National Bank of Canada : Final Key Regulatory Approvals Received for theTransactions involving Laurentian Bank

Laurentian Bank of Canada ("Laurentian Bank") is pleased to announce that the Canadian Investment Regulatory Organization and the relevant securities regulatory authorities have approved the previously announced acquisition by Fairstone Bank of Canada ("Fairstone Bank") of all of the issued and outstanding common shares of Laurentian Bank (the "Acquisition Transaction") and acquisition by National Bank of Canada (directly or through one or more affiliates) ("NBC") of Laurentian Bank's retail and SME banking portfolios (the "Retail/SME Transaction" and, collectively with the Acquisition Transaction, the "Transactions"). These regulatory approvals conclude the key regulatory approval process required to proceed with the closing of the Transactions.

The federal Minister of Finance has previously approved the Acquisition Transaction, and the Transactions have also received the necessary approvals from the Superintendent of Financial Institutions. The Competition Act approval condition to closing for both Transactions has been satisfied, provided that there is no change in circumstances relating to the Competition Bureau.

The parties expect the Transactions to close on November 1, 2026, subject to the satisfaction or waiver of the remaining closing conditions and the completion, prior to closing, of certain integration activities. Assuming closing occurs on November 1, 2026, it is expected that Laurentian Bank's retail and SME products and services will be migrated to NBC by late 2026.

Laurentian Bank, Fairstone Bank, and NBC will work closely together to ensure a smooth transition for customers. Laurentian Bank's retail and SME customers whose products and services will migrate to NBC following closing of the Retail/SME Transaction will receive clear communications outlining what the migration means for their products and services.

Laurentian Bank's decision to focus on its core commercial specialization represents an opportunity to build on the strength of a long-established Québec institution. As part of the integration, Fairstone Bank will combine its commercial lending operations with Laurentian Bank's commercial specialization, leveraging the expertise of both organizations to strengthen capabilities and expand market presence.