RBC Business Segments Overview

Capital Markets Maintaining our leadership position in Canada RBC ■ Focus on long-term client relationships and leverage our strong cross-border capabilities Improve collaboration with Wealth Management to further develop client relationships and drive operational efficiencies Expanding and strengthening client relationships in the U.S. ■ Build on our momentum and leverage broader relationships and client investments to expand origination, advisory, and distribution ■ Increase focus on deepening relationships with existing clients to drive cross-sell Building on core strengths and capabilities in UK/Europe and Asia ■ Grow prudently by developing strong client relationships and selectively adding talent to expand our capabilities ■ Continue to expand distribution capabilities in Hong Kong and selectively grow investment banking in Sydney ■ Optimizing capital use to earn high risk-adjusted returns on assets and equity Maintain mix between investment banking and lending revenue and trading revenue ■ Maintain disciplined diligence on the risks and costs of our business Recent awards / Rankings 11th largest by global investment bank fees (Thomson Reuters, 2014) ■ Global #1 Trusted Investment Bank and #2 for Expertise and Skills (The Economist, 2014) ■ Best Investment Bank in Canada across Equity, Debt and M&A for 7th consecutive year (Euromoney, 2014) ■ Best Global Issuer, Covered Bonds (Global Capital - The Cover, 2014) ■ Canadian Fixed Income Sales & Trading Quality Leader, Canadian Fixed Income Market Share Leader (Greenwich Associates, 2014) ■ Leading Canadian Equities platform - ranked #1 in 2014 for Overall Trading Quality and #1 for Sales Quality (Greenwich Associates, 2014) Top Equity Research franchise in Canada - ranked #1 for five consecutive years (Brendan Wood International, 2014) ■ Best Bank for Fixed Income Research and Strategy (Technical Analyst Awards, 2014) Investor Relations 18

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