File: Attachment 06221952-00000001-00035105-121924_-_RBC_GAM_-_Estimated_December_2024_Cash_Distributions_nr-PDF.pdf

RBC Global Asset Management Inc. announces estimated December 2024 cash distributions for RBC ETFs and ETF Series of RBC Funds

TORONTO, Dec. 19, 2024 -- RBC Global Asset Management Inc. ("RBC GAM Inc.") today announced estimated December 2024 cash distributions for unitholders of RBC ETFs and ETF Series of RBC Funds.

Please note that these are estimated amounts only, as of December 13, 2024. The estimates could change if the RBC ETFs or ETF Series of RBC Funds, as applicable, experience subscriptions or redemptions prior to the ex-dividend date or for other unforeseen factors.

RBC GAM Inc. expects to announce final December 2024 monthly cash distributions for RBC ETFs and ETF Series of RBC Funds on or about December 30, 2024. Unitholders of record on December 30, 2024, will receive distributions payable on January 6, 2025.

The actual taxable amounts of cash and reinvested distributions for 2024, including the tax characteristics of the distributions, will be reported to brokers (through CDS Clearing and Depository Services Inc.) in early 2025.

The estimated December 2024 cash distribution amounts per unit for the RBC ETFs are as follows:

FUND NAME FUND ESTIMATED CASH TICKER DISTRIBUTION PER RBC 1-5 Year Laddered Canadian Bond ETF RBC 1-5 Year Laddered Canadian Corporate Bond ETF RLB UNIT RBC Target 2025 Canadian Government Bond ETF RBO $0.050 RBC Target 2026 Canadian Government Bond ETF RGQN $0.070 RBC Target 2027 Canadian Government Bond ETF RGQO $0.035 RBC Target 2028 Canadian Government Bond ETF RGQP $0.040 RBC Target 2029 Canadian Government Bond ETF RGQQ $0.035 RBC Target 2030 Canadian Government Bond ETF RGQR $0.045 RBC Target 2025 Canadian Corporate Bond Index ETF RGQS $0.055 RBC Target 2026 Canadian Corporate Bond Index ETF RQN $0.020 RBC Target 2027 Canadian Corporate Bond Index ETF RQO $0.060 RBC Target 2028 Canadian Corporate Bond Index ETF RQP $0.040 RBC Target 2029 Canadian Corporate Bond Index ETF RQQ $0.050 RBC Target 2030 Canadian Corporate Bond Index ETF RQR $0.070 RBC Target 2025 U.S. Corporate Bond ETF RQS $0.080 RBC Target 2025 U.S. Corporate Bond ETF (USD Units)* RUQN $0.062 RBC Target 2026 U.S. Corporate Bond ETF RUQN.U $0.045 RBC Target 2026 U.S. Corporate Bond ETF (USD Units)* RUQO $0.032 RBC Target 2027 U.S. Corporate Bond ETF RUQO.U $0.040 RUQP $0.028 $0.045

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RBC Target 2027 U.S. Corporate Bond ETF (USD Units)* RUQP.U $0.032

RBC Target 2028 U.S. Corporate Bond ETF RUQQ $0.055

RBC Target 2028 U.S. Corporate Bond ETF (USD Units)* RUQQ.U $0.039

RBC Target 2029 U.S. Corporate Bond ETF RUQR $0.060

RBC Target 2029 U.S. Corporate Bond ETF (USD Units)* RUQR.U $0.042

RBC Target 2030 U.S. Corporate Bond ETF RUQS $0.040

RBC Target 2030 U.S. Corporate Bond ETF (USD Units)* RUQS.U $0.028

RBC Canadian Discount Bond ETF RCDB $0.030

RBC PH&N Short Term Canadian Bond ETF RPSB $0.060

RBC U.S. Discount Bond ETF RUDB $0.020

RBC U.S. Discount Bond ETF (USD Units)* RUDB.U $0.014

RBC U.S. Discount Bond (CAD Hedged) ETF RDBH $0.020

RBC Short Term U.S. Corporate Bond ETF RUSB $0.085

RBC Short Term U.S. Corporate Bond ETF (USD Units)* RUSB.U $0.060

RBC Canadian Preferred Share ETF RPF $0.095

RBC Quant Canadian Dividend Leaders ETF RCD $0.090

RBC Canadian Dividend Covered Call ETF RCDC $0.115

RBC Canadian Bank Yield Index ETF RBNK $0.100

RBC Quant U.S. Dividend Leaders ETF RUD $0.023

RBC Quant U.S. Dividend Leaders ETF (USD Units)* RUD.U $0.016

RBC Quant U.S. Dividend Leaders (CAD Hedged) ETF RUDH $0.025

RBC U.S. Dividend Covered Call ETF RUDC $0.101

RBC U.S. Dividend Covered Call ETF (USD Units)* RUDC.U $0.071

RBC U.S. Banks Yield Index ETF RUBY $0.060

RBC U.S. Banks Yield Index ETF (USD Units)* RUBY.U $0.042

RBC U.S. Banks Yield (CAD Hedged) Index ETF RUBH $0.075

RBC Quant European Dividend Leaders ETF RPD $0.070

RBC Quant European Dividend Leaders ETF (USD Units)* RPD.U $0.049

RBC Quant European Dividend Leaders (CAD Hedged) ETF RPDH $0.080

RBC Quant EAFE Dividend Leaders ETF RID $0.070

RBC Quant EAFE Dividend Leaders ETF (USD Units)* RID.U $0.049

RBC Quant EAFE Dividend Leaders (CAD Hedged) ETF RIDH $0.080

RBC Quant Emerging Markets Dividend Leaders ETF RXD $0.050

RBC Quant Emerging Markets Dividend Leaders ETF (USD

Units)* RXD.U $0.035

* Cash distribution per unit ($) amounts are USD for RUQN.U, RUQO.U, RUQP.U, RUQQ.U, RUQR.U, RUQS.U, RUDB.U,

RUSB.U, RUD.U, RUDC.U, RUBY.U, RPD.U, RID.U, and RXD.U

The estimated December 2024 cash distribution amounts per unit for ETF Series of RBC Funds are as follows:

FUND NAME FUND ESTIMATED CASH TICKER DISTRIBUTION PER RBC Conservative Bond Pool ETF Series RBC Core Bond Pool ETF Series RCNS UNIT RBC Core Plus Bond Pool ETF Series RCOR $0.150 RPLS $0.160 $0.185

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RBC Canadian Equity Income Fund ETF Series RCEI $0.062 RBC North American Value Fund ETF Series RNAV $0.408 RBC North American Growth Fund ETF Series RNAG $0.244 RBC U.S. Mid-Cap Growth Equity Fund ETF Series RUMG $0.000 RBC Life Science and Technology Fund ETF Series RLST $0.000 RBC International Equity Fund ETF Series RINT $0.260 RBC Emerging Markets Dividend Fund ETF Series REMD $0.049 RBC Global Energy Fund ETF Series RENG $0.534 RBC Global Precious Metals Fund ETF Series RGPM $0.000 RBC Global Technology Fund ETF Series RTEC $0.000

Please note that the above estimated cash distributions do not include the annual reinvested capital gains distributions for 2024, which are reported separately.

For further information regarding RBC ETFs and ETF Series of RBC Funds, please visit www.rbcgam.com/etfsolutions.

Forward-looking information: This notice contains forward-looking statements within the meaning of certain securities laws. Forward-looking statements in this notice include statements with respect to the December 2024 cash distributions for the RBC ETFs and ETF Series of RBC Funds. By their nature, these forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, which give rise to the possibility that the actual cash distributions will differ materially from the estimated cash distributions set forth in this notice. Factors that could cause the actual cash distributions to differ from the estimated cash distributions include, but are not limited to: the actual amounts of distributions received by the RBC ETFs and ETF Series of RBC Funds; the actual amounts of capital gains generated from sales of securities; trading activity within the RBC ETFs and ETF Series of RBC Funds, including buying and selling of securities; and subscription and redemption activity.

Distribution estimates do not denote the yield a client may receive. All values are expressed in Canadian dollars, unless otherwise indicated. Totals may not sum due to rounding. The December 2024 cash distribution estimates are provided by RBC GAM Inc. and are for information purposes only. They do not reflect final attributions for tax purposes. For more information, please speak with your investment advisor.

Commissions, management fees and expenses all may be associated with investments in mutual funds and exchange-traded funds ("ETFs"). Please read the applicable prospectus or ETF Facts document before investing. Mutual funds and ETFs are not guaranteed, their values change frequently and past performance may not be repeated. ETF units are bought and sold at market price on a stock exchange and ETF Series is a class of securities offered by a mutual fund that are bought and sold at market price on a stock exchange. Brokerage commissions will reduce returns. RBC ETFs do not seek to return any predetermined amount at maturity. Index returns do not represent RBC ETF returns. RBC ETFs and RBC Funds are managed by RBC GAM Inc., a member of the RBC GAM group of companies and an indirect wholly-owned subsidiary of Royal Bank of Canada.

RBC Target 2025 Canadian Government Bond ETF, RBC Target 2026 Canadian Government Bond ETF, RBC Target 2027 Canadian Government Bond ETF, RBC Target 2028 Canadian Government Bond ETF, RBC Target 2029 Canadian Government Bond ETF and RBC Target 2030 Canadian Government Bond ETF (collectively, the "Canadian TMGB ETFs"), RBC Target 2025 Canadian Corporate Bond Index ETF, RBC Target 2026 Canadian Corporate Bond Index ETF, RBC Target 2027 Canadian Corporate Bond Index ETF, RBC Target 2028 Canadian Corporate Bond Index ETF,

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RBC Target 2029 Canadian Corporate Bond Index ETF and RBC Target 2030 Canadian Corporate Bond Index ETF (collectively, the "Canadian TMCB ETFs"), and RBC Target 2025 U.S. Corporate Bond ETF, RBC Target 2026 U.S. Corporate Bond ETF, RBC Target 2027 U.S. Corporate Bond ETF, RBC Target 2028 U.S. Corporate Bond ETF, RBC Target 2029 U.S. Corporate Bond ETF and RBC Target 2030 U.S. Corporate Bond ETF (collectively, the "U.S. TMCB ETFs"), do not seek to deliver a predetermined amount at maturity, and the amount an investor receives may be more or less than their original investment.

The Canadian TMCB ETFs have been developed solely by RBC GAM Inc., and are not in any way connected to or sponsored, endorsed, sold or promoted by the London Stock Exchange Group plc and its group undertakings (collectively, the "LSE Group"). All rights in the FTSE Canada 2025 Maturity Corporate Bond Index, FTSE Canada 2026 Maturity Corporate Bond Index, FTSE Canada 2027 Maturity Corporate Bond Index, FTSE Canada 2028 Maturity Corporate Bond Index, FTSE Canada 2029 Maturity Corporate Bond Index and FTSE Canada 2030 Maturity Corporate Bond Index (collectively, the "FTSE Maturity Corporate Bond Indices") vest in the relevant LSE Group company which owns the FTSE Maturity Corporate Bond Indices. "FTSEtrademark" is a trade mark of the relevant LSE Group company and is used by any other LSE Group company under license.

The FTSE Maturity Corporate Bond Indices are calculated by or on behalf of FTSE Global Debt Capital Markets Inc. or its affiliate, agent or partner. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the FTSE Maturity Corporate Bond Indices or (b) investment in or operation of the Canadian TMCB ETFs. The LSE Group makes no claim, prediction, warranty or representation either as to the results to be obtained from the Canadian TMCB ETFs or the suitability of the FTSE Maturity Corporate Bond Indices for the purpose to which they are being put by RBC GAM Inc.

RBC Canadian Bank Yield Index ETF, RBC U.S. Banks Yield Index ETF, and RBC U.S. Banks Yield (CAD Hedged) Index ETF have been developed solely by RBC GAM Inc. and are not sponsored, promoted, sold or supported by Solactive AG ("Solactive"). Solactive Canada Bank Yield Index, Solactive U.S. Bank Yield NTR Index and Solactive U.S. Bank Yield NTR (CAD Hedged) Index are calculated and published by Solactive. Solactive does not offer any express or implicit guarantee or assurance regarding the results to be obtained from the use of the index or index price nor does Solactive make any representation regarding the advisability of investing in the ETFs.

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About RBC Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 98,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 18 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.

We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/peopleandplanet.

About RBC Global Asset Management RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC). RBC GAM is a provider of global investment management services and solutions to institutional, high-net-worth and individual investors through separate accounts, pooled funds, mutual funds, hedge funds, exchange-traded funds and specialty investment strategies. RBC Funds, BlueBay Funds, PH&N Funds and RBC ETFs are offered by RBC Global Asset Management Inc. (RBC GAM Inc.) and distributed through authorized dealers in Canada. The RBC GAM group of companies, which includes RBC GAM Inc. (including PH&N Institutional) and RBC Indigo Asset Management Inc., manage approximately $680 billion in assets and have approximately 1,600 employees located across Canada, the United States, Europe and Asia.

For more information, please contact: Brandon Dorey, RBC GAM Corporate Communications, 647-262-6307