Ms. Emily Burnham reports

RBC CAPITAL MARKETS BECOMES THE FIRST CANADIAN BANK REGISTERED TO TRADE KOREAN WON DIRECTLY IN KOREA'S ONSHORE MARKET

Royal Bank of Canada's RBC Capital Markets has become the first Canadian bank to be granted permission by the Korean Ministry of Economy and Finance to trade Korean won directly in Korea's onshore market as a registered foreign institution. This registration marks a significant milestone for global investors who require efficient, cost-effective access to Korean currency markets, enabling them to execute KRW transactions through a single trusted relationship rather than navigating complex multiinstitution workflows.

"We've long believed that our clients deserve seamless access to every market that matters to them, and Korea's markets present a significant opportunity," said Haider Ali, global head of foreign exchange trading, RBC Capital Markets. "This reflects our strategic commitment to emerging market expansion, with Asia Pacific and KRW capabilities serving as a key pillar of our growth. It's the result of years of co-ordinated global efforts and demonstrates our genuine commitment to making international investing better for our clients."

What this means for clients going forward

Korea's bond market is one of the largest and most actively traded in Asia, yet access to onshore KRW has historically required international investors to work with multiple local intermediaries, adding additional complexity. By securing RFI status, RBC Capital Markets clients can now execute KRW transactions directly onshore, resulting in a more seamless experience and competitive pricing at every step.

This is part of RBC Capital Markets' broader strategic commitment to emerging market FX expansion. As institutional, corporate and commercial investors continue to diversify into Asian fixed-income markets, having a partner which can execute onshore across currencies is increasingly important. RBC's global platform is purpose-built to meet that need -- executing seamlessly across products and regions, with the scale and infrastructure to back it up.

RBC Capital Markets' foreign exchange capabilities

RBC Capital Markets provides institutional, corporate and commercial clients with comprehensive foreign exchange solutions across global markets. Its FX platform combines global market access with specialist advisory, integrated research and digital execution infrastructure -- giving clients a real edge at every stage of execution. From strategic hedging to seamless multicurrency workflows, it delivers tailored solutions that simplify complexity and keep pace with its clients' ambitions.

About Royal Bank of Canada

Royal Bank is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Its success comes from the 101,000-plus employees who leverage their imaginations and insights to bring its vision, values and strategy to life so ithe bank 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, it has a diversified business model with a focus on innovation and providing exceptional experiences to its more than 19 million clients in Canada, the United Staates and 27 other countries.

It is proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities.