Natwest Group PLC

Major Shareholding Notification • Nov 14, 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 2138005O9XJIJN4JPN90
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 November 2024
6. Date on which issuer notified (DD/MM/YYYY):			13 November 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 threshold was crossed or reached	11.34%			11.34%	3,648,153,916
Position of previous notification (if applicable)	14.81%			14.81%

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 ISIN code (if possible)	Number of voting rights ix		% of voting rights
	Direct (DTR5.1)	Indirect (DTR5.2.1)	Direct (DTR5.1)	Indirect (DTR5.2.1)
Ordinary Shares of £1.0769 each GB00BM8PJY71	3,648,153,916		11.34%
SUBTOTAL 8. A	3,648,153,916		11.34%

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	Expiration date x	Exercise/ Conversion Pe riod xi	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
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 (please add additional rows as necessary) xiv
Name xv	% of voting rights % of voting rights if it Total of both if it through financial in equals or is higher equals or is higher struments if it equals 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 management 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 Majesty's Treasury	11.34%		11.34%

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 (11.34%), has been calculated following the disposal by HMT of 318,032,095 ordinary shares in NWG since its last TR-1 notification on 31 October 2024, under HMT's trading plan (announced on 22 July 2021 and most recently extended on 3 April 2023) and the Directed Buyback completed on 11 November 2024. It is based on NWG's Total Voting Rights announcement on 13 November 2024.

Place of completion	London, England
Date of completion	13 November 2024