Key Highlights

● NatWest repurchased 2,823,507 ordinary shares between September 22 and 25, 2026 at about 685.04 pence per share.

● Purchases were executed across the London Stock Exchange, CHIX, and BATE trading venues under an active programme.

● The buyback programme began February 16, 2026, and NatWest intends to cancel all shares it repurchases.

● The filing does not disclose total spending, cumulative shares bought since February, or the programme's overall authorized size.

NatWest Group plc (NYSE:NWG) disclosed in a Form 6-K filed September 25, 2026 that it repurchased 2,823,507 ordinary shares between September 22 and 25, 2026, at a volume-weighted average price of approximately 685.04 pence per share. The purchases were executed across the London Stock Exchange, CHIX and BATE trading venues as part of a share buyback programme the UK bank launched on February 16, 2026.

A Routine Disclosure Under UK Rules

This 6-K is the type of periodic transaction report that UK-listed companies conducting on-market share Buybacks are required to file, both with the UK's Financial Conduct Authority and, for NatWest's dual-listed ordinary shares, with the SEC. The filing opens by stating the company "announces that, over the past week, it has purchased the following number of ordinary shares" as part of its ongoing programme, then details the volumes and prices by trading venue and date. This is disclosure of a mechanical share-repurchase transaction, not a new corporate strategy announcement.

The Trading Venues Used

NatWest split its purchases across three venues: the London Stock Exchange, the CHIX platform, and BATE, each showing separate volume-weighted average prices for the individual trading days covered by the report. Executing across multiple venues rather than a single exchange is a common technique for buyback programmes seeking to access Liquidity across Europe's fragmented Equity trading landscape while still meeting UK Listing Rules requirements around timely disclosure of the purchases.

What Happens to the Repurchased Shares

NatWest stated in the filing that it "intends to cancel the repurchased Ordinary Shares," the standard outcome for shares bought back under this type of programme. Canceling repurchased shares reduces the total number of shares outstanding, which is the mechanism by which buyback programmes return Capital to remaining shareholders. The filing does not restate NatWest's total shares outstanding or treasury holdings as of this specific report, though NatWest's periodic 6-K filings under this programme typically track cumulative progress in aggregate over time.

NatWest's Business Context

NatWest Group is one of the United Kingdom's largest banking groups, providing retail, commercial and institutional banking services under brands including NatWest, Royal Bank of Scotland and Ulster Bank. Buyback programmes of the kind disclosed here are a standard capital-management tool used by well-capitalized banks to return excess capital to shareholders, complementing Dividend payments. The filing itself does not discuss NatWest's capital ratios, recent earnings, or the total size or planned duration of the broader buyback programme launched in February.

What the Filing Does Not Say

This 6-K does not disclose the total monetary value spent on the September 22-25 purchases, the cumulative number of shares repurchased under the programme since its February 16, 2026 launch, or the total programme size the bank has authorized. It also contains no management commentary or forward guidance, consistent with its purpose as a mechanical transaction report rather than a strategic announcement, and it does not mention NatWest's dividend policy or capital-return plans beyond the buyback itself.

The Rolling Disclosure Pattern Ahead

NatWest is expected to continue filing similar weekly 6-K updates for as long as the buyback programme remains active, giving investors a rolling view of purchase volumes and prices across the LSE, CHIX and BATE venues. Investors seeking the programme's total authorized size, expected completion date, or cumulative repurchases to date would need to consult NatWest's original announcement of the programme or its periodic financial reports rather than this transaction-level filing.