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RBC Direct Investing 2027 Winter Offer

A. Definitions:

“Contribution Deadline” means the date of February 11, 2027, by which the Eligible Client must complete Qualifying Net Contributions to qualify for the Offer.

“Eligible Client(s)” means a personal client who:

  1. Is a resident of Canada and of the age of majority in the province or territory in which they reside as of the date the Eligible Investment Account is opened;
  2. Is a New Investment Client or an Existing Investment Client, as defined below, of RBC Direct Investing Inc. (“RBC Direct Investing”) within the Qualifying Period.
    • A New Investment Client is a person who has not held a personal investment account with RBC Direct Investing (excluding GoSmart) by the first day of the Qualifying Period. A client who has held only a GoSmart account as of this day will still qualify for the Offer as a New Investment Client.
    • An Existing Investment Client is a person who holds a personal investment account with RBC Direct investing before the first day of the Qualifying Period. Existing Investment Clients must register for the Offer (see below for details).

      And

  3. Is an Avion Rewards member by February 11, 2027.

“Eligible Investment Account(s)”

  • The following RBC Direct Investing personal accounts are eligible for the Offer:
    • - Tax Free Savings Account (TFSA), includes Group TFSA where available
    • - Registered Retirement Savings Plan (RRSP), includes Spousal RRSP and Group RRSP, where available
    • - Non-Registered Investment Account
    • - Locked in Retirement Account (LIRA)
    • - Life Income Fund (LIF) Account
    • - Registered Education Savings Plan (RESP)
    • - Registered Retirement Income Fund (RRIF)
    • - First Home Savings Account (FHSA)
    • - Margin Account
  • Eligible Investment Accounts opened with RBC Direct Investing under the Offer must be opened with a valid promotional link online or through the RBC Mobile app.
  • GoSmart accounts offered by RBC Direct Investing are not Eligible Investing Accounts for this Offer.

“Eligible Product(s)” means: For RBC Direct Investing, cash deposits and in-kind or partial transfers of securities listed on a Canadian or US exchange and other investment products eligible for transfer-in to an RBC Direct Investing account.

If you contribute multiple Eligible Products between November 10, 2026 and the Contribution Deadline, all the contributions and/or transfers-in (net of withdrawals and/or transfers-out) will be added together to assess the qualification for the Offer.

“Offer” as defined in Section B of these Terms.

“Offer Payment(s)” means four payments of Avion points that will be made in June 2027, September 2027, December 2027, and March 2028, respectively, provided the Eligible Client continues to meet the Qualifying Criteria at the time of each payment.

“Promotional Period” means the period starting on November 10, 2026, and ending February 11, 2028.

“Qualifying Net Contributions”

i. For New Investment Clients, means the total of all contributions and, transfers-in collectively deposited or transferred-in (in cash or in kind) into the Eligible Investment Accounts net of all withdrawals or transfer-outs between November 10, 2026 and the Contribution Deadline. Transfers-in from a financial institution affiliated with RBC will not qualify under the Offer. Affiliated financial institutions include: Royal Mutual Funds Inc., RBC Direct Investing Inc., RBC InvestEase Inc., RBC Dominion Securities Inc., RBC Dominion Securities Global Inc., Philips, Hager & North Investment Funds Ltd., Philips, Hager & North Investment Services, RBC Philips, Hager & North Investment Counsel Inc., Royal Trust Corporation and the Royal Trust Company. For New Investment Clients only, cash contributions from an RBC personal bank account will be included in the calculation of Qualifying Net Contributions.

ii. For Existing Investment Clients, means the total of all transfers-in to the Eligible Investment Accounts net of all withdrawals or transfer-outs between November 10, 2026 and the Contribution Deadline. Transfers-in from a financial institution affiliated with RBC will not qualify under the Offer. Affiliated financial institutions include: Royal Mutual Funds Inc., RBC Direct Investing Inc., RBC InvestEase Inc., RBC Dominion Securities Inc., RBC Dominion Securities Global Inc., Philips, Hager & North Investment Funds Ltd., Philips, Hager & North Investment Services, RBC Philips, Hager & North Investment Counsel Inc., Royal Trust Corporation and the Royal Trust Company. For Existing Investment Clients, cash contributions from an RBC personal bank account will not be included in the calculation of Qualifying Net Contributions.

Securities not listed on a Canadian or U.S. exchange that are transferred in-kind to an Eligible Investment Account at RBC Direct Investing are not counted towards Qualifying Net Contributions, and do not qualify under this Offer.

For the purposes of calculating Qualifying Net Contributions, any transactions in currencies other than Canadian Dollars will be converted into Canadian dollars based on the end of day valuation on the transaction date, as determined by RBC Direct Investing at our sole discretion.

“Qualifying Period” means the period starting on November 10, 2026, and ending on January 11, 2027. New Investment Clients must open an Eligible Investment Account during the Qualifying Period.

Existing Investment Clients of RBC Direct Investing must register for the Offer by completing the registration form and must initiate the transfer-in to their account(s) from a non-RBC affiliated entity within the Qualifying Period.

“Terms” mean these terms and conditions that govern this Offer.

“we”, “us”, “our” and “RBC Direct Investing” mean RBC Direct Investing Inc.

"you" and “your” mean the Eligible Client.

B. Offer:

Eligible Clients who open one or more Eligible Investment Account(s) or make a transfer-in to one or more existing Eligible Investment Account using the RBC Mobile app or online from November 10, 2026 to the Contribution Deadline and satisfy the Qualifying Criteria (as defined below), and these Terms will receive 1 Avion point for every $2 of Qualifying Net Contributions up to a maximum of 500,000 Avion points deposited into their Avion Rewards Account in four Offer Payments.

See examples below:

Offer Examples Table
Example 1 Example 2
Scenario: A New Investment Client funds two new eligible accounts with $4,000 and $2,000 Scenario: An Existing Investment Client makes a transfer-in of $5,000
Total Contribution: $6,000 Total Contribution: $5,000
Avion Points Offered: 3,000 points paid in four quarterly payments Avion Points Offered: 2,500 points paid in four quarterly payments
Points Paid Per Quarter: 750 Points Paid Per Quarter: 625

C. Qualifying Criteria

To qualify to receive this Offer you must satisfy each of the following criteria:

  • Be an Eligible Client.
  • If you are a New Investment Client, open an Eligible Investment Account(s) during the Qualifying Period (November 10, 2026 to January 11, 2027) inclusive, and make a Qualifying Net Contribution of $5,000 or more between November 10, 2026 and the Contribution Deadline.

    If you are an Existing Investment Client of RBC Direct Investing, register for the Offer during the Qualifying Period (November 10, 2026 to January 11, 2027 inclusive), and then complete a minimum $5,000 transfer-in from a non-RBC affiliated entity to your Eligible Investment Account(s) using the RBC Mobile app or online between November 10, 2026 and the Contribution Deadline inclusive to qualify for the Offer. To enroll in the Offer, an Existing Investment Client must complete the registration form including first name, last name, email, and address exactly as stated in their RBC Direct Investing Profile as of January 11, 2027. Once registered, all Eligible Accounts, as defined below, will be included in the Offer.

  • Maintain the Qualifying Net Contributions in the Eligible Investment Account(s) for the duration of Promotional Period. If you withdraw, deregister, transfer-out or remove contributed/transferred assets from your Eligible Investment Account(s) at any time during the Promotional Period, these amounts will be subtracted from your Qualifying Net Contributions.

    Market-driven changes in your account balance will not impact your qualification for the Offer. However, changes to your account balance due to withdrawals (and/or transfers-out) during the Promotional Period will be taken into account to assess qualification for the Offer.

D. Limitations

  • This Offer is available only once for each Eligible Client, no matter how many Eligible Investment Accounts you may open or transfers-in you may make during the Qualifying Period.
  • Only the primary account holder of a joint account may participate in this Offer.
  • This Offer cannot be combined with, 'stacked', or used in conjunction with any other Offer by RBC Direct Investing, excluding the GoSmart 7,500 Avion Points Offer. By enrolling in this Offer, the Eligible Client is electing to participate in this Offer to the exclusion of any other previously available Offers. In the event the Eligible Client becomes eligible for another Offer, they may elect to participate in that future Offer but by doing so they may forfeit any Offer Payment under this Offer.
  • Qualifying Net Contributions may be combined across Eligible Investment Accounts with RBC Direct Investing to meet the Offer's qualifying criteria. For example, an Eligible Client who contributes $3,000 into an RRSP and $2,000 into a TFSA will qualify for the Offer.
  • Multiple transfers-in or contributions may be initiated into your Eligible Investment Account(s) to meet the minimum amount of Qualifying Net Contributions. All transfers-in and contributions received across your Eligible Investment Account(s) before the Contribution Deadline will be considered cumulatively.
  • The value of any assets transferred into your Eligible Investment Account(s) as well as any withdrawals, will be determined in Canadian dollars based on the end of day valuation on the date the assets are transferred out or received in the Eligible Investment Account by RBC Direct Investing at its respective discretion. Foreign currencies will be converted to Canadian dollars at RBC's prevailing prescribed rate on the date any Qualifying Net Contributions are received.
  • Options and Securities not listed on a Canadian or U.S. marketplace recognized by RBC Direct Investing will not qualify as Qualifying Net Contributions to an Eligible Investment Account at RBC Direct Investing under the Offer.
  • Contributions or transfers-in into your Eligible Investment Account(s) after the Contribution Deadline are not eligible under the Offer and do not form part of the Qualifying Net Contributions. Transfers-in have to be completed by the Contribution Deadline for example a transfer-in initiated within the Contribution Deadline but completed after the Contribution Deadline will not be counted.
  • If your Qualifying Net Contributions fall below the minimum $5,000 Canadian dollars required under the Offer at any time during the Promotional Period, you will cease to qualify to receive Avion points under the Offer.
  • 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. For complete terms and conditions that apply to the Avion Rewards Program, please visit http://www.avionrewards.com/terms-and-conditions or call 1-800-769-2512. For more information on Avion Rewards membership levels and program eligibility, please visit: https://www.avionrewards.com/eligibility.html.
  • If you close all of your Avion Rewards account prior to the deposit of the Avion points, you will forfeit this Offer.
  • This Offer is distributed by RBC Direct Investing Inc. (RBC Direct Investing). Royal Bank of Canada, RBC Direct Investing Inc. (RBC Direct Investing) and Royal Mutual Funds Inc. (RMFI) are separate corporate entities which are affiliated. RBC Direct Investing and RMFI are wholly owned subsidiaries of RBC. Other products and services may be offered by one or more separate corporate entities that are affiliated with RBC, including without limitation: RBC Direct Investing, RBC InvestEase, RMFI, RBC Dominion Securities Inc., RBC Global Asset Management Inc., Royal Trust Corporation of Canada and The Royal Trust Company.
  • We may change this Offer and/or these Terms at any time without notice. The posting of the current Terms at https://www.rbcdirectinvesting.com/fullsuite/conditions/500k.html shall be deemed sufficient notice to you of any such changes, if required.
  • In the event of a conflict between these Terms and the content of any document, brochure or promotional material advertising the Offer, these Terms shall prevail. You may always view the current Terms by visiting https://www.rbcdirectinvesting.com/fullsuite/conditions/500k.html or you may call 1-800-769-2511 to request a current copy.
  • We reserve the right, in our sole discretion, to suspend, disqualify, limit or revoke the Offer to any person or account holder we find or believe to be manipulating or otherwise abusing the process, fairness, integrity or operation of the Offer, without further explanation or advance notice to such person or account holder. By participating in the Offer, you acknowledge and agree that we will not be held liable for any direct or indirect losses, damages, or opportunity costs suffered or incurred by you or any third party as a result of us suspending, disqualifying, limiting or revoking your participation in this Offer in the event that we find or believe you to be manipulating or otherwise abusing the process, fairness, integrity or operation of the Offer.
  • If we are unable to execute the Offer as planned for any reason, including but not limited to infection of our computers/systems by virus, bugs, tampering, unauthorized intervention, fraud, technical failures, force majeure, pandemic, or any other cause beyond our reasonable control which corrupts, interferes with, or otherwise impacts the administration, security or proper conduct of this Offer, we reserve the right at our sole discretion to, without advance notice, terminate or suspend the Offer, in whole or in part, or modify it as we deem necessary.
  • You have ninety (90) days from June 30, 2027, to notify us if you believe you have completed all qualifying criteria but have not received the Offer due under these Terms. Any notice received after this date will not be accepted even if you had completed the applicable qualifying criteria during the Qualifying Period required to earn the Offer.

E. Other Terms and Conditions

  1. You are solely responsible for reviewing your personal contribution room available in registered plan accounts you hold before effecting any transfer or contribution into your Eligible Investment Account(s). You are solely responsible for any excess contribution penalty or other tax consequence that may arise from a contribution or transfer of assets into your Eligible Investment Account(s). Please consult your personal tax advisor for advice.
  2. There may be tax implications associated with this Offer. You will be solely responsible for any tax consequences associated with the Offer and/or the transfer of any assets into the Eligible Investment Account(s). Please consult your personal tax advisor for more information.
  3. Account terms and conditions in RBC Direct Investing's Operation of Account Agreement are applicable.

GoSmart is a service offered by RBC Direct Investing Inc. RBC Direct Investing Inc. and Royal Bank of Canada are separate corporate entities which are affiliated. RBC Direct Investing Inc. is a wholly owned subsidiary of Royal Bank of Canada and is a Member of the Canadian Investment Regulatory Organization and the Canadian Investor Protection Fund. Royal Bank of Canada and certain of its issuers are related to RBC Direct Investing Inc. RBC Direct Investing Inc. does not provide investment advice or recommendations regarding the purchase or sale of any securities. Investors are responsible for their own investment decisions. RBC Direct Investing is a business name used by RBC Direct Investing Inc.

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