Nationwide B.S. - Board Changes

Nationwide Building Society

30 September 2025

Nationwide Building Society (Nationwide),Virgin Money UK PLC (Virgin Money) and Clydesdale Bank PLC (Clydesdale Bank) Board Changes

Nationwide Building Society announces that, further to the announcement made on 23 May 2025 regarding its intention to align the membership of the Virgin Money and Clydesdale Bank boards with that of Nationwide, and to create a simpler, more efficient governance structure the Boards of Virgin Money and Clydesdale Bank will be reconstituted with their memberships drawn exclusively from the Nationwide Board.  Effective 30 September 2025, the composition of the Virgin Money and Clydesdale Bank Boards are as follows:

·    Kevin Parry - Non-Executive Director, Chairman and Chair of the Governance and Nomination Committee

·    Tracey Graham - Senior Independent Director Chair of the Remuneration Committee

·    Phil Rivett - Non-Executive Director and Chair of the Audit Committee

·    Alan Keir - Non-Executive Director and Chair of the Risk Committee

·    Debbie Klein - Non-Executive Director

·    Tamara Rajah - Non-Executive Director

·    Gillian Riley - Non-Executive Director

·    Sally Orton - Non-Executive Director

·    Anand Aithal - Non-Executive Director

·    Debbie Crosbie - Executive Director

·    Muir Mathieson - Executive Director and Chief Financial Officer

In addition, Chris Rhodes, who remains CEO of Virgin Money and continues on the Boards of Virgin Money and Clydesdale Bank will be appointed to the Board of Nationwide as an executive director. Tracey Graham also remains a Non-Executive Director of Virgin Money and Clydesdale Bank. David Bennett will continue as a Non-Executive Director of Nationwide, Virgin Money and Clydesdale Bank until 31 December 2025, after which he will step down from all roles. Albert Hitchcock will leave the Nationwide Board effective 30 September 2025.

Kevin Parry OBE, Chairman, said: "The Board changes signify an important step in the bringing together of the Nationwide and Virgin Money businesses enabling the streamlining of decision making and governance across the combined Group. I should like to thank the retiring directors for their stewardship of the banks in the period of our ownership. I would also like to thank Albert for his valuable contribution to the Nationwide Board over a time of significant change."

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About Nationwide

Nationwide is the world's largest building society, with over 16 million members. Following its acquisition of Virgin Money UK PLC, Nationwide is connected with one in three people in the UK and is the second largest provider of mortgages and retail deposits. It is also a major provider of credit cards, personal loans and business banking. Customers can choose to manage their finances in a branch, via mobile app, the internet, telephone, and post. Nationwide has around 25,000 employees and its head office is in Swindon, UK.

As a financial services provider owned by its members, not shareholders, Nationwide's purpose is: Banking - but fairer, more rewarding, and for the good of society. For more information see https://www.nationwide.co.uk/about-us/.