#1Investor Presentation October 2020 Scotiabank®#2Caution Regarding 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 2019 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; 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; 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 and 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 2019 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 2019 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: Additional Information Contact Information + 20 20 45 25 33 36 39 48 48 55 62 62 65 70 70 3#4. • Leading bank in the Americas with competitive scale in high quality growth markets Scotiabank Only universal bank with full presence in all Pacific Alliance countries Overview • Strong credit quality; well provisioned . • Well capitalized with strong liquidity ratios Attractive dividend yield with established track record of dividend growth Expected to return to FY19 ROE levels by FY22 4#5Leading Bank in the Americas¹ Core markets: Canada, US, Mexico, Peru, Chile and Colombia 7th largest bank by assets¹ in the Americas Mexico (BBB) #5 Bank Peru (BBB+) #3 Bank Q3 2020 Change Full-Service, Universal Bank Scotiabank2 YTD YTD/YTD Canada (AAA) #3 Bank Canada Mexico Peru Chile United States Colombia Revenue Net Income Return on Equity Operating Leverage Productivity Ratio $23,634MM +2% $5,023MM -28% 10.2% (370 bps) +1.1% n.a. 52.9% +20 bps (AA+) Caribbean Top 15 FBO Uruguay Total Assets $1.2T +10% Colombia (BBB-) Ranking by Market Share³ #6 Bank Wholesale Operations Canada #3 USMCA USA USA Top 15 FBO UK Mexico #5 Singapore Peru #3 Australia PAC Ireland Hong Kong SAR Chile Colombia #4 #6 China Brazil Chile (A+) South Korea Malaysia Earnings by Market2,4 Other- C&CA #4 Bank India Japan 7% 3% PAC 16% 64% Canada 10% U.S.A 1 Ranking by asset as at August 20, 2020, Bloomberg; 2 Adjusted for acquisition and divestiture-related amounts, impact of additional pessimistic scenario in ACLs, Derivative Valuation Adjustment, and impairment charge on software asset. Operating Leverage excludes divested operations; 3 Ranking based on market share in loans as of June 2020 for PAC (incl. M&A), as of May 2020 in Canada for publically traded banks; 4 Adjusted net income attributable to equity holders of the Bank for the 9 months ended July 31, 2020 5#6Well-Diversified Business with Strong Returns Earnings by Business Line 1,2,3 Wealth Management 18% Global Wealth Management Caribbean and Central America Earnings by Market¹,2 Europe, Asia, Brazil, Australia Other C&CA 7% Chile 3% Canadian 4% 18% Banking P&C Personal & Commercial Peru 7% 35% Banking Q3 2020 YTD Mexico EARNINGS MIX 52% Q3 2020 YTD 5% $5.2B³ U.S. EARNINGS MIX $5.2B³ 10% Wholesale Banking Global Banking and Markets 30% 30% Adjusted Return on Equity 1,2 by Business Line International Banking P&C 17% 24.7% 16.7% 14.5% 15.1% 14.5% Canada 64% 3-year average ROE 14.5% 13.9% 15.6% 10.2% 5.8% International Banking Global Wealth Management Global Banking and Markets All Bank Canadian Banking 1Net income attributable to equity holdersor for the 9 months ended July 31, 2020; 2 Adjusted for acquisition and divestiture-related amounts, impact of additional pessimistic scenario in ACLs, Derivative Valuation Adjustment, and impairment charge on software asset; 3 Excluding Other segment and Colombia (loss) 6#7Business Lines Activity Business Line Products Personal & Commercial Banking Canadian Banking Mortgages Auto Loans Commercial Loans • Personal Loans • Credit Cards International Banking • Mortgages Auto Loans Commercial Loans • Personal Loans • Credit Cards Wealth Management 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 $1,574 NIAEH¹ ($MM) % All-Bank¹ $1,822 35% $865 $964 17% 18% 30% % Target 35-40% 25-30% ~15% 15-20% Productivity 46.7% 52.6% 61.6% 44.2% Ratio¹ ROE1 14.5% 5.8% 13.9% 15.6% Total Assets² ($B) $359.2 $215.6 $26.1 $415.6 Employees³ 18,409 50,403 7,148 2,408 1 Adjusted figures for the 9 months ended July 31, 2020 2 Average balance for Q3/20 3 As at July 31, 2020 7#8Why Invest in Scotiabank? Leading bank in the Americas Diversified exposure to high quality growth markets · , Increasing scale and market share in core markets • • • Six core markets: Canada, US, Mexico, Chile, Peru and Colombia ~90% of earnings from the Americas • Unique Americas footprint provides diversified exposure to higher growth, high ROE banking markets 225 million people in the Pacific Alliance countries comprise the 6th largest economy in the world Competitive scale and increasing market share in core markets Competitive advantages in technology, risk management, and funding versus competitors • Increased scale in Wealth Management and P&C businesses via M&A • $ Improved earnings quality, lower risk profile • Simplified footprint lowers operational risk and regulatory costs . ~70% of earnings from stable P&C banking and wealth businesses Strong Canadian risk management culture with strong capabilities in AML and cybersecurity Significant IT investment driving growth in digital banking High levels of technology investment supports digital banking strategy to increase digital sales and adoption Named "Bank of the Year" in Canada (2019) Named "Best Bank in North America for Innovation in Digital Banking (2020) 8#9Focused on Higher Return Markets More Attractive Banking ROEs in Canada and Latam (Latest Reporting Period) 20% 15.3% 14.3% 15% 12.5% 10% 5% 0% 11.0% 10.0% 3-year average ROE 10.1% 8.0% 7.8% 5.6% Canada Latam Asia ~80% of All-Bank earnings Return on equity in latest reporting period for the leading bank by market share for loans in each country. Canada and US figures are average for five largest and 10 largest market share banks in each country, respectively Sources: Bloomberg LLP, Company Financial Reports. 2.4% S US Europe 9#10Increasing Banking Penetration Banking Penetration (%)¹ 150 100 Growth Markets Brazil Chile Colombia C&CA 50 PAC Peru ⚫ Cambodia Mexico Czech Republic Mature Markets Canada U.K. Spain U.S. Bubble size represents nominal GDP Scotia P&C Markets Scotia Americas Wholesale Markets Other Markets (Included for comparison purposes) $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 GDP per Capita (US$)² 1 Source: World Bank Open Data 2018. Banking Penetration is defined as account ownership at a financial institution or with a mobile-money-service provider (% of population ages 15+) 2 Source: World Bank Open Data 2018. GDP per capita is nominal gross domestic product divided by mid year population 10 10#11Economic Outlook in Core Markets Real GDP Growth Forecast (2019-2021) Real GDP (Annual % Change) Forecast (1) 2010-19 Country 2020 2021 Average Q1 Q2 Q3F Q4F FY Q1F Q2F Q3F Q4F FY Canada 2.2 -0.9 -13.0 -4.7 -4.2 -5.7 -0.9 12.6 2.8 2.9 4.1 U.S. 2.3 0.3 -9.0 -3.5 -3.6 -3.9 -1.0 9.7 3.8 4.1 4.0 Mexico 2.7 -1.4 -18.7 -10.6 -5.0 -9.1 1.9 5.0 3.3 2.4 3.0 Peru 4.8 -3.5 -30.2 -6.7 -4.8 -11.5 -0.8 31.4 3.8 6.0 8.7 Chile 3.6 0.2 -14.1 -9.0 2.2 -5.2 1.2 14.9 7.6 -1.6 5.1 Colombia 3.8 1.4 -15.7 -9.3 -6.2 -7.5 -3.2 14.1 5.8 3.4 5.0 PAC Average 3.7 -0.8 -19.7 -8.9 -3.5 -8.3 -0.2 16.4 5.1 2.6 5.5 Source: Scotiabank Economics. 1 Forecasts as of October 14, 2020 for Canada and the U.S.; Forecasts as of October 4, 2020 for Mexico, Peru, Chile, and Colombia 11#12COVID-19: Pacific Alliance Cases Incidence of COVID-19 (confirmed new cases / 100k population) in Canada and Pacific Alliance countries (PAC) continues to be lower than U.S. and U.K. COVID-19 New Cases 100 7-day ma, 000s 90 80 70 60 50 40 30 20 10 0 Mar Apr -U.S. May Jun Canada Jul Aug Sep Oct PAC UK Sources: Scotiabank Economics, John Hopkins University. COVID-19 New Cases / 100K Population 30 7-day ma 25 20 15 10 5 O Mar Apr •U.S. May Jun Canada Jul Aug -PAC Sep Oct UK Sources: Scotiabank Economics, John Hopkins University. 12 12#13Customer Assistance Programs (As of September 30th, 2020) Active Deferral Product Types¹ Canada Mortgages Requests¹ Active Total Exposure¹ % Current following Deferral Expiry 1,2 #('000s) % ($B) % 57 57.0% $15.07 92.1% 99.0% Credit Cards 9 9.0% $0.05 0.3% 86.1% Personal Loans³ 34 34.0% $1.25 7.6% 93.5% Total/Average 100 100% $16.37 100.0% 98.0% Change from August 31, 2020 -$22.6 International Mortgages 51 6.5% $5.17 60.9% 92.4% Credit Cards 468 59.7% $1.33 15.7% 88.2% Personal Loans³ 265 33.8% $1.99 23.4% 90.9% Total/Average 784 100.0% $8.49 100.0% 91.2% Change from August 31, 2020 -$3.5 Deferral Expiry Schedule ($B) Canadian Banking 16.4 11.4 International Banking Commercial & Small Business ($B) Active Deferral Requests #('000s) Active Total Exposures ($B) 8.5 3.8 Canada International 0.7 $1.1 1.2 $6.6 2.3 3.3 1.2 1.5 1.3 Total 1.9 $7.7 Sep-20 Oct-20 Nov-20 Dec-20 2021 Sep-20 Oct-20 Nov-20 Dec-20 0.1 2021 Change from August 31, 2020 -$1.4 1 As at September 30th 2020 2 Canadian payments % includes accounts that have not yet completed first billing cycle since expiring 390% of active deferred Personal Loans in Canada are Auto Loans, 20% of active deferred Personal Loans in International are Auto Loans 4 Figures relate to active deferral exposures and exclude amounts related to covenant relief requests 13#14Q3 2020 Financial Performance $MM, except EPS Q3/20 Y/Y Q/Q Reported • Net Income $1,304 (34%) (2%) . Pre-Tax, Pre Provision Profit $3,716 +8% +3% Diluted EPS $1.04 (31%) +4% • Revenue $7,734 1% (3%) Expenses $4,018 (5%) (8%) • Productivity Ratio 52.0% (300 bps) (280 bps) Core Banking Margin 2.10% (35 bps) (25 bps) PCL Ratio¹ 136 bps +88 bps +17 bps • PCL Ratio on Impaired Loans¹ 58 bps +6 bps +2 bps Adjusted² • Net Income $1,308 (47%) (5%) . Pre-Tax, Pre Provision Profit $3,738 (3%) +2% Diluted EPS $1.04 (45%) Revenue $7,689 (3%) (3%) Year-Over-Year highlights Adjusted EPS down 45%² Pre-tax, pre-provision profit (PTPP) down 3%², up 2% excluding divestitures Adjusted Revenue down 3%² or flat excluding impact of divestitures Core banking NIM down 35 basis points o Excess balance sheet liquidity and margin compression in business lines Adjusted Expenses declined 4%² or -1.6% excluding impact of divestitures YTD PTPP up 7%² ex. divestitures Adjusted YTD operating leverage of -0.5%², +1.1%² excluding divestitures Adjusted Net Income³ By Business Segment ($MM) Expenses $3,951 (4%) (8%) Productivity Ratio 51.4% (30 bps) (260 bps) -53% -93% Y/Y Y/Y4 +60% +6% Y/Y Y/Y 914 761 433 53 600 312 332 374 CB IB GWM GBM 1 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures 2 Refer to Non-GAAP Measures on slide 45 for adjusted results 3 After non-controlling interests 4Y/Y growth rate is on a constant dollars basis Q3/19 Q3/20 14#15Earnings and Dividend Growth Strong track record of stable and predictable earnings and growing dividends Earnings per share (C$)1,2 $3.31 60 10 11 23 +8% $7.14 CAGR Dividend per share (C$) $1.96 19 $3.91 20YTD +6% CAGR Total shareholder return³ Scotiabank 1.9% Big 5 Peers (ex. Scotiabank) 6.3% 5.2% 9.8% 10.0% 8.4% 5 Year 10 Year 20 Year $3.49 $2.70 09 10 11 12 13 14 15 16 17 18 19 20 YTD 1 Reflects adoption of IFRS in Fiscal 2011.2 Excludes notable items for years prior to 2016. For 2016 onwards, results adjusted for acquisition and divestiture-related amounts, impact of additional pessimistic scenario in ACLS, Derivative Valuation Adjustment, and impairment charge on software asset. 3 As of July 31, 2020 15 15#16Strong Capital Position CET1 Ratio +17 bps -7 bps 11.3% +28 bps +31 bps -26 bps 10.9% Q2/20 Reported Earnings (1) Dividends Lower RWA ECL Transitional Pension Capital Relief Q3/20 Reported Internal capital generation Strong Capital Levels 14.8% 2.5% 1.1% 14.2% 14.6% 14.0% 14.9% 2.0% 2.1% 2.1% 2.1% 1.1% 1.1% 1.5% 1.0% 11.2% 11.1% Q3/19 1 Net Income Available to Equity Holders 11.4% 10.9% 11.3% Q4/19 Q1/20 Q2/20 Q3/20 CET1 Tier 1 Tier 2 16 16#17Digital Banking Strength ✓ Winner of The Banker “Innovation in Digital Banking North America” award¹ #1 ranking in Canada Online Banking Satisfaction Study (J.D. Power 2020) Leading mobile banking app in Canada² Digital account opening and sales capabilities that reduces processing time by up to 75% in PAC Implemented various digital solutions to provide financial support and advisory to our customers during COVID-19 Tangerine, Canada's leading digital bank, continues to see momentum as it evolves from being a Savings Bank to an Everyday Bank Digital Retail Sales³ Digital Adoption4 +2,700 bps +2,000 bps 46 39 38 33 28 29 22 26 15 2016 2017 2018 2019 Q3/20 2016 2017 2018 2019 Q3/20 Goal >50% Goal >70% 1 By the Banker magazine, a Financial Times publication 2 Based on weighted-average Apple Store and Google Play ratings (August 23, 2020) 3 Canada: F2017 22%, F2018 26%, F2019 26% PACS: F2017 13%, F2018 19%, F2019 29% 4 Canada: F2017 36%, F2018 38%, F2019 42% PACS: F2017 20%, F2018 26%, F2019 35% 17#18Technology Strategy Co $ Build a strong and scalable platform foundation . Cloud-first strategy for automation and speed Rebalance core technology spending towards modernization Maintain consistent investment in technology Technology Investment Growth Rate (YoY Change) 21% rate Moderating to 12% 14% steady-state growth 11% 9% 7% 2014 2015 2016 2017 2018 2019 • Technology Investment ~11% of revenue ($3.6B) Common systems • Software re-use, best practice-sharing • Consistent software design • Customer-focused micro-services Analytics on real-time data • Strong cyber-security foundation 18#19• Environment, Social & Governance (ESG) Highlights from 2019/2020 Environment Social Governance $100 billion mobilization commitment by 2025 to reduce the impacts of climate change Issued inaugural Green Bond (US$500MM). Proceeds to fund assets under the Scotiabank Green Bond Framework Sustainable Finance Group launched within Global Banking and Markets (GBM) Greenhouse gas (GHG) reduction target of -10% achieved two years early (from 2016 baseline); set new target of 25% reduction by 2025 Climate Change Risk Assessment tool implemented in corporate & commercial lending to assess clients' physical & transition climate risks MEMBER OF REFINITIV Dow Jones TOP 100 COMPANY 2020 Diversity and Inclusion Index Sustainability Indices In Collaboration with RobecoSAM INGLOVAL COMPACT • Comprehensive COVID-19 response: Customer relief measures, added personal days and wellness benefits for employees. Committed $15 million to support communities most at-risk, including ongoing support of hospitals and healthcare professionals Social Initiatives: Signed the BlackNorth Initiative CEO Pledge, UN Women's Empowerment Principles and UN LGBTI Standards for Business Conduct Women's Initiatives: $3 billion in funding committed over the first three years of The Scotiabank Women Initiative TM to advance women-led businesses in Canada Philanthropy: $100 million invested as part of our global philanthropy program United Nations . • • • UNCDP TCFD Global Compact WOMEN DRIVING SUSTAINABLE ECONOMIES Top 1% of global financial institutions for Corporate Governance in Dow Jones Sustainability Index 46% of our directors are female. We first established a Board diversity policy in 2013 Separate CEO and Chair roles since 2004. Appointed third independent Chair in 2019 Board focus on cybersecurity, anti-money laundering, conduct and culture issues, keeping the Bank safe Best Bank in North America for Innovation in Digital Banking by The Banker Magazine TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES EQUATOR PRINCIPLES PRI 19#20Business Line Overview Canadian Banking 20 20#21Canadian Banking Top 3 bank in personal & commercial banking in Canada • Canadian Banking provides a full suite of financial advice and banking solutions, supported by an excellent customer experience, to over 11 million Retail, Small Business, Commercial Banking customers. Through Tangerine, Canadian Banking also provides digital banking solutions to over 2 million customers. Business Mix Retail 75% Residential Mortgages 62% Financial Results $MM Q3/20 Y/Y Q/Q Reported Net Income³ $429 (53%) (10%) REVENUE MIX1,2 $2.5B LOAN MIX1 $356B Credit 2% 19% 25% Cards 17% Business and Personal Loans Commercial AVERAGE Pre-Tax, Pre Provision Profit $1,328 (10%) +2% Revenue $2,500 (6%) (1%) Expenses $1,172 (2%) (4%) PCLS $752 +212% +12% Government Loans Adjusted Net Income³ ($MM) and NIM4 (%) Productivity Ratio 46.9% +210 bps (140 bps) Net Interest Margin4 2.26% (18 bps) (7 bps) PCL Ratio5 0.85% +57 bps +8 bps 2.44% 2.36% 2.41% 2.33% 2.26% PCL Ratio Impaired Loans5 0.36% +6 bps 0 bps Adjusted³ 914 902 908 481 433 Net Income³ $433 (53%) (10%) Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Pre-Tax, Pre Provision Profit $1,333 (10%) +2% Expenses $1,167 (2%) (4%) Medium-Term Financial Objectives PCLS $752 +212% +12% Target6 NIAT Growth³ 5%+ Productivity Ratio <44% Operating Leverage Positive Productivity Ratio 46.7% +210 bps (140 bps) PCL Ratio5 PCL Ratio Impaired Loans5 0.85% 0.36% +57 bps +8 bps +6 bps O bps 1 For the three months ended July 31, 2020; 2 Reflects the adoption new leases accounting standards, IFRS16; 3 Adjusted Net income attributed to equity shareholders; 43-5 year target from 2020 Investor Day; 4 Net Interest Margin is on a reported basis; 5 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures; 63-5 year target from 2020 Investor Day; 21#22Canadian Banking: Loan Portfolio High quality retail loan portfolio: ~93% secured . High Quality Residential Mortgage Portfolio 81% Real Estate Secured Lending 。 39% insured; remaining 61% uninsured has an LTV of 53%1 。 Mortgage business model is "originate to hold" 。 New originations² in Q3/20 had average LTV of 64% 。 Majority is freehold properties; condominiums represent approximately 14% of the portfolio • Market Leader in Auto Loans o $37.9 billion retail auto loan portfolio with 7 OEM relationships (3 exclusive) o Prime Auto and Leases (~91%) o Stable lending tenor with contractual terms for new originations averaging 77 months (6.5 years) with projected effective terms of 53 months (4.5 years) • Prudent Growth in Credit Cards 。 $6.6 billion credit card portfolio represents ~2% of domestic retail loan book and 1.0% of the Bank's total loan book o Organic growth strategy focused on payments and deepening relationships with existing customers 5% Unsecured DOMESTIC RETAIL LOAN BOOK³ $303.6B 1 LTV calculated based on the total outstanding balance secured by the property. Property values indexed using Teranet HPI data 2 New originations defined as newly originated uninsured residential mortgages and have equity lines of credit, which include mortgages for purchases refinances with a request for additional funds and transfer from other financial institutions 3 Spot Balance as of July 31, 2020 2% Credit Cards 12% Automotive 22 22#23Canadian Banking: Residential Mortgages High quality, diversified portfolio; Credit fundamentals remain strong ⚫ Four Distinct Distribution Channels: All adjudicated under the same standards o 1. Broker (~60%); 2. Branch (~18%); 3. Mobile Salesforce (~21%) and 4. eHOME (~1%) FICO® Distribution - Canadian Uninsured Portfolio 1,2 Q3/19 Q2/20 Q3/20 62% Canada Average FICO® Score Canada 788 GTA 790 Total Originations ($B) Uninsured LTV 14.0 10.5 13.0 64% 64% 64% GVA 789 14% 10% 10% 4% Greater Toronto Area Total Originations ($B) Uninsured LTV Greater Vancouver Area Total Originations ($B) Uninsured LTV 4.5 3.3 3.7 63% 62% 62% 1.6 1.4 1.5 61% 62% 63% < 635 636-706 707-747 748-788 > 788 Canadian Mortgage Portfolio³: $238B (Spot balances as at Q3/20, $B) $124.6 $15.9 39% Freehold 1 - $204B (86%) Condos - $34B Insured (14%) $108.7 $45.1 $11.7 $31.0 $3.7 $33.4 $27.3 Ontario BC & Territories Alberta $16.6 $14.6 Quebec $11.0 $10.8 Atlantic Provinces % of portfolio 52.3% 19.0% 13.1% 7.0% 4.6% 1 FICO® distribution for Canadian uninsured portfolio based on score ranges at origination. FICO is a registered trademark of Fair Isaac Corporatio 2 LTV calculated based on the total outstanding balance secured by the property. Property values indexed using Teranet HPI data 3 Includes Wealth Management Total Portfolio³: $238 billion $9.6 $8.9 Manitoba & Saskatchewan 4.0% 61% Uninsured 23#24Automotive Finance Canada's leader in automotive finance Provide personal and commercial dealer financing solutions, in partnership with seven leading global automotive manufacturers in Canada • Portfolio remained flat year-over-year¹ Personal up 1.4%, Commercial down 7.6% Commercial 14% AVERAGE Exclusive Relationships MAZDA VOLVO JAGUAR/LAND ROVER ASSET MIX Near-Prime 8% Retail $44.0B1 Semi-Exclusive Relationships* 79% 100% Secured HYUNDAI CHRYSLER GM TESLA Prime Retail * 1 to 2 other financial institutions comprise Semi-Exclusive relationships Market Share Prime Retail Market Share² 63 % 37 dow Near-Prime Retail Market Share3 78 % 22 % Commercial Floorplan Market Share4 73 % 2286 27 % 1 For the three months ended July 31, 2020; 2 CBA data as of April 2020, includes RBC, CIBC, Canadian Western Bank, National Bank, TD, Scotiabank, Laurentian Bank; 3 DealerTrack Portal data, includes all Near-Prime Retail providers on Dealer Track Portal, data for July 2020 originations; 4 Includes BMO, CIBC, RBC, Scotiabank, TD, HSBC, Canadian Western Bank, Laurentian Bank, data as of March 2020 24#25Business Line Overview International Banking 25 25#26International Banking ⚫ International Banking serves more than 11 million customers primarily in Latin America and the Caribbean with a full range of personal and commercial financial services. Core markets are the Pacific Alliance countries of Mexico, Peru, Chile and Colombia Business Mix Financial Results Asia Business Loans $MM² Q3/20 Y/Y Q/Q 57% Reported C&CA 21% REVENUE¹ $2.6B Latin 77% America Credit Cards 6% LOAN MIX1 Net Income³ $26 (96%) (85%) $157B Pre-Tax, Pre Provision Profit $1,180 (21%) (4%) 13% Personal Loans Revenue 24% $2,570 (16%) (4%) Residential Expenses $1,390 (11%) (4%) Mortgages PCLS $1,278 189% 27% 3,6 Adjusted Net Income 4.51% 4.51% ($MM) and NIM (%) Productivity Ratio 54.1% +260 bps 4.51% Net Interest Margin4 3.99% (52 bps) (29 bps) 4.28% 3.99% PCL Ratio5 3.33% +208 bps +55 bps 761 725 147 158 615 PCL Ratio Impaired Loans5 1.49% +12 bps +4 bps 59 614 567 556 197 Adjusted5 53 197 -1 52 Net Income³ $53 (93%) (73%) Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Ex. Divested Ops Medium-Term Financial Objectives Divested Ops Net Income - Ex Divested Ops.³ Pre-Tax, Pre Provision Profit $52 (91%) (73%) $1,226 (21%) (4%) Expenses $1,344 (11%) (4%) PCLS $1,278 189% 27% NIAT Growth6 Target' 9%+ Productivity Ratio 52.3% +250 bps (20 bps) PCL Ratio5 3.33% +208 bps +55 bps Productivity Ratio Operating Leverage <50% Positive 1 For the 3 months ended July 31, 2020; 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 Attributable to equity holders of the Bank; 4 Net Interest Margin is on a reported basis; 5 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures; 6 Excluding divestiture impact; 73-5 year target from 2020 Investor Day 26 PCL Ratio Impaired Loans5 1.49% +12 bps +4 bps#27PAC Fundamentals Driving Growth Strong Governance Democratic countries with open economies Independent central banks with inflation targets Free trade agreements and free-floating currencies • Business-friendly environments Sound Macro Environment • Diversified economies with strong GDP growth Resilience to economic and political cycles Investment Grade- rated Low Debt/GDP ratios with lower fiscal deficits compared to G7 • Increasing adoption of banking services Favourable Demographics • 225 million people with median age of 30 years Strong domestic consumption • Much lower banking penetration compared to Canada Among the fastest growing smartphone markets in the world • Considerable growth in middle class 27 27#28Scotiabank in Mexico Including all Business Segments Footprint Customers Employees Branches1 23.1% ~3.5 million ~12,900 ~592 Balance and Market Position Loan Market Average Average Loans Share4 Deposits 7.8% $33 $26 billion billion Market Position by Loans4 13.8% 13.4% 12.5% 7.8% 7.4% 4.4% 3.3% 1.9% citibanamex 8 banregio BBVA Banorte Santander Banamex Scotiabank HSBC Inbursal Bajio Regio Financial Total NIAT 2,5 Performance ROE³ Productivity³ BBVA B BANORTE $371 11.2% 53.9% million NIAT5 Productivity Ratio +20% 63.0% CAGR 666 579 465 337 58.6% 55.4% 55.0% Operating Leverage 1.5% 7.5% 6.9% -0.9% 2016 2017 2018 2019 All figures in CAD$ Constant currency 2016 2017 2018 2019 2016 2017 2018 2019 1 Includes bank and wealth branches; does not include 177 Credito Familiar branches 2 Adjusted; for the LTM ended July 31, 2020 not adjusted for currency 3 Adjusted; for the LTM ended July 31, 2020 4 Source: CNBV as of June 2020 5 After NCI on an adjusted basis 28#29Scotiabank in Peru Including all Business Segments Footprint Customers¹ Employees¹ Branches1 Market Position by Loans4 33.1% 4.0 million 12,000 314 Balance and Market Position Loan Market Share4 Average Average Loans 19.7% 17.6% 12.0% Deposits 17.6% $22 $19 billion billion Financial Total NIAT 2,5 ROE 3 Productivity³ Performance BCP BCP BBVA BBVA Scotia Interbank $554 16.2% 35.4% million NIAT5 Productivity Ratio Operating Leverage +12% CAGR 40.0% 810 7.9% 39.3% 688 572 604 6.8% 5.0% 37.5% 2016 All figures in CAD$ Constant currency 1 Including subsidiaries 2017 2018 2019 2 Adjusted; for the LTM ended July 31, 2020 not adjusted for currency 3 Adjusted; for the LTM ended July 31, 2020 4 Market share as of June 2020. Scotiabank includes SBP, CSF and Caja CAT 5 After NCI on an adjusted basis 35.2% 1.8% 2016 2017 2018 2019 2016 2017 2018 2019 29 29#30Scotiabank in Chile Including all Business Segments Footprint Customers¹ Market Position by Loans4 Employees Branches1 >3 million ~9,000 162 18.6% 16.3% 14.3% 14.0% 14.0% Balance and Market Position Loan Market Average Loans Average 9.8% Share4 Deposits 14.0% $44 $23 billion billion Financial Total NIAT 2,5 ROE 3 Performance Productivity³ B Itaú $367 6.2% 43.2% Santander Chile BCI Scotiabank Estado Itaú million NIAT5 Productivity Ratio Operating Leverage 381 339 +28% 53.6% CAGR 718 515 2016 2017 2018 2019 All figures in CAD$ Constant currency 1 Includes affiliates & consumer microfinance 2 Adjusted; for the LTM ended July 31, 2020 not adjusted for currency 3 Adjusted; for the LTM ended July 31, 2020 4 Market share as of June 2020. Local view, exclude offshore loans. Source: CMF 5 NIAT Before NCI 49.5% 44.7% 43.4% -2.3% 13.3% 8.5% 4.3% 2016 2017 2018 2019 2016 2017 2018 2019 30#31Scotiabank in Colombia Including all Business Segments Footprint Customers¹ Employees¹ Branches1 26.1% 3.1 million ~9,000 188 Balance and Market Position Loan Market Share4 Average Loans Average Deposits 5.8% $12 $11 billion billion Market Position by Loans4 16.7% 12.1% 10.3% 6.2% 5.8% 4.2% Financial Total NIAT 2,6 ROE 3 Productivity³ Performance BBVA 1 Bancolombia Davivienda Bogotá 5 BBVA Occidente Scotiabank Popular -$2 -0.3% 58.5% Colpatria million NIAT6 73 38 +53% CAGR Productivity Ratio 139 54.5% 53.4% 52.6% 85 50.3% 2016 2017 2018 2019 All figures in CAD$ Constant currency 1 As of November 2019 2 Adjusted; for the LTM ended July 31, 2020 not adjusted for currency 3 Adjusted; for the LTM ended July 31, 2020 4 Market share as of June 2020 Operating Leverage 1.6% -1.8% -2.4% -6.4% 2016 2017 2018 2019 2016 2017 2018 2019 5 Members of AVAL Group: Banco de Bogotá, Banco de Occidente, Banco Popular and Banco AV Villas. AVAL is 2nd in market share in terms of Loans (25%) and 1st in Deposits (27%) 6 After NCI on an adjusted basis 31#32Other 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 and 7 of the Leeward Islands • Dominican Republic: #4 bank Acquired Banco Dominicano del Progreso in 2019 Thailand: 6% interest in TMB Bank • Reduced investment in Thailand in Q1/20 resulting ~6% minority interest in TMB Bank China: ~18% interest in Bank of Xi'an . • CAD $877MM carrying value as of July 31, 2020 CAD $496MM of net income for twelve months ended October 31, 2019 32 32#33Business Global Wealth Line Overview Management 33#34Global Wealth Management Global Wealth Management is focused on delivering comprehensive wealth management advice and solutions to clients across Scotiabank's footprint Business Overview Financial Results AUA AUM Employees¹ $503B $293B ~7,200 $MM, except AUM/AUA Reported Q3/20 Y/Y Q/Q Net Income³ $321 +6% +6% Return on Equity 1,2 14.3% Operating Leverage 1,2 3.0% Countries¹ Pre-Tax, Pre Provision Profit $435 +5% +6% 14 Revenue $1,135 +1% 2,3 Adjusted Net income ²,³ ($MM) and ROE² (%) Expenses $700 (3%) (2%) PCLS $1 N/A N/A 13.5% 13.6% 13.7% 13.8% 14.3% Productivity Ratio 61.7% (170 bps) (170 bps) 332 312 314 318 314 AUM ($B) $293 (1%) +6% 1 332 311 312 318 314 AUA($B) $503 +2% +5% Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Adjusted² Ex. Divested Ops Medium-Term Financial Objectives ■Divested Ops Net Income³ $332 +6% +6% Pre-Tax, Pre Provision Profit $450 +5% +5% Target4 Earnings Growth 8%+ Productivity Ratio <65% Expenses PCLS $685 (3%) (2%) $1 N/A N/A Productivity Ratio 60.3% (190 bps) (160 bps) Operating Leverage Positive 1Figures as of July 31, 2020 or for the 3 months ended July 31, 2020; 2 Adjusted for Acquisition-related costs and impact of additional pessimistic scenario; 3 Attributable to equity holders of the Bank 43-5 year target from 2020 Investor Day 34#35Global Wealth Management Strong investment performance, increasing scale Award-Winning Investment Management Dynamic Funds MD Invest with advice. MD Financial Management JARISLOWSKY FRASER GLOBAL INVESTMENT MANAGEMENT #2 in Canadian retail mutual fund net sales ✓ Over 100 mutual fund industry performance awards since 2017 (Scotia Funds & Dynamic) ✓"Straight A❞ scorecard in the 2020 Principles for Responsible Investment report (Jarislowsky Fraser) Award-Winning Advisory ✓ #2 in MoneySense Magazine's 2020 Best Online Brokers in Canada (Scotia iTrade) ✓ #2 bank-owned brokerage firm in the 2020 Investment Executive Brokerage Report Card (ScotiaMcLeod) Investment Performance Highlights 79% of assets in the top two quartiles over five- year period - 1832 AUM +16% CAGR ASSET MANAGEMENT AUA +7% CAGR 302 497 404 75% of core funds in the top two quartiles over five- year period JARISLOWSKY FRASER 193 GLOBAL INVESTMENT MANAGEMENT 2016 2019 2016 2019 35#36Business Line Global Banking Overview and Markets 36#37Global Banking and Markets ⚫ Full-Service Wholesale Bank 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 4% Global Equities Financial Results Business Banking 43% 6% 54% 15% $MM GEOGRAPHIC REVENUE¹ $1.5B REVENUE BY BUSINESS LINE1 $1.5B Reported 36% US Q3/20 Y/Y Q/Q Net Income² $600 +60% +15% 42% FICC Pre-Tax, Pre Provision Profit $925 +88% +10% 2,3 Adjusted Net Income ²,³ ($MM) and ROE³ (%) Revenue $1,545 +43% +6% 17.5% Expenses $620 +5% 1% 13.8% 12.8% 14.0% 15.4% PCLS $149 N/A (4%) Productivity Ratio 40.1% (1,460 bps) (210 bps) 523 600 405 451 374 PCL Ratio4 Q1/20 Q2/20 Q3/20 PCL Ratio Impaired Loans4 0.50% 0.13% +51 bps -4 bps +14 bps +4 bps Q3/19 Q4/19 Medium-Term Financial Objectives NIAT Growth Productivity Ratio Operating Leverage Target5 ~5% ~50% Positive 1 For the 3 months ended July 31, 2020; 2 Attributable to equity holders of the Bank; 3 Adjusted for impact of additional pessimistic scenario; 4 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures; 53-5 year target from 2020 Investor Day 37 37#38GBM in US and LatAm Delivering the full bank to meet our Americas clients' needs Revenue Wholesale bank in the US: Corporate & Investment US1 LatAm¹ Banking, Capital Markets, $1,896 million >$1,000 million Cash Management and Trade Finance Top 15 foreign bank $43 billion Average Loans > $40 billion organization (FBO) in the US • Client list focused on S&P $57 billion Average Deposits ~$17 billion 500, investment grade corporates $777 million Total NIAT $590 million Current sectors of strength • include: Power & Utilities and 46.2% Productivity Energy. Focus areas for growth include Consumer /Industrial/Retail (CIR), 5 Offices Technology, and Healthcare 36.3% • 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 BROADCOM. USD 8,000,000,000 Senior Notes Joint Bookrunner IEnova ✓ IE INFRAESTRUCTURA ENERGÉTICA USD 800,000,000 4.750% Notes due 2051 Joint Bookrunner Cubico CELSIA CAOBA INVERSIONES USD 340,000,000 Multicurrency Structured Finance Joint Bookrunner, Lead Arranger, Structuring Bank, sole Hedge Provider, Exchange Agent, Admn. And Intercreditor Agent Republic of Chile USD 1,458,000,000 2.450% Notes due 2031 EUR 500,000,000 Reopening of 1.625% Notes due 2025 Joint Bookrunner suzano USD 750,000,000 3.750% Notes due 2031 Sustainability Linked Notes & Cash-Neutral Cascade Tender Offer of Notes Global Coordinator, Joint Bookrunner and Dealer Manager 1 As presented in the 2020 Investor Day; figures for fiscal 2019 38#39Risk Overview 39#40Risk Snapshot RWA Breakdown¹ ■Credit Risk Credit Exposure by Country 2,3 64% ■ Canada ■ Chile ■ U.S. Credit Exposure by Sector 1,2 Real Estate and Construction 5.9% 2% Financial Services Wholesale and Retail 5.1% 4.4% ■ C&CA 4% 11% $431B 87% ■Operational Risk $611B1 Energy 2.9% 5% Other International Other 5% 2.8% ■Mexico ■Market Risk 5% Technology and Media 2.8% 7% 8% ■ Peru Utilities 2.3% ■ Colombia Automotive 2.3% Personal & Commercial Lending Canadian Banking 1,2 International Banking1,2 Agriculture 2.3% Transportation 1.7% Food and Beverage 1.5% Mining 1.2% Health Care 1.0% 67% ■ Secured ■ Secured Hospitality and Leisure 0.9% 6% $318B 94% ■ Unsecured 33% $68B ■ Unsecured Sovereign 0.9% Forest Products 0.5% Metals 0.4% Chemicals 0.3% 1 As at July 31, 2020 2% of total loans and acceptances 3 As at October 31, 2019. 40 40#41Well Provisioned • $7.4 billion in total ACLs • 56% increase ($2 billion) in performing Total ACLs ($MM) 7,403 6,079 1,958 +45% 5,273 5,145 5,095 1,717 1,749 1,663 1,607 ACLS over the past 2 quarters. 5,445 • Adequate coverage for future net write- 4,362 3,524 3,482 3,488 offs Total Impaired ACLs ($MM)1 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Performing ACLS Impaired ACLS Total Performing ACLs ($MM) 5,445 +22% 4,362 3,524 3,482 3,488 1,749 1,663 1,607 1,717 1,958 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 1 Includes allowances for credit losses on Off-Balance Sheet exposures and acceptances, debt securities and deposits with financial institutions +56% 41#42Regulatory Guidance on Provisioning OSFI BSIF BANK FOR INTERNATIONAL SETTLEMENTS IFRS TM "... ECL frameworks are not designed to be applied mechanistically. Banks should use the flexibility inherent in these frameworks to take account of the mitigating effect of the extraordinary support measures related to Covid-19." - OSFI, April 3, 2020. "...the Committee expects ECL estimates to reflect the mitigating effect of significant economic support and payment relief measures...” - Basel Committee on Banking Supervision, April 2020. "...the measurement of ECLs are required to be based on reasonable and supportable information that is available...without undue cost of effort". IFRS, March 27, 2020. EUROPEAN CENTRAL BANK BANKING SUPERVISION "...avoid excessively procyclical assumptions in their ECL estimations during the COVID-19 pandemic." European Central Bank, April 1, 2020. BANK OF ENGLAND PRUDENTIAL REGULATION AUTHORITY "... ECL should be based on the most robust, reasonable and supportable assumptions in the current environment in order to enhance consistency and reduce the risk of firms recognising inappropriate levels of ECL..." Bank of England, May 22, 2020 42#431.75% 1.75% 1.50% 1.25% 1.00% 0.92% 0.75% 0.50% 0.25% 0.00% 2001 2002 2003 2004 1.27% 2005 Historical PCL Ratios on Impaired Loans 1.50% 1.25% 1.00% 0.75% 0.50% 0.25% 0.00% 0.31% 0.30% 0.27% 0.28% 0.22% 0.20% 0.19% 0.23% 1.75% 1.50% 1.41% 1.25% 1.00% 0.77% 0.75% 0.50% 0.25% 0.00% 2001 2004 2005 0.44% 0.23% 0.23% 0.23% 0.25% 0.18% 2005 2006 2006 2007 2006 2007 2008 ALL BANK 1,2 0.57% 0.59% 0.47% 0.25% 0.34% 0.36% 0.32% 0.40% 0.42% 0.50% 0.45% 0.43% 0.49% 0.56% 0.24% 0.14% 0.11% 0.12% INTERNATIONAL BANKING 1.00% 0.90% 0.86% 0.75% 0.75% CANADIAN BANKING1 2013 2013 2014 2015 2016 0.37% 0.35% 0.28% 0.23% 0.18% 0.23% 0.23% 0.28% 0.29% 0.24% 0.28% 0.34% 1 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures 22002: Included $454 million related to the Bank's exposure to Argentina; 2009: Higher PCLs driven by economic conditions, event distributed across business lines. Higher general allowance and sectoral allowance (automotive related) 2014 2015 2016 2017 1.27% 1.24% 1.26% 1.21% 1.29% 1.29% 43 2018 1.44%#44Canadian Retail: Loans and Provisions' MORTGAGES AUTO LOANS 224 216 96 85 85 11 1 0 0 14 2 78 84 94 99 105 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 LINES OF CREDIT² 169 164 96 72 80 70 73 87 74 73 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 PCL as a % of avg. net loans (bps) Mortgages Loan Balances Q3/20 Spot ($B) % Secured $238 100% 1 Includes Wealth Management. PCL excludes impact of additional pessimistic scenario 2 Includes Home Equity Lines of Credit and Unsecured Lines of Credit 3 Includes Tangerine balances of $6 billion and other smaller portfolios 481% secured by real estate; 13% secured by automotive Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 CREDIT CARDS 1002 896 402 381 385 339 379 377 445 401 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 PCLs on Impaired Loans as a % of avg. net loans (bps) Auto Loans Lines of Credit² Credit Cards Total $39 100% $33 $7 $3183 63% 3% 94%4 44#45International Retail: Loans and Provisions Markets with Greater Weighting to Unsecured PERU COLOMBIA 2.5x 3.0x 447 1127 416 1242 1290 970 939 1552 545 549 473 471 531 372 471 439 402 491 424 470 395 361 455 579 542 420 406 377 1 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 MEXICO CHILE Caribbean & CA 2.6x 1.9x 2.5x3 Markets with Greater 216 570 157 300 1993 5073 550 591 556 Weighting to Secured 457 250 267 218 208 246 251. 321 279 159 155 160 191 187 178 157 141 228 231 238 203 163 148 190 231 221 150 154 175 156 165 138 170 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q2/19 Q3/19 Q4/19 Q1/201 Q2/20 Q3/20 Q2/19 Q3/19 Q4/19 Q1/201 Q2/20 Q3/20 PCL as a % of avg. net loans (bps) PCLs on Impaired Loans as a % of avg. net loans (bps) Loan Balances Q3/20 Mexico Peru Chile Colombia Caribbean & CA Total² Secured ($B) $10 $4 $20 $2 $10 $46 Unsecured ($B) $2 $6 $6 $5 $3 $22 Spot Total ($B) $12 $10 $26 $7 $13 $68 1PCL excludes impact of additional pessimistic scenario 2 Total includes other smaller portfolios 3 Excludes impact of divested operations 45 45#46Sectors Most Impacted by COVID-191 Canada Real Estate: Office and Retail C&CA $B %IG Total Loans ($B) 11% Mexico 55% Office REIT $1.0 69% 3% $8.5B Office Real Estate $3.3 44% 11% U.S. (1.3%) Retail REIT $1.3 97% 7% Retail Real Estate $2.9 56% Other 1% 12% Europe Total² $8.5 59% Latin America Canada Other Hospitality & Leisure 23% 9% $636.5B Energy - E&P and Oilfield Services: 1.5% Real Estate - Office and Retail: 1.3% Transportation - Air Travel: 0.5% O Hospitality & Leisure: 0.8% Total COVID-19 High Impact: 4.1% 1 Sectors which have experienced the greatest disruption in normal business activities and impact to revenue due to the COVID-19 pandemic (including, but not limited to, government-mandated closures) relative to other sectors 2 May not add due to rounding 40% U.S. $B %IG C&CA Hotels $4.2 26% $5.4B (0.8%) 16 % Cruise Lines $0.3 0% 4% Latin Gaming $0.9 1% America 8% Total² $5.4 20% Mexico Mexico Canada Latin America 18% 6% C&CA 4% 6% $3.0B Other 12% (0.5%) Transportation: Air Travel $B %IG Aircraft Finance $1.4 99% Airlines $0.4 3% Airports $1.2 76% 54% Europe Total $3.0 76% 46#47Energy - E&P and OFS Exposure¹ Total Exploration & Production (E&P) Canadian E&P* U.S. E&P Oilfield Services (OFS) Total E&P and Oilfield Services Exposure² Loans and Acceptances Outstanding ($B) 8.3 3.6 1.2 1.5 9.82 % of Total E&P and OFS % of Total Loans and Acceptances Outstanding % Investment Grade 85% 1.3% 47% 37% 0.6% 63% 12% 0.2% 15% 15% 0.2% 6% 100% 1.5% 41% *Decline in Canadian E&P Investment Grade vs. Q2 2020 related to downward rating migration of the portfolio Total Loans and Acceptances Outstanding reduced by $1.2Bn (11%) vs. Q2 · 41% is rated investment Grade. 49% of Total Energy (including Midstream and Downstream) exposure is Investment Grade • • Outlook has improved due to the recent increase in oil prices Exploration & Production Canada (49%) 4.8 C&CA (0%) Majority of non-investment grade exposure is to secured reserve- based loans or sovereign owned/controlled entities 0.2 E&P and OFS 0.4 Europe (0%) Exposure by • Oilfield Services Geography2 · Majority of non-investment grade exposure is secured. Focused on companies with stronger liquidity and balance sheets $9.8B 0.6 • ACL coverage in E&P and OFS beyond Stage 3 Added substantially to Stage 1&2 ECL in Q2 and Q3 through expert credit judgement. US exposure has material subordinated debt as a first loss tranche and is largely secured Asia (93%) (%IG) 2.5 Latin America (35%) 1.3 U.S. (13%) 1 As of July 31, 2020. Excludes Midstream and Downstream 2 May not add due to rounding 47#48Treasury and Funding 48#49COVID-19 Response Maintained elevated liquidity and access to funding markets • Maintained elevated levels of liquidity, well in excess of regulatory requirements • o LCR of 141%, +9% Q/Q and +18% Y/Y o Pacific Alliance countries ended Q3 with LCRs of 160-180% o HQLA of $227B, +$40B Q/Q and +$67B Y/Y, is substantially comprised of Level 1 assets Reduced wholesale funding and market sourced funding utilizing excess liquidity o Discontinued incremental participation in central bank funding programs o Deposit growth reduced need for wholesale funding • Q3 term issuance activity included TLAC and covered bond issues o $1.7B of bail-inable senior and $0.6B of bail-inable structured notes to support TLAC build 。 US$ 1.25B Fixed Rate Resetting Perpetual Subordinated Additional Tier 1 Capital notes o Self-issued $7.5B of covered bonds to be available to pledge to the Bank of Canada term repo facility 49 49#50Funding Strategy Diversified funding sources • Increase contribution from customer deposits Continue to reduce wholesale funding utilization while building TLAC 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 Funding Programs¹ US Debt & Equity Shelf (senior/subordinated debt, preferred and common shares) Limit USD 40 billion Global Registered Covered Bond Program (uninsured Canadian mortgages) Limit CAD 100 billion EMTN Shelf Limit USD 20 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 7.5 billion Halifax ABS shelf (unsecured lines of credit) Limit - CAD 7 billion Principal at Risk (PAR) Note shelf Limit CAD 6 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 maturity1,6,7 12% 26% Senior Notes Asset-Backed Commercial Paper³ 2% 27% Bearer Deposit Notes, Commercial Paper & Short-Term Certificate of Deposits Bail-inable Notes 2% $221B 1% Asset-Backed Securities -14% Covered Bonds -12% Mortgage Securitization4 -4% Subordinated Debt5 Deposits from Banks² TERM FUNDING MATURITY TABLE (EXCLUDING SUB DEBT AND MORTGAGE SECURITIZATION) (CANADIAN DOLLAR EQUIVALENT, $B) $25 3 3 199 $20 8 1 == 11 $28 7 $22 4 $13 $11 5 20 4 18 8 8 < 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, as of Q3/20. 7 May not add to 100% due to rounding. 51#52Deposit Overview Strong growth in personal & business and government deposits PERSONAL DEPOSITS (SPOT, CANADIAN DOLLAR EQUIVALENT, $B) $244 $222 $223 $224 $198 $201 $211 $225 $225 $235 $200 $215 $204 PERSONAL DEPOSITS • All Q/Q growth from Canada • 3Y CAGR 7.1% • Impacted by liquidity injected into the system by central banks and government relief programs Important for both relationship purposes and regulatory value Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 BUSINESS & GOVERNMENT DEPOSITS1 (SPOT, CANADIAN DOLLAR EQUIVALENT, $B) $179 $172 $170 $197 $174 $... Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 $197 $211 $221 $223 $227 $263 3Y CAGR 16.4% Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 $270 • BUSINESS & GOVERNMENT Continuing to leverage relationships to grow deposits 1 Calculated as business & government deposits less wholesale funding as per Wholesale Funding Sources table in the MD&A, adjusted for Sub Debt • Focusing on operational, regulatory friendly deposits Impact from government relief programs 52 62#53Q3/17 Q4/17 Q1/18 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Wholesale Funding Utilization Declining reliance on wholesale funding, particularly short-term WHOLESALE FUNDING / TOTAL ASSETS 24.2% 23.7% 23.1% 18.9% REDUCTION IN WHOLESALE FUNDING DRIVEN BY SYSTEM LIQUIDITY Ended incremental participation in central bank wholesale funding programs as system liquidity drove deposit growth o Continued access to term senior and capital wholesale funding markets Q2/19 MONEY MARKET WHOLESALE FUNDING / TOTAL WHOLESALE FUNDING 37.4% 35.6% 39.7% Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 29.8% Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 REDUCTION IN MONEY MARKET FUNDING Absorbing central bank system liquidity via lower short term funding balances o Primarily driven by lower certificate of deposits 53#54Liquidity Metrics Well funded Bank with very strong liquidity • ⚫ Liquidity Coverage Ratio (LCR) 。 Maintained elevated levels of liquidity, well in excess of regulatory requirements 。 Supported by central bank liquidity related to pandemic response o LCR of 150-200% in Pacific Alliance countries 141% 132% 128% 125% 124% 125% 123% 125% 127% Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 • High Quality Liquid Assets (HQLA) 。 Substantially comprised of Level 1 assets 。 Strong growth: +$40B Q/Q and +$67B Y/Y $227 $188 $158 $158 $160 $165 $168 $138 $144 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 54#55Appendix 1 Core Markets: Economic Profiles#56COVID-19: Government Responses Policy Action Canada United Mexico Peru Chile Colombia States Policy Rate Cuts 150 bps 150 bps 275 bps 200 bps 125 bps 250 bps (Since March 1, 2020) Fiscal & Financial Measures (% of GDP) Liquidity program 17.5% 13.5% 0.7% 12.0% 11.5% 2.8% Key Measures Wage and payroll support programs Payment deferral programs Small business and sectoral programs Loan guarantees Household income supplementary funds Retirement savings withdrawals Tax holidays Source: Scotiabank Economics. As at October 13, 2020. 56#57Canadian Economy Diverse sources of growth with a strong balance sheet 22.4% Finance, Insurance, & Real Estate 14.4% Other 3.6% Transportation & Warehousing 6.4% Professional, Scientific, & Technical Services 7.2% CANADIAN GDP BY INDUSTRY (May 2020) Public Administration -12.0% Real GDP Growth Health & Education 7.3% 10.1% Wholesale & Retail Trade 8.9% Manufacturing 7.6% Mining and Oil & Gas Extraction Construction 3 N ANNUAL % CHANGE C GDP Forecast 2020: -5.7% GDP Forecast 2021: +4.1% General Government Net Debt % OF GDP U.S. Canada Eurozone U.K. Japan 2010-2018 2019-2021f Sources: Scotiabank Economics, Haver Analytics, Statistics Canada. Forecasts as of August 4, 2020. Government Financial Deficits 0 -5 (10.7) -10 168.9 (12.7) (12.7) (13.6) (14.7) 142.7 (15.9) -15 (16.6) 106.7 107.0 94.2 85.9 -20 49.0 49.2 % OF GDP (23.8) -25 GE UK IT FR JN CA* Adv. US ST Canada Germany U.K. OECD France U.S. Italy Japan Econ. * Canadian government net debt obtained from Scotiabank Economics' Federal Economic and Fiscal Snapshot (July 8, 2020). * Canadian federal deficit reflects Scotiabank Economics' forecast as of Aug. 4, 2020. Sources: Scotiabank Economics, IMF WEO (June 2020 estimates), CBO. 57 57 Sources: Scotiabank Economics, IMF Fiscal Monitor (April 2020).#58Mexican Economy Diverse economy • The Mexican economy reflects a solid mix of commodities, goods production, and services Trade remains dominated by the U.S., but Mexico's diversification agenda is underpinned by 13 free-trade agreements with 47 countries that account for 40% of global GDP and include all G7 countries GDP Forecast 2020: -9.1% GDP Forecast 2021: +3.0% Contributions to Mexican GDP Growth y/y % change 16.3% Finance, Insurance, & Real Estate 16.0% Other 3.3% Natural Resources 6.5% Transportation & Warehousing 5.9% Health & Education MEXICAN GDP BY INDUSTRY* (Q1 2020) 17.4% Wholesale & Retail Trade 15.7% Manufacturing 6.4% Mining and Oil & Gas Extraction 6.5% Construction 1.9%/ Professional, Scientific, & Technical Services 4.1% Public Administration * Q2-2020 real GDP growth -18.9% y/y. Industry GDP breakdown not yet available for Q2-2020. Top 5 Trading Partners* 1 -4 65432-07 2 3 4 5 -1 -2 -3 Other* Investment -5 17 Real GDP 18 Net Exports Government *Statistical discrepancy, subject to revision. Sources: Scotiabank Economics, Haver Analytics. 19 Inventories Consumption 20 Germany 3% South Korea 3%| Canada 4% China 10% Others 21% United States 60% * Trade data updated as of Q1-2020 58#59Peruvian Economy Resilient economic fundamentals Peru's important resource sectors are increasingly balanced by stronger service-sector activity and solid economic fundamentals Peru has 16 free-trade agreements with 49 countries that account for 66% of global GDP Investment is making a consistently strong contribution to GDP, which should make solid growth rates more sustainable in the future 11.5% Manufacturing 10.4% Wholesale and Retail Trade 53.0%- Other PERUVIAN GDP BY INDUSTRY (Q12020) 12.7% Mining, Oil, & Gas 4.7% Construction 2.0% Electricity & Water 5.8% Natural Resources GDP Forecast 2020: -11.5% GDP Forecast 2021: +8.7% Contributions to Peruvian GDP Growth 8 y/y % change 6 4 2 0 -2 Net Exports -4 -6 Investment Consumption Inventories Government Real GDP -8 17 18 19 Sources: Scotiabank Economics, Haver Analytics. 20 Top 5 Trading Partners* Others 43% China 28% United States 16% Canada 4% 4% Brazil South Korea 5% * Trade data updated as of Q1-2020 59#60Chilean Economy Advanced economy with wide-ranging trade links • • Chile's mix of economic activities reflects its status as an advanced market economy Chile's diversified trading relationships are supported by 23 free-trade agreements with 60 countries that account for 73% of global GDP Investment has been a strong contributor to growth in Chile, which should underpin future productivity gains as the economy rebounds from recent social difficulties GDP Forecast 2020: -5.2% GDP Forecast 2021: +5.1% Contributions to Chilean GDP Growth 8 y/y % change 6 15.6% Finance, Insurance, & Real Estate 8.6% Other 1.8% Restaurants & Hotels 8.2% Transportation & Warehousing 3.3% Natural Resources CHILEAN GDP BY INDUSTRY (Q12020) 19.2% Housing & Personal Services 9.0% Wholesale & Retail Trade 10.3% Manufacturing 12.7% Mining and Oil & Gas Extraction 6.6% Construction 4.7% Public Administration Top 5 Trading Partners* 4 2 0 -2 -4 -6 17 Net Exports Investment Consumption 18 Sources: Scotiabank Economics, Haver Analytics. Inventories Government Real GDP 19 20 20 Others 36% China 31% South Korea 3% United States Brazil 6% Japan 6% 17% * Trade data updated as of Q1-2020 60 60#61Colombian Economy Strong underlying momentum Services account for a rising share of Colombian GDP compared with traditional strengths in extractive industries Colombia continues to build on its 11 free-trade agreements with 46 countries that account for 41% of global GDP Rising consumption, supported by public spending, reflects an expanding middle class as growth gains momentum and converges toward the economy's underlying potential GDP Forecast 2020: -7.5% GDP Forecast 2021: +5.0% Contributions to Colombian GDP Growth 13.9% Finance, Insurance, & Real Estate 9.1% Other 6.6% Natural Resources 2.9% Information & Communication 2.4% Arts & Entertainment COLOMBIAN GDP BY INDUSTRY (Q1 2020) 7.1% Professional, Scientific, & Technical Services 17.2% Wholesale, Retail Trade, Accommodation & Food Services 15.2% 11.6% Manufacturing 8.0% Mining and Oil & Gas Extraction 6.0% Construction Public Administration Top 5 Trading Partners* 8 Other* y/y % change Government 6 4 2 0 -2 Net Exports Consumption Investment Real GDP -4 17 18 19 20 *Statistical discrepancy, subject to revision. Sources: Scotiabank Economics, Haver Analytics. United States Others 42% 28% Germany 3% China 18% Brazil Mexico 5% 6% * Trade data updated as of Q1-2020 61#62Appendix 2 Canadian Economic Fundamentals#63Canada: Housing Market Strength Strong demand continues to confront insufficient supply G7 Population Growth 2.0 annual % change 1.5 Canada United States Euro Area 1.0 0.5 0.0 Housing Market is Historically Undersupplied 0.9 Ratio of total home completions on 18-month rolling basis relative to population change United Kingdom 0.8 0.7 mm 1982-pres. avg. 0.6 0.5 0.4 w -0.5 08 09 10 11 12 13 14 15 16 17 18 19 20 0.3 T ד. T Sources: Scotiabank Economics. 84 87 90 93 96 99 02 05 08 11 14 17 20 Listings Falling More Rapidly than Sales 90 sa sales-to-new listings ratio, % 80 70 60 50 50 10 40 Sellers' Market سمه Buyers' Market Sources: Scotiabank Economics, Statistics Canada. Government Assistance Supporting Households 2.5 % 2.0 1.5 1.0 0.5 30 04 06 08 10 12 14 16 18 20 0.0 20 Sources: Scotiabank Economics, CREA. Hypothetical arrears rate on mortgages simulated by BoC for 19% fall in GDP in 2020 Arrears without existing household support measures Arrears with existing support measures 21 22 Sources: Scotiabank Economics, Bank of Canada Financial System Review. 63 63#64Growth in Household Credit Total household credit has been slowing, grew at 3.1% in annual nominal terms in Q2/20 vs the 2008 peak of 12.2% annually • Consumer loans excluding mortgages (i.e., cards, HELOCS, unsecured lines, auto loans, etc.) fell by 3.0% annually in Q2/20 vs growth of >5% in late 2017 Mortgage credit grew at 5.6% annually in Q2/20 vs 2008 peak of 13%. Lower five-year rates are driving a rebound in the pace of growth, as is strength of underlying demand HOUSEHOLD CREDIT GROWTH CONSUMER LOAN GROWTH RESIDENTIAL MORTGAGE GROWTH 25 [%, 3-month moving average 20 15 y/y % change 10 110 5 m/m% change, SA 0 -5 00 02 04 06 08 10 12 14 16 18 20 Sources: Scotiabank Economics, Bank of Canada. 22 25 %, 3-month moving average 25 %, 3-month moving average 20 15 20 y/y% change 10 15 y/y % change 5 m/m% change, SA 5 0 10 -5 -10 m/m% change, SA -15 -20 -25 -5 00 02 04 06 08 10 12 14 16 18 20 Sources: Scotiabank Economics, Bank of Canada. 00 02 04 06 08 10 12 14 16 18 20 Sources: Scotiabank Economics, Bank of Canada. 19 64#65Appendix 3 Additional Information#66Fintech Partnerships QED INVESTORS Georgian Partners Scale UP VENTURES V VIOLA VENTURES TEAM8 Rethinking Cyber 1 Selected proof of concepts with fintech partners • • • • • • Focus Areas Proof of Concepts¹ Credit adjudication Accessibility Natural language processing Personal financial management Customer experience and self-service Machine-learning modelling IT Modernization Fraud Anti-Money Laundering konfio Cerebri≥ Fable Tech Labs Eigen Technologies personetics wysdom H₂O Rapid API BIOCATCH Less Friction. Less Fraud. Tookitaki 99 66#67Acquisition & Divestiture Activity (2018-2020) Increasing Scale in Core P&C Markets and Wealth Management Citi Colombia Banco Dominicano del Progreso 6% BBVA Chile 39% 5% Cencosud Peru 2% Wealth Management 48% MD Financial ACQUISITIONS: $7.5B 35% International P&C 52% Jarislowsky Fraser 13% Caribbean (Leeward Islands) Pension & Benefits Administration 1% El Salvador 9% Puerto Rico & 10% DIVESTITURES: $5.8B Thanachart Bank Thailand 56% USVI 24% 67 62#68Medium-Term Financial Objectives All-Bank Objectives¹ EPS Growth 7%+ ROE 14%+ Operating Leverage 13-5 year targets from 2020 Investor Day Positive Capital Strong Levels 68#69Additional Information Scotiabank Listings: Toronto Stock Exchange (TSX: BNS) New York Stock Exchange (NYSE: BNS) Scotiabank Common Share Issue Information: • CUSIP: 064149107 CA0641491075 • . ISIN: FIGI: NAICS: BBGOOOBXSXH3 522110 Scotiabank Credit Ratings Moody's Investors Standard & Poor's Fitch Ratings Services Dominion Bond Rating Service Ltd. Aa2 A+ AA Legacy Senior Debt¹ Senior Debt² Subordinated Debt (NVCC) Baa1 BBB+ Short Term Deposits/Commercial Paper P-1 Covered Bond Program Aaa Not Rated AA A2 A- AA- AA (low) A (low) A-1 F1+ R-1 (high) AAA AAA Outlook Stable Stable Negative Stable 1Includes: (a) Senior debt issued prior to September 23, 2018; and (b) Senior debt issued on or after September 23, 2018 which is excluded from the bank recapitalization "bail-in" regime 2 Subject to conversion under the bank recapitalization "bail-in" regime 69#70Contact Information Investor Relations Philip Smith Senior Vice President 416-863-2866 [email protected] Rene Lo Director 416-866-6124 [email protected] Sophia Saeed Vice President 416-933-8869 [email protected] Tiffany Sun Senior Manager 416-866-2870 [email protected] Funding Tom McGuire Executive Vice President & Group Treasurer 416-860-1688 [email protected] Christy Bunker SVP, CB & GWM Treasurer, Term Funding and Capital management 416-933-7974 [email protected] Mark Michalski Director, Strategy & Market Development, Funding 416-866-6905 [email protected] 70 0