Natwest Regulatory News (NWG)

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August 12, 2022

NATWEST GROUP PLC AND NATWEST MARKETS N.V. - CONFIRMATION OF THE FINANCIAL IMPACT OF SEPARATE CASH TENDER OFFERS FOR CERTAIN OF THEIR RESPECTIVE OUTSTANDING NOTES

The table below sets out the expected reduction in post-tax profits in the relevant reporting period of NatWest Group plc (on a consolidated and a solo legal entity basis) and NatWest Markets N.V. ("NWM N.V.") following the repurchase of their respective U.S. dollar denominated notes. This follows our announcement released on 10 August 2022 at 6:18 pm under RNS No. 6282V.

1. Determined using the applicable foreign exchange rates on August 10, 2022.

2. After taking into account the estimated effect of taxation, and based on risk weighted assets of £179.8 billion as reported for June 30, 2022, this would equate to a reduction in NatWest Group plc's (consolidated) CET1 capital ratio of approximately 7bps.

3. After taking into account the estimated effect of taxation, and the effect of the unwinding of a related hedging transaction with NatWest Group plc (solo), NWM N.V. does not expect its repurchases to have a material impact on its CET1 capital ratio.

FORWARD-LOOKING STATEMENTS

From time to time, NatWest Group plc and NWM N.V. (each, an "Offeror" and together, the "Offerors") may make statements, both written and oral, regarding their assumptions, projections, expectations, intentions or beliefs about future events. These statements constitute "forward-looking statements". The Offerors caution that these statements may and often do vary materially from actual results. Accordingly, the Offerors cannot assure you that actual results will not differ materially from those expressed or implied by the forward-looking statements. You should read the sections entitled "Risk Factors" and the "Forward-Looking Statements" in the Annual Report and H1 2022 Interim Report of each Offeror.

Any forward-looking statements made in this announcement, including in connection with the expected reduction in post-tax profits and CET1 capital ratio impact of each Offer, or in the documents incorporated by reference herein speak only as of the date they are made. Except as required by the U.K. Financial Conduct Authority (the "FCA") or the Dutch Authority for the Financial Markets (the "AFM"), as applicable, any applicable stock exchange or any applicable law, the Offerors expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained in the relevant Offer to Purchase relating to each Offer or the documents incorporated by reference herein to reflect any changes in expectations with regard thereto or any new information or any changes in events, conditions or circumstances on which any such statement is based. The reader should, however, (i) with respect to NatWest Group plc consult any additional disclosures that NatWest Group plc has made or may make in documents that NatWest Group plc has filed or may file with the U.S. Securities and Exchange Commission and (ii) with respect to NWM N.V. consult any additional disclosures that NWM N.V. has made or may make in documents that NWM N.V. has filed or may file with the AFM.