2020 Economic Outlook

Personal & Commercial Banking - Canadian Banking Strategic Priorities - Building A Digitally-Enabled Relationship Bank TM Transform How We Serve Our Clients Accelerate Client Growth Rapidly Deliver Digital Solutions Innovate to Become a More Agile and Efficient Bank ■ Make it easier for clients to access products and services digitally ■ Create capacity and capability to focus on advice, complex servicing and sales, and problem resolution ■ Focus on innovating our branch network ■ Grow commercial market share through industry-specific credit strategies Target high-growth retirement segment and business succession planning ■ Continue to increase client acquisitions including key segments: high net worth, newcomers and students and young adults while deepening existing client relationships ■ Continue to deliver leading digital capabilities and functionality through our award-winning mobile app ■ Create partnerships to innovate, making it easier to bank with RBC ■ Invest in research and development to understand and meet rapidly changing client expectations ■ Accelerate investments to simplify, digitize and automate for clients and employees Change or eliminate products and processes that do not add economic or client value ■ Invest in employees to enhance digital, agile and change capabilities Recent Awards RETAIL BANKER INTERNATIONAL North American Retail Bank of the year for the 2nd consecutive year (1) and Best Loyalty Rewards Strategy (1) THE INTERNATIONAL BUSINESS AWARDS Silver Stevie Award for Innovation of the Year for RBC Rewards (2) ANCIAL SERVICE Ipsos 2019 Customer Excelence CSI EXCELLENCE For the second year in a row, RBC is an award winner for all 11 Ipsos Financial Service Excellence Awards among the Big 5 Banks, including Customer Service Excellence (3) CELENT MODEL BANK Celent Model Bank 2019 Award for API Strategy and in 2018, RBC won the Personal Financial Experience and Employee Productivity categories (4) (1) Retail Banker International, 2019. (2) The International Business Awards, 2019. (3) Ipsos, 2019. (4) Celent Model Bank, 2018/2019. 11 BUSINESS SEGMENTS RBC

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