NatWest Corporates and Institutions

Commercial arrangements within the NatWest Group

We are providing this disclosure in accordance with MiFID 2 (Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU) and the FCA’s Conduct of Business Rules.

For certain investment services and financial instruments, NatWest Markets Plc will share revenues received from certain customers with other NatWest Group entities including RFB (Ring Fenced Bank) Affiliates* to reflect the contribution these RFB Affiliates have made to the customer relationship. Such revenues are shared with our RFB Affiliates as set out below:

^ Spot, forwards, options and international payments related

A disclosure of the exact amount of revenue paid to RFB Affiliates will be made directly to customers periodically as required.

We reserve the right to amend this information at any time. This information does not constitute or form part of any offer to sell or issue any financial instrument or an offer or solicitation to buy a financial instrument. We accept no liability for this information other than to the extent provided in our Terms of Business/contractual terms.

*These include National Westminster Bank Plc, The Royal Bank of Scotland plc, Ulster Bank Ireland DAC and Ulster Bank Limited.