Global Financials Research Group – Best Stock Ideas

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Global Financials Research Group – Best Stock Ideas

RBC Global Equity Team

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June 22, 2026

Global Financials Research Group – Best Stock IdeasRESEARCH 2Q26: As Geopolitical Risks Subside Financial Stocks to be Favorably

Impacted

This is the 2Q26 edition of our Best Stock Ideas across Global Financials. The stocks in our Best Ideas

list delivered an average total return of +83% (USD) since inception (Dec'23), slightly underperforming

global financial equity indices (+84%). This quarter we have added: RDN US. This quarter we have

removed: PPS AU.

Since our last iteration of the Best Ideas report published on March 27th, 2026,EQUITY • Average Performance:

our Best Ideas list delivered an average total return of +16% in local currency (+16% in USD) versus

the World Financials Index which delivered a return of +13% (USD), the S&P 500 of +15% (USD), the

S&P Europe 350 of +12% (USD) and the S&P/TSX composite Index of +7% (USD).

• Additions: We have added RDN US.

• Deletions: We have removed PPS AU.

• Macro View: The economic outlook is key for investing in financial stocks, but current geopolitical

events create uncertainty. The pullback in financials share prices since the escalation of the

Middle East conflict has opened up some investment opportunities across the space, but given the

uncertainty about the implications for inflation, rates and economic growth, we remain selective in

our stock selection and update some of our key picks.

• Global Financials Coverage: The Global Financials Research Group covers financial stocks in the

following sectors: Large Cap U.S. Banks, Mid-Cap U.S. Banks, U.S. Consumer Finance Companies,

European and UK Banks, Canadian Banks; U.S., European and Canadian Insurers; Diversified U.S.,