Economic Backdrop and Financial Performance Objectives
Caution regarding forward-looking statements
2
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 document, in
other filings with Canadian regulators or the SEC, in reports to shareholders, and in other communications. In addition, our representatives may communicate forward-
looking statements orally to analysts, investors, the media and others. Forward-looking statements in this document include, but are not limited to, statements relating to our
financial performance objectives, vision and strategic goals, the economic, market and regulatory review and outlook for Canadian, U.S. and European economies and the
expected closing of the transaction involving HSBC Bank Canada (HSBC Canada), including plans for the combination of our operations with HSBC Canada and the
financial, operational and capital impacts of the transaction, such as expected synergies, cross-sell opportunities and acquisition and integration costs. The forward-looking
statements contained in this document represent the views of management and are 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, as well as our financial performance objectives,
vision, strategic goals and priorities and anticipated financial performance, and may not be appropriate for other purposes. Forward-looking statements are typically identified
by words such as "believe", "expect", "suggest", "seek", "foresee”, “forecast”, "schedule", "anticipate", "intend", "estimate", "goal", "commit”, “target”, “objective", "plan",
"outlook", "timeline" and "project" and similar expressions of future or conditional verbs such as "will", "may", "might", "should", "could", "can" or "would" or negative or
grammatical variations thereof.
By their very nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, both general and specific in nature,
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, that our financial performance, environmental & social or other objectives, vision and strategic goals will not be achieved, and that our actual results may differ
materially from such predictions, forecasts, projections, expectations or conclusions.
We caution readers not to place undue reliance on our forward-looking 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, but are not limited to: the possibility that the proposed transaction does not close when expected or at all because of the occurrence of any event, change or other
circumstances, the possibility that the anticipated benefits from the proposed transaction, including creating cross-sell opportunities are not realized, the possibility that the
business of RBC and HSBC Canada may not perform as expected or in a manner consistent with historical performance, the ability to promptly and effectively integrate
HSBC Canada, our ability to achieve our capital targets, our ability to cross-sell more products to customers, the possibility that the transaction may be more expensive to
complete than anticipated, including as a result of unexpected factors or events, credit, market, liquidity and funding, insurance, operational, regulatory compliance (which
could lead to us being subject to various legal and regulatory proceedings, the potential outcome of which could include regulatory restrictions, penalties and fines), strategic,
reputation, legal and regulatory environment, competitive, model, systemic risks and other risks discussed in the risk sections of our annual report for the fiscal year ended
October 31, 2023 (the 2023 Annual Report), including business and economic conditions in the geographic regions in which we operate, Canadian housing and household
indebtedness, information technology, cyber and third-party risks, geopolitical uncertainty, environmental and social risk (including climate change), digital disruption and
innovation, privacy and data related risks, regulatory changes, culture and conduct risks, the effects of changes in government fiscal, monetary and other policies, tax risk
and transparency, and our ability to anticipate and successfully manage risks arising from all of the foregoing factors. Additional factors that could cause actual results to
differ materially from the expectations in such forward-looking statements can be found in the risk sections of our 2023 Annual Report and the Risk management section of
our Q1 2024 Report to Shareholders, as may be updated by subsequent quarterly reports.
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, as well as the inherent
uncertainty of forward-looking statements. Material economic assumptions underlying the forward-looking statements contained in this document are set out in the
Economic, market and regulatory review and outlook section and for each business segment under the Strategic priorities and Outlook sections in our 2023 Annual Report
and outlook section of our Q1 2024 Report to Shareholders, as such sections may be updated by subsequent quarterly reports. Assumptions about RBC's and HSBC
Canada's current and expected financial performance, expected closing date of the proposed transaction, expected expense synergies (and timing to achieve), acquisition
and integration costs and future regulatory capital requirements were considered in making the forward-looking statements in this document including the expected capital
impact to RBC. 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 sections of our 2023 Annual Report and the Risk management section of our Q1 2024 Report to
Shareholders, as may be updated by subsequent quarterly reports.
Information contained in or otherwise accessible through the websites mentioned does not form part of this document. All references in this document to websites are
inactive textual references and are for your information only.
RBCView entire presentation