Mr. Sean Amato-Gauci reports

ROYAL BANK OF CANADA ANNOUNCES A $70 MILLION COMMITMENT TO EMPOWER CANADA'S NEXT GENERATION OF ENTREPRENEURS

Royal Bank of Canada (RBC) plans to make a commitment of more than $70-million to renew and expand its collaboration with Futurpreneur, a national non-profit that provides entrepreneurs ages 18 to 39 with the financing, mentorship and resources to help them launch, buy and grow businesses across Canada. This commitment will empower the next generation of business owners to help strengthen Canada's economic future while advancing two of RBC's core ambitions: helping Canadians prepare and adapt for the changing world of work and helping more people meet their essential needs.

The $70-million-plus commitment is a combination of philanthropy, business loans and operating capital to support Futurpreneur's proven offering for the next generation of entrepreneurs, particularly those under 30 and young indigenous founders.

This expanded support comes at a critical time for young people in Canada and for the economy.

With persistently high youth unemployment and dwindling entry-level jobs, more young people are turning to entrepreneurship as a pathway to meaningful work and economic opportunity. The timing is critical: 76 per cent of business owners in Canada plan to retire over the next decade, while this country now has approximately 100,000 fewer entrepreneurs than it did in 2000 despite significant population growth.

To create jobs and drive economic growth, Canada needs a new generation of entrepreneurs to start or buy businesses.

Significant boost for thousands of new business owners

Announced today alongside Minister Rechie Valdez, Secretary of State for Small Business and Tourism, the commitment will help accelerate the 30-year collaboration between RBC and Futurpreneur by establishing or expanding upon three integrated programs:

• Under 30 (U30) start-up program: With RBC support, including access to collateral-free loans, Futurpreneur will help founders under 30 turn ideas into action, bolstering its broader national start-up programs for entrepreneurs ages 18 to 39.
• Indigenous entrepreneur start-up Program: With culturally grounded workshops led by a dedicated all-indigenous team, mentorship from experienced leaders and up to $75,000 in collateral-free loans, this program is designed to reduce capital barriers and provide tailored advice for indigenous entrepreneurs ages 18 to 39.
• RBC Rock My Business workshops: These workshops will include financial literacy, business ideation and planning, peer mentorship for young entrepreneurs, and 10 annual start-up awards of $5,000 each.

Together, these programs are designed to help provide two of the fastest-growing groups of business founders in Canada -- entrepreneurs under 30 and young indigenous entrepreneurs -- with the knowledge, skills, mentorship and capital required to have the best chance of long-term business success. They strengthen RBC's commitment to helping Canadians prepare for the future of work and advancing reconciliation by driving inclusive economic growth in collaboration with RBC Origins.

"Canada's future depends on a new generation of young entrepreneurs building and growing their businesses right here at home. Through this collaboration with Futurpreneur, we're providing the financing, mentorship and practical support they need to succeed -- because the founders we back today will be the leaders who carry Canada forward for years to come," said Sean Amato-Gauci, Group Head, RBC Commercial Banking.

30 years of collaboration for new businesses

Founded in 1996 with the early leadership and support of partners including RBC, Futurpreneur has helped more than 21,000 young entrepreneurs start, buy and grow businesses in every province and territory, creating jobs, strengthening communities and contributing to Canada's economic future. Futurpreneur's support helped kick-start many beloved Canadian brands, including Knix, Mejuri, SmartSweets, Chickapea, Property Guys and SkiptheDishes.

"For three decades, RBC has been an unwavering champion of the young entrepreneurs we've supported across Canada, helping them turn ambition into action and ideas into businesses that create jobs and strengthen communities. Today, when Canada needs more made-in-Canada businesses, we are deeply grateful for RBC's enduring commitment to the next generation of founders, particularly entrepreneurs under 30 and young indigenous entrepreneurs, who are poised to be our country's most active business creators as long as they have the resources they need to succeed. RBC's $70-million commitment sends an important signal that Canada's largest company is committed to supporting our smallest businesses and the young founders who are helping drive our economy forward," stated Karen Greve Young, chief executive officer of Futurpreneur.

Quick facts:

• Seventy-six per cent of current business owners are planning to exit the market, with an expected 100,000 fewer entrepreneurs compared with the year 2000. This opens an unprecedented opportunity for young entrepreneurs.
• Roughly three in 10 of Gen Z Canadians point to being their own boss (33 per cent) or turning a passion into income (31 per cent) as their primary definition of success.
• Eighty-one per cent of Canadians agree that financial uncertainty acts as a catalyst, motivating more people to explore entrepreneurship as a way to address financial pressures.
• Indigenous entrepreneurs are launching businesses at five times the Canadian rate but face structural barriers to success, including measurable disparities in education, income, health, and access to capital and housing.
• Young and indigenous entrepreneurs are the fastest-growing demographics of new business owners.

About Royal Bank of Canada

Royal Bank of Canada is a global financial institution with a purpose-driven, principle-led approach to delivering leading performance. The bank's success comes from the greater than 105,000 employees who leverage their imaginations and insights to bring RBC'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, RBC 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 Stateas nd 27 other countries.