October 1, 2022 to December 31, 2022

Group Registered Retirement Savings Plan Your account number Your branch
461916918 6233 199 ST NW
EDMONTON AB
T5T 2P4

STEPHEN LEMERCIER
20 NAPOLEON CRES
ST. ALBERT AB
T8N 1C6

Dear STEPHEN LEMERCIER,

Please find enclosed your investment statement package, which includes the
following documents:

Your Royal Mutual Funds Inc. (Mutual Funds) statement

Your annual charges and compensation report, from Royal Mutual Funds Inc.

Please retain your statements and consult a tax advisor for specific tax advice.
Your RBC advisor would be pleased to address any general inquiries that you may have.
 Your investment statement
October 1, 2022 to December 31, 2022

Your account number Your branch

461916918 6233 199 ST NW
Royal Mutual Funds Inc.
EDMONTON AB
Group Registered Retirement Savings Plan
T5T 2P4

STEPHEN LEMERCIER
20 NAPOLEON CRES Your beneficiary information
ST. ALBERT AB BRITTANY LEMERCIER
T8N 1C6

Summary of your Value on Value on Investment mix

investments Sep 30 2022 ($) Dec 31 2022 ($) Change ($) Dec 31 2022 (%)

A Money Market Funds

B Fixed Income Funds

C Balanced Funds 6,417.63 8,881.24 2,463.61

D Canadian Equity Funds

E U.S. Equity Funds

F International Equity Funds C 100.00%

G Global Equity Funds

Total $6,417.63 $8,881.24 $2,463.61

Since
Change in the value of your account
This period ($) Year–to–date ($) Mar 30 2022 ($)
Beginning account value 6,417.63
Amount in 2,129.74 8,896.33 8,896.33
Amount out
Change in the value of your account 333.87 -15.09 -15.09
Value of your account on December 31, 2022 $8,881.24 $8,881.24 $8,881.24

Your account performance Since

3 Month (%) 1 Year (%) 3 Year (%) 5 Year (%) 10 Year (%) May 02 2022 (%)
Your personal rate of return 4.53 N/A N/A N/A N/A -0.27

www.mfda.ca

For important information about this summary page, please see the end of this statement.
Page 1 of 8
Type of account Your account number Your investment statement
Group Registered Retirement Savings Plan 461916918 October 1, 2022 to December 31, 2022

Details of your group plan

Company Name NORTH AMERICAN CONSTRUCTION GR. Sponsor ID 602NAC
Enrolment date 2022-03-30
Withdrawal Restriction Yes

Total
Summary of contributions to your account This period ($) Year–to–date ($)
Contributions by employee 1,019.55 2,828.47

Contributions by employer 1,110.19 2,919.11

Other contributions N/A N/A

How contributions are currently being invested

Contributions by Contributions by
employee (%) employer (%)
RBC Select Balanced Portfolio 100 RBC Select Balanced Portfolio 100
Total 100 100

Your investment details with Royal Mutual Funds Inc.

Your unit Units you own Unit price on Value on Book Cost
book cost ($) Dec 31 2022 Dec 31 2022 ($) Dec 31 2022 ($) Dec 31 2022 ($)
Balanced Funds
RBC Select Balanced Portfolio - Sr. A (RBF460)
29.1532 310.495 28.6035 8,881.24 9,051.92
Total $8,881.24 $9,051.92

Your investment activity with Royal Mutual Funds Inc.

Amount of Unit Total number Number of

Transaction transaction ($) price ($) of units units you own Total value ($)

RBC Select Balanced Portfolio - Sr. A (RBF460)

Opening Balance 27.6845 231.813 6,417.63
Oct 17 2022 Contribution - Employee 199.54 27.7869 7.181 238.994 6,640.90
Oct 17 2022 Contribution - Employer 199.54 27.7869 7.181 246.175 6,840.44
Nov 01 2022 Contribution - Employee 197.16 28.4710 6.925 253.100 7,206.01
Nov 01 2022 Contribution - Employer 197.16 28.4710 6.925 260.025 7,403.17
Nov 16 2022 Contribution - Employee 149.66 29.2070 5.124 265.149 7,744.21
Nov 16 2022 Contribution - Employer 149.66 29.2070 5.124 270.273 7,893.86
Nov 30 2022 Contribution - Employee 171.03 29.9762 5.706 275.979 8,272.80
Nov 30 2022 Contribution - Employer 171.03 29.9762 5.706 281.685 8,443.85
Dec 15 2022 Contribution - Employee 302.16 29.6963 10.175 291.860 8,667.16
Dec 15 2022 Contribution - Employer 392.80 29.6963 13.227 305.087 9,059.96
Dec 23 2022 Income Record Date Holdings 305.087

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Type of account Your account number Your investment statement
Group Registered Retirement Savings Plan 461916918 October 1, 2022 to December 31, 2022

Your investment activity with Royal Mutual Funds Inc.

Amount of Unit Total number Number of

Transaction transaction ($) price ($) of units units you own Total value ($)

RBC Select Balanced Portfolio - Sr. A (RBF460) (continued)

Dec 23 2022 Income Reinvested 155.59 28.7682 5.408 310.495 8,932.38
( 0.5100000 per Unit ) 0.0000 0.000
Dec 31 2022 Closing Balance 28.6035 310.495 8,881.24

Page 3 of 8
Type of account Your account number Your investment statement
Group Registered Retirement Savings Plan 461916918 October 1, 2022 to December 31, 2022

How to reach us How to invest with us

U By telephone U By mail U By e-mail U Through Online Banking

1-888-769-2566 Royal Bank of Canada MFRP@rbc.com www.rbconlinebanking.com
Mutual Funds & U Visit our website U Call an RBC advisor at
Registered Plans www.rbcroyalbank.com/invindex 1-888-769-2566
PO BOX 6001 Station A U Visit your local branch
Montreal, QC
H3C 3A9

Information about your account

We have taken great care to ensure your client statement is correct. However, it is your obligation to review it carefully
and notify us of any errors, omissions or objections to the information as presented within forty-five (45) days of deemed
receipt of the statement.

Information about your rate of return

Your account summary section of your statement provides a personal rate of return for your account over the three time
periods indicated. This section includes mutual funds and all other investment products held in your account. Please note
that any RBC MarketSmart™ GICs are excluded from the account level personal rate of return calculation.

Your investment statement (deposits) section provides a personal rate of return for your GICs and Savings Deposit
over the three time periods indicated. Please note that any RBC MarketSmart™ GICs are excluded from the personal
rate of return calculation.

Your investment statement (mutual funds) section of your statement provides a personal rate of return for your mutual
funds over the six time periods indicated.

Rates of return are calculated using a dollar-weighted (or money-weighted) methodology (daily valuation) which is an
investment industry standard. The dollar-weighted methodology was selected because it takes into consideration the
timing of your deposits and withdrawals. Due to the industry-mandated change in calculation method and data
limitations, historic personal rates of return prior to January 1, 2016 are not available. Please refer to your June 30, 2016
account statement for your performance history based on the previous (time-weighted) calculation methodology. A rate
of return shown for a period of less than one year is not annualized. A description of the methodology used to calculate
your personal rate of return is available by visiting our web site at www.rbcroyalbank.com/return.

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Type of account Your account number Your investment statement
Group Registered Retirement Savings Plan 461916918 October 1, 2022 to December 31, 2022

Information about the investments you hold

Mutual funds are distributed through Royal Mutual Funds Inc. (RMFI). RBC Funds, PH&N Funds, BlueBay Funds and RBC
Corporate Class Funds are offered by RBC Global Asset Management Inc. (RBC GAM). RBC GAM, RMFI, Royal Bank of
Canada, Royal Trust Corporation of Canada and The Royal Trust Company are separate corporate entities which are
affiliated. RBC Funds, PH&N Funds, BlueBay Funds, RBC Corporate Class Funds and Royal Bank of Canada are related
issuers of RMFI. RMFI is licensed as a financial services firm in the province of Quebec.

Mutual funds in your account are registered in your name with RBC GAM, the fund manager, and are held by RBC GAM
on your behalf. RMFI, as the fund dealer, communicates your instructions to RBC GAM. This account structure is referred
to as Client Name.

RMFI effected and is responsible for the accuracy and information relating solely to the mutual fund transactions reported
in this statement. Royal Bank of Canada, Royal Bank Mortgage Corporation, Royal Trust Corporation of Canada or The
Royal Trust Company, as applicable, effected the transactions for other investment products held in your account, such
as savings deposits or GICs.

It is important that the information you provided about your investment time frame, investment objectives, risk tolerance
and personal circumstances is current and up-to-date. If there has been any change to this information, please contact
an RMFI mutual funds representative through your branch or by calling 1-800-463-3863 to notify them of the change.

Book Cost means the total amount paid to purchase an investment, including any transaction charges related to the
purchase, adjusted for any reinvested distributions, returns of capital and corporate reorganizations. Book Cost is
provided for information only and may not be appropriate for income tax purposes. Please consult your tax advisor to
confirm your calculations when completing your income tax return. If we did not have a record of your Book Cost as at
June 30, 2015, the market value as at that date (and not the cost of the investment) was used as the Book Cost and
provided to RBC GAM, and adjusted afterwards as described above. Transfers in are also shown at Book Cost unless we
were not advised of the Book Cost, in which case market value at the date of transfer (and not the cost of the investment)
is used as the Book Cost and adjusted afterwards as described above, and is indicated with an asterisk.

Accounts Outside of Quebec: Customers' accounts are protected by the MFDA Investor Protection Corporation within
specific limits. Customers with accounts in Quebec are generally not covered by the IPC. Please refer to the IPC
Coverage Policy on the website at www.mfda.ca/ipc for a description of the nature and limits of coverage, or contact the
IPC at 1-888-466-6332. For Quebec Accounts: Clients of mutual fund dealers that are registered with the Autorité des
marchés financiers (AMF) may benefit from fraud protection through the Fonds d'indemnisation des services financiers
(financial services compensation fund). More information is available on the AMF site at www.lautorite.qc.ca or at
1-877-525-0337.

® Registered trademark of Royal Bank of Canada.

A message to Pre-Authorized Payment (PAP) participants

RMFI has obtained permission from securities regulators to send the Fund Facts to investors with Pre-Authorized
Payments (PAPs) for mutual funds offered by RBC Global Asset Management Inc. annually after a new version is filed
only if they request it. Consequently, you will not automatically receive the new Fund Facts unless you request it at the
time you enroll in the PAP. Notwithstanding the foregoing, you can request the new Fund Facts at anytime at any RBC
Royal Bank branch, by calling 1-800-463-3863 or, by visiting funds.rbcgam.com/investor-information or
www.sedar.com.

You do not have a right to withdraw from a completed purchase under a PAP, except the initial purchase. However, the
rights available to you under securities law with respect to misrepresentation will continue to apply regardless of whether
you request or receive a new Fund Facts. In addition, you continue to have the right to terminate your PAP and future
purchases at any time.

Page 5 of 8
Page 6 of 8
 Your annual charges and compensation report
January 1, 2022 to December 31, 2022

Royal Mutual Funds Inc. Your account number

Group Registered Retirement Savings Plan 461916918

Mutual funds offer many benefits to you as an investor, including professional management, investment
diversification, easy access to your money and convenience. In addition to understanding these benefits, it is also
important for you to understand the costs associated with mutual funds. As you may know, there are costs to sell
and distribute mutual funds, as well as costs to maintain your holdings. While this report is new, the costs
associated with owning mutual funds has not changed.

Understanding the costs of mutual fund investing:

All mutual funds have a Management Expense Ratio (MER) which varies from fund to fund. The MER represents the
combined total of a fund's management fee, operating expenses and applicable taxes during a given year, and is
expressed as a percentage of the average dollar amount of a fund's total assets. Information about management
fees and other charges is disclosed to you in the Fund Facts document you receive when purchasing a mutual fund.
MERs are deducted from the mutual funds before calculating unit prices of the funds.
The management fee has two components:
1) The investment management fee paid to the mutual fund manager, RBC Global Asset Management Inc. (RBC
GAM), for professional investment management and overall supervision of the funds; and
2) The trailing commission paid to the mutual fund dealer, Royal Mutual Funds Inc. (RMFI), for ongoing advice,
access and service. (For more details about compensation received by RMFI, please see the next page.)

Management Expense Ratio (MER):

Note: Mutual funds that invest in equities may also incur a trading expense, which will vary from year to year depending
on the trading activity of the fund.

If you have any questions, we encourage you to meet with your RBC advisor, visit our website at
www.rbc.com/mutual-fund-investing or call us at 1-800-463-3863.

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 Your annual charges
Type of account Your account number and compensation report
Group Registered Retirement Savings Plan 461916918 January 1, 2022 to December 31, 2022

This personalized report provides details about the compensation received by Royal Mutual Funds Inc. (RMFI) over the
past year for advice, access and service relating to the mutual funds in your account.

From January 1 to December 31, 2022, the total trailing commission RMFI received with respect to your
account was $37.47. When the market value of your account is reported, costs represented by the Management
Expense Ratio (MER), including the trailing commission, have already been deducted; so understanding what they are
and what they pay for is important because they do reduce your investment return. RMFI receives the same trailing
commission as other mutual fund distributors when selling the same RBC GAM funds, however, does not charge
annual administration or transaction fees.

Amounts you paid for general administration of your account:

Annual account administration fee No charge
Total No charge
Amounts you paid for transactions in your account:
Sales commissions for purchases of investments No charge
Fees to switch to different investments No charge
Total No charge

Amounts RMFI received from RBC GAM with respect to your account:
Sales commissions on purchases of mutual funds No charge
Trailing commissions on mutual funds held in your account $ 37.47
Total $ 37.47

Total compensation RMFI received in 2022 with respect to your account: $ 37.47

Schedule of operating charges:

Fee to transfer your account to another financial institution $50.00

What the trailing commission pays for:

Includes advice about planning for retirement and other goals. We also offer expertise
to help you understand available investments and provide recommendations about the
R Advice solutions that will help you achieve your goals. This also includes advice on portfolio
recommendations that will help you determine an appropriate asset mix, as well as
ongoing monitoring and rebalancing to ensure you’re on track to meet your goals.
We offer multiple channels to allow you to contact RBC whenever and wherever it is
most convenient for you. This includes convenient locations where you can discuss your
R Access investment goals, 24 hour telephone support with RBC Advice Centres, and online and
mobile access anytime.
Involves keeping you informed and making sure your accounts are properly
administrated. A few examples include: Opening accounts and processing
R Service transactions; Issuing regular statements; and ensuring your accounts comply with all
laws, regulations, and tax requirements.

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