11th Mar 2026 14:00
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NatWest Group plc (the Company) announces that conditional performance share plan awards (PSP) and deferred awards (Deferred Awards) over ordinary shares of £1.0769* each in the Company (Shares) (ISIN: GB00BM8PJY71) have been granted on 9 March 2026 under the NatWest Group plc 2024 Employee Share Plan (the Plan) to the PDMRs set out below: Name of PDMR Position of PDMR Award Maximum no. ofShares eligible to vest Robert Begbie CEO, Commercial & Institutional PSP 291,380 Deferred Award 67,066 Solange Chamberlain CEO, Retail PSP 116,552 Deferred Award 45,434 Emma Crystal CEO, Private Banking & Wealth Management PSP 221,047 Deferred Award 61,945 James Holian Chief Customer & Operations Officer Deferred Award 37,783 Maria Kokkinou Group Chief People Officer Deferred Award 38,065 Scott Marcar Group Chief Information Officer PSP 331,570 Deferred Award 86,142 Katie Murray Group Chief Financial Officer PSP 401,787 Deferred Award 85,561 Sean Pilcher Interim Group Chief Risk Officer Deferred Award 29,185 Paul Thwaite Group Chief Executive Officer PSP 589,287 Deferred Award 125,489 The market price per Share used on the grant of the above awards was £5.9716. A pre-vest performance assessment will take place for the PSP at the end of three years. Subject to this, the PSP will be eligible to vest between 2029 and 2030. Following vesting, Executive Director's Shares will be subject to a 12-24 month retention period. Deferred Awards will be eligible to vest between 2026 and 2030. Shares vesting in 2026 will be subject to a 12 month retention period. Dividend equivalents will apply to both PSP and Deferred Awards, and additional Shares will be delivered on vesting to reflect the value of dividends paid over the vesting period. Malus provisions will apply to each award up until vesting and clawback provisions will apply for a period of seven years from the date of grant. Such period can be extended to ten years in certain circumstances. 2. The Company announces that long term incentive awards (LTI), restricted share plan awards (RSP), Deferred Awards and buy-out awards (Buy-out Awards) over Shares vested on 9 March 2026 to the PDMRs set out below. The awards were granted under the Plan between March 2019 and March 2025. The number of Shares withheld to meet associated tax liabilities arising on vesting and the number of vested Shares retained by each PDMR is set out below: Name of PDMR Position of PDMR Award No. of Shares vested No. of Shares withheld to satisfy associated tax liability No. of vested Shares retained Robert Begbie CEO, Commercial & Institutional LTI3 532,608 266,705 265,903 Deferred Award3 165,591 82,920 82,671 Solange Chamberlain CEO, Retail Deferred Award3 39,394 18,543 20,851 Emma Crystal CEO, Private Banking & Wealth Management Buy-out Award1 19,150 9,015 10,135 Deferred Award3 127,366 59,951 67,415 James Holian Chief Customer & Operations Officer Deferred Award3 56,631 26,657 29,974 Maria Kokkinou Group Chief People Officer Buy-out Award 52,264 24,601 27,663 Deferred Award 6,500 3,060 3,440 Scott Marcar Group Chief Information Officer Buy-out Award1 39,829 18,748 21,081 Deferred Award3 236,785 111,456 125,329 Katie Murray Group Chief Financial Officer LTI2 326,943 153,895 173,048 RSP2 86,291 40,617 45,674 Deferred Award2 41,785 19,669 22,116 Sean Pilcher Interim Group Chief Risk Officer Deferred Award3 23,075 10,862 12,213 Paul Thwaite Group Chief Executive Officer LTI3 472,786 222,544 250,242 RSP3 318,806 150,064 168,742 1. Vested Shares retained after payment of associated tax liabilities will be subject to retention periods which mirror the retention periods applicable to the PDMR's awards granted by their previous employer.2. Vested Shares retained after payment of associated tax liabilities will be subject to a 12 month retention period.3. Vested Shares include eligible Shares from LTI, RSP and Deferred Awards where vesting has been accelerated, in line with recent changes to the PRA and FCA remuneration rules applicable to the Company's group. The market price used to meet associated tax liabilities was £5.6623. 3. The Company announces that Shares were delivered to PDMRs on 9 March 2026, as set out below. The Shares delivered represent payment of a fixed share allowance for the three-month period ending 31 March 2026 and have been calculated using a share price of £5.9716. The number of Shares delivered, the number of Shares withheld to meet associated tax liabilities and the number of Shares retained by each PDMR is as follows: Name of PDMR Position of PDMR No. of Shares delivered No. of Shares withheld to satisfy associated tax liability No. of Shares retained Robert Begbie CEO, Commercial & Institutional 15,176 7,600 7,576 Solange Chamberlain CEO, Retail 12,141 5,715 6,426 Emma Crystal CEO, Private Banking & Wealth Management 11,513 5,420 6,093 Scott Marcar Group Chief Information Officer 17,270 8,129 9,141 Katie Murray Group Chief Financial Officer 33,648 15,838 17,810 Paul Thwaite Group Chief Executive Officer 49,350 23,230 26,120 The market price used to determine the number of Shares withheld to meet associated tax liabilities was £5.6623. Shares retained after payment of associated tax liabilities will be held on behalf of PDMRs and will be released in instalments over a five year period. 4. The Company announces that the PDMRs set out below have sold Shares on the date and at the price indicated under, and in accordance with the terms of, the irrevocable trading plans entered into by the PDMRs, as announced on 01 September 2025: Name of PDMR Position of PDMR No. of Shares sold Sale price Date of transaction Katie Murray Group Chief Financial Officer 53,000 £5.6209 09/03/2026 Paul Thwaite Group Chief Executive Officer 26,000 £5.6209 09/03/2026 All of the above transactions took place on the London Stock Exchange (XLON). * Note: the nominal value of ordinary shares without rounding is £1.076923076923077 per share Legal Entity Identifier: 2138005O9XJIJN4JPN90 For further information contact:NatWest Group Investor RelationsClaire KaneDirector of Investor Relations+44 20 7672 1758 NatWest Group Media Relations +44(0)131 523 4205 This information is provided by RNS, the news service of the London Stock Exchange. 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