EMEA Overview

A year of change and learning in EMEA with RBC moving to an outsourced model for IFM services and JLL taking over operational delivery of key services across EMEA.

New colleagues transferred into JLL from RBC as part of a first generation TUPE. Despite some early concerns, the transferred team has settled into JLL and is adjusting well to life on the other side of the industry.

COVID-19 has caused very real challenges across the Account making BAU more difficult than anybody could foresee, but the EMEA team and the supporting supply chain has remained largely resilient with only small tactical operational issues prevailing at any time and no material drop-in service. 2019/20 are now well established and have collectively worked together to overcome the bigger challenges of projects Athena and Apollo.

Overall, a productive year despite all the challenges. Below are a few accomplishments:

Accomplishments

• 100 Bishopsgate Office in London was quickly established despite JLL being engaged late on the project and starting from behind. The RFP and tendering process for IFM services (~ CA$6.5MM) was successfully completed to ensure balance of best operational fit and value for money.

• 100 Bishopsgate FM Commissioning cost challenges closed out in collaboration with RBC

• Paris HR issues, which had implications for the whole

EMEA Account closed out with a “hybrid model” – i.e.

RBC retains the local FM team and JLL takes over the supply chain • Revised RBC baseline validated and signed off by RBC. • Savings of CA$220M per annum (CA$880M OL*) already achieved year on year despite the challenges.

Further savings of CA$206M per annum identified and programmed for implementation (~ CA$1.5MM CAD total

OL*) (*OL = recurring over life) • CA$700M to date of further savings derived from operational changes related to pandemic response • EMEA Supply chain successfully migrated to JLL and compliant • Seamless delivery of operations, despite the pandemic, with zero impact on services • Exited RBH, LTS and TC in London; Avenue Hoche in

Paris (to launch services in Avenue Marceau); and

Lugano, Switzerland • Supported RBC with the rollout of COVID-19 prevention measures across EMEA. These measures included social distancing, enhanced cleaning regimes and amendments to the scope and scale of IFM services across EMEA

Looking Ahead

• Globalization of the RBC IFM model: Greater alignment with North America will be a key area of focus. • Supply chain consolidation to maximize “value for money” across EMEA. • Restructure / rethink the EMEA Account team, based on learnings from FY 2019-20, to reinforce its capabilities. • Understanding RBC’s changing post-COVID requirements • Corrigo end user rollout early 2021