#1Investor Presentation Fourth Quarter 2023 November 28, 2023 Scotiabank®#2Caution Regarding Forward-Looking Statements From time to time, our public communications include oral or written forward-looking statements. Statements of this type are included in this document, and may be included in other filings with Canadian securities regulators or the U.S. Securities and Exchange Commission (SEC), or in other communications. In addition, representatives of the Bank may include forward-looking statements orally to analysts, investors, the media and others. All such statements are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. Forward-looking statements may include, but are not limited to, statements made in this document, the Management's Discussion and Analysis in the Bank's 2023 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," "aim," "achieve," "foresee," "forecast," "anticipate," "intend," "estimate," "plan," "goal," "strive," "target," "project," "commit," "objective," and similar expressions of future or conditional verbs, such as "will," "may," "should," "would," "might," "can" and "could" and positive and negative variations thereof. By their very nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, which give rise to the possibility that our predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that our assumptions may not be correct and that our financial performance objectives, vision and strategic goals will not be achieved. We caution readers not to place undue reliance on these statements as a number of risk factors, many of which are beyond our control and effects of which can be difficult to predict, could cause our actual results to differ materially from the expectations, targets, estimates or intentions expressed in such forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: general economic and market conditions in the countries in which we operate and globally; 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; geopolitical risk; changes to our credit ratings; the possible effects on our business of war or terrorist actions and unforeseen consequences arising from such actions; technological changes and technology resiliency; 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; anti-money laundering; disruptions or attacks (including cyber-attacks) on the Bank's information technology, internet connectivity, network accessibility, or other voice or data communications systems or services; which may result in data breaches, unauthorized access to sensitive information, and potential incidents of identity theft; 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; inflationary pressures; Canadian housing and household indebtedness; the emergence or continuation of widespread health emergencies or pandemics, including their 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 2023 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 2023 Annual Report under the headings "Outlook", as updated by quarterly reports. The "Outlook" and "2024 Priorities" sections are based on the Bank's views and the actual outcome is uncertain. Readers should consider the above-noted factors when reviewing these sections. When relying on forward-looking statements to make decisions with respect to the Bank and its securities, investors and others should carefully consider the preceding factors, other uncertainties and potential events. Any forward-looking statements contained in this document represent the views of management only as of the date hereof and are presented for the purpose of assisting the Bank's shareholders and analysts in understanding the Bank's financial position, objectives and priorities, and anticipated financial performance as at and for the periods ended on the dates presented, and may not be appropriate for other purposes. Except as required by law, the Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by or on its behalf. Additional information relating to the Bank, including the Bank's Annual Information Form, can be located on the SEDAR+ website at www.sedarplus.ca and on the EDGAR section of the SEC's website at www.sec.gov. 2#3Opening Remarks Scott Thomson President & CEO Strengthened Balance Sheet Metrics Improving Business Mix Making Investments to Improve Productivity 3#4Fiscal 2023 Overview Raj Viswanathan Group Head & CFO 4#5Fiscal 2023 Financial Performance $MM, except EPS 2023 Y/Y Reported Net Income $7,528 (26%) Pre-Tax, Pre-Provision Profit¹ Diluted EPS $13,176 $5.78 (8%) (28%) Revenue $32,307 3% Expenses $19,131 12% Productivity Ratio² 59.2% 480 bps Net Interest Margin³ 2.12% (8 bps) PCL Ratio² 44 bps 25 bps PCL Ratio on Impaired Loans² 35 bps 11 bps • Return on Equity² 10.4% (440 bps) Return on Tangible Common Equity³ 13.0% (560 bps) • NIM down 8 bps Adjusted³ Net Income $8,441 (21%) • Loans up 9% Pre-Tax, Pre-Provision Profit¹ $13,677 (9%) • WHOLE YEAR HIGHLIGHTS Adjusted diluted EPS down 23% (reported down 28%) o Higher PCLs and expenses, offset by lower provision for income taxes Adjusted revenues up 1% (reported up 3%) o Net interest income up 1% o Adjusted non-interest income flat (reported up 5%) ■ Lower trading and wealth revenues, and higher banking revenues, fees and commissions Adjusted expenses up 9% (reported up 12%) Adjusted operating leverage³ of -8.3% PCL ratio of 44 bps Deposits5 up 9% Diluted EPS $6.54 (23%) Revenue Expenses $31,940 1% $18,263 9% Productivity Ratio 57.2% 440 bps Return on Equity 11.7% (400 bps) Return on Tangible Common Equity (510 bps) REPORTED NET INCOME WY/WY ($MM) 14.5% 719 10,174 172 REPORTED NET INCOME 4 BY SEGMENT ($ MM) 12022 2023 (16%) 2022 Net Interest Non-Interest Income Income +3% (2,029) 532 7,528 (7%) 4,763 (8%) (2,040) 4,019 1,556 1,431 1,911 1,768 2,418 2,486 Non-Interest Expenses PCLs Taxes 2023 Canadian Banking Global Wealth Management Global Banking and Markets International Banking 1 See non-GAAP reconciliations beginning on slide 43 2 Refer to page 136 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 3 Refer to non-GAAP measures on page 20 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca 4 Attributable to equity holders of the Bank 5 Excludes Other segment 5#6Q4 2023 Financial Performance $MM, except EPS Reported Q4/23 Y/Y Q/Q Net Income $1,385 (34%) (37%) Pre-Tax, Pre-Provision Profit¹ $2,779 (10%) (21%) Diluted EPS $1.02 (37%) (41%) Revenue $8,308 9% 3% • Expenses $5,529 22% 21% Productivity Ratio² 66.5% 710 bps 1,010 bps Net Interest Margin³ 2.16% (2 bps) 6 bps PCL Ratio² 65 bps 37 bps 23 bps PCL Ratio on Impaired Loans² 42 bps 16 bps 4 bps Return on Equity² 7.2% (470 bps) (490 bps) • Return on Tangible Common Equity³ 9.0% (600 bps) (610 bps) Adjusted³ Net Income $1,674 (36%) (25%) • Pre-Tax, Pre-Provision Profit¹ $3,218 (13%) (9%) Diluted EPS $1.26 (39%) (27%) Revenue Expenses $7,941 (1%) (2%) $4,723 10% 4% • Productivity Ratio 59.5% 580 bps 340 bps Return on Equity 8.9% Return on Tangible Common Equity 11.0% (610 bps) (330 bps) (780 bps) (410 bps) REPORTED NET INCOME Y/Y ($MM) Y/Y HIGHLIGHTS Adjusted diluted EPS down 39% (reported down 37%) o Higher PCLS and expenses as well as lower non-interest revenue, offset by lower taxes Adjusted revenues down 1% (reported up 9%) o Net interest income up 1% o Adjusted non-interest income down 3%; lower trading revenues and investment gains Reported up 21%; includes the impact of divestitures Adjusted expenses up 10% o Reported up 22%; impacted by the Q4 items of note³ NIM down 2 bps (up 6 bps Q/Q) PCL ratio of 65 bps o Performing PCL ratio of 23 bps Loans up 2% (down 1% Q/Q) Deposits up 8% (up 2% Q/Q)5 LDR6 of 110%, down 6% REPORTED NET INCOME 4 BY SEGMENT ($ MM) 632 (31%) ■Q4/22 Q4/23 2,093 50 337 (1,000) 1,385 (14%) (13%) 1,170 (9%) (727) 810 643 361 327 484 414 562 Q4/22 Net Interest Income Non-Interest Income Non-Interest Expenses PCLS Taxes Q4/23 1 See non-GAAP reconciliations beginning on slide 43 Canadian Banking Global Wealth Management Global Banking and International Banking Markets 2 Refer to page 136 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 3 Refer to non-GAAP measures on page 20 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca 4 Attributable to equity holders of the Bank 5 Excludes Other segment 6 This metric is calculated as Total Average Net Loans and Acceptances to Customers/Total Deposits of Canadian Banking, International Banking (Reported FX), Global Wealth Management, and Global Banking and Markets 6#7Strong Capital Position Q/Q CHANGE IN CET1 RATIO (%) 1 • Internal capital generation, mainly from lower RWA (excluding foreign currency translation) Share issuances through DRIP The estimated Q1/24 impact from the adoption of the FRTB/CVA and the 2.5% increase in capital floor is approximately -75 bps 12.7% 5 bps 14 bps 11 bps (8 bps) 16 bps (10 bps) (1 bp) Q3 2023 Reported Earnings less dividends RWA growth (ex. FX) Share issuances (mainly DRIP) FVOCI securities Sale of investment in CTFS Q4 restructuring, contract termination and other impairments Other (net) . Internal capital generation Q/Q CHANGE IN RISK WEIGHTED ASSETS ($BN) Q/Q increase in RWA of $0.2 billion was primarily from foreign currency translation; partly offset by reduction in Book Size 439.8 13.0% Q4 2023 Reported 4.7 1.0 440.0 0.5 (0.1) (1.4) (4.5) Q3 2023 Reported Book Size Book Quality and Model Updates FX & Other Market Risk 1 This measure has been disclosed in this document in accordance with OSFI Guideline - Capital Adequacy Requirements (February 2023) Operational Risk Change in Floor Add- on Q4 2023 Reported 7#8Canadian Banking $MM Q4/23 Y/Y Q/Q Reported Net Income¹ $810 (31%) (24%) Pre-Tax, Pre-Provision Profit² $1,816 5% 3% Revenue $3,329 6% 4% Expenses $1,513 8% 4% PCLS $700 331% 129% Productivity Ratio³ 45.4% 80 bps 40 bps Net Interest Margin² 2.47% 21 bps 12 bps • PCL Ratio³ 63 bps 48 bps 36 bps PCL Ratio on Impaired Loans³ 26 bps 12 bps 3 bps Adjusted² Net Income¹ $810 (31%) (24%) Pre-Tax, Pre-Provision Profit $1,816 4% 3% • Expenses $1,513 9% 4% Productivity Ratio 45.4% 100 bps 40 bps REPORTED NET INCOME¹ ($MM) AND NIM² 2.26% 2.26% 2.30% 2.35% 2.47% 1,170 1,087 1,060 1,062 810 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Y/Y HIGHLIGHTS Net income¹ down 31% o Higher PCLs as a result of performing allowance build and higher retail and commercial formations Revenue up 6% o Net interest income up 8% ■ Strong deposit growth, along with improved margins NIM up 21 bps (up 12 bps Q/Q) o Higher loan margins and favourable changes in business mix Adjusted expenses up 9% (reported up 8%) o Higher personnel costs FY23 adjusted operating leverage of -2.5% Loans in line with prior year o Business loans up 11% o Credit cards up 18% o Residential mortgages down 4% Deposit growth of 10%, primarily in term products o Personal deposits up 11% o Non-personal deposits up 9% • LDR5 of 125%, down 13% 1 Attributable to equity holders of the Bank 2 See non-GAAP reconciliations beginning on slide 43 3 Refer to page 136 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 4 Refer to non-GAAP measures on page 20 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca 5 This metric is calculated as Total Average Net Loans and Acceptances to Customers/Total Average Deposits of the business line 8#9Global Wealth Management $MM Q4/23 Y/Y Q/Q Reported Net Income¹ $327 (10%) (11%) • Pre-Tax, Pre-Provision Profit² $445 (9%) (10%) Revenue $1,332 3% • Expenses $887 11% 5% PCLs $5 nmf nmf Productivity Ratio³ 66.5% 460 bps 340 bps AUM ($Bn)³ $317 2% (4%) AUA ($Bn)³ $610 5% (3%) . Adjusted² • Net Income¹ $333 (10%) (11%) Pre-Tax, Pre-Provision Profit $454 (9%) (10%) Expenses $878 11% 5% Productivity Ratio 65.9% 470 bps 350 bps A UM 3 AUA 3 +2% Y/Y HIGHLIGHTS Net income down 10% o International Wealth Management up 7% Revenue up 3% o Higher brokerage and advisory revenues Expenses up 11% o Higher volume-related expenses and personnel and technology costs to support business growth FY23 adjusted operating leverage 4 of -4.5% Spot AUM up 2% and AUA up 5% o Largely driven by market appreciation REPORTED NET INCOME 1 ($MM) AND ROE 4 +5% 15.5% 14.8% 14.8% 14.9% 580 631 610 331 311 317 +16% 139 140 +12% 13.2% 34 125 31 36 Y/Y Y/Y +0% 297 492 280 281 455 470 Y/Y +3% Y/Y 385 361 353 366 327 Q4/22 Q3/23 Q4/23 1 Attributable to equity holders of the Bank 2 See non-GAAP reconciliations beginning on slide 43 Q4/22 Q3/23 Canada Q4/23 International Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 3 Refer to page 136 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 4 Refer to non-GAAP measures on page 20 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca 9#10Global Banking and Markets $MM Q4/23 Y/Y Q/Q Reported Net Income¹ $414 (14%) (5%) Pre-Tax, Pre-Provision Profit² $575 (13%) (2%) • Revenue $1,354 1% Expenses $779 12% 3% PCLS $39 nmf nmf • Productivity Ratio³ 57.5% 610 bps 100 bps PCL Ratio³ 11 bps 8 bps 13 bps PCL Ratio Impaired Loans³ 3 bps (3 bps) 6 bps • REVENUE BY BUSINESS ($MM) Y/Y HIGHLIGHTS Net income down 14% Revenue in line with prior year o Non-interest income up 11% o Net interest income down 19% Expenses up 12% (up 3% Q/Q) o Driven by higher personnel and technology costs to support business growth FY23 operating leverage of -7.2%4 Deposits up 2% NET INCOME1 ($MM) AND ROE 4 (%) 13.4% 13.2% 12.9% 1,503 12.4% 1,354 1,352 1,343 1,354 10.5% 504 701 554 598 548 484 519 850 802 798 745 806 401 434 414 Q4/22 Q1/23 Q2/23 Business Banking Q3/23 Capital Markets Q4/23 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 1 Attributable to equity holders of the Bank 2 See non-GAAP reconciliations beginning on slide 43 3 Refer to page 136 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 4 Refer to non-GAAP measures on page 20 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca 10 10#11International Banking Constant dollar basis 1,5 $MM Reported Q4/23 Q4/22 Y/Y1 Q3/23 Q/Q¹ Net Income² $562 $705 (20%) $638 (12%) . Pre-Tax, Pre-Provision Profit³ $1,277 $1,246 3% $1,364 (6%) • Revenue $2,799 $2,718 3% $2,851 (2%) Expenses $1,522 $1,472 3% $1,487 2% PCLS $512 $386 33% $510 Productivity Ratio5 54.4% 54.5% (10 bps) 52.4% 200 bps Net Interest Margin³ 4.18% 4.08% 10 bps 4.10% 8 bps PCL Ratio5 119 bps 89 bps 30 bps 118 bps 1 bp PCL Ratio Impaired Loans 5 118 bps 81 bps 37 bps 111 bps 7 bps Adjusted³ Net Income² $570 $713 (20%) $645 (12%) Pre-Tax, Pre-Provision Profit $1,287 $1,256 2% $1,374 (6%) Expenses $1,512 $1,462 3% $1,477 2% Productivity Ratio 54.0% 54.1% (10 bps) 52.0% 200 bps • Loans up 2% REPORTED NET INCOME 1,2 ($MM) AND NIM 3 4.08% 4.00% 4.12% 4.10% 4.18% 705 718 687 638 562 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 • • Y/Y HIGHLIGHTS Net income² down 20% PTPP up 3% Revenue up 3% o Net interest income up 9% o Non-interest income down 13%, driven by lower trading revenues Expenses up 3% (up 2% Q/Q) o Inflationary pressures partly offset by savings initiatives FY23 adjusted operating leverage 4 of 0.3% NIM up 10 bps (up 8 bps Q/Q) o CCA up 15 bps o PAC up 17 bps o Retail up 5% 。 Business Banking down 1% PCL ratio of 119 bps Deposits up 9% o Term deposits up 21% and non-term deposits down 3% o Personal deposits up 3% and non-personal deposits up 12% LDR6 of 129%, down 11% 1 Current and prior period dollars, Y/Y and Q/Q growth rates (%) are on a constant dollar basis, while metrics and change in bps are on a reported basis 2 Attributable to equity holders of the Bank 3 See non-GAAP reconciliations beginning on slide 43 4 Refer to non-GAAP measures on page 20 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca 5 Refer to page 136 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 6 This metric is calculated as Total Average Net Loans and Acceptances to Customers/Total Average Deposits of the business line 11#12Other (603) REPORTED NET INCOME 1, 2 ($MM) (323) (299) Q4/22 (913) Q1/23 Q2/23 (100) ADJUSTED NET INCOME 1, 2, (759) • • HIGHLIGHTS Reported net loss this quarter includes adjusting items loss of $272 million compared to $503 million in Q4/22 Adjusted net loss increased $387 million from the prior year, and $188 million from the prior quarter Q/Q and Y/Y: Lower revenues o Higher funding costs o Lower investment gains and income from associated corporations o Partly offset by higher income from liquid assets Q3/23 Q4/23 3 ($ MM) (299) (334) (323) (487) Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 1 Includes all other smaller operating segments and corporate adjustments, such as the elimination of the tax-exempt income gross-up reported in net interest income, non-interest income and provision for income taxes and differences in the actual amount of costs incurred and charged to the operating segments 2 Attributable to equity holders of the Bank 3 Refer to non-GAAP measures on page 20 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca 12 12#13Risk Review Phil Thomas Group Head & Chief Risk Officer 13#14Provisions and Allowances TOTAL ACLS1 ($MM) AND ACL RATIO2 • HIGHLIGHTS Total ACL ratio up 7 bps Q/Q to 85 bps ○ Performing Allowances are $4.7 billion Up $460MM Q/Q; ACL build mainly in Canadian Banking ○ Highly secured retail portfolio (94% in Canada and 73% in International) Business banking portfolio remained resilient 80 bps 75 bps 72 bps 71 bps 72 bps 75 bps 78 bps 85 bps 6,629 О 5,931 6,094 39 5,583 5,375 5,295 5,499 5,668 33 34 31 20 20 28 1,871 28 1,326 1,255 1,276 1,368 1,409 1,530 1,598 1,723 1,595 1,532 1,528 1,547 1,551 1,590 1,865 о 2,514 2,505 2,459 2,575 2,681 2,817 2,872 2,854 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 3 ■International Retail ■Canadian Retail ■Business Banking GWM/Other TOTAL PCLS ($MM) AND PCL RATIO4 HIGHLIGHTS Total PCL ratio of 65 bps, up 23 bps Q/Q Higher Performing PCLs mainly in Canadian Banking Impaired PCLs driven by higher migrations in Canadian and International Retail and higher Business Banking provisions mainly in GBM 65 bps 22 bps 28 bps 33 bps 37 bps 42 bps о 1,256 13 bps 13 bps 5 39 819 709 638 529 2 2 700 412 1 11 53 307 222 219 9 1 163 93 274 276 (35) 325 355 218 404 15 218 436 516 512 (12) (6) (46) (15) Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 ■Canadian Banking ■Global Banking and Markets ■GWM/Other5 International Banking 1 Includes ACLs on off-balance sheet exposures and ACLs on acceptances and other financial assets 2 ACL ratio defined as period end total ACLs (excluding debt securities and deposits with financial institutions) divided by gross loans and acceptances 3 Includes Allowance for credit losses in Other of $6 million (Q3/23: $6 million) 4 Refer to page 136 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca, 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 (Q3/23: $2 million) 14#15Provisions Q/Q HIGHLIGHTS Total PCLs (65bps, up 23 bps Q/Q): o Increased $437 million Q/Q driven by performing ACL build mainly in Canadian Banking Canadian Banking PCLs (63 bps, up 36 bps Q/Q): o Higher Q/Q driven by performing provision build due to unfavourable macroeconomic outlook and continued uncertainty from higher interest rates on portfolios International Banking PCLs (119 bps, up 1 bp Q/Q): o Higher Impaired PCLS Q/Q which were driven by higher retail formations, primarily in Mexico and Peru, and higher commercial provisions Performing PCLs were lower Q/Q with Q4/23 driven primarily by the continued unfavourable macroeconomic outlook primarily impacting the commercial portfolio and retail portfolio growth. This was partly offset by retail credit migration to impaired. Global Banking and Markets PCLs (11 bps, up 13 bps Q/Q): o Higher Q/Q driven by performing provision build PCLs ($MM) Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 All-Bank Impaired Performing 494 562 621 738 802 35 76 88 81 454 Total 529 638 709 819 1,256 Canadian Banking Impaired 153 187 223 258 286 Performing 10 31 (5) 49 414 Total 163 218 218 307 700 International Banking Impaired 320 375 396 489 505 Performing 35 29 40 27 7 Total 355 404 436 516 512 Global Wealth Management Impaired (1) (2) 3 1 2 Performing 2 3 (1) 1 3 Total 1 1 2 2 5 Global Banking and Markets Impaired 22 Performing (11) 13 Total 11 15 235 (1) (10) 9 54 4 30 53 (6) 39 Other Total (1) 15 15#16Gross Impaired Loans and Net Write-offs GILS ($MM) AND GIL RATIO1 74 bps 64 bps 62 bps 65 bps 67 bps 70 bps 60 bps 58 bps 5,104 5,305 5,487 5,726 32 4,786 4,435 23 19 4,264 32 231 4,252 32 168 904 27 917 130 18 156 18 97 141 120 95 1,079 1,157 1,332 1,440 824 771 3,268 3,240 3,324 3,695 3,866 4,005 4,041 4,157 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 HIGHLIGHTS GILs increased $239 million Q/Q but remain below pre- pandemic levels driven by new formations in Retail Banking and International Commercial 。 Canadian Banking: Higher Q/Q driven by new retail formations mainly in mortgages and auto 。 International Banking: Higher Q/Q driven by new retail formations mostly in Peru and new formations in Commercial primarily in Chile real estate NET WRITE-OFFS ($MM) AND NET WRITE-OFFS RATIO1 34 bps 35 bps 27 bps 29 bps 29 bps 25 bps 21 bps 24 bps 656 681 563 552 8 457 462 229 249 3 422 4 5 385 4 3 184 200 139 155 144 132 HIGHLIGHTS Net write-offs increased 1 bp Q/Q driven by higher write- offs mostly in Canada Auto and higher write offs in Commercial 432 438 371 351 311 274 283 302 (33) (5) (6) Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 International Banking Canadian Banking Global Banking and Markets Global Wealth Management 1 Refer to page 136 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 16#17Appendix 17#18Net Income and Adjusted Diluted EPS Net Income ($MM) and EPS ($ per share) Reported View Net Income Attributable to Common Shareholders Dilutive impact of share-based payment options and others² Net Income attributable to common shareholders Net Income attributable to common shareholders (diluted) Common Shares Outstanding Weighted average number of common shares outstanding Q4/22 Q3/23 Q4/23 1,949 2,086 1,245 4 2 (11) 1,953 2,088 1,234 1,192 1,199 1,206 7 15 5 1,199 1,214 1,211 Dilutive impact of share-based payment options and others² Weighted average number of diluted common shares outstanding Adjusted View¹ Net Income Attributable to Common Shareholders Net Income attributable to common shareholders Dilutive impact of share-based payment options and others² Net Income attributable to common shareholders (diluted) Common Shares Outstanding Weighted average number of diluted common shares outstanding EPS Calculation Reported Basic EPS Dilutive impact of share-based payment options and others² Reported Diluted EPS Impact of adjustments on diluted earnings per share¹ Adjusted Diluted EPS1 +A +A +A 2,470 2,101 1,531 4 2 (11) 2,474 2,103 1,520 1,199 1,214 1,211 1.64 $ 1.74 1.03 (0.01) (0.02) (0.01) 1.63 $ 1.72 1.02 0.43 0.01 2.06 $ 1.73 +A $ 0.24 1.26 1 Refer to non-GAAP measures on page 20 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca 2 Certain options as well as acquisition-related put/call options that the Bank may settle at its own discretion by issuing common shares were not included in the calculation of diluted earnings per share as they were anti-dilutive 18#19Risk Adjusted Margin and NIM RISK ADJUSTED MARGIN 1 3.31% 3.18% 3.24% 3.18% 3.10% ALL BANK NIM2 2 bps 4 bps 2.10% 2.05% 2.08% 2.06% 216 bps 1.79% 210 bps 1.94% 1.83% 1.80% 1.74% 1.60% Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Q3/23 Spreads Business Mix Q4/23 All-Bank Canadian Banking International Banking 235 bps CANADIAN BANKING NIM 1,2 8 bps 4 bps 247 bps 410 bps INTERNATIONAL BANKING NIM 1,2 5 bps 1 bp 2 bps 418 bps Q3/23 Spreads Business Mix Q4/23 Q3/23 Spreads Inflation Business Mix Q4/23 1 Risk-Adjusted Margin calculated as (Net Interest Income less Provision for Credit Losses) / Average Core Earning Assets. See non-GAAP reconciliations beginning on slide 43 2 Refer to non-GAAP measures on page 20 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca 19#20Interest Rate Sensitivity . NET INTEREST INCOME SENSITIVITY Impact of an immediate and sustained 100 bps parallel shift on net interest income (NII) over a 12-month period ○ +100 bps: $99 million decrease in NII О -100 bps: $68 million increase in NII POLICY RATE CHANGE AND OUTLOOK Policy rate Rate Change by BNS Fiscal Quarters (bps) Above estimates assume a static balance sheet and no management actions¹ Country on Oct FY 2022 31/21 Canada 0.25% +350 Q1/23Q2/23Q3/23 Q4/23 QTD Q1/24 Current Policy Rate Forecast Policy Rate² Dec Mar Jun Sep 30/23 29/24 28/24 30/24 +75 +50 5.00% 5.00% 5.00% 4.75% 4.25% • Q/Q: Maintained low NII sensitivity • NII benefit if market implied forward rates are realized US 0.25% +300 +125 +50 Mexico 4.75% +450 +125 +75 Colombia 2.50% +850 +175 +50 Peru 1.50% +550 +75 Chile 2.75% +850 +50 - 5.50% 5.50% 5.50% 5.25% 4.75% - - 11.25% 11.25% 11.00% 10.50% 10.00% - -50 -100 -125 - 9.00% 8.50% 7.50% 5.75% 4.75% 13.25% 12.75% 11.25% 9.25% 7.75% -25 7.00% 6.75% 6.75% 6.25% 5.50% HISTORICAL INTEREST RATE ENVIRONMENT AND OUTLOOK 3 Canada & US (%) Mexico & Chile (%) 6.0 5.0 4.0 3.0 2.0 13.0 11.0 9.0 7.0 5.0 1.0 3.0 0.0 Oct-22 Apr-23 -BoC Overnight Rate Oct-23 -Fed Funds Rate Apr-24 -CAD 5-Yr Swap Rate -USD 5-Yr Swap Rate Oct-24 Oct-22 Apr-23 Oct-23 Bank of Mexico Overnight Rate Bank of Chile Monetary Policy Rate Apr-24 MXN 5-Yr Swap Rate Oct-24 - CLP 5-Yr Swap Rate 1 Additional detail regarding non-trading interest rate sensitivity can be found on page 232 of the Consolidated Financial Statements in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca 2 Source: Scotia Economics. US and Canada forecast as of October 23, 2023, Pacific Alliance countries forecast as of November 3, 2023 3 As at November 16, 2023 20 20#21Economic Outlook in Core Markets REAL GDP (ANNUAL % CHANGE) Forecast¹ Country 2010-20 Average 2021 2022 2023 2024 Q1 Q2 Q3E Q4F Full Year Full Q1F Q2F Q3F Q4F Year Canada 1.6 5.0 3.4 2.1 == 1.1 0.7 0.9 1.2 0.4 0.6 0.7 1.1 0.7 U.S.2 1 2.0 5.8 1.9 1.7 2.4 2.9 21 2.1 2.2 1.5 1.0 0.3 0.6 0.8 Mexico² 1.3 5.7 3.9 3.5 3.4 3.3 3.2 3.5 3.8 4.0 2.4 2.1 3.1 Chile² 2.5 11.7 2.4 (0.7) (0.8) 0.6 (0.1) (0.5) 15 1.5 2.9 1.8 3.1 2.3 Peru² 3.1 13.4 2.7 (0.4) (0.5) (1.0) 1.0 (0.2) 1.5 2.8 3.0 1.9 2.3 Colombia² 2.7 11.0 7.3 3.0 0.4 (0.3) 2.2 1.8 2.5 2.7 2.4 2.8 2.6 PAC Average 2.4 10.5 4.1 1.4 14 0.6 0.7 1.6 1.2 2.3 3.1 2.4 2.5 2.6 1 Source: Scotia Economics. US and Canada forecast as of October 23, 2023, Pacific Alliance countries forecast as of November 3, 2023. 2 Q3/23 GDP data for US, Mexico, Chile, Peru & Colombia are advanced estimates as of November 24, 2023. 21 21#22Digital Progress: All-Bank Canada: Progress across all key metrics as customer adoption of Digital continues. Pacific Alliance: Continued digital progress with steady increase in digital and mobile customers across all countries. DIGITAL ADOPTION (%) +5% ACTIVE 7,524 8,073 8,733 8,733 9,174 +180 bps DIGITAL USERS ( %23'000 ) 6,316 +45% 56% 59% 59% 61% 50% 2019 2020 2021 2022 Q4/22 Q4/23 43% +1,780 bps +9% 2019 2020 2021 2022 Q4/22 Q4/23 ACTIVE DIGITAL SALES (%) MOBILE USERS ( %23'000 ) 1 5,903 6,727 7,496 7,496 8,146 4,513 +81% 2019 2020 2021 2022 Q4/22 Q4/23 +120 bps +140 bps 50% 50% 51% 42% 36% 28% SELF-SERVE TRANSACTIONS 89% 92% 92% 92% 93% 81% +2,340 bps (%) +1,230 bps 2019 2020 2021 2022 Q4/22 Q4/23 Definitions Digital Sales (% of retail unit sales using Digital platforms, excluding auto, broker originated mortgages and mutual funds) Digital Adoption (% of customers with Digital login (90 days) / Total addressable Customer Base) Digital Users: # of customers who logged into website and / or mobile in the last 90 days Mobile Users: # of customers who logged into mobile in the last 90 days Self-serve Transactions: % of Financial transactions through Digital, ABM, IVR 12019 uses historical estimation based on available mobile user data for Colombia and Chile 2019 2020 2021 2022 Q4/22 Q4/23 22 22#23Digital Progress: Canada DIGITAL ADOPTION (%) +8% ACTIVE 3,599 3,847 4,071 4,368 4,368 4,705 +170 bps DIGITAL USERS ( %23'000 ) +31% 55% 59% 61% 61% 62% 50% 2019 2020 2021 2022 Q4/22 Q4/23 +1,230 bps +11% 2019 2020 2021 2022 Q4/22 Q4/23 ACTIVE 3,073 3,393 3,704 3,704 4,117 DIGITAL SALES (%) MOBILE USERS ( %23'000 ) 2,666 +54% -40 bps 2019 2020 2021 2022 Q4/22 Q4/23 +60 bps 28% 28% 28% 26% 23% +150 bps 16% SELF-SERVE TRANSACTIONS 87% 92% 93% 93% 93% 94% +670 bps (%) 2019 2020 2021 2022 Q4/22 Q4/23 2019 2020 2021 2022 Q4/22 Q4/23 Definitions Digital Sales (% of retail unit sales using Digital platforms, excluding auto, broker originated mortgages and mutual funds) Digital Adoption (% of customers with Digital login (90 days) / Total addressable Customer Base) Digital Users: # of customers who logged into website and / or mobile in the last 90 days Mobile Users: # of customers who logged into mobile in the last 90 days Self-serve Transactions: % of Financial transactions through Digital, ABM, IVR 23#24Digital Progress: Pacific Alliance DIGITAL ADOPTION (%) +2% 3,677 4,002 4,365 4,365 4,469 ACTIVE 2,717 +170 bps DIGITAL USERS ( %23'000) 58% 53% 58% 59% +64% 2019 2020 2021 2022 Q4/22 Q4/23 46% 35% +2,430 bps +6% 3,334 3,793 3,793 4,029 2019 2020 2021 2022 Q4/22 Q4/23 ACTIVE 2,830 MOBILE USERS 1,847 +118% DIGITAL SALES (%) ( %23' 0 0 0 ) 1 2019 2020 2021 2022 Q4/22 Q4/23 +440 bps +200 bps 2 68% 68% 72% 55% 51% +4,310 bps 29% 87% 90% 91% 91% 93% 75% SELF-SERVE TRANSACTIONS +1,810 bps (%) 2019 2020 2021 2022 Q4/22 Q4/23 2019 2020 2021 2022 Q4/22 Q4/23 Definitions Digital Sales (% of retail unit sales using Digital platforms, excluding auto, broker originated mortgages and mutual funds) Digital Adoption (% of customers with Digital login (90 days) / Total addressable Customer Base) Digital Users: # of customers who logged into website and / or mobile in the last 90 days Mobile Users: # of customers who logged into mobile in the last 90 days Self-serve Transactions: % of Financial transactions through Digital, ABM, IVR 12019 uses historical estimation based on available mobile user data for Colombia and Chile 2 Mobile and online Digital sales were 52%; digitally assisted sales were 20% 24 24#25Revenue Growth CANADIAN BANKING 1 INTERNATIONAL BANKING 1 Constant Dollar Basis² +3% +6% 2,799 2,851 31 27 (7%) 3,134 3,216 3,329 2,718 28 611 614 +13% 821 829 (2%) 544 838 2,296 2,387 2,508 +9% 2,146 2,209 2,158 +1% Q4/22 Retail Banking Q3/23 Q4/23 Business Banking GLOBAL WEALTH MANAGEMENT 1 Q4/22 Q3/23 Q4/23 Latin America CCA Asia GLOBAL BANKING AND MARKETS 1,3 +3% +0% 1,354 1,343 1,354 1,336 1,332 1,289 311 343 307 (1%) 186 183 +12% 163 193 241 255 +25% +2% 1,126 1,150 1,149 850 745 Q4/22 Q3/23 Q4/23 Canada International 1 May not add due to rounding; all percentage changes are Y/Y 2 See non-GAAP reconciliations beginning on slide 43 3 GBM LatAm revenue contribution and assets are reported in International Banking's results (5%) 806 Q4/22 Q3/23 Q4/23 Business Banking Global Equities FICC 25 25#26Adjusted Non-Interest Expense¹ HIGHLIGHTS Non-interest expenses in Q4 were impacted by pre-tax adjusting items of $806MM. The following commentary excludes those items Y/Y Q/Q • Expenses up 10%, including ~3% due to negative impact of FX Higher staffing-related costs, technology costs, performance- and share based compensation, and advertising & business development Expenses up 4%, including <1% due to negative impact of FX Higher technology costs, performance-based compensation, professional fees, advertising & business development WY/WY • Expenses up 9%, including ~3% due to negative impact of FX in MMs ADJUSTED NON-INTEREST EXPENSE BY BUSINESS LINE ADJUSTED NON-INTEREST EXPENSE Q4/23 Q3/23 Q4/22 Q/Q Y/Y Salaries and Benefits Performance & Share-Based Compensation 1,804 1,801 1,640 10% 610 578 547 6% 11% Technology 563 524 505 8% 12% Depreciation and Amortization 392 392 370 6% Premises 138 137 131 5% Communications 99 101 90 -2% 10% Advertising & Business 159 142 140 12% 14% Development Professional 219 199 239 10% -8% Business and Capital Taxes 161 154 134 5% 20% Other 579 514 491 13% 18% Total 4,723 4,542 4,287 4% 10% ADJUSTED PRODUCTIVITY RATIO 65.9% in MMs Q4/23 Q3/23 Q4/22 Q/Q Y/Y 62.3% 62.4% Canadian Banking International Banking 61.2% 1,513 1,447 1,391 4% 9% 59.9% 1,512 1,481 1,355 2% 12% 59.5% 57.5% Global Wealth Management Global Banking and Markets 878 834 789 5% 11% 56.5% 55.7% 57.5% 779 758 696 3% 12% 54.1% 55.6% Other 41 22 56 86% (27%) 52.8% 53.3% 56.1% 54.0 53,7% Total 4,723 4,542 4,287 4% 10% % 52.0% 51.4% 51.4% Constant FX International Banking 1,512 1,477 1,462 2% 3% 45.8% 46.4% 45.0% 45.4% 44.4% All Bank Canadian Banking Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 International Banking Global Banking and Markets Global Wealth Management 26 1 Refer to non-GAAP measures on page 20 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca#27Loans by Business Line in $Bn CANADIAN BANKING 1 INTERNATIONAL BANKING 1 in $Bn $Bn and Constant Dollar Basis² 0% 442 447 444 81 72 222 88 90 7 8 8 74 14 74 +2% 176 175 172 96 94 95 GLOBAL BANKING AND MARKETS 1 +0% 123 126 123 8 282 277 271 20 20 20 22 9 20 48 51 52 52 Q4/22 Q3/23 Q4/23 Q4/22 Q3/23 Q4/23 Q4/22 Q3/23 Q4/23 Growth (%) Y/Y 12% 3% 0% 12% 5% 2% 31% 13% 0% Q/Q 2% 0% (1%) 2% 0% (1%) 10% (5%) (2%) Mortgages Personal loans Credit cards Business Loans and Acceptances 1 All percentage changes are Y/Y; Average balances; May not add due to rounding 2 See non-GAAP reconciliations beginning on slide 43 27 27#28Business Banking Loans in $Bn CANADIAN BANKING COMMERCIAL 1 INTERNATIONAL BANKING COMMERCIAL & CORPORATE 1 $Bn and Constant Dollar Basis² 81 50 84 52 62 +11% 86 98 (1%) 88 90 98 97 95 40 62 +9% 55 53 56 99 52 31 32 33 35 35 35 +14% 39 58 59 40 40 57 40 96 57 40 in $Bn GLOBAL BANKING AND MARKETS 1 0% 132 132 94 126 123 123 18 20 0 20 17 221 +22% 56 56 (1%) 40 40 39 39 (1%) 113 112 105 106 102 (3%) Investment Grade³ 38% Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 38% 39% 40% 39% Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 41% 41% 41% 41% 41% 86% 86% 85% 84% 83% Non- Investment Grade³ 62% 62% 61% 60% 61% 59% 59% 59% 59% 59% 14% 14% 15% 16% 17% Investment Grade Non-Investment Grade4 1 All percentage changes are Y/Y; Represents Average Loans Outstanding (Business and government loans and acceptances); May not add due to rounding 2 See non-GAAP reconciliations beginning on slide 43 3 Refer to T33 in the Bank's 2023 Annual Report (Page 65) for mapping internal ratings scale to external rating agencies 4 Non-Investment grade includes non-investment grade, watch-list and default exposure 28#29Strong Deposit Growth REPORTED AVERAGE DEPOSITS BY SEGMENTS in $Bn 682 666 CB IB ■GBM ■GWM 699 685 624 591 538 340 337 344 353 308 294 261 Q4/23 REPORTED AVERAGE DEPOSIT MIX Notice²- Business 7% Term³- Business 22% Demand- Personal 2% $699 Bn 126 126 129 132 107 104 111 Demand'- Business 30% Notice² Personal 21% 156 170 182 182 179 182 134 32 37 39 34 34 33 32 2020 2021 2022 2023 Term- Personal 18% in $Bn CANADIAN BANKING Q2/23 Q3/23 Q4/23 REPORTED AVERAGE DEPOSITS BY BUSINESS LINE INTERNATIONAL BANKING4 GLOBAL BANKING AND MARKETS¹ Y/Y +10% Y/Y +17% 320 344 353 129 132 113 116 122 127 87 75 06 204 222 226 38 42 42 Q4/22 Q3/23 Q4/23 Q4/22 Q3/23 Q4/23 Y/Y +2% GLOBAL WEALTH MANAGEMENT Y/Y (11%) 37 33 32 90 179 179 182 17 16 15 20 17 17 Q4/22 Q3/23 Q4/23 Q4/22 Q3/23 Q4/23 Personal Non-Personal IB (Constant Dollar Basis) 5: +9% Y/Y 1 Deposits demand include all deposits for which we do not have the right to notice of withdrawal, generally chequing accounts 2 Deposits payable after notice include all deposits for which we require notice of withdrawal, generally savings accounts 3 All deposits that mature on a specified date, generally term deposits, guaranteed investments certificates and similar instruments 4 Includes deposits from banks 5 See non-GAAP reconciliations beginning on slide 43 29#30Strong Balance Sheet Metrics $Bn Q4/22 Q3/23 Q4/23 Capital Metrics CET1 Ratio 1,2 11.5% 12.7% 13.0% Tier 1 Capital Ratio 12 13.2% 14.6% 14.8% Total Capital Ratio 1,2 15.3% 16.9% 17.2% TLAC Ratio 1,2,3 27.4% 30.5% 30.6% Leverage Ratio 4.2% 4.1% 4.2% TLAC Leverage Ratio 3,4 8.8% 8.7% 8.6% CET1 Capital 1,2 53.1 55.8 57.0 Liquidity Metrics Liquidity Coverage Ratio5 119% 133% 136% Net Stable Funding Ratio6 High Quality Liquid Assets 111% 114% 116% 213.2 264.0 272.6 Balance Sheet Metrics Loan-To-Deposit Ratio? 116% 114% 110% Wholesale Funding/Total Assets (Spot) 21.6% 21.8% 20.6% Average Total Earning Assets 1,206.7 1,292.4 1,293.7 Average Total Net Loans and Acceptances 753.4 779.9 769.6 Average Deposits⁹ 648.4 684.6 699.2 1 2 2 3 4 Regulatory ratios and amounts reported as at Q3 and Q4 2023 are under Revised Basel III requirements and are not directly comparable to ratios and amounts reported in Q4 2022 Q3 and Q4 2023 regulatory capital ratios are based on Revised Basel III requirements as determined in accordance with OSFI Guideline-Capital Adequacy Requirements (February 2023). Prior year regulatory capital ratios were prepared in accordance with OSFI Guideline -Capital Adequacy Requirements (November 2018) This measure has been disclosed in this document in accordance with OSFI Guideline - Total Loss Absorbing Capacity (September 2018) 2023 leverage ratios are based on Revised Basel III requirements as determined in accordance with OSFI Guideline - Leverage Requirements (February 2023). Prior period leverage ratios were prepared in accordance with OSFI Guideline -Leverage Requirements (November 2018) 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) This measure has been disclosed in this document in accordance with OSFI Guideline - Net Stable Funding Ratio Disclosure Requirements (January 2021) This metric is calculated using Average Total Net Loans and Acceptances to Customers/Total Deposits of Canadian Banking, International Banking (Reported FX), Global Wealth Management, and Global Banking and Markets Refer to non-GAAP measures on page 20 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca Business line deposits excluding Group Treasury wholesale funding 30 599 8 9#31Macroeconomic Scenarios SELECT MACROECONOMIC VARIABLES USED TO ESTIMATE EXPECTED CREDIT LOSSES Alternative Scenario - Alternative Scenario - Base Case Scenario Optimistic Pessimistic As at Next 12 months October 31, As at July 31, As at October 31, As at July 31, As at October 31, As at July 31, Alternative Scenario - Very Pessimistic As at October 31, As at July 31, 2023 2023 2023 2023 2023 2023 2023 2023 Canada Real GDP growth, Y/Y % change Consumer price index, Y/Y % change Bank of Canada overnight rate target, 0.7 0.4 1.3 1.3 (2.2) (2.4) (4.3) (4.6) 2.8 2.9 2.8 3.1 1.8 2.0 6.4 6.5 4.8 4.9 4.8 5.1 3.6 3.8 5.8 6.0 average % Unemployment rate, average % 6.0 5.7 5.7 5.4 7.6 7.3 9.7 9.3 US Real GDP growth, Y/Y % change 1.0 0.3 1.5 0.7 (2.0) (2.7) (3.8) (4.4) Consumer price index, Y/Y % change 3.2 3.7 3.5 4.0 1.9 2.4 7.0 7.5 Target federal funds rate, upper limit, 5.3 5.4 5.4 5.5 4.2 4.3 6.3 6.5 average % Unemployment rate, average % 4.1 4.0 3.9 3.9 5.6 5.5 7.2 7.1 Global WTI oil price, average USD/bbl 78 78 84 84 68 67 62 62 62 62 Source: Refer to page 191 of the Consolidated Financial Statements in the Bank's 2023 Annual Report 31#3211 FOO 7654m 10 9 8 2022Q1 2022Q2 2022Q3 2022Q4 2023Q1 2023Q2 2023Q3 2023Q4 2024Q1 2024Q2 2024Q3 2024Q4 2025Q1 Macroeconomic Scenarios CANADA REAL GDP in $Tn 2.7 Range of Estimated Scenarios 2.6 2.5 2.4 2.1 22232 ~ ~ 2 Baseline (October 31, 2023) Baseline (October 31, 2022) 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 modelled estimate for the allowance for credit losses The following charts provide a quarterly breakdown of key macroeconomic variables used for our base case scenarios to calculate the 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 2026 Q4 CANADA UNEMPLOYMENT RATE (%) 2025Q2 2025Q3 Source: Refer to page 87 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report 2025Q4 2026Q1 2026Q2 2026Q3 2026Q4 2027Q1 2027Q2 2027Q3 2027Q4 2028Q1 2028Q2 3 4 2022Q1 2022Q2 5 2027 Q1 2027 2027 Q2 2027 Q3 2027 Q4 2028 Q1 2028 Q2 6 7 8 in $Tn and USD 24.0 23.0 22.0 21.0 20.0 19.0 18.0 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023.02 2023 Q2 วดาว 1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2 2025 Q3 2022Q3 2022Q4 2023Q1 2023Q2 2023Q3 2023Q4 2024Q1 2024Q2 2024Q3 2024Q4 2025Q1 2025Q2 2025Q3 U.S UNEMPLOYMENT RATE (%) 2025Q4 2026Q1 2026Q2 2026Q3 2026Q4 2027Q1 2027Q2 2027Q3 2027Q4 2028Q1 2028Q2 32 2025 Q4 U.S REAL GDP 2026 Q1 2026 Q2 2026 Q3 2026 Q4 2027 Q1 2027 Q2 2027 Q3 2027 Q4 2028 Q1 2028 Q2#33Commercial Real Estate Portfolio comprised of Commercial Real Estate, and Contractor loans which include Engineering & Project Management and Trade Contractors LOANS OUTSTANDING 1 ■Q4/22 Q3/23 Q4/23 23.1 26.6 27.1 Total Portfolio: $67.4Bn Y/Y: +11% Q/Q: +2% 14.7 14.7 15.4 11.2 12.7 12.2 4.5 4.4 4.6 2.8 3.2 3.3 4.6 4.7 4.8 Residential/Multi Family Industrial REITS² Office Retail Other³ • • HIGHLIGHTS Limited Q/Q portfolio growth primarily from Residential and Industrial subsectors with relatively stable fundamentals, representing 73% of the portfolio Geographically diversified across Canada, PAC, US and other regions, with US exposure largely to investment grade corporate borrowers Total exposure to Office subsector was $6.2Bn or 9% of portfolio (decreased from $6.7Bn or 10% last quarter), of which ~60% was investment grade facilities primarily to large, diversified firms BY GEOGRAPHY BY SEGMENT APAC Other 5% 3% US 12% Retail 5% Other³ 7% Office 7% Q4/23 (in $Bn) Canada Office (including REITS) $3.8 61% Residential APAC 0.9 15% PAC 13% Q4/23 $67.4Bn Canada 67% REITS² 18% Q4/23 $67.4Bn /Multi Family PAC 0.8 13% 40% US 0.4 6% Other 0.3 5% Total $6.2 100% Industrial 23% 1 May not add due to rounding 2 REITs include REITS-Industrial (7%), REITS-Retail (3%), REITS-Office (3%), REITS-Residential (3%) and REITs-Diversified (3%) 3 Other includes Engineering & Project Management and Trade Contractors 33#34Canadian Retail: Loans and Provisions' MORTGAGES 10 10 AUTO LOANS 152 89 78 83 37 41 39 50 2 1 01 11 76 89 65 45 63 (4) (5) 31 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 LINES OF CREDIT2 CREDIT CARDS 3 559 380 167 357 312 338 267 268 81 36 48 48 51 60 48 82 82 244 81 321 292 80 240 246 241 45 56 58 28 116 10 (6) Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 (55) Q1/22 (59) Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 PCLs on Impaired Loans as a % of average net loans (bps)4 Auto Loans $42 Lines of Credit² Credit Cards Total 5 $35 $8 $378 100% 64% 2% 94%6 Loan Balances Q4/23 Spot ($Bn) % Secured PCL as a % of average net loans (bps)4 Mortgages $290 100% 1 Includes Wealth Management 2 Includes Home Equity Lines of Credit and Unsecured Lines of Credit 3 Excluding one-time impact of fully provisioned write-offs, Q3/22 PCL ratio on impaired loans is 280 bps 4 Refer to page 136 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 5 Total includes other smaller portfolios 6 83% secured by real estate; 11% secured by automotive 34#35Canadian Residential Mortgages Asset yields on variable rate mortgages reprice with each change to Scotiabank's prime rate in $Bn (Spot Balances) 26% Insured 74% Uninsured Total Portfolio: $290 67% Fixed MORTGAGE PORTFOLIO 1 Total Portfolio: $290 33% Variable Mortgage Variable Portfolio Mortgages Total Outstanding Balance Uninsured Outstanding Balance Average LTV2 $290 $96 $215 $83 49% 57% CANADA UNINSURED MORTGAGE PORTFOLIO 3 FICO® DISTRIBUTION - UNINSURED PORTFOLIO 3 Average FICO® % of Portfolio 85% Score Uninsured Canada 799 74% GTA 801 85% GVA 804 85% 8% 5% 2% <620 620-680 681-720 >720 1 Includes Wealth Management 2 Weighted by mortgage balances and adjusted for property values based on the Teranet - National Bank National Composite House Price Index 3 FICO is a registered trademark of Fair Isaac Corporation 35#36Canadian Residential Mortgages in $Bn (Spot Balances) 161.6 22.2 MORTGAGE PORTFOLIO 1,2 Freehold Condos 84% ($245Bn) Freehold 57.4 139.4 Total Portfolio 1,2 $290Bn 30.8 16.0 3.5 41.4 27.3 Ontario BC & Territories Alberta 19.5 16.7 Quebec 11.3 9.6 2.8 0.3 0.7 11.0 8.9 Atlantic Manitoba & % of 55.7% 19.8% 10.6% 6.7% Provinces 3.9% Saskatchewan 16% ($45Bn) Condos 3.3% portfolio MATURITY SCHEDULE 2 GTA/GVA MORTGAGE ORIGINATIONS in $Bn (Spot Balances) Fixed ■Variable in $Bn (Spot Balances) 64.9 6.3 102.2 36.5 70.0 45.0 35.2 2.4 65.7 58.6 32.8 FY24 FY25 FY26 1Includes Wealth Management 2 Spot Balances at Q4/23, may not add due to rounding 17.0 25.0 5.8 11.2 0.8 FY27 FY28 FY29+ 3 Average LTV ratios for our uninsured residential mortgages originated during the quarter 4 $0.8Bn of the mortgage book is expiring FY29+, of which $0.1Bn are variable and $0.7Bn are fixed Q4/22 Q3/23 Q4/23 Greater Toronto Area Total Originations 3.5 2.1 2.0 Uninsured LTV3 63% 59% 59% Greater Vancouver Area Total Originations 1.35 0.8 0.8 Uninsured LTV3 62% 58% 59% 36#37International Retail: Loans and Provisions MEXICO CHILE CARIBBEAN AND CENTRAL AMERICA MARKETS WITH GREATER 148 237 201 138 132 129 158 104 111 103 102 137 133 139 154 133 WEIGHTING 122 106 119 109 121 136 102 98 124 TO SECURED 91 67 65 124 148 133 124 72 78 51 93 128 108 115 95 105 73 96 45 62 71 39 46 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 PERU COLOMBIA MARKETS 466 724 715 WITH 620 GREATER 364 353 375 384 318 454 502 645 307 302 590 617 WEIGHTING 379 389 352 ΤΟ UNSECURED 274 264 273 307 309 329 451 211 203 304 317 346 289 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Loan Balances Q4/23 Spot ($Bn) % Secured PCL as a % of average net loans (bps)1 PCLs on Impaired Loans as a % of average net loans (bps)1 Mexico $20 93% Chile Caribbean & CA Peru Colombia Total² $30 $14 $11 $6 $82 79% 76% 43% 39% 73% 1 Refer to page 136 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 2 Total includes other smaller portfolios 3 Includes benefit of loss sharing agreement with partner related to credit card program 37#38Retail 90+ Days Past Due Loans¹,2 CANADA³ Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Mortgages 0.12% 0.10% 0.09% 0.09% 0.11% 0.12% 0.14% 0.16% Personal Loans 0.44% 0.40% 0.42% 0.49% 0.56% 0.58% 0.63% 0.69% Credit Cards 0.69% 0.69% 0.65% 0.72% 0.70% 0.71% 0.61% 0.70% Secured and 0.17% 0.18% 0.16% 0.17% 0.20% 0.25% 0.22% 0.29% Unsecured Lines of Credit Total 0.17% 0.15% 0.15% 0.15% 0.18% 0.20% 0.22% 0.25% INTERNATIONAL Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Mortgages 2.20% 2.14% 2.16% 2.21% 2.20% 2.24% 2.33% 2.39% Personal Loans 3.33% 3.05% 3.03% 3.14% 3.41% 3.50% 3.60% 3.78% Credit Cards 1.88% 1.73% 1.99% 2.32% 2.37% 2.75% 2.79% 2.95% Total 2.42% 2.30% 2.34% 2.42% 2.47% 2.56% 2.64% 2.74% 1 Defined as: loan balance that is 90+ days past due, divided by the total loan balance, on a spot basis 2 Does not reflect impact of payment deferral programs 3 Includes Wealth Management 38#39NI ONIS SA UART I QUA TER) (# OF DAYS Trading Results 20 20 18 16 14 12 10 8 ΟΙ 6 4 2 1 TRADING LOSS DAY (Q4/23) TRADING REVENUE ($ MM) AND ONE-DAY TOTAL VAR (Q4/23) Average 1-Day Total VaR FY23: $ 15.7 MM $MM 40 40 30 20 10 10 0 -10 -20 0 -30 <0 56789 10 15 20 25 >25 Q4/23 DAILY TRADING REVENUES ($MM) 1-Aug-23 FY22: $13.5 MM 8-Aug-23 15-Aug-23 22-Aug-23 29-Aug-23 1-day total VaR 3-Oct-23 5-Sep-23 12-Sep-23 19-Sep-23 26-Sep-23 10-Oct-23 17-Oct-23 24-Oct-23 31-Oct-23 Actual Daily Revenue 39#40International Banking: Pacific Alliance¹ FINANCIAL PERFORMANCE AND METRICS ($MM) Reported (Constant Dollar Basis)2,3 Q4/23 Q3/23 Q4/22 Q/Q² Y/Y² Revenue $1,937 $1,985 $1,930 (2%) Expenses $944 $927 $929 2% 2% Pre-Tax, Pre-Provision Profit4 $993 $1,058 $1,001 (6%) (1%) GEOGRAPHIC DISTRIBUTION 7 as at Q4/23 Colombia 13% REVENUE $1.9Bn Mexico 37% Provision for Credit Losses $455 $458 $327 (1%) 39% Net Income Attributable to Equity Holders³ $412 $466 $585 (12%) (30%) Chile 30% Peru 20% Net Interest Margin 3,4 4.01% 3.93% 3.85% 8 bps 17 bps Risk Adjusted Margin 4,5 2.82% 2.74% 2.97% 8 bps Return on Equity3,4 12.5% 13.9% 15.1% (144 bps) (15 bps) (260 bps) Mexico 50% NIAEH 3,8 Productivity Ratio6 48.7% 46.4% 47.9% 236 bps 81 bps $412MM Chile Effective Tax Rate 23.0% 23.8% 11.3% (80) bps 1,167 bps 36% Peru REPORTED RETURN ON EQUITY (%) 17% Colombia 18.9% 11.3% 11.3% 5.3% 22.0% 14.4% 13.8% 23.0% 9% Mexico 38% 16.0% 10.3% AVERAGE EARNING ASSETS $162Bn 2021 Mexico 1 All figures exclude wealth management 3.3% 2022 Peru Chile (1.5%) 2023 Colombia Chile 37% Peru 17% 2 Current and prior period dollars, Y/Y and Q/Q growth rates (%) are on a constant dollar basis, while metrics and change in bps are on a reported basis 3 Refer to non-GAAP measures on page 20 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca 4 See non-GAAP reconciliations beginning on slide 43 5 Risk-Adjusted Margin calculated as (Net Interest Income less Provision for Credit Losses) / Average Core Earning Assets. See non-GAAP reconciliations beginning on slide 43 6 Refer to page 136 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 7 May not add due to rounding 8 Colombia NIAEH is -2% 40#41International Banking: CCA¹ FINANCIAL PERFORMANCE AND METRICS ($MM) as at Q4/23 Reported (Constant Dollar Basis)2,3 Q4/23 Q3/23 Q4/22 Q/Q² Y/Y2 Central Revenue $614 $611 $544 1% 13% America Expenses $344 $344 $344 GEOGRAPHIC DISTRIBUTION 7 18% REVENUE English Caribbean 67% Pre-Tax, Pre-Provision Profit4 $270 $267 $200 1% 35% $614MM Provision for Credit Losses $36 $27 $45 33% (21%) Net Income Attributable to Equity Holders³ $163 $164 $100 (1%) 62% Dominican Republic 15% Net Interest Margin 3,4 5.78% 5.81% 5.63% (3 bps) 15 bps Risk Adjusted Margin 4,5 5.30% 5.44% 5.02% (14 bps) 28 bps Return on Equity3,4 20.1% 20.4% 12.8% (30 bps) 732 bps Productivity Ratio 56.1% 56.5% 61.5% (41 bps) (533 bps) Central America 13% Dominican Republic 8% English Caribbean 79% NIAEH3 $163MM Effective Tax Rate 17.5% 20.0% 19.9% (247 bps) (233 bps) 17.6% 7.9% 4.9% 2021 REPORTED RETURN ON EQUITY (%) English Caribbean 1 All figures exclude wealth management 26.1% 8.5% 6.0% 2022 Dominican Republic 50.4% Central America 32% 10.1% 6.7% Dominican Republic 2023 15% Central America AVERAGE EARNING ASSETS $33Bn English Caribbean 54% 2 Current and prior period dollars, Y/Y and Q/Q growth rates (%) are on a constant dollar basis, while metrics and change in bps are on a reported basis 3 Refer to non-GAAP measures on page 20 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca 4 See non-GAAP reconciliations beginning on slide 43 5 Risk-Adjusted Margin calculated as (Net Interest Income less Provision for Credit Losses) / Average Core Earning Assets. See non-GAAP reconciliations beginning on slide 43 6 Refer to page 136 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 7 May not add due to rounding 41#42Impact of Foreign Currency Translation Average Exchange Rate Q4/23 Q/Q Y/Y US Dollar/Canadian Dollar Mexican Peso/Canadian Dollar Peruvian Sol/Canadian Dollar Colombian Peso/Canadian Dollar Chilean Peso/Canadian Dollar 0.736 (1.8%) (2.0%) 12.85 (0.8%) (14.7%) 2.766 1.2% (6.0%) 3,017.319 (5.4%) (10.8%) 655.072 8.7% (5.9%) Impact on Net Income ($MM except EPS) Net Interest Income Non-Interest Income² Total Revenue Non-Interest Expenses Other Items (Net of Tax)² Net Income Earnings Per Share (diluted) Impact by business line ($MM) Canadian Banking International Banking2 Global Wealth Management Global Banking and Markets Q/Q Y/Y (21) 165 19 63 (2) 228 (2) (141) 2 (56) (2) 31 - 0.03 1 18 52 3 6 55 5 5 Other² (30) (31) Net Income (2) 31 1 Includes the impact of all currencies 2 Includes the impact of foreign currency hedges 42 42#43Non-GAAP Reconciliations 43#44Reconciliation for non-GAAP Financial Measures All Bank: Net Interest Margin and Risk Adjusted Margin ($MM) Average total assets¹ Less: Non-earning assets Average total earning assets¹ Less: Trading Assets Securities purchased under resale agreements and securities borrowed Other deductions Average core earning assets¹ Net Interest Income Less: Non-core net interest income Core Net Interest Income Net Interest Margin All-Bank Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 1,332,897 1,380,008 1,390,459 1,401,515 1,409,861 126,213 118,465 111,261 109,143 116,190 1,206,684 1,261,543 1,279,198 1,292,372 1,293,671 ($MM) Average total assets Less: Non-earning assets Average total earning assets¹ Less: Caribbean and Central America Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 34,522 35,124 35,372 34,829 35,888 2,611 2,662 2,547 2,550 2,581 31,911 32,462 32,825 32,279 33,307 69,343 70,779 73,073 75,717 862,096 895,848 900,757 900,686 4,622 4,569 117,807 119,974 115,611 124,939 126,217 157,438 174,942 189,757 191,030 196,039 75,526 895,889 Trading Assets 14 16 16 14 0 Securities purchased under resale agreements and securities borrowed 81 109 117 134 139 Other deductions 3,550 3,566 3,267 4,466 4,580 Average core earning assets¹ 28,266 28,771 29,425 3,358 28,773 29,726 3,442 4,672 (122) (205) (204) (192) (197) 4,744 4,774 4,670 4,772 4,869 2.18% 2.11% 2.13% 2.10% 2.16% Net Interest Income Less: Non-core net interest income Core Net Interest Income Net Interest Margin 401 412 430 421 433 401 5.63% 412 5.68% 430 6.00% 421 5.81% 433 5.78% Less: Less: Provision for credit losses 529 638 709 819 1,256 Provision for credit losses 43 35 25 27 36 Risk Adjusted Net interest income on core earning assets¹ Risk Adjusted Margin 4,215 4,136 3,961 3,953 3,613 1.94% 1.83% 1.80% 1.74% 1.60% Risk Adjusted Net interest income on core earning assets Risk Adjusted Margin 358 5.02% 377 5.19% 405 394 397 5.65% 5.44% 5.30% International Banking Pacific Alliance ($MM) Average total assets¹ Less: Non-earning assets Average total earning assets¹ Q4/22 Q1/23 Q2/23 Q3/23 217,061 228,374 238,705 241,396 19,358 19,103 20,050 19,611 197,703 209,271 218,655 221,785 Q4/23 ($MM) Q1/23 Q2/23 Q3/23 238,343 Average total assets¹ 18,915 219,428 Less: Non-earning assets Average total earning assets¹ 18,640 18,071 21,552 21,692 142,886 152,769 161,979 165,198 Q4/22 Q4/23 161,526 170,840 183,531 186,890 182,558 20,195 162,363 Less: Less: Trading assets 5,369 5,132 6,059 6,271 Securities purchased under resale agreements and securities 2,433 3,033 2,868 borrowed Other deductions Average core earning assets¹ Net interest income 3,493 7,087 7,565 7,240 7,890 182,814 193,541 202,488 204,131 1,806 1,899 2,007 2,118 6,611 3,467 Trading Assets 5,314 Securities purchased under resale agreements and securities borrowed 8,023 201,327 2,137 Other deductions Average core earning assets¹ Less: Non-core net interest income Core net interest income Net interest margin Net Interest Income Less: 5,061 5,957 444 605 608 2,295 2,867 2,805 134,833 144,236 152,609 155,046 1,278 1,334 1,415 1,520 6,194 6,536 575 649 3,383 3,440 151,738 1,515 (73) (54) (27) 1,879 2,034 1,953 4.08% 4.00% 4.12% 8 2,110 4.10% 14 2,123 4.18% Non-core net interest income Core Net Interest Income (30) (50) (55) (18) (20) 1,308 1,384 1,470 1,538 1,535 Net Interest Margin 3.85% 3.81% 3.95% 3.93% 4.01% Less: Less: Provision for credit losses 355 Risk adjusted net interest income on core earning assets Risk adjusted margin 1,524 3.31% 404 1,549 3.18% 436 516 512 Provision for credit losses 298 350 398 465 455 1,598 3.24% 1,594 3.10% 1,611 3.18% Risk Adjusted Net interest income on core earning assets Risk Adjusted Margin 1,010 1,034 1,072 1,073 1,080 2.97% 2.84% 2.88% 2.74% 2.82% Canadian Banking ($MM) Average total assets¹ Less: Non-earning assets Average total earning assets¹ Less: Other deductions Average core earning assets¹ Core net interest income Net interest margin 31,010 412,300 2,562 2.47% Less: Provision for credit losses 163 Risk Adjusted Net interest income on core earning assets 2,200 218 2,168 218 2,122 307 700 2,161 1,862 Risk Adjusted Margin 2.10% 2.05% 2.08% 2.06% 1.79% Q4/22 Q1/23 Q2/23 Q3/23 445,670 450,040 450,634 450,192 4,112 4,035 3,957 4,066 441,558 446,005 446,677 446,126 26,191 27,284 28,655 30,123 415,367 418,721 418,022 416,003 2,363 2,386 2,340 2,468 2.26% 2.26% 2.30% 2.35% Q4/23 447,390 4,080 443,310 1 Average balances represent the average of daily balance for the period 44#45Reconciliation for non-GAAP Financial Measures Pre-Tax, Pre-Provision Profit ($MM) Reported Basis Adjusted Basis¹ Business Line Pre-tax, pre-provision profit Q4/22 Q3/23 Q4/23 Q4/22 Q3/23 Q4/23 Revenue 7,626 8,090 8,308 7,987 8,090 7,941 All-Bank Expenses 4,529 4,562 5,529 4,287 4,542 4,723 Pre-tax, pre-provision profit 3,097 3,528 2,779 3,700 3,548 3,218 Revenue 3,134 3,216 3,329 3,134 3,216 3,329 Canadian Banking Expenses 1,397 1,448 1,513 1,391 1,447 1,513 Pre-tax, pre-provision profit 1,737 1,768 1,816 1,743 1,769 1,816 Revenue 2,504 2,846 2,799 2,504 2,846 2,799 International Banking Expenses 1,364 1,491 1,522 1,355 1,481 1,512 Pre-tax, pre-provision profit 1,140 1,355 1,277 1,149 1,365 1,287 Revenue 1,289 1,336 1,332 1,289 1,336 1,332 Global Wealth Management Expenses 798 843 887 789 834 878 Pre-tax, pre-provision profit 491 493 445 500 502 454 Revenue 1,354 1,343 1,354 Global Banking and Markets Expenses 696 758 779 Pre-tax, pre-provision profit 658 585 575 Revenue 1,742 2,017 1,937 Pacific Alliance Expenses 835 936 944 Pre-tax, pre-provision profit 907 1,081 993 Caribbean and Revenue 546 601 614 Expenses 336 339 344 Central America Pre-tax, pre-provision profit 210 262 270 Reported Basis Adjusted Basis¹ Pre-tax, pre-provision profit Q4/22 Q3/23 Q4/23 Q4/22 Q3/23 Q4/23 2,718 2,851 2,799 2,718 2,851 2,799 1,472 1,487 1,522 1,462 1,477 1,512 1,246 1,364 1,277 1,256 1,374 1,287 1,930 1,985 1,937 929 927 944 1,001 1,058 993 ($MM) Business Line International Banking (Constant FX) Revenue Expenses Pre-tax, pre-provision profit Pacific Alliance Revenue (Constant FX) Expenses Pre-tax, pre-provision profit Caribbean and Central America (Constant FX) Revenue 544 611 614 Expenses Pre-tax, pre-provision profit 344 344 344 200 267 270 (SMM) Business Line All-Bank Revenue Expenses Pre-tax, pre-provision profit Reported Basis Adjusted Basis¹ Pre-tax, pre-provision profit FY23 FY22 FY23 FY22 32,307 31,416 31,940 31,777 19,131 17,102 18,263 16,787 13,176 14,314 13,677 14,990 1 Refer to non-GAAP measures on page 20 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca 45 45#46Reconciliation for non-GAAP Financial Measures International Banking: Return on Equity, NIAEH ($MM) Mexico Reported Basis ($MM) Return on Equity FY21 FY22 FY23 Return on Equity FY21 Reported Basis FY22 FY23 Chile Net Income Attributable to Common Shareholders 586 Total average common equity 3,093. Return on Equity 18.9% 745 3,393 22.0% 864 3,760 23.0% Net Income Attributable to Common Shareholders Total average common equity Return on Equity 605 841 639 5,365 5,844 6,189 11.3% 14.4% 10.3% ($MM) |($MM) Return on Equity FY21 FY22 FY23 Return on Equity FY21 FY22 FY23 Peru Colombia Net Income Attributable to Common Shareholders 301 382 418 Total average common equity 2,655 2,772 2,612 Net Income Attributable to Common Shareholders Total average common equity 68 44 -19 1,263 1,333 1,247 Return on Equity 11.3% 13.8% 16.0% Return on Equity 5.3% 3.3% -1.5% ($MM) ($MM) Return on Equity FY21 FY22 FY23 Return on Equity FY21 FY22 FY23 English Caribbean Dominican Republic Net Income Attributable to Common Shareholders 204 298 Total average common equity 1,158 Return on Equity 17.6% 1,141 26.1% 544 1,078 50.4% Net Income Attributable to Common Shareholders Total average common equity 50 57 68 628 671 672 Return on Equity 7.9% 8.5% 10.1% ($MM) Return on Equity FY21 FY22 FY23 Central America Net Income Attributable to Common Shareholders 67 83 93 Total average common equity 1,368 1,379 1,401 Return on Equity 4.9% 6.0% 6.7% ($MM) Pacific Alliance Return on Equity Q4/22 Reported Basis Q3/23 Q4/23 Net Income Attributable to Common Shareholders Total average common equity Return on Equity ($MM) Return on Equity Caribbean and Central America Net Income Attributable to Common Shareholders Total average common equity Return on Equity 527 13,880 15.1% 478 411 13,633 13,082 13.9% 12.5% Reported Basis Q4/22 Q3/23 Q4/23 110 160 162 3,405 3,105 3,201 12.8% 20.4% 20.1% ($MM) Reported Basis Constant FX Basis¹ Net Income Attributable to Equity Holders Pacific Alliance Q4/22 528 Q3/23 479 Q4/23 412 Q4/22 585 Q3/23 466 Q4/23 412 Caribbean and Central America 109 160 163 100 164 163 1 Refer to non-GAAP measures on page 20 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca 46#47Reconciliation for non-GAAP Financial Measures International Banking: PCLs, Revenues, Loans, Deposits ($MM) PCLS Q4/22 Reported Basis Q3/23 Q4/23 Q4/22 Constant Dollar Basis¹ Q3/23 Pacific Alliance 298 465 455 327 Caribbean and Central America 43 27 36 45 458 27 Q4/23 455 36 Revenue ($Bn) Q4/22 Q3/23 Q4/23 Q4/22 Q3/23 Q4/23 Latin America 1,929 2,213 2,158 2,146 2,209 2,158 C&CA 546 601 614 544 611 614 Asia 29 32 27 28 31 27 Average International Banking Q4/22 Q3/23 Q4/23 Q4/22 Q3/23 Q4/23 Loans ($Bn) Mortgages 44 53 52 48 51 52 Personal Loans 19 20 20 20 20 20 Credit Cards 8 9 9 8 9 9 Business Loans and Acceptances 90 96 94 95 96 94 Average International Banking Deposits ($Bn) Q4/22 Q3/23 Q4/23 Q4/22 Q3/23 Q4/23 Personal 38 42 42 41 42 42 Non-Personal 75 87 90 81 87 90 ($Bn) Reported Basis Constant Dollar Basis¹ Average International Banking Business Loans Investment Grade Non-Investment Grade Q4/22 Q1/23 Q2/22 Q3/23 Q4/23 37 39 40 39 39 Q4/22 39 Q1/23 40 Q2/22 Q3/23 Q4/23 40 39 39 53 56 57 57 56 56 58 57 57 56 1 Refer to non-GAAP measures on page 20 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca 47#48Reconciliation for non-GAAP Financial Measures ($MM) ($MM) Canadian Banking Q4/22 Q3/23 Reported Expenses 1,397 1,448 Q4/23 1,513 Canadian Banking Q4/22 Q3/23 Q4/23 Reported NIAEH 1,170 1,062 810 Amortization of Intangibles (6) (1) Amortization of Intangibles 4 1 Adjusted Expenses¹ 1,391 1,447 1,513 Adjusted NIAEH¹ 1,174 1,063 810 ($MM) ($MM) Global Wealth Management Q4/22 Q3/23 Q4/23 Global Wealth Management Q4/22 Q3/23 Reported Expenses 798 843 887 Reported NIAEH 361 366 Q4/23 327 Amortization of Intangibles (9) (9) Adjusted Expenses 789 834 (9) 878 Amortization of Intangibles 7 7 6 Adjusted NIAEH¹ 368 373 333 ($MM) ($MM) International Banking Constant FX Q4/22 Q3/23 Q4/23 International Banking Constant FX Q4/22 Reported Expenses 1,472 1,487 1,522 Reported NIAEH 705 Q3/23 638 Q4/23 562 Amortization of Intangibles (10) (10) (10) Amortization of Intangibles 8 7 Adjusted Expenses¹ 1,462 1,477 1,512 Adjusted NIAEH¹ 713 645 8 570 ($MM) Other Q4/22 Q3/23 Q4/23 ($MM) Reported Expenses 274 22 828. Other Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Restructuring charge and severance provisions Consolidation of real estate and contract costs Impairment of non-financial assets Support costs for the Scene+ loyalty program Adjusted Expenses¹ (85) (354) Reported NIAEH (603) (913) (323) (299) (759) (87) Canada recovery dividend 579 - (133) 56 22 (346) Divestitures and wind-down of 340 - operations 41 Restructuring charge and 66 severance provisions ($MM) Reported Canadian Banking FY22 FY23 Y/Y FY22 Adjusted¹ FY23 Consolidation of real estate and Y/Y contract termination costs Revenues 12,030 12,843 6.8% 12,030 Impairment of non-financial assets (319) 258 63 273 12,843 6.8% Expenses 5,388 5,867 8.9% 5,366 5,863 9.3% Support costs for the Scene+ 98 FY23 Operating Leverage (2.1%) (2.5%) loyalty program NCI (1) (3) Global Wealth Management FY22 FY23 Y/Y FY22 FY23 Y/Y Revenues 5,381 5,291 (1.7%) 5,381 5,291 (1.7%) Adjusted NIAEH¹ (100) (334) (323) (299) (487) Expenses 3,259 3,350 2.8% 3,223 3,314 2.8% FY23 Operating Leverage (4.5%) (4.5%) International Banking FY22 FY23 Y/Y FY22 FY23 Y/Y Revenues 9,727 11,098 14.1% 9,727 11,098 14.1% Expenses 5,212 5,928 13.7% 5,173 5,887 13.8% FY23 Operating Leverage 0.4% 0.3% Global Banking and Markets FY22 FY23 Y/Y FY22 FY23 Y/Y Revenues 5,172 5,552 7.3% Expenses 2,674 3,062 14.5% FY23 Operating Leverage (7.2%) Reported Reported ($MM) Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 ($MM) Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Global Banking and Markets Global Wealth Management Net Income Attributable to Common Shareholders Total average common equity Return on Equity 484 518 400 14,260 15,535 15,587 13.4% 13.2% 10.5% 433 13,310 12.9% 414 13,287 12.4% Net Income Attributable to Common Shareholders Total average common equity Return on Equity 361 385 352 366 326 9,701 9,835 9,732 9,743 9,797 14.8% 15.5% 14.8% 14.9% 13.2% 1 Refer to non-GAAP measures on page 20 of the Management's Discussion & Analysis in the Bank's 2023 Annual Report, available on http://www.sedarplus.ca 48#49John McCartney, Senior Vice-President 416-863-7579 [email protected] Investor Relations Contacts Sophia Saeed, Vice-President 416-933-8869 [email protected] Rebecca Hoang, Director 416-933-0129 [email protected] 49 49