NAB stock dividend 2022 - Payment 1

- Execution ratio: 100:18.736.

- Explanation: At the record date, shareholders holding 100 shares will receive 18.736 new shares.

- Rounding policy: For fractional shares (if any) arising when shareholders exercise their rights, to ensure the number of shares issued does not exceed the planned issuance, the number of shares shareholders receive will be rounded down to the nearest whole number. Fractional shares arising from rounding when distributing to existing shareholders will be cancelled.

- Example: At the record date, shareholder A holds 222 shares NAB. According to the stock dividend ratio of 100:18.736, the number of shares shareholder A will receive is (222 x 18.736)/100 = 41,594 new shares. According to the rounding and fractional share rules, shareholder A will receive 41 shares. Fractional shares (0.59392 shares) will be cancelled.