The ShareSave 2022 offer is now closed to new applications. Look out for future ShareSave offers on this Colleague Share Plan hub or on our dedicated Colleague Share Plan Workplace Group.

Our Share Plan Administrator, Computershare, hold an account for you, which is accessed via the EquatePlus portal. You can access EquatePlus from the NatWest Group network here.

If you’re not on the NatWest Group network, you can access your account via www.equateplus.com. You’ll need your User ID, which you’ll find in your ShareSave joiner email. If you’ve not received your User ID, contact Computershare on +44 (0)370 702 0109. You can also use the online chat function on EquatePlus.

Once you've accessed EquatePlus, follow the on-screen instructions to set your new password and complete the account setup.

You can also download the free EquateMobile app after you’ve completed the account setup, just search ‘EquateMobile’ in the App or Play Store. This is a quick and easy way of managing your share plans at a time that suits you.

An option is the opportunity to buy a set number of NatWest Group shares at the end of your savings period at a price that's fixed shortly before you start saving. If the NatWest Group share price at the end of the savings period is higher than the option price, you could use the money you save to take up your option and then sell your NatWest Group shares for more than you paid for them.

The Group has to set a maximum number of shares it can use for any ShareSave offer it makes. This means that the offer could be oversubscribed if too many applications are received. If this happens, we’ll need to ‘scale back’ each application. This means we’d reduce everyone’s savings on a proportional basis so that everyone who wants to join can.

We'll only know this after the application deadline has passed and once we have received the total number of applications. It will not be possible to advise in advance of the application deadline if a scale back will be necessary. Your Option Certificate, which will be sent to you in advance of your first payment, will confirm whether a scale back was applied, what your actual monthly contribution will be and the maximum number of shares that you'll be entitled to under this ShareSave scheme.

Your savings will be held in a special pooled account with Standard Chartered Bank (SCB) in India, set up solely for the purpose of holding ShareSave savings for colleagues in India who choose to participate in ShareSave. Balances will not be held in your individual name and therefore will not be covered on an individual basis by the Deposit Insurance and Credit Guarantee Corporation.

The arrangement to hold colleague savings with SCB in this manner is a ‘pass-through’ arrangement, whereby SCB is merely collecting and routing the colleague payments to NatWest Group in the United Kingdom (or to NatWest Group’s Employee Benefit Trust), on request to exercise an option to buy NatWest Group shares. This will normally occur after the expiry of three years or earlier for colleagues who leave in certain circumstances. Colleagues may also request the return of their savings at any time should they choose to stop saving and wish to receive back their accumulated savings. No interest will be paid on amounts collected, whether they are used to buy shares or returned to colleagues.

No, the amount is fixed when you start saving and cannot be changed after the offer period closes.

Yes, you can stop saving into ShareSave at any time and take back all the money you have saved. But remember, once you cancel, you can't re-enter the same ShareSave contract. You can cancel your existing contracts via the EquatePlus website or by contacting the Computershare Helpline on +44 (0)370 702 0109.

You can stop your regular savings at any time and either leave your savings where they are or ask for them back. Once you've stopped your regular savings contributions you can't restart them. If you’ve saved for less than 12 months in total by the time the three year savings period ends, your options will lapse, meaning you lose the opportunity to buy shares at the option price. If you leave your savings where they are, have made at least twelve payments, and remain in the employment of NatWest Group at the end of the 3 year savings period, you'll be able to exercise your option on the scheduled maturity date using whatever savings you had accrued up to the point of cancelling your regular contribution. The number of shares you'll be able to buy will be reduced accordingly.

Joining ShareSave and the exercise of your ShareSave option are not transactions that are subject to the Personal Account Dealing Policy. However, if you choose to sell your shares at the end of the 3-year saving period, you will need to consider the Personal Account Dealing Policy.

If, during your three-year savings contract, you:

• retire;
• are made redundant;
• leave due to injury or disability; or
• the company or business by which you are employed ceases to be a member of the NatWest Group;

Computershare will write to you with details of your choices.

As a guide, you'll be able to:

• buy a reduced number of NatWest Group shares with the savings you have built up (you’ll have 6 months from leaving the Group to decide if you want to do this). Please note – because NatWest Group has an obligation to withhold taxes on exercise of an option your shares must be sold if you choose to buy them in the circumstances described here; or
• take back your savings in cash.

If you resign or leave for any other reason not covered above, your option will end and you will not be able to buy NatWest Group shares at the option price, but you’ll be able to take your savings back in cash.

In the event of your death, your personal representatives may either buy a reduced number of NatWest Group shares with your built-up savings (they’ll have 12 months from your death to decide if they want to do this) or take back your savings in cash.

If you move to another part of the Group in a different country, you’ll have to stop saving into ShareSave. If you've saved for at least 12 months then you’ll still have an opportunity at the end of 3 years to exercise your option and buy a reduced number NatWest Group shares with the savings you have built up. Or you can take your savings back as cash at any time.

We take a fresh look each year to decide if we can run ShareSave and how it will work. Before making a ShareSave offer, we have to consider the commitments we’ve given to shareholders concerning the number of shares which we may issue under our colleague share plans. These include limits on the number of share options we may grant. A ShareSave offer represents a real cost to NatWest Group and its shareholders. Each year we review our existing commitments to decide whether a ShareSave offer can be made and, if so, the number of NatWest Group shares that can be made available. Balancing the interests of our colleagues and our shareholders is important, we want to make ShareSave available to as many colleagues as possible and offer flexibility on how much can be saved.

No decision has been taken in respect of any future offers; this is decided annually.

Application to join ShareSave and grant of options
No tax or social security obligations arise on joining the ShareSave plan or when a ShareSave option is granted to you.

Maturity of a ShareSave option
No tax or social security obligations arise on maturity of a ShareSave option.

Exercise of a ShareSave option and allotment or allocation of shares
Income tax, as well as health and education cess and surcharge, if applicable, is payable on exercise of your option and allotment or allocation of shares (which normally happens simultaneously) on the difference between the value of the NatWest Group shares at exercise and the option (exercise) price paid by you, but neither employee nor employer social security is due.

Your employer is required to withhold tax on the taxable amount and remit the amounts withheld to the account of Government treasury.

Your employer must provide you with Form 16 (certificate for tax deduction at source) and Form 12BA (statement showing particulars of perquisites, amenities and profits in lieu of salary) by 15 June of the year following the year in which the taxable event occurs.

Sale of shares acquired from the exercise of a ShareSave option
Tax on the gains from the sale of NatWest Group shares acquired from the exercise of a ShareSave option is subject to the following rules:

Shares held for 24 months or less from the date of exercise of your option and allotment or allocation of shares: The Short-Term Capital Gains regime applies whereby progressive income tax rates are applicable to an individual (plus health and education cess and, if applicable, surcharge).

Shares held over 24 months from the date of exercise of your option and allotment or allocation of shares: The Long-Term Capital Gains regime applies whereby the gain is subject to a flat tax rate of 20% (plus health and education cess and, if applicable, surcharge). The benefit of indexation would be available, where applicable.

Short term capital losses may be offset against any gain (short-term capital gains or long-term capital gains), while long term capital losses may only be offset against long term capital gains. Any loss must first be used against gains made in the same tax year. Any remaining losses may be carried forward for 8 subsequent years, but must be utilised at the first available opportunity.

Reporting of foreign assets
Individuals who are resident and ordinarily resident in India are required to disclose the details of all foreign assets held by them outside India in their Annual Tax Return. NatWest Group shares acquired following exercise need to be reported in Schedule FA of the tax return in the year of acquisition and thereafter on an annual basis until sale. The nature of the asset, total investment in the asset, date of acquisition, income from such shares, and the country in which the asset is held should be reported.

Important Note
If you are in any doubt as to the tax implications of joining ShareSave, the exercise of ShareSave options and/or the sale of shares obtained from exercising a ShareSave option you should seek your own independent advice. Remember tax legislation can change over time.

If you join ShareSave you will save in INR but the option price is set in GBP. This is because NatWest Group ordinary shares are listed and traded on the London Stock Exchange in GBP.

If at the end of the three-year savings period you choose to exercise your option to buy shares, your savings will be converted to GBP at that point. This means that during the three-year savings period your savings are unaffected by fluctuations in FX rates. The conversion to GBP happens only if you choose to exercise your option.

Changes in FX rates may impact your savings and/or the number of shares you may buy in two ways:

• If the FX rate has remained the same, or INR has strengthened against GBP, you will be able to buy the full number of shares under option. If there is a surplus this will either be returned to you via your payroll or, depending on the amount, donated to charity.
• If INR has weakened against GBP you will not be able to buy the full number of shares under option. You cannot make up any shortfall by adding extra INR to your savings.

Important Note
If you are in any doubt as to the tax implications of joining ShareSave, the exercise of ShareSave options and/or the sale of shares obtained from exercising a ShareSave option you should seek your own independent advice.

This document contains only some information relating to the NatWest Group plc International ShareSave Plan (the ‘Plan’) (a supplementary plan to the NatWest Group plc 2017 UK ShareSave Plan).

Your participation, or right to participate, in the Plan is governed by the Plan rules and does not affect, or form part of, your contract of employment. These rules include specific provisions limiting your rights under the Plan.

You will not have any rights to compensation or damages for any loss of rights, benefits or prospective benefits under the Plan as a consequence of the termination of your employment. There is no guarantee that the Plan will be operated in future years, or, if it is operated, that you will be selected for participation in it. NatWest Group plc ('NatWest' or 'the Group') may amend, suspend or terminate all or any part of the Plan at any time, but may only do so in accordance with the Plan rules.

References in this document to any taxation consequences are those generally applying at the time of publication. They are provided for guidance only. Tax legislation may change in the future. The actual taxation consequences and the availability (and value) of any tax relief will depend on your own individual circumstances.

In the event of any conflict between this document and the Plan rules or any applicable legislation, the Plan rules and legislation will take precedence.

The maximum aggregate number of NatWest Group shares being offered under NatWest Group plc 2017 ShareSave Plan and NatWest Group plc International ShareSave Plan on this occasion will not exceed 30 million shares and the minimum number is nil.

Further information on NatWest and details of the rights attaching to the shares can be found in the Investor Relations section of the Group's website at natwestgroup.com.

No information in this document should be taken as providing any investment or financial advice or as a recommendation to buy, sell or hold shares in NatWest Group.

The value of NatWest Group shares and any income from them can fall as well as rise and an investor might not receive back the full amount invested in NatWest Group shares.

If you are in any doubt as to what action you should take and/or the financial or taxation implications of any decisions you might make, you are strongly recommended to seek independent professional advice.

NatWest Group plc
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Registered Office: 36 St Andrew Square
Edinburgh EH2 2YB