CONFIDENTIALITY

A CONFIDENTIAL MATTER STRICTLY BETWEEN YOU AND US

A QUESTION
OF CONFIDENTIALITY
We1 have always made it a priority to protect the personal information you provide to us.
As part of our ongoing efforts to ensure that your rights are fully respected, we prepared, in cooperation with the other Canadian
financial institutions and the Canadian Bankers Association, a code concerning the protection of personal information.
We are committed to this privacy code as are all our employees, who are required to uphold it. When you choose to do business with
us, any information we have that concerns you is placed in your personal file. By creating this file, we can efficiently administer the
products and services you have selected, advise you as to other products and services that could be of interest to you, and better
understand your needs.Your file is kept at the National Bank of Canada and is consulted by employees only when they need to do
so in the course of their duties.
A QUESTION
OF NEED
To be able to offer you products and services that are best suited to your needs, we require basic information about you. For example,
when you open a bank account, your name, telephone number and address are necessary. If the account generates interest or if you
invest in a retirement savings plan or retirement income fund, we also need your social insurance number to comply with current tax
laws. Similarly, if you would like advice on investment, credit or trust products, we need to know certain financial information to serve
you properly.
Other types of information, such as your date of birth and the state of your health, enables us to check your eligibility for certain types
of products. Your social insurance number helps us distinguish your information from that of other clients whose name may be similar
to yours. This differentiation is particularly important when we have to check your creditworthiness. Although you are not required to
disclose your social insurance number, we think it is in your interest to do so.
A QUESTION
OF CREDIT
When you apply for any type of credit product, we must check your credit record. To do so, we contact credit bureaus or personal
information agents who have information on your financial position. Where provided by law, you can have access to the personal
information that is held by such bureaus and agents and make any necessary corrections. National Bank of Canada can help you get
in touch with the bureaus and agents with whom we do business.

A QUESTION
OF ACCESS
You are our main source of information. With your consent, we may also obtain information directly from a third party to help us
determine your eligibility for our various financial products and services. For credit matters, for example, it is essential that we know
your financial worth as well as your credit record. We will also contact other lenders, financial institutions, credit bureaus and employers.
Your consent is therefore important because without it, we will not be able to carry out the appropriate inquiries and it might be difficult
for us to offer you the credit product you request. In most cases, your consent is given on the forms used for specific products or, from
time to time, on a separate form. You will notice that the declaration of consent is clear and unambiguous. We suggest that you read it
over when appropriate and, if you have any questions, please ask the staff of the National Bank of Canada.

At any time, you can refuse to give your consent or even withdraw it. If you decide to do so, the consequences of your decision will be
explained to you. However, once you have been granted credit, we cannot cancel your consent authorizing us to disclose information
about your credit record to other lenders and credit bureaus. This measure is to protect the integrity of the credit lending process.
A QUESTION
OF RESPECT
Third parties only have access to personal information about you in a few very specific instances.

IF YOU GIVE YOUR CONSENT

Access to personal information is most frequently required for credit matters. You authorize us to convey information concerning
your creditworthiness or credit record to other lenders, credit bureaus or persons with whom you do business. The only information
disclosed is your identity and your ability to meet your financial obligations.

IF REQUIRED BY LAW
We are legally bound to disclose information about you when we receive a valid request, search warrant, subpoena or other
government or court order. To ensure that these requests respect the legal framework in which they were issued, we consult our Legal
Affairs Department whenever necessary.

1. Designates National Bank of Canada and all its subsidiaries which offer to the public in Canada deposit and lending services, credit, debit or payment cards, trust, custodial, brokerage, insurance and
other personal financial services (in particular: National Bank Trust Inc., Natcan Trust Company, National Bank Financial Services Inc., National Bank Financial Inc. which is subject to specific legislation
and regulations and is a separate corporate entity). National Bank of Canada may have an interest in other subsidiaries or affiliated corporations not listed above, some of which may be subject to
specific legislation.

17671-012 (2003-02-27) Page 1 of 2

IF REQUIRED BY OUR AGENTS IN CARRYING OUT THEIR DUTIES
In providing certain services to you, such as printing cheques or issuing bank cards, we occasionally call on suppliers who are given
access to certain personal information.We try to limit such access and require a formal commitment from these suppliers to respect
the confidentiality of any such information.

IF WE MUST PROTECT THE BANK’S INTERESTS

In cases where we are involved in court proceedings, we may have to disclose personal information about you. Moreover, if we must
return an NSF cheque, a third party would then know that your account is overdrawn. Similarly, if we must call on a collection agency,
a third party could then deduce that you are not meeting your financial obligations to us.

IF PUBLIC INTEREST IS ENDANGERED

It is our duty to denounce criminal activity such as fraud or money laundering. In all such cases, authorities are contacted and
personal information about you may be disclosed.
A QUESTION
OF ACCURACY
We will do our utmost to keep your personal information up to date, but we ask that you help us by notifying us of a change of address.
As well, if you notice any errors or inaccuracies, please let us know and we will make the necessary corrections. If we have conveyed
incorrect information to third parties in the previous six months, we will advise them. If any information is questionable, we will take
note of your opinion.
A QUESTION
OF PROTECTION
Client lists are never passed on to third parties other than our subsidiaries or affiliated corporations where permitted by law. When
they are hired, our employees must undertake to respect the confidential nature of client information. Only employees who need to
view your file as part of their work have access to this information. Our subcontractors are also required to respect confidentiality, and
non-current files are systematically destroyed. Moreover, the passwords, user codes and personal identification (PIN) numbers you
use to access certain financial services are confidential and you are the only one who knows them. Our employees have no way of
accessing this information and will never ask you for it.
Lastly, your personal information is kept only as long as you are receiving a financial service. The retention period may vary, depending
on the product or service offered. Even if you stop doing business with us, we might keep some information on you in order to settle
future transactions or look up past transactions. When this information is no longer necessary, it is destroyed and purged from our
files.
A QUESTION
OF CHECKING
Most of the information we have about you is of an accounting nature and is produced in the form of transaction records. Information
concerning an account, investment, credit card or personal line of credit, for example, can be obtained by regularly updating your
passbook, via a periodic statement of account or by using our Electronic Banking Services.
To obtain more information on this subject, you may call . Simply complete the request form and, within 30 days
of receiving your request, we will let you know when and where you can consult your file.
A QUESTION
OF SERVICE
We sometimes share your personal information with our other subsidiaries, affiliated corporations and distributors where permitted by
law, to enable them to use it in the manner and for the purposes for which you provided your consent.We inform them of changes to
your file, which simplifies and accelerates the processing of your applications and transactions. Information about your health, which
is disclosed when you sign up for an insurance product, is not accessible to our other subsidiaries or affiliated corporations.
If you would like to stop receiving mailings and telephone calls about promotions, special offers or new financial products and
services that we, or one of its subsidiaries or affiliated corporations offer, you can contact your branch at any time to have your name
removed from our client lists.
ANY QUESTIONS?
If you have questions or comments regarding the management of your personal information, contact the following number
.
For further information on this subject, consult the “For better banking relations with you” pamphlet, available by calling the
. In it you will find a complete description of the complaint settlement process and information on how you can
contact the Canadian Banking Ombudsman and the Financial Consumer Agency of Canada.
You also have the option of contacting the Privacy Commissioner of Canada at the following address:
PRIVACY COMMISSIONER OF CANADA
112 KENT ST.
OTTAWA, ONTARIO K1A 1H3
TELEPHONE: (613) 995-8210
TOLL-FREE: 1-800-282-1376

17671-012 (2003-02-27) Page 2 of 2