An anonymous director reports

ROYAL BANK OF CANADA ANNOUNCES REPORTING SEGMENT REALIGNMENT

Royal Bank of Canada has revised its financial reporting structure to align with management reporting changes in its investor and treasury services (I&TS) reporting segment. Effective Nov. 1, 2022, I&TS's three businesses were reported as follows:

• Investor services will report under the wealth management segment as a stand-alone line of business;
• Treasury services will report under the capital markets segment as part of global markets;
• Transaction banking will report under the capital markets segment as part of corporate and investment banking.

The I&TS businesses that are integrating with capital markets and wealth management for reporting purposes will continue to create value for their respective clients and for Royal Bank of Canada.

This realignment does not impact the previously announced proposed sale of the European and United Kingdom asset servicing activities of Royal Bank of Canada investor services and its associated Malaysian centre of excellence to CACEIS, the asset-servicing banking group of Credit Agricole SA and Santander. The completion of the contemplated transaction will be subject to customary closing conditions, including regulatory and antitrust approvals, and is expected to take place by the end of the third quarter of the 2023 calendar year. Until closing of the transaction, results of the European business will be reported under the wealth management segment.

An abridged version of the supplemental financial information package reflecting the realignment on a retrospective basis is now available at Royal Bank of Canada's website.

About Royal Bank of Canada

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. The bank's success comes from the 95,000-plus employees who leverage their imaginations and insights to bring the bank's vision, values and strategy to life so the bank 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, we have a diversified business model with a focus on innovation and providing exceptional experiences to the bank's 17 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.

We seek Safe Harbor.