You’re Pre-Approved¹ for an RRSP Loan at the current RBC Prime Rate of 5.2%²

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Personal lending products are provided by Royal Bank of Canada and are subject to its standard lending criteria.

Financial planning services and investment advice are provided by Royal Mutual Funds Inc. (RMFI). RMFI, RBC Global Asset Management Inc., Royal Bank of Canada, Royal Trust Corporation of Canada and The Royal Trust Company are separate corporate entities which are affiliated. RMFI is licensed as a financial services firm in the province of Quebec.

Using borrowed money to finance the purchase of securities involves greater risk than a purchase using cash resources only. If you borrow money to purchase securities, your responsibility to repay the loan and pay interest as required by its terms remains the same even if the value of the securities purchased declines.

RBC Direct Investing Inc. and Royal Bank of Canada are separate corporate entities which are affiliated. RBC Direct Investing Inc. is a wholly owned subsidiary of Royal Bank of Canada and is a Member of the Canadian Investment Regulatory Organization and the Canadian Investor Protection Fund. Royal Bank of Canada and certain of its issuers are related to RBC Direct Investing Inc. RBC Direct Investing Inc. does not provide investment advice or recommendations regarding the purchase or sale of any securities. Investors are responsible for their own investment decisions. RBC Direct Investing is a business name used by RBC Direct Investing Inc. ® / ™ Trademark(s) of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada. Used under licence. © Royal Bank of Canada 2025

RBC InvestEase is registered as a restricted portfolio manager in all provinces and territories in Canada and provides access to model portfolios consisting of RBC iShares ETFs. Each model portfolio holds up to 100% of RBC iShares ETFs. RBC iShares ETFs are comprised of RBC ETFs managed by RBC Global Asset Management Inc. (RBC GAM) and iShares ETFs managed by BlackRock Canada Limited (BlackRock Canada). RBC GAM and BlackRock Canada entered into a strategic alliance to bring together their respective ETF products under the RBC iShares brand, and to offer a unified distribution support and service model for RBC iShares ETFs.

The services provided by RBC InvestEase are only available in Canada.

This pre-approved offer is exclusive to you based on the credit and financial-related information we have about you as of the date of this communication. We reserve the right to withdraw this offer at any time, without notice. This is a pre-approval for the Registered Retirement Savings Plan loan amount indicated in your communication (the “RRSP Loan”) at an interest rate of 5.2% for a term of one year (12 months). The RRSP Loan at RBC Prime Rate may only be used for a Registered Retirement Savings Plan opened with Royal Bank of Canada. The first loan payment may be deferred for a period of 90 days in order to use any tax refund for repayment. If you defer a payment and your Loan is protected with Loan Protector Insurance, the premium (for the period of the deferred payment) will be collected from your next regular payment. This means less of the next payment will be used to reduce the principal amount of your Loan. If a payment is deferred for a fixed rate loan, interest will continue to accrue and will be collected when the next payment resumes. If a payment is deferred for a variable rate loan, the unpaid accrued interest as well as the interest on the part of the principal that went to payment of the missed Loan Protector premium will be added to the loan principal balance (‘’Combined Amount’’) thus increasing the principal amount outstanding on your loan. Interest, at the interest rate of the loan, is charged on the Combined Amount until it is paid in full. You may repay the deferred payment at any time. The amortization of your loan may be extended to account for deferred payments.

Note: deferring a payment may significantly increase your interest costs over the life of your loan, so it’s important to carefully evaluate your financial situation and priorities before exercising this option.

Your rate is based on RBC Prime Rate + 0% as of January 29, 2025 and is subject to change. "RBC Prime Rate" means the annual rate of interest announced by Royal Bank of Canada from time to time as its reference rate then in effect for determining interest rates on Canadian dollar commercial loans made by the Bank in Canada. RBC Prime Rate is 5.2% as of January 29, 2025 and is subject to change at any time without notice. Financial planning services and investment advice are provided by Royal Mutual Funds Inc. (RMFI).

There are contribution limits on RRSPs, and you must have earned income in prior years to accumulate contribution room. Contribute (per year) the lower of 18% of your earned income from the prior year, the maximum limit for the current tax year, or the remaining limit after any contributions you’ve made to a company-sponsored pension plan. To find out your contribution limit for the current year, check your most recent Notice of Assessment from the CRA.

Interest rates used for examples are for illustration purposes only. Interest rates are subject to change at any time without notice.

Your savings would be offset by future taxes on the withdrawal of this $5,000. Also, the income on the $5,000 would eventually be taxable, but the $88.55 of interest expense is not tax-deductible.

To receive a bonus of $300.00 (“Bonus Offer”) deposited into your Personal Deposit Account you must be a resident of Canada and not have an RBC or RMFI Eligible Account at the time the Qualifying Period begins (an “Eligible Client”). Open an Eligible Account between January 2, 2025, and March 3, 2025 (“Qualifying Period”) and satisfy the Qualifying Criteria and full Terms and Conditions. To satisfy the Bonus Offer Qualifying Criteria you must do one of the following in your Eligible Account: 1) Contribute at least $25,000.00 in Eligible Products; or 2) Set-up a Pre-authorized Contribution (PAC) of $500.00 or more per month in RMFI distributed Mutual Funds with the first contribution occurring by March 31, 2025. You must Maintain the balance and PAC(s) (if the PAC was set up) for the duration of the Promotional Period. This Bonus Offer is available only once per Eligible Client, no matter how many Eligible Accounts you may open during the Qualifying Period. This Bonus Offer cannot be combined with other promotional offers applicable to any RBC or RMFI Investment Account(s) you may have. You are solely liable for any tax consequences associated with the Offer. Please consult your personal tax advisor for more information. This Offer may be amended or withdrawn at any time without notice. View full Terms and Conditions.

Under the RBC InvestEase ‘Winter 2025 Avion Points Plus’ Offer (the “Offer”), you could receive a C$300 Cash Reward (“Cash Reward”) and up to 500,000 Avion points (“Avion points”) if you are eligible to participate and satisfy certain qualifying criteria. To receive Avion points under this offer, you must be an Avion Rewards member by April 3, 2025. See more below.
To be eligible to participate in the Offer. You must –

• be a new RBC InvestEase client. A new client is a client that has not had an RBC InvestEase Account before December 4, 2024;
• open one or more eligible RBC InvestEase account(s) (“Eligible Account(s)”) using the Offer code (WA539) between December 4, 2024 and March 3, 2025, inclusive (the “Offer Period”); and
• be a Canadian resident and at least the age of majority in your province/territory at the time of opening the Eligible Account(s).

To qualify to receive a C$300 Cash Reward and up to 500,000 Avion points under the Offer:

• Transfer or deposit a minimum of C$15,000 (Fifteen Thousand Canadian Dollars) from another financial institution not affiliated with RBC (“Transferred Assets”) into your new Eligible Account(s) by April 3, 2025 inclusive (the “Funding Deadline”) across all Eligible Account(s). Assets originating from an account affiliated with RBC or received in your Eligible Account(s) after April 3, 2025 do not qualify.
• You must maintain at least the minimum amount of Transferred Assets in your Eligible Account(s) from April 3, 2025 until October 3, 2025 inclusive to receive a C$300 Cash Reward and Avion points under the Offer.
• You must be member of the Avion Rewards program before April 3, 2025 to receive Avion points under this Offer. Avion Rewards members must be part of the Avion Elite or Avion Premium membership level. For more information on eligibility visit https://www.avionrewards.com/eligibility.html
• The number of Avion points you will receive under this Offer is based on the Transferred Assets received into your Eligible Account(s), less any withdrawals from any Eligible Account(s) between December 4, 2024 and October 3, 2025 (“Net Transferred Assets”).
• You will receive 1 Avion Point for every 2 Canadian Dollars (or the equivalent thereof) of your Net Transferred Assets, as determined on October 3, 2025. The maximum number of Avion points that you can receive under this offer is 500,000 Avion points.
• The Cash Reward and Avion points will be distributed during November 2025.

This Offer cannot be combined with any other RBC InvestEase offer or promotion, is non-transferrable, and cannot be applied retroactively. Rewards available under the Offer will only be granted to a client once. This Offer may be modified, restricted, withdrawn or extended at any time without notice at the sole discretion of RBC InvestEase and is subject to the full terms and conditions of the Offer.

Under the RBC Direct Investing Winter 2025 Avion Points Plus Offer (the “Offer”), you could receive up to 50 Commission-Free Trades, a C$300 Cash Reward (“Cash Reward”) and up to 500,000 Avion points (“Avion points”) if you are eligible to participate and satisfy certain qualifying criteria. To receive Avion points under this offer, you must be an Avion Rewards member by April 3, 2025. See more below.
To be eligible to participate in the Offer. You must –

• be a new RBC Direct Investing client. A new client is a client that has not had an RBC Direct Investing Account before December 4, 2024;
• open one or more eligible RBC Direct Investing account(s) (“Eligible Account(s)”) using a qualifying Offer code between December 4, 2024 and March 3, 2025, inclusive (the “Offer Period”); and
• be a Canadian resident and at least the age of majority in your province/territory at the time of opening the Eligible Account(s).

To qualify to receive up to 50 Commission-Free Trades under the Offer:

• If you trade Canadian or US exchange-listed securities or options in your new Eligible Account(s) via the RBC Direct Investing online site or the RBC Mobile† app (“Qualifying Trades”), you will receive a rebate of trade commission fees paid on up to 50 Qualifying Trades that are placed within the first year of opening your first Eligible Account.
• The rebate will be deposited into the Eligible Account used to place the trade within 3 to 5 business days after your Qualifying Trade is filled.
• No rebates will apply to trades placed after the first anniversary of your first Eligible Account open date, and any unused rebates under the Offer will expire.
• Simply place Qualifying Trades in your new Eligible Account(s) within the first year of opening your first Eligible Account to receive the Commission-Free trades. There is no minimum funding requirement.

To qualify to receive a C$300 Cash Reward and up to 500,000 Avion points under the Offer:

• Transfer a minimum of C$15,000 cash and/or securities into your new Eligible Account(s) by April 3, 2025 inclusive from another institution not affiliated with RBC (“Transferred Assets”). Multiple transfers may be initiated into your Eligible Account(s) to satisfy the minimum qualifying amount, which will be considered cumulatively across all Eligible Account(s). Assets originating from an account affiliated with RBC or received in your Eligible Account(s) after April 3, 2025 do not qualify.
• You must maintain at least the minimum amount of Transferred Assets in your Eligible Account(s) from April 3, 2025 until October 3, 2025 inclusive to receive a C$300 Cash Reward and Avion points under the Offer.
• You must be member of the Avion Rewards program before April 3, 2025 to receive Avion points under this Offer. Avion Rewards members must be part of the Avion Elite or Avion Premium membership level. For more information on eligibility visit https://www.avionrewards.com/eligibility.html
• The number of Avion points you will receive under this Offer is based on the Transferred Assets received into your Eligible Account(s), less any withdrawals from any Eligible Account(s) between December 4, 2024 and October 3, 2025 (“Net Transferred Assets”).
• You will receive 1 Avion Point for every 2 Canadian Dollars (or the equivalent thereof) of your Net Transferred Assets, as determined on October 3, 2025. The maximum number of Avion points that you can receive under this offer is 500,000 Avion points.
• The Cash Reward and Avion points will be distributed during November 2025.

This Offer cannot be combined with any other RBC Direct Investing offer or promotion, is non-transferrable, and cannot be applied retroactively. Only the primary accountholder of a joint account may participate in this Offer, and Rewards available under the Offer will only be granted to a client once. This Offer may be modified, restricted, withdrawn or extended at any time without notice at the sole discretion of RBC Direct Investing and is subject to the full terms and conditions of the Offer.

The Travel Value of $10,000 is based on an Air Travel Redemption from the Air Travel Redemption Schedule that is only available to Avion Elite Members. Air Travel Reward redemptions from the Air Travel Redemption Schedule start at 15,000 Avion points for a round trip short-haul flight within or to an adjacent province/territory or within or to an adjacent U.S. State with a maximum ticket price of $350. All applicable taxes, service fees and surcharges are the responsibility of the traveler.
All Avion Rewards members with the exception of Personal ION Accounts, Avion Rewards Core Product Accounts and Avion Select members may redeem Points for an RBC Travel Reward at the rate of 100 Points per $1.00 CAD to pay for all or part of your booking, including associated taxes and fees. A minimum of 1,000 Points must be redeemed. A service charge and other conditions may apply.
If you have a Personal ION Account or an Avion Rewards Core Product Account, you may redeem your Points for an RBC Travel Reward at the rate of 100 Points per $0.58 CAD to pay for all or part of your booking, including associated taxes and fees. A minimum of 2,500 Points must be redeemed. A service charge and other conditions may apply. Please refer to the Avion Rewards Terms and Conditions for a list of eligible products and respective travel redemption rates.
Redemption rates vary depending on redemption category. For general redemption terms, conditions and restrictions that apply to the Avion Rewards program, please visit avionrewards.com or call 1-800 ROYAL 1-2 (1-800-769-2512).

RBC Select Balanced Portfolio (the Fund) returns reflect series F, net of fees. Series F units are designed to be held in fee-based accounts. Series F MERs include costs for investment management, operating expenses and taxes and are payable to the fund manager. Investors pay ongoing fees for investment advice and other services directly to their advisor as a separate account fee. “Peer group category average” reflects Global Neutral Balanced1 category average, as reported by Morningstar Inc. Past performance is not a guarantee of future results. It is not possible to directly invest in a Morningstar peer group category. Standard performance data for RBC Select Balanced Portfolio- Series F as of November 29, 2024 is – 1-yr: 19.9%, 3-yr: 5.3%, 5-yr 7.3%, 10yr: 7.0%.

“Eligible Account” means the Royal Bank of Canada Tax Free Savings Account (TFSA), Registered Retirement Savings Plan (RRSP), Registered Education Savings Plan (RESP), or Registered Disability Savings Plan (RDSP) opened by an Eligible Client during the Qualifying Period. All investments in TFSA or RRSP or RESP or RDSP account are subject to standard suitability assessments and the Royal Bank of Canada (RBC) and Royal Mutual Funds Inc. (RMFI) account terms and conditions. If you open multiple Eligible Accounts during the Qualifying Period, all your contributions (net of withdrawals) will be added together to assess your qualification for the offer.

“Eligible Products” means RBC Registered Savings Deposit, RMFI distributed Mutual Funds or RBC Canadian Dollar Guaranteed Investment Certificate (GICs) with terms of 3 years or longer. If you contribute to multiple Eligible Products during the Qualifying Period, all the contributions (net of withdrawals) will be added together to assess the qualification for the Bonus Offer.

“Personal Deposit Account” means any of the following accounts: RBC Day to Day Banking, RBC No Limit Banking, RBC Signature No Limit Banking, RBC VIP Banking; RBC Advantage Banking; RBC Day to Day Savings, RBC Enhanced Savings and RBC High Interest eSavings accounts owned by you. Assets in an RRSP must be Qualified Investments under the Income Tax Act. If the RRSP holds non-Qualified Investments, it could be subject to tax.

All portfolios have been developed by RBC InvestEase Inc. ("RBC InvestEase"). The portfolios include RBC iShares ETFs, with each model portfolio holding up to 100% of RBC iShares ETFs. RBC iShares ETFs are comprised of RBC ETFs managed by RBC Global Asset Management Inc. (RBC GAM) and iShares ETFs managed by BlackRock Canada Limited (BlackRock Canada). RBC GAM and BlackRock Canada have entered into a strategic alliance to bring together their respective ETF products under the RBC iShares ETF brand, and to offer a unified distribution support and service model for RBC iShares ETFs. As such, the RBC iShares ETFs are related or connected issuers of RBC InvestEase.

Trailing returns as of September 30, 2024. The returns and performance information presented here does not reflect actual client portfolio or composite returns. The hypothetical performance information is presented to help illustrate the general performance of the investment strategy while removing variability that results from implementing the strategy at a particular client level. The information presented represents a hypothetical investment in the portfolio from the ‘Inception Date’ to September 30, 2024. The hypothetical performance produced is based on: 1) historical data relevant to the portfolio; 2) assumes daily rebalancing; 3) assumes reinvestment of distributions; 4) accounts for the management expense ratio being charged by the underlying ETFs in the portfolio, 5) excludes any trading and account related costs, and 6) excludes RBC IE 0.50% annual management fee and any applicable sales taxes. For this reason, there is no expectation that the model returns will perfectly replicate the actual performance of any client following the same portfolio strategy. For more information on the range of weighted-average management expense ratios applicable to the ETFs held in RBC IE portfolios, please refer to Pricing at https://www.rbcinvestease.com/. The rates of return indicated for each year in the period are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. The rates of return for periods of less than one year are simple rates of return. Past performance is not indicative of any future returns, and returns are not guaranteed.

Eligible Account(s) under the RBC InvestEase Winter 2025 Avion Points Plus Offer include:

• Tax-Free Savings Account (TFSA) (single account holder)
• Registered Retirement Savings Plan (RRSP) (single account holder)
• First Home Savings Account (FHSA) (single account holder)
• Non-Registered Savings Account (single account holder)

Eligible Accounts under the RBC Direct Investing Winter 2025 Avion Points Plus Offer include:

• Cash (single or joint account holder)
• Margin (single or joint account holder)
• Tax-Free Savings Account (single account holder) (TFSA)
• Registered Retirement Savings Plan (single account holder) (RRSP)
• First Home Savings Account (single account holder) (FHSA)
• For joint account(s), the primary accountholder must not have had an RBC Direct Investing Account before the first day of the Offer Period.

Accounts not eligible for the Offer:

• Non-Personal (e.g. Corporate or Trust)
• Collateral Pledge (single/joint/3rd Party)
• Locked-in Registered
• Registered Education Savings Plans (RESPs)
• Retirement Income Funds (RIFs)
• Spousal Registered Retirement Savings Plan (Spousal RRSPs)
• Group Retirement Savings Plans (RSPs)
• Life Income Funds (LIFs)