An anonymous director reports

RBC GLOBAL ASSET MANAGEMENT INC. ANNOUNCES FINAL ANNUAL REINVESTED CAPITAL GAINS DISTRIBUTIONS FOR RBC ETFS AND ETF SERIES OF RBC FUNDS

Royal Bank of Canada's RBC Global Asset Management Inc. has declared the final 2023 annual reinvested capital gains distribution amounts for unitholders of RBC exchange-traded funds and ETF series of RBC funds. The annual capital gains distributions for the RBC ETFs and ETF series of RBC funds generally represent net realized capital gains within the RBC ETFs and ETF series of RBC funds, as applicable, and are typically not paid in cash, but are reinvested in additional units of the respective RBC ETF or ETF series of an RBC fund. The additional units will be immediately consolidated with the previously outstanding units such that the number of outstanding units following the distribution will equal the number of units outstanding prior to the distribution. The reinvested capital gains distributions will increase the unitholder's adjusted cost base for the respective RBC ETF or ETF series of an RBC fund.

Unitholders of record as of Dec. 29, 2023, will receive the 2023 annual reinvested capital gains distribution amounts. The taxable amounts of reinvested and cash distributions for 2023, including the tax characteristics of the distributions, will be reported to brokers (through CDS Clearing and Depository Services Inc.) in early 2024.

The 2023 annual reinvested capital gains distribution amounts per unit for the RBC ETFs are provided in an attached table.

The 2023 annual reinvested capital gains distribution amounts per unit for ETF series of RBC funds are provided in an attached table.

Please note that the annual reinvested capital gains distributions do not include the cash distributions for December, 2023, which are reported separately.

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