NASSAU (THE BAHAMAS) – MARCH 10, 2021 — Royal Bank of Canada (RY on TSX and NYSE) (“RBC”) today announced the launch of RBC Caribbean Financial Advisory Services (“CFAS”) – a new business line offering expert financial consulting advice to business clients and corporate clients across the Caribbean.

CFAS will offer consultancy services in mergers and acquisitions, financial consulting, and debt and equity financing. These services are designed to meet the needs of Corporate Banking, Business Banking, and Private Banking clients, in addition to governments and public agencies throughout the region.

“With the addition of CFAS, these clients now have access to a one-stop-shop for their financing and advisory needs,” said Darryl White, CEO, RBC Financial (Caribbean) Limited and Regional Vice President, Corporate Banking. “This adds to our already-robust suite of financial solutions and is yet another way we can stand out from our competition. As one of the ten largest banks globally based on market capitalization, RBC is uniquely positioned to leverage the talent and expertise of over 90,000 employees in 36 countries and territories to help businesses and organizations with a variety of critical services essential to their operations and continued growth.”

Two Vice Presidents will oversee RBC’s new CFAS business in the region. Marc Jardine will be responsible for the Southern Caribbean (Trinidad and Tobago, Barbados, and the Dutch Caribbean) and Jerry Butler will be responsible for the Northern Caribbean (The Bahamas, Turks and Caicos Islands, and The Cayman Islands). Jardine is a seasoned corporate banking executive, having held several senior roles in Corporate Finance, Risk Management, Origination, and Financial Analysis.Butler’s professional experience in public accounting, wealth management, and financial services spans more than 30 years across a variety of roles based in New York, Europe, and the Caribbean.

“We believe that this new business is a real opportunity for new and existing Caribbean clients to take full advantage of RBC’s reputation as a world-leader in comprehensive financial and advisory solutions,” said Joe Olivier, Regional Vice President, High Net Worth Clients, Caribbean. “As we expand our Corporate, Business, and Private Banking financial offerings to include this consultative business advice, it grants our clients access to a robust suite of solutions to help them grow, thrive, and prosper.”

RBC was named as Global Finance Magazine’s Best Private Bank in the Caribbean, along with Best Private Bank for Families and Best Private Bank for Entrepreneurs. The bank was also named Latin American and Caribbean Retail Bank of the Year by Retail Banker International.

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About RBC in the Caribbean

With more than 110 years of dedicated service to the region, RBC has a presence in 17 countries and territories, with 52 branches and over 3,200 employees serving nearly one million clients. As one of the Caribbean’s leading diversified financial services companies, RBC provides personal and commercial banking, wealth management, corporate and investment banking, insurance and trust and asset management services to a wide range of clients, including individuals, small businesses, general commercial entities, regional and multi-national corporations and governments. For more information, please visit rbc.com/caribbean.

About RBC

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to

delivering leading performance. Our success comes from the 86,000+ employees who leverage their

imaginations and insights to bring our vision, values and strategy to life so we can help our 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 our 17 million clients in Canada, the U.S. and 34 other countries. Learn more at rbc.com

We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/community-social-impact.