TORONTO, May 18, 2023 – RBC iShares today announced the expansion of its exchange traded fund (“ETF”) lineup with the launch of RBC U.S. Discount Bond ETF (TSX:RUDB / RUDB.U), RBC U.S. Discount Bond (CAD Hedged) ETF (TSX:RDBH) and USD units of RBC U.S. Dividend Covered Call ETF (TSX:RUDC.U). The new ETFs are managed by RBC Global Asset Management Inc. (“RBC GAM Inc.”) and are expected to begin trading on the Toronto Stock Exchange (“TSX”) today.

RBC U.S. Discount Bond ETF and RBC U.S. Discount Bond (CAD Hedged) ETF

RBC U.S. Discount Bond ETF and RBC U.S. Discount Bond (CAD Hedged) ETF each seek to provide investors with exposure to a diversified portfolio of primarily short-term bonds issued in the U.S. market by U.S. governments and U.S. and foreign corporations that are trading below the average price of the U.S. short-term bond universe at the time of purchase. RBC U.S. Discount Bond (CAD Hedged) ETF also hedges currency fluctuations between the U.S. and Canadian dollar.

Each ETF aims to deliver attractive after-tax yield to maturity relative to other U.S. high quality fixed income solutions by delivering a return comprising both capital gains and interest income. The ETFs are actively managed, and leverage RBC GAM Inc.’s long-standing experience in active fixed income portfolio management.

Fund Name	Ticker	Management Fee
RBC U.S. Discount Bond ETF	RUDB	0.25%
RBC U.S. Discount Bond ETF (USD Units)	RUDB.U	0.25%
RBC U.S. Discount Bond (CAD Hedged) ETF	RDBH	0.25%

“Since its launch in 2019, RBC Canadian Discount Bond ETF has been one of our more popular ETF solutions, attracting significant attention from Canadian advisors and investors due to its unique investment objective and goal of providing attractive after-tax yield to maturity,” said Mark Neill, Head of RBC ETFs at RBC Global Asset Management Inc. “By leveraging the expertise of the U.S. fixed income team at RBC Global Asset Management, we are pleased to expand our discount bond offering to cover the U.S. market, allowing our clients to achieve greater geographic diversification within their fixed income portfolios.”

RBC U.S. Dividend Covered Call ETF (USD Units)

RBC iShares has also launched USD units of the RBC U.S. Dividend Covered Call ETF. This new unit option allows Canadian advisors and investors to purchase and receive distributions of the recently launched RBC U.S. Dividend Covered Call ETF in U.S. dollars.

Fund Name	Ticker	Management Fee
RBC U.S. Dividend Covered Call ETF (USD Units)	RUDC.U	0.64%

RBC iShares aims to help clients achieve their investment objectives by empowering them to build efficient portfolios and take control of their financial futures. RBC iShares is committed to delivering a truly differentiated ETF experience and positive outcomes for clients.

For more information about RBC iShares, please visit https://www.rbcishares.com.

RBC iShares ETFs are comprised of RBC ETFs managed by RBC Global Asset Management Inc. and iShares ETFs managed by BlackRock Asset Management Canada Limited ("BlackRock Canada"). Commissions, management fees and expenses all may be associated with investments in exchange-traded funds (“ETFs”). Please read the applicable prospectus or ETF Facts document before investing. ETFs are not guaranteed, their values change frequently, and past performance may not be repeated. ETF units are bought and sold at market price on a stock exchange and brokerage commissions will reduce returns. RBC ETFs do not seek to return any predetermined amount at maturity. Index returns do not represent RBC ETF returns. RBC ETFs are managed by RBC GAM Inc., a member of the RBC GAM group of companies and an indirect wholly-owned subsidiary of Royal Bank of Canada.

About RBC Global Asset Management

RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes money managers BlueBay Asset Management and Phillips, Hager & North Investment Management. RBC GAM is a provider of global investment management services and solutions to institutional, high-net-worth and individual investors through separate accounts, pooled funds, mutual funds, hedge funds, exchange-traded funds and specialty investment strategies. The RBC GAM group of companies manage approximately $525 billion in assets and have approximately 1,500 employees located across Canada, the United States, Europe and Asia.