NAB announced a non-underwritten Share Purchase Plan (SPP)targeting to raise approximately A$500 million in conjunction with a fully underwritten institutional share placement (Placement) of A$3 billion.

The SPP offer closed at 5.00pm (Melbourne time) on 22 May 2020.

On 27 May 2020, NAB announced the results of the SPP offer. Given the strong support shown by Eligible Shareholders for the SPP, NAB decided to increase the SPP size by A$750 million above its original target of A$500million, raising a total amount of A$1.25 billion under the SPP.

In accordance with the SPP terms and conditions, the issue price is A$14.15 per SPP Share, representing the issue price paid by investors under the Placement launched by NAB in conjunction with the SPP.

SPP Shares were issued and allotted to successful applicants on Tuesday, 2 June 2020. Trading of the SPP Shares commenced on the ASX on Wednesday, 3 June 2020.

THE PURPOSE OFTHE SHARE PURCHASE PLAN AND USE OF PROCEEDS

NAB took proactive steps to build capital via the SPP, the Placement, and a reduction in the interim dividend, in light of the uncertain economic outlook due to the COVID-19 pandemic. These actions are intended to provide NAB with sufficient capacity to continue supporting our customers through the challenging times ahead, as well as increasing NAB’s capital level to assist with managing through a range of possible scenarios,including a prolonged and severe economic downturn.

For more information see www.NAB.com.au

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