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NATIONAL BANK OF CANADA 2024-2025 Proxy Voting Records

Compiled from SEC Form N-PX filings. Page generated 02 October 2026.

43Reported items
157Asset managers
4,241Fund votes
2025-04-24Meeting date

Proxy season: 2023-2024 2024-2025 2025-2026

Explore NATIONAL BANK OF CANADA in the interactive database Compare manager voting policies

How asset managers voted at the NATIONAL BANK OF CANADA 2024-2025 meeting

Each item below shows how the 157 asset managers that disclosed a NATIONAL BANK OF CANADA vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of NATIONAL BANK OF CANADA’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.

1. Advisory resolution to accept the approach taken by the Bank's Board of Directors with respect to executive compensation. The text of the resolution is set out in Section 1 of the Management Proxy Circular.

SECTION 14A SAY-ON-PAY VOTES

Combines 6 wordings of this item as funds reported it.

99.7% fund support · no official result

FOR 99.7%

The 91 asset managers below cast 99.7% of the shares they voted on this item FOR (36,686,231 for, 103,589 against).

FOR: 36,686,231 (99.7%)AGAINST: 103,589 (0.3%)

Largest asset managers voting on “Advisory resolution to accept the approach taken by the Bank's Board of Directors with respect to executive co” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Against	Vote
BlackRock	18,152,291	0	For
1832 Asset Management L.P.	6,554,058	0	For
Fiera Capital Corp	3,916,430	0	For
JARISLOWSKY, FRASER Ltd	2,794,068	99,718	For
SCOTIA CAPITAL INC.	1,723,343	0	For
JPMorgan	1,375,369	0	For
Cardinal Capital Management, Inc.	808,655	0	For
Northern Trust	396,845	0	For
National Bank Financial Inc.	172,626	0	For
Korea Investment CORP	161,139	0	For
Six Circles Trust	101,112	0	For
Gold Investment Management Ltd.	100,138	0	For
NATIONAL BANK TRUST INC.	74,582	0	For
John Hancock	62,522	0	For
Ativo Capital Management LLC	34,990	0	For
Value Partners Investments Inc.	29,558	0	For
Jackson National	25,712	0	For
Cardinal Capital Management	25,658	0	For
MASTER INVESTMENT PORTFOLIO	24,063	0	For
Bridge Builder Trust	15,675	0	For
GREEN CENTURY FUNDS	14,890	0	For
Allianz	13,117	0	For
One Capital Management, LLC	10,690	0	For
Goldman Sachs	8,692	0	For
INTRUST BANK NA	8,496	0	For

Showing the 25 largest of 91 asset managers. See all 91 in the interactive database.

2. ELECTION OF DIRECTOR: ANNICK GUERARD

DIRECTOR ELECTIONS

Combines 3 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.9%

The 66 asset managers below cast 99.9% of the shares they voted on this item FOR (32,981,173 for, 14,890 against).

FOR: 32,981,173 (100.0%)AGAINST: 14,890 (0.0%)

Largest asset managers voting on “ELECTION OF DIRECTOR: ANNICK GUERARD” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Vote
Vanguard	10,040,274	For
Capital Group	6,828,505	For
Dimensional	3,211,889	For
T. Rowe Price	3,067,411	For
Fidelity	2,066,069	For
BlackRock	1,627,608	For
JPMorgan	1,375,369	For
TWEEDY, BROWNE FUND INC.	1,124,700	For
Charles Schwab	940,403	For
State Street	729,712	For
TIAA	619,716	For
American Century	251,713	For
Six Circles Trust	101,112	For
Victory Capital	81,069	For
Franklin Templeton	80,410	For
SEI	78,901	For
IMPAX FUNDS SERIES TRUST III	78,460	For
John Hancock	62,522	For
Northern Trust	42,348	For
BOSTON TRUST WALDEN FUNDS	38,200	For
AIG/SunAmerica	35,833	For
EUPAC FUND	32,578	For
Goldman Sachs	26,814	For
Jackson National	25,712	For
MASTER INVESTMENT PORTFOLIO	24,063	For

Showing the 25 largest of 66 asset managers. See all 66 in the interactive database.

3. ELECTION OF DIRECTOR: ARIELLE MELOUL-WECHSLER

DIRECTOR ELECTIONS

Combines 3 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.9%

The 66 asset managers below cast 99.9% of the shares they voted on this item FOR (32,981,173 for, 14,890 against).

FOR: 32,981,173 (100.0%)AGAINST: 14,890 (0.0%)

Largest asset managers voting on “ELECTION OF DIRECTOR: ARIELLE MELOUL-WECHSLER” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Vote
Vanguard	10,040,274	For
Capital Group	6,828,505	For
Dimensional	3,211,889	For
T. Rowe Price	3,067,411	For
Fidelity	2,066,069	For
BlackRock	1,627,608	For
JPMorgan	1,375,369	For
TWEEDY, BROWNE FUND INC.	1,124,700	For
Charles Schwab	940,403	For
State Street	729,712	For
TIAA	619,716	For
American Century	251,713	For
Six Circles Trust	101,112	For
Victory Capital	81,069	For
Franklin Templeton	80,410	For
SEI	78,901	For
IMPAX FUNDS SERIES TRUST III	78,460	For
John Hancock	62,522	For
Northern Trust	42,348	For
BOSTON TRUST WALDEN FUNDS	38,200	For
AIG/SunAmerica	35,833	For
EUPAC FUND	32,578	For
Goldman Sachs	26,814	For
Jackson National	25,712	For
MASTER INVESTMENT PORTFOLIO	24,063	For

Showing the 25 largest of 66 asset managers. See all 66 in the interactive database.

4. ELECTION OF DIRECTOR: IRFHAN RAWJI

DIRECTOR ELECTIONS

Combines 3 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.9%

The 66 asset managers below cast 99.9% of the shares they voted on this item FOR (32,981,173 for, 14,890 against).

FOR: 32,981,173 (100.0%)AGAINST: 14,890 (0.0%)

Largest asset managers voting on “ELECTION OF DIRECTOR: IRFHAN RAWJI” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Vote
Vanguard	10,040,274	For
Capital Group	6,828,505	For
Dimensional	3,211,889	For
T. Rowe Price	3,067,411	For
Fidelity	2,066,069	For
BlackRock	1,627,608	For
JPMorgan	1,375,369	For
TWEEDY, BROWNE FUND INC.	1,124,700	For
Charles Schwab	940,403	For
State Street	729,712	For
TIAA	619,716	For
American Century	251,713	For
Six Circles Trust	101,112	For
Victory Capital	81,069	For
Franklin Templeton	80,410	For
SEI	78,901	For
IMPAX FUNDS SERIES TRUST III	78,460	For
John Hancock	62,522	For
Northern Trust	42,348	For
BOSTON TRUST WALDEN FUNDS	38,200	For
AIG/SunAmerica	35,833	For
EUPAC FUND	32,578	For
Goldman Sachs	26,814	For
Jackson National	25,712	For
MASTER INVESTMENT PORTFOLIO	24,063	For

Showing the 25 largest of 66 asset managers. See all 66 in the interactive database.

5. ELECTION OF DIRECTOR: SCOTT BURROWS

DIRECTOR ELECTIONS

Combines 3 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.9%

The 66 asset managers below cast 99.9% of the shares they voted on this item FOR (32,981,173 for, 14,890 against).

FOR: 32,981,173 (100.0%)AGAINST: 14,890 (0.0%)

Largest asset managers voting on “ELECTION OF DIRECTOR: SCOTT BURROWS” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Vote
Vanguard	10,040,274	For
Capital Group	6,828,505	For
Dimensional	3,211,889	For
T. Rowe Price	3,067,411	For
Fidelity	2,066,069	For
BlackRock	1,627,608	For
JPMorgan	1,375,369	For
TWEEDY, BROWNE FUND INC.	1,124,700	For
Charles Schwab	940,403	For
State Street	729,712	For
TIAA	619,716	For
American Century	251,713	For
Six Circles Trust	101,112	For
Victory Capital	81,069	For
Franklin Templeton	80,410	For
SEI	78,901	For
IMPAX FUNDS SERIES TRUST III	78,460	For
John Hancock	62,522	For
Northern Trust	42,348	For
BOSTON TRUST WALDEN FUNDS	38,200	For
AIG/SunAmerica	35,833	For
EUPAC FUND	32,578	For
Goldman Sachs	26,814	For
Jackson National	25,712	For
MASTER INVESTMENT PORTFOLIO	24,063	For

Showing the 25 largest of 66 asset managers. See all 66 in the interactive database.

6. ELECTION OF DIRECTOR: KAREN KINSLEY

DIRECTOR ELECTIONS

Combines 3 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.8%

The 66 asset managers below cast 99.9% of the shares they voted on this item FOR (32,953,864 for, 14,890 against).

FOR: 32,953,864 (99.9%)AGAINST: 14,890 (0.0%)ABSTAIN: 27,309 (0.1%)

Largest asset managers voting on “ELECTION OF DIRECTOR: KAREN KINSLEY” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Abstain	Vote
Vanguard	10,040,274	0	For
Capital Group	6,828,505	0	For
Dimensional	3,211,889	0	For
T. Rowe Price	3,067,411	0	For
Fidelity	2,066,069	0	For
BlackRock	1,627,608	0	For
JPMorgan	1,375,369	0	For
TWEEDY, BROWNE FUND INC.	1,124,700	0	For
Charles Schwab	940,403	0	For
State Street	729,712	0	For
TIAA	619,716	0	For
American Century	251,713	0	For
Six Circles Trust	101,112	0	For
Victory Capital	81,069	0	For
Franklin Templeton	80,410	0	For
SEI	78,901	0	For
IMPAX FUNDS SERIES TRUST III	78,460	0	For
John Hancock	62,522	0	For
Northern Trust	19,054	23,294	Abstain
BOSTON TRUST WALDEN FUNDS	38,200	0	For
AIG/SunAmerica	35,833	0	For
EUPAC FUND	32,578	0	For
Goldman Sachs	26,814	0	For
Jackson National	25,712	0	For
MASTER INVESTMENT PORTFOLIO	24,063	0	For

Showing the 25 largest of 66 asset managers. See all 66 in the interactive database.

7. ELECTION OF DIRECTOR: LAURENT FERREIRA

DIRECTOR ELECTIONS

Combines 3 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.9%

The 66 asset managers below cast 99.9% of the shares they voted on this item FOR (32,981,173 for, 14,890 against).

FOR: 32,981,173 (100.0%)AGAINST: 14,890 (0.0%)

Largest asset managers voting on “ELECTION OF DIRECTOR: LAURENT FERREIRA” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Vote
Vanguard	10,040,274	For
Capital Group	6,828,505	For
Dimensional	3,211,889	For
T. Rowe Price	3,067,411	For
Fidelity	2,066,069	For
BlackRock	1,627,608	For
JPMorgan	1,375,369	For
TWEEDY, BROWNE FUND INC.	1,124,700	For
Charles Schwab	940,403	For
State Street	729,712	For
TIAA	619,716	For
American Century	251,713	For
Six Circles Trust	101,112	For
Victory Capital	81,069	For
Franklin Templeton	80,410	For
SEI	78,901	For
IMPAX FUNDS SERIES TRUST III	78,460	For
John Hancock	62,522	For
Northern Trust	42,348	For
BOSTON TRUST WALDEN FUNDS	38,200	For
AIG/SunAmerica	35,833	For
EUPAC FUND	32,578	For
Goldman Sachs	26,814	For
Jackson National	25,712	For
MASTER INVESTMENT PORTFOLIO	24,063	For

Showing the 25 largest of 66 asset managers. See all 66 in the interactive database.

8. ELECTION OF DIRECTOR: LYNN LOEWEN

DIRECTOR ELECTIONS

Combines 3 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.9%

The 66 asset managers below cast 99.9% of the shares they voted on this item FOR (32,981,173 for, 14,890 against).

FOR: 32,981,173 (100.0%)AGAINST: 14,890 (0.0%)

Largest asset managers voting on “ELECTION OF DIRECTOR: LYNN LOEWEN” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Vote
Vanguard	10,040,274	For
Capital Group	6,828,505	For
Dimensional	3,211,889	For
T. Rowe Price	3,067,411	For
Fidelity	2,066,069	For
BlackRock	1,627,608	For
JPMorgan	1,375,369	For
TWEEDY, BROWNE FUND INC.	1,124,700	For
Charles Schwab	940,403	For
State Street	729,712	For
TIAA	619,716	For
American Century	251,713	For
Six Circles Trust	101,112	For
Victory Capital	81,069	For
Franklin Templeton	80,410	For
SEI	78,901	For
IMPAX FUNDS SERIES TRUST III	78,460	For
John Hancock	62,522	For
Northern Trust	42,348	For
BOSTON TRUST WALDEN FUNDS	38,200	For
AIG/SunAmerica	35,833	For
EUPAC FUND	32,578	For
Goldman Sachs	26,814	For
Jackson National	25,712	For
MASTER INVESTMENT PORTFOLIO	24,063	For

Showing the 25 largest of 66 asset managers. See all 66 in the interactive database.

9. ELECTION OF DIRECTOR: MACKY TALL

DIRECTOR ELECTIONS

Combines 3 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.8%

The 66 asset managers below cast 99.9% of the shares they voted on this item FOR (32,953,864 for, 14,890 against).

FOR: 32,953,864 (99.9%)AGAINST: 14,890 (0.0%)ABSTAIN: 27,309 (0.1%)

Largest asset managers voting on “ELECTION OF DIRECTOR: MACKY TALL” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Abstain	Vote
Vanguard	10,040,274	0	For
Capital Group	6,828,505	0	For
Dimensional	3,211,889	0	For
T. Rowe Price	3,067,411	0	For
Fidelity	2,066,069	0	For
BlackRock	1,627,608	0	For
JPMorgan	1,375,369	0	For
TWEEDY, BROWNE FUND INC.	1,124,700	0	For
Charles Schwab	940,403	0	For
State Street	729,712	0	For
TIAA	619,716	0	For
American Century	251,713	0	For
Six Circles Trust	101,112	0	For
Victory Capital	81,069	0	For
Franklin Templeton	80,410	0	For
SEI	78,901	0	For
IMPAX FUNDS SERIES TRUST III	78,460	0	For
John Hancock	62,522	0	For
Northern Trust	19,054	23,294	Abstain
BOSTON TRUST WALDEN FUNDS	38,200	0	For
AIG/SunAmerica	35,833	0	For
EUPAC FUND	32,578	0	For
Goldman Sachs	26,814	0	For
Jackson National	25,712	0	For
MASTER INVESTMENT PORTFOLIO	24,063	0	For

Showing the 25 largest of 66 asset managers. See all 66 in the interactive database.

10. ELECTION OF DIRECTOR: PATRICIA CURADEAU-GROU

DIRECTOR ELECTIONS

Combines 3 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.9%

The 66 asset managers below cast 99.9% of the shares they voted on this item FOR (32,981,173 for, 14,890 against).

FOR: 32,981,173 (100.0%)AGAINST: 14,890 (0.0%)

Largest asset managers voting on “ELECTION OF DIRECTOR: PATRICIA CURADEAU-GROU” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Vote
Vanguard	10,040,274	For
Capital Group	6,828,505	For
Dimensional	3,211,889	For
T. Rowe Price	3,067,411	For
Fidelity	2,066,069	For
BlackRock	1,627,608	For
JPMorgan	1,375,369	For
TWEEDY, BROWNE FUND INC.	1,124,700	For
Charles Schwab	940,403	For
State Street	729,712	For
TIAA	619,716	For
American Century	251,713	For
Six Circles Trust	101,112	For
Victory Capital	81,069	For
Franklin Templeton	80,410	For
SEI	78,901	For
IMPAX FUNDS SERIES TRUST III	78,460	For
John Hancock	62,522	For
Northern Trust	42,348	For
BOSTON TRUST WALDEN FUNDS	38,200	For
AIG/SunAmerica	35,833	For
EUPAC FUND	32,578	For
Goldman Sachs	26,814	For
Jackson National	25,712	For
MASTER INVESTMENT PORTFOLIO	24,063	For

Showing the 25 largest of 66 asset managers. See all 66 in the interactive database.

11. ELECTION OF DIRECTOR: PIERRE BLOUIN

DIRECTOR ELECTIONS

Combines 3 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.9%

The 66 asset managers below cast 99.9% of the shares they voted on this item FOR (32,981,173 for, 14,890 against).

FOR: 32,981,173 (100.0%)AGAINST: 14,890 (0.0%)

Largest asset managers voting on “ELECTION OF DIRECTOR: PIERRE BLOUIN” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Vote
Vanguard	10,040,274	For
Capital Group	6,828,505	For
Dimensional	3,211,889	For
T. Rowe Price	3,067,411	For
Fidelity	2,066,069	For
BlackRock	1,627,608	For
JPMorgan	1,375,369	For
TWEEDY, BROWNE FUND INC.	1,124,700	For
Charles Schwab	940,403	For
State Street	729,712	For
TIAA	619,716	For
American Century	251,713	For
Six Circles Trust	101,112	For
Victory Capital	81,069	For
Franklin Templeton	80,410	For
SEI	78,901	For
IMPAX FUNDS SERIES TRUST III	78,460	For
John Hancock	62,522	For
Northern Trust	42,348	For
BOSTON TRUST WALDEN FUNDS	38,200	For
AIG/SunAmerica	35,833	For
EUPAC FUND	32,578	For
Goldman Sachs	26,814	For
Jackson National	25,712	For
MASTER INVESTMENT PORTFOLIO	24,063	For

Showing the 25 largest of 66 asset managers. See all 66 in the interactive database.

12. ELECTION OF DIRECTOR: PIERRE BOIVIN

DIRECTOR ELECTIONS

Combines 3 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.9%

The 66 asset managers below cast 99.9% of the shares they voted on this item FOR (32,981,173 for, 14,890 against).

FOR: 32,981,173 (100.0%)AGAINST: 14,890 (0.0%)

Largest asset managers voting on “ELECTION OF DIRECTOR: PIERRE BOIVIN” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Vote
Vanguard	10,040,274	For
Capital Group	6,828,505	For
Dimensional	3,211,889	For
T. Rowe Price	3,067,411	For
Fidelity	2,066,069	For
BlackRock	1,627,608	For
JPMorgan	1,375,369	For
TWEEDY, BROWNE FUND INC.	1,124,700	For
Charles Schwab	940,403	For
State Street	729,712	For
TIAA	619,716	For
American Century	251,713	For
Six Circles Trust	101,112	For
Victory Capital	81,069	For
Franklin Templeton	80,410	For
SEI	78,901	For
IMPAX FUNDS SERIES TRUST III	78,460	For
John Hancock	62,522	For
Northern Trust	42,348	For
BOSTON TRUST WALDEN FUNDS	38,200	For
AIG/SunAmerica	35,833	For
EUPAC FUND	32,578	For
Goldman Sachs	26,814	For
Jackson National	25,712	For
MASTER INVESTMENT PORTFOLIO	24,063	For

Showing the 25 largest of 66 asset managers. See all 66 in the interactive database.

13. ELECTION OF DIRECTOR: PIERRE POMERLEAU

DIRECTOR ELECTIONS

Combines 3 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.9%

The 66 asset managers below cast 99.9% of the shares they voted on this item FOR (32,981,173 for, 14,890 against).

FOR: 32,981,173 (100.0%)AGAINST: 14,890 (0.0%)

Largest asset managers voting on “ELECTION OF DIRECTOR: PIERRE POMERLEAU” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Vote
Vanguard	10,040,274	For
Capital Group	6,828,505	For
Dimensional	3,211,889	For
T. Rowe Price	3,067,411	For
Fidelity	2,066,069	For
BlackRock	1,627,608	For
JPMorgan	1,375,369	For
TWEEDY, BROWNE FUND INC.	1,124,700	For
Charles Schwab	940,403	For
State Street	729,712	For
TIAA	619,716	For
American Century	251,713	For
Six Circles Trust	101,112	For
Victory Capital	81,069	For
Franklin Templeton	80,410	For
SEI	78,901	For
IMPAX FUNDS SERIES TRUST III	78,460	For
John Hancock	62,522	For
Northern Trust	42,348	For
BOSTON TRUST WALDEN FUNDS	38,200	For
AIG/SunAmerica	35,833	For
EUPAC FUND	32,578	For
Goldman Sachs	26,814	For
Jackson National	25,712	For
MASTER INVESTMENT PORTFOLIO	24,063	For

Showing the 25 largest of 66 asset managers. See all 66 in the interactive database.

14. Elect Director Rebecca McKillican

DIRECTOR ELECTIONS

Combines 4 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.9%

The 66 asset managers below cast 99.9% of the shares they voted on this item FOR (32,981,173 for, 14,890 against).

FOR: 32,981,173 (100.0%)AGAINST: 14,890 (0.0%)

Largest asset managers voting on “Elect Director Rebecca McKillican” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Vote
Vanguard	10,040,274	For
Capital Group	6,828,505	For
Dimensional	3,211,889	For
T. Rowe Price	3,067,411	For
Fidelity	2,066,069	For
BlackRock	1,627,608	For
JPMorgan	1,375,369	For
TWEEDY, BROWNE FUND INC.	1,124,700	For
Charles Schwab	940,403	For
State Street	729,712	For
TIAA	619,716	For
American Century	251,713	For
Six Circles Trust	101,112	For
Victory Capital	81,069	For
Franklin Templeton	80,410	For
SEI	78,901	For
IMPAX FUNDS SERIES TRUST III	78,460	For
John Hancock	62,522	For
Northern Trust	42,348	For
BOSTON TRUST WALDEN FUNDS	38,200	For
AIG/SunAmerica	35,833	For
EUPAC FUND	32,578	For
Goldman Sachs	26,814	For
Jackson National	25,712	For
MASTER INVESTMENT PORTFOLIO	24,063	For

Showing the 25 largest of 66 asset managers. See all 66 in the interactive database.

15. ELECTION OF DIRECTOR: ROBERT PARE

DIRECTOR ELECTIONS

Combines 3 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.8%

The 66 asset managers below cast 99.9% of the shares they voted on this item FOR (32,953,864 for, 14,890 against).

FOR: 32,953,864 (99.9%)AGAINST: 14,890 (0.0%)ABSTAIN: 27,309 (0.1%)

Largest asset managers voting on “ELECTION OF DIRECTOR: ROBERT PARE” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Abstain	Vote
Vanguard	10,040,274	0	For
Capital Group	6,828,505	0	For
Dimensional	3,211,889	0	For
T. Rowe Price	3,067,411	0	For
Fidelity	2,066,069	0	For
BlackRock	1,627,608	0	For
JPMorgan	1,375,369	0	For
TWEEDY, BROWNE FUND INC.	1,124,700	0	For
Charles Schwab	940,403	0	For
State Street	729,712	0	For
TIAA	619,716	0	For
American Century	251,713	0	For
Six Circles Trust	101,112	0	For
Victory Capital	81,069	0	For
Franklin Templeton	80,410	0	For
SEI	78,901	0	For
IMPAX FUNDS SERIES TRUST III	78,460	0	For
John Hancock	62,522	0	For
Northern Trust	19,054	23,294	Abstain
BOSTON TRUST WALDEN FUNDS	38,200	0	For
AIG/SunAmerica	35,833	0	For
EUPAC FUND	32,578	0	For
Goldman Sachs	26,814	0	For
Jackson National	25,712	0	For
MASTER INVESTMENT PORTFOLIO	24,063	0	For

Showing the 25 largest of 66 asset managers. See all 66 in the interactive database.

16. ELECTION OF DIRECTOR: SARAH MORGAN-SILVESTER

DIRECTOR ELECTIONS

Combines 3 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.9%

The 66 asset managers below cast 99.9% of the shares they voted on this item FOR (32,981,173 for, 14,890 against).

FOR: 32,981,173 (100.0%)AGAINST: 14,890 (0.0%)

Largest asset managers voting on “ELECTION OF DIRECTOR: SARAH MORGAN-SILVESTER” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Vote
Vanguard	10,040,274	For
Capital Group	6,828,505	For
Dimensional	3,211,889	For
T. Rowe Price	3,067,411	For
Fidelity	2,066,069	For
BlackRock	1,627,608	For
JPMorgan	1,375,369	For
TWEEDY, BROWNE FUND INC.	1,124,700	For
Charles Schwab	940,403	For
State Street	729,712	For
TIAA	619,716	For
American Century	251,713	For
Six Circles Trust	101,112	For
Victory Capital	81,069	For
Franklin Templeton	80,410	For
SEI	78,901	For
IMPAX FUNDS SERIES TRUST III	78,460	For
John Hancock	62,522	For
Northern Trust	42,348	For
BOSTON TRUST WALDEN FUNDS	38,200	For
AIG/SunAmerica	35,833	For
EUPAC FUND	32,578	For
Goldman Sachs	26,814	For
Jackson National	25,712	For
MASTER INVESTMENT PORTFOLIO	24,063	For

Showing the 25 largest of 66 asset managers. See all 66 in the interactive database.

17. ELECTION OF DIRECTOR: YVON CHAREST

DIRECTOR ELECTIONS

Combines 3 wordings of this item as funds reported it.

99.9% fund support · no official result

FOR 99.8%

The 66 asset managers below cast 99.9% of the shares they voted on this item FOR (32,932,308 for, 14,890 against).

FOR: 32,932,308 (99.8%)AGAINST: 14,890 (0.0%)ABSTAIN: 48,865 (0.1%)

Largest asset managers voting on “ELECTION OF DIRECTOR: YVON CHAREST” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Abstain	Vote
Vanguard	10,040,274	0	For
Capital Group	6,828,505	0	For
Dimensional	3,211,889	0	For
T. Rowe Price	3,067,411	0	For
Fidelity	2,066,069	0	For
BlackRock	1,627,608	0	For
JPMorgan	1,375,369	0	For
TWEEDY, BROWNE FUND INC.	1,124,700	0	For
Charles Schwab	940,403	0	For
State Street	729,712	0	For
TIAA	619,716	0	For
American Century	251,713	0	For
Six Circles Trust	101,112	0	For
Victory Capital	81,069	0	For
Franklin Templeton	80,410	0	For
SEI	78,901	0	For
IMPAX FUNDS SERIES TRUST III	78,460	0	For
John Hancock	62,522	0	For
Northern Trust	19,054	23,294	Abstain
BOSTON TRUST WALDEN FUNDS	38,200	0	For
AIG/SunAmerica	35,833	0	For
EUPAC FUND	32,578	0	For
Goldman Sachs	26,814	0	For
Jackson National	25,712	0	For
MASTER INVESTMENT PORTFOLIO	24,063	0	For

Showing the 25 largest of 66 asset managers. See all 66 in the interactive database.

18. Advisory Vote on Executive Compensation Approach

COMPENSATION

98% fund support · no official result

FOR 98%

The 52 asset managers below cast 98% of the shares they voted on this item FOR (31,510,065 for, 619,716 against).

FOR: 31,510,065 (98.1%)AGAINST: 619,716 (1.9%)

Largest asset managers voting on “Advisory Vote on Executive Compensation Approach” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Against	Vote
Vanguard	10,040,274	0	For
Capital Group	6,828,505	0	For
Dimensional	3,211,889	0	For
T. Rowe Price	3,067,411	0	For
Fidelity	2,066,069	0	For
JPMorgan	1,515,595	0	For
TWEEDY, BROWNE FUND INC.	1,124,700	0	For
APG Asset Management US Inc.	892,585	0	For
State Street	729,712	0	For
Desjardins Global Asset Management Inc.	686,050	0	For
TIAA	0	619,716	Against
Dixon Mitchell Investment Counsel Inc.	443,204	0	For
American Century	251,713	0	For
Victory Capital	81,069	0	For
Franklin Templeton	80,410	0	For
Northern Trust	42,348	0	For
BOSTON TRUST WALDEN FUNDS	38,200	0	For
AIG/SunAmerica	35,833	0	For
EUPAC FUND	32,578	0	For
Goldman Sachs	26,814	0	For
Lattice Strategies Trust	23,717	0	For
OLD WESTBURY FUNDS INC	21,100	0	For
AQR	20,948	0	For
Pacific Life	20,698	0	For
HC CAPITAL TRUST	20,016	0	For

Showing the 25 largest of 52 asset managers. See all 52 in the interactive database.

19. Ratify Deloitte LLP as Auditors

AUDIT-RELATED

100% fund support · no official result

FOR 99.9%

The 46 asset managers below cast 100% of the shares they voted on this item FOR (28,577,760 for, 0 against).

FOR: 28,577,760 (100.0%)ABSTAIN: 8,646 (0.0%)

Largest asset managers voting on “Ratify Deloitte LLP as Auditors” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Vote
Vanguard	10,040,274	For
Capital Group	6,828,505	For
Dimensional	3,211,889	For
T. Rowe Price	3,067,411	For
Fidelity	2,066,069	For
TWEEDY, BROWNE FUND INC.	1,124,700	For
State Street	729,712	For
TIAA	619,716	For
American Century	251,713	For
Victory Capital	81,069	For
Franklin Templeton	80,410	For
Northern Trust	42,348	For
BOSTON TRUST WALDEN FUNDS	38,200	For
AIG/SunAmerica	35,833	For
EUPAC FUND	32,578	For
Goldman Sachs	26,814	For
Lattice Strategies Trust	23,717	For
OLD WESTBURY FUNDS INC	21,100	For
AQR	20,948	For
Pacific Life	20,698	For
HC CAPITAL TRUST	20,016	For
Calvert	20,010	For
First Trust	19,585	For
MassMutual	19,434	For
CLEARWATER INVESTMENT TRUST	19,328	For

Showing the 25 largest of 46 asset managers. See all 46 in the interactive database.

20. SP 1: Disclose Non-Confidential Information Relating to the Bank's Country-by-Country Reporting

OTHER SOCIAL ISSUES

0.5% fund support · no official result

AGAINST 99.5%

The 46 asset managers below cast 0.5% of the shares they voted on this item FOR (117,721 for, 28,468,685 against).

FOR: 117,721 (0.4%)AGAINST: 28,468,685 (99.6%)

Largest asset managers voting on “SP 1: Disclose Non-Confidential Information Relating to the Bank's Country-by-Country Reporting” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Against	Vote
Vanguard	0	10,040,274	Against
Capital Group	0	6,828,505	Against
Dimensional	0	3,211,889	Against
T. Rowe Price	0	3,067,411	Against
Fidelity	0	2,066,069	Against
TWEEDY, BROWNE FUND INC.	0	1,124,700	Against
State Street	0	729,712	Against
TIAA	0	619,716	Against
American Century	0	251,713	Against
Victory Capital	0	81,069	Against
Franklin Templeton	0	80,410	Against
Northern Trust	23,294	19,054	For
BOSTON TRUST WALDEN FUNDS	0	38,200	Against
AIG/SunAmerica	0	35,833	Against
EUPAC FUND	0	32,578	Against
Goldman Sachs	0	26,814	Against
Lattice Strategies Trust	0	23,717	Against
OLD WESTBURY FUNDS INC	0	21,100	Against
AQR	20,948	0	For
Pacific Life	0	20,698	Against
HC CAPITAL TRUST	19,630	386	For
Calvert	20,010	0	For
First Trust	0	19,585	Against
MassMutual	0	19,434	Against
CLEARWATER INVESTMENT TRUST	19,328	0	For

Showing the 25 largest of 46 asset managers. See all 46 in the interactive database.

21. SP 2: Advisory Vote on Environmental Policies

ENVIRONMENT OR CLIMATE

3% fund support · no official result

AGAINST 97%

The 46 asset managers below cast 3% of the shares they voted on this item FOR (742,123 for, 27,844,283 against).

FOR: 742,123 (2.6%)AGAINST: 27,844,283 (97.4%)

Largest asset managers voting on “SP 2: Advisory Vote on Environmental Policies” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Against	Vote
Vanguard	0	10,040,274	Against
Capital Group	0	6,828,505	Against
Dimensional	0	3,211,889	Against
T. Rowe Price	0	3,067,411	Against
Fidelity	0	2,066,069	Against
TWEEDY, BROWNE FUND INC.	0	1,124,700	Against
State Street	0	729,712	Against
TIAA	619,716	0	For
American Century	0	251,713	Against
Victory Capital	0	81,069	Against
Franklin Templeton	0	80,410	Against
Northern Trust	23,294	19,054	For
BOSTON TRUST WALDEN FUNDS	38,200	0	For
AIG/SunAmerica	0	35,833	Against
EUPAC FUND	0	32,578	Against
Goldman Sachs	0	26,814	Against
Lattice Strategies Trust	0	23,717	Against
OLD WESTBURY FUNDS INC	0	21,100	Against
AQR	20,948	0	For
Pacific Life	0	20,698	Against
HC CAPITAL TRUST	1,228	18,788	Against
Calvert	20,010	0	For
First Trust	0	19,585	Against
MassMutual	0	19,434	Against
CLEARWATER INVESTMENT TRUST	0	19,328	Against

Showing the 25 largest of 46 asset managers. See all 46 in the interactive database.

22. SP 3: Report on Forced Labor and Child Labor in Lending Profiles

HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE

0.5% fund support · no official result

AGAINST 99.5%

The 46 asset managers below cast 0.5% of the shares they voted on this item FOR (123,777 for, 28,462,629 against).

FOR: 123,777 (0.4%)AGAINST: 28,462,629 (99.6%)

Largest asset managers voting on “SP 3: Report on Forced Labor and Child Labor in Lending Profiles” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Against	Vote
Vanguard	0	10,040,274	Against
Capital Group	0	6,828,505	Against
Dimensional	0	3,211,889	Against
T. Rowe Price	0	3,067,411	Against
Fidelity	0	2,066,069	Against
TWEEDY, BROWNE FUND INC.	0	1,124,700	Against
State Street	0	729,712	Against
TIAA	0	619,716	Against
American Century	0	251,713	Against
Victory Capital	0	81,069	Against
Franklin Templeton	0	80,410	Against
Northern Trust	23,294	19,054	For
BOSTON TRUST WALDEN FUNDS	0	38,200	Against
AIG/SunAmerica	0	35,833	Against
EUPAC FUND	0	32,578	Against
Goldman Sachs	0	26,814	Against
Lattice Strategies Trust	0	23,717	Against
OLD WESTBURY FUNDS INC	0	21,100	Against
AQR	20,948	0	For
Pacific Life	0	20,698	Against
HC CAPITAL TRUST	19,630	386	For
Calvert	20,010	0	For
First Trust	0	19,585	Against
MassMutual	0	19,434	Against
CLEARWATER INVESTMENT TRUST	19,328	0	For

Showing the 25 largest of 46 asset managers. See all 46 in the interactive database.

23. SP 4: Adopt Advanced Generative AI Systems Voluntary Code of Conduct

OTHER SOCIAL ISSUES

0.4% fund support · no official result

AGAINST 99.6%

The 46 asset managers below cast 0.4% of the shares they voted on this item FOR (99,457 for, 28,486,949 against).

FOR: 99,457 (0.3%)AGAINST: 28,486,949 (99.7%)

Largest asset managers voting on “SP 4: Adopt Advanced Generative AI Systems Voluntary Code of Conduct” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Against	Vote
Vanguard	0	10,040,274	Against
Capital Group	0	6,828,505	Against
Dimensional	0	3,211,889	Against
T. Rowe Price	0	3,067,411	Against
Fidelity	0	2,066,069	Against
TWEEDY, BROWNE FUND INC.	0	1,124,700	Against
State Street	0	729,712	Against
TIAA	0	619,716	Against
American Century	0	251,713	Against
Victory Capital	0	81,069	Against
Franklin Templeton	0	80,410	Against
Northern Trust	23,294	19,054	For
BOSTON TRUST WALDEN FUNDS	0	38,200	Against
AIG/SunAmerica	0	35,833	Against
EUPAC FUND	0	32,578	Against
Goldman Sachs	0	26,814	Against
Lattice Strategies Trust	0	23,717	Against
OLD WESTBURY FUNDS INC	0	21,100	Against
AQR	0	20,948	Against
Pacific Life	0	20,698	Against
HC CAPITAL TRUST	18,658	1,358	For
Calvert	20,010	0	For
First Trust	0	19,585	Against
MassMutual	0	19,434	Against
CLEARWATER INVESTMENT TRUST	19,328	0	For

Showing the 25 largest of 46 asset managers. See all 46 in the interactive database.

24. SP 5: Employee Language Skills Disclosure

CORPORATE GOVERNANCEOTHER

0% fund support · no official result

AGAINST 100%

The 46 asset managers below cast 0% of the shares they voted on this item FOR (0 for, 28,586,406 against).

AGAINST: 28,586,406 (100.0%)

Largest asset managers voting on “SP 5: Employee Language Skills Disclosure” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	Against	Vote
Vanguard	10,040,274	Against
Capital Group	6,828,505	Against
Dimensional	3,211,889	Against
T. Rowe Price	3,067,411	Against
Fidelity	2,066,069	Against
TWEEDY, BROWNE FUND INC.	1,124,700	Against
State Street	729,712	Against
TIAA	619,716	Against
American Century	251,713	Against
Victory Capital	81,069	Against
Franklin Templeton	80,410	Against
Northern Trust	42,348	Against
BOSTON TRUST WALDEN FUNDS	38,200	Against
AIG/SunAmerica	35,833	Against
EUPAC FUND	32,578	Against
Goldman Sachs	26,814	Against
Lattice Strategies Trust	23,717	Against
OLD WESTBURY FUNDS INC	21,100	Against
AQR	20,948	Against
Pacific Life	20,698	Against
HC CAPITAL TRUST	20,016	Against
Calvert	20,010	Against
First Trust	19,585	Against
MassMutual	19,434	Against
CLEARWATER INVESTMENT TRUST	19,328	Against

Showing the 25 largest of 46 asset managers. See all 46 in the interactive database.

25. APPOINTMENT OF DELOITTE LLP AS INDEPENDENT AUDITOR

AUDIT-RELATED

Combines 2 wordings of this item as funds reported it.

100% fund support · no official result

FOR 100%

The 14 asset managers below cast 100% of the shares they voted on this item FOR (3,272,534 for, 0 against).

FOR: 3,272,534 (100.0%)

Largest asset managers voting on “APPOINTMENT OF DELOITTE LLP AS INDEPENDENT AUDITOR” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Vote
BlackRock	1,627,608	For
JPMorgan	1,375,369	For
Six Circles Trust	101,112	For
John Hancock	62,522	For
Jackson National	25,712	For
MASTER INVESTMENT PORTFOLIO	24,063	For
Bridge Builder Trust	15,675	For
GREEN CENTURY FUNDS	14,890	For
Allianz	13,117	For
TIMOTHY PLAN	5,387	For
Pacer Funds Trust	3,048	For
WILSHIRE MUTUAL FUNDS INC	2,200	For
GPS Funds I	1,450	For
CITY NATIONAL ROCHDALE FUNDS	381	For

26. Advisory Vote to Ratify Named Executive Officers' Compensation

SECTION 14A SAY-ON-PAY VOTES

99.9% fund support · no official result

FOR 99.9%

The 12 asset managers below cast 99.9% of the shares they voted on this item FOR (12,543,603 for, 67 against).

FOR: 12,543,603 (100.0%)AGAINST: 67 (0.0%)

Largest asset managers voting on “Advisory Vote to Ratify Named Executive Officers' Compensation” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Against	Vote
TD ASSET MANAGEMENT INC	10,460,855	0	For
Charles Schwab	940,403	0	For
TD Waterhouse Canada Inc.	916,960	0	For
SEI	78,901	0	For
IMPAX FUNDS SERIES TRUST III	78,460	0	For
Regime de rentes du Mouvement Desjardins	28,485	0	For
Hartford	20,662	0	For
Russell Investments	16,656	0	For
Brighthouse	1,341	0	For
Principal	700	0	For
LOUISBOURG INVESTMENTS INC.	180	0	For
Genus Capital Management Inc.	0	67	Against

27. PLEASE NOTE THAT THIS RESOLUTION IS A SHAREHOLDER PROPOSAL: ADVANCED GENERATIVE AI SYSTEMS AND CODE OF CONDUCT

OTHER SOCIAL ISSUES

14% fund support · no official result

14%AGAINST 86%

The 9 asset managers below cast 14% of the shares they voted on this item FOR (30,565 for, 188,836 against).

FOR: 30,565 (13.9%)AGAINST: 188,836 (86.1%)

Largest asset managers voting on “PLEASE NOTE THAT THIS RESOLUTION IS A SHAREHOLDER PROPOSAL: ADVANCED GENERATIVE AI SYSTEMS AND CODE OF CONDUCT” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Against	Vote
Six Circles Trust	0	101,112	Against
John Hancock	0	62,522	Against
Bridge Builder Trust	15,675	0	For
GREEN CENTURY FUNDS	14,890	0	For
Allianz	0	13,117	Against
TIMOTHY PLAN	0	5,387	Against
Pacer Funds Trust	0	3,048	Against
WILSHIRE MUTUAL FUNDS INC	0	2,200	Against
GPS Funds I	0	1,450	Against

28. PLEASE NOTE THAT THIS RESOLUTION IS A SHAREHOLDER PROPOSAL: ADVISORY VOTE ON ENVIRONMENTAL POLICIES

ENVIRONMENT OR CLIMATE

7% fund support · no official result

AGAINST 93%

The 9 asset managers below cast 7% of the shares they voted on this item FOR (14,890 for, 204,511 against).

FOR: 14,890 (6.8%)AGAINST: 204,511 (93.2%)

Largest asset managers voting on “PLEASE NOTE THAT THIS RESOLUTION IS A SHAREHOLDER PROPOSAL: ADVISORY VOTE ON ENVIRONMENTAL POLICIES” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Against	Vote
Six Circles Trust	0	101,112	Against
John Hancock	0	62,522	Against
Bridge Builder Trust	0	15,675	Against
GREEN CENTURY FUNDS	14,890	0	For
Allianz	0	13,117	Against
TIMOTHY PLAN	0	5,387	Against
Pacer Funds Trust	0	3,048	Against
WILSHIRE MUTUAL FUNDS INC	0	2,200	Against
GPS Funds I	0	1,450	Against

29. PLEASE NOTE THAT THIS RESOLUTION IS A SHAREHOLDER PROPOSAL: DISCLOSURE OF THE LANGUAGES IN WHICH EMPLOYEES ARE PROFICIENT

OTHER

7% fund support · no official result

AGAINST 93%

The 9 asset managers below cast 7% of the shares they voted on this item FOR (14,890 for, 204,511 against).

FOR: 14,890 (6.8%)AGAINST: 204,511 (93.2%)

Largest asset managers voting on “PLEASE NOTE THAT THIS RESOLUTION IS A SHAREHOLDER PROPOSAL: DISCLOSURE OF THE LANGUAGES IN WHICH EMPLOYEES ARE” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Against	Vote
Six Circles Trust	0	101,112	Against
John Hancock	0	62,522	Against
Bridge Builder Trust	0	15,675	Against
GREEN CENTURY FUNDS	14,890	0	For
Allianz	0	13,117	Against
TIMOTHY PLAN	0	5,387	Against
Pacer Funds Trust	0	3,048	Against
WILSHIRE MUTUAL FUNDS INC	0	2,200	Against
GPS Funds I	0	1,450	Against

30. PLEASE NOTE THAT THIS RESOLUTION IS A SHAREHOLDER PROPOSAL: FIGHTING AGAINST FORCED LABOUR AND CHILD LABOUR IN LOAN PORTFOLIOS

HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE

14% fund support · no official result

14%AGAINST 86%

The 9 asset managers below cast 14% of the shares they voted on this item FOR (30,565 for, 188,836 against).

FOR: 30,565 (13.9%)AGAINST: 188,836 (86.1%)

Largest asset managers voting on “PLEASE NOTE THAT THIS RESOLUTION IS A SHAREHOLDER PROPOSAL: FIGHTING AGAINST FORCED LABOUR AND CHILD LABOUR IN” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Against	Vote
Six Circles Trust	0	101,112	Against
John Hancock	0	62,522	Against
Bridge Builder Trust	15,675	0	For
GREEN CENTURY FUNDS	14,890	0	For
Allianz	0	13,117	Against
TIMOTHY PLAN	0	5,387	Against
Pacer Funds Trust	0	3,048	Against
WILSHIRE MUTUAL FUNDS INC	0	2,200	Against
GPS Funds I	0	1,450	Against

31. PLEASE NOTE THAT THIS RESOLUTION IS A SHAREHOLDER PROPOSAL: NON-CONFIDENTIAL PUBLIC DISCLOSURE, COUNTRY-BY-COUNTRY STATEMENT, COMPENSATION RATIOS AND TAX HAVENS

OTHER

14% fund support · no official result

14%AGAINST 86%

The 9 asset managers below cast 14% of the shares they voted on this item FOR (30,565 for, 188,836 against).

FOR: 30,565 (13.9%)AGAINST: 188,836 (86.1%)

Largest asset managers voting on “PLEASE NOTE THAT THIS RESOLUTION IS A SHAREHOLDER PROPOSAL: NON-CONFIDENTIAL PUBLIC DISCLOSURE, COUNTRY-BY-COU” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Against	Vote
Six Circles Trust	0	101,112	Against
John Hancock	0	62,522	Against
Bridge Builder Trust	15,675	0	For
GREEN CENTURY FUNDS	14,890	0	For
Allianz	0	13,117	Against
TIMOTHY PLAN	0	5,387	Against
Pacer Funds Trust	0	3,048	Against
WILSHIRE MUTUAL FUNDS INC	0	2,200	Against
GPS Funds I	0	1,450	Against

32. Appointment of Auditor

AUDIT-RELATED

100% fund support · no official result

FOR 99.8%

The 7 asset managers below cast 100% of the shares they voted on this item FOR (1,135,782 for, 0 against).

FOR: 1,135,782 (99.9%)ABSTAIN: 1,341 (0.1%)

Largest asset managers voting on “Appointment of Auditor” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Abstain	Vote
Charles Schwab	940,403	0	For
SEI	78,901	0	For
IMPAX FUNDS SERIES TRUST III	78,460	0	For
Hartford	20,662	0	For
Russell Investments	16,656	0	For
Brighthouse	0	1,341	Abstain
Principal	700	0	For

33. Shareholder Proposal Regarding Adhering to Voluntary Code of Conduct on AI Systems

OTHER SOCIAL ISSUES

0% fund support · no official result

AGAINST 93%

The 7 asset managers below cast 0% of the shares they voted on this item FOR (0 for, 1,058,663 against).

AGAINST: 1,058,663 (93.1%)ABSTAIN: 78,460 (6.9%)

Largest asset managers voting on “Shareholder Proposal Regarding Adhering to Voluntary Code of Conduct on AI Systems” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	Against	Abstain	Vote
Charles Schwab	940,403	0	Against
SEI	78,901	0	Against
IMPAX FUNDS SERIES TRUST III	0	78,460	Abstain
Hartford	20,662	0	Against
Russell Investments	16,656	0	Against
Brighthouse	1,341	0	Against
Principal	700	0	Against

34. Shareholder Proposal Regarding Disclosure of Country-by-Country Reporting

CORPORATE GOVERNANCE

0% fund support · no official result

AGAINST 100%

The 7 asset managers below cast 0% of the shares they voted on this item FOR (0 for, 1,137,123 against).

AGAINST: 1,137,123 (100.0%)

Largest asset managers voting on “Shareholder Proposal Regarding Disclosure of Country-by-Country Reporting” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	Against	Vote
Charles Schwab	940,403	Against
SEI	78,901	Against
IMPAX FUNDS SERIES TRUST III	78,460	Against
Hartford	20,662	Against
Russell Investments	16,656	Against
Brighthouse	1,341	Against
Principal	700	Against

35. Shareholder Proposal Regarding Disclosure of Employee Language Proficiency

CORPORATE GOVERNANCE

0% fund support · no official result

AGAINST 93%

The 7 asset managers below cast 0% of the shares they voted on this item FOR (0 for, 1,058,663 against).

AGAINST: 1,058,663 (93.1%)ABSTAIN: 78,460 (6.9%)

Largest asset managers voting on “Shareholder Proposal Regarding Disclosure of Employee Language Proficiency” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	Against	Abstain	Vote
Charles Schwab	940,403	0	Against
SEI	78,901	0	Against
IMPAX FUNDS SERIES TRUST III	0	78,460	Abstain
Hartford	20,662	0	Against
Russell Investments	16,656	0	Against
Brighthouse	1,341	0	Against
Principal	700	0	Against

36. Shareholder Proposal Regarding Forced and Child Labor in Loan Portfolios

HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE

0% fund support · no official result

AGAINST 93%

The 7 asset managers below cast 0% of the shares they voted on this item FOR (0 for, 1,058,663 against).

AGAINST: 1,058,663 (93.1%)ABSTAIN: 78,460 (6.9%)

Largest asset managers voting on “Shareholder Proposal Regarding Forced and Child Labor in Loan Portfolios” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	Against	Abstain	Vote
Charles Schwab	940,403	0	Against
SEI	78,901	0	Against
IMPAX FUNDS SERIES TRUST III	0	78,460	Abstain
Hartford	20,662	0	Against
Russell Investments	16,656	0	Against
Brighthouse	1,341	0	Against
Principal	700	0	Against

37. Shareholder Proposal Regarding Say on Climate

ENVIRONMENT OR CLIMATE

8% fund support · no official result

8%AGAINST 92%

The 7 asset managers below cast 8% of the shares they voted on this item FOR (95,116 for, 1,042,007 against).

FOR: 95,116 (8.4%)AGAINST: 1,042,007 (91.6%)

Largest asset managers voting on “Shareholder Proposal Regarding Say on Climate” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Against	Vote
Charles Schwab	0	940,403	Against
SEI	0	78,901	Against
IMPAX FUNDS SERIES TRUST III	78,460	0	For
Hartford	0	20,662	Against
Russell Investments	16,656	0	For
Brighthouse	0	1,341	Against
Principal	0	700	Against

38. Shareholder proposal No. 1: The text of the shareholder proposals is set out in Section 7 of the Management Proxy Circular.

OTHER SOCIAL ISSUES

0% fund support · no official result

AGAINST 100%

The 5 asset managers below cast 0% of the shares they voted on this item FOR (0 for, 3,053,133 against).

AGAINST: 3,053,133 (100.0%)

Largest asset managers voting on “Shareholder proposal No. 1: The text of the shareholder proposals is set out in Section 7 of the Management Pr” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	Against	Vote
BlackRock	1,627,608	Against
JPMorgan	1,375,369	Against
Jackson National	25,712	Against
MASTER INVESTMENT PORTFOLIO	24,063	Against
CITY NATIONAL ROCHDALE FUNDS	381	Against

39. Shareholder proposal No. 2: The text of the shareholder proposals is set out in Section 7 of the Management Proxy Circular.

ENVIRONMENT OR CLIMATE

45.0% fund support · no official result

FOR 45.0%AGAINST 55.0%

The 5 asset managers below cast 45.0% of the shares they voted on this item FOR (1,375,369 for, 1,677,764 against).

FOR: 1,375,369 (45.0%)AGAINST: 1,677,764 (55.0%)

Largest asset managers voting on “Shareholder proposal No. 2: The text of the shareholder proposals is set out in Section 7 of the Management Pr” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	For	Against	Vote
BlackRock	0	1,627,608	Against
JPMorgan	1,375,369	0	For
Jackson National	0	25,712	Against
MASTER INVESTMENT PORTFOLIO	0	24,063	Against
CITY NATIONAL ROCHDALE FUNDS	0	381	Against

40. Shareholder proposal No. 3: The text of the shareholder proposals is set out in Section 7 of the Management Proxy Circular.

HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE

0% fund support · no official result

AGAINST 100%

The 5 asset managers below cast 0% of the shares they voted on this item FOR (0 for, 3,053,133 against).

AGAINST: 3,053,133 (100.0%)

Largest asset managers voting on “Shareholder proposal No. 3: The text of the shareholder proposals is set out in Section 7 of the Management Pr” at NATIONAL BANK OF CANADA, 2024-2025
Asset manager	Against	Vote
BlackRock	1,627,608	Against
JPMorgan	1,375,369	Against
Jackson National	25,712	Against
MASTER INVESTMENT PORTFOLIO	24,063	Against
CITY NATIONAL ROCHDALE FUNDS	381	Against

Showing the 40 reported items with the widest manager coverage, of 43 in total. View every item.

Largest NATIONAL BANK OF CANADA shareholders voting in 2024-2025

Ranked by the number of NATIONAL BANK OF CANADA shares each manager voted on the most widely held ballot item of the 2024-2025 meeting.

Top NATIONAL BANK OF CANADA shareholders by shares voted, 2024-2025
#	Asset manager	Shares voted
1	BlackRock	18,152,291
2	1832 Asset Management L.P.	6,554,058
3	Fiera Capital Corp	3,916,430
4	JARISLOWSKY, FRASER Ltd	2,893,786
5	SCOTIA CAPITAL INC.	1,723,343
6	JPMorgan	1,375,369
7	Cardinal Capital Management, Inc.	808,655
8	Northern Trust	396,845
9	National Bank Financial Inc.	172,626
10	Korea Investment CORP	161,139

Shown as share counts, not percentages: no shares-outstanding figure has been matched to NATIONAL BANK OF CANADA for the 2024-2025 season, so there is no denominator to divide by.

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered investment companies and institutional managers disclose how they voted every proxy, and Form 8-K Item 5.07, in which the company reports its own meeting results. This page is a static snapshot rebuilt weekly on 02 October 2026; a live search always shows the current data.

At NATIONAL BANK OF CANADA's shareholder meeting held 2025-04-24, in the 2024-2025 proxy season, 157 asset managers reported how they voted in their SEC Form N-PX filings, covering 4,241 separate fund positions. Their filings are grouped here into 43 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. No official Form 8-K vote tally has been matched to this meeting, so this page states no certified outcome for its most widely held ballot item. On that item — Advisory resolution to accept the approach taken by the Bank's Board of Directors with respect… — the reporting funds cast 99.7% of the shares they voted in favour (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side). That is the aggregate of those managers' own N-PX disclosures, not the company's certified result, and the funds are a subset of all shareholders.

NATIONAL BANK OF CANADA proxy season coverage: 2023-2024 · 2024-2025 (this page) · 2025-2026.