This is the third Climate report from our RBC Emerging Markets Equity team and is designed to supplement our annual ESG report, which we have been publishing as a team since 2016. Like last year, the aim of this report is to provide stakeholders with additional information on climate-related risks and opportunities of the RBC Emerging Markets Equity Strategy (“the strategy”). We believe that companies that invest and plan for the future and focus on a range of material ESG factors, including climate change, have more durable business practices and are therefore more likely to achieve resilient, long-term returns while also avoiding the risks. RBC GAM has developed a number of climate data tools for measuring and monitoring changes in our portfolio’s climate-related risks and opportunities. Using these tools and other inputs, we can provide climate-related metrics for each of the categories below: Carbon intensity: measuring our portfolio’s Scope 1 & 2 carbon intensity relative to the benchmark. Net-zero alignment: this is based on two metrics – the percentage of AUM invested in issuers with net- zero or science-based targets 1 and issuers with a temperature alignment below 2 o C, based on ITR 2 . Climate-related engagements: our engagements focus on understanding our companies’ approach to material climate-related risks and opportunities, and monitoring their progress in addressing these. The strategy currently has a 78% lower weighted average carbon intensity (“WACI”) than the MSCI EM Index (based on WACI sales, Scope 1 and 2 emissions) 3 . The portfolio’s temperature alignment is 2.1°C, based on MSCI’s Implied Temperature Rise (“ITR”) 4 . Whilst we don’t seek a climate-related investment objective, through our analysis 5 we expect the strategy will be aligned to net-zero (inclusive of Scope 1 & 2) by 2050, based on the target years of our underlying holdings. For companies in our portfolio where climate change presents a material risk, we expect them to have a short-term carbon emissions reduction target, a net-zero target year, and a net-zero plan. We will continue to engage with companies in which we are invested, and closely monitor their progress in meeting these expectations. For our full report, please contact USMarketingTeam@rbc.com .