RBC Financial Performance Update

RBC Covered Bond Program Globally Active ■ Active program in six different currencies: EUR, CAD, USD, CHF, AUD and GBP - C$63BN currently outstanding Strong Issuer Largest Canadian bank by market capitalization Strong credit ratings ■ Well capitalized and consistent historical profitability ■ Well diversified business mix Canadian Legislative Changes Canadian legislation protects claims of covered bond investors and overrides any other conflicting law related to bankruptcy and insolvency - Extensive regulatory oversight and pool audit requirements Mandatory property value indexation U.S. Market ■ Active U.S. dollar covered bond issuer ■ Several benchmark bonds outstanding ☐ Broad U.S. investor base Issued US$18.7BN across eleven deals since September 2012 Trace eligible 57 APPENDIX RBC

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