#1Investor Presentation May 2023 Scotiabank®#2Caution Regarding Forward-Looking Statements From time to time, our public communications include oral or written forward-looking statements. Statements of this type are included in this document, and may be included in other filings with Canadian securities regulators or the U.S. Securities and Exchange Commission ("SEC"), or in other communications. In addition, representatives of the Bank may include forward-looking statements orally to analysts, investors, the media and others. All such statements are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. Forward-looking statements may include, but are not limited to, statements made in this document, the Management's Discussion and Analysis in the Bank's 2022 Annual Report under the headings "Outlook" and in other statements regarding the Bank's objectives, strategies to achieve those objectives, the regulatory environment in which the Bank operates, anticipated financial results, and the outlook for the Bank's businesses and for the Canadian, U.S. and global economies. Such statements are typically identified by words or phrases such as "believe," "expect," "foresee," "forecast," "anticipate," "intend," "estimate," "plan," "goal," "target," "project," "commit," "objective," and similar expressions of future or conditional verbs, such as "will," "may," "should," "would," "might," "can" and "could" and positive and negative variations thereof. By their very nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, which give rise to the possibility that our predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that our assumptions may not be correct and that our financial performance objectives, vision and strategic goals will not be achieved. We caution readers not to place undue reliance on these statements as a number of risk factors, many of which are beyond our control and effects of which can be difficult to predict, could cause our actual results to differ materially from the expectations, targets, estimates or intentions expressed in such forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: general economic and market conditions in the countries in which we operate; changes in currency and interest rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the failure of third parties to comply with their obligations to the Bank and its affiliates; changes in monetary, fiscal, or economic policy and tax legislation and interpretation; changes in laws and regulations or in supervisory expectations or requirements, including capital, interest rate and liquidity requirements and guidance, and the effect of such changes on funding costs; changes to our credit ratings; the possible effects on our business of war or terrorist actions and unforeseen consequences arising from such actions; operational and infrastructure risks; reputational risks; the accuracy and completeness of information the Bank receives on customers and counterparties; the timely development and introduction of new products and services, and the extent to which products or services previously sold by the Bank require the Bank to incur liabilities or absorb losses not contemplated at their origination; our ability to execute our strategic plans, including the successful completion of acquisitions and dispositions, including obtaining regulatory approvals; critical accounting estimates and the effect of changes to accounting standards, rules and interpretations on these estimates; global capital markets activity; the Bank's ability to attract, develop and retain key executives; the evolution of various types of fraud or other criminal behaviour to which the Bank is exposed; disruptions in or attacks (including cyber-attacks) on the Bank's information technology, internet, network access, or other voice or data communications systems or services; increased competition in the geographic and business areas in which we operate, including through internet and mobile banking and non-traditional competitors; exposure related to significant litigation and regulatory matters; climate change and other environmental and social risks, including sustainability that may arise, including from the Bank's business activities; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; inflationary pressures; Canadian housing and household indebtedness; the emergence of widespread health emergencies or pandemics, including the magnitude and duration of the COVID-19 pandemic and its impact on the global economy, financial market conditions and the Bank's business, results of operations, financial condition and prospects; and the Bank's anticipation of and success in managing the risks implied by the foregoing. A substantial amount of the Bank's business involves making loans or otherwise committing resources to specific companies, industries or countries. Unforeseen events affecting such borrowers, industries or countries could have a material adverse effect on the Bank's financial results, businesses, financial condition or liquidity. These and other factors may cause the Bank's actual performance to differ materially from that contemplated by forward-looking statements. The Bank cautions that the preceding list is not exhaustive of all possible risk factors and other factors could also adversely affect the Bank's results, for more information, please see the "Risk Management" section of the Bank's 2022 Annual Report, as may be updated by quarterly reports. Material economic assumptions underlying the forward-looking statements contained in this document are set out in the 2022 Annual Report under the headings "Outlook", as updated by quarterly reports. The "Outlook" and "2023 Priorities" sections are based on the Bank's views and the actual outcome is uncertain. Readers should consider the above-noted factors when reviewing these sections. When relying on forward-looking statements to make decisions with respect to the Bank and its securities, investors and others should carefully consider the preceding factors, other uncertainties and potential events. Any forward-looking statements contained in this document represent the views of management only as of the date hereof and are presented for the purpose of assisting the Bank's shareholders and analysts in understanding the Bank's financial position, objectives and priorities, and anticipated financial performance as at and for the periods ended on the dates presented, and may not be appropriate for other purposes. Except as required by law, the Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by or on its behalf. Additional information relating to the Bank can be located on the SEDAR website at www.sedar.com and on the EDGAR section of the SEC's website at www.sec.gov. 2#3TABLE OF CONTENTS Scotiabank Overview Business Line Overview: Canadian Banking Business Line Overview: International Banking Business Line Overview: Global Wealth Management Business Line Overview: Global Banking and Markets Risk Overview Treasury and Funding Appendix 1: Core Markets: Economic Profiles Appendix 2: Canadian Economic Fundamentals Appendix 3: Bail-in and TLAC Appendix 4: Covered Bonds Appendix 5: Reconciliation for non-GAAP Financial Measures Appendix 6: Additional Information Contact Information 4 21 27 36 41 F 44 51 58 69 75 79 2 mm 5 83 93 95 3#4Leading Bank in the Americas Core markets: Canada, US, Mexico, Peru, Chile and Colombia FY23 HIGHLIGHTS 7th largest bank by assets¹ in the Americas Scotiabank FY23 YTD FY 2022 MEDIUM TERM FINANCIAL OBJECTIVES Reported Adjusted Reported Adjusted All-Bank Objectives Net Income ($Bn) 3.9 4.5 10.2 10.7 EPS Growth 7%+ EPS ($) 3.04 3.55 8.02 8.50 ROE² 14%+ Revenue ($Bn) 15.9 31.4 31.8 Operating Return on Equity² Positive 11.1% 12.9% 14.8% 15.7% Leverage Productivity Ratio² 56.8% 56.6% 54.4% 52.8% Strong Capital³ Levels Total Assets ($T) 1.37 1.35 CET1 Ratio³ 12.3% 11.5% LOANS MARKET SHARE 5 FY2022 EARNINGS BY MARKET7 Canada #3 C&CA-Other USA6 U.S.A USMCA Top 10 FBO 404% 8% Pacific Alliance Mexico Peru #5 22% $9.9Bn #3 PAC Countries Chile (PAC) #3 Colombia #6 62% Canada 1 Ranking by asset as at May 16, 2023, Bloomberg; 2 Refer to page 54 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 3 This measure has been disclosed in this document in accordance with OSFI Guideline - Capital Adequacy Requirements (February 2023); 4 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com; 5 Ranking based on market share in loans as of March 2023; except Canada as of January 2023 and Colombia as of February 2023; 6 Ranking by assets as of December 2022; 7Net income attributable to equity holders of the Bank for the 12 months ended October 31, 2022 4#5Well Diversified Business with Strong Returns EARNINGS BY BUSINESS LINE EX. OTHER 1, 2, 3 Global Wealth Management 15% EARNINGS BY GEOGRAPHY 1 Caribbean and Central America (C&CA) 4% Other 4% Peru 4% Colombia 1% Global U.S. 8% Banking FY2022 REPORTED and Markets 18% EARNINGS Canadian $10.6Bn Banking 45% Mexico 8% FY2022 REPORTED EARNINGS $9.9Bn Canada 62% Chile 9% International Banking 23% REPORTED RETURN ON EQUITY BY BUSINESS LINE 4,5 26.3% 22.2% ■3-Year Average ■FY22 15.5%16.2% 12.9% 15.2% 14.3% 13.3% 14.8% 9.4% Canadian Banking International Banking Global Wealth Global Banking and Management Markets All Bank 1Net income attributable to equity holders for the 12 months ended October 31, 2022; 2 Excludes Other segment (FY22: -$732MM in net income attributable to equity holders for the 12 months ended October 31, 2022); 3 May not add due to rounding; 43-Year ROE calculated as average of full year 2020-2022 ROES; 5 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com 5#6Business Lines (FY23 YTD Reported Results) Business Line CANADIAN BANKING INTERNATIONAL BANKING GLOBAL WEALTH MANAGEMENT GLOBAL BANKING AND MARKETS Mortgages Auto Loans • Mortgages . Auto Loans Business Loans • Corporate and Products • • • Personal Loans Credit Cards Personal Deposits Non-Personal Deposits Commercial Banking • Personal Loans Credit Cards Capital Markets Asset Management . Corporate Lending . Private Banking • Advisory Private Investment • Equities Counsel • Brokerage . Trust Fixed Income Foreign Exchange Payments & Transaction Banking Advisory and Products Personal Deposits • Non-Personal Deposits NIAEH¹ ($MM) $2,147 $1,296 $738 $920 % All-Bank² 42% 25% 14% 18% % Target 35-40% 25-30% ~15% 15-20% Productivity 46.1% 53.5% 61.8% 53.4% Ratio³ ROE4 22.9% 13.3% 15.2% 11.9% Total Deposits5 ($Bn) $332.2 $122.4 $34.4 $183.7 Total Assets5 ($Bn) $450.3 $233.5 $34.0 $484.1 Employees 19,750 41,274 7,777 2,201 1Excludes Other segment (FY23 YTD: -$1,236MM in net income attributable to equity holders for the 6 months ended April 30, 2023); 2 May not add due to rounding; 3 Refer to page 54 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 4 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com; 5 Average balance for the 6 months ended April 30, 2023; 6 Employees are reported on a full-time equivalent basis 6#7Why Invest in Scotiabank? Leading bank in the Americas Diversified exposure to high quality growth markets , Increasing scale and market share in core markets • Strong risk culture: solid credit quality, well provisioned * Acceleration in Digital Banking • Six core markets: Canada, US, Mexico, Chile, Peru and Colombia • ~97% of FY23 YTD earnings from the Americas • • Only universal bank with full presence in all Pacific Alliance countries • • Unique Americas footprint provides diversified exposure to higher growth, high ROE banking markets 230 million people in the Pacific Alliance countries comprise the 6th largest economy in the world Competitive scale and increasing market share in core markets Competitive advantages in technology, risk management and cross- border solutions versus competitors Strong Canadian risk management culture with strong capabilities in AML and cybersecurity • Focus on secured and investment-grade lending • $5.9 billion in allowances for credit losses as of Q2/23 • Increased Digital Adoption to 60% in Q2/23 (up 200 bps Y/Y) • Launched Scotia Smart Investor, an all-new platform that aligns solutions to customer goals by blending Al-powered recommendations and personalized advice in real-time Named "Digital Bank of the Year for Latin America and the Caribbean" by Latin Finance's 2022 Banks of the Year Awards Launched Scotia TranXact, a new digital payments platform to provide business banking clients with real-time payment services and cash management APIs 7#8Focused on Higher Return Markets SCOTIABANK P&C BANKING FOCUSED ON HIGHER ROE MARKETS 35% 30% 25% 20% 31.7% 15% 10% 5% 0% Canada¹ 2 15.9% 15.2% Pacific Alliance | Average FY22 ROE of Canadian banks in each market FY22 ROE of BNS in Pacific Alliance market 3 10.6% 4 13.0% US Average 10-Year ROE of largest banks in each market 1 Average FY22 ROE of Canadian P&C segments of RY, TD, BMO, CM, and BNS; 2 Average 10-year ROE of Banorte, Banbajio, Santander Mexico, Credicorp, Bancolombia, Santander Chile and Banco de Chile; 3 Average 10-year ROE of JP Morgan, BofA, Citi, Wells Fargo, Truist, US Bancorp, PNC, Fifth Third, M&T and Comerica; 4 Banks include TD, BMO and CM's US Banking segment Sources: Company Financial Reports 8#9Q2 2023 Financial Performance $MM, except EPS Q2/23 Y/Y Q/Q Reported Net Income $2,159 (21%) 22% • Pre-Tax, Pre-Provision Profit¹ $3,353 (11%) (5%) • Diluted EPS $1.69 (22%) 24% Revenue $7,929 (1%) Expenses $4,576 10% 3% Productivity Ratio² 57.7% 530 bps 180 bps Net Interest Margin³ 2.13% (10 bps) 2 bps PCL Ratio² 37 bps 24 bps 4 bps PCL Ratio on Impaired Loans² 33 bps 9 bps 4 bps Return on Equity² 12.3% (390 bps) 240 bps Return on Tangible Common Equity³ 15.4% (500 bps) 300 bps • Adjusted³ Net Income $2,174 (21%) (8%) Pre-Tax, Pre-Provision Profit¹ $3,374 (11%) (5%) Diluted EPS $1.70 (22%) (8%) Revenue $7,929 (1%) • Expenses $4,555 10% 3% Productivity Ratio 57.5% 540 bps 180 bps Return on Equity 12.4% (400 bps) (100 bps) • YEAR-OVER-YEAR HIGHLIGHTS Diluted EPS down 22% Adjusted pre-tax, pre-provision profit down 11% Revenues flat o Net interest income: Loan growth of 12% was offset by lower margins o Non-interest income: Higher banking revenues, fees and commissions offset by challenging markets impacting wealth revenues NIM down 10 bps (Q/Q NIM improved 2 bps) Expenses up 10% (up 3% Q/Q) o Impacted by unfavourable FX translation, inflationary adjustments, higher personnel and advertising costs PCL ratio of 37 bps o Performing PCL ratio of 4 bps Deposits up $13 billion Q/Q5 Return on Tangible Common Equity 15.4% (500 bps) (140 bps) REPORTED NET INCOME YEAR-OVER-YEAR ($ MM) 2,747 -10% REPORTED NET INCOME 4 BY SEGMENT ($MM) Q2/22 Q2/23 (7) (6) 332 2,159 (417) (490) -18% +0% -13% 1,179 1,060 642 642 407 353 488 401 Q2/22 Net Interest Non-Interest Non-Interest Income Income Expenses PCLS Taxes Global Wealth Management 1 Pre-Tax, Pre-Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 83; 2 Refer to page 54 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 3 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com; 4 Attributable to equity holders of the Bank; 5 Excludes Other segment Q2/23 Canadian Banking Global Banking and Markets International Banking (Constant FX) 9#10Earnings and Dividend Growth $5.18 Reported +4% CAGR DILUTED EARNINGS PER SHARE 1 $8.02 ון $3.04 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 FY23 YTD Adjusted $8.50 +5% CAGR $5.22 $3.55 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 FY23 DIVIDENDS PAID PER SHARE Announced dividend increase to $1.06 from $1.03 in Q2/23 +6% CAGR $4.06 $2.06 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 FY23 YTD 1 Excludes notable items for years prior to 2016 YTD 10 10#11Strong Capital Position 11.5% Q/Q CHANGE IN CET1 RATIO (%) 1 12.3% 9 bps 4 bps 18 bps 56 bps (4 bps) • CET1 ratio of 12.3%, expected to grow through fiscal 2023 Strong internal capital generation across business lines Includes benefits of revised Basel III adoption and share issuances Q1 2023 Reported Revised Basel III Earnings less adoption dividends RWA growth Share issuances (ex. FX) (mainly DRIP) FVOCI securities Q2 2023 Reported Internal capital generation 471.5 Q/Q CHANGE IN RISK WEIGHTED ASSETS ($BN) Q/Q decline in RWA of $20.4 billion was primarily from revised Basel III adoption, partly offset by foreign currency appreciation 451.1 4.8 2.4 0.4 (26.6) (1.4) Q1 2023 Reported Revised Basel III Adoption Business Growth Book Quality and Model Updates FX & Other Market Risk Q2 2023 Reported 1 This measure has been disclosed in this document in accordance with OSFI Guideline - Capital Adequacy Requirements (February 2023) 11#12Strong Balance Sheet Metrics $Bn Q2/22 Q1/23 Q2/23 Capital Metrics CET1 Ratio 11.6% 11.5% 12.3% Tier 1 Capital Ratio¹ 12.8% 13.2% 14.1% Total Capital Ratio¹ 15.0% 15.2% 16.2% TLAC Ratio³ 30.1% 27.9% 28.3% Leverage Ratio² 4.2% 4.2% 4.2% TLAC Leverage Ratio³ 9.8% 8.9% 8.4% CET1 Capital 51.5 54.1 55.5 Tier 1 Capital¹ 57.2 62.3 63.7 Total Capital 66.6 71.9 73.2 Risk Weighted Assets¹ 445.3 471.5 451.1 Total Loss Absorbing Capacity³ 133.8 131.4 127.8 Leverage Exposures² 1,360.2 1,468.6 1,530.0 Average Common Equity Average Tangible Common Equity4 65.5 65.6 67.6 52.4 52.5 54.3 Liquidity Metrics Liquidity Coverage Ratio5 125% 122% 131% Net Stable Funding Ratio High Quality Liquid Assets 109% 109% 111% 214.1 230.3 252.3 Balance Sheet Metrics Loan-To-Deposit Ratio 115% 116% 115% Wholesale Funding/Total Assets (Spot) 21.9% 22.8% 22.7% Average Total Earning Assets4 Average Net Loans and Acceptances Average Deposits 1,161.3 1,261.5 1,279.2 700.7 775.5 611.5 666.5 783.2 679.1 1 This measure has been disclosed in this document in accordance with OSFI Guideline - Capital Adequacy Requirements (2023); 2 This measure has been disclosed in this document in accordance with OSFI Guideline - Leverage Requirements (November 2018). 3 This measure has been disclosed in this document in accordance with OSFI Guideline - Total Loss Absorbing Capacity (September 2018). 4 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com 5 This measure has been disclosed in this document in accordance with OSFI Guideline - Public Disclosure Requirements for Domestic Systemically Important Banks on Liquidity Coverage Ratio (April 2015) 6 This measure has been disclosed in this document in accordance with OSFI Guideline - Net Stable Funding Ratio Disclosure Requirements (January 2021). 7 This metric is calculated using Average Total Loans to Customers/Total Deposits of Canadian Banking, International Banking (Reported FX), Global Wealth Management, and Global Banking and Markets 8 Business line deposits excluding Group Treasury wholesale funding. Includes wholesale funding in International Banking and Global Banking and Markets 12 12#13Scotiabank in the Pacific Alliance¹ Q2/232 Chile Mexico Peru Colombia Scotiabank Market Share3,4 14.6% 7.7% 16.2% 5.2% Pacific Alliance Total/Average 10.5% Market Share Ranking3,4 3rd 5th 3rd 6th n.a. Average Total Loans ($Bn) $58.1 $43.5 $22.8 $11.9 $136.3 Revenue ($Bn) $0.6 $0.7 $0.4 $0.2 $1.9 Net Income after NCI ($MM)7 $165 $207 $126 ($6) $492 ROE2,9 10.1% 21.2% 18.9% (2.0%) 13.8% # of Employees 7,380 8,783 8,947 5,350 30,460 AVERAGE DEPOSIT 2,7,9 AVERAGE LOAN 2,7,9 PRODUCTIVITY RATIO 2,5 PTPP 2,7,8,9 9% 11% Y/Y -4% Y/Y 136 136 70% Y/Y 94 92 125 68% 12 12 85 9 10 11 1,040 1,082 1,003 8 61% 73 95 68 26 26 23 52 7 16 16 17 23 23 62 58 58 375 49% 50% 354 348 47% 23 23 41% 43% 40% 238 266 248 37 41 39% 41 42 38% 39 43 44 38% 352 367 338 Q2/22 Q1/23 Q2/23 Q2/22 Q1/23 Q2/23 Mexico Peru Chile Q2/22 Q1/23 Q2/23 Q2/22 Q1/23 Q2/23 Colombia 1Figures excluding Wealth Management; 2 Dollar amounts and growth rates (%) are on a constant dollar basis, while metrics are on a reported basis; 3 Ranking based on publicly traded banks by total loans market share; As of March 2023, except Colombia as of February 2023; 5 Refer to page 54 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 6 Employees are reported on a full-time equivalent basis; 7 May not add due to 13 rounding; 8 Pre-Tax, Pre-Provision Profit defined as revenues less expenses; 9 See non-GAAP reconciliations beginning on slide 83#14Digital Progress: All-Bank Canada: Progress across all key metrics as customer adoption of Digital continues. Pacific Alliance: Continued digital progress with steady increase in digital and mobile customers across all countries. DIGITAL ADOPTION (%) +6% ACTIVE 7,524 8,073 8,733 8,357 8,889 +200 bps DIGITAL USERS ( %23' 0 0 0 ) 6,316 +41% 56% 59% 58% 60% 50% 2019 2020 2021 2022 Q2/22 Q2/23 43% +1,650 bps +11% 2019 2020 2021 2022 Q2/22 Q2/23 ACTIVE 5,903 6,727 7,496 7,813 7,057 DIGITAL SALES (%) MOBILE USERS ( %23' 0 0 0 ) 1 4,513 +73% 2019 2020 2021 2022 Q2/22 Q2/23 +420 bps +60 bps 50% 51% 47% 42% 36% 28% +2,330 bps SELF-SERVE TRANSACTIONS (%) 89% 92% 92% 92% 93% 81% +1,190 bps 2019 2020 2021 2022 Q2/22 Q2/23 2019 2020 2021 2022 Q2/22 Q2/23 12019 uses historical estimation based on available mobile user data for Colombia and Chile 14#15Digital Progress: Canada DIGITAL ADOPTION (%) +7% ACTIVE 3,599 3,847 4,071 4,368 4,222 4,535 +160 bps DIGITAL USERS ( %23'000) +26% 55% 59% 61% 60% 62% 50% +1,180 bps 2019 2020 2021 2022 Q2/22 Q2/23 +12% 2019 2020 2021 2022 Q2/22 Q2/23 ACTIVE DIGITAL SALES (%) MOBILE USERS ( %23' 0 0 0 ) 1 2,666 3,073 3,393 3,704 3,488 3,896 +46% -160 bps 2019 2020 2021 2022 Q2/22 Q2/23 +10 bps 28% 29% 27% 26% 23% +140 bps 16% SELF-SERVE TRANSACTIONS 87% 92% 93% 93% 93% 94% +650 bps (%) 2 2019 2020 2021 2022 Q2/22 Q2/23 2019 2020 2021 2022 Q2/22 Q2/23 Definitions Digital Sales (% of retail unit sales using Digital platforms, excluding auto, broker originated mortgages and mutual funds) Digital Adoption (% of customers with Digital login (90 days) Total addressable Customer Base) Digital Users: # of customers who logged into website and / or mobile in the last 90 days Mobile Users: # of customers who logged into mobile in the last 90 days Self-serve Transactions: % of Financial transactions through Digital, ABM, IVR 15 15#16Digital Progress: Pacific Alliance +5% DIGITAL ADOPTION (%) 3,677 4,002 4,365 4,134 4,354 ACTIVE 2,717 +240 bps DIGITAL USERS ( %23'000) 58% 57% 53% 55% +60% 2019 2020 2021 2022 Q2/22 Q2/23 46% 35% +2,240 bps +10% 2019 2020 2021 2022 Q2/22 Q2/23 3,334 3,793 3,570 3,917 ACTIVE 2,830 DIGITAL SALES (%) MOBILE ( %23' 0 0 0 ) 1 USERS 1,847 +112% 2019 2020 2021 2022 Q2/22 Q2/23 +820 bps +110 bps 68% 70% 61% 55% 51% 87% 90% 91% 91% 92% 75% +4,050 bps 29% SELF-SERVE TRANSACTIONS +1,740 bps (%) 2019 2020 2021 2022 Q2/22 Q2/23 2019 2020 2021 2022 Q2/22 Q2/23 Definitions Digital Sales (% of retail unit sales using Digital platforms) Digital Adoption (% of customers with Digital login (90 days) / Total addressable Customer Base) Digital Users: # of customers who logged into website and/or mobile in the last 90 days Mobile Users: # of customers who logged into mobile in the last 90 days Self-serve Transactions: % of Financial transactions through Digital, ABM, IVR, POS 12019 use historical estimation based on available mobile user data for Colombia and Chile 16 16#17• Technology Strategy D HM $ Develop uniform, secure, and differentiated customer and employee experiences Invest in leading technology products to achieve business goals, drive innovation, and enable business transformation Drive efficiencies and accelerate revenue growth by streamlining, automating, and digitizing how we deliver at scale • Further enhance cybersecurity and stability/resiliency capabilities to continually earn our customers' trust • Modernize core platforms to enhance quality, reduce time to market and lower delivery cost INVESTMENTS IN TECHNOLOGY 13.2% 11.6% 11.8% Tech expense Modern, reusable products, services and platforms as % of revenue • Modern ways of working - agile and cloud first • Advanced analytics to power customer insights • $4,146 $3,708 $3,348 Tech expense (in $millions) End-to-end digitization and intelligent operations Security and stability by design 2018 2020 2022 17#18• Fintech Strategy EMBRACING FINTECH Scotiabank has embraced fintech and technology start-ups, acting as an advisor, partner, investor and customer The key objectives of Scotiabank's fintech strategy are: o Identify innovative companies, trends and business models early o Test, learn and implement fintech innovations o Drive an innovation culture at the Bank m PARTNERSHIP APPROACH Scotiabank partners with VCs to amplify our relevance and reach in the global ecosystem, enabling earlier and faster access to innovative companies Canada High-growth enterprise software firms in analytics, machine learning and enterprise software Israel High growth tech companies in fintech and cybersecurity Latam Early-stage start-ups in digital banking and fintech SAMPLE FOCUS AREAS • Channel Engagement • Advanced Robotic Process Automation • Accessibility • • Natural language processing Machine-learning modelling • IT Modernization • Personal financial management • Fraud • Customer experience and self- • Anti-Money Laundering service SAMPLE PARTNERSHIPS A platform utilized to accelerate identification, classification and management of data on our systems gog A digital engagement platform to interact remotely with clients through multi- functionality A platform that enables complex automation, allowing for digitization and categorization of data elements requiring judgements 18#19ESG Highlights from 2022 ESG Report and Q2 Update • • ENVIRONMENT • Mobilized $96 billion since November 1, 2018, towards our target of $350 billion in climate- related finance by 2030. Outlined the efforts undertaken in addressing our net-zero objectives and the Bank's net-zero transition plan activities. Achieved 29% reduction of Scope 1 and 2 greenhouse gas (GHG) emissions in our own operations (from 2016 levels) against our target of 35% reduction by 2030. $35.3 billion of sustainable finance activity, including green, social, sustainability and sustainability-linked bonds, loans and M&A advisory services. Invested $73.5 million since 2018 in initiatives to reduce energy consumption and improve energy efficiency across the Bank's footprint. 2022 ESG REPORT SOCIAL Contributed $91 million to communities through donations, community sponsorships, employee volunteering and other community investments. $60 million of our community spend was distributed through Scotia RISE in the first two years across 200 organizations globally to support economic resilience, progressing towards our goal of $500 million over 10 years. Scotiabank ranked one of the top 25 World's Best Workplaces by Great Place to Work® — the only Bank and the only Canadian headquartered company to make the list. Introduced a new goal to increase representation in Canada of employees who identify as lesbian, gay, bisexual or another diverse sexual orientation to 7% or greater by 2025. Deployed $5.6 billion in capital through The Scotiabank Women InitiativeⓇ in Canada and expanded the program to Jamaica, Costa Rica and Chile. • • • GOVERNANCE Employee engagement continues to be strong at 87%, ahead of financial sector industry averages. Ninety-two percent of employees report they take pride in working for Scotiabank. Enhanced our enterprise-wide Risk Management Framework, expanding our principal risk definition from environmental risk to ESG risk and established an ESG performance metric as a risk appetite metric. Linked ESG performance, including progress on our climate commitments, to all Bank performance pay. Recognized for Outstanding Global Leadership in Sustainability Transparency by Global Finance for the second year in a row. Launched our Ethics Assistant - Trusted Al tool to enhance the Bank's investments in data and analytics related to new Al and machine learning projects, and published our Data Ethics Principles. . Progress on the efforts undertaken in addressing net zero commitments was published as part of Scotiabank's ESG Report, including our second year of reporting against 2030 emissions reduction targets in two sectors. Q2 2023 Recognized for executive gender diversity on The Globe and Mail's Women Lead Here list for the third year in a row. Recognized with five Bond Awards by Environmental Finance, including Social Bond of the Year - Sovereign: Government of Canada's Ukraine Sovereignty Bond, and Green Bond of the Year - Sovereign: Government of Canada 2022 Scotiabank 2022 ESG Report, includes update to the Net-Zero Report NET-ZERO 2021 Inaugural Net-Zero Pathways Report II MSCI ESG RATINGS AAA Bloomberg Gender-Equality Index DRIVING SUSTAINABLE CCC B BB BBB A AA AAA 2022 CDP E ECONOMIES B Rating The Bank of Nova Scotia Banks Sustainability Yearbook Member S&P Global ESG Score 2022 77/100 As of May 9, 2023. Position and Score are industry specific and reflect exclusion screening criteria. Learn more at spglobal.com/es/yearbook S&P Global Sustainable1 Corporate ESG Performance RATED BY ISS ESG▷ Prime 19#20ESG Spotlight - Retail Banking 20 20 FOCUS AREAS ESG Investing Green Vehicles Housing Leadership in ESG Education Leadership in ESG Funds Leadership in EV Incentives Leadership in EV Financing Leadership in Indigenous Financial Services Leadership in Newcomers Banking RECENT ACHIEVEMENTS Scotiabank ranked first for ESG research in the 2022 Brendan Wood International institutional investor survey Introduced Canada's first sustainable investing tools through Scotiabank's iTrade in 2017. Tool continues to see engagement by tens of thousands of self-directed investors looking for ratings and insights on how well firms are performing from an ESG perspective Introduced the Dynamic Active Sustainable Solutions, including the newly launched Dynamic Sustainable Equity Fund and re-branded Dynamic Sustainable Credit Fund JFL was selected as a top investment manager in the Great Canadian ESG Championship • FYTD as of April 2023, EV loans represented 14.8% of our total Auto bookings and were 16.7% of the total amount financed. In comparison, EV represented 7.8% of our total Auto bookings and 9.4% of the total amount financed throughout all FY2022 • Scotiabank's booking growth for electric vehicles (units) was 103% Y/Y FYTD as of April 2023, compared to the Y/Y growth of 26% in the same period in FY2022 We have an exclusive relationship with Polestar and Rivian as well as a semi-exclusive relationship with Tesla All our automotive manufacturer partners have and will continue to be introducing EV vehicles in the months and years ahead • Scotiabank's Indigenous Financial Services team is Indigenous-led and comprised of experts in land development both on and off reserve, with vast experience in residential developments and conveyancing The First Nations Leasehold Financing program provides financing options for leasehold interests on First Nations land being developed with residential housing Scotiabank's StartRight® program addresses the unique banking needs of newcomers in Canada The Scotiabank StartRightⓇ permanent resident mortgage program and the Scotiabank StartRightⓇ temporary resident mortgage program help facilitate newcomers' financing of home purchases C#21Business Line Overview Canadian Banking 21 21#22Canadian Banking Canadian Banking provides a full suite of financial advice and banking solutions, supported by an excellent customer experience, to over 10 million Retail, Small Business and Commercial Banking customers. It serves these customers through its network of 943 branches and 3,716 automated banking machines (ABMS), as well as online, mobile and telephone banking, and specialized sales teams. Canadian Banking also provides an alternative self-directed banking solution to over 2 million Tangerine Bank customers. BUSINESS MIX Retail 74% Q2/23 Revenue 63% Q2/23 Average Residential Mortgages STRATEGIC FOCUS Growing Commercial Banking in select industries (agriculture, healthcare & professionals, real estate and technology) Growing in under-represented provinces (BC and Quebec) Loans6 $3.1Bn $447Bn FINANCIAL RESULTS ($MM) 26% Credit Cards 2% 8% 17% Business Other Personal Business Banking 11% Auto $MM Q2/23 Y/Y Q/Q Reported Net Income¹ $1,060 (10%) (2%) REPORTED NET INCOME1 ($MM) AND NIM 4 (%) Pre-Tax, Pre-Provision Profit² $1,677 6% (2%) Revenue $3,134 8% (1%) 2.22% 2.29% 2.26% 2.26% 2.30% Expenses $1,457 10% 1% PCLS $218 nmf 1,179 1,213 1,170 1,087 1,060 Productivity Ratio³ 46.5% 90 bps 70 bps Net Interest Margin4 2.30% 8 bps 4 bps PCL Ratio³ 20 bps 21 bps 1 bp Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 PCL Ratio on Impaired Loans³ 21 bps 8 bps 4 bps MEDIUM-TERM FINANCIAL OBJECTIVES 5 Adjusted4 Net Income¹ $1,061 (10%) (3%) Net Income Growth 1,3 5%+ Productivity Ratio³ <44% Positive Pre-Tax, Pre-Provision Profit² Expenses Productivity Ratio $1,678 6% (2%) $1,456 10% 1% 46.4% 100 bps 60 bps Operating Leverage³ 1 Net income attributed to equity shareholders; 2 Pre-Tax, Pre-Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 83; 3 Refer to page 54 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 4 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com; 5 3-5 year target from 2020 Investor Day; 6 May not add due to rounding 22#23Canadian Loan Portfolio HIGH QUALITY RESIDENTIAL MORTGAGE PORTFOLIO • 27% insured; remaining 73% uninsured has an LTV of 53%¹ • Mortgage business model is "originate to hold" • New originations² in Q2/23 had average uninsured LTV of 61% • Majority is freehold properties; condominiums represent approximately 16% of the portfolio DOMESTIC RETAIL LOAN BOOK 4 Spot Balance as of Q2/23 83% Real Estate Secured Lending MARKET LEADER IN AUTO LOANS • $40.9 billion³ retail auto loan portfolio with 10 OEM relationships (6 exclusive) . Prime Auto and Leases (~93%) Stable lending tenor with contractual terms for new originations averaging 78 months (6.5 years) with projected effective terms of 54 months (4.5 years) $386Bn PRUDENT GROWTH IN CREDIT CARDS $8 billion³ credit card portfolio represents ~2% of domestic retail loan book and ~1% of the Bank's total loan book Organic growth strategy focused on payments and deepening relationships with existing customers 4% Unsecured 2% Credit Cards 11% Automotive 1 LTV calculated based on the total outstanding balance secured by the property. Property values indexed using Teranet HPI data; 2 New originations defined as newly-originated uninsured residential mortgages and equity lines of credit, which include mortgages for purchases, refinances with a request for additional funds and transfer from other financial institutions; 3 Net of allowance for credit losses; 4 May not add due to rounding 23 23#24Canadian Residential Mortgages 73% Uninsured Total Portfolio 1,2 $300 27% Insured CANADIAN MORTGAGE PORTFOLIO ($BN) 36% Variable 64% Fixed Total Portfolio 12: $300 Mortgage Variable Portfolio Mortgages Total Outstanding Balance Uninsured Outstanding Balance Average LTV³ $300 $109 $220 $94 53% 61% CANADA UNINSURED MORTGAGE PORTFOLIO 4 FICO® DISTRIBUTION - UNINSURED PORTFOLIO 4 Average FICO® % of Portfolio Score Uninsured Canada 802 73% GTA 803 85% GVA 806 86% 86% 7% 2% 5% <620 620-680 681-720 >720 1 Includes Wealth Management; 2 Spot Balances at Q2/23; 3 Weighted by mortgage balances and adjusted for property values based on the Teranet - National Bank National Composite House Price Index; 4 FICO is a registered trademark of Fair Isaac Corporation 24#25Canadian Residential Mortgages in $ billions 166.2 22.7 CANADIAN MORTGAGE PORTFOLIO 1,2 Freehold Condos 84% ($253Bn) Freehold 59.6 143.5 32.2 16.7 20.2 11.6 10.2 3.7 42.9 2.9 0.3 0.7 28.5 17.3 11.3 9.5 Ontario BC & Territories Alberta Quebec Atlantic Provinces Manitoba & Saskatchewan % of portfolio 55.4% 20.0% 10.7% 6.6% 3.9% 3.4% Total Portfolio 1,2: $300Bn 16% ($47Bn) Condos in $ billions MATURITY SCHEDULE 92.5 ■Fixed ■Variable 71.0 63.8 7.0 39.1 NEW GTA/GVA MORTGAGE ORIGINATIONS Q2/22 Q1/23 Q2/23 48.2 33.5 2.3 18.1 56.8 3.0 53.4 21.0 31.2 9.6 15.1 22.8 Greater Toronto Area Total Originations ($Bn) Uninsured LTV3 Greater Vancouver Area Total Originations ($Bn) 5.3 2.5 1.5 62% 63% 61% 2.3 1.0 0.5 11.4 Uninsured LTV3 62% 62% 59% FY23 FY24 FY25 FY26 FY27 FY28+ Asset yields on variable rate mortgages reprice with each change to Scotiabank's prime rate 1 Includes Wealth Management; 2 Spot Balances at Q2/23, may not add due to rounding; 3 Average LTV ratios for our uninsured residential mortgages originated during the quarter 25 25#26Automotive Finance • Canada's leader in automotive finance • . HIGHLIGHTS Provide personal and commercial dealer financing solutions, in partnership with ten leading global automotive manufacturers in Canada Portfolio increased 9% year-over-year: Personal up 5%, Commercial up 39%1 Commercial 14% ASSET MIX Near-Prime 6% $47.5Bn1,2,3 Retail 100% Secured 80% Prime Retail RELATIONSHIPS Exclusive MAZDA VOLVO POLESTAR RIVIAN JAGUAR/LAND ROVER MITSUBISHI Semi-Exclusive4 HYUNDAI STELLANTIS/CHRYSLER GENERAL MOTORS TESLA MARKET SHARE ASSET GROWTH ($BN) Prime Retail5 Near-Prime Retail6 Commercial Floorplan? $44.4Bn 36% 64% 80% 20% 78% 22% $37.1Bn 2016 2017 2018 2019 2020 2021 2022 1 Average balance for the three months ended April 30, 2023; 2 May not add due to rounding; 3 Net of allowance for credit losses; 4 1 to 2 other financial institutions comprise Semi-Exclusive relationships; 5 CBA data as of October 2022, includes RBC, BMO, TD, Scotiabank, CIBC, National Bank; 6 Dealer Track Portal data, includes all Near-Prime Retail providers on Dealer Track Portal, data for April 2023 originations; 7 Includes BMO, CIBC, RBC, Scotiabank, TD, HSBC, Canadian Western Bank, Laurentian Bank, data as of September 2022 26#27Business Line Overview International Banking 27 27#28International Banking International Banking is a strong and diverse franchise with over 11 million Retail, Corporate, and Commercial customers. The geographical footprint encompasses the Pacific Alliance countries of Mexico, Chile, Peru, and Colombia, as well as Central America, the Caribbean, and Uruguay. BUSINESS MIX Business Loans • 55% Asia 1% Q2/23 Q2/23 Revenue 76% Latin Mix Auto 1% America 23% $2.8Bn Credit 5% Cards Loan Mix $177.2Bn STRATEGIC FOCUS Deepening relationships with the Affluent Retail segment Continue driving efficiencies and customer experience by leveraging Digital FINANCIAL RESULTS ($ MM) 10% C&CA Personal Loans 29% Constant dollar basis 1,4 Residential Mortgages $MM Reported Q2/23 Q2/22 Y/Y1 Q1/23 Q/Q¹ REPORTED NET INCOME 1,2 ($MM) AND NIM 4,6 (%) 3.96% 3.95% 4.08% 4.12% Net Income² $642 $642 Pre-Tax, Pre-Provision Profit³ Revenue $1,273 $2,752 4.00% Expenses $1,479 $1,200 6% $2,552 $1,352 $689 $1,322 (4%) (7%) 8% 9% $2,809 (2%) $1,487 (1%) PCLS $436 $292 49% $422 3% 642 679 680 689 642 Productivity Ratio4 Net Interest Margin5 53.7% 52.7% 100 bps 53.2% 50 bps 4.12% 3.96% 16 bps 4.00% 12 bps Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 PCL Ratio PCL Ratio Impaired Loans4 103 bps 77 bps 26 bps 96 bps 7 bps 94 bps 77 bps 17 bps 89 bps 5 bps MEDIUM-TERM FINANCIAL OBJECTIVES 8 Adjusted4 Net Income Growth 2,5 Productivity Ratio5 Operating Leverage5 9%+ <50% Positive Net Income² Pre-Tax, Pre-Provision $650 $650 $697 (7%) $1,284 $1,211 6% $1,332 (4%) Profit³ Expenses Productivity Ratio $1,468 $1,341 9% $1,477 (1%) 53.3% 52.2% 110 bps 52.8% 54 bps 1 Current and prior period dollars, Y/Y and Q/Q growth rates (%) are on a constant dollar basis, while metrics and change in bps are on a reported basis; 2 Net income attributed to equity shareholders, on a constant dollar basis; 3 Pre-Tax, Pre-Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 83; 4 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com; 5 Refer to page 54 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 6 Prior period has been restated to include as a deduction non-interest bearing deposits with banks, to align with the Bank's definition; 7 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures; 8 3-5 year target from 2020 Investor Day 28#29PAC Fundamentals Driving Growth • • STRONG GOVERNANCE Democratic countries with open economies Independent central banks with inflation-targeting regimes Free trade agreements and free-floating currencies Business-friendly environments • SOUND MACRO ENVIRONMENT Diversified economies with solid underlying economic fundamentals Relatively low debt/GDP ratios compared with OECD and emerging-market economies Increasing adoption of banking services • FAVOURABLE DEMOGRAPHICS Over 230 million people with a median age of 30 years Important exposure to growing Asian markets while maintaining close links to US economy Among the fastest growing smartphone markets in the world Considerable growth in the middle class 29#30Scotiabank in Mexico¹ BUSINESS OVERVIEW 2 Operating since 2003 offering Retail, Small Business, Commercial, GBM, Wealth and Treasury solutions PERFORMANCE EVOLUTION ($MM) 2 1,248 1,315 PTPP 4,5 NIAEHA 1,069 845 Q2/23 Customers³ ~2.5MM 671 261 352 338 231 207 Employees³ ~8,800 2020 2021 2022 Q2/22 Q2/23 Branches³ 453 WY/WY Y/Y Loans $44Bn PTPP Growth 4,5 6% 17% 5% 19% (4%) NIAEH Growth4 (52%) 157% 26% 68% (11%) Deposits $42Bn Loan Growth 14% (2%) 12% 10% 12% ROE4 21.2% NIM4,6 4.35% 4.40% 4.14% 4.13% 4.06% Digital Adoption (%) 52% Productivity Ratio 55.0% 50.0% 49.0% 47.1% 49.8% Digital Sales (%) 66% Operating Leverage 1.3% 8.9% 2.2% 9.9% (6.9%) ECONOMIC OUTLOOK7 LOAN PORTFOLIO 8 MARKET SHARE AND POSITIONS 9, 10 Residential 2023E 2024E GDP Growth (%) 1.6% 1.3% Population Growth (%) 0.85% 0.82% CPI (y/y % eop) 5.5% 4.2% Mortgages Total Loans 5th 8% 32% $43.5Bn Mortgage 4th Non-mortgage 6th 3% 16% Unsecured 6% Corporate/ Commercial 58% Auto 3% Commercial 5th 7% Total Deposits 6th 7% 1 All figures excluding Wealth Management; 2 Current and prior period dollars, Y/Y and Q/Q growth rates (%) are on a constant dollar basis (with WYs at YTD23 FX rates and Q2/22 and Q2/23 at Q223 FX rates), while metrics are on a reported basis; 3 Including subsidiaries; customers down 600K vs Q1/23 due to consolidation of inactive accounts (largely social program accounts); 4 See non-GAAP reconciliations beginning on slide 83; 5 Pre-Tax, Pre-Provision Profit defined as revenues less expenses; 6 Net Interest Margin calculated as Core Net Interest Income / Average Core Earning Assets; 7 Source: Scotiabank Economics. GDP and CPI as at May 18, 2023 forecast; Population Growth: World Economic Outlook Database, April 2023; 8 May not add due to rounding; 9 Key Competitors: BBVA, Banamex Citigroup, Santander, Banorte, HSBC; Source: CNBV/Banxico; 10 As of March 2023 30#31Scotiabank in Peru¹ PERFORMANCE EVOLUTION ($ MM) 2 BUSINESS OVERVIEW 2 In Peru since 1997, but officially started operations in 2006. Offers Retail, Small Business, Commercial, GBM, Wealth and Treasury solutions PTPP 4,5 NIAEH 1,276 1,037 927 Q2/23 332 405 Customers³ ~3.7MM 289 238 248 100 126 Employees³ ~8,900 2020 2021 2022 Q2/22 Q2/23 Branches³ 256 WY/WY Y/Y Loans $23Bn PTPP Growth 4,5 (0%) (19%) (11%) (2%) 4% NIAEH Growth4 (54%) 15% 22% 32% 26% Deposits $16Bn Loan Growth 9% 1% 6% 8% 0% ROE4 18.9% NIM4,6,7 5.91% 4.79% 4.41% 4.52% 4.97% Digital Adoption (%) 49% Productivity Ratio 35.3% 38.3% 39.4% 38.4% 39.4% Digital Sales (%) 59% Operating Leverage 0.5% (6.4%) (2.5%) 2.0% (2.9%) ECONOMIC OUTLOOK 8 LOAN PORTFOLIO 9 MARKET SHARE AND POSITIONS 10, 11, 12 Residential GDP Growth (%) 2023E 1.9% 2024E 2.2% Mortgages 17% Total Loans 3rd 16% Population Growth (%) 1.00% Mortgage 3rd 18% $22.8Bn CPI (y/y % eop) 5.0% 3.5% Non-mortgage 3rd 16% Unsecured 28% Commercial 3rd 16% Corporate/ Commercial 55% Total Deposits 4th 13% 1 All figures excluding Wealth Management, 2 Current and prior period dollars, Y/Y and Q/Q growth rates (%) are on a constant dollar basis (with WYs at YTD23 FX rates and Q2/22 and Q2/23 at Q223 FX rates), while metrics are on a reported basis; 3 Including subsidiaries; 4 See non-GAAP reconciliations beginning on slide 83; 5 Pre-Tax, Pre-Provision Profit defined as revenues less expenses; 6 Net Interest Margin calculated as Core Net Interest Income / Average Core Earning Assets; 7 NIM WY2020 has been restated; 8 Source: Scotiabank Economics. GDP and CPI as at May 18, 2023 forecast; Population Growth: World Economic Outlook Database, April 2023; 9 May not add due to rounding; 10 Key Competitors: BCP, BBVA, Interbank; Source: ASBANC; 11 As of March 2023; 12 Peru system values and market shares experienced a change in reporting methodology, where in previous periods the system included all types of subsidiaries and credit unions, which were excluded from the volume calculations for Q2/23 31#32Scotiabank in Chile¹ BUSINESS OVERVIEW 2 Operating since 1999, after taking an initial stake in 1990, offering Retail, Small Business, Commercial, GBM, Wealth and Treasury solutions PERFORMANCE EVOLUTION ($MM) 2 1,355 PTPP 4,5 NIAEH4 1,165 1,091 911 Q2/23 Customers³ 592 298 ~2.8MM 354 348 245 165 Employees³ ~7,400 2020 2021 2022 Q2/22 Q2/23 Branches³ 109 WY/WY Y/Y PTPP Growth 4,5 6% 7% 16% 24% Loans $58Bn (2%) NIAEH Growth4 (20%) 98% 54% 78% (32%) Deposits $26Bn Loan Growth 9% 2% 14% 13% 11% ROE4 10.1% NIM4,6 2.81% 2.93% 3.20% 3.38% 3.38% Digital Adoption (%) 72% Productivity Ratio 46.6% 43.5% 40.4% 39.6% 42.7% Digital Sales (%) 84% Operating Leverage 3.0% 7.0% 7.0% 11.2% (8.7)% ECONOMIC OUTLOOK 7 LOAN PORTFOLIO 8 Residential 2023E 2024E GDP Growth (%) (0.8%) 2.8% Population Growth (%) 0.95% 0.91% CPI (y/y % eop) 3.7% 3.0% Mortgages MARKET SHARE AND POSITIONS 9,10 Total Loans 3rd 15% 40% $58.1Bn Corporate/ Commercial 44% Unsecured 17% Mortgage 2nd Non-mortgage 3rd 14% Commercial 4th 13% 18% Total Deposits 4th 12% 1 All figures excluding Wealth Management; 2 Current and prior period dollars, Y/Y and Q/Q growth rates (%) are on a constant dollar basis (with WYS at YTD23 FX rates and Q2/22 and Q2/23 at Q223 FX rates), while metrics are on a reported basis; 3 Including subsidiaries; 4 See non-GAAP reconciliations beginning on slide 83; 5 Pre-Tax, Pre-Provision Profit defined as revenues less expenses; 6Net Interest Margin calculated as Core Net Interest Income / Average Core Earning Assets; 7 Source: Scotiabank Economics. GDP and CPI as at May 18, 2023 forecast; Population Growth: World Economic Outlook Database, April 2023; 8 May not add due to rounding; 9Key Competitors: DeChile, Santander, BCI, Itau; Source: Comisión para el Mercado Financiero (CMF); 10 As of March 2023 32 32#33Scotiabank in Colombia¹ BUSINESS OVERVIEW 2 Operating since 2011 offering Retail, Small Business, Commercial, GBM, Wealth and Treasury solutions PERFORMANCE EVOLUTION ($MM) 2 354 328 PTPP 4,5 NIAEH 299 Q2/23 95 57 68 39 18 Customers³ ~2.8MM -39 -6 Employees³ ~5,400 2020 2021 2022 Q2/22 Q2/23 Branches³ 112 WY/WY Y/Y Loans PTPP Growth 4,5 $12Bn (25%) (7%) (9%) 1% (28%) NIAEH Growth4 (147%) (244%) (30%) 7% (132%) Deposits ROE4 $10Bn Loan Growth 10% 1% 13% 15% 9% (2.0%) NIM4,6 6.32% 5.62% 4.87% 5.34% 4.16% Digital Adoption (%) 71% Productivity Ratio 64.0% 62.9% 66.8% 60.5% 70.0% Digital Sales (%) 59% Operating Leverage (13.5%) 1.4% (5.8%) (4.0%) (13.1%) ECONOMIC OUTLOOK 7 LOAN PORTFOLIO 8 MARKET SHARE AND POSITIONS 9, 10 Residential 2023E 2024E GDP Growth (%) 1.5% 2.5% Population Growth (%) 1.06% 1.03% CPI (y/y % eop) 8.8% 4.4% Mortgages Total Loans 6th 5% 16% Mortgage 5th 7% $11.9Bn Non-mortgage 5th 6% Unsecured 30% Commercial 6th 4% Corporate/ Commercial 53% Total Deposits 6th 5% 1 All figures excluding Wealth Management; 2 Current and prior period dollars, Y/Y and Q/Q growth rates (%) are on a constant dollar basis (with WYs at YTD23 FX rates and Q2/22 and Q2/23 at Q223 FX rates), while metrics are on a reported basis; 3 Including subsidiaries; 4 See non-GAAP reconciliations beginning on slide 83; 5 Pre-Tax, Pre-Provision Profit defined as revenues less expenses; 6 Net Interest Margin calculated as Core Net Interest Income / Average Core Earning Assets; 7 Source: Scotiabank Economics. GDP and CPI as at May 18, 2023 forecast; Population Growth: World Economic Outlook Database, April 2023; 8 May not add due to rounding; 9 Key Competitors: Banco de Bogota, Bancolombia, Davivienda, BBVA, Occidente, Banco Corpbanca; Source: Superfinanciera/Asobancaria; 10 As of February 2023 33#34International Banking: CCA¹ FINANCIAL PERFORMANCE AND METRICS ($MM) Reported (Constant FX) 2,3 Q2/23 Q1/23 Q2/22 Q/Q² Y/Y² 20% Revenue $623 $603 $547 3% 14% Central America Expenses $344 $350 $328 (2%) 5% GEOGRAPHIC DISTRIBUTION 7,8 REVENUE 65% English Caribbean PTPP4,9 $279 $253 $219 10% 28% $623MM Provision for Credit Losses $25 $37 $43 (32%) (42%) 15% Net Income Attributable to Equity $172 $141 $99 22% 74% Holders (NIAEH) Dominican Republic Net Interest Margin⁹ 6.00% 5.68% 5.02% 32 bps 98 bps Return on Equity⁹ 20.9% 16.5% 11.1% 441 bps 981 bps 13% Productivity Ratio5 55.2% 57.8% 60.6% (262 bps) (544 bps) Central America Risk Adjusted Margin 6,9 5.65% 5.19% 4.41% 46 bps Effective Tax Rate 22.0% 22.3% 30.4% (37 bps) 124 bps (850 bps) 9% NIAEH³ $172MM 78% English Caribbean RETURN ON EQUITY (%) 54.1% Dominican Republic 26.1% 17.6% 7.9% 8.5% 10.4% 6.0% 4.9% 2021 English Caribbean 2022 Dominican Republic 6.8% Q2/23 Central America 32% Central America 15% Dominican Republic AVERAGE EARNING ASSETS $33Bn 54% English Caribbean 1 Figures excluding wealth management: 2 Current and prior period dollars, Y/Y and Q/Q growth rates (%) are on a constant dollar basis, while metrics and change in bps are on a reported basis; 3 Refer to non- GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com; 4 Pre-Tax, Pre-Provision Profit defined as revenues less expenses; 5 Refer to page 54 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 6 Risk-Adjusted Margin calculated as (Net Interest Income less Provision for Credit Losses) / Average Core Earning Assets; 7 For the 3 months ended April 30, 2023; 8 May not add due to rounding; 9 See non-GAAP reconciliations beginning on slide 83 34#35Other Regions CARIBBEAN & CENTRAL AMERICA • Leading Caribbean & Central American franchise • • The franchise offers services and products to support over 1.8MM retail, corporate, commercial, wealth and insurance customers Major markets include the Trinidad & Tobago, Jamaica, Costa Rica, Panama, Dominican Republic and The Bahamas Strong and stable deposit base Leaders in digital banking through innovative use of technology and commitment to continued improvement • • ASIA China: ~18% interest in Bank of Xi'an The Carrying Value at Q2'23 is CAD $1,099 MM Bank of Xi'an reported $129MM of net income for the 3 months ended March 31, 20231, of which Scotiabank's share is 18% • URUGUAY Scotiabank Uruguay is a leading bank among private institutions in the market, offering services and products to support 0.4MM retail, small business and corporate customers Strong and stable deposit base In addition the bank operates Pronto!, a consumer finance business, offering personal loans and credit cards products 1 Based on the most recent available financial statements 35#36Business Line Global Wealth Overview Management 36#37Global Wealth Management 3rd Largest Wealth Management Business in Canada¹ Global Wealth Management is focused on delivering comprehensive wealth management advice and solutions to clients across Scotiabank's footprint. Global Wealth Management serves over 2.5 million investment fund and advisory clients across 13 countries - administering over $600 billion in assets. 14% Q2/23 Revenue Mix $1.3Bn 86% BUSINESS MIX 10% Q2/23 AUM² 22% Q2/23 AUA² $330Bn $624Bn 78% 90% • STRATEGIC FOCUS Canada: Maintain momentum leveraging our unique operating model and market leading capabilities International: Follow Scotia's footprint, building out Advisory and Asset Management businesses in PAC markets International Canada REPORTED NET INCOME ³ ($MM) AND ROE 4 (%) FINANCIAL RESULTS ($MM) 17.5% $MM, except AUM/AUA Reported Q2/23 Y/Y Q/Q 15.5% 14.8% 15.5% 14.8% Net Income³ $353 (13%) (8%) Pre-Tax, Pre-Provision Profit5 $482 (13%) (8%) Revenue $1,300 (4%) (2%) 407 376 361 385 353 Expenses $818 2% 2% PCLs $2 nmf nmf Productivity Ratio² 63.0% 390 bps 240 bps Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 AUM ($Bn)² $330 1% 2% MEDIUM-TERM FINANCIAL OBJECTIVES AUA ($Bn)² $624 5% 3% Adjusted4 Net Income Growth 2,3 Productivity Ratio² Operating Leverage² 8%+ <65% Positive Net Income³ $359 (13%) (8%) Pre-Tax, Pre-Provision Profit 5 $491 (13%) (8%) Expenses Productivity Ratio $809 2% 2% 62.3% 380 bps 240 bps 1 Based on Total Net Income for publicly traded banks in Canada for the 3 months ended January 31, 2023; 2 Refer to page 54 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 3 Attributable to equity holders of the bank; 4 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com; 5 Pre-Tax, Pre- Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 83 37#38Global Wealth Management #1 in Loan growth¹ | #2 in Retail Mutual Fund Assets in Canada² • • Continue product innovation: 2023 PRIORITIES Drive innovation in products to deliver industry-leading investment capabilities and performance through purpose-built solutions for customers across Global Wealth Management's brands and channels Plan-based, holistic advice: Deliver the entire bank to new and existing clients with complex needs through our Total Wealth strategy Invest in digital: Digitally enable sales and advice to support all our distribution channels, including proprietary and 3rd party sales • • Focus on international: Maximize our international footprint by growing the product shelf, and by enhancing internal capabilities in sales and distributions. Invest and grow the International Wealth business by following our retail footprint Enhance our winning team culture: Cultivate a talented, diverse workforce, and foster an environment to keep our customers and employees safe, while delivering outstanding results and client experiences REPORTED PRODUCTIVITY 62.8% RATIO +8% CAGR 63.0% AUM +8% CAGR AUA 330 624 311 580 403 207 2020 2021 2022 Q2/23 2017 2022 Q2/23 2017 2022 Q2/23 1 Figures for the 3 months ended January 31, 2023 2 Ranking as at April 30, 2023 38#39Global Wealth Management 3RD LARGEST WEALTH MANAGEMENT BUSINESS IN CANADA¹ CANADA MEXICO CHILE COLOMBIA PERU CCAU ASSET MANAGEMENT A broad range of actively managed investment solutions from our innovative platform Mutual Funds ETFs Pooled Funds Liquid Alternatives Hedge Funds Private Asset Funds Segregated Portfolios Institutional Asset Management WEALTH MANAGEMENT A powerful advisory and distribution network across Canada and Latin America Online Brokerage Retail Bank Branch Network Mobile Advice Team Full-Service Brokerage Private Investment Counsel Private Banking Trust and Philanthropic Services Global Family Office Group 1832 ASSET MANAGEMENT L.P.M JARISLOWSKY MD MD Financial Management Scotia Wealth Management. MD Scotia Funds. Dynamic Funds FRASER 1 Based on Total Net Income for publicly traded banks in Canada for the 3 months ended January 31, 2023 Scotia iTRADE. MD Financial Management Scotiabank® Branch mobile advice team 39#40Global Wealth Management • AWARD-WINNING INVESTMENT MANAGEMENT Strong investment performance, increasing scale Scotia Global Asset Management wins prestigious awards including 25 FundGrade A+ Awards and 8 individual Lipper Awards across its Scotia Funds and Dynamic Funds brands for consistent, outstanding, risk-adjusted performance Scotia Asset Management Chile Ranked 1st in the annual ranking by El Mercurio Investments in the balanced mutual fund category Scotia Asset Management Chile won Morningstar Award - Best Overall Fund House Award JFL is ranked 5th in Endowments & Foundations and ranked 22nd in Canadian Pension Assets Industry recognition for five of Dynamic Business Development team who were included in Wealth Professional Canada's 2023 Top 50 Wholesalers ranking. INVESTMENT PERFORMANCE HIGHLIGHTS 66% (1) of 1832 Asset Management assets in the top two quartiles over a five-year period • • TAILORED ADVICE Scotia Wealth Management 2023 Global Finance Awards: Best Private Bank for Net Worth between $1MM and $24.9MM and Best Private Bank for women clients Scotia Wealth Management recognized as Best Domestic Private Bank in Canada by Euromoney's Global Private Banking Awards 2023 Scotia iTRADEⓇ provides the best desktop-based online brokerage experience amongst Canadian self-directed online brokerage firms according to Surviscor's 2022 Online Brokerage Desktop Experience Review Scotiabank is the largest Private Investment Counsel Business in Canada on a combined basis with JFL PIC, Scotia PIC and MD PIC with assets over $70Bn Scotia Wealth Management Brokerage Peru obtained the 1st position in the BVL (Lima Stock Exchange) SAB ranking in the Secondary Market Fixed Income category Trust Colombia ranked among the top 3 companies with the best performance in terms of gender equality and diversity in Colombia, according to the most recent results of the PAR Ranking of the firm Aequales 1 As of April 30, 2023 40 40#41Business Line Global Banking Overview and Markets 41#42Global Banking and Markets Global Banking and Markets (GBM) provides corporate clients with lending and transaction services, investment banking advice and access to capital markets. GBM is a full-service wholesale bank in the Americas, with operations in 21 countries, serving clients across Canada, the United States, Latin America, Europe and Asia-Pacific. BUSINESS MIX Asia 3% Canada Europe 6% Global Business Banking • 48% Equities 14% 59% Q2/23 Revenue¹ Q2/23 Revenue $1.4Bn $1.4Bn • 43% 26% US FICC NET INCOME 2 ($MM) AND ROE5 (%) STRATEGIC FOCUS Executing a consistent strategy to be a top wholesale Bank in the Americas, that is focused on Geography, Client and Product Leverage strong balance sheet to support corporate lending and asset growth across the America's footprint to win increased financing business Well positioned to leverage the Bank's unique geographic footprint across the Americas to serve it's cross-border clients in Canada, US and LatAm FINANCIAL RESULTS ($MM) 15.6% 13.4% 13.2% $MM Q2/23 Y/Y Q/Q 10.5% 11.1% Reported Net Income² $401 (18%) (23%) 488 484 519 378 401 Pre-Tax, Pre-Provision Profit³ $600 (1%) (18%) Revenue $1,352 7% (10%) Expenses $752 15% (3%) Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 PCLS $53 nmf nmf MEDIUM-TERM FINANCIAL OBJECTIVES Productivity Ratio4 55.6% 390 bps 420 bps PCL Ratio4 15 bps 31 bps 11 bps PCL Ratio Impaired Loans4 1 bp Net Income Growth 2,4 Productivity Ratio4 Operating Leverage4 ~5% ~50% Positive 1 May not add due to rounding; 2 Attributable to equity holders of the Bank; 3 Pre-Tax, Pre-Provision Profit defined as revenues less expenses; See non-GAAP reconciliations beginning on slide 83; 4 Refer to page 54 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 5 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com; 42#43GBM in US and Latam DELIVERING THE FULL BANK TO MEET OUR AMERICAS CLIENTS' NEEDS Wholesale bank in the US: Corporate & Investment Banking, Capital Markets, Deposits, and Trade Finance Top 10 Foreign Bank Organization (FBO) in the US Client list focused on S&P 500, investment grade corporates Clients across multiple sectors with focus areas for growth include Consumer / Industrial / Retail (CIR), Technology, and Healthcare US1 Latam¹ $582 million Revenue $567 million $61 billion Average Loans $61 billion $104 billion Average Deposits $30 billion • $174 million Total NIAT $276 million • 52.4% 5 Productivity Offices 24.8% 9 Wholesale bank in Latam: Advisory, Financing and Risk Management Solutions, and access to Capital Markets Only full-service Corporate / Commercial Bank with local presence in all Pacific Alliance countries Enhanced connectivity to rest of Americas, Europe and Asia Top tier lending relationships with local and multi-national corporate clients . Focused on Pacific Alliance expansion and modernization of technology platforms FIBRɅMX $364,000,000 US | Technology nextracker $734,160,000 US Power & Utilities Chile | Metals & Mining US Power & Utilities US Real Estate Mexico | Infrastructure AMERICAN WATER $1,714,075,000 12,650,000 Common Shares Co-Manager February 2023 lundin mining $950,000,000 Acquisition of a 51% stake in the Caserones mine from JX Financial Advisor March 2023 DUKE ENERGY. $1,725,000,000 4.125% Convertible Senior Notes Due 2026 Co-Manager April 2023 Wynn. MACAU $600,000,000 4.500% Convertible Senior Notes Due 2025 Co-Manager March 2023 Initial Public Offering on the Mexican Stock Exchange (BMV) Joint Bookrunner March 2023 Initial Public Offering Joint Bookrunner February 2023 1 For fiscal Q2/2023 43#44Risk Overview 44#45Risk Snapshot RWA BREAKDOWN 1,2 CREDIT EXPOSURE BY COUNTRY 3,4 ■Canada ■ U.S. • BUSINESS AND GOVERNMENT EXPOSURE BY SECTOR 1, 3, 5 Breakdown of Business and Government loans as a percentage of total loans and acceptances4 67% 2% ■ Credit Risk ■ Chile Real Estate and Construction 8.5% 3% 85% ■ Operational Risk 3% $451Bn 3% $770Bn ■ Other International Wholesale and Retail 4.5% 11% ■Market Risk 5% ■Mexico Financial Services 4.2% ■Floor Adjustment 5% 7% ■C&CA Utilities 3.8% 9% ■ Peru Technology and Media 3.4% ■ Colombia Other 3.0% Agriculture 2.3% Canadian Banking 1,2 PERSONAL & COMMERCIAL LENDING International Banking 1,2 Automotive 2.2% Food and Beverage 1.6% Transportation 1.3% Energy 1.2% Health Care 1.0% 73% 5% ■ Secured ■ Secured Sovereign 0.9% $386Bn $82Bn 95% ■ Unsecured ■ Unsecured Mining 0.8% 27% Hospitality and Leisure 0.5% Metals 0.3% Forest Products 0.3% Chemicals | 0.3% 1 As at April 30, 2023; 2 May not add due to rounding; 3% of total loans and acceptances; 3 As at October 31, 2022; 5 See page 18 of the Q2 2023 Financial Supplementary Package 45 45#46Commercial Real Estate Portfolio comprised of Commercial Real Estate, and Construction loans which include project management and trade contractors LOANS OUTSTANDING Q2/22 Q1/23 Q2/23 26.2 24.3 19.9 Total Portfolio: $67.1Bn Y/Y: +27% Q/Q: +6% 11.6 12.4 15.4 16.1 9.5 11.9 4.0 4.3 4.5 3.1 2.9 3.1 4.2 4.8 4.8 Residential/Multi Family REITS Office Retail Industrial Other² BY GEOGRAPHY BY SEGMENT • • HIGHLIGHTS Growth in Real Estate and Construction loans has been primarily from under-supplied sectors (Residential and Industrial), representing 75% of portfolio Exposure is geographically diversified across Canada, PAC, US and other regions, with US exposure largely to investment grade corporate borrowers Industry headwinds continue due to rising interest rate, high inflation and supply constraints which are in part mitigated by long standing relationships to top tier developers with experience managing through cycles Including Office REITs, total exposure to Office subsector was $6.9Bn (10% of portfolio), of which ~2/3rds was investment grade facilities primarily to large, diversified proponents APAC Other 6% 3% US 12% Other 2 Retail 5% Q2/23 Office (including REITS) 7% Canada $4.3 Bn 63% Office 7% APAC 1.2 17% PAC 0.7 10% Residential /Multi US 0.3 4% PAC 13% Q2/23 $67.1 Bn Canada 66% REITS 18% Q2/23 $67.1 Bn Other 0.4 6% Family 39% Total $6.9 Bn Industrial 24% 1 REITs include REITS-Industrial (7%), REITS-Retail (3%), REITS-Residential (3%), REITS-Office (3%) and REITS-Diversified (2%); 2 Other includes Engineering & Project Management and Trade Contractors 46#47Strong Credit Quality GILS ($MM) AND GIL RATIO1 73 bps 67 bps 64 bps 60 bps 58 bps 62 bps 65 bps 67 bps 4,786 18 5,104 18 141 5,305 23 4,735 156 - 28 4,456 235 4,435 - 26 -219 32 4,264- 231 4,252 27 -32 1,157 1,079 168 -130 917 921 941 904 824 771 3,551 3,270 3,268 3,240 3,324 3,695 3,866 4,005 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 HIGHLIGHTS GILs increased $201 million Q/Q ($74 million excluding the impact of foreign exchange) New formations in Retail Banking partially offset a by decrease in Commercial and Corporate GILS 。 International Banking: Higher Q/Q driven by impact of foreign exchange and new retail formations in the Pacific Alliance countries 。 Canadian Banking: Higher Q/Q driven by new retail formations mainly in prime auto and Commercial NET WRITEOFFS ($MM) AND NET WRITE OFFS RATIO 1 • 62 bps 29 bps 29 bps 983 1 8 173 34 bps 27 bps 25 bps 24 bps 21 bps 563 552 560 123 ✓ 8. 457 4 3 462 5 801 139 422 4 144 385 3 184 200 155 132 HIGHLIGHTS Net write-offs decreased 2% Q/Q, continuing to remain below historically low levels in both Canada and International 。 International Banking: Net write-offs were lower Q/Q driven by Commercial portfolios. Retail net write-offs were relatively unchanged Q/Q 。 Canadian Banking: Net write-offs grew Q/Q but remain below historically low levels 435 371 351 311 274 283 302 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 (33) Q4/22 Q1/23 Q2/23 International Banking Canadian Banking Global Banking and Markets Global Wealth Management 1 Refer to page 54 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 47#48Prudent Allowance Build TOTAL ACLS1 ($MM) AND ACL RATIO2 96 bps 86 bps 80 bps 75 bps 72 bps 71 bps 72 bps 75 bps 6,232 22 5,731 5,931 5,583 23 20 5,375 5,295 5,499 5,668 33 1,529 20 28 31 28 1,368 1,326 1,255 1,276 1,368 1,409 1,530 2,009 1,863 1,723 1,595 1,532 1,528 1,547 1,551 2,672 2,477 2,514 2,505 2,459 2,575 2,681 2,817 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 International Retail Canadian Retail ■Business Banking GWM/Other³ TOTAL PCLS ($MM) AND PCL RATIO 4 24 bps 10 bps 13 bps 13 bps 22 bps 28 bps 33 bps 37 bps 709 2 638 -15 53 529 11 218 218 380 69 412 9 163 168 1 93 222 219 339 314 325 355 404 436 274 276 (27) (35) (1) (96) (16) (12) (15) (1) (46) (51) Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 International Banking ■GWM/Other 5 HIGHLIGHTS Allowances increased to $5.9 billion о Prudent performing allowance of $4.2 billion to account for uncertainty in economic outlook Total ACL ratio up 3 bps Q/Q to 75 bps Highly secured retail portfolio (95% in Canada and 73% in International) Quality of the business banking portfolio remained strong with continued focus on investment grade clients HIGHLIGHTS Total PCL ratio of 37 bps, up 4 bps Q/Q Higher performing PCLs driven by less favourable macroeconomic forecast Impaired PCLs driven by higher formations in Canadian and International Retail ■Canadian Banking ■Global Banking and Markets 1 Includes ACLs on off-balance sheet exposures and ACLS on acceptances and other financial assets; 2 ACL ratio defined as period end total ACLs (excluding debt securities and deposits with financial institutions) divided by gross loans and acceptances; 3 Includes Allowance for credit losses in Other of $6 million (Q1/23: $6 million); 4 Refer to page 54 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 5 Includes provisions for credit losses in Global Wealth Management of $2 million (Q3/21: -$1 million, Q4/21: $1 million, Q1/22: -$1 million, Q2/22: $1 million, Q3/22: $5 million, Q4/22: $1 million, Q1/23: $1 million) 48#49Canadian Retail: Loans and Provisions' 0 0 MORTGAGES AUTO LOANS 89 78 39 37 41 39 50 63 65 45 35 01 01 1 31 1 (6) (4) (5) Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 LINES OF CREDIT 3 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 CREDIT CARDS 5 380 357 288 312 244 267 268 234 81 33 41 48 51 48 60 36 204 45 56 58 32 28 (8) (6) 10 241 240 246 116 (84) (55) (59) Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 PCL as a % of average net loans (bps)² Loan Balances Q2/23 Spot ($Bn) % Secured Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 PCLs on Impaired Loans as a % of average net loans (bps)² Mortgages $300 Auto Loans Lines of Credit³ Credit Cards Total 100% $42 100% $35 $7 $386 64% 2% 95%4 1Includes Wealth Management; 2 Refer to page 54 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 3 Includes Home Equity Lines of Credit and Unsecured Lines of Credit; 484% secured by real estate; 11% secured by automotive; 5 Excluding one-time impact of fully provisioned write-offs, Q3/22 PCL ratio on impaired loans is 280 bps 49#50International Retail: Loans and Provisions MARKETS WITH GREATER 329 MEXICO CHILE CARIBBEAN AND CENTRAL AMERICA WEIGHTING 173 158 133 300 ΤΟ 138 129 104 106 111 103 102 62 64 179 62 212 237 67 65 SECURED 51 124 139 154 133 109 119 122 120 102 98 93 91 72 963 78 170 195 58 45 39 133 124 46 108 115 95 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 31 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 62 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 PERU 1,588 COLOMBIA MARKETS WITH 1,194 GREATER WEIGHTING 760 724 ΤΟ UNSECURED 375 492 502 364 353 636 318 534 274 302 307 264 273 352 389 309 329 590 451 307 211 203 287 256 346 317 304 289 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 PCL as a % of average net loans (bps)1 PCLs on Impaired Loans as a % of average net loans (bps)1 Loan Balances Q2/23 Spot ($Bn) Mexico $19 Peru Chile $11 $33 Colombia $6 Caribbean & CA Total² $13 $82 % Secured 89% 42% 79% 38% 76% 73% 1 Refer to page 54 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 2 Total includes other smaller portfolios; 3 Includes benefit of loss sharing agreement with partner related to credit card program 50#51Treasury and Funding 51#52Highlights STRONG LIQUIDITY, STABLE FUNDING ⚫ Strong liquidity well in excess of regulatory requirements o LCR1 of 131%, up 9% Q/Q and up 6% Y/Y o HQLA of $252Bn1, up $22Bn Q/Q and up $38Bn Y/Y, is substantially comprised of Level 1 assets o Pacific Alliance countries LCRs of 123% - 168% • Stability of funding reflected in NSFR² of 111% • 28.3% TLAC³ is above 24.5% regulatory minimum . Stable wholesale funding utilization o Wholesale funding of $312Bn4, down $2Bn Q/Q (-$3Bn money market funding and +$1Bn term funding) and up $30Bn Y/Y 。 Wholesale funding / total assets decreased 10 bps Q/Q to 22.7%, from 22.8% o Wholesale funding / total assets remains below pre-pandemic levels 1 This measure has been disclosed in this document in accordance with OSFI Guideline - Public Disclosure Requirements for Domestic Systemically Important Banks on Liquidity Coverage Ratio (April 2015); 2 This measure has been disclosed in this document in accordance with OSFI Guideline - Public Disclosure Requirements for Domestic Systemically Important Banks on Net Stable Funding Ratio Disclosure Requirements (January 2021); 3 This measure has been disclosed in this document in accordance with OSFI Guideline - Public Disclosure Requirements for Domestic Systemically Important Banks on Total Loss Absorbing Capacity (TLAC) (September 2018); 4 As of April 30, 2023 52 52#53Funding Strategy DIVERSIFIED FUNDING SOURCES • Increase contribution from customer deposits . • . • Manage prudent level of wholesale funding utilization and TLAC² Maintain balance between efficiency, stability of funding and pricing relative to peers Diversify funding by type, currency, program, tenor and source/market Utilize a centralized (head office managed) funding and associated risk management approach FUNDING PROGRAMS 1 Global Registered Covered Bond Program (uninsured Canadian mortgages) Limit CAD 100 billion US Debt & Equity Shelf (senior/subordinated debt, preferred and common shares) Limit USD 50 billion EMTN Shelf Limit USD 30 billion CAD Debt & Equity Shelf (senior/subordinated debt, preferred and common shares) Limit CAD 15 billion START ABS program (indirect auto loans) Limit CAD 15 billion Australian MTN program Limit AUD 8 billion Singapore MTN program Limit USD 12 billion Halifax ABS program (unsecured lines of credit) Limit - CAD 7 billion Principal at Risk (PAR) Note shelf Limit - CAD 15 billion Trillium ABS program (credit cards) Limit - CAD 5 billion USD Bank CP Program Limit USD 35 billion 1 In addition to the programs listed, there are also USD senior private placements and CD programs in the following currencies: Yankee/USD, EUR, GBP, AUD, HKD; 2 This measure has been disclosed in this document in accordance with OSFI Guideline - Public Disclosure Requirements for Domestic Systemically Important Banks on Total Loss Absorbing Capacity (TLAC) Requirements (September 2018) 53#54Wholesale Funding 12% Senior Notes WHOLESALE FUNDING MIX 1,6,7 25% Bail-inable Notes Asset-Backed Commercial Paper³ 3% $312Bn 31% Bearer Deposit Notes, Commercial Paper & Short-Term Certificate of Deposits 1% Asset-Backed Securities 2% Deposits from Banks² TERM FUNDING MATURITY TABLE (EXCLUDING SUB DEBT AND MORTGAGE SECURITIZATION) (CANADIAN DOLLAR EQUIVALENT, $Bn) 16% Covered Bonds 7% Mortgage Securitization4 3% $41 4 1 36 36 $357 $33 $28 5 15 1 9 19 $18 $12 10 10 20 20 6 1 00 8 5 24 27 Subordinated Debt5 < 1 Year 2 Years 3 Years 4 Years 5 Years >5 Years Senior Debt ABS Covered Bonds 1 Excludes repo transactions and bankers' acceptances, which are disclosed in the contractual maturities table in the MD&A of the Interim Consolidated Financial Statements. Amounts are based on remaining term to maturity; 2 Only includes commercial bank deposits raised by Group Treasury; 3 Excludes asset-backed commercial paper (ABCP) issued by certain ABCP conduits that are not consolidated for financial reporting purposes; 4 Represents residential mortgages funded through Canadian Federal Government agency sponsored programs. Funding accessed through such programs does not impact the funding capacity of the Bank in its own name; 5 Although subordinated debentures are a component of regulatory capital, they are included in this table in accordance with EDTF recommended disclosures; 6 As per Wholesale Funding Sources Table in MD&A, Q2/23 Report to Shareholders; 7 May not add due to rounding. 54#55Deposit Growth REPORTED AVERAGE DEPOSITS BY SEGMENT in billions CB ■IB ■GBM ■GWM 666 679 624 592 538 Q2/23 REPORTED AVERAGE DEPOSIT MIX Notice - Business 7% Term - Business 21% Demand- Personal 2% 328 337 308 295 261 Demand Q2/23 $679 Bn 119 126 Business 31% 107 104 111 156 170 185 182 134 32 37 39 34 2020 2021 2022 Q1/23 34 Q2/23 in billions REPORTED AVERAGE DEPOSITS BY BUSINESS LINE Term - Personal 17% Notice - Personal 22% IB (Constant FX): +10% Y/Y GLOBAL BANKING AND MARKETS1 GLOBAL WEALTH MANAGEMENT CANADIAN BANKING INTERNATIONAL BANKING1 Y/Y +11% Y/Y +19% Y/Y +11% Y/Y -13% 328 337 119 126 302 106 116 118 39 112 34 34 79 85 185 182 17 70 164 16 16 190 212 219 22 36 40 41 222 18 18 Q2/22 Q1/23 Q2/23 Q2/22 Q1/23 Q2/23 Q2/22 Q1/23 Q2/23 Q2/22 Q1/23 Personal Q2/23 Non-Personal 1 Includes deposits from banks 55#56Q1/20 Q2/20 Q3/20 Q4/20 23.5% Wholesale Funding Utilization WHOLESALE FUNDING / TOTAL ASSETS 22.8% 21.3% 21.2% 22.7% 21.9% 21.6% 20.9% 18.9% 17.7% 16.9% 18.9% 17.6% 17.1% Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 35.5% 36.4% 38.7% 31.2% 31.8% 29.8% 26.1% 35.7% 33.7% 33.8% 31.1% 21.8% 27.4% • HIGHLIGHTS Wholesale funding utilization continues to be well managed Wholesale funding / total assets remains below pre- pandemic levels MONEY MARKET FUNDING/TOTAL WHOLESALE FUNDING 44.7% • HIGHLIGHTS Money Market Funding/Wholesale Funding remains below pre-pandemic levels Prudent utilization of short-term funding Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 56#57Key Liquidity Metrics LIQUIDITY COVERAGE RATIO (LCR) 1 129% 124% 125% 123% 123% 122% 122% 119% 131% . Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 HIGH QUALITY LIQUID ASSETS (HQLA) 2 $252 $230 $214 $211 $213 $201 $205 $195 $198 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 NET STABLE FUNDING RATIO (NSFR) 3 112% 112% 111% 111% 110% 109% 109% 109% 108% Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 HIGHLIGHTS Liquidity well in excess of regulatory requirements LCR of 123% - 168% in Pacific Alliance countries HIGHLIGHTS Substantially comprised of Level 1 assets +$22Bn Q/Q and +$38Bn Y/Y HIGHLIGHTS • NSFR is well in excess of 100% regulatory requirement 1 This measure has been disclosed in this document in accordance with OSFI Guideline - Public Disclosure Requirements for Domestic Systemically Important Banks on Liquidity Coverage Ratio (April 2015); 2 In billions; 3 This measure has been disclosed in this document in accordance with OSFI Guideline - Public Disclosure Requirements for Domestic Systemically Important Banks on Net Stable Funding Ratio Disclosure Requirements (January 2021) 57 57#58Appendix 1 Core Markets: Economic Profiles#59Economic Outlook in Core Markets REAL GDP (ANNUAL % CHANGE) Forecast¹ Country 2010-20 Average 2021 2022 2023 2024 Full Full Q1E Q2F Q3F Q4F Q1F Q2F Q3F Q4F Year Year Canada² 1.6 5.0 3.4 2.1 1.1 0.3 0.5 1.0 0.1 0.7 1.5 2.1 1.1 U.S. 1 1.8 5.9 2.1 1.6 1.9 1.0 0.3 1.2 Mexico 1.7 4.7 3.1 3.9 1.7 17 0.6 0.3 10 0.1 0.2 0.8 1.5 0.6 16 1.6 0.1 10 0.2 1.9 3.0 1.3 Chile 2.5 11.7 2.4 (0.6) (1.4) (1.0) 0.0 (0.8) 1.7 2.8 2.9 3.9 2.8 Peru 3.1 13.3 2.7 (0.4) 3.0 224 2.1 2.4 1.9 =1 19 3.1 2.0 1.5 21 2.1 2.2 Colombia 2.7 11.0 7.3 3.0 0.5 0.6 1.5 1.5 2.6 2.7 2.4 2.4 2.5 PAC Average 2.5 10.2 3.9 1.5 1.0 10 0.6 11 1.1 1.1 1.9 1.9 19 2.2 2.9 2.2 1 Source: Scotia Economics. US and Canada forecast as at May 18, 2023, Pacific Alliance countries forecast as at May 19, 2023; 2 Q1/23 GDP data for Canada is an estimate as of May 18, 2023 59#60Pacific Alliance: Economic Outlook and Election Calendar MOST PACIFIC ALLIANCE ECONOMIES ARE RECOVERING 1 120 115 Real GDP, index Q4-2019=100, 4-qtr. rolling sum 110 105 100 95 90 85 2020 2021 2022 Chile Colombia Chile Peru Mexico Colombia Jan-April 2023 2023 2024 - Mexico - Peru ELECTIONS IN THE REGION May-Aug 2023 Gubernatorial (2 States) June 2023 Sep-Dec 2023 Constitutional Referendum December 2023 Regional & Municipal October 29, 2023 2024 Mayors and Regional Governors October 2024 No elections are on the calendar until 2026 General Elections (President, 9 States, Congress) June 2024 1 Sources: Scotiabank Economics, Haver Analytics. Forecasts for PAC countries as of the May 19, 2023 Scotiabank Economics Latam Weekly 60#61Interest Rate Sensitivity NET INTEREST INCOME SENSITIVITY Impact of an immediate and sustained 100 bps parallel shift on net interest income (NII) over a 12-month period +100 bps: $46 million decrease in NII -100 bps: flat POLICY RATE CHANGE AND OUTLOOK Policy Rate Change by BNS Fiscal Quarters (bps)² Forecast Current Policy Rate rate on QTD Country Canada US Oct 31/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 0.25% +75 +150 +125 +75 0.25% Policy Rate 4.50% for Mar 31/243 4.00% +25+200 +75 +125 +50 +25 5.25% 4.25% Above estimates assume a static balance sheet and no management actions¹ • During the quarter, the Bank reduced sensitivity to protect from rates remaining higher for longer Significant NII benefit if market implied forward rates are realized Mexico Colombia Peru Chile 4.75% +75 +100 +125 +150 +125 +75 2.50% +150 +200 +300 +200 +175 +50 1.50% +150 +150 +150 +100 +75 2.75% +275 +150 +275 +150 11.25% 9.25% 13.25% 8.25% 7.75% 11.25% 4.00% 6.25% HISTORICAL INTEREST RATE ENVIRONMENT AND OUTLOOK 2 Canada & US (%) 6.0 13.0 5.0 11.0 4.0 9.0 3.0 7.0 2.0 5.0 1.0 0.0 3.0 Apr-22 Oct-22 Apr-23 Oct-23 Apr-24 Apr-22 BoC Overnight Rate Fed Funds Rate CAD 5-Yr Swap Rate USD 5-Yr Swap Rate Mexico & Chile (%) Oct-22 Apr-23 Bank of Mexico Overnight Rate Bank of Chile Monetary Policy Rate Oct-23 MXN 5-Yr Swap Rate - CLP 5-Yr Swap Rate Apr-24 1Additional detail regarding non-trading interest rate sensitivity can be found on page 38 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com; 2 As of May 18, 2023; 3 Source: Scotia Economics forecast as of May 18, 2023 19 61#62Slowing Growth, Nearing End of Policy Tightening Cycle With inflation at multi-decade highs in several economies, central banks have significantly increased their policy rate since last year to re-align demand with supply and reduce inflation. While there are increasing signs that some drivers of inflations are slowing with improved supply chain conditions, lower commodity prices and transportation costs, and healthier inventory levels, inflation remains elevated in a broad range of countries as these disinflationary pressures are partly offset by strong consumption and robust wage growth, consistent with currently tight labour market conditions. While we still expect economic growth to slow meaningfully in 2023, with mild recessions in Canada and the U.S., the global economy remains resilient to the broad range of headwinds that would normally slow economic activity, including rapid rate hikes and tensions in the U.S. banking system. Against this backdrop, inflation is slowing less rapidly than forecast in Canada and the U.S. Many central banks are at the end or nearing the end of their tightening cycles, but cuts to policy rates are unlikely this year and expected in 2024. After holding its policy rate at 4.50% since January 2023, we now expect the Bank of Canada to raise it to 4.75% accompanied by an ongoing bias that is prepared to do more as needed, owing to the persistence of inflation and signs of a sharp improvement in housing markets. Meanwhile, the Federal Reserve may be closer to being done raising its policy rate as it evaluates whether sticky inflation merits additional tightening as banking tensions lead to modest drag on lending and growth and is expected to undertake a series of gradual rate cuts commencing early 2024. The ECB and Bank of England face further tightening ahead and the Bank of Japan is a wildcard under new Governor Ueda. Inflation remains more challenging in the Pacific Alliance Countries as central banks have had to tighten more than expected to subdue it. As in many other countries, regional central banks are either done or nearly done raising rates. CANADA: BANK OF CANADA POLICY RATE VS HEADLINE INFLATION 1 CANADA UNEMPLOYMENT RATE 1 PAC UNEMPLOYMENT RATES 1 25 %, SA PAC INFLATION 1 6 87 % Headline 6 inflation 5 4 3 2 16 % forecast 14 12 10 8 6 16 y/y % change 14 Chile 20 Colombia 12 Chile Mexico Colombia Peru Mexico Peru 10 15 10 5 8 642 0 -2 -1 Policy rate 2 0 -4 15 16 17 18 19 20 21 22 23 2010 2012 2014 2016 2018 2020 2022 18 19 20 21 22 23 24 2006 2010 2014 2018 2022 1 Sources: Scotiabank Economics, Bank of Canada, Statistics Canada, Haver Analytics. 62 L 4#63% OF GDP Canadian Economy GDP 2022: 3.4% CANADIAN GDP BY INDUSTRY GDP 2023F: 1.0% GDP 2024F: 1.1% 20.2% Finance, Insurance, & Real Estate 14.8% Other 4.1% Transportation & Warehousing 6.6% Professional, Scientific, & Technical Services 7.0% 2.08T CAD2012, SAAR (Feb 2023) Public Administration 12.7% Health & Education 10.3% Wholesale & Retail Trade 7.4% Construction 9.4% Manufacturing 7.5% Mining and Oil & Gas Extraction GENERAL GOVERNMENT NET DEBT 2 -2 ■2022 ■2023F -4 163 161 -6 133 129 -8 92 95 94 96 99 99 82 83 -10 14 14 45 47 02 0 ANNUAL % CHANGE (0.7) (0.4) (2.6) REAL GDP GROWTH 1 U.S. Canada Eurozone U.K. Japan 2010-2019 2022E-2024F Avg. GOVERNMENT FINANCIAL DEFICITS 3 (6.3) (6.3) (5.8) (4.9) (5.3) -12 CA GE U.K. Adv. Econ. U.S. FR IT JN % OF GDP CA 2022 ■2023F GE Adv. U.S. U.K. FR IT JN Econ. 1 Sources: Scotiabank Economics, Haver Analytics, Statistics Canada. Forecasts as of May 18, 2023; 2 Sources: IMF Apr 2023 Fiscal Monitor. Calendar years shown; 3 Scotiabank Economics, IMF Apr 2023 Fiscal Monitor, CBO. Calendar years shown. 63 (8.0) (7.8) (3.7) (6.4)#64Public Debt Ratios in G7 Markets G7 GOVERNMENT GROSS DEBT1 300 % of GDP 250 200 150 100 50 0 06 07 08 09 10 11 Canada (AAA) Japan (A+) 180 % of GDP 160 140 120 100 ༅ ༅ ¥ ཤྩ ཎྜ ྨ ¥ °° 80 60 20 1 Sources: Scotiabank Economics, IMF, Standard & Poor's; 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 - France (AA) UK (AA) Germany (AAA) U.S. (AA+) G7 GOVERNMENT NET DEBT 1 Italy (BBB) 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Canada (AAA) Japan (A+). France (AA) UK (AA) Germany (AAA) U.S. (AA+) Italy (BBB) 64#65Mexican Economy SOLID MIX OF SECTORS 1 GDP 2022: 3.1% GDP 2023F: 1.6% GDP 2024F: 1.3% MEXICAN GDP BY INDUSTRY 2,3 16.4% Finance, Insurance, & Real Estate 6.0% Health & Education 18.4% • • Services and consumption are increasingly contributing to the domestic economy's recovery Trade with the U.S. is leading growth, but Mexico's diversification agenda is also underpinned by 13 free-trade agreements with 50 countries that account for 43% of global GDP and include all G7 countries Nearshoring optimism provides opportunities to specific exports- oriented sectors and regions 14.7% Other 3.5% Natural Resources 18.56T, MXN2013 SAAR (Q4-2022) 6.7% Transportation & Warehousing 2.0% Professional, 3.9% Scientific, & Technical Services Public Administration Wholesale & Retail Trade 16.6% Manufacturing 5.9% Mining and Oil & Gas Extraction 6.0% Construction CONTRIBUTIONS TO MEXICAN GDP GROWTH 3,4 TOP TRADING PARTNERS 5 Other* Inventories Government Real GDP Net Exports Investment Consumption A 24 20 16 12 D∞ 4 y/y % change 8 -4 -8 -12 -16 -20 18 19 20 21 22 Germany 2% South Korea 3% Canada 4% China 11% Others 22% United States 58% 1 Sources: Scotiabank Economics, Bloomberg, as of May 18, 2023; 2 Q1-2023 real GDP growth 3.9% y/y. Industry GDP breakdown is not yet available for Q1-2023; 3 Sources: Scotiabank Economics, Haver Analytics; 4Q1-2023 real GDP growth 3.9% y/y. National accounts breakdown not yet available for Q1-2023; 5 Trade data updated as of Q4-2022 65 59#66Chilean Economy GDP 2022: 2.4% HIGHLIGHTS 1 GDP 2023F: -0.8% GDP 2024F: 2.8% CHILEAN GDP BY INDUSTRY 2 14.8% Finance, Insurance, & Real Estate 3.8% Natural Resources 9.6% Wholesale & Retail Trade 8.9% Manufacturing • Advanced economy with wide-ranging trade links Chile's mix of economic activities reflects its status as an advanced OECD economy Chile's diversified trading relationships are supported by 30 free-trade agreements with 70 countries that account for 88% of global GDP Consumption has reduced its contribution to GDP growth in the absence of new pension fund withdrawals and universal fiscal transfers 10.1% Other 1.9% Restaurants & Hotels CONTRIBUTIONS TO CHILEAN GDP GROWTH 2 40 40 30 20 y/y % change Net Exports Investment. Consumption 10 10 0 -20 10 -10 Inventories Government Real GDP 50.88T CLP2018 SA (Q4-2022) 8.0% Transportation & Warehousing 21.3% Housing & Personal Services 10.9% Mining and Oil & Gas Extraction 6.0% Construction 4.8% Public Administration TOP TRADING PARTNERS 3 Others 36% China 31% South Korea 4% Japan 6% United States Brazil 7% 16% -30 18 19 20 21 22 1Sources: Scotiabank Economics, Bloomberg, as of May 18, 2023; 2 Sources: Scotiabank Economics, Haver Analytics; 3 Trade data updated as of Q4-2022 66 99#67Peruvian Economy HIGHLIGHTS 1 GDP 2022: 2.7% GDP 2023F: 1.9% GDP 2024F: 2.2% PERUVIAN GDP BY INDUSTRY2 12.6% Manufacturing 12.4% . Growth could continue to be driven by exports Mining, Oil, & Gas • Economics fundamentals and balances remain strong 11.0% • State management has improved . Business confidence is improving in line with a sense of greater political stability Wholesale & Retail Trade 148.86Bn PEN2007 NSA (Q4-2022) 8.1% Construction 1.9% • Risk 2024: El Niño extreme weather event Electricity & Water Other 50.7% 6.0% Natural Resources CONTRIBUTIONS TO PERUVIAN GDP GROWTH 2 TOP TRADING PARTNERS ³ 50 y/y % change 40 30 20 10 10 o -10 -20 -30 -40 18 Net Exports Investment Inventories Government Consumption Real GDP 19 20 21 22 22 Others 46% China 25% T United States 18% Brazil 3% Canada 4% Japan 4% 1 Sources: Scotiabank Economics, Bloomberg, as of May 18, 2023; 2 Sources: Scotiabank Economics, Haver Analytics; 3 Trade data updated as of Q4-2022 67 62#68Colombian Economy • • STRONG UNDERLYING MOMENTUM 1 GDP 2022: 7.3% GDP 2023F: 1.5% COLOMBIAN GDP BY INDUSTRY 2 GDP 2024F: 2.5% 13.7% Finance, Insurance, & Real Estate 10.1% 4.3% Arts & Entertainment 18.0% Wholesale, Retail Trade, Accommodation & Food Services 11.9% Manufacturing Economic activity is showing a healthy slowdown in private demand. However, the slowdown is more moderate. High remittances are contributing to complementing households' income Inflation reached a peak in April, which affirms the thesis that BanRep is closer to the end of the policy rate hiking cycle. Not only has headline inflation diminished, but also core inflation showed signals of stability Checks and balances are working in the discussion of the social reform agenda. The government has a willingness to negotiate more moderate initiatives with congress. On the other side, fiscal sustainability remains the main commitment of the government Other 5.6% Natural Resources 3.2% Information & Communication 246.32 tn COP2015 SWDA (Q4-2022) 6.9% Professional, Scientific, 6.6% Mining and Oil & Gas Extraction 4.4% Construction 15.3% & Technical Services Public Administration CONTRIBUTIONS TO COLOMBIAN GDP GROWTH 2 y/y % change Other* Investment Consumption Net Exports Government Real GDP 15 10 2505052525 -5 -10 -15 20 21 22 22 TOP TRADING PARTNERS 3 United Others States 43% 25% China 18% India 3% Brazil 6% Mexico 5% * Statistical discrepancy, subject to revision 1 Sources: Scotiabank Economics, Bloomberg, as of May 18, 2023; 2 Sources: Scotiabank Economics, Haver Analytics; 3 Trade data updated as of Q4-2022 18 19 68 80#69Appendix 2 Canadian Economic Fundamentals#70Canada: Consumer and Business Activity GDP TRENDING UPWARD DESPITE STALLING IN 110 Index, 2019Q4 = 100 105 Jan 13, 2020 forecast 100 95 90 90 85 80 19Q4 20Q1 20231 BUSINESS CONFIDENCE CFIB BUSINESS BAROMETER 2 80 index, 50 stronger 70 60 May 18, 2023 forecast 50 20Q2 20Q3 20Q4 21Q1 index, Feb 2020 levels = 100 21Q2 21Q3 KEY ECONOMIC INDICATORS 3 21Q4 22Q1 22Q2 22Q3 22Q4 23Q1 23Q2 23Q3 23Q4 24Q1 24Q2 24Q3 24Q4 Feb-20 Apr-20 Jun-20 Aug-20 100 160 × 6 8 8៩ ៩ ៩ ៖ Auto Sales ⚫ Mfg Shipments Exports Oct-20 Dec-20 Feb-21- Apr-21- Jun-21- Aug-21- Oct-21- Dec-21- Feb-22 Apr-22- Jun-22 Housing Starts Retail Sales 40 40 30 3-month moving average 6-month moving average Avg. 2011-present Headline index 20 11 12 13 14 15 16 17 18 19 20 21 22 23 110 Feb. 2020 100 105 18 100 95 Aug-22 Oct-22- Dec-22 Feb-23 Apr-23 Employment Manufacturing PMI 90 85 8 1080 80 LABOUR MARKET RECOVERY 1 Feb-20 Apr-20 Jun-20 Aug-20 Oct-20 Dec-20 Feb-21 Apr-21 Jun-21 1 Sources: Scotiabank Economics, Statistics Canada; 2 Sources: Scotiabank Economics, CFIB; 3 Sources: Scotiabank Economics, Bloomberg Canada Jobs Aug-21 Oct-21 +41K Jobs in Apr. 2023 Dec-21 Feb-22 Apr-22 Jun-22 Aug-22 Oct-22 Dec-22 Feb-23 Apr-23 70 0#71Canada: Demographics and Housing Market POPULATION GROWTH REBOUNDING 1 PERMANENT RESIDENTS DRIVING UP POPULATION 2 Canada United States 600 000s 3.0 Proposed Immigration annual % change 2.5 • Euro Area Japan France United Kingdom Italy 500 2.0 400 Annual Average Immigration 1.5 300 1.0 200 0.5 0.0 100 -0.5 0 70s 80s 90s 00s 17 18 19 20 21 22 23 24 25 -1.0 08 09 10 11 12 13 14 15 16 17 18 19 20 21 21 22 23 CANADIAN RESIDENTIAL HOUSING INVENTORY 3 HOUSING SUPPLY STILL TIGHT IN KEY MARKETS 4 12 months of inventory, SA 10 8 16 4 Toronto Vancouver 18 8 units per 10,000 pop., end of period units per 10,000 pop., end of period Multi-Unit 16 | Multi-Unit 14 Single-Detached 6 Single-Detached 22 12 2002-20 10 average 4 1992-2020 8 average 2 2 60 st 4 2 0 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 0 92 96 00 04 08 12 16 20 02 04 06 08 10 12 14 16 18 20 1 Sources: Scotiabank Economics, Haver Analytics; 2 Sources: Scotiabank Economics, Statistics Canada, Ministry of Immigration, Refugees & Citizenship Canada; 3 Sources: Scotiabank Economics, Statistics Canada; 4 Sources: Scotiabank Economics, Statistics Canada, CMHC 71#72Canada: Growth in Household Credit HIGHLIGHTS Household credit growth picked up rapidly throughout 2021 and into 2022, peaking at 9.1% y/y in spring 2022 (but lower than its previous 2007 peak of 13.4%). It has since slowed with recent figures at 6.2% y/y for the rolling quarter ending in Feb. 2023. Consumer loans excluding mortgages (i.e., cards, HELOCs, unsecured lines, auto loans, etc.) grew by 4.6% y/y for the rolling quarter ending Feb. 2023. While consumer loan growth has not slowed in line with household credit and residential mortgage growth, signs of potential slowing are emerging as of late. Mortgage credit grew at 6.5% y/y in the rolling quarter ending Feb. 2023 (vs the 2007 peak of 14.0% y/y). Mortgage growth is slowing amidst higher rates. HOUSEHOLD CREDIT GROWTH1 CONSUMER LOAN GROWTH1 MORTGAGE GROWTH 1 16 %, 3-month moving average 14 12 12 10 y/y % change 8 6 30 %, 3-month moving average 20 10 10 о -10 -20 16 %, 3-month moving average 14 y/y % 12 change 10 y/y % change m/m% change, SA 8 6 4 T m/m% change, SA 01 03 05 07 09 11 13 15 17 19 21 23 2 0 T -30 01 03 05 07 09 11 13 15 17 19 21 23 0 01 03 05 07 09 11 13 15 17 19 21 23 4 m/m% change, 2 SA 1 Sources: Scotiabank Economics, Statistics Canada 72#73Canada: Housing Finances MORE THAN HALF OF CANADIAN HOUSEHOLDS DON'T HAVE A MORTGAGE OR HELOC 1 5 YEAR MORTGAGE RATES RESETTING HIGHER 45 % of households (2020 est.) 40 with HELOC 35 11.5 30 25 1.9 20 15 29.1 10 5 0 Owned dwelling w/ mortgage Owned dwelling w/o mortgage Rented 200 5-year difference, basis points 150 100 50 0 -50 32.8 -100 24.3 -150 -200 15 16 17 18 HIGHER HOME EQUITY IN CANADA 2 forecast* 19 21 22 23 20 24 *Based on Scotiabank Economics forecast of 5-year government of Canada bond yields and historical spreads between the conventional 5-year mortgage rate and the GoC 5-year bond yield. Sources: Scotiabank Economics, Bank of Canada. CANADIAN MORTGAGE DELINQUENCIES DECLINING 3 80 equity as % of real estate assets 75 10 Official (excl. HELOCs) % of total loans past due three or more months 8 U.S.+foreclosures 70 Cda estimate incl. HELOCs 65 U.S. estimate with NFPS 6 01 excl. HELOCS 60 4 U.S. 55 Official FRB with NFPs 50 (incl. HELOCs) 2 45 Canada 40 40 96 32 92 94 96 98 00 02 04 06 08 10 12 14 16 18 20 20 22 92 94 96 98 00 02 04 06 08 10 12 14 16 18 20 22 1 Sources: Scotiabank Economics, Mortgage Professionals Canada; 2 Sources: Scotiabank Economics, OSFI, FCAC, Statistics Canada, Federal Reserve Board; 3 Sources: Scotiabank Economics, MBA, CBA. 73#74Canada: Household Finances HOUSEHOLD SAVINGS RATIO CONVERGING TO HOUSEHOLD CREDIT-MARKET DEBT ABOVE PRE- PRE PANDEMIC AVERAGE 1 PANDEMIC 2 30 % of disposable income, SAAR 25 25 20 20 15 10 10 5 0 -5 92 22 سبد 200 % of disposable income, SAAR 180 160 140 120 100 Adjusted Canadian -----Official Canadian 80 Official U.S. 94 96 98 00 02 04 06 08 10 12 14 16 18 20 22 60 92 94 96 98 00 02 04 06 08 10 12 14. 16 18 20 22 RATIO OF HOUSEHOLD ASSETS TO LIABILITIES FALLING 3 HOUSEHOLD DEBT SERVICE RATIOS TEMPERED 1 - 750 % 700 650 600 550 o 500 16 % of disposable income, SAAR 14 Canada 12 10 8 Debt service ratio 6 (interest only) U.S. 4 Debt service ratio (principal and interest) 450 Debt service ratio (principal only) 400 2 350 0 92 94 96 98 00 02 04 06 08 10 12 14 16 18 20 22 22 92 94 96 98 00 02 04 06 08 10 12 14 16 18 20 22 1 Sources: Scotiabank Economics, Statistics Canada; 2 Sources: Scotiabank Economics, Statistics Canada, BEA, Federal Reserve Board; 3 Sources: Statistics Canada, Federal Reserve Board 74#75Appendix 3 Bail-in and TLAC#76Canadian Bail-in Regulations: Key Features BEST IN CLASS APPROACH Post September 23, 2018, senior unsecured debt issued by Canadian DSIBS that is subject to bail-in is the only format of issuance available¹ and is a single class of debt2 that is not subordinated to another class of wholesale senior debt • Canadian bank term senior unsecured debt is not structurally, statutorily or contractually subordinated to another class of senior liabilities and therefore ranks equally to deposits and other senior liabilities in liquidation • Canada utilizes a statutory bail-in regime where, unlike the contractual regime of Canadian NVCC capital instruments, bail-in conversion terms are not prescribed. CDIC retains flexibility to exercise the bail-in power in a manner that is appropriate given the circumstances at the time and subject to certain parameters • In the remote event of non-viability, the no creditor worse off principle ensures that bailed-in senior creditors do not incur greater losses through resolution than liquidation. The CDIC compensation regime floors recovery at the liquidation value • The bail-in regime provides for a relative hierarchy of claims. Creditors receive common shares in accordance with their relative rankings 1 Excludes structured notes as defined in section 2(6) of the Bank Recapitalization (Bail-in) Conversion Regulations under the CDIC Act; 2 Ranks pari passu with other forms of senior debt, except as otherwise prescribed by law and subject to the exercise of bank resolution powers 70 76#77Canadian Bail-in Regulations: Jurisdictional Comparison Best in class approach K Instrument type Opco senior Holdco senior Holdco senior¹ Holdco senior Opco non- preferred senior Ranking in Liquidation Pari passu with deposits and other senior liabilities Structural subordination² Structural subordination² Structural subordination² Contractual subordination² Senior Deposits Other senior liabilities debt subject to Subordination schematic bail-in Depositor preference Participation in equity post resolution Acceleration rights upon failure to pay principal and interest Capital Deposits Opco senior / senior preferred / other senior liabilities Holdco senior / senior non-preferred Capital No Yes Yes Yes Yes Conversion to equity of the bank or an affiliate allows participation in the upside, if any³ N/A4 Uncertain given possibility of writedown Uncertain given possibility of writedown Uncertain given possibility of writedown Yes Yes Yes Yes No 5 1Applicable in practice for G-SIBs' issuance of non-capital bail-in debt; 2 Approach applicable to G-SIBS in relevant jurisdictions. Additionally, Switzerland uses structural subordination, Germany uses statutory subordination, Spain uses contractual subordination; 3 Assuming only bail-in is triggered. If other resolution powers are exercised, debt holders could be exposed to losses in a manner similar to a write-down of their claims; 4 No bail-in power. In resolution, debtholders could potentially receive partial recoveries (analogous to a write-down) or have their claims satisfied through the issuance of new securities (analogous to a bail-in conversion); 5 The terms of senior non-preferred do not include acceleration rights upon failure to pay principal and interest; however, there is no statutory restriction in this regard. Once resolution proceedings are underway, holders may declare an event of default for failure to meet payment obligations 77#78Summary of Bail-in / TLAC Regime Scope Scope of bail-in instruments Liabilities excluded from bail-in TLAC compliance date TLAC requirement TLAC eligibility Grandfathering Sequencing and preconditions Form of bail-in DSIB disclosure requirements OSFI designated DSIBS Senior unsecured debt that is tradeable and transferable, original term >400 days, unsecured and issued, originated or renegotiated after September 23, 2018 Insured deposits, uninsured deposits, debt with original term < 400 days, ABS / covered bonds, structured notes², derivative liabilities, other liabilities November 1, 2021 24.5% minimum risk-based TLAC ratio as of February 1, 2023 (21.5% plus a 3% Domestic Stability Buffer) 7.25% minimum TLAC leverage ratio Regulatory capital³ + bail-in debt with remaining term to maturity > 1 year4 All senior instruments issued prior to September 23, 2018, are not subject to bail-in unless renegotiated 1. Federal authorities bring bank into resolution 2. Full conversion of bank's NVCC instruments must occur prior to or concurrently with bail-in Equity conversion . • Include disclosure related to the conversion power in any agreement governing an eligible liability as well as any accompanying offering document Include a clause in the contractual provisions governing any eligible liability through which investors provide express submission to the Canadian bail-in regime TLAC and TLAC leverage ratios are disclosed in the Bank's Quarterly Report and Supplementary Regulatory Capital Disclosures HIGHLIGHTS Bail-in is not the only path in Canada to resolve a failing bank. Canadian authorities retain full discretion to use other powers including "vesting order", "receivership order”, “bridge bank resolution order”, etc. Equity conversion under the Canadian bail-in regime has the potential to result in realizable value in excess of principal amount 1 Yankee CD's with original term > 400 days are in-scope of bail-in; 2 As per definition of structured notes in section 2(6) of the Bank Recapitalization (Bail-in) Conversion Regulations under the CDIC Act; 3 Adjusted to fully include subordinated debentures with a remaining term of one to five years; 4 Provided such bail-in debt meets certain other requirements 78#79Appendix 4 Covered Bonds#80Global Registered Covered Bond Program • • HIGHLIGHTS Able to issue across multiple currencies such as CAD, USD, EUR, GBP, AUD, CHF and NOK CAD$52.9 billion outstanding1 vs. $100 billion program size² • Extensive regulatory oversight and pool audit requirements • Mandatory property value indexation • CMHC prescribed disclosure requirements • Program carries the ECBC Covered Bond Label Issuer Guarantor Guarantee Status Program Size Ratings Cover Pool Asset Percentage Law Issuance Format The Bank of Nova Scotia Scotiabank Covered Bond Guarantor Limited Partnership Payments of interest and principal in respect of the covered bonds are irrevocably guaranteed by the Guarantor. The obligations under the Covered Bond Guarantee constitute direct obligations of the Issuer and are secured by the assets of the Guarantor, including the Portfolio. The covered bonds will constitute legal, valid and binding direct, unconditional, unsubordinated and unsecured obligations of the Bank and will rank pari passu with all deposit liabilities of the Bank without any preference among themselves and at least pari passu with all other unsubordinated and unsecured obligations of the Bank, present and future. CAD $100 billion² Aaa/AAA/AAA (Moody's / Fitch / DBRS) First lien uninsured Canadian residential mortgage loans with LTV limit of 80% 94.8% Ontario, Canada 144A/Reg S (UKLA Listed) 1 As at April 30, 2023, based on foreign exchange at time of issuance; 2 Effective April 6, 2021, OSFI limit for issuance is 5.5% of Total Assets 80#81Global Registered Covered Bond Program' LOAN-TO-VALUE RATIOS2 CREDIT SCORES 3 42% 75% 28% 21% 14% 4% 7% 5% <1% 1% 3% 0-20% 20-40% 40-60% 60-80% 80+% <599 600-650 651-700 701-750 751-800 800+ REMAINING TERM DISTRIBUTION (MONTHS) 7.6% Alberta 0.1% Territories 1.6% Saskatchewan PROVINCIAL DISTRIBUTION 26% 20% 18% $81Bn 14% 12% 9% 4.8% Quebec 0.2% <12 12-23.99 24-35.99 36-41.99 42-47.99 48+ P.E.I. 59.3% Ontario 22.4% British Columbia 0.9% Manitoba 0.7% New Brunswick 0.9% Newfoundland 1.5% Nova Scotia 1 As at April 30, 2023. Distribution presented is based on Principal Balance. Charts may not add due to rounding; 2 Uses indexation methodology as outlined in Footnote 1 on page 3 of the Scotiabank Global Registered Covered Bond Monthly Investor Report; 3 Excludes unavailable credit scores 81#82Canadian Legislative Covered Bonds CMHC REGISTERED Canadian Registered Covered Bond Programs' Legal Framework (Canadian National Housing Act) Canadian Registered Covered Bond Programs Guide issued by Canada Mortgage and Housing Corporation (CMHC) Issuance Framework • Eligible Assets . Uninsured loans secured by residential property in Canada Mortgage LTV Limits Basis for Valuation of Mortgage Collateral Substitute Assets Substitute Assets Limitation • • LTV limit of 80% Issuers are required to index the value of the property underlying mortgage loans in the covered pool while performing various tests Securities issued by the Government of Canada Repos of Government of Canada securities having terms acceptable to CMHC 10% of the aggregate value of (a) the loans (b) any Substitute Assets and (c) all cash held by the Guarantor ⚫ The cash assets of the Guarantor cannot exceed the Guarantor's payment obligations for the immediately succeeding six months • Amortization Test • Overcollateralization Cash Restriction • Coverage Test Asset coverage Test Credit Enhancement • Covered bond swap, forward starting Swaps • Interest rate swap, forward starting • Valuation calculation • Reserve Fund Market Risk Reporting Covered Bond Supervisory Body Requirement to Register Issuer and Program • Mandatory property value indexation • CMHC • Yes; prior to first issuance of the covered bond program • Monthly investor report with prescribed disclosure requirements set out by CMHC Investor reports must be posted on the program website Registry • Yes Disclosure Requirements • 82 82#83Appendix 5 Reconciliation for non-GAAP Financial Measures#84Reconciliation for non-GAAP Financial Measures Pre-Tax, Pre-Provision Profit ($ millions) Business Line Pre-tax, pre-provision profit Q2/22 Revenue All-Bank Expenses Pre-tax, pre-provision profit Reported Basis Q1/23 Q2/23 7,942 7,980 7,929 4,159 4,464 4,576 3,783 3,516 3,353 Adjusted Basis¹ Q2/22 Q1/23 Q2/23 7,942 7,980 7,929 4,135 4,443 4,555 3,807 3,537 3,374 Revenue Canadian Banking Expenses Pre-tax, pre-provision profit 2,903 3,164 3,134 1,324 1,449 1,457 1,579 1,715 1,677 2,903 3,164 3,134 1,319 1,447 1,456 1,584 1,717 1,678 Revenue 2,407 2,701 2,752 2,407 2,701 2,752 International Banking Expenses 1,268 1,436 1,479 1,258 1,426 1,468 Pre-tax, pre-provision profit 1,139 1,265 1,273 1,149 1,275 1,284 Revenue 1,737 1,889 1,918 1,737 1,889 1,918 Pacific Alliance Expenses 782 873 915 773 865 906 Pre-tax, pre-provision profit 955 1,016 1,003 964 1,024 1,012 Caribbean and Revenue 503 597 623 503 597 623 Expenses 305 345 344 304 344 343 Central America Pre-tax, pre-provision profit 198 252 279 199 253 280 Revenue 1,358 1,323 1,300 1,358 1,323 1,300 Global Wealth Management Expenses 803 802 818 794 793 809 Pre-tax, pre-provision profit 555 521 482 564 530 491 Revenue 1,262 1,503 1,352 Global Banking and Markets Expenses 653 773 752 Pre-tax, pre-provision profit 600 1 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com 609 730 - 84#85Reconciliation for non-GAAP Financial Measures Pre-Tax, Pre-Provision Profit (Constant FX) ($ millions) Business Line International Banking (Constant FX) Pre-tax, pre-provision profit Revenue Expenses Reported Basis Q2/22 Q1/23 Q2/23 2,552 2,809 2,752 1,352 1,487 1,479 2,552 Adjusted Basis¹ Q2/22 Q1/23 Q2/23 2,809 2,752 1,341 1,477 1,468 Pre-tax, pre-provision profit 1,200 1,322 1,273 1,211 1,332 1,284 Pacific Alliance Revenue 1,873 2,000 1,918 1,873 2,000 1,918 (Constant FX) Expenses 833 918 915 824 909 906 Pre-tax, pre-provision profit 1,040 1,082 1,003 1,049 1,091 1,012 Caribbean and Central America (Constant FX) Revenue Expenses 547 603 623 547 603 623 328 350 344 328 349 343 Pre-tax, pre-provision profit 219 253 279 220 254 280 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com 85#86Reconciliation for non-GAAP Financial Measures Return on Equity ($ millions) Reported Basis Return on Equity Mexico Net Income Attributable to Common Shareholders Total average common equity 586 3,093 FY21 FY22 Q2/23 ($ millions) Return on Equity FY21 Reported Basis FY22 Q2/23 Chile Return on Equity 745 206 3,393 3,983 18.9% 22.0% 21.2% Net Income Attributable to Common Shareholders Total average common equity Return on Equity 605 841 165 5,365 5,844 6,670 11.3% 14.4% 10.1% ($ millions) Reported Basis Return on Equity FY21 FY22 Q2/23 ($ millions) Return on Equity Reported Basis FY21 FY22 Q2/23 Peru Colombia Net Income Attributable to Common Shareholders Total average common equity Return on Equity 301 382 126 2,655 2,772 2,730 11.3% 13.8% 18.9% Net Income Attributable to Common Shareholders Total average common equity Return on Equity 68 44 -6 1,263 1,333 1,221 5.3% 3.3% -2.0% ($ millions) Reported Basis ($ millions) Reported Basis Return on Equity FY21 FY22 Q2/23 Return on Equity FY21 FY22 Q2/23 English Caribbean Dominican Republic Net Income Attributable to Common Shareholders Total average common equity 204 Return on Equity 298 146 1,158 1,141 1,106 17.6% 26.1% 54.1% Net Income Attributable to Common Shareholders Total average common equity 50 57 18 628 671 699 Return on Equity 7.9% 8.5% 10.4% ($ millions) Reported Basis ($ millions) Reported Basis Return on Equity FY21 FY22 Q2/23 Return on Equity Q2/22 Q1/23 Q2/23 Central America Caribbean and Central America Net Income Attributable to Common Shareholders Total average common equity Return on Equity 67 83 24 1,368 1,379 1,454 4.9% 6.0% 6.8% Net Income Attributable to Common Shareholders Total average common equity Return on Equity 89 141 172 3,299 3,395 3,376 11.1% 16.5% 20.9% PCLs ($ millions) Q2/22 Caribbean and Central America 39 Reported Basis Q1/23 Q2/23 35 25 Constant Dollar Basis¹ 1 Q2/22 43 Q1/23 Q2/23 37 25 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com 86 98#87Reconciliation for non-GAAP Financial Measures Caribbean and Central America: NIM and Risk Adjusted Margin ($ millions) Average total assets¹ Less: Non-earning assets Average total earning assets¹ Caribbean and Central America Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 32,409 33,219 34,522 35,124 35,372 2,718 2,656 2,611 2,662 2,547 29,691 30,563 31,911 32,462 32,825 Less: Trading Assets 12 14 16 16 Securities purchased under resale agreements and securities borrowed 70 81 109 117 Other deductions 3,369 3,534 3,550 3,566 3,267 (A) Average core earning assets¹ 26,322 26,947 28,266 28,771 29,424 Net Interest Income 322 357 401 412 430 Less: (B) Core Net Interest Income Less: 322 357 401 412 430 Provision for credit losses 39 51 43 35 25 (C) Risk Adjusted Net interest income on core earning assets 283 306 358 377 405 Net Interest Margin (B/A) 5.02% 5.25% 5.63% 5.68% 6.00% Risk Adjusted Margin (C/A) 4.41% 4.50% 5.02% 5.19% 5.65% 1 Average balances represents the average of daily balance for the period 87#88Reconciliation for non-GAAP Financial Measures ($MM) Reported Basis Pre-tax, pre-provision profit FY19 FY20 FY21 FY22 Q2/21 Q2/22 Q2/23 FY19 Reported Basis (Constant FX) 1,3 FY20 FY21 FY22 Q2/21 Q2/22 Q2/23 Mexico Revenue Expenses Pre-tax, pre-provision profit Net income attributable to equity holders (NIAEH) NIAEH NIM Calculation¹ ($MM) 2,179 2,196 2,193 2,279 525 555 673 2,277 2,431 2,504 2,575 620 661 673 1,213 1,207 1,097 1,117 273 262 335 966 989 1,096 1,162 252 293 338 1,269 1,362 1,256 1,260 1,008 1,069 1,248 1,315 324 309 335 295 352 338 522 271 590 746 118 192 207 543 261 671 845 137 231 207 Mexico³ Average total assets² Less: Non-earning assets Average total earning assets² Less: 2020 2021 2022 Q2/22 Q2/23 42,324 44,321 47,831 46,874 60,938 1,840 3,426 2,300 3,009 4,031 40,484 40,895 45,531 43,865 56,907 Trading Assets 3,232 4,133 4,101 3,667 4,959 Securities purchased under resale 54 326 agreements and securities borrowed Other deductions 70 214 Average core earning assets² Net Interest Income Less: Non-core net interest income Net interest income on core earning assets Net interest margin 3 1,705 4.14% 87 37,182 36,675 41,162 39,895 51,422 1,643 1,650 1,707 406 499 24 38 1,619 1,613 4.35% 4.40% 303 200 4 402 4.13% -10 509 4.06% 1 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com; 2 Average balances represents the average of daily balance for the period; 3 May not add due to rounding 88#89Reconciliation for non-GAAP Financial Measures ($MM) Reported Basis Reported Basis (Constant FX) 1,3 Pre-tax, pre-provision profit FY19 FY20 FY21 FY22 Q2/21 Q2/22 Q2/23 FY19 FY20 FY21 FY22 Q2/21 Q2/22 Q2/23 Peru Revenue 2,170 2,145 1,572 1,444 381 367 409 1,973 1,970 1,682 1,529 400 388 409 Expenses 769 757 603 569 150 141 161 691 694 645 602 157 149 161 Pre-tax, pre-provision profit 1,401 1,388 969 875 231 226 248 1,283 1,276 1,037 927 243 238 248 Net income attributable to equity holders (NIAEH) NIAEH 676 314 304 383 72 94 126 626 289 332 405 76 100 126 NIM Calculation1 ($MM) Average total assets² Less: Non-earning assets Average total earning assets² Peru³ 3 2020 2021 2022 Q2/22 Q2/23 32,474 28,070 28,053 28,007 29,371 2,205 1,903 1,800 1,920 1,893 30,269 26,167 26,253 26,087 27,478 Less: Trading Assets 320 868 74 59 234 Securities purchased under resale agreements and securities borrowed Other deductions Average core earning assets² Net Interest Income 1,248 692 372 1,010 28,701 24,607 25,807 25,767 26,234 1,696 1,179 1,152 292 319 261 Less: Non-core net interest income Net interest income on core earning assets Net interest margin -1 1,696 1,178 5.91% 4.79% 1 13 1,139 4.41% 8 284 4.52% 1 318 4.97% 1 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com; 2 Average balances represents the average of daily balance for the period; 3 May not add due to rounding 89#90Reconciliation for non-GAAP Financial Measures ($MM) Reported Basis Pre-tax, pre-provision profit FY19 FY20 FY21 FY22 Q2/21 Q2/22 Q2/23 FY19 FY20 FY21 Reported Basis (Constant FX) 1,3 FY22 Q2/21 Q2/22 Q2/23 Chile Revenue 2,385 2,066 2,147 2,112 533 543 608 1,999 2,011 2,061 2,273 516 585 608 Expenses 1,151 963 933 853 237 215 259 966 920 Pre-tax, pre-provision profit 1,234 1,103 1,214 1,259 296 328 349 1,033 1,091 896 1,165 1,355 918 229 231 259 286 354 349 Net income attributable to equity holders (NIAEH) NIAEH 443 302 612 843 142 226 165 372 298 592 911 138 245 165 Chile³ NIM Calculation1 ($MM) Average total assets² Less: Non-earning assets Average total earning assets² 2020 2021 2022 Q2/22 Q2/23 64,640 63,103 64,297 64,278 77,771 13,119 10,486 11,638 10,949 13,756 51,521 52,617 52,659 53,329 64,015 Less: Trading Assets 847 811 592 498 491 Securities purchased under resale 134 200 agreements and securities borrowed Other deductions 869 761 824 788 1,234 Average core earning assets² 49,805 51,045 51,109 52,043 62,090 Net Interest Income Less: Non-core net interest income Net interest income on core earning assets Net interest margin 1,415 1,507 1,596 408 16 12 1,399 1,496 2.81% 2.93% 466 -37 1,633 3.20% -21 -46 429 3.38% 512 3.38% 1 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com; 2 Average balances represents the average of daily balance for the period; 3 May not add due to rounding 90 90#91Reconciliation for non-GAAP Financial Measures ($MM) Reported Basis Reported Basis (Constant FX) 1,3 Pre-tax, pre-provision profit FY19 FY20 FY21 FY22 Q2/21 Q2/22 Q2/23 FY19 FY20 FY21 FY22 Q2/21 Q2/22 Q2/23 Colombia Revenue Expenses Pre-tax, pre-provision profit 1,502 1,234 1,055 993 270 272 228 1,049 960 878 899 223 239 228 826 790 664 663 157 165 159 574 605 550 599 129 144 159 676 444 391 330 113 107 69 476 354 328 299 95 95 69 Net income attributable to equity holders (NIAEH) NIAEH 117 -58 69 44 19 21 -6 84 -39 57 57 39 17 18 -6 NIM Calculation¹ ($MM) Average total assets² Less: Non-earning assets Average total earning assets² Less: Trading Assets Securities purchased under resale agreements and securities borrowed Other deductions Average core earning assets² Colombia³ 2020 2021 2022 Q2/22 Q2/23 15,398 14,537 15,117 15,491 15,451 1,906 1,668 1,688 1,760 1,872 13,492 12,869 13,429 13,731 13,579 181 152 273 128 145 82 708 650 631 677 360 12,784 12,219 12,489 12,757 12,864 Net Interest Income 808 687 619 171 131 Less: Non-core net interest income 11 5 Net interest income on core earning assets Net interest margin 808 687 6.32% 5.62% 608 166 4.87% 5.34% 131 4.16% 1 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com; 2 Average balances represents the average of daily balance for the period; 3 May not add due to rounding 91#92Reconciliation for non-GAAP Financial Measures Reported Basis Average Loans ($Bn) FY19 FY20 FY21 FY22 Q2/21 Q2/22 Q2/23 FY19 Reported Basis (Constant FX)1 FY20 FY21 FY22 Q2/21 Q2/22 Q2/23 Mexico 30 32 31 35 30 34 44 31 35 35 39 35 39 44 Peru 21 23 20 21 20 22 23 19 21 21 23 21 23 23 Chile 47 46 46 48 47 49 58 41 44 45 52 46 52 58 Colombia 12 12 11 12 11 12 12 9 10 10 11 9 11 12 Reported Basis Reported Basis (Constant FX)1 Average Deposits ($Bn)² Q2/22 Q1/23 Q2/23 Q2/22 Q1/23 Q2/23 Mexico 32 39 42 37 41 42 Peru 16 16 16 17 16 16 Chile 22 24 26 23 26 26 Colombia 10 9 10 8 9 10 Reported Basis Reported Basis (Constant FX)1 Pacific Alliance² ($Bn) Q2/22 Average Loans 116 Average Deposits 79 130 88 Q1/23 Q2/23 136 94 Q2/22 125 85 Q1/23 Q2/23 136 92 136 94 1 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2023 Report to Shareholders, available on http://www.sedar.com; 2 Countries may not add due to rounding 92 22#93Appendix 6 Additional Information#94Additional Information SCOTIABANK CREDIT RATINGS Moody's Investors Standard & Poor's Fitch Ratings Dominion Bond Rating Service Ltd. Services Legacy Senior Debt¹ Aa2 A+ AA AA Senior Debt² A2 A- AA- AA (low) Subordinated Debt (NVCC) Baa1 (hyb) BBB+ A A (low) Subordinated Additional Tier 1 Capital Notes (NVCC) Baa3 (hyb) BBB- BBB+ BBB (high) Limited Recourse Capital Notes (NVCC) Baa3 (hyb) BBB- BBB+ BBB (high) Short Term Deposits/Commercial Paper P-1 A-1 F1+ R-1 (high) Covered Bond Program Aaa Not Rated AAA AAA Outlook Stable Stable Stable Stable SCOTIABANK LISTINGS Toronto Stock Exchange (TSX: BNS) New York Stock Exchange (NYSE: BNS) SCOTIABANK COMMON SHARE ISSUE INFORMATION • CUSIP: 064149107 • ISIN: CA0641491075 • FIGI: BBGOOOBXSXH3 • NAICS: 522110 1Includes: (a) Senior debt issued prior to September 23, 2018; and (b) Senior debt issued on or after September 23, 2018 which is excluded from the bank recapitalization "bail-in" regime 2 Subject to conversion under the bank recapitalization "bail-in" regime 94#95Contact Information Investor Relations John McCartney Senior Vice President 416-863-7579 [email protected] Sophia Saeed Vice President 416-933-8869 [email protected] Rebecca Hoang Director 416-933-0129 [email protected] Funding Martin Weeks EVP and Group Treasurer 416-933-3728 [email protected] Darren Potter Managing Director 416-860-1784 [email protected] 95