11 November 2021
NatWest Group plc
INITIAL NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY (PDMRs) in accordance with Article 19 of the Market Abuse Regulation
NatWest Group plc (the Company) announces that ordinary shares of £1 each in the Company (Shares) (ISIN: GB00B7T77214) were delivered to PDMRs on 10 November 2021, under the NatWest Group 2014 Employee Share Plan (the Plan), as set out below.
The Shares delivered represent payment of a fixed share allowance (FSA) for the three month period ending 31 December 2021 and have been calculated using a Share price of £2.2038.
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, NatWest Markets | 36,869 | 17,724 | 19,145 |
| Peter Flavel | CEO, Wealth Businesses | 25,541 | 12,023 | 13,518 |
| Bruce Fletcher | Chief Risk Officer, NatWest Group | 38,003 | 17,889 | 20,114 |
| David Lindberg
| CEO, Retail Banking | 36,869 | 17,355 | 19,514 |
| Andrew McLaughlin1 | CEO, RBS International | 17,017 | 0 | 17,017 |
| Simon McNamara | Chief Administrative Officer | 36,869 | 17,724 | 19,145 |
| Katie Murray | Chief Financial Officer | 85,081 | 40,049 | 45,032 |
| Alison Rose | Chief Executive Officer | 124,785 | 58,738 | 66,047 |
| John-Paul Thwaite | CEO, Commercial Banking | 30,062 | 14,151 | 15,911 |
| Jen Tippin | Chief People & Transformation Officer | 46,795 | 22,027 | 24,768 |
| 1. The FSA was delivered when Andrew McLaughlin was resident in Jersey and therefore is taxable in Jersey only and not in the UK. No employer tax withholding is required under Jersey law. The Jersey income tax payable in respect of the vesting of the award will be paid by the PDMR directly to the Jersey tax authority.
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The market price used to determine the number of Shares withheld to meet associated tax liabilities was £2.15. Shares retained after payment of associated tax liabilities will be held on behalf of PDMRs in the Computershare Share Plan Account and will be released in instalments over a three year period.
The above transactions took place on the London Stock Exchange (XLON).
Legal Entity Identifier: 2138005O9XJIJN4JPN90
For further information contact:-
NatWest Group Investor Relations
Alexander Holcroft
Head of Investor Relations
+44(0)20 7672 1758
NatWest Group Media Relations
+44(0)131 523 4205
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