RBC launches investment initiative to help cultivate the next generation of Canadian farming with the goal of positioning agriculture as a growth driver for Canada

Under the banner of "RBC Generate", RBC joins a national movement to strengthen Canada's agriculture sector and launches with a $5 million investment to work with farmers in building tools, resources and incentives

RBC today announced RBC Generate - an initiative aiming to advance market, skills and finance solutions that invest in the future of Canadian agriculture. RBC Generate is designed to bring together the best and brightest from across agriculture, business, industry, education and government to help cultivate a world-leading sector that feeds Canadians more affordably and sells high quality products to consumers around the globe.

Introduced alongside Manitoba Premier Wab Kinew, RBC Generate launches with a $5 million , five-year investment in agriculture in the prairies (coming from RBC Commercial Banking and RBC Foundation) and plans to expand through programming delivered as part of a national movement with farmers, The Canadian Alliance for Net-Zero Agri-food (CANZA) Nature United, Sustainable Food Systems for Canada (SF4C) and Indigenous sustainable farming initiatives to help Canadian producers thrive while helping advance sustainable practices for years to come.

RBC believes with the right investment and innovation, Canada can make agri-food an important growth sector – leading in global trade, attracting new talent, and advancing sustainable agriculture solutions. Canadian farmers have a rich heritage in adopting new technologies, implementing sustainable practices and driving innovation, but need new solutions quickly to address challenges related to talent, productivity, costs and trade.

"Canadian soil is one of our greatest strengths and farmers have managed these soils to feed Canadians and the world for generations," said Dave McKay, President & CEO, RBC. "The next generation is primed to do even more – feeding more people, more sustainably than ever before. That's why RBC is committed to work together with the best and brightest from all over the country to create innovations that help agriculture drive growth for Canada ."

RBC Generate will support organizations that work collaboratively with industry, governments, education and business in three key areas:

1) Markets

• • Investing in stronger markets for sustainable agriculture ¹ by connecting farmers to global demand
  • Supporting farmer-led sustainable practice adoption via collaborations with Nature United to help scale their Model Farm Network across the prairies

2) Skills

• • Help equip Canadian agriculture with applied learning opportunities and training with a portion of RBC's $2bn Community investment commitment by 2035 ² intended to go towards agriculture
  • Collaborating with SF4C network of 13 universities and colleges, RBC aims to contribute to connecting over 10,000 students to agri-innovation skills and training opportunities

3) Finance

• • Investing in new financial tools, products and understanding to help the industry bridge the risks to transformative growth in agriculture
  • Upskilling RBC's commercial relationship managers and finance specialists to better serve Canada's farmers and the agriculture industry
  • Delivering tailored events for farmers and their advisors to offer skills, training and network opportunities and strengthening farm succession with holistic wealth, estate, and business planning expertise

As global demand for more sustainable, safe, and quality food rises, RBC believes Canadian farmers are well positioned to play a defining role— helping to build prosperity at home while feeding communities around the world.

Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of certain securities laws, including the "safe harbour" provisions of the United States Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation, with respect to RBC Generate and related commitment, objectives or priorities, including RBC's $2bn community investment by 2035 commitment. By their very nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties which give rise to the possibility that our predictions, expectations or conclusions will not prove to be accurate, that our assumptions may not be correct, and that our RBC Generate initiative and related commitment, objectives or priorities will not be achieved. We caution readers not to place undue reliance on our forward-looking statements as a number of risk factors, including those discussed in Appendix 8: Cation regarding forward-looking statements of our 2024 Sustainability Report, could cause our actual results to differ materially from the expectations expressed in such forward-looking statements. Except as required by law, we do not undertake to update any forward-looking statement.

About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada , the U.S. and 27 other countries. Learn more at rbc.com .‎

We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/peopleandplanet .

For media inquiries, please contact:
Sarah Kennedy , Senior Director Communications, RBC Thought Leadership, 437-577-7211

SOURCE RBC

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