<ol> <li>RBC Capital Markets, LLC is a wholly-owned subsidiary of, and separate legal entity from, Royal Bank of Canada. Royal Bank of Canada does not guarantee any debts or obligations of RBC Capital Markets, LLC. Credit ratings are not recommendations to purchase, sell or hold a financial position in as much as they do not comment on market price or suitability for a particular investor. Ratings are subject to revision or withdrawal at any time by a rating agency.</li> <li>Ratings (as of August 26, 2026) for senior long-term debt issued prior to September 23, 2018 and senior long-term debt issued on or after September 23, 2018, which is excluded from the Canadian Bank Recapitalization (Bail-in) regime.</li> <li>Ratings (as of August 26, 2026) for senior long term debt issued on or after September 23, 2018 which is subject to conversion under the Bail-in regime.</li> <li>Ratings outlook.</li> </ol>

<p>The 2022 Financial Planning &quot;Top 40 Brokers Under 40&quot; and &quot;Top 40 Regional Brokers Under 40&quot; award was announced February 2022. Data as of 9/30/21. Financial Planning annually ranks the industry&rsquo;s top producers under 40. Nominations were received from advisors and managers and ranked according to production totals. This award does not evaluate the quality of services provided to clients and is not indicative of the advisor&rsquo;s future performance. The financial advisor does not pay a fee to be considered for or to receive this award.</p>

<p>The 2022 Forbes &quot;Best-In-State Wealth Advisors&quot; award was announced April 2022. Data as of 6/30/2021. The award was developed by SHOOK Research and is based on in-person and telephone due diligence meetings to evaluate each advisor qualitatively, a major component of a ranking algorithm that includes: client retention, industry experience, review of compliance records, firm nominations; and quantitative criteria, including: assets under management and revenue generated for their firms. Investment performance is not a criterion because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. Rankings are based on the opinions of SHOOK Research, LLC and not indicative of future performance or representative of any one client&rsquo;s experience. Neither Forbes nor SHOOK Research receive compensation in exchange for placement on the ranking. The financial advisor does not pay a fee to be considered for or to receive this award. This award does not evaluate the quality of services provided to clients. This is not indicative of this financial advisor&rsquo;s future performance. For more information:&nbsp;www.SHOOKresearch.com.</p>

<p>The 2022 &quot;Forbes Top Next-Gen Wealth Advisors &amp; Top Next-Gen Wealth Advisors Best-in-State&quot; award was announced August 2022. Data as of 3/31/2022. SHOOK considered advisors born in 1983 or later with a minimum 4 years as an advisor. Advisors have: built their own practices and lead their teams; joined teams and are viewed as future leadership; or a combination of both. Ranking algorithm is based on qualitative measures: telephone and in-person interviews to measure best practices, client retention, industry experience, credentials, review of compliance records, firm nominations; and quantitative criteria, such as: assets under management and revenue generated for their firms. Investment performance is not a criterion because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. SHOOK&rsquo;s research and rankings provide opinions intended to help investors choose the right financial advisor and are not indicative of future performance or representative of any one client&rsquo;s experience. Past performance is not an indication of future results. Neither Forbes nor SHOOK Research receive compensation in exchange for placement on the ranking. For more information, please see&nbsp;www.SHOOKresearch.com. SHOOK is a registered trademark of SHOOK Research, LLC. The financial advisor does not pay a fee to be considered for or to receive this award. This award does not evaluate the quality of services provided to clients. This is not indicative of this financial advisor&rsquo;s future performance.</p>

<p>The 2023 Forbes Best-in-State Wealth Management Teams award was announced January 2023. Data as of 3/31/22. The award was developed by SHOOK Research and is based on in-person, virtual and telephone due diligence meetings and a ranking algorithm that includes: a measure of each team&rsquo;s best practices, client retention, industry experience, review of compliance records, firm nominations; and quantitative criteria, including: assets under management and revenue generated for their firms. Investment performance is not a criterion because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. SHOOK&rsquo;s research and rankings provide opinions intended to help investors choose the right financial advisor and team, and are not indicative of future performance or representative of any one client&rsquo;s experience. Past performance is not an indication of future results.&nbsp; Neither Forbes nor SHOOK Research receive compensation in exchange for placement on the ranking. The financial advisor does not pay a fee to be considered for or to receive this award. This award does not evaluate the quality of services provided to clients. This is not indicative of this financial advisor&rsquo;s future performance.</p>

<p>The 2023 Forbes &quot;Best-In-State Wealth Advisors&quot; award was announced April 2023. Data as of 6/30/2022. The award was developed by SHOOK Research and is based on in-person and telephone due diligence meetings to evaluate each advisor qualitatively, a major component of a ranking algorithm that includes: client retention, industry experience, review of compliance records, firm nominations; and quantitative criteria, including: assets under management and revenue generated for their firms. Investment performance is not a criterion because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. Rankings are based on the opinions of SHOOK Research, LLC and not indicative of future performance or representative of any one client&rsquo;s experience. Neither Forbes nor SHOOK Research receive compensation in exchange for placement on the ranking. The financial advisor does not pay a fee to be considered for or to receive this award. This award does not evaluate the quality of services provided to clients. This is not indicative of this financial advisor&rsquo;s future performance. For more information: www.SHOOKresearch.com.</p>

<p>The 2023 &quot;Forbes Top Next-Gen Wealth Advisors &amp; Top Next-Gen Wealth Advisors Best-in-State&quot; award was announced August 2023. Data as of 3/31/2023. SHOOK considered advisors born in 1984 or later with a minimum 4 years as an advisor. Advisors have: built their own practices and lead their teams; joined teams and are viewed as future leadership; or a combination of both. Ranking algorithm is based on qualitative measures: telephone and in-person interviews to measure best practices, client retention, industry experience, credentials, review of compliance records, firm nominations; and quantitative criteria, such as: assets under management and revenue generated for their firms. Investment performance is not a criterion because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. SHOOK&rsquo;s research and rankings provide opinions intended to help investors choose the right financial advisor and are not indicative of future performance or representative of any one client&rsquo;s experience. Past performance is not an indication of future results. Neither Forbes nor SHOOK Research receive compensation in exchange for placement on the ranking. For more information, please see&nbsp;www.SHOOKresearch.com. SHOOK is a registered trademark of SHOOK Research, LLC. The financial advisor does not pay a fee to be considered for or to receive this award. This award does not evaluate the quality of services provided to clients. This is not indicative of this financial advisor&rsquo;s future performance.</p>

<p>The 2024 Forbes Best-in-State Wealth Management Teams award was announced January 2024. Data as of 3/31/23. The award was developed by SHOOK Research and is based on in-person, virtual and telephone due diligence meetings and a ranking algorithm that includes: a measure of each team&rsquo;s best practices, client retention, industry experience, review of compliance records, firm nominations; and quantitative criteria, including: assets under management and revenue generated for their firms. Investment performance is not a criterion because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. SHOOK&rsquo;s research and rankings provide opinions intended to help investors choose the right financial advisor and team, and are not indicative of future performance or representative of any one client&rsquo;s experience. Past performance is not an indication of future results.&nbsp; Neither Forbes nor SHOOK Research receive compensation in exchange for placement on the ranking. The financial advisor does not pay a fee to be considered for or to receive this award. This award does not evaluate the quality of services provided to clients. This is not indicative of this financial advisor&rsquo;s future performance.</p>

<p>The 2024 Forbes &quot;Best-In-State Wealth Advisors&quot; award was announced April 2024. Data as of 6/30/2023. The award was developed by SHOOK Research and is based on in-person, virtual and telephone due diligence meetings to evaluate each advisor based on qualitative criteria such as: best practices, client retention, industry experience, credentials, review of compliance records, firm nominations; and quantitative criteria, including assets under management and revenue generated for their firms. Investment performance is not a criterion because client objectives and risk tolerances vary, and advisors rarely have audited performance reports. Rankings are based on the opinions of SHOOK Research, LLC and not indicative of future performance or representative of any one client&rsquo;s experience. Neither Forbes nor SHOOK Research receive compensation in exchange for placement on the ranking. The financial advisor does not pay a fee to be considered for or to receive this award. This award does not evaluate the quality of services provided to clients. This is not indicative of this financial advisor&rsquo;s future performance. For more information: www.SHOOKresearch.com.</p>

<p>The 2024 Forbes &ldquo;America&#39;s Top Next-Gen Wealth Advisors&rdquo; award was announced August 2024. Data as of 3/31/2024. Forbes/SHOOK considered advisors born in 1985 or later with a minimum 4 years&rsquo; experience. Ranking is based on telephone and in-person interviews, professional credentials, advisor&rsquo;s compliance records, firm recognition, and assets under management. Investment performance was not considered, and this ranking is not indicative of future advisor performance or any one client&rsquo;s experience. The financial advisor does not pay a fee to be considered for or to receive this award. This award does not evaluate the quality of services provided to clients. &nbsp;For more information, visit www.SHOOKresearch.com.</p>

<p>The 2024 Forbes &ldquo;America&#39;s Top Next-Gen Wealth Advisors&rdquo; award was announced August 2024. Data as of 3/31/2024. Forbes/SHOOK considered advisors born in 1985 or later with a minimum 4 years&rsquo; experience. Ranking is based on telephone and in-person interviews, professional credentials, advisor&rsquo;s compliance records, firm recognition, and assets under management. Investment performance was not considered, and this ranking is not indicative of future advisor performance or any one client&rsquo;s experience. The financial advisor does not pay a fee to be considered for or to receive this award. This award does not evaluate the quality of services provided to clients.&nbsp; For more information, visit&nbsp;www.SHOOKresearch.com.</p>

<p>The 2025 Forbes &ldquo;Best-In-State Wealth Management Teams&rdquo; award was announced January 2025. Data as of 3/31/24. The award was developed by SHOOK Research and is based on in-person, virtual and telephone due diligence meetings and a ranking algorithm that includes: a measure of each team&rsquo;s best practices, client retention, industry experience, review of compliance records, firm nominations; and quantitative criteria, including assets under management and revenue generated for their firms. Investment performance was not an award criterion. Rankings are based on the opinions of SHOOK Research, LLC and not indicative of future performance or representative of any one client&rsquo;s experience. The financial advisor does not pay a fee to be considered for or to receive this award. This award does not evaluate the quality of services provided to clients. For more information:&nbsp; <a href="http://www.SHOOKresearch.com">www.SHOOKresearch.com</a>.</p>

<p>The 2025 Financial Planning &quot;Top 40 Brokers Under 40&quot; and &quot;Top 40 Regional Brokers Under 40&quot; award was announced February 2025. Data as of 9/30/24. Financial Planning annually ranks the industry&rsquo;s top producers under 40. Nominations were received from advisors and managers and ranked according to production totals. This award does not evaluate the quality of services provided to clients and is not indicative of the advisor&rsquo;s future performance. The financial advisor does not pay a fee to be considered for or to receive this award.</p>

<p>The 2025 Forbes &ldquo;Best-In-State Wealth Advisors&rdquo; award was announced April 2025. Data as of 6/30/2024. The award was developed by SHOOK Research and is based on in-person, virtual and telephone due diligence meetings and a ranking algorithm that includes: a measure of each advisor&rsquo;s best practices, client retention, industry experience, review of compliance records, firm nominations; and quantitative criteria, including assets under management and revenue generated for their firms. Investment performance was not an award criterion. Rankings are based on the opinions of SHOOK Research, LLC and not indicative of future performance or representative of any one client&rsquo;s experience. The financial advisor does not pay a fee to be considered for or to receive this award. This award does not evaluate the quality of services provided to clients. For more information go to:&nbsp;www.SHOOKresearch.com.</p>

<p>The 2025 Forbes &ldquo;Top Next-Gen Wealth Advisors Best-in-State&rdquo; award was announced August 2025. Data as of 3/31/2025. Forbes/SHOOK considered advisors born in 1985 or later with a minimum 4 years&rsquo; experience. Ranking is based on telephone and in-person interviews, professional credentials, advisor&rsquo;s compliance records, firm recognition, and assets under management. Investment performance was not considered; and this ranking is not indicative of future advisor performance or any one client&rsquo;s experience. The financial advisor does not pay a fee to be considered for or to receive this award. This award does not evaluate the quality of services provided to clients.&nbsp;&nbsp; For more information, visit&nbsp;www.SHOOKresearch.com.</p>

<p>The 2025 Forbes &ldquo;America&#39;s Top Next-Gen Wealth Advisors&rdquo; award was announced August 2025. Data as of 3/31/2025. Forbes/SHOOK considered advisors born in 1985 or later with a minimum 4 years&rsquo; experience. Ranking is based on telephone and in-person interviews, professional credentials, advisor&rsquo;s compliance records, firm recognition, and assets under management. Investment performance was not considered, and this ranking is not indicative of future advisor performance or any one client&rsquo;s experience. The financial advisor does not pay a fee to be considered for or to receive this award. This award does not evaluate the quality of services provided to clients.&nbsp; For more information, visit&nbsp;www.SHOOKresearch.com.</p>

<p>The 2026 Forbes &ldquo;Best-In-State Wealth Management Teams&rdquo; award was announced January 2026. Data as of 3/31/25. The award was developed by SHOOK Research and is based on in-person, virtual and telephone due diligence meetings and a ranking algorithm that includes: a measure of each team&rsquo;s best practices, client retention, industry experience, review of compliance records, firm nominations; and quantitative criteria, including assets under management and revenue generated for their firms. Investment performance was not an award criterion. Rankings are based on the opinions of SHOOK Research, LLC and not indicative of future performance or representative of any one client&rsquo;s experience. The financial advisor does not pay a fee to be considered for or to receive this award. This award does not evaluate the quality of services provided to clients. For more information: www.SHOOKresearch.com.&nbsp;</p>

<p>The 2026 Financial Planning &quot;Top 40 Brokers Under 40&quot; and &quot;Top 40 Regional Brokers Under 40&quot; award was announced February 2026. Data as of 9/30/25. Financial Planning annually ranks the industry&rsquo;s top producers under 40. Nominations were received from advisors and managers and ranked according to production totals. This award does not evaluate the quality of services provided to clients and is not indicative of the advisor&rsquo;s future performance. The financial advisor does not pay a fee to be considered for or to receive this award.</p>

<p>The 2026 Forbes &quot;Best-In-State Wealth Advisors&quot; award was announced April 2026. Data as of 6/30/2025. The award is based on in-person, virtual and telephone due diligence meetings and a ranking algorithm that includes advisor&#39;s best practices, client retention, industry experience, compliance records; and quantitative criteria, including assets under management and revenue generated for their firms. Investment performance was not an award criterion. Rankings are based on the opinions of SHOOK Research, LLC and not indicative of future performance or representative of any one client&#39;s experience. The financial advisor does not pay a fee to be considered for or to receive this award. This award does not evaluate the quality of services provided to clients. For more information go to: www.SHOOKresearch.com.</p>

<p>The 2026 Forbes &ldquo;Top Next-Gen Wealth Advisors Best-in-State&rdquo; award was announced August 2026. Data as of 3/31/2026. Forbes/SHOOK considered advisors born in 1987 or later with a minimum 4 years&rsquo; experience. Ranking is based on telephone and in-person interviews, professional credentials, advisor&rsquo;s compliance records, firm recognition, and assets under management. Investment performance was not considered; and this ranking is not indicative of future advisor performance or any one client&rsquo;s experience. The financial advisor does not pay a fee to be considered for or to receive this award. This award does not evaluate the quality of services provided to clients.&nbsp;For more information, visit&nbsp;www.SHOOKresearch.com.&nbsp;</p>