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 annual shareholder meetings be held in person, virtual meetings being in addition to, not in replacement of, in-person meetings, 2) to annually disclose to the public the non-confidential information in its country-by-country reporting for the purposes of preparing meaningful and detailed pay ratio calculations, specifically broken down by jurisdictions, and contributing to the fight against tax havens, specifically in terms of transparency, 3) to produce a report on the loans it granted over the past few years in support of a circular economy and the steps the Company intends to take to develop the expertise needed to properly enhance the value of these businesses, 4) hold an annual advisory vote on its environmental and climate change objectives and action plan. In addition, the Company recommended the shareholders to vote against the proposal at the annual meeting of shareholders scheduled to be held on April 11, 2024.