On March 7, 2024, Royal Bank of Canada announced that it has received shareholder proposals from Shareholders' Education and Defense Movement, requesting the Company 1) to the languages mastered by officers be disclosed in the Management Proxy Circular, 2) consider thinking about making a contribution to society by devoting a certain percentage of the Bank?s earnings to the support of ESG causes, including inequality and the environment, 3) to consider the appropriateness of introducing a new incentive compensation guideline linking a portion of the compensation of all employees to the organization?s performance on its ESG goals, 4) to undertake to present, within the next three years, an ESG report with reasonable assurance instead of limited or no assurance. In addition, the Company stated that following discussion with it, Shareholders' Education and Defense Movement agreed that the above-mentioned proposals would not be submitted for a shareholder vote, at the annual meeting of shareholders scheduled to be held on April 11, 2024.