Rabobank intends to make a distribution in the form of Rabobank Certificates at the end of 2020

Rabobank announces its intention to pay an exceptional distribution in the form of Rabobank Certificates in December 2020 to investors who are holding certificates on a to be specified future date. This will be the approximate equivalent of EUR 1.625 per Rabobank Certificate. This intended distribution is still subject to the full discretion of the Executive Board of Rabobank. Further details will be announced in due time.

On 13 August 2020, Rabobank announced that it is adhering to the extended ECB recommendation (published on 28 July 2020) and that it will not be paying any cash distributions on Rabobank Certificates during the full year of 2020. Concurrently Rabobank stated that it will carefully assess the possibility of making a distribution in the form of Rabobank Certificates. The bank has finalized this assessment and is now announcing its intention to make a distribution in the form of Rabobank Certificates in December 2020.

The intended distribution will in itself not impact Rabobank’s solid capital position, nor its healthy Common Equity Tier 1 (CET1) ratio. The bank will stay focused on maintaining a solid capital base to continue to serve clients as much as possible in these challenging times.

Bas Brouwers, CFO of Rabobank: ‘COVID-19 still has a major impact on the world and its economy. As a cooperative bank it remains our priority to support the economy and help our clients through this crisis. We also acknowledge the impact on both our retail and institutional investors of Rabobank adhering to the ECB recommendations. We consider the intended distribution in the form of Rabobank Certificates as an exceptional measure in these unprecedented times’.

The bank will closely monitor further updates and announcements from the regulators. Distributions on Rabobank Certificates are fully discretionary. The Executive Board of Rabobank can always decide whether or not a distribution will be made, as well as the level and form of distributions.

Euronext may change the trading mode for Rabobank Certificates after this and any future announcement of Rabobank. Further information about the Rabobank Certificates and the trading mode as applied by Euronext is available on www.rabobank.com/certificates.

Elements of this press release are considered by Rabobank as inside information relating directly or indirectly to Rabobank within the meaning of article 7 of the Market Abuse Regulation (EU Regulation 596/2014) that is made public in accordance with article 17 Market Abuse Regulation.