#1Investor Presentation August 2022 Scotiabank®#2Caution Regarding Forward-Looking Statements Forward-looking statements From time to time, our public communications often 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, 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 2021 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," "project," and similar expressions of future or conditional verbs, such as "will," "may," "should," "would" and "could." 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; 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 in 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; 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 2021 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 2021 Annual Report under the headings "Outlook", as updated by quarterly reports. The "Outlook" 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, including the Bank's Annual Information Form, 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: Additional Information Contact Information + 2 21 27 35 39 42 48 48 55 65 71 75 79 81 3#4Scotiabank Leading Bank in the Americas Core Markets¹ Business Lines2,3 #3 in Canada #2 in P&C Banking #3 in Peru #3 in Chile #3 in Capital Markets #5 in Mexico #6 in Colombia #3 in Wealth 1 Core Markets rankings based on latest available market share data on loans for publicly traded banks as of April 2022 in Canada and Colombia, and June 2022 in Mexico, Peru, and Chile 2 Business Line rankings based on Total Revenue or Total Net Income for publicly traded banks in Canada for the 6 months ended April 30, 2022 3 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Third Quarter 2022 Report to Shareholders, available on 4#5Leading Bank in the Americas¹ Core markets: Canada, US, Mexico, Peru, Chile and Colombia 7th largest bank by assets¹ in the Americas Scotiabank (Reported) FY21YTD FY22YTD: Revenue Change YTD/YTD $23.6B $23.8Bn +1% Medium Term Financial Objectives All-Bank Objectives4 Net Income ($Bn) $7.4B $8.1Bn +9% EPS Growth5 7%+ Return on Equity Operating Leverage² 14.7% 2.4% 15.8% -0.9% +110 bps n.a. Productivity Ratio² 52.4% 52.8% +40 bps ROE5 Operating 14%+ Positive Leverage5 Total Assets $1.16T $1.29T +11% CET1 Ratio³ Capital6 12.2% Strong Levels 11.4% (80 bps) Ranking by Market Share7 Earnings by Market⁹ C&CA Other- Canada #3 U.S.A 5% 6% 4% USMCA USA8 Top 10 FBO PAC 21% Mexico #5 65% Pacific Peru #3 Alliance Canada Countries Chile #3 (PAC) Colombia #6 1 Ranking by asset as at August 18, 2022, Bloomberg; 2 Refer to page 51 of the Management's Discussion & Analysis in the Bank's Third Quarter 2022 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 (November 2018); 43-5 year targets from 2020 Investor Day; 5 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Third Quarter 2022 Report to Shareholders, available on http://www.sedar.com; 6This measure has been disclosed in this document in accordance with OSFI Guideline - Capital Adequacy Requirements (November 2018); 7Ranking based on market share in loans as of April 2022 in Canada and Colombia, and June 2022 in Mexico, Peru, and Chile; 8 Ranking by asset as of December 2021; 9 Net income attributable to equity holders of the Bank for the 9 months ended July 31, 205#6Well-Diversified Business with Strong Returns Earnings by Business Line¹ Caribbean and Central America (C&CA) 4% Earnings by Market¹,2 Brazil and Other 4% Colombia 1% Asia 1% Global Wealth Management 15% Peru 4% U.S. Personal & 6% Commercial Canadian Global Q3/22 YTD Banking Banking Banking and Markets EARNINGS MIX 45% 67% Mexico 8% 18% $8.0Bn³ International Banking 22% Chile 8% Q3/22 YTD EARNINGS MIX $8.0Bn³ YTD Reported 26.8% Return on Equity by Business Line 16.7% 16.5% 15.8% 21.2% 12.8% 14.3% 14.6% 12.7% 9.5% 3-year average ROE Canadian Banking International Banking Global Wealth Management Global Banking and Markets All Bank 1 Net income attributable to equity holders for the 9 months ended July 31, 2022; 2 May not add due to rounding;³ Excludes Other segment Canada 65% 6#7Business Lines (Q3/22 FYTD Reported Results) Activity Business Line Products NIAEH¹ ($MM) Personal & Commercial Banking Wealth Management Canadian Banking Mortgages • Auto Loans • Commercial Loans • Personal Loans International Banking Mortgages Auto Loans Commercial Loans • Personal Loans Credit Cards Global Wealth Management Asset Management • Private Banking . Private Investment Counsel Brokerage Trust Capital Markets Global Banking and Markets Corporate Banking Advisory Equities Fixed Income • Foreign Exchange Commodities $1,427 . Credit Cards $3,593 $1,775 $1,195 % All-Bank¹ 45% 22% 15% 18% % Target 35-40% 25-30% ~15% 15-20% Productivity 44.9% 53.3% 60.1% 51.8% Ratio 1,2 ROE 1,2 26.8% 12.8% 16.7% 14.6% Total Assets³ ($B) $424.1 $203.0 $32.4 $439.6 Employees4 18,861 42,143 7,932 2,205 1 For the 9 months ended July 31, 2022; 2 Refer to page 51 of the Management's Discussion & Analysis in the Bank's Third Quarter 2022 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; ³Average balance for the 9 months ended July 31, 2022; 4 As of July 31, 2022 7#8Why Invest in Scotiabank? Leading bank in the Americas • Six core markets: Canada, US, Mexico, Chile, Peru and Colombia ~93% of earnings from the Americas Only universal bank with full presence in all Pacific Alliance countries Diversified exposure to high quality growth markets Unique Americas footprint provides diversified exposure to higher growth, high ROE banking markets 234 million people in the Pacific Alliance countries comprise the 6th largest economy in the world , • Increasing scale and market share in core markets • • Strong risk culture: solid credit quality, well provisioned • Competitive scale and increasing market share in core markets Competitive advantages in technology, risk management and funding versus competitors Strong Canadian risk management culture with strong capabilities in AML and cybersecurity • Focus on secured and investment-grade lending • $5.3 billion in allowances for credit losses as of Q3/22 Increased Digital Adoption to 58% in Q3/22 (up 400 bps Y/Y) • ☑ Acceleration in Digital Banking Won "Best Use of Technology for Customer Experience - Overall" by The Digital Banker's Global Digital CX Banking Awards 2022 • Named "Best Digital Bank - Mexico" by The Digital Banker's Global Retail Banking Innovation Awards 2021 • Recognized for "Best Al Initiative" by The Digital Banker's Global Retail Banking Innovation Awards 2021 8#9Focused on Higher Return Markets 35% 30% 25% Scotiabank P&C Banking Focused On Higher ROE Markets 20% 32.8% 15% 15.7%² 10% 5% 0% Canada1 10.2%4 5 13.1% 12.8%³ Pacific Alliance Average FY21 ROE of Canadian banks in each market US Average 10-Year ROE of largest banks in each market 1 Average FY21 ROE 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 FY21 ROE of BNS' PAC segment 4 Average 10-year ROE of JP Morgan, BofA, Citi, Wells Fargo, Truist, US Bancorp, PNC, Fifth Third, M&T and Comerica 5 Average FY21 ROE of TD, BMO and CM's US Banking segment Sources: Company Financial Reports 9#10Q3 2022 Financial Performance $MM, except EPS Q3/22 Y/Y Q/Q Reported Net Income $2,594 2% (6%) Pre-Tax, Pre-Provision Profit¹ $3,608 (1%) (5%) Diluted EPS $2.09 5% (3%) Revenue $7,799 1% (2%) • Expenses $4,191 2% 1% Productivity Ratio² 53.7% 90 bps 130 bps Net Interest Margin³ 2.22% (1 bp) (1 bp) PCL Ratio² 22 bps (2 bps) 9 bps PCL Ratio on Impaired Loans² 21 bps (32 bps) (3 bps) Adjusted³ Net Income $2,611 2% (6%) Pre-Tax, Pre-Provision Profit $3,632 (1%) (5%) Diluted EPS $2.10 4% (4%) Expenses Productivity Ratio $4,167 2% 1% 53.4% 90 bps 130 bps REPORTED NET INCOME YEAR-OVER-YEAR ($MM) 2,542 459 136 (417) (32) (94) Q3/21 Net interest Non-interest Income income YEAR-OVER-YEAR HIGHLIGHTS EPS up 5% (adjusted up 4%) Pre-tax, pre-provision profit down 1% o Aggregate of the four business lines, PTPP was up 3% Revenue up 1% 。 Net interest income up 11%, driven by asset growth across all business lines o Non-interest income down 12% o Lower market sensitive revenues o Higher banking and insurance revenues NIM down 1 bp Q/Q o Slower pace of asset repricing compared to liabilities 。 Customers shifting to higher yielding deposit products Expenses up 2%, driven by higher personnel costs, share-based compensation and business growth expenses Strong reported ROE of 15.3% (adjusted ROE³ of 15.4%) REPORTED NET INCOME4 BY BUSINESS SEGMENT ($MM) • +12% Q3/21 Q3/22 -3% -26% +30% 2,594 1,079 1,213 390 376 513 378 481 625 PCLs Non-interest expenses Taxes Q3/22 Canadian Banking Global Wealth Management Global Banking and Markets International Banking (Constant FX) 3 1 Pre-Tax, Pre-Provision Profit defined as revenues less expenses 2 Refer to page 51 of the Management's Discussion & Analysis in the Bank's Third Quarter 2022 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 3 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Third Quarter 2022 Report to Shareholders, available on http://www.sedar.com 4 Attributable to equity holders of the Bank 10#11Earnings and Dividend Growth Reported diluted earnings per share (C$)1,2 $4.53 Total shareholder return³ ■Scotiabank +5% CAGR $7.70 $6.39 5.2% Dividends Paid per share (C$) $2.05 22YTD +6% CAGR 5 Year 9.0% 10.5% 10 Year 20 Year $3.60 $3.03 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 22YTD 1 Reflects adoption of IFRS in Fiscal 2011; 2 Excludes notable items for years prior to 2016; 3 As of July 31, 2022 11#12Strong Capital Position CET1 ratio of 11.4%¹ Q/Q CHANGE IN CET1 RATIO (%) 28 bps 11.6% 11.4% (28 bps) (9 bps) (3 bps) (6 bps) Q2 2022 Reported Earnings less dividends RWA Growth (ex. FX) Share buybacks FVOCI securities Other (net) Q3 2022 Reported 445.3 Q/Q CHANGE IN RISK WEIGHTED ASSETS ($Bn) 18.9 (1.7) 0.9 0.2 452.8 (7.1) (3.7) Q2 2022 Business Growth Net Credit Model Updates & FX & Other Migration Implementations Market Risk Operational Risk Q3 2022 1 This measure has been disclosed in this document in accordance with OSFI Guideline - Capital Adequacy Requirements (November 2018) . Internal capital generation supported strong organic growth across all business lines Additional capital deployment through share buybacks: o Repurchased 5.0 million common shares or 9 bps in Q3 2022 。 Year-to-date repurchases of 31.3 million shares or 62 bps RWA increased $7.5 billion Q/Q Strong organic growth, mainly in business lending, retail mortgages and personal loans, partially offset by: 。 Updates to advanced internal-ratings based models О The impacts of foreign currency translation 12#13Scotiabank in the Pacific Alliance¹ Q3/22 FYTD² Chile Mexico Peru Colombia Scotiabank Market Share 3,4 14.7% 7.9% 16.7% 5.4% Pacific Alliance Total/Average 10.7% Market Share Ranking 3,4 3rd 5th 3rd 6th n.a. Average Total Loans 5 (C$B) $47.5 $34.1 $21.2 $11.9 $114.8 Revenue (C$B) $1.6 $1.7 $1.1 $0.8 $5.1 Net Income after NCI (C$MM) $631 $542 $289 $38 $1,500 ROE6 14.6% 21.9% 14.0% 3.8% 15.2% # of Employees 4,7 7,537 9,071 8,906 5,798 31,312 Total Deposit Growth 2,8 Total Loan Growth 2,8 Productivity Ratio 2,6 Total PTPP Growth 2,8,9 6% 16% -4% Y/Y Y/Y Y/Y 66% 61% 68% 118 75 522 78 80 113 102 12 12 9 9 10 47% 904 926 869 10 48% 51% 81 102 21 20 21 46 41 46 48 48 75 42% 40% 41% 40% 265 297 305 39% 38% 16 16 16 20 22 22 22 22 256 225 208 30 22 32 33 31 34 36 303 302 281 Q3/21 Q2/22 Q3/22 Q3/21 Q2/22 Q3/22 Q3/21 Q2/22 Q3/22 Q3/21 Q2/22 Q3/22 Mexico Peru Chile Colombia 1Figures excluding Wealth Management; 2 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 June 2022; except Colombia as of April 2022; 4 As of July 31, 2022; 5 For the nine months ended July 31, 2022; 6 Refer to page 51 of the Management's Discussion & Analysis in the Bank's Third Quarter 2022 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; 7 Employees are reported on a full-time equivalent basis; 8 May not add due to rounding; 9 Pre-Tax, Pre-Provision Profit defined as revenues less expenses 13#14Digital Progress: All-Bank • Canada: Continued Digital Sales growth, supported by higher Digital Adoption and more active users across Digital and Mobile platforms • Pacific Alliance: Strong progress in all Digital metrics, particularly in Digital Sales and Digital Adoption Digital Adoption (%) +9% +400 bps Active Digital Users (#000) 7,524 8,073 8,551 7,830 6,316 5,276 +62% 56% 58% 54% 50% 2018 2019 2020 2021 Q3/21 Q3/22 43% 36% +2,200 bps +13% 2018 2019 2020 2021 Q3/21 Q3/22 Active Mobile Users (#'000)1 5,903 6,727 7,283 6,470 4,513 3,559 Digital Sales (%) +700 bps +105% 2018 2019 2020 2021 Q3/21 Q3/22 +0 bps 50% 42% 43% 36% 28% +2,800 bps 22% Self-Serve Transactions (%) 89% 90% 90% 90% 76% 80% +1,400 bps 2018 2019 2020 2021 Q3/21 Q3/22 2018 2019 2020 2021 Q3/21 Q3/22 12018 and 2019 use historical estimation based on available mobile user data for Colombia and Chile 14#15Digital Progress: Canada Digital Adoption (%) +7% +200 bps Active Digital Users (#'000) 3,329 3,599 3,847 4,071 3,985 4,272 +28% 59% 58% 60% 55% 50% 46% 2018 2019 2020 2021 Q3/21 Q3/22 +1,400 bps +8% 2018 2019 2020 2021 Q3/21 Q3/22 Active Mobile Users (#'000) 3,073 3,393 3,304 3,583 2,396 2,666 Digital Sales (%) +50% 2018 2019 2020 2021 Q3/21 Q3/22 +200 bps 27% +0 bps 26% 26% 25% 23% +100 bps 16% Self-Serve Transactions 84% 87% 92% 93% 93% 93% +900 bps (%) 2018 2019 2020 2021 Q3/21 Q3/22 2018 2019 2020 2021 Q3/21 Q3/22 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 +11% Active Digital Users (#'000) 3,677 4,002 4,280 3,846 2,717 1,947 57% +120% 2018 2019 2020 2021 Q3/21 Q3/22 Digital Adoption (%) +700 bps 53% 50% 46% 35% +3,100 bps 26% +17% 2018 2019 2020 2021 Q3/21 Q3/22 3,701 Active Mobile Users (#'000)1 3,334 2,830 3,166 1,847 Digital Sales (%) 1,163 +218% +1,000 bps 2018 2019 2020 2021 Q3/21 Q3/22 65% +0 bps 55% 55% 51% 29% +4,600 bps Self-Serve Transactions 86% 88% 88% 88% 69% 73% 19% (%) +1,900 bps 2018 2019 2020 2021 Q3/21 Q3/22 2018 2019 2020 2021 Q3/21 Q3/22 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 12018 and 2019 use historical estimation based on available mobile user data for Colombia and Chile 16 16#17Technology Strategy G Co • Build a strong and • Cloud-first strategy scalable platform foundation for automation and speed Investments in Technology $ • Rebalance core technology spending towards modernization Maintain consistent investment in technology Tech expense 12.3% as % of revenue 10.3% 8.3% $3,833 $2,690 $1,444 Tech expense (in $millions) 2011 2016 2021 Common systems Software re-use, best practice-sharing Consistent software design Customer-focused micro-services Analytics on real-time data Strong cyber-security foundation 17#18Fintech 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 • 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 • Credit adjudication • • Accessibility Natural language processing Personal financial Machine-learning modelling IT Modernization • management Customer experience and self-service Sample Partnerships M • Fraud Anti-Money Laundering A platform that provides insights and actionable money management A platform that enables data scientists to develop and test models faster - Auto machine learning A platform that specializes in behavioural biometrics for AML & Fraud purposes 18#19Sustainable Finance Environmental ESG Highlights • . Issued a USD$1 billion 3-year sustainability bond, Scotiabank's first, and the largest sustainability bond by a Canadian financial or corporate entity in 2021 Acted as a bookrunner for a cumulative $22 billion in green, social, sustainability and sustainability-linked bonds since 2014 Deployed a total of $3.8 billion since 2018 through the Scotiabank Women InitiativeⓇ, which provides capital to women-owned and women-led businesses Mobilized a total of $58 billion in climate-related finance since November 1, 2018, toward a raised target of $350 billion by 2030 A member of the Net-Zero Banking Alliance, Scotiabank will be a net-zero bank by 2050. Our Net-Zero Pathways Report established interim financed emissions targets and actions for the Bank's priority high-emitting sectors Achieved the 25% target reduction for GHG emissions four years ahead of our 2025 target, in alignment with our goal for net-zero emissions in our operations by 2030 Aim to secure 100% non-emitting electricity in Canada by 2025 and globally by 20301 Metric Green, social, sustainable & sustainability-linked bonds underwritten2 (billions) Capital mobilized for climate-related finance (cumulative since 2018, billions) Reduction of GHG emissions (Global, scope 1 & 2, 2016) Electricity from non-emitting sources Women (VP+, global) People of Colour (VP+, Canada) 3 Economic value distributed (billions) 4 Dow Jones Sustainability Index (DJSI) North American Index CDP climate change score Target 2021 2020 2019 $13.0 $5.0 | $350 billion by 2030 $58 $28 $16 25% by 2025 25% 20% 17% 100% by 63% 61% 61% 2030 40% by 2025 37% 36% 35% 30% by 2025 29% 28% 20% $21.0 $20.9 $21.2 Maintain inclusion Achieved Achieved Achieved A- A- B Social Governance • Scotiabank renewed diversity goals in November 2020, including a goal to have women represent greater than 40% of the global VP+ leadership team by 2025. Scotiabank is ranked 14th globally on Refinitiv's Diversity and Inclusion Index 2021 Community investment of $77 million in donations, community sponsorships, academic partnership, and employee volunteering $26 million distributed to 200+ organizations within Scotia RISE, a 10-year, $500 million initiative to promote economic resilience among disadvantaged groups Included in the Dow Jones Sustainability Index (4th year), place in the top 8% of global financial institutions and have industry-leading scores for governance, anti-crime policy and risk and crisis management A Corporate ESG committee, ultimately reporting to the Board, oversees the Bank's ESG strategy implementation Awarded Outstanding Global Leadership in Sustainability Transparency (2022 Global Finance Awards) & Best Corporate Sustainability Strategy (ESG Investing Awards 2022) Mobilizing $58 billion Capital for climate-related finance since November 1, 2018 Financing a Sustainable Future Underwriting $22 billion Apportioned value of total green, social, sustainability & sustainability-linked bonds underwritten environment programme MSCI ESG RATINGS UN AAA CCC B BB BBB AA AAA finance initiative Investing $2.9 billion Green and sustainable bonds purchased for the Bank's liquid asset investment portfolio Bloomberg Gender-Equality Index 2022 Issuance $1.5 billion Proceeds fund green and social assets, including the advancement of women-led businesses. ++CDP DRIVING SUSTAINABLE ECONOMIES A-Rating Corporate ESG Performance RATED BY ISS ESG Prime Details and definitions more fulsomely provided in Scotiabank's 2021 ESG Report. 1. Includes renewable (hydro, solar, wind, geothermal, tidal) and nuclear sources, and may include the use of renewable energy certificates (RECs); 2. Scotiabank's apportioned value of total bonds underwritten (bookrunner only) November 1 - October 31. 3. Refer to details in footnote 15, page 14 of the 2021 ESG report; 4. Per GRI methodology 201-1 Direct economic value generated and distributed (2016), see footnote 3 page 2 of the 2021 ESG report. 19#20ESG Spotlight - Retail Banking Housing 1 Green Vehicles ESG Investing Focus Areas Leadership in ESG Education Leadership in ESG Funds Leadership in EV Incentives Recent Achievements Introduced Canada's first sustainable investing tools through Scotiabank's iTrade in 2017. Over 20,000 users interacted with the sustainable investing tool in 2020 Published Scotia Global Asset Management's inaugural Stewardship and Responsible Investment Report on February 23, 2022 Introduced the Dynamic Active Sustainable Solutions, including the newly launched Dynamic Sustainable Equity Fund and re-branded Dynamic Sustainable Credit Fund Launched Scotia SRI ETFs in January with Tangerine as the key initial distribution partner (suite of 4 ETFs) FYTD as of July 2022, EV loans represented 8.6% of our total Auto bookings and were 6.0% of the total amount financed; in comparison, EV represented 6.4% of our total Auto bookings and 7.4% of the total amount financed throughout FY2021 Scotiabank's booking growth for electric vehicles was 36% Y/Y in the FYTD as of July FY2022, compared to the Y/Y growth of 121% we experienced in the same period in FY2021 Leadership in EV Financing We have an exclusive relationship with Polestar and Rivian as well as a semi-exclusive relationship with Tesla Leadership in Indigenous Financial Services Leadership in Newcomers Banking Scotiabank operates 27 Indigenous Financial Centres in Canada providing communities with our full range of banking services The First Nations Leasehold 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 20#21Business Line Overview Canadian Banking 21 21#22Canadian Banking 64% Q3/22 Average Loan Mix $434Bn 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 947 branches and 3,734 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% Q3/22 Revenue Mix $3.1Bn Residential Mortgages Strategic Focus • • Growing Commercial Banking in select industries (agriculture, health care & professionals, real estate and technology) Growing in under-represented provinces (BC and Quebec) Financial Results $MM Q3/22 Y/Y Q/Q 26% 16% Business and Government Loans 10% 8% Auto Reported Business Banking 2% Other Personal Credit Cards Loans Net Income¹ $1,213 12% 3% Pre-Tax, Pre Provision Profit² $1,734 13% 10% Reported Net Income¹ ($MM) and NIM4 (%) Revenue $3,119 12% 7% 2.23% 2.20% 2.19% 2.22% 2.29% Expenses $1,385 9% 5% PCLS $93 34% nmf 1,079 1,238 1,201 1,179 1,213 Productivity Ratio³ 44.4% (90 bps) (120 bps) Net Interest Margin4 2.29% 6 bps 7 bps PCL Ratio 3,5 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 9 bps 2 bps 10 bps PCL Ratio on Impaired 13 bps (1 bp) Medium-Term Financial Objectives Net Income Growth 1,4 Loans 3,5 Adjusted4 Productivity Ratio4 Target6 5%+ <44% Positive Net Income¹ $1,217 12% 3% Pre-Tax, Pre Provision Profit $1,739 13% 10% Expenses Productivity Ratio $1,380 9% 5% 44.2% (90 bps) (120 bps) Operating Leverage4 1 Net income attributed to equity shareholders; 2 Pre-Tax, Pre-Provision Profit defined as revenues less expenses; 3 Refer to page 51 of the Management's Discussion & Analysis in the Bank's Third Quarter 2022 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 Third Quarter 2022 Report to Shareholders, available on http://www.sedar.com; 5 Provision for credit losses on certain assets-loans, acceptances and off-balance sheet exposures; 63-5 year target from 2020 Investor Day 22 22#23Loan Portfolio 84% Real Estate Secured Lending High Quality Residential Mortgage Portfolio 。 28% insured; remaining 72% uninsured has an LTV of 46%1 。 Mortgage business model is "originate to hold" 。 New originations² in Q3/22 had average uninsured LTV of 63% o Majority is freehold properties; condominiums represent approximately 15% of the portfolio Market Leader in Auto Loans o $39.4 billion retail auto loan portfolio with 10 OEM relationships (6 exclusive) o Prime Auto and Leases (~93.0%) 。 Stable lending tenor with contractual terms for new originations averaging 80 months (~6.5 years) with projected effective terms of 54 months (4.5 years) Prudent Growth in Credit Cards o $7 billion 5 credit card portfolio represents ~2% of domestic retail loan book and ~1% of the Bank's total loan book o Organic growth strategy focused on payments and deepening relationships with existing customers DOMESTIC RETAIL LOAN BOOK³ $383Bn 4% Unsecured 2% Credit Cards • • 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 have equity lines of credit, which include mortgages for purchases refinances with a request for additional funds and transfer from other financial institutions 3 Spot Balance as of July 31, 2022; Percentages may not add to 100% due to rounding 4 Net of allowance for credit losses 5 Spot balance for July 31, 2022 -10% Automotive 23 23#24Canadian Residential Mortgages High quality stable portfolio. Credit trends performing strongly 72% Uninsured Total Portfolio 1,2 $301Bn 28% Insured Total Portfolio 1,2 $301Bn 63% Fixed 37% Variable FICO® Distribution - Canadian Uninsured Portfolio4 1% 4% 8% 87% <620 620-680 681-720 >720 Canadian Mortgage Portfolio Mortgage Variable Portfolio Mortgages Total Outstanding Balance $301Bn $110Bn Uninsured Outstanding Balance $218Bn $96Bn Average LTV³ 46% 52% % of mortgages maturing in the next 12 months 8% 1% Total and variable mortgage portfolio have an average FICO score of approximately 800 Canadian Uninsured Mortgage Portfolio Average FICO® Score % of Portfolio Uninsured Canada 800 72% GTA 803 83% GVA 805 84% 1Includes Wealth Management 2 Spot Balances at Q3/22 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 24#25Canadian Residential Mortgages High quality stable portfolio. Credit trends performing strongly Canadian Mortgage Portfolio: $301Bn (Spot balances as at Q3/22, $Bn) 165.2 22.2 Freehold $254Bn - (85%) Condos $47Bn (15%) - 15% Condos 59.7 143.0 Total Portfolio 12: $301Bn 33.0 16.6 20.4 3.8 11.7 10.5 43.1 2.9 0.3 0.7 29.2 Ontario BC & Territories Alberta 17.5 Quebec 11.4 9.8 Atlantic Provinces Manitoba & Saskatchewan 85% % of portfolio Freehold 55.0% 19.8% 11.0% 6.8% 3.9% 3.5% Canadian Mortgage Originations ($Bn) New GTA/GVA Mortgage Originations Q3/21 Q2/22 Q3/22 26.6 21.5 19.9 20.2 17.5 Greater Toronto Area Total Originations ($Bn) Uninsured LTV3 Greater Vancouver Area Total Originations ($Bn) Uninsured LTV3 7.8 5.3 5.8 64% 62% 63% 3.3 2.3 2.3 64% 62% 62% Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Average Uninsured 65% 65% 64% 63% 63% LTV at Origination 1 Includes Wealth Management 2 Spot Balances at Q3/22 3 Average LTV ratios for our uninsured residential mortgages originated during the quarter 25 25#26Automotive Finance • Canada's leader in automotive finance • Provide personal and commercial dealer financing solutions, in partnership with ten leading global automotive manufacturers in Canada • Portfolio increased 3.4% year-over-year¹. Personal up 2.9%, Commercial up 8.4% Exclusive Relationships Commercial 13% 6% Near-Prime Retail AVERAGE ASSET MIX $45.0Bn1,2,3 100% Secured 81% Prime Retail MAZDA VOLVO POLESTAR RIVIAN JAGUAR/LAND ROVER MITSUBISHI Semi-Exclusive Relationships* HYUNDAI CHRYSLER/STELLANTIS TESLA * 1 to 2 other financial institutions comprise Semi-Exclusive relationships Market Share Prime Retail Market Share4 Near-Prime Retail Market Share 5 Commercial Floorplan Market Share6 36% 64% 74% 26% 79% 21% GENERAL MOTORS Asset Growth ($Bn) $43.5Bn $44.4Bn $43.2Bn $42.3Bn $39.7Bn $37.1Bn 2016 2017 2018 2019 2020 2021 1 For the three months ended July 31, 2022; 2 May not add due to rounding; 3 Net of allowance for credit losses; 4CBA data as of January 2022, includes RBC, BMO, TD, Scotiabank, CIBC, National Bank, Laurentian Bank, Canadian Western Bank, HSBC Canada; 5 Dealer Track Portal data, includes all Near-Prime Retail providers on Dealer Track Portal, data for July 2022 originations; Includes BMO, CIBC, RBC, Scotiabank, TD, HSBC, Canadian Western Bank, Laurentian Bank, data as of December 2021 26#27Business Line Overview International Banking 27 27#28International Banking Business Loans 56% Credit Cards Q3/22 Loan 5% America Mix¹ Auto 1% 10% $155B International Banking has a strong and diverse franchise with more than 10 million Retail, Corporate and Commercial customers. International Banking continues to offer significant potential for the Bank, with a geographical footprint encompassing the Pacific Alliance countries of Mexico, Colombia, Peru and Chile as well as Central America and the Caribbean. Business Mix Asia 2% Q3/22 Revenue 78% Latin Mix 20% $2.4B Strategic Focus Deepening relationships with the Affluent Retail segment Continue driving efficiencies and customer experience by leveraging Digital Financial Results C&CA Personal Loans 27% $MM Q3/22 Q3/21 Constant dollar basis²,6 Y/Y² Q2/22 Q/Q² Residential Mortgages Reported Net Income³ $625 $481 30% $598 5% Reported Net Income³ ($MM) and NIMⓇ (%) Pre-Tax, Pre Provision $1,124 $1,051 7% $1,126 Profit4 3.86% 3.72% 3.69% 3.76% 3.85% Revenue $2,419 $2,351 3% $2,383 2% Expenses $1,295 $1,300 $1,257 3% PCLS $325 $343 (5%) $273 19% 605 625 486 528 545 Productivity Ratio5 Net Interest Margin 53.5% 55.0% (150 bps) 52.7% 80 bps 3.85% 3.72% 13 bps 3.86% (1 bp) Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 PCL Ratio 5,7 PCL Ratio Impaired Loans 5,7 84 bps 100 bps (16 bps) 77 bps 7 bps 68 bps 208 bps (140 bps) 77 bps (9 bps) Medium-Term Financial Objectives Adjusted5 Target³ Net Income Growth 3,6 Productivity Ratio6 Operating Leverage6 9%+ Net Income³ Pre-Tax, Pre Provision $631 $488 30% $1,134 $1,061 7% <50% Positive 54.6% 52.2% 1 May not add due to rounding; 2Y/Y and Q/Q growth rates (%) are on a constant dollars basis, while metrics and change in bps are on a reported basis; 3 Net income attributed to equity shareholders; 4 Pre-Tax, Pre- Provision Profit defined as revenues less expenses; 5 Refer to page 51 of the Management's Discussion & Analysis in the Bank's Third Quarter 2022 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 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Third Quarter 2022 Report to Shareholders, available on http://www.sedar.com; 7Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures; 8 3-5 year target from 2020 Investor Day 28 Profit Expenses Productivity Ratio $1,285 $1,290 $605 $1,136 $1,247 5% 3% 53.2% (140 bps) 100 bps#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 GDP growth Resilience to economic and political cycles • Relatively low · debt/GDP ratios compared with OECD and emerging-market economies Increasing adoption of banking services • · • • . Favourable Demographics 234 million people with median age of 30 years Rebounding domestic consumption Increasing exposure to Asian growth markets Among the fastest growing smartphone markets in the world Considerable growth in middle class 29#30Scotiabank in Mexico Business Overview1 Customers² ~3.1MM Corporate/ Commercial Residential Mortgages 24.2% Market Position by Loans5 Employees² ~9,000 31% Branches² 474 Average Loans $34B Loans $34.1B 59% Average Deposits $32B 4% 5% Personal Loans 14.8% 13.5% 9.9% 7.9% 7.0% Total NIAT (after NCI)3,4 2% Auto $542MM Credit Cards ROE3,4 21.9% Retail Loans 88% 12% BBVA 8 citibanamex BANORTE Productivity3,4 Secured 48.9% Unsecured BBVA Banorte Santander Banamex Scotiabank HSBC PTPP1,6 Productivity Ratio4 Operating Leverage4 965 905 +9% CAGR 55.7% 55.1% 6.9% 1,096 55.0% 989 2018 2019 2020 2021 All figures excluding Wealth Management 1 PTPP as reported, CAGR on a constant dollar basis 2 Including subsidiaries 3 FYTD'22 Results 4 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Third Quarter 2022 Report to Shareholders, available on http://www.sedar.com 5 Source: CNBV as of June 2022 6 Pre-Tax, Pre-Provision Profit defined as revenues less expenses 1.3% -1.2% 8.9% 50.0% 2018 2019 2020 2021 2018 2019 2020 2021 30#31Scotiabank in Peru Business Overview1 Residential Mortgages Customers² Market Position by Loans5 ~3.3MM Corporate/ Commercial 15% Employees² ~8,900 33.5% Branches² 256 Personal Loans 24.2% Average Loans $21B Loans $21.2B 21% 16.7% 59% 12.2% Average Deposits $16B 2% 4% Credit Cards Total NIAT $289M Other (after NCI)3,4 ROE 3,4 14.0% Retail Loans 42% 58% BCP BCP BBVA BBVA Scotiabank Interbank Productivity3,4 38.4% Secured Unsecured PTPP1,6 Productivity Ratio4 Operating Leverage4 -2% CAGR 38.3% 6.2% 4.8% 1,401 1,388 37.5% 1,165 969 2018 2019 2020 2021 All figures excluding Wealth Management 1 PTPP as reported, CAGR on a constant dollar basis 2 Including subsidiaries 3 FYTD'22 Results 4 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Third Quarter 2022 Report to Shareholders, available on http://www.sedar.com 5 Market share as of June 2022. Scotiabank includes SBP, CSF and Caja CAT 6 Pre-Tax, Pre-Provision Profit defined as revenues less expenses 35.5% 35.3% 0.5% -6.4% 2018 2019 2020 2021 2018 2019 2020 2021 31#32Scotiabank in Chile Business Overview1 Market Position by Loans5 Customers² ~2.8MM Corporate/ Commercial Employees² ~7,500 Branches² 109 Average Loans $48B Residential Mortgages 17.7% 16.6% 14.7% 13.8% 38% 46% Loans $47.5B 9.7% Average Deposits $21B 10% Total NIAT (after NCI)3,4 ROE³,4 6% Personal Loans $631MM Credit Cards 14.6% Retail Loans 80% 20% Itaú Santander Chile Scotiabank BCI Itaú Productivity3,4 40.4% Secured Unsecured PTPP1,6 Productivity Ratio4 Operating Leverage4 18.3% +20% CAGR 1,235 1,214 49.8% 1,104 48.2% 831 46.6% 43.5% 7.0% 4.5% 3.0% 3.0% 44.6% 43.3% 4.6% 4.2% 2018 2019 2020 2021 43.4% -0.1% 42.1% All figures excluding Wealth Management 1 PTPP as reported, CAGR on a constant dollar basis 2018 2019 2020 2021 2018 2019 2020 2021 2 Including subsidiaries 3 FYTD'22 Results 4 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Third Quarter 2022 Report to Shareholders, available on http://www.sedar.com 5 Market share as of June 2022, includes only private banks. Scotiabank includes Cencosud, Source: CMF 6 Pre-Tax, Pre-Provision Profit defined as revenues less expenses Reported Adjusted 32 32#33Scotiabank in Colombia Business Overview1 Customers² ~2.8MM Corporate/ Residential Mortgages 26.5% 18% Employees² ~5,800 Commercial Branches² 132 50% Average Loans Loans $11.9B $12B 18% Personal Loans Average Deposits $10B 14% Total NIAT (after NCI)3,4 $38MM Credit Cards ROE 3,4 3.8% Retail 37% 63% Loans Productivity 3,4 64.7% Secured Unsecured 676 572 PTPP1,7 -5% CAGR 444 391 Market Position by Loans 5,6 16.8% 11.6% 10.7% 6.2% 5.4% 4.1% G BBVA 1 Bancolombia Davivienda Bogotá BBVA Occidente Scotiabank Colpatria Popular Productivity Ratio4 55.0% 2018 2019 2020 2021 All figures excluding Wealth Management 52.7% 1 PTPP as reported, CAGR on a constant dollar basis 2Including subsidiaries 3FYTD'22 Results 4 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Third Quarter 2022 Report to Shareholders, available on http://www.sedar.com 5 Market share as of April 2022 6 Members of AVAL Group: Banco de Bogotá, Banco de Occidente, Banco Popular and Banco AV Villas 7 Pre-Tax, Pre-Provision Profit defined as revenues less expenses Operating Leverage4 64.0% 62.9% -2.8% -5.3% -13.5% 1.4% 2018 2019 2020 2021 2018 2019 2020 2021 33#34Other Regions Leading Caribbean & Central American franchise Caribbean & Central America Asia . • • Leading bank serving retail, commercial and corporate customers Major markets include the Dominican Republic, Jamaica, Trinidad & Tobago, Costa Rica, Panama and The Bahamas Sharpened geographic footprint by exiting higher risk, low growth jurisdictions including Haiti, El Salvador, Puerto Rico, US Virgin Islands, British Virgin Islands, Belize and 8 of the Leeward Islands Dominican Republic: #4 bank Acquired Banco Dominicano del Progreso in 2019 China: ~18% interest in Bank of Xi'an • CAD $1,005MM carrying value as of July 31, 2022 Bank of Xi'an reported $541MM of net income for the eleven months ended September 30, 2021, of which Scotiabank's share is 18% 34#35Business Line Overview Global Wealth Management 35#36Global 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 million investment fund and advisory clients across 14 countries - administering approximately $600 billion in assets. Business Overview Strategic Focus . 13% 10% Q3/22 Revenue Q3/22 AUM³ Mix² $320Bn $1.3Bn 88% 90% 20% Q3/22 AUA³ $581Bn Continued growth opportunities through digital Scotia Smart Investor rollout, close partnership with the Retail bank, and new product innovation 80% Financial Results International Canada Reported Net Income* ($MM) and ROE5 (%) $MM, except AUM/AUA Reported Q3/22 Y/Y Q/Q 16.5% 16.3% 17.2% 412 -7 390 385 405 407 376 17.5% 15.5% Net Income4 $376 (3%) (8%) Pre-Tax, Pre Provision Profit $516 (1%) (7%) Revenue $1,312 (2%) (3%) Expenses $796 (2%) (1%) PCLs $5 nmf nmf Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Ex. Performance Fees Performance Fees Productivity Ratio³ 60.6% (30 bps) 150 bps AUM ($B)³ $320 (6%) (2%) AUA ($B)³ $581 (2%) Medium-Term Financial Objectives Net Income Growth 4,5 Adjusted Productivity Ratio5 Operating Leverage5 Target' 8%+ <65% Positive Net Income4 $383 (3%) (7%) Pre-Tax, Pre Provision Profit $525 (1%) (7%) Expenses Productivity Ratio $787 (2%) (1%) 59.9% (30 bps) 140 bps 1 Based on Total Net Income for publicly traded banks in Canada for the 3 months ended July 31, 2022; 2May not add due to rounding; ³Refer to page 51 of the Management's Discussion & Analysis in the Bank's Third Quarter 2022 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; 4Attributable to equity holders of the bank; 5 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Third Quarter 2022 Report to Shareholders, available on http://www.sedar.com; 6 Pre-Tax, Pre-Provision Profit defined as revenues less expenses; 73-5 year target from 2020 Investor Day 36#37Global Wealth Management #1 in Loan growth¹ | #2 in Net Income growth¹ | #2 in Retail Mutual Fund Assets in Canada¹ 3rd Largest Wealth Management Business in Canada 1,2 Asset Management A broad selection of actively managed investment solutions from our innovative platform. ASSET Mutual Funds ETFs Pooled Funds Liquid Alternatives Hedge Funds Private Asset Funds Segregated Portfolios Institutional Asset Management 1832 MANAGEMENT L.P.im Scotia Funds. Dynamic Funds Wealth Distribution Channels A powerful advisory and distribution network across Canada and Latin America. Private Investment Counsel Full-Service Brokerage Private Banking Trust and Philanthropic Services Online Brokerage Retail Bank Branch Network Mobile Advice Team 3rd Party Distributors JARISLOWSKY FRASER Scotia MD Wealth Management. MD Financial Management Scotia iTRADE. Scotiabank Branch mobile advice team 1 Figures for the 3 months ended April 30, 2022 2 Ranking based on Net Income 37 37#38Global Wealth Management Strong investment performance, increasing scale Market-Leading Capabilities Award-Winning Investment Management . Strong investment return with Dynamic Funds ranking #1 among Independents for 5 year returns. • • • #2 in Retail Investment Fund Assets in Canada Scotia Fondos market share now #2 in in Peru Investment Performance Highlights of 1832 Asset Management assets in the 73%) top two quartiles over a five-year period +14% CAGR AUM Tailored Advice Scotia Wealth Management 2022 Global Finance Awards: Best Private Bank in Canada; and Best Private Bank for Net Worth between $1MM and $24.9MM (GLOBAL CATEGORY) Largest Private Investment Counsel business in Canada (SWM, MD, JFL) Investing in product innovation Medicus Pension Plan: A first-to-market offering, fulfilling a long-standing need for physicians Scotia iTRADE: Enhanced Commission-Free ETF program and new Mobile App AUA +10% CAGR 1 June 30, 2022 346 320 597 581 207 403 2017 2021 Q3/22 2017 2021 Q3/22 38#39Business Line Global Banking Overview and Markets 39#40Global 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 Overview Asia Canada Europe 7% 48% Global Equities Business Banking Q3/22 17% Geographic Revenue¹ $1.2Bn 41% US Q3/22 Revenue By Business Line¹ $1.2Bn 63% 20% FICC Net Income² ($MM) and ROE4 (%) 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 America's to serve it's cross-border clients in Canada, US and LatAm Financial Results 17.4% 16.1% 15.5% 15.6% 11.1% Q3/22 Y/Y Q/Q Reported 561 513 502 488 Net Income² $378 (26%) (23%) 378 Pre-Tax, Pre Provision Profit³ $497 (21%) (18%) Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Revenue $1,152 (8%) (9%) Expenses $655 6% Medium-Term Financial Objectives PCLS ($15) 44% 67% Net Income Growth 2,7 Target6 ~5% ~50% Positive Productivity Ratio4 56.8% 730 bps 510 bps Productivity Ratio? Operating Leverage 1TEB Revenue. Note GBM Latam revenue contribution is reported in International Banking results; 2Attributable to equity holders of the Bank; 3 Pre-Tax, Pre-Provision Profit defined as revenues less expenses; "Refer to page 51 of the Management's Discussion & Analysis in the Bank's Third Quarter 2022 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 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures; 63-5 year target from 2020 Investor Day; 7 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Third Quarter 2022 Report to Shareholders, available on http://www.sedar.com; PCL Ratio 4,5 (5 bps) 6 bps 11 bps PCL Ratio Impaired Loans 4,5 (6 bps) (9 bps) (5 bps) 40#41GBM in US and Latam Delivering the full bank to meet our Americas clients' needs Wholesale bank in the US: Corporate & Investment Banking, Capital Markets, Revenue US1 Latam¹ Cash Management and Trade Finance $478 million $411 million Top 10 foreign bank organization (FBO) in the US $51 billion Average Loans $53 billion Client list focused on S&P $95 billion Average Deposits $23 billion $146 million Total NIAT $192 million 500, investment grade corporates Clients across multiple sectors with focus areas for growth include Consumer/ Industrial/Retail (CIR), Technology, and Healthcare 52.9% 50 Productivity Offices 28.3% • • 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 PHOENIX TOWER INTERNATIONAL (So SoCalGas Sempra Energy utility" $800,000,000 Senior Credit Facilities acquisition of WOM Chilean Tower Portfolio US$930,000,000 Exclusive Financial Advisor; Sole Lead Arranger & Bookrunner July 2022 1 Figures for fiscal Q3/22 Bookrunner, Admin. Agent July 2022 Chevron divestiture of OMLS 86 & 88 in Nigeria to: NATIONAL Financial Advisor May 2022 GPG Grupo Naturgy US$55,800,000 Green Loan & VAT Facility Sole Lender, Green Loan Coordinator, Sole Hedge Provider & Collateral Agent July 2022 KLA+ $3,000,000,000 Georgia Power $1,500,000,000 Senior Notes Senior Notes Joint Bookrunner Joint Bookrunner June 2022 May 2022 41#42Risk Overview 42 42#43Risk Snapshot RWA Breakdown1 Credit Exposure by Country 2,3 ■Canada ■ Chile Credit Exposure by Sector 1,2 Real Estate and Construction 7.6% ■Credit Risk 2% $453Bn 87% ■ Operational Risk 11% ■Market Risk 69% ■ U.S. 5% 5% 5% 3% $663Bn³ ■ Other International ■Mexico 5% ■ C&CA 7% 7% Financial Services Wholesale and Retail 4.9% 4.4% Utilities 3.3% Other 3.1% Technology and Media 2.7% ■ Peru Agriculture 2.6% ■ Colombia Automotive 1.8% Personal & Commercial Lending Canadian Banking 1,2 International Banking1,2 Food and Beverage 1.6% Energy 1.2% Transportation 1.2% Health Care 1.0% Sovereign 0.8% Mining 0.8% ■ Secured 72% ■ Secured 5% $383Bn $68Bn 95% ■ Unsecured 28% ■ Unsecured 1 As at July 31, 2022 2% of total loans and acceptances 3 As at October 31, 2021 Hospitality and Leisure 0.5% Metals 0.4% Forest Products 0.3% Chemicals 0.3% 43#44Credit Performance TOTAL ACLs1 ($MM) AND ACL RATIO² 125 bps 109 bps 96 bps 82 bps 86 bps 80 bps 75 bps 72 bps 7,810 24 6,893 1,869 23 6,232 1,691 22 5,731 5,095 23 5,583 17 1,529 20 5,375 5,295 20 28 2,064 1,368 1,326 1,114 1,255 1,276 2,056 2,009 1,386 1,863 1,723 1,595 1,532 3,853 2,578 3,123 2,672 2,477 2,514 2,505 2,459 Q1/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 (Pre-pandemic) 3 International Retail Canadian Retail ■Business Banking GWM/Other TOTAL PCLs ($MM)³ AND PCL RATIO4 HIGHLIGHTS Strong balance sheet with total ACLs of $5.3 billion Total ACL ratio of 72 bps Secured retail portfolio (Canada - 95%; International - 72%) High investment grade corporate and commercial loan book Performing ACL ratio higher than pre-pandemic levels across secured and unsecured retail portfolios Ratio trends reflect positive shift in retail business mix and improving quality of commercial portfolios HIGHLIGHTS Total PCL ratio of 22 bps, up 9 bps Q/Q Higher performing PCLs for less favourable macroeconomic forecast Performing build in International Banking, and lower performing releases in Canadian Banking compared to prior quarter 49 bps 51 bps 33 bps 22 bps о 24 bps 10 bps 13 bps 13 bps 18 771 250 764 215 \20 496 412 145 503 525 396 380 339 69 9 168 314 222 219 1 (35) 274 276 93 325 \(43) (2) (27) (1) (96) (50) \(16) (1) (12) (15) (46) (Pre-pandemic) Q1/20 Q1/21 International Banking Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 О Impaired PCLs declined 4% Q/Q 5 ■Canadian Banking ■Global Banking and Markets ■GWM/Other 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 $5 million 4 Refer to page 51 of the Management's Discussion & Analysis in the Bank's Third Quarter 2022 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 $5 million (Q1/21: $4 million, Q2/21: -$2 million, Q3/21: -1$ million, Q4/21: $1 million, Q1/22: -$1 million, Q2/22: $1 million) 44#45Credit Quality GILS ($MM) AND GIL RATIO1 77 bps 84 bps 81 bps 73 bps 67 bps 64 bps 60 bps 58 bps 27 4,770 218- 5,279 39 5,116 33 -224 1,067 -2864,735 28 -235 1,040 1,106 921 4,456 26 4,435 32 4,264,32 4,252,27 -219 -231 168 130 941 904 824 771 3,949 3,419 3,757 3,551 3,270 3,268 3,240 3,324 Q1/20 Q1/21 Q2/21 Q3/21 Q4/21 (Pre-pandemic) Q1/22 Q2/22 Q3/22 NET WRITE-OFFS ($MM) AND NET WRITE-OFFS RATIO1 76 bps 62 bps 54 bps 43 bps 1,141 34 bps 27 bps 25 bps 13 21 bps 983 1 219 8 173 827 27- 674 256 -25 560 1 201 1 457 3 123 910 -4 801 139 422 144 4 385 3 132 544 448 435 311 274 283 `(1) Q1/20 Q1/21 (Pre-pandemic) Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 (33) • HIGHLIGHTS GIL ratio continued to improve due to recoveries in Canadian Banking and Global Banking and Markets HIGHLIGHTS Net write-offs ratio declined 4 bps Q/Q and remained at historic lows, driven by low impairments in retail banking and recoveries in business banking Net write-offs declined 61% Y/Y and 9% Q/Q International Banking Canadian Banking Global Banking and Markets Global Wealth Management 1 Refer to page 51 of the Management's Discussion & Analysis in the Bank's Third Quarter 2022 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 45#46Canadian Retail: Loans and Provisions' MORTGAGES 2 1 1 1 1 1 00 1 7 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 LINES OF CREDIT³ 79 62 65 23 60 57 ག་སྦེ 70 33 41 48 51 36 32 28 (8) (6) 10 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 PCL as a % of avg. net loans (bps)² Loan Balances Q3/22 Spot ($Bn) % Secured 1 Includes Wealth Management Mortgages $301 100% IIII] AUTO LOANS 106 91 99 89 39 37 41 39 81 78 35 (6) 31 (5) Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 CREDIT CARDS6 400 410 380 322 288 244 267 234 312 321 310 204 116 (84) (55) (59) Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 PCLs on Impaired Loans as a % of avg. net loans (bps)² Auto Loans Lines of Credit³ $40 100% $34 65% Credit Cards $7 2% Total $3834 95%5 2 Refer to page 51 of the Management's Discussion & Analysis in the Bank's Third Quarter 2022 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 4 Includes Tangerine balances of $11 billion and other smaller portfolios 5 84% secured by real estate; 11% secured by automotive 6Excluding one-time impact of fully provisioned write-offs, Q3/22 PCL ratio on impaired loans is 280bps 46#47International Retail: Loans and Provisions 428 MEXICO CHILE CARIBBEAN AND CENTRAL AMERICA Markets with Greater 329 280 181 248 326 300 261 173 81 Weighting to 138 253 243 111 129 70 70 62 221 212 237 62 64 57 51 62 67 65 139 154 205 179 87 204 216 195 Secured 120 122 195 102 72 54 67 58 45 170 31 39 46 133 124 108 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 PERU COLOMBIA Markets with 2,436 Greater Weighting to 1,322 1,152 1,194 738 Unsecured 760 361 1,065 364 353 318 143 764 726 385 A 492 1,588 1,338 352 309 329 636 534 245 287 289 304 317 211 274 203 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 256 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 PCL as a % of avg. net loans (bps)1 Loan Balances Q3/22 Spot ($Bn) % Secured PCLs on Impaired Loans as a % of avg. net loans (bps)1 Mexico Peru Chile Colombia $15 88% $9 $26 $6 42% 80% 36% Caribbean & CA Total² $12 $68 76% 72% 1 Refer to page 51 of the Management's Discussion & Analysis in the Bank's Third Quarter 2022 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 47#48Treasury and Funding 40 48#49Highlights Strong liquidity, stable funding • Strong liquidity well in excess of regulatory requirements o LCR1 of 122%, down 3% Q/Q and 1% Y/Y o HQLA of $211B, down $3B Q/Q and up $16B Y/Y, is substantially comprised of Level 1 assets o Pacific Alliance countries LCRs of 125% - 191% • Stability of funding reflected in NSFR2 of 109% • 28.4% TLAC³ is above 24% regulatory minimum • Stable wholesale funding utilization o Wholesale funding of $275B, down $8B Q/Q (driven by lower money market funding) and up $68B Y/Y o Wholesale funding / total assets decreased 67 bps Q/Q to 21.2%, from 21.9% 。 Wholesale funding usage reflects strong asset growth, partially offset by deposit growth 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). 49#50Funding 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 1 In addition to the programs listed, there are also 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). Funding Programs¹ US Debt & Equity Shelf (senior/subordinated debt, preferred and common shares) Limit USD 50 billion Global Registered Covered Bond Program (uninsured Canadian mortgages) Limit CAD 100 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 shelf (unsecured lines of credit) Limit - CAD 7 billion Principal at Risk (PAR) Note shelf Limit CAD 15 billion Trillium ABS shelf (credit cards) Limit - CAD 5 billion USD Bank CP Program Limit USD 35 billion 50 50#51Wholesale Funding Wholesale funding diversity by instrument and maturity 1,6,7 14% Senior Notes 25% Bail-inable Notes 0% Asset-Backed Securities 16% Covered Bonds Asset-Backed Commercial Paper³ 3% 28% Bearer Deposit Notes, Commercial Paper & Short-Term Certificate of Deposits $275Bn 1% Deposits from Banks² TERM FUNDING MATURITY TABLE (EXCLUDING SUB DEBT AND MORTGAGE SECURITIZATION) (CANADIAN DOLLAR EQUIVALENT, $B) $33 9% Mortgage Securitization4 6 $25 4 $23 27 27 20 20 8 $13 $32 $28 7 10 10 8 17 15 24 24 -4% Subordinated Debt5 5 < 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, Q3/22 Report to Shareholders. 7 May not add due to rounding. 51#52Deposit Overview Continued growth both personal and non-personal deposits PERSONAL DEPOSITS1 (AVERAGE BALANCES, $Bn) $254 $247 $245 $244 • $237 $248 $244 $244 $225 $241 • $221 $226 $222 3Y CAGR 5.2% • Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 NON-PERSONAL DEPOSITS1 (AVERAGE BALANCES, $Bn) $327 $280 $266 $331 $278 $296 $338 Q3/21 Q4/21 $351 $360 $350 $354 Q1/22 $363 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q2/22 Q3/22 $376 • PERSONAL DEPOSITS Important for both relationship purposes and regulatory value Initiatives are in place to drive deposit growth and retention Strong Q/Q growth in Canadian Banking deposits NON-PERSONAL DEPOSITS Leveraging relationships to grow deposits with favourable regulatory value 3Y CAGR 11.0% Strong Q/Q growth in Canadian Banking and Global Banking and Markets deposits 1 Calculated as the sum of the average balances of the four business-line personal and non-personal deposits. 52 52#53Q3/19 39.7% Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 21.2% 18.9% 17.7% Q1/21 MONEY MARKET WHOLESALE FUNDING / TOTAL WHOLESALE FUNDING 29.8% Wholesale Funding Utilization Maintaining appropriate reliance on wholesale funding WHOLESALE FUNDING / TOTAL ASSETS 23.1% WHOLESALE FUNDING UTILIZATION WELL MANAGED Wholesale funding usage returning to pre-pandemic levels driven by asset growth, partially offset by deposit growth and retention Q2/21 Q3/21 31.2% 31.8% Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/21 Q1/22 Q2/22 Q3/22 • SUITABLE CONCENTRATION OF MONEY MARKET FUNDING Prudent utilization of short-term funding 53#54Key Metrics Well-funded with strong liquidity and stable funding Liquidity Coverage Ratio (LCR)1 • o Liquidity well in excess of regulatory requirements o LCR of 125-191% in Pacific Alliance countries High Quality Liquid Assets (HQLA) 。 Substantially comprised of Level 1 assets o -$3B Q/Q and +$16B Y/Y • Net Stable Funding Ratio (NSFR)² Public disclosure began Q1/21 。NSFR is well in excess of 100% regulatory requirement 141% 138% 129% 129% 123% 124% 125% 123% 122% Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 $227 $210 $213 $214 $211 $201 $205 $195 $198 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 115% 112% 112% 110% 109% 109% 108% Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 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). 54#55Appendix 1 Core Markets: Economic Profiles#56Economic Outlook in Core Markets Real GDP Growth Forecast (2022-23) Real GDP (Annual % Change) Forecast 1, 2 Country 2010-19 Average 2020 2021 2022 2023 Q1 Q2 Q3F Q4F Year Year Canada 2.3 (5.2) 4.5 2.9 4.7 3.8 2.6 3.5 1.6 U.S. 2.3 (3.4) 5.7 3.5 1.6 1.8 0.4 1.9 1.4 Mexico 2.7 (8.1) 4.8 1.8 2.1 1.6 2.1 1.7 1.5 Chile 3.3 (6.0) 11.7 7.4 5.4 (0.3) (2.9) 2.1 (0.9) Peru 4.5 (11.0) 13.4 3.8 3.3 1.7 2.7 2.6 2.4 Colombia 3.7 (7.0) 10.7 8.6 12.6 4.3 2.1 6.6 2.9 PAC Average³ 3.6 (8.0) 10.2 5.4 5.9 1.8 18 10 1.0 3.3 1.5 Source: Scotiabank Economics 1 Forecasts for Canada and U.S. as of the July 18, 2022 Scotiabank Economics Global Forecast Tables ² Forecasts for PAC countries as of the July 29, 2022 Scotiabank Economics Latam Weekly 3 Simple average 56#57Interest Rate Sensitivity POLICY RATE CHANGE AND OUTLOOK Change During BNS Fiscal Quarters (bps) Expected Increase (bps) QTD Current Policy from Current BNS Forecast Policy Rate Policy Rate to at Country Canada Q1/22 - Q2/22 +75 Q3/22 Q4/222 Rate Dec 31/223 Dec 31/223 +150 - 2.50% +100 3.50% US - +25 +200 - 2.50% +75 3.25% Mexico +75 +100 +125 +75 8.50% +150 10.00% Colombia +150 +200 +300 9.00% +50 9.50% Peru +150 +150 +150 +50 6.50% 6.50% Chile +275 +150 +275 9.75% +125 11.00% NET INTEREST INCOME SENSITIVITY An immediate and sustained +100 bps or -100 bps parallel shift would have an impact on annual net interest income of -$267 million or +$231 million for year 1, respectively Above estimates assume a static balance sheet and no management actions¹ EVOLUTION OF INTEREST RATES² Canada & U.S. (%) 2 Mexico & Chile (%) 4.0 12.0 3.5 10.0 3.0 8.0 2.5 2.0 6.0 1.5 4.0 1.0 2.0 0.5 0.0 0.0 Jul-19 Jan-20 Jul-20 Jan-21 Jul-21 Jan-22 Jul-22 Jul-19 Jan-20 Jul-20 Bank of Mexico Overnight Rate BoC Overnight Rate Fed Funds Rate CAD 5-Yr Swap Rate USD 5-Yr Swap Rate Jan-21 Jul-21 Jan-22 Jul-22 MXN 5-Yr Swap Rate Bank of Chile Monetary Policy Rate CLP 5-Yr Swap Rate 1 Additional detail regarding non-trading interest rate sensitivity can be found on page 36 of the Management's Discussion & Analysis in the Bank's Third Quarter 2022 Report to Shareholders, available on http://www.sedar.com 2 As of Aug 18, 2022 3 Source: Scotia Economics. US and Canada as at July 18, 2022 forecast, Pacific Alliance countries as at July 29, 2022 forecast 57 57#58Slowing Growth, Rising Inflation • Global economic activity is weakening as a result of COVID policies in China, still high energy prices, expectations of higher interest rates and the associated rise in the risk of recession in key economies Inflation remains a problem almost everywhere in the world. In Canada, we anticipate inflation will average 7.1% this year, with monthly inflation likely peaking in July. Inflation is then expected to "slow" to a still above target 3.6% in 2023. In the US, we anticipate inflation will average 8% this year and 4.3% in 2023. Similarly, continued price pressures support forecast of high and persistent inflation in Mexico, Chile, Colombia and Peru A broad range of supply chain indicators and input prices suggest inflation will cool in coming months. Yet, despite that and a marked downward revision to the growth outlook, incoming inflation has been hotter than anticipated and the extreme tightness of the labour market suggest that wage pressures will add to inflation this year and next Given the more persistent strength of inflation, we now forecast that the Bank of Canada will raise its policy rate to 3.5% later this year and keep it there through 2023. We forecast the Federal Reserve to hike to 3.25% by end of this year and stay there through 2023. Central banks in Mexico, Chile, Colombia and Peru are all expected to continue their aggressive rate hiking to tame inflation. Their job is made harder by higher US interest rates, which have fueled depreciations of domestic currencies and led to rising concerns of exchange rate pass-through price pressures Canada: Bank of Canada Policy Rate vs Headline Inflation (%)1 Headline inflation Canada Unemployment Rate (%)² LatAm Unemployment Rates (% SA)³ LatAm PAC Inflation (Y/Y % change)4 24 forecast 14 14 Chile - Mexico Colombia Peru 12 20 Chile Mexico Colombia Peru 12 10 16 10 8 8 12 6 8 4 2 O 58 Policy rate -1 2 0 -2 18 19 20 21 22 23 15 16 17 18 19 20 21 22 00 02 04 06 08 10 12 14 16 18 20 22 06 08 10 12 14 16 18 20 22 9 187 9 1 5432 - O 16 4 1 Sources: Scotiabank Economics, Ban Rep, DANE; 2 Sources: Scotiabank Economics, Statistics Canada; 3 Sources: Scotiabank Economics, Haver Analytics; 4 Sources: Scotiabank Economics, Haver Analytics.#59% OF GDP Canadian Economy Diverse sources of growth with a strong balance sheet 20.4% Finance, Insurance, & Real Estate 14.8% Other 3.9% Transportation & Warehousing 6.6% Professional, Scientific, & Technical Services 6.9% CANADIAN GDP BY INDUSTRY (May.2022) Public Administration 12.3% Real GDP Growth Health & Education 5 7.4% 10.4% Wholesale & Retail Trade 9.4% Manufacturing 7.8% Mining and Oil & Gas Extraction Construction GDP 2021: 4.5% GDP 2022F: 3.5% GDP 2023F: 1.6% + 3 ANNUAL % CHANGE N L U.S. 2010-2019 TH Canada Eurozone 2021E-2023F U.K. Sources: Scotiabank Economics, Haver Analytics, Statistics Canada. Forecasts as of Jul, 18, 2022. General Government Net Debt Government Financial Deficits 0 2021 2022F -4 -6 (4.7) (2.2) (3.7) (3.3) (7.3) (4.3) (8.0) (4.3) (10.2) (4.8) (7.0) (5.6) (7.2) 169 172 138 139 -8 101 96 100 100 84 87 85 76 -10 49 51 % OF GDP 33 32 2021 12022F -12 CA GE Adv. U.K. U.S. FR IT CA GE U.K. Adv. Econ. U.S. FR IT JN Econ. Sources: IMF Apr 2022 Fiscal Monitor. Calendar years shown. Scotiabank Economics, IMF Apr. 2022 Fiscal Monitor, CBO. Calendar years shown. Japan (6.0) (7.6) (7.8) JN 59#60Public Debt Ratios in G7 Markets 300 % of GDP 250 200 150 100 50 G7 General Government Gross Debt 0 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Canada (AAA) -Italy (BBB) U.S. (AA+) France (AA) Japan (A+) Sources: Scotiabank Economics, IMF, Standard & Poor's. G7 General Government Net Debt 200 % of GDP 150 100 50 50 - Germany (AAA) - UK (AA) 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Canada (AAA) Italy (BBB) U.S. (AA+) France (AA) Japan (A+) Germany (AAA) UK (AA) Sources: Scotiabank Economics, IMF, Standard & Poor's. 60#61• Mexican Economy Solid mix of sectors 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 The authorities' fiscal and debt indicators remain reasonable; efforts to boost tax collection could continue to be implemented GDP 2021: 4.8% GDP 2022F: 1.7% GDP 2023F: 1.5% Sources: Scotiabank Economics, Bloomberg, as of July 29, 2022. Contributions to Mexican GDP Growth Other MEXICAN GDP 16.5% Finance, Insurance, & Real Estate 14.1% 6.1% Health & Education 18.4% Wholesale & Retail Trade 16.6% Manufacturing 6.4% Mining and Oil & Gas Extraction 5.9% Construction 3.4% Natural Resources 6.7% Transportation & Warehousing BY INDUSTRY* (Q1-2022) 2.0% Professional, Scientific, & Technical Services 3.9% Public Administration * Q2-2022 real GDP growth 2.1 y/y. Industry GDP breakdown not yet available for Q2-2022. Top Trading Partners* 24 y/y % change 20 16 12 8 4 0 -4 Other* -8 -12 -16 -Real GDP -20 17 18 Inventories Government Net Exports Investment Consumption 19 20 21 22 22 South Korea 2% Others 16% Canada 4% United EU 7% States China 12% *Statistical discrepancy, subject to revision. Sources: Scotiabank Economics, Haver Analytics. * Q2-2022 real GDP growth 12.1y/y. National accounts breakdown not yet available for Q2-2022. * Trade data updated as of Q1-2022. 59% 61 19#62• • Chilean Economy 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 Public support for households and businesses has powered a strong rebound in consumption GDP 2021: 11.7% GDP 2022F: 2.1% GDP 2023F: -0.9% Sources: Scotiabank Economics, Bloomberg, as of July 29, 2022. 14.6% Finance, Insurance, & Real Estate 10.2% Other 2.0% Restaurants & Hotels 9.1% Transportation & Warehousing 3.5% Natural Resources CHILEAN GDP BY INDUSTRY (Q1-2022) 20.4% Housing & Personal Services 19.8% Wholesale & Retail Trade Top Trading Partners* 9.0% Manufacturing 10.4% Mining and Oil & Gas Extraction 6.3% Construction 4.8% Public Administration Contributions to Chilean GDP Growth 40 y/y % change 30 20 10 10 0 -10 Net Exports Investment -20 Consumption -30 17 18 Inventories Government Real GDP 19 Sources: Scotiabank Economics, Haver Analytics. 20 24 21 22 Others 28% China 36% Japan 5% Brazil 6% United States EU 9% 16% * Trade data updated as of Q1-2022. 62 62#63Peruvian Economy Resilient economic fundamentals 11.5% Mining, Oil, & Gas 6.1% Construction 2.0% Electricity & Water 5.7% Peru's important resource sectors are increasingly balanced by stronger service-sector activity and solid economic fundamentals Peru has 18 free-trade agreements with 52 countries that account for 66% of global GDP Government spending, transfer programs, and pension withdrawals helped to bolster a rebound into 2022 12.6% Manufacturing 10.2% Wholesale & Retail Trade Other PERUVIAN GDP BY INDUSTRY (Q1-2022) 2.6% GDP 2023F: 2.4% GDP 2021: 13.4% GDP 2022F: Sources: Scotiabank Economics, Bloomberg, as of July 29, 2022. Contributions to Peruvian GDP Growth 50 y/y % change 40 10 3200 -10 Net Exports -20 Investment Inventories Government Consumption Real GDP -30 -40 17 18 19 Sources: Scotiabank Economics, Haver Analytics. 20 20 21 21 22 22 51.9% Top Trading Partners* China 27% Others 38% Japan 4% United Kingdom 4% * Trade data updated as of Q1-2022. Natural Resources United States 16% EU 11% 63 63#64Colombian Economy Strong underlying momentum 13.2% Finance, Insurance, & Real Estate 3.6% Arts & Entertainment 18.0% Wholesale, Retail Trade, Accommodation & Food Services 12.3% Manufacturing . Growth prospects have solidified as the re-opening has progressed Colombia continues to build on its 17 free-trade agreements with 65 countries that account for 41.7% of global GDP Services and consumption, reflecting an expanding middle class, account for rising shares of Colombian GDP compared with traditional strengths in extractive industries 10.0% Other 5.9% Natural Resources GDP 2021: 10.7% GDP 2022F: 6.6% GDP 2023F: 2.9% Sources: Scotiabank Economics, Bloomberg, as of July 29, 2022. Contributions to Colombian GDP Growth 25050 10 y/y % change 15 -5 -10 Other* Net Exports -15 Investment Government -20 Consumption Real GDP -25 17 18 19 20 *Statistical discrepancy, subject to revision. Sources: Scotiabank Economics, Haver Analytics. 21 21 22 22 COLOMBIAN GDP BY INDUSTRY (Q1-2022) 6.8% Mining and Oil & Gas Extraction 4.7% Construction 3.1% Information & Communication 7.0% Professional, Scientific, & Technical Services .15.4% Public Administration Top Trading Partners* United Others States 33% 25% Brazil 5% Mexico 5% China 19% EU 13% * Trade data updated as of Q1-2022. 64#65Appendix 2 Canadian Economic Fundamentals#6680 85 90 00 110 Index, 2019Q4 = 100 105 Jan 13, 2020 forecast 100 95 19Q4 2001 GDP Getting Back on Track CA: Consumer and Business Activity 20Q2 2003 2004 21Q1 21Q2 21Q3 21Q4 22Q1 Jul 18, 2022 forecast 50 50 22Q2 22Q3 22Q4 23Q1 23Q2 23Q3 23Q4 Key Economic Indicators index, Feb 2020 levels 100 Feb-20 Mar-20 Apr-20 May-20- Jun-20 - Jul-20- Aug-20- 6 6 8 8 ៩ ៩ ៩ ៖ ៖ 100 140 120 160 180 Sep-20 Oct-20- Nov-20- Dec-20- Jan-21- Feb-21- Mar-21- Apr-21. May-21- Jun-21 Auto Sales ⚫ Mfg Shipments Exports Housing Starts Retail Sales Sources: Scotiabank Economics, Bloomberg. Jul-21- Aug-21- Sep-21- Oct-21- Nov-21- Dec-21- Jan-22 Feb-22- Mar-22 Apr-22 May-22 Jun-22- Employment Manufacturing PMI Jul-22- 80 60 85 90 95 20 20 30 40 40 60 60 70 80 index, >50 stronger Business Confidence - CFIB Business Barometer 3-month moving average 6-month moving average Avg. 2011- present 11 12 13 14 15 Sources: Scotiabank Economics, CFIB. 16 17 18 19 20 21 22 105 Feb. 2020-100 100 Canada Fully Recovers Lost Jobs Feb-20- Apr-20- Jun-20- Aug-20- Oct-20- Dec-20- Feb-21- Apr-21- Jun-21- Aug-21- Oct-21- Dec-21- Sources: Scotiabank Economics, Statistics Canada. Feb-22- Apr-22- Jun-22- Labour Market Recovery 59 60 99 Headline index Canada's Labour Force Participation Rate البس 66 99 Feb-20 Apr-20 Jun-20 Aug-20 Oct-20 Dec-20 Feb-21 Apr-21 Jun-21 Aug-21] Oct-21 Dec-21 Feb-22 Apr-22] Jun-22]#67CA: Demographics and Housing Market Population Growth Rebounding Canada Immigration Pushing to Record Levels 2.0 annual % change ⚫. Euro Area 1.5 Japan France United States 500 Proposed Immigration 000s United Kingdom Italy 450 400 350 Annual Average Immigration 1.0 300 250 0.5 200 0.0 150 100 -0.5 50 0 -1.0 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 Sources: Scotiabank Economics. 70s 80s 90s 00s 17 18 Sources: Scotiabank Economics, Statistics Canada, Ministry of Immigration, Refugees & Citizenship Canada. 19 20 21 22 23 24 Canadian Residential Housing Inventory Rising Housing Supply Still Tight in Key Markets 12 months of inventory, SA 10 Toronto 8 units per 10,000 pop., end of period Vancouver 18 16 units per 10,000 pop., end of period Multi-Unit 8 16 4 Литить Multi-Unit 14 Single- Detached 6 Single-Detached 12 2002-20 10 average 4 1992-2020 8 average 6 2 4 2 2 0 0 0 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 92 96 00 04 08 12 Sources: Scotiabank Economics, Statistics Canada, CMHC. 16 20 02 04 06 08 10 12 14 16 18 20 Sources: Scotiabank Economics, Statistics Canada. 67#68CA: Growth in Household Credit • Total household credit growth, in annual nominal terms, had slowed considerably since the 2007 peak of 13.4% y/y. But household credit growth has picked up rapidly throughout 2021 and into 2022, reaching 9.1% y/y for the rolling quarter ending May. 2022, the highest rate since mid-2010. • Consumer loans excluding mortgages (i.e., cards, HELOCS, unsecured lines, auto loans, etc.) grew by 4.0% y/y for the rolling quarter ending May. 2022. Consumer loan growth has trended downward since late-2000 highs of over 16.6% y/y and declined further during the pandemic on refinancing into secured credit, but the most recent few quarters reflect signs of strengthening consumer demand and spending. • Mortgage credit grew at 10.4% y/y in the rolling quarter ending May. 2022 vs the 2007 peak of 14.1% y/y. Underlying demand, pandemic-induced moves, and relatively low five-year rates have driven a rebound in the pace of growth. However, early signs of slowing mortgage growth are showing amidst higher rates. Household Credit Growth Consumer Loan Growth Residential Mortgage Growth 20 %, 3-month moving average y/y % 15 change 10 5 m/m% change, SA 0 01 03 05 07 09 11 13 15 17 19 21 Sources: Scotiabank Economics, Statistics Canada. %, 3-month moving average 25 20 y/y% change 15 10 5 о 20 %, 3-month moving average 15 y/y% change 10 5 m/m% change, SA -5 -10 m/m% change, SA -15 -20 0 01 03 05 07 09 11 13 15 17 19 21 Sources: Scotiabank Economics, Statistics Canada. 01 03 05 07 09 11 13 15 17 19 21 Sources: Scotiabank Economics, Statistics Canada. 68#69CA: Housing Finances More than Half of Canadian Households Don't Have a Mortgage or HELOC [% of households (2020 est.) 5-Year Mortgage Rates Resetting Higher 4430225050 200 5-year difference, basis points with HELOC 150 11.5 100 50 1.9 0 -50 32.8 15 -100 29.1 24.3 -150 10 -200 15 16 17 Owned dwelling w/ mortgage Owned dwelling w/o mortgage Sources: Scotiabank Economics, Mortgage Professionals Canada. Higher Home Equity in Canada 80 equity as % of real estate assets 75 70 Cda estimate incl. HELOCS 65 60 55 50 SIS Official FRB with NFPS (incl. HELOCs) 45 45 Rented 18 19 20 21 forecast* 22 23 *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 10 % of total loans past due three Official (excl. HELOCs) or more months 8 U.S. estimate with NFPs excl. HELOCs 6 4 2 40 40 0 92 94 96 98 00 02 04 06 08 10 12 14 16 18 20 22 Sources: Scotiabank Economics, OSFI, FCAC, Statistics Canada, Federal Reserve Board. 92 94 96 98 00 02 04 06 08 10 Sources: Scotiabank Economics, MBA, CBA. U.S. + foreclosures U.S. Canada 12 14 16 18 20 22 22 69#70CA: Household Finances 30 25 Household Savings Ratios Still Elevated % of disposable income, SAAR 20 15 15 10 5 0 -5 92 94 96 98 00 02 04 06 08 10 12 14 16 Sources: Scotiabank Economics, Statistics Canada. 18 20 22 22 Ratio of Household Assets to Liabilities Rising 750 % 700 650 600 550 500 450 400 350 92 94 96 98 00 02 04 06 Sources: Statistics Canada, Federal Reserve Board. Canada U.S. 08 10 12 14 16 18 20 20 Household Credit-Market Debt Has Levelled Off 200 % of disposable income, SAAR 180 160 140 120 6 100 80 Adjusted Canadian Official U.S. -----Official Canadian 92 94 96 98 00 02 04 06 08 10 12 14 16 18 20 Sources: Scotiabank Economics, Statistics Canada, BEA, Federal Reserve Board. 60 Household Debt-Service Ratios Tempered 16 % of disposable income, SAAR 14 12 10 8 60 Debt service ratio (interest only) 4 2 Debt service ratio (principal and interest) Debt service ratio (principal only) 22 0 22 22 92 94 96 98 00 02 04 Sources: Scotiabank Economics, Statistics Canada. 06 08 10 12 14 16 18 20 222 70 70#71Appendix 3 Bail-in and TLAC#72Canadian 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 72 22#73Canadian 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 Deposits Other senior liabilities Senior debt subject to Subordination schematic bail-in Capital Deposits Opco senior/senior preferred / other senior liabilities Holdco senior / senior non-preferred Capital Depositor preference No Yes Yes Yes Yes Participation in equity post resolution 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 Acceleration rights upon failure to pay Yes principal and interest 1Applicable in practice for G-SIBS' issuance of non-capital bail-in debt Yes Yes Yes No5 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 73#74Summary of Bail-in / TLAC Regime Best in class approach . 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 deposits¹, debt with original term < 400 days, ABS / covered bonds, structured notes², derivative liabilities, other liabilities November 1, 2021 24.0% minimum risk-based TLAC ratio as of November 1, 2021 (21.5% plus a 2.5% Domestic Stability Buffer) 6.75% minimum TLAC leverage ratio Regulatory capital³ + bail-in debt with remaining term to maturity > 1 year4 Yes - all senior instruments issued prior to September 23, 2018 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 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 1Yankee 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 74#75Appendix 4 Covered Bonds#76Global Registered Covered Bond Program Highlights • Able to issue across multiple currencies such as CAD, USD, EUR, GBP, AUD and CHF ⚫ CAD$46.5 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 The Bank of Nova Scotia Guarantor Guarantee Status Program Size Ratings Cover Pool Asset Percentage 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% Law Ontario, Canada Issuance Format 1 As at July 28, 2022. 144A/Reg S (UKLA Listed) 2 Effective April 6, 2021, OSFI limit for issuance is 5.5% of Total Assets. 76#77Global Registered Covered Bond Program¹ Portfolio Summary Statistics LOAN-TO-VALUE RATIOS² 42% 39% 8% CREDIT SCORES³ 68% 10% 4% <1% <1% 1% 16% 10% 0-20% 20-40% 40-60% 60-80% 80+% <599 600-650 651-700 701-750 751-800 800+ REMAINING TERM DISTRIBUTION (MONTHS) PROVINCIAL DISTRIBUTION 29% 19% 13% 9.3% Alberta 0.2% Territories 2.0% Saskatchewan 12% 13% 14% 1.9% Quebec <12 12-23.99 24-35.99 36-41.99 42-47.99 48+ 0.2% P.E.I. 1 As at July 28, 2022. 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 59.3% Ontario 1.2% 22.1% British Columbia Manitoba 1.7% 0.8% New Brunswick 1.3% Newfoundland Nova Scotia 77#78Canadian Legislative Covered Bonds (CMHC Registered) . Canadian Registered Covered Bond Programs' Legal Framework (Canadian National Housing Act) Issuance Framework • Canadian Registered Covered Bond Programs Guide issued by Canada Mortgage and Housing Corporation (CMHC) Eligible Assets Mortgage LTV Limits • Uninsured loans secured by residential property in Canada • LTV limit of 80% • Basis for Valuation of Mortgage Collateral Substitute Assets • Substitute Assets Limitation Cash Restriction . 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 • Coverage Test Asset coverage Test • Credit Enhancement • Amortization Test Overcollateralization Reserve Fund Covered bond swap, forward starting Swaps • Interest rate swap, forward starting Valuation calculation Market Risk Reporting • Mandatory property value indexation Covered Bond Supervisory Body • CMHC Requirement to Register Issuer and Program • Yes; prior to first issuance of the covered bond program Registry • Yes Disclosure Requirements • Monthly investor report with prescribed disclosure requirements set out by CMHC Investor reports must be posted on the program website 78#79Appendix 5 Additional Information#80Additional Information Scotiabank Listings: Toronto Stock Exchange (TSX: BNS) New York Stock Exchange (NYSE: BNS) Scotiabank Credit Ratings Scotiabank Common Share Issue Information: 064149107 CA0641491075 • CUSIP: • ISIN: • FIGI: BBGOOOBXSXH3 . NAICS: 522110 Legacy Senior Debt¹ Senior Debt² Subordinated Debt (NVCC) Short Term Deposits/Commercial Paper P-1 Covered Bond Program Aaa Not Rated Outlook Stable Moody's Investors Services Standard & Poor's Fitch Ratings Dominion Bond Rating Service Ltd. Aa2 A+ AA AA A2 A- AA- AA (low) Baa1(hyb) BBB+ A A (low) A-1 F1+ R-1 (high) AAA Stable Stable AAA Stable Includes: (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 80#81Contact Information Investor Relations John McCartney Senior Vice President 416-863-7579 [email protected] Mark Michalski Director 416-866-6905 [email protected] Sophia Saeed Vice President 416-933-8869 [email protected] Rene Lo Director 416-866-6124 [email protected] Funding Martin Weeks Acting Group Treasurer 416-933-3728 [email protected] Darren Potter Managing Director 416-860-1784 [email protected] 81