Early Redemption of Bank of Butterfield - $75 Million 5.25% Fixed -to -Floating Rate Subordinated Notes due 1 June 2028

Hamilton, Bermuda: 2 June 2023 - The Bank of N.T. Butterfield & Son Limited (the "Bank") has advised the Bermuda Stock Exchange (the "Exchange") of the early redemption of the Bank's BSX listed $75 Million 5.25% Fixed - to - Floating Rate Subordinated Notes due 1 June 2028 (the Notes).

The Exchange has therefore de-listed the Notes pursuant to the provisions of the BSX Listing Regulations, Section I, Chapter 2, Regulation 2.33. The de-listing from the Exchange is effective today Friday, 2 June 2023.

Contact: Mr. A. Shaun Morris

General Counsel and Group Legal Officer

Bank of N.T. Butterfield & Son Limited. Tel: 441 295 1111

Fax: 441 295 5951

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