National Bank Of Canada · TSX:NA
National Bank Of Canada — Q3 2026 Earnings Presentation
35 slides from National Bank Of Canada's earnings presentation, Aug 26, 2026
Slide 1: Investor Presentation Third Quarter 2026
Investor Presentation Third Quarter 2026 August 26, 2026
Slide 2: Caution Regarding Forward-Looking Statements and Non-GAAP Financial Measures
Investor presentation 2 Caution Regarding Forward-Looking Statements and Non-GAAP Financial Measures Certain statements in this document and orally are forward-looking statements. These statements are made in accordance with applicable securities legislation in Canada and the United States. The forw
Slide 3: Overview
Overview 3 Laurent Ferreira President & Chief Executive Officer
Slide 4: Q3 2026 – Execution drives strong growth
Overview 4 Q3 2026 – Execution drives strong growth Strong execution drives significant ▪ Diluted EPS: Reported $3.25 up 26% YoY | Adjusted(1) $3.39 up 26% YoY growth Solid underlying results from ▪ Strong growth in balance sheet, fee-based businesses and trading activity drove solid topline growth
Slide 5: Q3 2026 – Broad-based strength
Overview 5 Q3 2026 – Broad-based strength P&C Banking (YoY Revenue Growth) ▪ Revenue growth reflects strong growth in balance sheet and fee-based income + 7% ▪ Personal(1): mortgages up 14% YoY and 5% QoQ; deposits down 3% YoY and flat QoQ reflecting clients’ preference for investment solutions ▪ Co
Slide 6: Financial Review
Financial 6 Review Marie Chantal Gingras Chief Financial Officer and Executive Vice-President, Finance
Slide 7: Q3 2026 – Delivering strong operating leverage
Financial review 7 Q3 2026 – Delivering strong operating leverage Q3 2026 Performance – Total Bank ($MM) ▪ Double-digit PTPP growth and strong operating leverage Reported Adjusted(1) $ YoY $ YoY ▪ Revenues up 18% YoY Revenues 4,053 18% 4,053 18% - Strong performance in Capital Markets (+34% YoY), We
Slide 8: Delivering NII growth in Q3
Financial review 8 Delivering NII growth in Q3 NII and NIM(1) ($MM; NIM on Average Interest-Bearing Assets) ▪ Reported NII and NIM include the financing costs to support trading activity 2,132 growth(3) 2,090 1,938 1,989 1,993 ▪ Adjusted NII (excl. trading)(2) up 10% YoY and 7% QoQ, in part reflecti
Slide 9: Continued growth on both sides of the balance sheet
Financial review 9 Continued growth on both sides of the balance sheet Loans(1) Deposits (Ex. Wholesale Funding)(2) ($B) ($B) 332.7 336.6 317.8 323.3 302.9 312.0 324.5 292.7 302.6 304.1 193.4 197.4 204.9 207.8 180.9 61.6 60.9 59.0 59.4 60.7 60.3 63.5 66.9 68.5 68.1 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Q3 2
Slide 10: Strong capital position
Financial review 10 Strong capital position CET1 Ratio(1) ▪ CET1 ratio of 13.51%, supported by strong net capital generation (+41 bps) ▪ RWA expansion (-19 bps, excluding FX): 0.67% - Strong organic growth in Credit Risk RWA (-35 bps), primarily driven by strong (0.26%) 0.04% loan growth in Corporat
Slide 11: Synergies from acquisition of CWB
Financial review 11 Synergies from acquisition of CWB FY26 $50MM target(4) achieved ahead of schedule; synergy capture Expecting annualized cost and funding synergies of ~$300MM continues ($MM) ($MM) $277 $238 ▪ On track to reach $270MM by end $52 ~$50 ▪ Achieved the ~$50MM FY2026(4) of FY 2026(3) r
Slide 12: Risk Management
Risk 12 Management Jean-Sébastien Grisé Executive Vice-President and Chief Risk Officer
Slide 13: Provisions for credit losses (PCL) – Strong credit performance
Risk management 13 Provisions for credit losses (PCL) – Strong credit performance Impaired PCL (excl. Credigy’s POCI(1)) ($MM) Q3 Total PCL of $246MM (31 bps) Impaired (excl. Credigy’s POCI) Impaired bps (excl. Credigy’s POCI) 28 28 28 ▪ Reflect resilient portfolio mix and prudent provisioning 26 21
Slide 14: Allowance for credit losses (ACL) – Prudent levels
Risk management 14 Allowance for credit losses (ACL) – Prudent levels ACL ($MM) 2,727 2,542 2,605 Total Allowances 2,426 2,285 ▪ Total Allowances cover 5.3x NCOs(3) 1,010 1,110 896 988 ▪ Maintaining a prudent level of allowances in light of continued uncertainties 788 Performing Allowances: +$25MM Q
Slide 15: Gross impaired loans (GIL) and formations – Lower net formations QoQ
Risk management 15 Gross impaired loans (GIL) and formations – Lower net formations QoQ GIL excl. Credigy’s POCI Loans(1) GIL excl. Credigy’s POCI Loans(1) ($MM) (bps) 3,588 3,736 3,324 3,397 128 189 114 221 109 111 114 120 2,992 226 751 786 102 110 119 723 97 690 108 100 647 73 93 45 31 81 81 84 82
Slide 16: Appendices
Appendices 16
Slide 17: Q3 2026 Results – Total Bank
Appendix 17 Q3 2026 Results – Total Bank Q3 2026 – Total Bank ($MM) ▪ Strong earnings growth and returns Reported Results Adjusted Results(1) ▪ Positive operating leverage Q3 26 Q2 26 Q3 25 QoQ YoY Q3 26 Q2 26 Q3 25 QoQ YoY Revenues 4,053 3,907 3,449 4% 18% 4,053 3,907 3,449 4% 18% Non-Int. Expenses
Slide 18: P&C Banking
Appendix 18 P&C Banking Q3 2026 – P&C Banking ▪ Revenue growth of 7% YoY ($MM) - Personal revenues up 10% YoY Reported Results Adjusted Results(1) - Mainly reflecting robust loan growth (+13% YoY), deposit Q3 26 Q2 26 Q3 25 QoQ YoY Q3 26 Q2 26 Q3 25 QoQ YoY margin improvement and strong growth in mu
Slide 19: Wealth Management
Appendix 19 Wealth Management Q3 2026 – Wealth Management ▪ Record revenues of $955MM, up 18% YoY ($MM) Reported Results Adjusted Results (1) - Continued momentum in fee-based revenues, up Q3 26 Q2 26 Q3 25 QoQ YoY Q3 26 Q2 26 Q3 25 QoQ YoY 19% YoY, reflecting strong market performance Revenues 955
Slide 20: Capital Markets
Appendix 20 Capital Markets Q3 2026 – Capital Markets ▪ Continued momentum with revenues >$1B ($MM) ▪ Global Markets revenues of $578MM Reported Results Adjusted Results(1) - Driven by strong performance in Securities Finance, and Q3 26 Q2 26 Q3 25 QoQ YoY Q3 26 Q2 26 Q3 25 QoQ YoY Revenues 1,041 1,
Slide 21: USSF&I – Credigy
Appendix 21 USSF&I – Credigy Q3 2026 – Credigy (US$ MM) ▪ Average assets up 8% YoY reflecting solid investment volumes, partly offset by sale of a mortgage loan portfolio in Q3 Q3 26 Q2 26 Q3 25 QoQ YoY Revenues 112 103 99 9% 13% ▪ NII stable YoY Net Interest Income(2) 95 100 95 (5%) - Non-Interest
Slide 22: USSF&I – ABA
Appendix 22 USSF&I – ABA Q3 2026 – ABA Bank (US$ MM) ▪ Net income stable YoY Q3 26 Q2 26 Q3 25 QoQ YoY ▪ Loans up 11% and deposits up 7% YoY, with client base up 33% Revenues 199 193 188 3% 6% Non-Interest Expenses - Benefiting from leading position in digital payments and cash management 69 69 64 -
Slide 23: Other
Appendix 23 Other Q3 2026 – Other Segment ($MM) ▪ Reported results reflect specified items related to the CWB Reported Results Adjusted Results(1) Transaction(3) and to our intention to acquire Laurentian Bank's retail Q3 26 Q2 26 Q3 25 Q3 26 Q2 26 Q3 25 and SME banking portfolios(4) Revenues 70 30
Slide 24: Retail mortgage and HELOC portfolio
Appendix 24 Retail mortgage and HELOC portfolio (As at July 31, 2026) Canadian Distribution by Province Canadian Distribution by Mortgage Type 54% Uninsured & HELOC HELOC Insured Insured $34.5B(2) $33.6B / 28% / 27% 29% 80% 73% $123.5B 7% 6% 38% 4% 20% 27% 71% 62% 48% 29% 52% QC ON AB BC Other Provi
Slide 25: Retail mortgage rate type and maturity profile
Appendix 25 Retail mortgage rate type and maturity profile (As at July 31, 2026) Canadian Mortgage Distribution by Rate Type ▪ ~95% of our Canadian Mortgage portfolio has been repriced, absorbing the impact of rate increases Variable Rate - 34% of mortgage portfolio is variable rate and the monthly
Slide 26: Total loan portfolio overview
Appendix 26 Total loan portfolio overview Loan Distribution by Borrower Category(1) ▪ Secured lending accounts for 96% of Retail loans (As at July 31, 2026) ▪ Indirect auto loans represent 2.3% of total loans ($7.6B) $B % of Total Retail ▪ Limited exposure to unsecured retail and cards (2% of total
Slide 27: Canadian loan portfolios
Appendix 27 Canadian loan portfolios Geographic distribution Canadian Retail Portfolio 90+ Delinquency Rate (As at July 31, 2026) (bps) British Q1 20 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 Quebec Ontario Columbia Alberta Others Total Mortgages 25 26 28 29 30 33 Retail VRM 21 23 23 17 16 18 Secured Mortgage &
Slide 28: Prudent provisioning in uncertain economic environment
Appendix 28 Prudent provisioning in uncertain economic environment Strong Performing ACL Coverage Total Allowances Cover 5.3x NCOs Performing ACL / LTM PCL on Impaired Loans (1) Total ACL / LTM Net Charge-Offs (excl. Credigy’s POCI loans) (2) 2.2x 5.9x 2.1x 5.5x 5.3x 2.1x 5.0x 5.1x 2.0x 2.0x 1.8x 2.
Slide 29: Real estate and construction real estate
Appendix 29 Real estate and construction real estate Corporate Banking (4%) Total Portfolio by Sector ($43.9B) ▪ Primarily diversified Canadian REITs (As at July 31, 2026) Short Term Construction (26%) Short Term Construction; ▪ Mix of residential construction, land and contractors $ 11.2B; 26% ▪ Le
Slide 30: Daily trading and underwriting revenues vs. VAR
Appendix 30 Daily trading and underwriting revenues vs. VAR ($MM)
Slide 31: Diversified funding profile & sound liquidity metrics
Appendix 31 Diversified funding profile & sound liquidity metrics Balance Sheet Overview(1) Liquidity Ratios(5) ($B, as at July 31, 2026) (As at July 31, 2026) $635 $635 189% Business & Government Business & Government Loans 145 173% Deposits (3) 170% 166% Loans 51% 208 161% 161% 152% 154% 150% Resi
Slide 32: Range of macroeconomic scenarios
Appendix 32 Range of macroeconomic scenarios Canada Real GDP(1) Macroeconomic Forecast: Q3 26 vs. Q2 26(1) ($ Trillions) (Full Calendar Years) 2.60 Base Scenario C2026 C2027 2.50 Real GDP (Annual Average % Change) As at April 30, 2026 1.0 % 1.4 % 2.40 As at July 31, 2026 0.7 % 1.5 % Downside scenari
Slide 33: CWB Transaction – Accounting considerations
Appendix 33 CWB Transaction – Accounting considerations Accounting Considerations Related to the Acquisition of CWB - Final PPA(1) ($MM, unless otherwise noted) Estimated P&L impact P&L treatment Amount Comments Pre-tax amount Quarterly EPS Period Adjusted Not Adjusted $ 17 $ (0.03) Q2'25 X $ 27 $ (
Slide 34: Reconciliation of Non-GAAP financial measures
Appendix 34 Reconciliation of Non-GAAP financial measures ($MM, except EPS) Q3 26 Q2 26 Non- Non- Total (7) Income Net Diluted Total (7) Income Net Diluted Interest PTPP PCL Interest PTPP PCL Revenues taxes Income EPS Revenues taxes Income EPS Segment Expenses Expenses Reported Results 4,053 2,093 1
Slide 35: Thank you
Thank you Investor Relations Contact Information www.nbc.ca/investorrelations investorrelations@nbc.ca
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