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The RBC Direct Investing Fall 2025 Avion Points Offer
Terms and Conditions

The RBC Direct Investing Fall 2025 Avion Points Offer (the "Offer"), is subject to the following terms and conditions:

Only the following individuals are eligible to participate in the Offer. You must –

  1. be a new RBC Direct Investing client. A new client is a client that has not had an RBC Direct Investing Account before the first day of the Offer Period (defined below);
  2. open one or more eligible RBC Direct Investing account(s) (defined below) using a qualifying Offer code between August 18, 2025 and November 28, 2025 inclusive (the “Offer Period”) ; and
  3. be a Canadian resident and at least the age of majority in your province/territory at the time of opening the Eligible Account(s) as defined below.

Under the Offer, you could receive up to 500,000 Avion points (“Avion points”) if you satisfy certain qualifying criteria.
To receive Avion points under this Offer, you must be an Avion Rewards member by January 30, 2026. For more information, please visit https://www.avionrewards.com/eligibility.html and see below.

Qualifying Requirements to Receive Avion points:

  1. Open an Eligible Account during the Offer Period

    • Open one or more Eligible Account(s) during the Offer Period using a qualifying Offer code.

    • Eligible Account(s) include:

      • 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)
      • First Home Savings Account (single account holder) (FHSA)
      • For joint account(s), the primary accountholder must not have had an RBC Direct Investing Account before the first day of the Offer Period.

    • Accounts not eligible for the Offer include:

      • Non-Personal (e.g. Corporate or Trust)
      • Collateral Pledge (single/joint/3rd Party)
      • Locked-in Registered
      • Registered Education Savings Plan (RESP)
      • Retirement Income Fund (RIF)
      • Spousal Registered Retirement Savings Plan (Spousal RRSP)
      • Group Retirement Savings Plan (Group RSP)
      • Life Income Funds (LIF)

  2. Transfer a minimum of C$15,000 into your new RBC Direct Investing Account(s) before the Funding Deadline

    • Transfer or deposit a minimum of C$15,000 (Fifteen Thousand Canadian Dollars), or the equivalent thereof, in cash and/or securities from another financial institution not affiliated with RBC (“Transferred Assets”) into your new Eligible Account(s) by January 30, 2026 inclusive (the “Funding Deadline”).
    • Transfers originating from a financial institution that is affiliated with RBC will not qualify under the Offer. Financial institutions that are affiliated with RBC include: Royal Mutual Funds Inc., RBC Direct Investing Inc., RBC InvestEase Inc., RBC Dominion Securities Inc., RBC Dominion Securities Global Inc., Phillips, Hager & North Investment Funds Ltd., Phillips, Hager & North Investment Services, RBC Phillips, Hager & North Investment Counsel Inc, Royal Trust Corporation of Canada and the Royal Trust Company. Transfers origination from an RBC bank account will qualify as Transferred Assets.
    • The value of Transferred Assets, as well as any withdrawals will be determined in Canadian dollars based on the end of day valuation on the transfer date by RBC Direct Investing in its sole discretion. Foreign currencies will be converted at RBC Direct Investing prescribed rates in effect at transfer date.
    • Multiple transfers may be initiated into your Eligible Account(s) to meet the minimum amount of Transferred Assets required. All transfers received across your Eligible Account(s) before the Funding Deadline will be considered cumulatively. Transfers or deposits received into your Eligible Account(s) after the Funding Deadline will not qualify under the Offer.
    • Options and Securities not listed on a Canadian or U.S marketplace recognized by RBC Direct Investing do not qualify as Transferred Assets under the Offer.

  3. Maintain at least the minimum amount of Transferred Assets in your new RBC Direct Investing Account(s) until June 30, 2026 inclusive

    • You must maintain at least the minimum amount of Transferred Assets required under the Offer (i.e., C$15,000) in your Eligible Account(s) until June 30, 2026 inclusive.
    • If you withdraw, deregister, or transfer out assets from your Eligible Account(s), such amounts will be subtracted from the amount of your Transferred Assets in order to determine your “Net Transferred Assets”.
    • Your Net Transferred Assets will be determined on June 30, 2026, and are calculated as: Transferred Assets received into your Eligible Account(s) on or before the Funding Deadline, less any withdrawals, de-registrations, or transfer-outs from August 18, 2025 until June 30, 2026.
    • Any assets that are deposited or transferred into your Eligible Account(s) after the Funding Deadline do not form part of the Transferred Assets and the value of those assets may be withdrawn without affecting the calculation of your Net Transferred Assets.
    • The calculation of your Net Transferred Assets will be based on the market value of the assets as of the transfer date and determined in Canadian Dollars. Market fluctuations will not impact the calculation of your Net Transferred Assets. For example: If you open two Eligible Accounts, with C$10,000 in Account A and C$47,000 in Account B, and you do not withdraw or transfer out any amounts, on June 30, 2026, your Net Transferred Assets will be C$57,000 and you will be eligible to receive the Avion points.
    • If your Net Transferred Assets drop below the minimum C$15,000 required on or before June 30, 2026, you will not be eligible to receive Avion points.

  4. Receiving the Avion points

    • You must be a member of the Avion Rewards program before the Funding Deadline to receive the Avion points available under this Offer. Avion Rewards members must be part of the Avion Elite or Avion Premium membership level.
    • The number of Avion points you will receive under this Offer will be based on the amount of your Net Transferred Assets, as determined on June 30, 2026.
    • You will receive 1 (one) Avion Point for every 2 (two) Canadian Dollars (or the equivalent thereof) of your Net Transferred Assets, as determined on June 30, 2026.
    • The maximum number of Avion points that you can receive under this Offer is 500,000 Avion points.
    • Your Avion points will be allocated to your Avion points account by August 31, 2026, or to the Avion points account of the primary accountholder of a joint account.
    • If you have an RBC Avion Visa or another Avion points-earning RBC credit card where points are earned on net purchases, your Avion points will be deposited to your respective credit card points account. If you do not have an Avion points-earning credit card, your Avion points will be deposited into your Banking Rewards Account. If you do not have either an RBC credit card where points are earned on net purchases or a Banking Rewards Account, your points will be deposited to the Avion Rewards Core Account. If you have more than one Avion Rewards points account, RBC will determine which account to deposit the points, which could include both joint or solely owned credit card accounts. Once deposited, you may move your points to another account of your choice.

Other Terms that Apply to the Offer:

  • To receive any rewards available under this Offer, you must keep your Eligible Account(s) open, funded and in good standing with RBC Direct Investing for the duration of the Offer. To remain in “Good standing” an Eligible Account may not go into a debit position or into a margin call and must be operated in accordance with the RBC Direct Investing Operation of Account Agreement.
  • If you close or change your Credit Card Account for another type of RBC Royal Bank credit card before the Avion points have been deposited to your account, you may lose the benefit of this Offer. For more information on Avion Rewards membership levels and program eligibility, please visit: https://www.avionrewards.com/eligibility.html.
  • This Offer cannot be combined with any other offer or promotion from RBC Direct Investing or an offer or promotion from Royal Bank of Canada, or one of its affiliates, in which RBC Direct Investing is a participant, except as may be permitted for the Royal Bank of Canada Summer 2025 iPad Offer.
  • RBC Direct Investing and Royal Bank reserve the right to cancel, modify or withdraw this Offer at any time without notice, even after your application has been approved, including if we suspect that you may be manipulating or abusing it, or engaging in any suspicious or fraudulent activity, as determined by RBC Direct Investing and Royal Bank at its sole discretion. Terms and conditions applicable to the Offer are subject to change without notice at the sole and absolute discretion of RBC Direct Investing.
  • RBC Direct Investing general Pricing Terms and Conditions apply. You will be solely responsible for the payment of any applicable fees, penalties, charges or other amounts associated with or connected to the Offer or with the transfer of any assets to an Eligible Account. Visit Pricing or call 1-800-769-2560 for complete details.
  • You are responsible for reviewing the contribution room available in registered plan accounts (e.g., TFSA, FHSA and RRSP) you hold before affecting any transfer into an RBC Direct Investing account. You are solely responsible for any excess contribution penalty or other tax consequence that may arise from the transfer of assets into your RBC Direct Investing account(s). Please consult your personal tax advisor before accepting this Offer.
  • Only the primary accountholder of a joint account may participate in this Offer.
  • You may opt out of the Offer at any time by notifying RBC Direct Investing at 1-800-769-2560.
  • Additional terms and conditions may apply to opening an account with RBC Direct Investing and the transfer-in and operation of accounts at RBC Direct Investing, including without limitation, the requirements set forth in RBC Direct Investing’s Operation of Account Agreement. For complete terms and conditions that apply to the Avion Rewards Program, please visit www.avionrewards.com/terms-and-conditions or call 1-800-769-2512.

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