November 2, 2021 RBC Global Asset Management Inc. ("RBC GAM Inc.") announced that RBC Canadian Core Real Estate Fund (the "Fund") successfully completed the third phase of its multi-year investment program on October 29, 2021, comprising an acquisition of over $700 million in real estate assets. Additionally, the Fund earned a ranking of first in Canada in the "Diversified" category for non-listed, standing investments, and was named as an "Overall Regional Sector Leader" in the Americas in its inaugural Global Real Estate Sustainability Benchmark ("GRESB") assessment. THIRD CLOSING OF THE FUND The third closing of the Fund exceeded its target by raising over $450 million in equity subscriptions, continuing its phased investment strategy with British Columbia Investment Management Corporation ("BCI") and QuadReal Property Group ("QuadReal").