National Bank of Canada Announces Increase to NVCC Preferred Share Issue

MONTREAL, QUEBEC--(Marketwired - June 2, 2016) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

National Bank of Canada ("National Bank") NA today announced that as a result of strong investor demand for its previously announced domestic public offering of non-cumulative 5-year rate reset first preferred shares series 36 (non-viability contingent capital (NVCC)) (the "Series 36 Preferred Shares"), the size of the offering has been increased to 16 million shares. The gross proceeds of the offering will now be $400 million. The offering will be underwritten by a syndicate led by National Bank Financial Inc. The expected closing date is on or about June 13, 2016.

The net proceeds of the offering will be used for general corporate purposes and added to National Bank's capital base.

The Series 36 Preferred Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or under any state securities laws, and may not be offered, sold, directly or indirectly, or delivered within the United States of America and its territories and possessions or to, or for the account or benefit of, United States persons except in certain transactions exempt from the registration requirements of such Act. This press release shall not constitute an offer to sell or a solicitation to buy securities in the United States.

About National Bank of Canada

With $221 billion in assets as at April 30, 2016, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. The Bank has close to 20,000 employees and is widely recognized as a top employer. The Bank's securities are listed on the Toronto Stock Exchange NA. Follow the Bank's activities at www.nbc.ca or via social media such as Facebook, LinkedIn and Twitter.

Caution Regarding Forward-Looking Statements

This press release includes certain forward-looking statements. These statements are inherently subject to significant risks, uncertainties and changes in circumstances, many of which are beyond the control of the Bank. Except as required by law, the Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time, by it or on its behalf. The forward-looking information contained in this press release is presented for the purpose of interpreting the information contained herein and may not be appropriate for other purposes.

Information (The telephone numbers provided below are for the exclusive use of journalists, other media representatives and shareholders).

FOR FURTHER INFORMATION PLEASE CONTACT:
National Bank of Canada
Linda Boulanger
Vice-President, Investor Relations
514-394-0296


National Bank of Canada
Claude Breton
Vice-President, Public Affairs
514-394-8644
www.nbc.ca