3,742 2,542 244 304,754 3,712 2,426 244 294,727 3,290 2,285 203 (1) The distribution is made according to the categories of borrowers under the Basel asset classes. (2) All loans classified in Stage 3 of the expected credit loss model and the POCI loans are impaired loans. (3) Allowances for credit losses on drawn amounts. (4) Includes residential mortgages on one -to-four-unit dwellings (Basel definition) and home equity lines of credit. (5) Includes consumer loans and other retail loans but excludes SME loans which are included in Non -retail portfolios. (6) Includes civil engineering loans, public -private partnership loans, and project finance loans. (7) The presentation was changed in Q1 2026 to exclude the ABA Bank non -retail portfolios from the Financial services category and to present them separately. Comparative figures have been reclassi fied. (8) Includes residential mortgages on dwellings of five or more units and SME loans. (9) For additional information on non -GAAP financial measures, see the Financial Reporting Method section in the Report to Shareholders for the First Quarter of 20 26, which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca . (10) The presentation was changed in Q2 2025 and the comparative figures were not adjusted to reflect the change as the amoun ts were not considered significant. Prior Q2 2025, the amounts also excluded POCI loans acquired from SVB in Q4 2023 (Q1 2025 : $21 million, Q4 2024: $26 million), allowances on SVB’s POCI loans (Q1 2025: $7 million, Q4 2024: $4 million) and PCL on SVB’s POCI loans (Q1 2025: $1 million, Q4 2024: $(1) million). (11) Includes other financial assets at amortized cost and off -balance -sheet commitments.
Slide 25 — Gross Loans, Gross Impaired Loans and Allowances for Credit Losses by Borrower Category
National Bank of Canada – Supplementary Financial Information 25 Gross Loans, Gross Impaired Loans and Allowances for Credit Losses by Borrower Category (1) (continued) (millions of Canadian dollars) 2025 2024 Q2 Q1 Q4 Gross loans Gross impaired loans (2) Allowances for credit losses on impaired loans (3) Provisions for credit losses on impaired loans Gross loans Gross impaired loans (2) Allowances for credit losses on impaired loans (3) Provisions for credit losses on impaired loans Gross loans Gross impaired loans (2) Allowances for credit losses on impaired loans (3) Provisions for credit losses on impaired loans Residential mortgages (4) 114,807 796 158 18 106,340 725 156 13 104,665 647 138 20 Qualifying revolving retail 4,258 27 20 28 4,087 28 21 32 4,148 27 21 31 Other retail (5) 18,018 415 169 40 17,983 387 165 53 17,919 336 140 45 Total – Retail 137,083 1,238 347 86 128,410 1,140 342 98 126,732 1,010 299 96 Agriculture 10,906 118 15 1 9,318 80 14 3 9,192 84 16 1 Oil & Gas 2,959 9 − (2) 1,675 − − − 1,913 − − − Mining 2,111 38 17 − 1,960 39 18 − 2,062 38 17 − Utilities 11,495 − − − 10,958 − − − 12,528 − − − Utilities excluding Pipelines 9,793 − − − 9,523 − − − 9,144 − − − Pipelines 1,702 − − − 1,435 − − − 3,384 − − − Construction Non -Real Estate (6) 2,417 40 31 − 1,998 39 31 − 1,864 38 31 − Manufacturing 9,585 304 162 94 8,239 158 62 18 8,064 93 45 28 Wholesale 4,584 61 23 1 3,444 47 24 7 3,145 48 17 (2) Retail 6,097 147 17 8 4,253 27 8 4 4,229 13 6 − Transportation 5,922 131 16 10 3,447 54 8 2 3,253 71 6 (1) Communications 3,012 30 9 (11) 2,784 19 10 41 2,542 7 6 1 Financial Services (7) 12,366 23 − (1) 11,326 1 1 − 10,633 1 1 − Real Estate and Construction Real Estate (8) 42,938 405 48 10 31,873 184 31 10 30,848 113 26 10 Professional Services 4,554 24 6 4 3,828 9 3 − 3,871 10 3 2 Education & Health Care 4,874 74 20 (3) 3,545 60 19 6 3,487 49 13 − Other Services 12,764 61 25 17 7,418 11 7 − 7,356 11 7 1 Government 1,751 − − − 2,123 − − − 1,853 − − − Other 9,462 1 − (1) 8,549 1 1 1 8,268 1 − − ABA Bank (7) 2,477 101 27 5 2,581 98 22 5 2,142 65 15 9 Total – Non -retail 150,274 1,567 416 132 119,319 827 259 97 117,250 642 209 49 Total excluding Credigy's POCI loans (9)(10) 287,357 2,805 763 218 247,729 1,967 601 195 243,982 1,652 508 145 Credigy's POCI loans 309 309 (86) 11 374 374 (96) 1 391 391 (94) 3 287,666 3,114 677 229 248,103 2,341 505 196 244,373 2,043 414 148 Performing (11) – Retail 616 31 598 25 565 14 Performing and impaired stage 3 (11) – Non -retail 916 285 628 33 594 − Total 287,666 3,114 2,209 545 248,103 2,341 1,731 254 244,373 2,043 1,573 162 (1) The distribution is made according to the categories of borrowers under the Basel asset classes. (2) All loans classified in Stage 3 of the expected credit loss model and the POCI loans are impaired loans. (3) Allowances for credit losses on drawn amounts. (4) Includes residential mortgages on one -to-four-unit dwellings (Basel definition) and home equity lines of credit. (5) Includes consumer loans and other retail loans but excludes SME loans which are included in Non -retail portfolios. (6) Includes civil engineering loans, public -private partnership loans, and project finance loans. (7) The presentation was changed in Q1 2026 to exclude the ABA Bank non -retail portfolios from the Financial services category and to present them separately. Comparative figures have been reclassi fied. (8) Includes residential mortgages on dwellings of five or more units and SME loans. (9) For additional information on non -GAAP financial measures, see the Financial Reporting Method section in the Report to Shareholders for the First Quarter of 20 26, which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca . (10) The presentation was changed in Q2 2025 and the comparative figures were not adjusted to reflect the change as the amoun ts were not considered significant. Prior Q2 2025, the amounts also excluded POCI loans acquired from SVB in Q4 2023 (Q1 2025 : $21 million, Q4 2024: $26 million), allowances on SVB’s POCI loans (Q1 2025: $7 million, Q4 2024: $4 million) and PCL on SVB’s POCI loans (Q1 2025: $1 million, Q4 2024: $(1) million). (11) Includes other financial assets at amortized cost and off -balance -sheet commitments.
Slide 26 — Residential Mortgages Portfolios Information
National Bank of Canada – Supplementary Financial Information 26 Residential Mortgages Portfolios Information (millions of Canadian dollars, except as noted) Q1 2026 Residential Mortgages Portfolios Canadian Residential Mortgages Portfolios Per Region Average LTV for mortgages originated and acquired during the quarter (1) Residential Mortgages (2) exposure groups by LTV buckets (1)(3) Residential Mortgage Portfolios (remaining amortization) (1)(4) Retail – Canada Insured Uninsured HELOC Total Retail Non -Retail (5) Total Uninsured (6) HELOC (7) Canada Canada Quebec 12,228 10.8% 25,574 22.5% 22,118 19.5% 59,920 52.8% 59,920 11,633 71,553 69% 68% 30 % or less 8.3% 0 - 19 years 26.5% Ontario 8,608 7.6% 18,878 16.6% 6,362 5.6% 33,848 29.8% 33,848 2,809 36,657 69% 66% 31 % - 60 % 37.1% 20 - 24 years 37.8% Alberta 5,034 4.4% 2,360 2.1% 888 0.8% 8,282 7.3% 8,282 1,681 9,963 68% 63% 61 % - 70 % 17.0% 25 - 29 years 34.1% British Columbia 1,718 1.5% 2,894 2.5% 1,888 1.7% 6,500 5.7% 6,500 1,951 8,451 64% 63% 71 % - 80 % 19.9% 30 - 34 years 1.5% New Brunswick 517 0.4% 748 0.7% 314 0.3% 1,579 1.4% 1,579 1,292 2,871 66% 64% 81 % - 90 % 10.0% 35 years and + 0.1% Saskatchewan 810 0.7% 317 0.3% 168 0.1% 1,295 1.1% 1,295 297 1,592 71% 61% 91 % - 95 % 2.9% Total 100.0% Manitoba 463 0.4% 252 0.2% 114 0.1% 829 0.7% 829 597 1,426 72% 61% 96 % or more 4.8% Other Canadian provinces (8) 759 0.7% 436 0.4% 138 0.1% 1,333 1.2% 1,333 667 2,000 68% 67% Total 100.0% 30,137 26.5% 51,459 45.3% 31,990 28.2% 113,586 100.0% 113,586 20,927 134,513 69% 67% Retail – USA, Cambodia and others 11,786 11,786 Non -retail – Other residential mortgages (5)(9) 18,321 2,804 21,125 48,458 33.1% 66,049 45.1% 31,990 21.8% 146,497 100.0% Q4 2025 Residential Mortgages Portfolios Canadian Residential Mortgages Portfolios Per Region Average LTV for mortgages originated and acquired during the quarter (1) Residential Mortgages (2) exposure groups by LTV buckets (1)(3) Residential Mortgage Portfolios (remaining amortization) (1)(4) Retail – Canada Insured Uninsured HELOC Total Retail Non -Retail (5) Total Uninsured (6) HELOC (7) Canada Canada Quebec 11,986 10.7% 24,605 22.0% 21,645 19.4% 58,236 52.1% 58,236 11,619 69,855 69% 69% 30 % or less 8.7% 0 - 19 years 26.5% Ontario 8,502 7.6% 18,615 16.7% 6,431 5.7% 33,548 30.0% 33,548 2,739 36,287 71% 64% 31 % - 60 % 39.0% 20 - 24 years 38.5% Alberta 5,183 4.6% 2,336 2.1% 890 0.8% 8,409 7.5% 8,409 1,717 10,126 63% 65% 61 % - 70 % 17.4% 25 - 29 years 32.8% British Columbia 1,727 1.6% 2,941 2.6% 1,878 1.7% 6,546 5.9% 6,546 3,027 9,573 66% 62% 71 % - 80 % 19.8% 30 - 34 years 2.1% New Brunswick 521 0.5% 723 0.6% 312 0.3% 1,556 1.4% 1,556 1,262 2,818 68% 67% 81 % - 90 % 8.7% 35 years and + 0.1% Saskatchewan 832 0.7% 314 0.3% 168 0.2% 1,314 1.2% 1,314 347 1,661 73% 60% 91 % - 95 % 2.6% Total 100.0% Manitoba 475 0.4% 240 0.2% 118 0.1% 833 0.7% 833 682 1,515 69% 57% 96 % or more 3.8% Other Canadian provinces (8) 747 0.7% 422 0.4% 138 0.1% 1,307 1.2% 1,307 583 1,890 68% 62% Total 100.0% 29,973 26.8% 50,196 44.9% 31,580 28.3% 111,749 100.0% 111,749 21,976 133,725 69% 67% Retail – USA, Cambodia and others 11,569 11,569 Non -retail – Other residential mortgages (5)(9) 18,035 4,156 22,191 48,008 33.0% 65,921 45.3% 31,580 21.7% 145,509 100.0% Q3 2025 Residential Mortgages Portfolios Canadian Residential Mortgages Portfolios Per Region Average LTV for mortgages originated and acquired during the quarter (1) Residential Mortgages (2) exposure groups by LTV buckets (1)(3) Residential Mortgage Portfolios (remaining amortization) (1)(4) Retail – Canada Insured Uninsured HELOC Total Retail Non -Retail (5) Total Uninsured (6) HELOC (7) Canada Canada Quebec 11,592 10.6% 23,215 21.3% 20,888 19.2% 55,695 51.1% 55,695 11,386 67,081 69% 69% 30 % or less 9.2% 0 - 19 years 26.6% Ontario 8,521 7.8% 18,216 16.7% 6,437 5.9% 33,174 30.4% 33,174 2,874 36,048 69% 66% 31 % - 60 % 40.4% 20 - 24 years 39.1% Alberta 5,298 4.9% 2,279 2.1% 895 0.8% 8,472 7.8% 8,472 2,061 10,533 70% 64% 61 % - 70 % 17.5% 25 - 29 years 31.7% British Columbia 1,767 1.6% 2,951 2.7% 1,882 1.7% 6,600 6.0% 6,600 3,202 9,802 64% 59% 71 % - 80 % 20.1% 30 - 34 years 2.5% New Brunswick 512 0.5% 697 0.6% 306 0.3% 1,515 1.4% 1,515 1,232 2,747 69% 69% 81 % - 90 % 7.4% 35 years and + 0.1% Saskatchewan 842 0.8% 306 0.3% 174 0.2% 1,322 1.3% 1,322 331 1,653 72% 70% 91 % - 95 % 2.5% Total 100.0% Manitoba 487 0.4% 232 0.3% 121 0.1% 840 0.8% 840 653 1,493 72% 69% 96 % or more 2.9% Other Canadian provinces (8) 731 0.7% 404 0.4% 137 0.1% 1,272 1.2% 1,272 581 1,853 68% 62% Total 100.0% 29,750 27.3% 48,300 44.4% 30,840 28.3% 108,890 100.0% 108,890 22,320 131,210 69% 68% Retail – USA, Cambodia and others 10,729 10,729 Non -retail – Other residential mortgages (5)(9) 17,238 5,308 22,546 46,988 33.1% 64,337 45.3% 30,840 21.6% 142,165 100.0% (1) Excluding non -retail and non -Canadian residential mortgages. (2) Includes HELOC. (3) Property values are updated using Teranet National Bank sub -indices by area and property type. (4) Excludes amortization for the HELOC's amortized portion. The remaining amortization period is being disclosed. (5) Includes non -retail residential mortgages (5 units and more) and commercial residential mortgages of 1 to 4 units. According to the catego ries of borrowers under the Basel asset classes. (6) LTV is calculated using the outstanding amount and weighted by the outstanding of each loan. (7) LTV is calculated using the authorized amount and weighted by the authorized amount of each line. Includes both revolving and amortized portions. (8) Others include: Prince Edward Island, Nova Scotia, Newfoundland and Labrador, Northwest Territories, Yukon. (9) Also includes POCI residential mortgages (USA).
Slide 27 — Residential Mortgages Portfolios Information
National Bank of Canada – Supplementary Financial Information 27 Residential Mortgages Portfolios Information (continued) (millions of Canadian dollars, except as noted) Q2 2025 Residential Mortgages Portfolios Canadian Residential Mortgages Portfolios Per Region Average LTV for mortgages originated and acquired during the quarter (1) Residential Mortgages (2) exposure groups by LTV buckets (1)(3) Residential Mortgages Portfolios (remaining amortization) (1)(4) Retail – Canada Insured Uninsured HELOC Total Retail Non -Retail (5) Total Uninsured (6) HELOC (7) Canada Canada Quebec 11,114 10.6% 21,651 20.7% 20,230 19.3% 52,995 50.6% 52,995 11,792 64,787 68% 68% 30 % or less 9.1% 0 - 19 years 27.5% Ontario 8,246 7.9% 17,549 16.8% 6,338 6.0% 32,133 30.7% 32,133 3,465 35,598 71% 65% 31 % - 60 % 40.4% 20 - 24 years 40.4% Alberta 5,232 5.0% 2,201 2.1% 843 0.8% 8,276 7.9% 8,276 2,093 10,369 73% 68% 61 % - 70 % 17.5% 25 - 29 years 30.2% British Columbia 1,736 1.6% 2,926 2.8% 1,847 1.8% 6,509 6.2% 6,509 3,214 9,723 68% 58% 71 % - 80 % 20.6% 30 - 34 years 1.8% New Brunswick 498 0.5% 668 0.6% 299 0.3% 1,465 1.4% 1,465 1,207 2,672 69% 66% 81 % - 90 % 7.2% 35 years and + 0.1% Saskatchewan 835 0.8% 312 0.3% 172 0.2% 1,319 1.3% 1,319 413 1,732 72% 68% 91 % - 95 % 2.3% Total 100.0% Manitoba 481 0.5% 227 0.2% 122 0.1% 830 0.8% 830 713 1,543 69% 70% 96 % or more 2.9% Others Canadian provinces (8) 714 0.6% 378 0.3% 139 0.2% 1,231 1.1% 1,231 570 1,801 68% 66% Total 100.0% 28,856 27.5% 45,912 43.8% 29,990 28.7% 104,758 100.0% 104,758 23,467 128,225 70% 67% Retail – USA, Cambodia and others 10,049 10,049 Non -Retail – Other residential mortgages (5)(9) 18,088 5,602 23,690 46,944 33.9% 61,563 44.5% 29,990 21.6% 138,497 100.0% Q1 2025 Residential Mortgages Portfolios Canadian Residential Mortgages Portfolios Per Region Average LTV for mortgages originated and acquired during the quarter (1) Residential Mortgages (2) exposure groups by LTV buckets (1)(3) Residential Mortgages Portfolios (remaining amortization) (1)(4) Retail – Canada Insured Uninsured HELOC Total Retail Non -Retail (5) Total Uninsured (6) HELOC (7) Canada Canada Quebec 11,119 11.6% 20,928 21.8% 19,868 20.7% 51,915 54.1% 51,915 11,514 63,429 68% 67% 30 % or less 9.3% 0 - 19 years 28.7% Ontario 7,658 8.0% 14,582 15.2% 6,266 6.5% 28,506 29.7% 28,506 3,084 31,590 71% 63% 31 % - 60 % 41.5% 20 - 24 years 42.4% Alberta 4,708 4.9% 1,041 1.1% 735 0.8% 6,484 6.8% 6,484 1,502 7,986 73% 70% 61 % - 70 % 17.0% 25 - 29 years 27.3% British Columbia 1,592 1.7% 1,709 1.8% 1,697 1.8% 4,998 5.3% 4,998 1,627 6,625 65% 62% 71 % - 80 % 18.9% 30 - 34 years 1.5% New Brunswick 495 0.5% 547 0.6% 297 0.3% 1,339 1.4% 1,339 1,039 2,378 65% 66% 81 % - 90 % 7.7% 35 years and + 0.1% Saskatchewan 776 0.8% 136 0.1% 161 0.2% 1,073 1.1% 1,073 307 1,380 75% 76% 91 % - 95 % 2.5% Total 100.0% Manitoba 434 0.5% 129 0.1% 115 0.1% 678 0.7% 678 694 1,372 70% 67% 96 % or more 3.1% Others Canadian provinces (8) 697 0.6% 211 0.2% 138 0.1% 1,046 0.9% 1,046 562 1,608 71% 64% Total 100.0% 27,479 28.6% 39,283 40.9% 29,277 30.5% 96,039 100.0% 96,039 20,329 116,368 69% 66% Retail – USA, Cambodia and others 10,301 10,301 Non -Retail – Other residential mortgages (5)(9) 17,261 3,315 20,576 44,740 35.3% 52,899 41.7% 29,277 23.1% 126,916 100.0% Q4 2024 Residential Mortgages Portfolios Canadian Residential Mortgages Portfolios Per Region Average LTV for mortgages originated and acquired during the quarter (1) Residential Mortgages (2) exposure groups by LTV buckets (1)(3) Residential Mortgages Portfolios (remaining amortization) (1)(4) Retail – Canada Insured Uninsured HELOC Total Retail Non -Retail (5) Total Uninsured (6) HELOC (7) Canada Canada Quebec 11,158 11.7% 20,402 21.5% 19,855 20.9% 51,415 54.1% 51,415 11,218 62,633 68% 66% 30 % or less 9.6% 0 - 19 years 28.6% Ontario 7,469 7.9% 14,169 14.9% 6,369 6.7% 28,007 29.5% 28,007 2,959 30,966 72% 61% 31 % - 60 % 42.8% 20 - 24 years 43.0% Alberta 4,623 4.8% 1,033 1.1% 752 0.8% 6,408 6.7% 6,408 1,409 7,817 73% 70% 61 % - 70 % 16.7% 25 - 29 years 27.1% British Columbia 1,592 1.7% 1,741 1.8% 1,720 1.8% 5,053 5.3% 5,053 1,586 6,639 65% 62% 71 % - 80 % 19.3% 30 - 34 years 1.2% New Brunswick 486 0.5% 538 0.6% 298 0.3% 1,322 1.4% 1,322 941 2,263 71% 71% 81 % - 90 % 6.7% 35 years and + 0.1% Saskatchewan 766 0.8% 139 0.2% 164 0.2% 1,069 1.2% 1,069 276 1,345 71% 69% 91 % - 95 % 2.4% Total 100.0% Manitoba 421 0.5% 124 0.1% 124 0.1% 669 0.7% 669 687 1,356 69% 70% 96 % or more 2.5% Others Canadian provinces (8) 676 0.7% 204 0.2% 140 0.2% 1,020 1.1% 1,020 444 1,464 67% 71% Total 100.0% 27,191 28.6% 38,350 40.4% 29,422 31.0% 94,963 100.0% 94,963 19,520 114,483 70% 66% Retail – USA, Cambodia and others 9,702 9,702 Non -Retail – Other residential mortgages (5)(9) 16,388 3,378 19,766 43,579 35.0% 51,430 41.4% 29,422 23.6% 124,431 100.0% (1) Excluding non -retail and non -Canadian residential mortgages. (2) Includes HELOC. (3) Property values are updated using Teranet -National Bank sub -indices by area and property type. (4) Excludes amortization for the HELOC's amortized portion. The remaining amortization period is being disclosed. (5) Includes non -retail residential mortgages (5 units and more) and commercial residential mortgages of 1 to 4 units. According to the categ ories of borrowers under the Basel asset classes. (6) LTV is calculated using the outstanding amount and weighted by the outstanding of each loan. (7) LTV is calculated using the authorized amount and weighted by the authorized amount of each line. Includes both revolving and amortized portions. (8) Others include: Prince Edward Island, Nova Scotia, Newfoundland and Labrador, Northwest Territories, Yukon. (9) Also includes POCI residential mortgages (USA).
Slide 28 — Geographic Distribution of Gross Loans, Gross Impaired Loans and Allowances for Credit Losses
National Bank of Canada – Supplementary Financial Information 28 Geographic Distribution of Gross Loans, Gross Impaired Loans and Allowances for Credit Losses (1) (millions of Canadian dollars) 2026 2025 Q1 Q4 Q3 Gross loans (2) Gross impaired loans (3) Allowance for credit losses on impaired loans (4) Gross loans (2) Gross impaired loans (3) Allowance for credit losses on impaired loans (4) Gross loans (2) Gross impaired loans (3) Allowance for credit losses on impaired loans (4) Canada Residential mortgages (5) 113,586 266 17 111,749 250 15 108,890 222 15 Qualifying revolving retail 4,470 22 15 4,454 20 14 4,348 27 20 Other retail (6) 14,033 208 152 14,234 194 139 13,842 195 131 Non -retail (7) 135,035 1,696 528 135,604 1,689 466 131,557 1,543 385 267,124 2,192 712 266,041 2,153 634 258,637 1,987 551 United States Residential mortgages (5) 5,118 111 32 4,895 88 26 4,370 89 25 Qualifying revolving retail − − − − − − − − − Other retail (6) 1,451 15 13 1,408 14 12 1,261 15 13 Non -retail (7) 16,805 94 2 17,207 100 2 16,153 3 3 23,374 220 47 23,510 202 40 21,784 107 41 Europe Non -retail (7) 1,993 1 1 1,314 1 1 1,042 2 2 Others Residential mortgages (5) 6,668 582 137 6,674 572 133 6,359 542 118 Qualifying revolving retail − − − − − − − − − Other retail (6) 3,499 280 61 3,551 266 48 3,463 242 45 Non -retail (7) 3,326 122 29 3,276 130 34 3,144 112 30 13,493 984 227 13,501 968 215 12,966 896 193 Total excluding Credigy's POCI loans (8)(9) 305,984 3,397 987 304,366 3,324 890 294,429 2,992 787 Credigy's POCI loans 345 345 (76) 388 388 (82) 298 298 (85) 306,329 3,742 911 304,754 3,712 808 294,727 3,290 702 Performing (10) – Retail 668 650 633 Performing and impaired stage 3 (10) – Non -retail 963 968 950 306,329 3,742 2,542 304,754 3,712 2,426 294,727 3,290 2,285 2025 2024 Q2 Q1 Q4 Gross loans (2) Gross impaired loans (3) Allowance for credit losses on impaired loans (4) Gross loans (2) Gross impaired loans (3) Allowance for credit losses on impaired loans (4) Gross loans (2) Gross impaired loans (3) Allowance for credit losses on impaired loans (4) Canada Residential mortgages (5) 104,758 190 13 96,039 159 16 94,963 155 13 Qualifying revolving retail 4,258 27 20 4,087 28 21 4,148 27 21 Other retail (6) 13,351 182 120 13,040 168 107 12,993 157 94 Non -retail (7) 131,083 1,442 373 99,292 703 218 98,781 571 189 253,450 1,841 526 212,458 1,058 362 210,885 910 317 United States Residential mortgages (5) 3,870 87 24 3,946 76 23 3,677 75 22 Qualifying revolving retail − − − − − − − − − Other retail (6) 1,242 15 13 1,411 16 14 1,374 13 9 Non -retail (7) 15,263 21 14 16,154 22 16 14,994 2 2 20,375 123 51 21,511 114 53 20,045 90 33 Europe Non -retail (7) 1,038 3 2 834 4 3 896 4 3 Others Residential mortgages (5) 6,179 519 121 6,355 490 117 6,025 417 103 Qualifying revolving retail − − − − − − − − − Other retail (6) 3,425 218 36 3,532 203 44 3,552 166 37 Non -retail (7) 2,890 101 27 3,039 98 22 2,579 65 15 12,494 838 184 12,926 791 183 12,156 648 155 Total excluding Credigy's POCI loans (8)(9) 287,357 2,805 763 247,729 1,967 601 243,982 1,652 508 Credigy's POCI loans 309 309 (86) 374 374 (96) 391 391 (94) 287,666 3,114 677 248,103 2,341 505 244,373 2,043 414 Performing (10) – Retail 616 598 565 Performing and impaired stage 3 (10) – Non -retail 916 628 594 287,666 3,114 2,209 248,103 2,341 1,731 244,373 2,043 1,573 (1) Geographic information based on borrower address (country). (2) Gross loans comprise securitized assets. (3) All loans classified in Stage 3 of the expected credit loss model and the POCI loans are impaired loans. (4) Allowances for credit losses are based on drawn amounts. (5) Includes residential mortgages on one -to-four dwellings (Basel definition) and home equity lines of credit. (6) Includes consumer loans and other retail loans but excludes SME loans which are included in Non -retail portfolios. (7) Includes residential mortgages on dwellings of five or more units and SME loans. (8) For additional information on non -GAAP financial measures, see the Financial Reporting Method section in the Report to Shareholders for the First Quarter of 20 26, which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca . (9) The presentation was changed in Q2 2025 and the comparative figures were not adjusted to reflect the change as the amount s were not considered significant. Prior Q2 2025, the amounts also excluded POCI loans acquired from SVB in Q4 2023 (Q1 2025: $21 million, Q4 2024: $26 million) and allowances on SVB’s POCI loans (Q1 2025: $7 million, Q4 2024: $4 million). (10) Includes other financial assets at amortized cost and off -balance -sheet commitments.
Slide 29 — Impaired Loans by Business Segment
National Bank of Canada – Supplementary Financial Information 29 Impaired Loans by Business Segment (1) (millions of Canadian dollars, except as noted) 2026 2025 2024 Gross Impaired Loans (2) Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Personal and Commercial Personal Banking 477 442 421 386 336 327 306 279 256 Commercial Banking 1,548 1,531 1,409 1,274 533 451 441 411 314 Wealth Management 41 55 43 17 23 16 12 11 10 Capital Markets 221 226 119 188 192 122 84 67 75 U.S. Specialty Finance and International Credigy 126 102 104 102 92 88 64 54 51 ABA Bank 984 968 896 838 791 648 519 445 397 International − − − − − − − − − Other − − − − − − − − − Gross impaired loans excluding Credigy's POCI loans (3)(4) 3,397 3,324 2,992 2,805 1,967 1,652 1,426 1,267 1,103 Credigy's POCI loans 345 388 298 309 374 391 426 463 496 3,742 3,712 3,290 3,114 2,341 2,043 1,852 1,730 1,599 Gross impaired loans excluding Credigy's POCI loans as a % of total loans (4)(5) 1.11% 1.09% 1.02% 0.98% 0.79% 0.68% 0.59% 0.54% 0.48% Gross impaired loans as a % of total loans (6) 1.22% 1.22% 1.12% 1.08% 0.94% 0.84% 0.77% 0.73% 0.69% 2026 2025 2024 Net Impaired Loans (2)(6)(7) Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Personal and Commercial Personal Banking 300 281 261 237 196 203 194 179 170 Commercial Banking 1,100 1,114 1,065 1,000 361 302 271 254 153 Wealth Management 34 47 36 12 17 11 7 6 5 Capital Markets 138 175 74 74 129 78 54 57 20 U.S. Specialty Finance and International Credigy 81 64 66 65 55 57 39 32 29 ABA Bank 757 753 703 654 608 493 394 336 300 International − − − − − − − − − Other − − − − − − − − − Net impaired loans excluding Credigy's POCI loans (3)(4) 2,410 2,434 2,205 2,042 1,366 1,144 959 864 677 Credigy's POCI loans 421 470 383 395 470 485 523 562 599 2,831 2,904 2,588 2,437 1,836 1,629 1,482 1,426 1,276 Net impaired loans excluding Credigy's POCI loans as a % of total loans (4)(5) 0.79% 0.80% 0.75% 0.71% 0.55% 0.47% 0.40% 0.37% 0.29% Net impaired loans as a % of total loans (6) 0.93% 0.96% 0.88% 0.85% 0.74% 0.67% 0.62% 0.61% 0.55% (1) All loans classified in Stage 3 of the expected credit loss model and the POCI loans are impaired loans. (2) Including customers’ liability under acceptances for the quarters of 2024 (except Q4 2024). (3) For additional information on non -GAAP financial measures, see the Financial Reporting Method section in the Report to Shareholders for the First Quarter of 20 26, which is available on the Bank's website at nbc.ca or the SEDAR+ website at sedarplus.ca . (4) The presentation was changed in Q2 2025 and the comparative figures were not adjusted to reflect the change as the amount s were not considered significant. Prior Q2 2025, the amounts also excluded gross POCI loans acquired from SVB in Q4 2023 (Q1 2025: $21 million, Q4 2024: $26 million, Q3 2024: $31 million, Q2 2024: $34 million, Q1 2024: $39 million) and net SVB’s POCI loans (Q1 2025: $14 million, Q4 2024: $22 million, Q3 2024: $27 million, Q2 2024: $31 million, Q1 2024: $37 million). (5) For additional information on non -GAAP ratios, see the Financial Reporting Method section in the Report to Shareholders for the First Quarter of 2026, which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca . (6) For details on the composition of these measures, see the Glossary section in the Report to Shareholders for the First Qu arter of 2026, which is available on the Bank's website at nbc.ca or the SEDAR+ website at sedarplus.ca . (7) Net impaired loans are presented net of allowances for credit losses on drawn amount of impaired loans.
Slide 30 — Formation of Gross Impaired Loans Excluding Credigy's POCI Loans
National Bank of Canada – Supplementary Financial Information 30 Formation of Gross Impaired Loans Excluding Credigy's POCI Loans (1)(2) (millions of Canadian dollars) 2026 2025 2024 YTD Full Year Formation of Gross Impaired Loans Excluding Credigy's POCI Loans (1)(2)(3) (by sector) Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 2026 2025 2025 2024 Balance at beginning 3,324 2,992 2,805 1,967 1,652 1,426 1,267 1,103 1,024 3,324 1,652 1,652 1,024 Write-offs Personal and Commercial Personal Banking (23) (39) (21) (22) (21) (19) (14) (13) (11) (23) (21) (103) (57) Credit card (36) (33) (32) (32) (31) (29) (29) (27) (26) (36) (31) (128) (111) Commercial Banking (56) (24) (25) (15) (45) (42) (4) (44) (22) (56) (45) (109) (112) Wealth Management − − − − − − − − − − − − − Capital Markets − (2) (68) − − (5) − (45) (22) − − (70) (72) U.S. Specialty Finance and International Credigy (19) (19) (19) (20) (17) (18) (19) (17) (13) (19) (17) (75) (67) ABA Bank (9) (15) (8) (9) (1) − (1) − − (9) (1) (33) (1) International − − − − − (1) − − − − − − (1) Other − − − − − − − − − − − − − (143) (132) (173) (98) (115) (114) (67) (146) (94) (143) (115) (518) (421) Formation Personal and Commercial Personal Banking 58 60 56 72 30 40 41 36 47 58 30 218 164 Credit card 36 33 32 32 31 29 29 27 26 36 31 128 111 Commercial Banking 73 146 160 756 127 52 34 141 40 73 127 1,189 267 Wealth Management (14) 12 26 (6) 7 4 1 1 (3) (14) 7 39 3 Capital Markets (5) 109 (1) (4) 70 43 17 37 (13) (5) 70 174 84 U.S. Specialty Finance and International Credigy 43 17 21 30 21 42 29 20 26 43 21 89 117 ABA Bank 25 87 66 56 144 129 75 48 50 25 144 353 302 International − − − − − 1 − − − − − − 1 Other − − − − − − − − − − − − − 216 464 360 936 430 340 226 310 173 216 430 2,190 1,049 Balance at end 3,397 3,324 2,992 2,805 1,967 1,652 1,426 1,267 1,103 3,397 1,967 3,324 1,652 2026 2025 2024 YTD Full Year Formation of Gross Impaired Loans Excluding Credigy's POCI Loans (1)(2)(3) (by activity) Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 2026 2025 2025 2024 Balance at beginning 3,324 2,992 2,805 1,967 1,652 1,426 1,267 1,103 1,024 3,324 1,652 1,652 1,024 Classified as credit -impaired during the period (4) 587 734 691 1,141 597 452 407 449 347 587 597 3,163 1,655 Transferred to performing loans during the period (102) (85) (110) (83) (58) (57) (71) (80) (61) (102) (58) (336) (269) Net repayments (236) (199) (227) (62) (150) (63) (113) (70) (100) (236) (150) (638) (346) Disposals of loans − − − − − − − − − − − − − Write-offs (143) (132) (173) (98) (115) (114) (67) (146) (94) (143) (115) (518) (421) Exchange and other movements (33) 14 6 (60) 41 8 3 11 (13) (33) 41 1 9 Balance at end 3,397 3,324 2,992 2,805 1,967 1,652 1,426 1,267 1,103 3,397 1,967 3,324 1,652 (1) The presentation was changed in Q2 2025 and the comparative figures were not adjusted to reflect the change as the amount s were not considered significant. Prior Q2 2025, the amounts also excluded gross POCI loans acquired from SVB in Q4 2023 (Q1 2025: $21 million, Q4 2024: $26 million, Q3 2024: $31 million, Q2 2024: $34 million, Q1 2024: $39 million). (2) For additional information on non -GAAP financial measures, see the Financial Reporting Method section in the Report to Shareholders for the First Quater of 2026, which is available on the Bank’s website at nbc.ca or the SEDAR+ website at sedarplus.ca . (3) Included customer's liability under acceptances for the 2024 quarters (except Q4 2024). (4) The Q2 2025 total amount included $604 million of CWB's POCI loans acquired during Q2 2025.
Slide 31 — Reconciliation of Allowances for Credit Losses
National Bank of Canada – Supplementary Financial Information 31 Reconciliation of Allowances for Credit Losses (millions of Canadian dollars) 2026 2025 2024 YTD Full Year Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 2026 2025 2025 2024 Impaired (1) Balance at beginning 814 703 679 506 414 370 304 323 308 814 414 414 308 Provisions for credit losses 219 215 152 230 197 148 124 116 90 219 197 794 478 Write-offs (143) (132) (173) (98) (115) (114) (67) (146) (94) (143) (115) (518) (421) Disposals − − − − − − − − − − − − − Recoveries 30 27 48 54 11 11 12 11 22 30 11 140 56 Foreign exchange movements and other (8) 1 (3) (13) (1) (1) (3) − (3) (8) (1) (16) (7) Balance at end 912 814 703 679 506 414 370 304 323 912 506 814 414 Performing Balance at beginning 1,612 1,582 1,530 1,225 1,159 1,144 1,117 1,093 1,069 1,612 1,159 1,159 1,069 Provisions for credit losses 25 29 51 315 57 14 25 22 30 25 57 452 91 Write-offs − − − − − − − − − − − − − Disposals − − − − − − − (2) − − − − (2) Recoveries − − − − − − − − − − − − − Foreign exchange movements and other (7) 1 1 (10) 9 1 2 4 (6) (7) 9 1 1 Balance at end 1,630 1,612 1,582 1,530 1,225 1,159 1,144 1,117 1,093 1,630 1,225 1,612 1,159 Total allowances for credit losses by stage Impaired 912 814 703 679 506 414 370 304 323 Performing 1,630 1,612 1,582 1,530 1,225 1,159 1,144 1,117 1,093 2,542 2,426 2,285 2,209 1,731 1,573 1,514 1,421 1,416 Total allowances for credit losses Loans at amortized cost (2) Amounts drawn 2,209 2,131 1,984 1,938 1,483 1,341 1,295 1,211 1,211 Undrawn commitments (3) 257 236 240 224 200 188 179 172 166 Other (4) 76 59 61 47 48 44 40 38 39 2,542 2,426 2,285 2,209 1,731 1,573 1,514 1,421 1,416 Total allowances for credit losses by stage (excluding USSF&I) Impaired 716 643 557 544 389 326 321 275 309 Performing 1,357 1,359 1,356 1,311 1,002 956 950 932 918 2,073 2,002 1,913 1,855 1,391 1,282 1,271 1,207 1,227 (1) All loans classified in Stage 3 of the expected credit loss model and the POCI loans are impaired loans. (2) Including customers’ liability under acceptances for the quarters of 2024 (except Q4 2024). (3) The allowances for credit losses on undrawn commitments are reported in the Other liabilities item of the Consolidated Balance Sheet. (4) Includes other financial assets at amortized cost and off -balance -sheet items other than undrawn commitments.
Slide 32 — Provisions for Credit Losses
National Bank of Canada – Supplementary Financial Information 32 Provisions for Credit Losses (millions of Canadian dollars) 2026 2025 2024 YTD Full Year Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 2026 2025 2025 2024 Personal and Commercial Personal Banking: Impaired 37 37 30 26 36 29 25 26 20 37 36 129 100 Performing (1) 2 (3) 5 20 6 (2) (5) 4 6 2 6 28 3 39 34 35 46 42 27 20 30 26 39 42 157 103 Credit card: Impaired 32 29 27 27 27 26 24 24 22 32 27 110 96 Performing 5 − 2 11 10 13 9 (1) 4 5 10 23 25 37 29 29 38 37 39 33 23 26 37 37 133 121 Commercial Banking: Impaired 71 80 58 71 73 22 17 39 28 71 73 282 106 Performing (1) (8) 3 12 271 9 9 8 − 2 (8) 9 295 19 POCI (2) 1 (1) 1 (3) (11) 1 1 (14) 63 83 70 342 83 30 26 36 19 63 83 578 111 Wealth Management Impaired (1) 1 2 − 1 − − − − (1) 1 4 − Performing (1) 2 (1) (1) 1 (1) − − − (1) 1 1 (1) (2) 3 1 (1) 2 (1) − − − (2) 2 5 (1) Capital Markets Impaired 28 13 (1) 55 18 16 20 − (2) 28 18 85 34 Performing (2) 5 25 9 18 (12) 2 11 19 (2) 18 57 20 26 18 24 64 36 4 22 11 17 26 36 142 54 U.S. Specialty Finance and International Credigy: Impaired - Stage 3 25 16 18 21 20 22 19 15 16 25 20 75 72 Performing 13 11 2 (2) 10 7 9 6 7 13 10 21 29 Impaired - POCI 4 4 2 11 − 4 1 5 2 4 − 17 12 42 31 22 30 30 33 29 26 25 42 30 113 113 ABA Bank: Impaired 23 35 16 19 21 29 17 10 15 23 21 91 71 Performing 15 13 4 10 − − − 1 (4) 15 − 27 (3) 38 48 20 29 21 29 17 11 11 38 21 118 68 International: Impaired − − − − − 1 − − − − − − 1 Performing − − − − − − − − − − − − − − − − − − 1 − − − − − − 1 Other Impaired − − − − − − − − − − − − − Performing 1 (2) 2 (3) 3 − 2 1 (4) 1 3 − (1) 1 (2) 2 (3) 3 − 2 1 (4) 1 3 − (1) 244 244 203 545 254 162 149 138 120 244 254 1,246 569 Total Impaired 215 211 150 219 196 145 122 114 99 215 196 776 480 Performing (1) 25 29 51 315 57 14 25 22 30 25 57 452 91 Credigy’s POCI loans (2) 4 4 2 11 1 3 2 2 (9) 4 1 18 (2) 244 244 203 545 254 162 149 138 120 244 254 1,246 569 Excluding USSF&I Impaired 167 160 116 179 155 93 86 89 68 167 155 610 336 Performing (1) (3) 5 45 307 47 7 16 15 27 (3) 47 404 65 POCI (2) 1 (1) 1 (3) (11) 1 1 (14) 164 165 161 486 203 99 103 101 84 164 203 1,015 387 (1) For Q2 2025, the amount included initial provisions for credit losses of $230 million on performing loans acquired from C WB. (2) The presentation was changed in Q2 2025 and the comparative figures were not adjusted to reflect the change as the amount s were not considered significant. Prior Q2 2025, the amounts also included PCL on POCI loans acquired from SVB in Q4 2023.
Slide 33 — Derivatives Financial Instruments According to Basel Definition
National Bank of Canada – Supplementary Financial Information 33 Derivatives Financial Instruments According to Basel Definition (millions of Canadian dollars) 2026 2025 Q1 Q4 Q3 Q2 Q1 Under Basel III Foreign Exchange Related Contracts Swaps 515,316 516,957 499,295 490,415 524,994 Options - purchased 28,236 30,736 36,615 56,402 58,917 - sold 36,145 35,945 40,998 69,314 69,406 Exchange traded and OTC futures contracts 68,753 69,349 74,394 72,323 70,761 Total notional amount 648,450 652,987 651,302 688,454 724,078 Replacement cost - net (1) 1,104 1,256 1,035 1,129 1,887 Future credit risk 3,621 3,579 3,504 3,350 3,390 Credit equivalent (2) 6,615 6,769 6,355 6,271 7,388 Risk -weighted equivalent (3) 1,481 1,493 1,468 1,557 1,799 Interest Rate Related Contracts Swaps 1,742,433 1,933,478 1,631,164 1,446,839 1,438,127 Options - purchased 5,547 5,898 6,461 6,803 7,495 - sold 7,325 6,992 7,293 8,783 10,522 Exchange traded and OTC futures contracts 13,694 17,169 11,812 11,324 14,771 Total notional amount 1,768,999 1,963,537 1,656,730 1,473,749 1,470,915 Replacement cost - net (1) 506 665 607 651 979 Future credit risk 2,018 1,874 1,721 1,624 1,591 Credit equivalent (2) 3,534 3,554 3,259 3,184 3,598 Risk -weighted equivalent (3) 693 843 628 791 684 Financial Futures Total notional amount 182,627 186,047 162,503 196,783 232,033 Equity and Commodity Contracts Total notional amount 263,933 289,308 239,398 216,607 236,622 Replacement cost - net (1) 1,508 1,456 1,339 1,810 1,195 Future credit risk 7,406 6,493 5,862 6,231 6,344 Credit equivalent (2) 12,480 11,128 10,081 11,257 10,555 Risk -weighted equivalent (3) 1,739 1,671 1,540 1,365 1,465 Credit Derivatives Total notional amount (trading only) 18,323 19,076 16,576 15,586 14,719 Total Return Swap Notional Amount (4) 176 180 172 172 159 Replacement cost - net (1) 1 1 1 2 1 Future credit risk 20 17 8 12 9 Credit equivalent (2) 29 26 13 21 14 Risk -weighted equivalent (3) 6 6 4 4 4 Total Derivatives Total notional amount 2,882,508 3,111,135 2,726,681 2,591,351 2,678,526 Replacement cost - net (1) 3,119 3,378 2,982 3,592 4,062 Future credit risk 13,065 11,963 11,095 11,217 11,334 Credit equivalent (2) 22,658 21,477 19,708 20,733 21,555 Risk -weighted equivalent (3) 3,919 4,013 3,640 3,717 3,952 (1) Net replacement cost is gross positive replacement cost with consideration of master netting agreements without considera tion of collateral. (2) Credit equivalent amounts reported are net of impact of collaterals and master netting agreements and are presented after the alpha of 1.4. (3) Risk weighted amounts reported are net of impact of collaterals and master netting agreements. (4) Securitized exposure recognized for capital ratio but not for consolidated balance sheet purposes due to IFRS.
Slide 34 — Over the Counter Derivatives Financial Instruments Settled by Central Counterparties
National Bank of Canada – Supplementary Financial Information 34 Over the Counter Derivatives Financial Instruments Settled by Central Counterparties (1) (millions of Canadian dollars) 2026 2025 Q1 Q4 Q3 Exchange -traded contracts OTC -Traded Exchange -traded contracts OTC -Traded Exchange -traded contracts OTC -Traded Settled by central counterparties Not settled by central counterparties Settled by central counterparties Not settled by central counterparties Settled by central counterparties Not settled by central counterparties Interest rate contracts 182,627 1,528,848 240,151 186,047 1,723,649 239,888 162,503 1,435,218 221,512 Foreign exchange contracts − − 648,450 − − 652,987 − − 651,302 Equity, commodity and credit derivative contracts 123,764 13,725 144,943 143,475 14,047 151,042 124,984 11,653 119,509 2025 2024 Q2 Q1 Q4 Exchange -traded contracts OTC -Traded Exchange -traded contracts OTC -Traded Exchange -traded contracts OTC -Traded Settled by central counterparties Not settled by central counterparties Settled by central counterparties Not settled by central counterparties Settled by central counterparties Not settled by central counterparties Interest rate contracts 196,783 1,258,812 214,937 232,033 1,249,927 220,988 138,943 1,226,730 222,260 Foreign exchange contracts − − 688,454 − − 724,078 2 − 701,862 Equity, commodity and credit derivative contracts 103,253 11,686 117,426 111,444 9,534 130,522 121,083 8,496 142,307 (1) Notional amounts.