2020 Economic Outlook

The RBC story Diversified business model with leading client franchises Market leader with a focused growth strategy Financial strength underpinned by prudent risk and cost management ■ Well-diversified across businesses, geographies and client segments ■ Able to capitalize on opportunities created by changing market dynamics and economic conditions ■ Wide breadth of products and capabilities to meet our clients' financial needs and build deep, long-term relationships ■ Market leader in Canada and one of the largest financial institutions globally(1) ■ Clear strategy for continued long-term growth in Canada, the U.S. and select global markets ▪ Track record of earnings and dividend growth while maintaining a disciplined approach to risk and cost management ■ Credit ratings amongst the highest globally ☐ Strong capital position and a high-quality liquid balance sheet Long history of innovation and proven ability to adapt to industry trends Innovation is in our DNA Leading corporate citizen ☐ ■ Investments in technology allow us to drive efficiencies and deliver an exceptional client experience ■ Focused on simplifying, digitizing and personalizing our products to make it easier for clients and employees to do business, and to lower costs ■ Our approach to sustainability is central to our business and to our stated purpose, as demonstrated by our commitment to provide $100 billion in sustainable finance by 2025 ■ ■ Recognized for our sustainability practices and progress over the past three years, as shown in our ESG(2) Composite Index score (3) Diversity and inclusion at RBC are core to creating equitable opportunities for all employees to reach their full potential. Our leadership in the advancement of women has earned us recognition, including being named #3 globally in the Refinitiv Diversity & Inclusion Index, ranking over 7,000 listed companies Through RBC Future Launch, we are dedicating $500 million over the next 10 years to help young people gain meaningful employment through work experience, skills development and networking (1) Based on market capitalization as of January 31, 2020. (2) Environmental, Social and Governance. (3) Calculated as the weighted average of RBC's industry percentile ranking from top tier ESG rating agencies. 3 | ABOUT RBC RBC

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