RBC Direct Investing^® ‘Cash Back’ — Terms and Conditions

1. The Offer Period

To qualify, the following conditions must be met:

• You must not have an account with RBC Direct Investing as of the day before the first day of the Offer Period (defined below)
• Open one or more new RBC Direct Investing account (‘Eligible Account(s)’) using a qualifying offer code when opening at least one of your Eligible Accounts between February 2, 2023 and May 3, 2023 inclusive (the “Offer Period”). The account type opened must be a: 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). Locked-in registered, non-personal, RESPs and, RRIFs and RDSP accounts do not qualify for this Cash Back offer;
• Transfer or deposit a minimum of $3,000 CDN cash and/or securities (‘Transferred Assets’) between February 2, 2023 and July 7, 2023 inclusive. Cash and securities received after July 7, 2023 are not eligible for Cash Back;
• Deposits and transfers into or from any RBC Direct Investing accounts are not eligible for Cash Back; and
• Cash back will be paid into your Eligible Account(s) on or about October 13, 2023.

2. Transferred Assets

• Transfer or deposit a minimum of C$3,000 Transferred Assets into your Eligible Account(s) by July 7, 2023 and maintain the Transferred Assets until September 8, 2023. Your Cash Back amount will be determined on September 8, 2023 based on the Transferred Assets in the Eligible Account(s) less any Withdrawals and Transfers Out (‘Withdrawals’) from your Eligible Account(s) between February 2, 2023 and September 8, 2023 (‘Net Transferred Assets’)
• The value of Transferred Assets and any withdrawals will be determined in Canadian dollars based on end of day valuation on the transfer-in date by RBC Direct Investing in its sole discretion. US dollars will be converted at RBC Direct Investing prescribed rates in effect at transfer in date;
• Securities not listed on a marketplace recognized by RBC Direct Investing will not qualify as Transferred Assets;
• Transfers from a pension plan or any type of share purchase or incentive plan offered to RBC employees including but not limited to Royal Employee Savings and Share Ownership Plan (RESSOP), DSSP and RBC pension plans are specifically excluded from this Cash Back offer;

3. Net Transferred Assets

If you withdraw, deregister, or transfer assets from your Eligible Account(s) at any time between February 2, 2023 and September 8, 2023 (the "Qualification Period"), such amounts will be subtracted from the value of your Transferred Assets in order to determine your Net Transferred Assets. If such withdrawals, de-registrations, or transfers during the Qualification Period reduce the amount of your Transferred Assets below $3,000, no award will be granted. Any assets that are deposited or transferred into your Eligible Account(s) after July 7, 2023 do not form part of the Transferred Assets and the value of those assets may be withdrawn without affecting the valuation of the Transferred Assets.

Market fluctuations will not impact the value of Transferred Assets.

Cash Back

The Cash Back award will be paid in Canadian dollars to Eligible Accounts(s) on or about October 13, 2023.

Where your Transferred Assets are deposited or transferred to a single Eligible Account, the Cash Back will be deposited into that account.

Where you open multiple Eligible Accounts, the total Net Transferred Assets will be calculated by combining the value of the Net Transferred Assets in all your Eligible Accounts. The Cash Back award will be divided and deposited to each Eligible Account in proportion to the value of the Net Transferred Assets in each account. You will only be eligible to claim a single Cash Back award under the terms of this Offer.

For example:

If you open two Eligible Accounts, with $3,000 CDN in Account A and $47,000 CDN in Account B in Net Transferred Assets at the end of the Qualification Period on September 8, 2023, your Cash Back amount will be a total of $400 CDN based on the cumulative value of $50,000 CDN in the two accounts as per the Net Transferred Assets and Cash Back amounts tabled below. Out of $400 cashback, $24 CDN will be deposited to Account A (3,000/50,000 * 100 = 6% of Cash Back amount), and $376 CDN will be deposited to Account B (47,000/50,000 * 100 = 94% of Cash Back amount) on or about October 13, 2023.

The maximum total Cash Back award per client is $5,000 CDN.

The Cash Back amount is based on Net Transferred Assets in your Eligible Account(s) as of September 8, 2023 and will be calculated in accordance with the following table.

Cash Back Calculation Table:

Cash Back Calculation Table:

Net Transferred Assets (C$)	Cash Back (C$)
3,000-49,999	300
50,000-99,999	400
100,000-249,999	500
250,000-499,999	700
500,000-999,999	1,000
1,000,000-1,999,999	2,000
2,000,000	5,000

4. Other Terms

To receive Cash Back, you must keep your Eligible Account(s) open, funded and in good standing with RBC Direct Investing until October 13, 2023. “Good standing” requires that the Eligible Account must not go into a debit position or into a margin call. Debit positions on margin accounts are acceptable.

• The Cash Back is non-transferable, and cannot be combined with any other RBC Direct Investing offer or promotion;
• In the event that you cease to qualify for the Cash Back, RBC Direct Investing reserves the right not to pay the Cash Back;
• Terms and conditions applicable to the Cash Back are subject to change without notice at the sole and absolute discretion of RBC Direct Investing;
• You will be solely responsible for the payment of any applicable fees, penalties, charges or other amounts associated with or connected to the Cash Back or with the transfer of any assets to Eligible Account;
• There may be tax implications associated with the Cash Back award. For registered plans, the Cash Back award is paid directly to the plan and is not considered a contribution. You will be solely responsible for any tax consequences associated with the Cash Back and/or the transfer of any assets into the Eligible Account(s). Please consult your personal tax advisor for more information.
• You may opt out of the Offer at any time by notifying RBC Direct Investing at 1-800-769-2560;