An anonymous director reports

RBC GLOBAL ASSET MANAGEMENT INC. ANNOUNCES CHANGE TO THE INVESTMENT STRATEGIES AND MANAGEMENT FEE REDUCTION FOR RBC QUANT EMERGING MARKETS DIVIDEND LEADERS ETF

Royal Bank of Canada's RBC Global Asset Management Inc. has made a change to the investment strategies and a management fee reduction for RBC Quant Emerging Markets Dividend Leaders ETF.

Effective today, the investment strategies of the ETF have been changed to allow it to invest up to 100 per cent of its assets in one or more emerging markets exchange-traded funds. The change has been made to position the ETF to better accommodate any potential large redemptions in light of the ETF's upcoming termination on Sept. 12, 2025, which was announced on June 3, 2025, while still maintaining exposure to emerging markets equities.

In connection with the change to the investment strategies of the ETF, effective today, the management fee for the ETF has been reduced, as outlined in an attached table.

About Royal Bank of Canada

Royal Bank is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. The bank's success comes from the greater than 97,000 employees who leverage their imaginations and insights to bring its vision, values and strategy to life so it can help its clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, Royal Bank has a diversified business model with a focus on innovation and providing exceptional experiences to its more than 19 million clients in Canada, the United States and 27 other countries.

The bank is proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities.