2011 and Fourth Quarter Results

Risk Review Morten Friis Chief Risk Officer Specific provision for credit losses (PCL) Specific PCL of $235 million ($ millions) Specific PCL Ratio (1) RBC RBC 282 275 241 Q4/10 235 222 0.40% 0.35% 0.38% 0.31% 0.31% 0.41% 1.96% (0.31)% Q1/11 Q2/11 Q3/11 0.36% 0.36% 0.35% 0.53% 0.61% 1.82% (0.37)% (0.06)% Q4/11 0.30% 1.46% 0.10% 0.04% 287 257 247 254 222 Q4/10 Q1/11 Q2/11 Q3/11 Q4/11 Capital Markets International Banking ■Canadian Banking Corporate Support Specific PCL Ratio • Canadian Banking PCL decreased $32 million or 13% QoQ, largely due to lower provisions in our commercial lending portfolio as asset quality continued to improve. • International Banking PCL of $31 million was down $6 million or 16% QoQ, largely reflecting lower provisions in our Caribbean commercial portfolio. Capital Markets PCL of $4 million was down from $8 million in the prior quarter. RBC 2011 AND FOURTH QUARTER RESULTS (1) Specific PCL Ratio: specific PCL as a percentage of average net loans and acceptances (annualized). 10

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