Royal Bank of Canada

Owns50 of 57

• BlueBay Emerging Market Absolute Return Bond Fund - CAD Hedged

  Held through a subsidiaryCanada

• BlueBay Global High Yield Bond Fund - CAD Hedged

  Held through a subsidiaryCanada

• BlueBay Investment Grade Absolute Return Bond Fund - CAD Hedged

  Held through a subsidiaryCanada

• CFG Market Activities LP

  Held through a subsidiaryCanada

• City National Bank

  Held through a subsidiaryUnited States

• JJD FARMS LTD.

  Direct subsidiaryCanada

• Phillips, Hager & North Community Values Balanced Fund

  Held through a subsidiaryCanada

• Phillips, Hager & North Community Values Canadian Equity Fund

  Held through a subsidiaryCanada

• Phillips, Hager & North Community Values Global Equity Fund

  Held through a subsidiaryCanada

• Phillips, Hager & North Overseas Equity Pension Trust

  Held through a subsidiaryCanada

• RBC Alternative Assets, L.P.

  Direct subsidiaryUnited States

• RBC Bank, (Georgia) National Association

  Held through a subsidiaryUnited States

• RBC (BARBADOS) TRADING BANK CORPORATION

  Held through a subsidiaryBarbados

• RBC Canadian Bond Index ETF

  Held through a subsidiaryCanada

• RBC Canadian Equity Index ETF

  Held through a subsidiaryCanada

• RBC Canadian Short Term Bond Index ETF

  Held through a subsidiaryCanada

• RBC CAPITAL MARKETS (JAPAN) LTD.

  Direct subsidiaryBarbados

• RBC Capital Markets, LLC

  Held through a subsidiaryUnited States

• RBC CMA LTD.

  Direct subsidiaryBritish Virgin Islands

• RBC COVERED BOND GUARANTOR LIMITED PARTNERSHIP

  Direct subsidiaryCanada

• RBC Direct Investing Inc.

  Direct subsidiaryCanada

• RBC Dominion Securities Global Limited

  Held through a subsidiaryBahamas

• RBC DOMINION SECURITIES INC.

  Direct subsidiaryCanada

• RBC Energy Services L.P.

  Direct subsidiaryCanada

• RBC EUROPE LIMITED

  Direct subsidiaryUnited Kingdom

• RBC Funds (Lux) - U.S. Mid-Cap Value Equity Fund

  Held through a subsidiaryLuxembourg

• RBC FUNDS TRUST - RBC Small Cap Growth Fund

  Held through a subsidiaryUnited States

• RBC GLOBAL ASSET MANAGEMENT (ASIA) LIMITED

  Held through a subsidiaryHong Kong SAR China

• RBC Global Asset Management (U.S.) Inc.

  Held through a subsidiaryUnited States

• RBC Hedge Fund Porfolio CAD Hedged

  Held through a subsidiaryCanada

• RBC Holdings (Asia) Limited

  Held through a subsidiaryHong Kong SAR China

• RBC INSURANCE COMPANY (CAYMAN) LIMITED

  Direct subsidiaryCayman Islands

• RBC Insurance Services Inc.

  Direct subsidiaryCanada

• RBC International Equity (CAD Hedged) Index ETF

  Held through a subsidiaryCanada

• RBC International Equity Index ETF

  Held through a subsidiaryCanada

• RBC Investment Management (Caribbean) Limited

  Held through a subsidiaryTrinidad & Tobago

• RBC Investor Services Holding (Hong Kong) Limited

  Direct subsidiaryHong Kong SAR China

• RBC INVESTOR SERVICES MALAYSIA SDN. BHD.

  Direct subsidiaryMalaysia

• RBC INVESTOR SERVICES TRUST SINGAPORE LIMITED

  Direct subsidiarySingapore

• RBC MUNICIPAL CAPITAL, LLC

  Held through a subsidiaryUnited States

• RBC MUNICIPAL PRODUCTS, LLC

  Direct subsidiaryUnited States

• RBC Private Counsel (USA) Inc.

  Held through a subsidiaryCanada

• RBC QUBE Market Neutral U.S. Equity Fund

  Held through a subsidiaryCanada

• RBC ROYAL BANK (TRINIDAD AND TOBAGO) LIMITED

  Held through a subsidiaryTrinidad & Tobago

• RBC Trade Asia Limited

  Direct subsidiaryHong Kong SAR China

• RBC Trust (Trinidad & Tobago) Limited

  Held through a subsidiaryTrinidad & Tobago

• RBC U.S. Equity (CAD Hedged) Index ETF

  Held through a subsidiaryCanada

• RBC U.S. Equity Index ETF

  Held through a subsidiaryCanada

• RESTORATION DESIGN INC.

  Direct subsidiaryCanada

• ROYAL BANK HOLDING INC.

  Direct subsidiaryCanada

Why no parent is reported

No direct parent reportedNo ultimate parent reported

No parent prepares consolidated accounts including it