Global Overview

About RBC Global Asset Management (RBC GAM)

§§ RBC GAM is the asset management division of Royal Bank of Canada.

§§ The RBC GAM group of companies have more than 1,300 employees worldwide, including 332 investment professionals located across Canada, the U.S., Europe and Asia.

§§ The RBC GAM group of companies manages over US$292 billion in combined assets under management.*

We partner with clients and advisors to meet their needs by sharing innovative insights and building compelling investment solutions.

Innovative investment solutionsWe continuously innovate to expand our investment capabilities and provide solutions that help clients achieve their objectives.

Specialized investment teams focused on investment excellence Supported by the strength, stability and resources of a large financial institution, our specialized investment teams are able to focus on managing portfolios independently, according to their established investment philosophies.

Integrated risk managementWe take a multi-dimensional approach to managing risk for clients, embedding layers of risk controls in portfolio management and throughout the organization.

Commitment to exceptional client serviceWe are dedicated to earning the right to be our clients’ trusted partner. We achieve this by anticipating and meeting our clients’ needs through a deep understanding of their objectives and offering insightful thought leadership.

RBC Global Asset Management

31.2% Canadian fixed income

16.3% Global fixed income (ex-U.S., Can.)

16.6% Canadian equities

14.5% Cash & short term

9.5% U.S. equities

4.1% EAFE equities

3.8% U.S. fixed income

2.5% Alternatives

1.5% EM equities

51% Institutional investors 49% Individual investors

US$292 Billion in assets under management*By asset class

By client type

Overlay assets of approximately US$ 5.97 billion have been excluded from the above data.

ABOUT ROYAL BANK OF CANADA(RBC)§§ In its “World’s 50 Safest Banks 2016” ratings, Global Finance Magazine named RBC one of the Safest Banks in North America.1

§§ 5th largest bank in North America and 11th largest in the world based on market capitalization.

§§ Credit rating among the highest of financial institutions globally§– AA- by S&P§– Aa3 by Moody’s

Sources: Global Finance, Bloomberg, RBC Global Asset Management

* December 31, 2016.1 As of September 2016, https://www.gfmag.com/media/press-releases/The-Worlds-50-Safest-Banks-2016.2 The availability of these strategies may vary by jurisdiction.

This document is provided by RBC Global Asset Management (RBC GAM) for informational purposes only. It may not be reproduced, distributed or published without RBC GAM’s prior written consent. This document does not constitute an offer or a solicitation to buy or to sell any security, product or service in any jurisdiction, nor is it intended to provide any advice of any kind. This document is not available for distribution to people in jurisdictions where such distribution would be prohibited.

RBC GAM is the asset management division of Royal Bank of Canada (RBC) which includes the following affiliates around the world, all indirect subsidiaries of RBC: RBC Global Asset Management Inc. (including Phillips, Hager & North Investment Management), RBC Global Asset Management (U.S.) Inc., RBC Alternative Asset Management Inc., RBC Global Asset Management (UK) Limited, RBC Investment Management (Asia) Limited, BlueBay Asset Management LLP, and BlueBay Asset anagement USA LLC.

Past performance is not indicative of future results. All views, opinions and estimates expressed herein are as at the date(s) indicated, are subject to change without notice, and are provided in good faith but without legal responsibility. To the full extent permitted by law, neither RBC GAM nor any affiliate nor any other person accepts liability for direct or consequential loss arising from any use of the information contained herein. Information obtained from third parties is believed to be reliable, but no representation or warranty, expressed or implied, is made by RBC GAM as to its accuracy, completeness or correctness. RBC GAM assumes no responsibility for any errors or omissions.® / TM Trademark(s) of Royal Bank of Canada. Used under licence. © RBC Global Asset Management Inc. 2017. Publication date: (February 2017)

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Global Overview

VANCOUVER

§§ Canadian Equities (GARP)§§ Canadian Fixed Income and Core Plus§§ High Yield Bonds§§ Mortgages §§ Liability-Driven Investing & Overlay§§ Alternatives

MINNEAPOLIS

§§ U.S. Cash Management§§ U.S. Fixed Income

Breadth of investment capabilities2

CHICAGO

§§ U.S. Equities (Growth)

TORONTO

§§ Canadian Equities (Core, Value)§§ Quantitative Equities (Core, Low Vol, Equity

Market Neutral)§§ Global Equities§§ Global Resources & Precious Metals Equities§§ Canadian Fixed Income & Currencies §§ Fixed Income & Equity ETFs

LONDON

§§ Global and EAFE Equities§§ European Equities§§ Emerging Market Equities§§ Investment Grade & Rates§§ Global Leveraged Finance§§ Convertible Bonds §§ Emerging Market Bonds§§ Alternatives

STAMFORD

§§ Global High Yield Bonds§§ U.S. Credit

HONG KONG

§§ Asian Equities

BOSTON

§§ U.S. Equity (Core, Value)