An anonymous director reports

RBC ANNOUNCES TARGETED CLOSE DATE FOR PROPOSED ACQUISITION OF HSBC BANK CANADA

Royal Bank of Canada's targeted close date for the proposed acquisition of HSBC Bank Canada will be Thursday, March 28, 2024, subject to the satisfaction of customary closing conditions.

Conversion activities will begin once the transaction closes and will continue until April 1, 2024. HSBC Bank Canada's branches and offices will open for business on Monday, April 1, 2024, as RBC locations.

The bank looks forward to welcoming HSBC Bank Canada employees and adding value to the 780,000 HSBC Bank Canada clients, including through international banking products and innovative digital capabilities, as well as unlocking powerful benefits from RBC Vantage, Avion Rewards, MyAdvisor, RBC PayEdge and access to the largest network of branches and ATMs in Canada.

Over the coming weeks, HSBC Bank Canada clients will receive information from RBC on what they can expect over the course of that weekend, and what, if any, actions are required on their part.

About Royal Bank of Canada

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Its success comes from the 94,000-plus employees who leverage their imaginations and insights to bring the bank's vision, values and strategy to life so RBC 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 17 million clients in Canada, the United States and 27 other countries.

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