Natwest Group PLC

Major Shareholding Notification • Jul 15, 2024

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) i

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are at tached ii:			NatWest Group plc
	1b. Please indicate if the issuer is a non-UK issuer		(please mark with an "X" if appropriate)
Non-UK issuer
2.	Reason for the notification (please mark		the appropriate box or boxes	with an "X")
An acquisition or disposal of voting rights						x
	An acquisition or disposal of financial instruments
	An event changing the breakdown of voting rights
Other (please specify)	iii:
3. Details of person subject to the notification obligation iv
Name			The Commissioners of His Majesty's Treasury
City and country of registered office (if applicable)			London, England
4. Full name of shareholder(s) (if different from 3.) v
Name			The Solicitor for the Affairs of His Majesty's Treas ury
City and country of registered office (if applicable)			London, England
5. Date on which the threshold was crossed or reached vi:			12 July 2024
6. Date on which issuer notified (DD/MM/YYYY):			12 July 2024
7. Total positions of person(s) subject to the notification obligation
% of voting rights at tached to shares (to tal of 8. A)		% of voting rights through financial instru ments (total of 8.B 1 + 8.B 2)	Total of both in % (8.A + 8.B)	Total number of voting rights held in issuer (8.A + 8.B) vii
Resulting situation on the date on which	19.97%			19.97%	6,645,166,452

threshold was crossed or reached
Position of previous notification (if applicable)	20.92%	20.92%

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii
A: Voting rights attached to shares
Class/type of shares		Number of voting rights ix			% of voting rights
ISIN code (if possible)		Direct (DTR5.1)			Indirect (DTR5.2.1)		Direct (DTR5.1)	Indirect (DTR5.2.1)
Ordinary Shares of £1.0769 each GB00BM8PJY71		6,645,166,452				19.97%
SUBTOTAL 8. A			6,645,166,452				19.97%
B 1: Financial Instruments				according to DTR5.3.1R (1)	(a)
Type of financial in strument		Expiration date x	Exercise/ Conversion Period xi		Number of voting rights that may be acquired if the instrument is exercised/converted.		% of voting rights
				SUBTOTAL 8. B 1
B 2: Financial Instruments							with similar economic effect according to DTR5.3.1R (1)	(b)
Type of financial instrument	date	Expiration x	Exercise/ riod xi	Conversion Pe	Physical or cash Settlement	xii	Number of voting rights	% of voting rights

SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X")
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii
(please add additional rows as necessary) xiv	Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity			x
% of voting rights % of voting rights if it Total of both if it through financial in equals or is higher equals or is higher Name struments if it equals xv than the notifiable than the notifiable or is higher than the threshold threshold notifiable threshold
UK Government Investments Limited, a company wholly-owned by His Majesty's Treasury, is entitled to exercise control over the voting rights which are the subject of this notification (pursuant to certain man agement arrangements agreed with His Majesty's Treasury). The Solicitor for the Affairs of His Majesty's Treasury is acting as nominee for The Commissioners of His
Majesty's Treasury.
The Commissioners of His 19.97% 19.97% Majesty's Treasury

10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held

11. Additional information xvi

The Solicitor for the Affairs of His Majesty's Treasury is acting as nominee for The Commissioners of His Majesty's Treasury (HMT).

The percentage of voting rights held by HMT in NatWest Group plc (NWG), as shown on this form (19.97%), has been calculated following the disposal by HMT of 81,119,397 ordinary shares in NWG since its last TR-1 notification on 25 June 2024.

The percentage of voting rights held by HMT could move up or down going forward depending on the number of shares repurchased by NWG and the progress of sales under HMT's trading plan announced on 22 July 2021 and most recently extended on 3 April 2023.

Place of completion	London, England
Date of completion	12 July 2024

LEI 2138005O9XJIJN4JPN90