ESG ratings and benchmarks

Ratings as at 26 August 2025

Footnotes:

(1) The ESG ratings presented on this page are ratings that (i) have been updated in 2024/25 on NatWest Group (or its subsidiaries); and (ii) we have determined provide meaningful benchmarking against our peers and industry standards. These ratings are (i) unsolicited;  (ii) subject to the assessment and interpretation by the ESG rating agencies which use different definitions, scope and methodologies leading to variation in ESG ratings for any given company; (iii) provided without warranty; (iv) not a sponsorship, endorsement, or promotion of NatWest Group by the relevant rating agency; and (v) may depend on many factors some of which are beyond NatWest Group’s control (e.g. any change in rating methodology). Currently, ESG rating providers are not subject to any specific regulatory or other regime or oversight like credit rating agencies. Some ESG ratings providers only rely on public information and outputs and therefore their ESG rating may be subject to data gaps.

(2) Copyright © 2024 Morningstar Sustainalytics. All rights reserved. This publication contains information developed by Sustainalytics (www.sustainalytics.com). Such information and data are proprietary of Sustainalytics and/or its third-party suppliers (Third Party Data) and are provided for informational purposes only. They do not constitute an endorsement of any product or project, nor an investment advice and are not warranted to be complete, timely, accurate or suitable for a particular purpose. Their use is subject to conditions available at https://www.sustainalytics. com/legal-disclaimers.

(3) The use by NatWest Group of any MSCI ESG Research LLC or its affiliates (“MSCI”) data, and the use of MSCI logos, trademarks, service marks or index names herein do not constitute a sponsorship, endorsement, recommendation, or promotion of NatWest Group by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided “as-is” and without warranty. MSCI names and logos are trademarks or service marks of MSCI.