[1] Aintree had made a number of safety changes in the months leading up to the race, following the deaths of two horses in the previous year's National.

The changes included reducing the severity of some of the fences, raising the minimum age of participating horses from six to seven years old, and requiring all runners to have previously been placed in a recognised steeplechase of at least three miles.

Synchronised, the 2012 Cheltenham Gold Cup winner and an early favourite for the National, and According to Pete both were euthanised after suffering leg fractures during the race.

A review conducted by the racecourse authorities, and the British Horseracing Authority, in consultation with the Royal Society for the Prevention of Cruelty to Animals and World Horse Welfare, recommended the following amendments to the course:[2][3] Other recommendations were made to improve the safety of race participants, including:[4] Entries for the race had to be submitted by 31 January 2012.

Other trainers returning to the race included Kim Bailey, who had success with Mr. Frisk in the 1990 National, with ten-year-old Midnight Haze;[6] Gordon Elliott, who trained the 2007 winner Silver Birch, with the grey Chicago Grey;[7] and Ted Walsh, responsible for Papillon's victory in 2000 (his son Ruby took that ride), with Seabass who was ridden by his daughter Katie in her first Grand National.

Paul Carberry took the ride of Chicago Grey and Ballabriggs defended his title under the jockeyship once again of Jason Maguire, while Timmy Murphy was a sixth and final jockey aiming for another National win, having ridden Comply or Die in 2008.

[9] * Ruby Walsh was due to ride On His Own but was stood down after suffering a concussion in a fall during the Aintree Hurdle before the Grand National.

As the field charged down toward the first fence, Giles Cross and Becauseicouldntsee were amongst the early leaders, and Viking Blond became the race's first faller.

The fifth fence claimed three runners: State of Play unseated his rider Noel Fehily and Chicago Grey and Rare Bob were brought down.

Fehily suffered a broken leg and a screen was soon erected around him as he was treated by medics, while course officials prepared for the fence to be bypassed on the second circuit.

[12] Outsider Alfa Beat was a faller at the Foinavon fence after Becher's, and the next obstacle, the Canal Turn, saw five runners exit the race.

Quiscover Fontaine from the mid-division fell at the 17th, Deep Purple was pulled up after the 18th, and 80/1 shot Vic Venturi refused to jump the 19th.

On His Own was fifth going towards Becher's Brook for the second time, but he fell at the fence, bringing down According to Pete, who was also struck by the passing Weird Al.

Over the second Canal Turn, Cappa Bleu and 100/1-rated In Compliance started emerging towards the front of the field, still led by Planet of Sound and Shakalakaboomboom.

On the 494-yard run-in to home, Shakalakaboomboom, Ballabriggs and In Compliance began to lose ground and the trio of Sunnyhillboy from Seabass and Neptune Collonges charged into a tight race for the win.

One hundred yards from the finishing post, Sunnyhillboy held a one-length lead over his nearest rival, Neptune Collonges, but the 33/1 grey caught up and at the line nothing separated the pair to the naked eye.

Jockeys, trainers, viewers and spectators waited for one-and-a-half minutes to hear the judge's official announcement over the Tannoy that Neptune Collonges had snatched victory by a nose.

Neptune Collonges' jockey Daryl Jacob dedicated the win to his friend and former colleague Kieran Kelly who died in a fall in 2003, adding: "I will treasure this day for the rest of my life.

My family was split about running here, my wife was 50/50 about coming here and my daughter Lisa is showjumping in south Wales although I think she might have jumped off when she hears what has happened!

"[14] Following the deaths of Synchronised and According to Pete, and the bypassing of the 21st fence while medics treated jockey Noel Fehily's broken leg, much of the media attention again focused on the safety of horses and riders in the steeplechase.

[15] Aintree Racecourse released a statement in which managing director Julian Thick said: "We are desperately sad at these two accidents and our sympathies are with the connections of both horses.

The key data from these accidents will be collated... the BHA and Aintree review all incidents which occur during the Grand National meeting and consider what measures can be taken to address the risk of a repeat in the future.

"[17] Roly Owers, chief executive of World Horse Welfare, said : "Over the coming days, it will be important to establish the facts.

Winning trainer Nicholls, who also lost Ornais in a fatal fall in the 2011 Grand National, told the BBC that "no stone is left unturned" in the attempt to minimise the risk to participants in the race.

This was the 53rd consecutive year the BBC has televised the Grand National and the last time before Channel 4 took over broadcasting rights for a four-year period from 2013.

The television commentary team consisted of Ian Bartlett, Darren Owen, and Jim McGrath who called the winner home for the 15th time.

[22][23] The British Horseracing Authority conducted its usual review of the Grand National in the weeks following the 2012 race, and it found that the deaths of Synchronised and According to Pete could have been neither "foreseen nor prevented".