#1RBC Royal Bank of Canada Scotia Capital Financial Summit September 15, 2010 Caution regarding forward-looking statements RBC From time to time, we make written or oral forward-looking statements within the meaning of certain securities laws, including the "safe harbour" provisions of the United States Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. We may make forward-looking statements in this 2010 Investor Presentation, in other filings with Canadian regulators or the SEC, in reports to shareholders and in other communications. Forward-looking statements in this presentation include, but are not limited to, statements relating to our vision, strategic goals and growth opportunities. The forward-looking information contained in this presentation is presented for the purpose of assisting the holders of our securities and financial analysts in understanding our financial position and results of operations as at and for the periods ended on the dates presented and our vision and strategic goals, and may not be appropriate for other purposes. Forward- looking statements are typically identified by words such as "believe", "expect", "foresee", "forecast", "anticipate", "intend", "estimate", "goal", "plan" and "project" and similar expressions of future or conditional verbs such as "will", "may", "should", "could" or "would". By their very nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, which give rise to the possibility that our predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that our assumptions may not be correct and that our vision and strategic goals will not be achieved. We caution readers not to place undue reliance on these statements as a number of risk factors could cause our actual results to differ materially from the expectations expressed in such forward- looking statements. These factors many of which are beyond our control and the effects of which can be difficult to predict - include: credit, market, operational and liquidity and funding risks, and other risks discussed in the Risk, capital and liquidity management section and in our 2009 Annual Report to Shareholders; general business, economic and financial market conditions in Canada, the United States and certain other countries in which we conduct business, including the effects of the European sovereign debt crisis; changes in accounting standards, policies and estimates, including changes in our estimates of provisions, allowances and valuations; the effects of changes in government fiscal, monetary and other policies; the effects of competition in the markets in which we operate; the impact of changes in laws and regulations, including tax laws, changes to and new interpretations of risk-based capital guidelines, and reporting instructions and liquidity regulatory guidance, and the Dodd-Frank Wall Street Reform and Consumer Protection Act; judicial or regulatory judgments and legal proceedings; the accuracy and completeness of information concerning our clients and counterparties; our ability to successfully execute our strategies and to complete and integrate strategic acquisitions and joint ventures successfully; and development and integration of our distribution networks. We caution that the foregoing list of risk factors is not exhaustive and other factors could also adversely affect our results. When relying on our forward-looking statements to make decisions with respect to us, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Except as required by law, we do not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by us or on our behalf. Additional information about these and other factors can be found in the Risk, capital and liquidity management section of our Q3 2010 Report to Shareholders and in our 2009 Annual Report to Shareholders. Information contained in or otherwise accessible through the websites mentioned does not form part of this presentation. All references in this presentation to websites are inactive textual references and are for your information only. RBC INVESTOR PRESENTATION 2 1#2Who we are - Universal bank with financial strength Universal bank in Canada with selective focus globally Active in all banking areas in Canada with leading market positions Global capabilities in capital markets and wealth management Diversified model with the right mix of businesses and geographies - - - Able to generate significant returns throughout the economic cycle Long-term strategic balance • 75% retail banking, wealth management and insurance businesses • 25% capital markets businesses 2/3 Canada and 3 other geographies Continuing to invest in our businesses while focusing on cost management Senior debt ratings amongst the highest globally: RBC Moody's: S&P: Aaa(1) AA-(2) RBC INVESTOR PRESENTATION - DBRS: AA - Fitch: AA Managing our company for long-term success (1) Negative outlook (2) Positive Diversified business with core strength in Canada Revenue by Geography Five Year Average (2005-2009) 22% Revenue by Business Segment (1) Five Year Average (2005-2009) 16% 16% 65% 39% 13% 20% 9% Canada ■U.S. Other International ■Canadian Banking Wealth Management Insurance International Banking Capital Markets RBC INVESTOR PRESENTATION RBC (1) Excludes Corporate Support 2#3Third Quarter 2010 review Revenue by segment (1) ($ millions) Revenue $ 6.8 B Net income $ 1.3 B Int'l Banking $564 Capital Markets $954 Insurance Return on Equity 14.3 % $1,759 Tier 1 capital ratio 12.9 % Wealth Mgmt $1,044 Strong retail results underpinned third quarter earnings RBC INVESTOR PRESENTATION RBC Canadian Banking $2,628 (1) Excludes Corporate Support Canadian Banking - Clear leader and widening the gap RBC ✓ Best Banking Award recipient for "Branch Service" and "Financial Advice" (Synovate, 2010) ✓ #1 rating for Canadian bank public website (Forrester, 2010) ✓ RBC Direct Investing ranked #1 service provider - discount brokerage (Dalbar, 2010) ✓ Recipient of "Creditor of the Year Award" (Credit Counseling Canada, 2010) Q3/10 (1) Q3/09 (1) Rank Market Share Rank Market Share Consumer Lending (2) 1 21.1% 1 20.8% Leadership in most personal products Personal core deposits 2 20.0% 2 18.5% Personal Investments (3) 1 15.9% 1 17.0% Business loans (4) Leadership $0 - $250M in business $250M $5MM products Business deposits & investments 1 26.3% 1 26.5% 1 26.6% 1 26.9% 1 22.4% 1 22.5% (1) (2) Market share is calculated using most current data available from Bank of Canada (BOC), Investment Funds Institute of Canada (IFIC) and Canadian Bankers Association (CBA). BoC and IFIC data is at June 2010 and CBA data is at March 2010. Market share is of total Chartered Banks unless otherwise noted. Consumer Lending comprises residential mortgages, personal loans and credit cards. (3) Personal Investments comprises GICs and mutual funds. Mutual fund market share is per IFIC. (4) Market share is of the nine Chartered Banks that submit Business Loan tiered data to CBA on a quarterly basis. RBC INVESTOR PRESENTATION 3#4Wealth Management - Seizing opportunities for growth Top performing Canadian asset manager focused on global growth • Largest Canadian retail mutual fund company with over $100B AUM and 15% market share (1) • Track record of industry leading performance ✓ PH&N voted Best Overall Fund Group and Best Bond Fund Family (Lipper, 2010) In 2009, RBC captured 31% of the industry net sales of long-term funds • Leading Canadian institutional asset manager with growing presence in the U.S. market through recent mandate wins • Actively considering acquisition opportunities outside Canada Largest and most comprehensive full-service wealth manager in Canada • Largest full-service brokerage in Canada with 23% of assets and 15% of advisors (2) • Market leader in estate and trusts with 27% share of industry revenue (2) Strong and growing position in U.S. Wealth Management • 6th largest U.S. full-service retail brokerage firm with almost 2,300 financial consultants • Translating recent growth into bottom-line profitability Leader in International Wealth Management • Top 20 global private bank and 2009 Award winner for "Outstanding Private Banking - North America" (3) • Ranked #1 Best private banking services overall - Canada, Caribbean and Jersey (Euromoney, 2010) • Pursuing acquisition opportunities that have synergies with existing business model RBC INVESTOR PRESENTATION (1) IFIC July. 2010 (2) Investor Economics (3) Private Banker International Capital Markets - Leveraging our Canadian franchise ✓ Best Investment Bank in Canada for 3rd consecutive year (Euromoney) ✓ Best Bank for Fixed Income e-Trading and Non-Core Currency Bonds (Credit Magazine's 2010 European Credit Awards) ✓ Joint bookrunner and hedge manager on largest ever U.K. Gilt offering, and the largest ever European government bond to date Rankings Rank Value ($ millions) # of deals Market Share Canadian corporate debt (1) 1 12,945 56 29.8% Canadian all debt (excl. self funded) (2) 1 19,814 64 25.8% Canadian equity and equity-related (excl. structured products) (3) 1 5,796 56 17.3% U.S. M&A (4) 19 11,232 28 2.9% 3233 (1) Bloomberg: January 2010 July 2010 (2) Thomson Reuters: January 2010 June 2010 (3) (4) FPInformart: November 2009 - July 2010 Bloomberg: January 2010 June 2010, in US$. Ranking up from #51 with a market share of 0.1% during the same period of 2009 RBC INVESTOR PRESENTATION RBC RBC 8 4#5Where we are going Our Goals Vision Always earning the right to be our clients' first choice RBC In Canada, to be the undisputed leader in financial services In the U.S., to be a leading provider of capital markets, wealth management and banking services by building on and leveraging our considerable capabilities Outside North America, to be a premier provider of select capital markets, wealth management and banking services in markets of choice RBC INVESTOR PRESENTATION Investor Relations Contacts RBC Josie Merenda, VP & Head, Investor Relations Bill Anderson, Director, Investor Relations Karen McCarthy, Director, Investor Relations 416.955.7803 [email protected] 416.955.7804 [email protected] 416.955.7809 [email protected] www.rbc.com/investorrelations 10 RBC INVESTOR PRESENTATION LO