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RBC Extends Sponsorship of RBC Canadian Open through 2017

Five-year agreement further solidifies RBC's significant presence on PGA TOUR

Oakville, Ont. (Golf Canada) — RBC, Golf Canada and the PGA TOUR officially announced today that RBC has extended its title sponsorship of the RBC Canadian Open for five years, through 2017. Terms of the partnership were not disclosed.

Dating back to 1904, the RBC Canadian Open is tied with the Australian Open as the third-oldest national golf open behind The Open Championship (British) and United States Open. This year marks the 103nd playing of Canada's National Open Championship. Sean O'Hair will defend his title at Hamilton Golf & Country Club in Ancaster, Ontario, July 26-29.

Since becoming title sponsor of Canada's historic national golf championship in 2008, RBC has worked closely with Golf Canada to improve the tournament in a number of areas including the implementation of a rotation among Canada's best golf courses, increasing charitable giving and enhancing the overall experience for fans and players.

After originally signing as title sponsor, RBC announced with Golf Canada a plan for the RBC Canadian Open to generate $5 million over five years in support of children's wellness in Canada. The tournament is well on its way to achieving this goal, having contributed more than $4.1 million dollars to various charities and community programs after the first four years. As part of this vision, the RBC Canadian Open named the Mike Weir Foundation as its National Charity Partner. Proceeds from the RBC Canadian Open will help provide a lasting legacy in both the event's host community as well as communities across the country.

"Without question, RBC's involvement as title sponsor has lent stability and growth to the RBC Canadian Open and elevated its impact through charitable giving," said PGA TOUR Commissioner Tim Finchem. "RBC, in partnership with Golf Canada, also spearheaded a plan to move the RBC Canadian Open to the best golf courses throughout Canada, which has proven to be a tremendous success and has helped to strengthen its field. We are delighted that RBC will continue to provide such a positive influence to this historic tournament in the coming years."

For Golf Canada CEO Scott Simmons, RBC's continued relationship with Canada's National Open Championship solidifies RBC's standing as a champion supporter of golf in Canada.

"RBC is playing a major role in supporting excellence in Canadian golf and we are honoured to have them continue on as title sponsor of the RBC Canadian Open," said Simmons. "RBC is one of Canada's most respected corporations and as a partner in golf, their brand, strength and continued commitment to conducting a world-class event has elevated the status and prestige of Canada's National Open Championship. On behalf of our Board of Directors, staff and Canadian golf fans from coast to coast, we thank RBC for their continued investment in Canadian golf."

"Our sponsorship of the RBC Canadian Open has been terrific for RBC, the tournament and the communities that benefited from our charitable commitment," said Jim Little, Chief Brand and Communications Officer at RBC. "We are proud to see the tournament back in its rightful place as a prominent stop on the PGA TOUR. Golf is a key driver for our brand here in Canada and internationally, and our renewed partnership demonstrates our commitment and enthusiasm for Canada's National Open Championship."

RBC proudly supports golf around the world through high profile relationships with the PGA TOUR, The PGA of America and Golf Canada. In addition to being title sponsor of Canada's National Open Championship, RBC is also helping to nurture the next generation of Canadian golfers through its support of Canada's National Amateur Golf Team (Team Canada); contributing to Canada's National Amateur Golf Championships; and lending its support to emerging Canadian professional golfers in their transition to the PGA TOUR and LPGA Tour.

RBC's presence on the PGA TOUR is also strengthened by its title sponsorship of the RBC Heritage on Hilton Head Island, South Carolina through 2016. RBC has also established Team RBC, a partnership with prominent PGA TOUR members Mike Weir, Stephen Ames, Luke Donald, Ernie Els, Matt Kuchar, Jim Furyk, and Fred Couples, as well as Morgan Pressel of the LPGA Tour. In addition, RBC is the Official Bank and Patron Sponsor of the PGA Championship, the Senior PGA Championship and PGA Grand Slam of Golf as well as Proud Supporter of the 2012 Ryder Cup.

About RBC

Royal Bank of Canada (RY on TSX and NYSE) and its subsidiaries operate under the master brand name RBC. We are Canada's largest bank as measured by assets and market capitalization and are among the largest banks in the world as measured by market capitalization. We are one of North America's leading diversified financial services companies and provide personal and commercial banking, wealth management services, insurance, corporate and investment banking and transaction processing services on a global basis. We employ approximately 74,000 full- and part-time employees who serve more than 16 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 51 other countries. Please visit www.rbc.com.

About PGA TOUR

The PGA TOUR is the world's premier membership organization for touring professional golfers, co-sanctioning nearly 100 tournaments on the PGA TOUR, Champions Tour and Nationwide Tour.

The PGA TOUR's mission is to entertain and inspire its fans, deliver substantial value to its partners, create outlets for volunteers to give back, generate significant charitable and economic impact in communities in which it plays, and provide financial opportunities for TOUR players.

PGA TOUR tournaments are broadcast to approximately 715 million households in 225 countries and territories in 29 languages. Virtually all tournaments are organized as non-profit organizations in order to maximize charitable giving. In 2011, tournaments on the three Tours generated more than $118 million for local charitable organizations, bringing the TOUR's all-time total of charitable contributions to more than $1.7 billion.

The PGA TOUR's web site is PGATOUR.COM, the No. 1 site in golf, and the organization is headquartered in Ponte Vedra Beach, FL.

About GOLF CANADA

Golf Canada is the governing body of golf in Canada, representing more than 340,000 members at almost 1,500 clubs across the country. Recognized by Sport Canada as the National Sports Organization (NSO) for golf in this country, Golf Canada is responsible for promoting participation in and a passion for the game of golf in Canada.

A proud member of the Canadian Olympic Committee, Golf Canada actively conducts championships, programs and services to help shape the present and future of golf in Canada. High performance athlete development, Golf in Schools presented by Callaway, Golf Fore the Cure presented by Subaru, the Canadian Golf Hall of Fame and Museum and CN Future Links, Canada's national junior golf program, are only some of the initiatives the association leads for golf in Canada. As the authority for golf in Canada, the association also administers the Rules of Golf, amateur status and handicapping and course rating.

In addition, Golf Canada conducts Canada's most prestigious golf championships. The RBC Canadian Open and CN Canadian Women's Open attract the best professional golfers in the world, while regional junior and national amateur championships provide world class competitive opportunities for Canada's top golfers to showcase their talents. For more information about what Golf Canada is doing to support golf in your community, visit us online at www.golfcanada.ca.

For further information, please contact:

Dan Pino, Golf Canada, (800) 263-0009 ext. 406, dpino@golfcanada.ca

Jackie Braden, RBC Brand Communications, 416-974-1724, jackie.braden@rbc.com

Chris Smith, PGA TOUR, (904) 273-3379, csmith@pgatourhq.com