Mr. Asim Imran reports

ROYAL BANK OF CANADA TO REDEEM NVCC NON-CUMULATIVE FIRST PREFERRED SHARES, SERIES BH AND SERIES BI

Royal Bank of Canada intends, subject to the approval of the Office of the Superintendent of Financial Institutions (OSFI), to redeem all of its issued and outstanding non-viability contingent capital (NVCC) non-cumulative first preferred shares, Series BH, and NVCC non-cumulative first preferred shares, Series BI, on Dec. 8, 2025, for cash at a redemption price of $25 per Series BH share and $25 per Series BI share.

In addition, the bank has also declared a 14-day dividend of 4.6986301 cents per Series BH share and 4.6986301 cents per Series BI share covering the period from Nov. 24, 2025 (the date of the last declared dividend payment), up to but excluding the redemption date of Dec. 8, 2025. The final dividend for the Series BH shares and Series BI shares will be paid to shareholders of record at the close of business on Nov. 10, 2025. This results in a total amount of $25.046986301 per Series BH share and $25.046986301 per Series BI share to be paid on Dec. 8, 2025, upon surrender of the Series BH shares and Series BI shares.

There are six million Series BH shares outstanding, representing $150-million of capital, and six million Series BI shares outstanding, representing $150-million of capital. The redemptions will be financed out of the general corporate funds of Royal Bank.