#1Investor Presentation Fourth Quarter 2021 November 30, 2021 ⚫ 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 2021 Annual Report under the headings "Outlook" and in other statements regarding the Bank's objectives, strategies to achieve those objectives, the regulatory environment in which the Bank operates, anticipated financial results, and the outlook for the Bank's businesses and for the Canadian, U.S. and global economies. Such statements are typically identified by words or phrases such as "believe," "expect," "foresee," "forecast," "anticipate,” “intend," "estimate," "plan," "goal," "project," and similar expressions of future or conditional verbs, such as "will," "may," "should," "would" and "could." By their very nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, which give rise to the possibility that our predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that our assumptions may not be correct and that our financial performance objectives, vision and strategic goals will not be achieved. We caution readers not to place undue reliance on these statements as a number of risk factors, many of which are beyond our control and effects of which can be difficult to predict, could cause our actual results to differ materially from the expectations, targets, estimates or intentions expressed in such forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: general economic and market conditions in the countries in which we operate; changes in currency and interest rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the failure of third parties to comply with their obligations to the Bank and its affiliates; changes in monetary, fiscal, or economic policy and tax legislation and interpretation; changes in laws and regulations or in supervisory expectations or requirements, including capital, interest rate and liquidity requirements and guidance, and the effect of such changes on funding costs; changes to our credit ratings; operational and infrastructure risks; reputational risks; the accuracy and completeness of information the Bank receives on customers and counterparties; the timely development and introduction of new products and services, and the extent to which products or services previously sold by the Bank require the Bank to incur liabilities or absorb losses not contemplated at their origination; our ability to execute our strategic plans, including the successful completion of acquisitions and dispositions, including obtaining regulatory approvals; critical accounting estimates and the effect of changes to accounting standards, rules and interpretations on these estimates; global capital markets activity; the Bank's ability to attract, develop and retain key executives; the evolution of various types of fraud or other criminal behaviour to which the Bank is exposed; disruptions in or attacks (including cyber-attacks) on the Bank's information technology, internet, network access, or other voice or data communications systems or services; increased competition in the geographic and in business areas in which we operate, including through internet and mobile banking and non-traditional competitors; exposure related to significant litigation and regulatory matters; climate change and other environmental and social risks, including sustainability that may arise, including from the Bank's business activities; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; the emergence of widespread health emergencies or pandemics, including the magnitude and duration of the COVID-19 pandemic and its impact on the global economy, financial market conditions and the Bank's business, results of operations, financial condition and prospects; and the Bank's anticipation of and success in managing the risks implied by the foregoing. A substantial amount of the Bank's business involves making loans or otherwise committing resources to specific companies, industries or countries. Unforeseen events affecting such borrowers, industries or countries could have a material adverse effect on the Bank's financial results, businesses, financial condition or liquidity. These and other factors may cause the Bank's actual performance to differ materially from that contemplated by forward-looking statements. The Bank cautions that the preceding list is not exhaustive of all possible risk factors and other factors could also adversely affect the Bank's results, for more information, please see the "Risk Management" section of the Bank's 2021 Annual Report, as may be updated by quarterly reports. Material economic assumptions underlying the forward-looking statements contained in this document are set out in the 2021 Annual Report under the headings "Outlook", as updated by quarterly reports. The "Outlook" sections are based on the Bank's views and the actual outcome is uncertain. Readers should consider the above-noted factors when reviewing these sections. When relying on forward-looking statements to make decisions with respect to the Bank and its securities, investors and others should carefully consider the preceding factors, other uncertainties and potential events. Any forward-looking statements contained in this document represent the views of management only as of the date hereof and are presented for the purpose of assisting the Bank's shareholders and analysts in understanding the Bank's financial position, objectives and priorities, and anticipated financial performance as at and for the periods ended on the dates presented, and may not be appropriate for other purposes. Except as required by law, the Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by or on its behalf. Additional information relating to the Bank, including the Bank's Annual Information Form, can be located on the SEDAR website at www.sedar.com and on the EDGAR 2 section of the SEC's website at www.sec.gov.#3Opening Remarks Brian Porter President & CEO All business lines have returned to or exceeded pre-pandemic earnings Well positioned for strong growth ahead Digital transformation and adoption exceeding expectations Strong capital levels support future growth and shareholder returns All medium term objectives exceeded 3#4Fiscal 2021 Overview Raj Viswanathan Group Head & CFO 4#5Fiscal 2021 Financial Performance $MM, except EPS 2021 Y/Y HIGHLIGHTS Reported Net Income $9,955 45% • Pre-Tax, Pre-Provision Profit¹ $14,634 Diluted EPS Revenue $7.70 $31,252 1% 45% Adjusted EPS up 47%, driven by lower PCLs and strong expense management • Expenses $16,618 Productivity Ratio² 53.2% (1%) (60 bps) Net Interest Margin³ 2.23% PCL Ratio² 29 bps (4 bps) (69 bps) Adjusted pre-tax, pre-provision profit up 2% Adjusted revenue was flat o FX translation impacted revenue growth by -3% o Net interest income down 2% 。 Non-interest income up 3% PCL Ratio on Impaired Loans² 53 bps (3 bps) • Adjusted³ Net interest margin down 4 bps Net Income $10,169 46% Pre-Tax, Pre-Provision Profit $14,925 2% • o Driven by business mix and 2020 rate cuts Adjusted operating leverage³ of positive 1.5% Diluted EPS $7.87 47% Revenue $31,252 • Strong adjusted ROE³ of 15.0% Expenses $16,327 52.2% (1%) (80 bps) PCL Ratio 29 bps (66 bps) Productivity Ratio ADJUSTED NET INCOME YEAR-OVER-YEAR ($MM) ADJUSTED NET INCOME4 BY BUSINESS SEGMENT ($MM) 4,121 187 > +60% 2020 2021 (1,213) 472 (359) 6,961 +2% 10,169 +23% +83%5 4,171 - 2,604 1,297 1,592 2,034 2,075 1,855 1,148 PCLS Non-interest expenses Taxes 2021 4 Attributable to equity holders of the Bank 5Y/Y growth rate is on a constant dollars basis 2020 Net interest income Non-interest income 1 Pre-Tax, Pre-Provision Profit defined as revenues less expenses 2 Refer to page 141 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 3 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com Canadian Banking Global Wealth Management Global Banking and Markets International Banking 5#6Q4 2021 Financial Performance $MM, except EPS Q4/21 Y/Y Q/Q Reported Net Income $2,559 35% 1% Pre-Tax, Pre-Provision Profit¹ $3,416 (1%) (7%) • Diluted EPS $1.97 39% (1%) Revenue $7,687 2% (1%) Expenses $4,271 5% 4% Productivity Ratio² 55.6% 150 bps 280 bps Net Interest Margin³ 2.17% (5 bps) (6 bps) PCL Ratio² 10 bps (63 bps) (14 bps) PCL Ratio on Impaired Loans² 31 bps (23 bps) (22 bps) Adjusted³ Net Income $2,716 40% 6% Pre-Tax, Pre-Provision Profit $3,629 4% (2%) Diluted EPS $2.10 45% 4% Expenses $4,058 1% Productivity Ratio 52.8% (50 bps) 30 bps • ADJUSTED NET INCOME YEAR-OVER-YEAR ($MM) YEAR-OVER-YEAR HIGHLIGHTS Adjusted EPS up 45%; up 4% Q/Q Adjusted pre-tax, pre-provision profit up 4% Revenue up 2% o FX impacted revenue growth by -2% o Net interest income down 1% o Non-interest income up 7% Net interest margin down 6 bps Q/Q o Lower contribution from asset/liability management activities, as well as lower margins driven by business mix Adjusted expenses up 1% (flat Q/Q) o Restructuring charge of $126MM pre-tax ($93MM after-tax) Strong adjusted ROE³ of 15.6% ADJUSTED NET INCOME4 BY BUSINESS SEGMENT ($MM) +59% Q4/20 Q4/21 963 (55) 223 (312) +103%5 (41) +18% +9% 2,716 1,242 1,938 782 333 392 460 502 535 283 Q4/20 Net interest Non-interest Income income PCLS Non-interest Taxes expenses Q4/21 Canadian Banking Global Wealth Management Global Banking and Markets International 1 Pre-Tax, Pre-Provision Profit defined as revenues less expenses 2 Refer to page 141 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 3 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com Banking 4 Attributable to equity holders of the Bank 5Y/Y growth rate is on a constant dollars basis 6#7Strong Capital Position CETI ratio of 12.3%¹ +32 bps -18 bps 2 -3 bps -3 bps 12.3% 12.2% Q3 2021 Reported Earnings less dividends RWA Growth (ex. FX) ECL Transitional Capital Relief Other (net) Q4 2021 Reported Internal capital generation CET1 ratio¹ up 50 bps Y/Y and 10 bps Q/Q Strong internal capital generation of 14 bps RWA growth primarily from retail mortgages and business lending 1 This measure has been disclosed in this document in accordance with OSFI Guideline - Capital Adequacy Requirements (November 2018) 2 Includes 6 bps benefit from OSFI's partial inclusion of stage 1 and 2 allowances 7#8Canadian Banking $MM Q4/21 Y/Y Q/Q Reported Net Income¹ $1,238 59% 15% Pre-Tax, Pre-Provision Profit² $1,580 14% 3% Revenue $2,831 10% 1% Expenses $1,251 6% (1%) PCLS ($96) nmf nmf Productivity Ratio³ 44.2% (200 bps) (110 bps) Net Interest Margin4 2.20% (6 bps) (3 bps) PCL Ratio³ (10 bps) (47 bps) (17 bps) PCL Ratio on Impaired Loans³ 10 bps (17 bps) (4 bps) Adjusted4 Net Income¹ $1,242 59% 15% Pre-Tax, Pre-Provision Profit $1,586 14% Expenses Productivity Ratio $1,245 6% 3% (1%) 44.0% (200 bps) (110 bps) • • . YEAR-OVER-YEAR HIGHLIGHTS Adjusted net income¹ up 59% (up 15% Q/Q) o Pre-tax, pre-provision profit up 14% o PCLs down due to more favourable credit and macroeconomic outlook Revenue up 10% (up 1% Q/Q) 。 Non-interest income up 22%, driven by continued rebound in fee income 。 Net interest income up 7% from strong loan growth NIM down 6 bps o Changes in business mix towards secured lending Adjusted expenses up 6% (down 1% Q/Q) FY21 adjusted operating leverage 4 of positive 2.9% Loan growth of 10% o Residential mortgages up 13% o Business loans up 11% • Deposit growth of 7% ADJUSTED NET INCOME ($MM) AND NIM (%) 2.26% 2.26% 2.26% 2.23% 2.20% 1,083 1,242 915 931 782 1 Attributable to equity holders of the Bank Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 2 Pre-Tax, Pre-Provision Profit defined as revenues less expenses 3 Refer to page 141 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 8 4 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com#9Global Wealth Management $MM, except AUM/AUA Q4/21 Y/Y Q/Q Reported Net Income¹ $385 20% (1%) Pre-Tax, Pre-Provision Profit² $523 19% Revenue $1,347 16% 1% Expenses $824 13% 1% PCLS $1 nmf nmf Productivity Ratio4 61.1% (120 bps) 20 bps AUM ($B)4 $346 19% 1% AUA ($B)4 $597 19% 2% Adjusted 4 Net Income¹ $392 18% (1%) • Pre-Tax, Pre-Provision Profit $532 18% Expenses $815 14% Productivity Ratio 60.5% (60 bps) 1% 30 bps AUM³ AUA³ +19% +19% Y/Y Y/Y 346 582 597 341 34 31 -17% 500 107 109 +3% • • • YEAR-OVER-YEAR HIGHLIGHTS Adjusted net income up 18% 。 Canadian wealth management up 18% (eleven consecutive quarters of double-digit Y/Y growth) o International wealth management up 24% on a constant FX basis 5 Revenue up 16% o Higher fee income from growth in client assets o Higher brokerage fees o Strong volume growth in Private Banking Adjusted expenses up 14% (volume driven) FY21 adjusted operating leverage 5 of positive 3.1% 。 Eight consecutive quarters of positive operating leverage AUM and AUA up 19% 。 Strong net sales and market appreciation o Record FY21 net sales of approximately $12 billion ADJUSTED NET INCOME¹ ($MM) AND ROE5 (%) 290 37 Y/Y Y/Y 17.9% 16.7% 16.8% 16.6% 106 14.3% 425 307 315 +25% 475 488 253 Y/Y 394 +24% Y/Y 62 333 363 378 397 392 ■ Canada Q4/20 Q3/21 Q4/21 Q4/20 ■International Q3/21 Q4/21 2 Pre-Tax, Pre-Provision Profit defined as revenues less expenses 1 Attributable to equity holders of the Bank 3 Prior period amounts have been restated to conform with current period presentation with intersegment Q4/20 Q1/21 Q2/21 ■ Performance Fees Q3/21 4 Refer to page 141 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 5 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com Q4/21 9#10Global Banking and Markets $MM Q4/21 Y/Y Q/Q Reported • Net Income¹ $502 9% (2%) Pre-Tax, Pre-Provision Profit² $586 (7%) (7%) Revenue $1,177 (3%) (6%) Expenses $591 1% (5%) • PCLs ($50) nmf nmf Productivity Ratio³ 50.3% 210 bps 80 bps PCL Ratio4 (18 bps) (42 bps) (7 bps) YEAR-OVER-YEAR HIGHLIGHTS Net income up 9% (down 2% Q/Q) o Releases in provisions for credit losses o Normalization in Capital Markets Revenue down 3% (down 6% Q/Q) 。 Net interest income up 4% (up 1% Q/Q) o Non-interest income down 6% (down 9% Q/Q) PCL Ratio Impaired Loans4 1 bp (12 bps) (2 bps) . Loans down 4% (up 2% Q/Q) • Deposits up 7% (up 3% Q/Q) • Expenses up 1% (down 5% Q/Q) • Productivity ratio increased 80 bps Q/Q ADJUSTED NET INCOME ($MM) AND ROE (%) 14.6% 17.3% 17.4% 16.1% 15.5% 543 517 513 502 460 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 1 Attributable to equity holders of the Bank 2 Pre-Tax, Pre-Provision Profit defined as revenues less expenses 3 Refer to page 141 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 4 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com 10 10#11International Banking $MM Q4/21 Y/Y1 Q/Q¹ Reported • Net Income² $528 116% 10% Pre-Tax, Pre-Provision Profit³ $1,058 (2%) (1%) Revenue $2,317 (3%) (1%) • Expenses $1,259 (7%) (3%) PCLS $314 (53%) (6%) • Productivity Ratio4 54.3% (160 bps) (70 bps) Net Interest Margin5 3.69% (28 bps) (3 bps) PCL Ratio4 91 bps (116 bps) (9 bps) . PCL Ratio Impaired Loans4 118 bps (40 bps) (90 bps) Adjusted5 Net Income² $535 103% 10% • Pre-Tax, Pre-Provision Profit $1,068 1% Expenses Productivity Ratio $1,249 53.9% (6%) 1% (3%) (90 bps) (70 bps) • Loans up 3% Q/Q HIGHLIGHTS1 o Pacific Alliance up 4% Q/Q Adjusted net income² of $535 million, up 10% Q/Q Pre-tax, pre-provision profit up 1% Q/Q Revenue down 1% Q/Q 。 Net interest income up 1% Q/Q o Lower capital markets revenue NIM down 3 bps Q/Q o Impact of business mix PCLs down 6% Q/Q Adjusted expenses down 3% Q/Q, driven by good expense discipline FY21 adjusted operative leverage 5 of -1.7% ADJUSTED NET INCOME² ($MM) AND NIM (%) 3.97% 4.03% 3.95% 3.72% 3.69% 398 429 493 535 283 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 1 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 Pre-Tax, Pre-Provision Profit defined as revenues less expenses 4 Refer to page 141 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 5 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com 11#12Other ADJUSTED NET INCOME 8 47 130 1, 2, 3 ($MM) (7) (35) • Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 • YEAR-OVER-YEAR HIGHLIGHTS Decrease was driven by higher expenses and higher taxes QUARTER-OVER-QUARTER HIGHLIGHTS Decrease was driven by higher expenses 1 Represents smaller operating segments including Group Treasury and corporate adjustments 2 Attributable to equity holders of the Bank 3 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com 12 12#13Risk Review Phil Thomas Chief Risk Officer 13#14Credit Quality GILS ($MM) AND GIL RATIO1 81 bps 81 bps 84 bps 81 bps 73 bps 77 bps 78 bps 67 bps 4,770,27 218 1,106 5,120 31 5,148 26 5,053 26 5,279 39 5,116 33 285 -209 -302 -224 -2864,735 28 1,222 1,209 1,067 1,049 1,040 921 235 4,456 941 26 219 3,419 3,582 3,704 3,676 3,949 3,757 3,551 3,270 • Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 NET WRITE-OFFS ($MM) AND NET WRITE-OFFS RATIO1 HIGHLIGHTS GILs trending down, below pre-Covid levels О Lower impairments across portfolios Retail write-offs in International Banking о Positive FX impact GIL ratio improved 6 bps Q/Q HIGHLIGHTS 76 bps 62 bps . Net write-offs declined 11% Y/Y and 43% Q/Q 54 bps 47 bps 47 bps 41 bps 43 bps 1,141 34 bps • 13 Significant reduction in International Banking 983 219 8 173 827 -27 732 750 -13 33 674 632 -25 256 -26 560 Net write-offs ratio declined 28 bps Q/Q and is below pre-pandemic levels 265 266 201 1 227 123 910 801 544 454 450 448 435 379 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 (1) Q3/21 Q4/21 International Banking Canadian Banking Global Banking and Markets Global Wealth Management 1 Refer to page 141 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 14#15Credit Performance TOTAL ACLs1 ($MM) AND ACL RATIO² • 125 bps 125 bps 109 bps 116 bps 96 bps 86 bps 82 bps 93 bps • 7,820 7,810 409 395 7,403 377 19 '21 24 6,893 325 6,079 268 23 6,232 5,095 124 17 19 288 22 5,731 234 23 • 4,456 4,742 4,736 3,965 3,446 3,736 3,219 3,294 2,551 2,648 2,655 2,580 1,660 2,056 2,476 2,255 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 ■Canadian Banking International Banking Global Wealth Management Global Banking and Markets TOTAL PCLs ($MM)³,4 AND PCL RATIO5 136 bps 119 bps • 73 bps 49 bps 51 bps 1,846 2 155 2,181 1 149 33 bps 24 bps 10 bps • 1278 1,131 3 1019 62 771 18 764 4 736 20 496 380 503 525 168 670 752 330 250 215 396 145 (43) 339 69 (27) 314 (96) (2) (1) (50) Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 ■Canadian Banking ■International Banking ■Global Banking and Markets 4 Other HIGHLIGHTS $5.7 billion in total ACLS (12% above pre-pandemic levels) Performing loan ACLs decreased 8% from the prior quarter Total ACL coverage ratio of 86 bps (vs. 82 bps pre- pandemic) HIGHLIGHTS Total PCL ratio of 10 bps decreased 63 bps Y/Y and 14 bps Q/Q The Q/Q improvement was mainly driven by: о Lower impaired PCLs in International Banking о Lower performing PCLs in Canadian 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 provision for credit losses on other financial assets in International Banking of $1 million (Q1/20: -1$ million, Q2/20: $1 million, Q4/20: -$1 million), in Global Banking and Markets of -$1 million (Q3/20: -1$ million, Q4/20: -$1 million, Q3/21: $1 million), nil in Global Wealth Management (Q3/20: -$1 million) and in Other of -$2 million (Q1/20: $1 million, Q2/20: -$2 million, Q4/20: $2 million) 4 Other includes provisions for credit losses in Global Wealth Management of $1 million (Q2/20: $2 million, Q3/20: $1 million, Q4/20: $3 million, Q1/21: $4 million, Q2/21: -$2 million, Q3/21: -1$ million) 5 Refer to page 141 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 15#16PCLs - Impaired and Performing PCLs ($MM) Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 All-Bank Impaired 835 Performing 2961 762 2 Total 1,1311 764 496 1,192 841 511 (696) (461) (343) 380 168 Canadian Banking Impaired 238 214 242 135 99 Performing 92 1 (97) (66) (195) Total 330 215 145 69 (96) International Banking Impaired 561 528 941 703 407 Performing 1751 (3) (545) (364) (93)1 Total 7361 525 396 339 3141 Global Wealth Management Impaired Performing Total Global Banking and Markets 5 (3) (3) 3 2 (1) 3 14 1 2 (2) (2) (1) 1 HIGHLIGHTS OUTLOOK • Fiscal 2022 total PCL Ratio expected to be in the 25 bps range о Stage 3 PCL expected to be in line with Q4 2021 YEAR-OVER-YEAR • Lower PCLs driven mainly by lower performing PCLs. Total PCLs of $168 million was down 85% and 56% Q/Q О Performing PCLs net reversal of $343 million Release driven primarily by improving macroeconomic outlook and portfolio performance Impaired PCLs of $511 million was driven largely by International Banking QUARTER-OVER-QUARTER Impaired PCLs decreased $330 million, driven largely by International Retail Banking Impaired Performing 34 15 281 Total 621 552 12 6 2 • (55) (33)1 (52)1 20 (43) (27) (50)1 Other _1 (1)1 1 Includes provision for credit losses on other financial assets in International Banking of $1 million (Q4/20: -$1 million), in Global Banking and Markets of -$1 million (Q4/20: -$1 million, Q3/21: $1 million), nil in Global Wealth Management and in Other of -$2 million (Q4/20: $2 million) 16 16#17Closing Remarks Brian Porter President & CEO Strong finish to a transitional year High asset quality and favourable PCL outlook All business lines positioned well for continued momentum in FY22 17#18Appendix 18#19Net Income and Adjusted Diluted EPS Net Income ($MM) and EPS ($ per share) Q4/20 Q3/21 Q4/21 FY20 FY21 1 Net Income attributable to common $1,745 $2,426 $2,411 $6,582 $9,391 shareholders Dilutive impact of share-based payment options and others $9 $9 $3 $6 $43 Quarterly diluted common shares outstanding may be impacted by dilutive effect of put options sold by the bank in the following legal entities: - Colpatria Net Income attributable to common shareholders (diluted) $1,764 $2,435 $2,414 $6,588 $9,434 - BBVA Chile Canadian Tire Financial Services Weighted average number of 1,211 1,215 1,215 1,212 1,214 common shares outstanding Dilutive impact of share-based payment options and others Weighted average number of diluted common shares outstanding 1 35 8 31 11 1,246 1,223 1,224 1,243 1,225 Reported Basic EPS Dilutive impact of share-based payment options and others Reported Diluted EPS $1.44 $2.00 $1.98 ($0.02) ($0.01) ($0.01) $1.42 $1.99 $1.97 Impact of adjustments on diluted $0.03 $0.02 $0.13 earnings per share¹ $5.43 $7.74 ($0.13) ($0.04) $5.30 $7.70 $0.06 $0.17 Adjusted Diluted EPS1 $1.45 $2.01 $2.10 $5.36 $7.87 1 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com 19#20Adjusting Items - Pre-Tax¹ Adjusting Items (Pre-Tax) ($MM) Q4/20 Q3/21 Q4/21 FY20 FY21 Acquisition-Related Costs Integration Costs International Banking Global Wealth Management Amortization of Intangibles 20 16 177 154 4 23 2 Canadian Banking International Banking 11 Global Wealth Management Other Allowance for Credit Losses - Additional Scenario Canadian Banking International Banking Global Wealth Management Global Banking and Markets Derivative Valuation Adjustments Global Banking and Markets Other 2578 2629 24 11 2629 25 106 103 22 10 47 37 246 22 45 36 155 71 77 1 116 102 14 Net Loss/(Gain) on Divestitures 8 - (298) Other 8 (298) Impairment Charge of Software Assets Other Restructuring and Other Provisions Other Total (Pre-Tax) 54 24 - 44 44 188 188 188 188 213 300 291 1 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com 2 Excludes amortization of intangibles related to software (pre-tax) 20 20#21Adjusting Items - After-Tax and NCI¹ Adjusting Items (After-Tax and NCI) ($MM) Acquisition-Related Costs Integration Costs International Banking Q4/20 Q3/21 15 12 Global Wealth Management 3 2 Amortization of Intangibles 19 18 Canadian Banking International Banking 17232 10477 48 7 Other Global Wealth Management Allowance for Credit Losses - Additional Scenario Canadian Banking International Banking Global Wealth Management Global Banking and Markets Derivative Valuation Adjustments Global Banking and Markets Other Net Loss/(Gain) on Divestitures Other Impairment Charge of Software Assets Other Restructuring and Other Provisions Other Total (After-Tax and NCI) 55 39 Q4/21 After-Tax Tax NCI FY20 FY21 and NCI 100 83 17 I 1477 18 77 16 34 27 1622 75 16 32 27 I 108 555 52 51 1 4 85 75 10 (354) (354) 32 32 49 10 129 - 129 49 10 129 129 18 56 10 147 48 204 21 1 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com 2 Excludes amortization of intangibles related to software (after-tax)#22Other Items Impacting Financial Results 1,2 (Pre-Tax) ($MM)¹ 1 International Banking One month reporting lag elimination Impact of closed divestitures Total Global Wealth Management One month reporting lag elimination Performance fees Total Other Metals business charges SCENE loyalty program Total Total (Pre-Tax) Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 FY20 FY21 7 7 122 66 1 1 122 - 51 95 11 146 11 9 84 84 84 I 9 84 237 (66) (66) (66) - - 237 (66) 7 24 2 1 2 392 29 1 (After-Tax and NCI) ($MM) Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 FY20 FY21 International Banking One month reporting lag elimination Impact of closed divestitures 37 4 4 1 2 70 IN 7 Total 4 1 2 107 7 Global Wealth Management One month reporting lag elimination ΟΙ 6 Performance fees Total Other 62 62 62 6 62 Metals business charges 232 SCENE loyalty program Total (49) (49) (49) - 232 (49) Total (After-Tax and NCI) 4 17 1 2 345 20 Impact on diluted earnings per share $0.01 - $0.28 $0.02 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com 2 Items on this page have not been formally adjusted for determining the Bank's Adjusted Net Income and Adjusted Diluted EPS 22 22#23Digital Progress: All-Bank • Canada: Continued improvement in Digital Adoption, driven by strong Mobile user growth • Pacific Alliance: Strong growth in all Digital metrics, particularly in Digital Adoption and Active Mobile Users Digital Adoption (%)¹ +7% 8,073 7,524 +600 bps Active Digital Users (#000) 6,316 5,276 +53% 56% 50% 43% 2018 2019 Q4/20 Q4/21 36% 2018 2019 Q4/20 Digital Sales (%) 36% 28% 22% 2018 2019 Q4/20 +2,000 bps Q4/21 Active Mobile 5,903 4,513 Users (#'000)² 3,559 +14% 6,727 +89% 2018 2019 Q4/20 Q4/21 +600 bps +100 bps 42% Self-Serve Transactions 89% 90% 76% 80% +1,400 bps (%) +2,000 bps Q4/21 1 Digital Adoption definition for Canada was updated in Q1/21 to reflect new addressable customer base, excluding indirect-channel acquisitions 22018 and 2019 use historical estimation based on available mobile user data for Colombia and Chile 2018 2019 Q4/20 Q4/21 23#24Digital Progress: Canada Digital Adoption (%)¹ +6% 4,071 Active Digital 3,329 3,599 3,847 +400 bps Users (#'000) 22% 59% 55% 50% 46% 2018 2019 Q4/20 Q4/21 +1,300 bps 2018 2019 Q4/20 Q4/21 Active Mobile Users (#'000) 3,073 2,396 2,666 Digital Sales (%) 10% 3,393 42% 2018 2019 Q4/20 Q4/21 +700 bps 26% 26% +100 bps 23% 16% 300 bps Self-Serve Transactions 84% 87% 92% 93% (%) +900 bps 2018 2019 Q4/20 Q4/21 2018 2019 Q4/20 Q4/21 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 1 Digital Adoption definition for Canada was updated in Q1/21 to reflect new addressable customer base, excluding indirect-channel acquisitions 224 24#25Digital Progress: Pacific Alliance Digital Adoption (%) +9% 3,677 4,002 +700 bps Active Digital Users (#'000) 2,717 1,947 53% +105% 46% 35% 2018 2019 Q4/20 Q4/21 26% +2,700 bps +18% 2018 2019 Q4/20 Q4/21 3,334 Active Mobile 2,830 Users (#000)¹ 1,847 +187% 1,163 Digital Sales (%) 2018 2019 Q4/20 Q4/21 +400 bps 55% 51% +200 bps Self-Serve 86% 88% 29% +3,600 bps Transactions 69% 73% 19% (%) +1,900 bps 2018 2019 Q4/20 Q4/21 2018 2019 Q4/20 Q4/21 Definitions Digital Sales (% of retail unit sales using Digital platforms) Digital Adoption (% of customers with Digital login (90 days) / Total addressable Customer Base) Digital Users: # of customers who logged into website and/or mobile in the last 90 days Mobile Users: # of customers who logged into mobile in the last 90 days Self-serve Transactions: % of Financial transactions through Digital, ABM, IVR, POS 12018 and 2019 use historical estimation based on available mobile user data for Colombia and Chile 25 25#26Economic Outlook in Core Markets Real GDP Growth Forecast (2021-23) Real GDP (Annual % Change) Forecast 1,2 Country 2010-19 Average 2020 2021F 2022 2023 Q1F Q2F Q3F Q4F Year Q1F Q2F Q3F Q4F Year Canada 2.2 -5.3 4.9 2.6 4.0 4.2 4.1 3.8 4.0 3.5 2.8 2.4 3.2 U.S. 2.3 -3.4 5.8 5.3 4.7 4.6 3.7 4.6 3.3 2.9 2.6 2.4 2.8 Mexico 2.7 -8.3 6.2 3.7 3.4 2.4 2.1 2.9 1.8 1.3 1.9 1.4 1.5 Chile 3.3 -5.8 12.0 11.4 9.5 0.7 -2.2 4.5 -1.7 0.3 3.5 5.9 2.0 Peru 4.5 -11.1 12.3 1.7 0.5 4.9 3.1 2.6 2.5 4.3 1.5 2.3 2.8 Colombia 3.7 -6.8 9.1 5.1 7.8 2.9 2.0 4.5 3.6 3.6 3.7 3.8 3.7 PAC Average³ 3.6 -8.0 9.9 5.5 5.3 2.7 1.3 3.6 1.6 2.4 2.7 3.4 2.5 Source: Scotiabank Economics. 1 Forecasts for Canada and U.S. as of the October 20, 2021 Scotiabank Economics Global Forecast Tables. ² Forecasts for PAC countries as of the November 5, 2021 Scotiabank Economics Latam Weekly. 3 Simple average. 26 26#27Policy Rates in Core Markets 09876543NTOT Canada % forecast COVID-19 begins -1 18 Headline inflation 19 Policy rate 20 21 22 United States 10 % 9 COVID-19 begins 8765432-0 Policy rate 1 Headline inflation 23 18 19 20 Sources: Scotiabank Economics (forecasts), Bank of Canada, Statistics Canada. Chile forecast 10 % COVID-19 begins 098765432-0 Policy rate 1 Headline inflation 18 19 20 21 21 forecast 22 23 Sources: Scotiabank Economics (forecasts), Federal Reserve Board, BLS. Colombia forecast COVID-19 begins 10 % 9 8 7 6 Policy rate 5 4 3 2 Headline inflation 1 0 22 23 Sources: Scotiabank Economics (forecasts), BCCH, INE. 10 % 098765432-0 1 Mexico COVID-19 begins forecast Policy rate Headline inflation 21 22 18 19 20 Sources: Scotiabank Economics (forecasts), Banxico, INEGI. 21 22 18 19 20 Sources: Scotiabank Economics (forecasts), BanRep, DANE. Peru 23 10 % 9 COVID-19 begins forecast 8 7 6 5 4 Policy rate 3 2 1 0 23 Headline inflation 19 20 18 Sources: Scotiabank Economics (forecasts), BCRP, INEI. 21 22 23 27 22#28Macroeconomic Scenarios Select Macroeconomic Variables used to estimate Expected Credit Losses Base Case Scenario Next 12 months Canada Real GDP growth, Y/Y % change Unemployment rate, average % Alternative Scenario - Alternative Scenario - Optimistic Pessimistic Alternative Scenario - Pessimistic Front Loaded As at As at October 31, 2021 October 31, 2020 As at As at October 31, 2021 October 31, 2020 As at As at As at As at October 31, 2021 October 31, 2020 October 31, 2021 October 31, 2020 3.4 3.1 5.3 4.7 22 6.3 7.3 5.6 6.7 40 -1.3 -2.0 -7.4 -10.8 8.8 9.9 11.7 14.1 US Real GDP growth, Y/Y % change Unemployment rate, average % 5.7 2.5 7.3 3.6 2.4 -0.5 -1.4 -7.4 3.8 6.3 3.4 6.1 5.6 8.1 6.8 10.5 Global WTI oil price, average USD/bbl 69 48 75 52 61 42 57 37 Next 12 months Quarterly breakdown of the projections for the above macroeconomic variables: Calendar Quarters Q4 Q1 Q2 Q3 Base Case Scenario Average October 31 Calendar Quarters Q4 Q1 Q2 Q3 2021 2022 2022 2022 2021 2020 2021 2021 2021 Average October 31 2020 Canada Real GDP growth, Y/Y % change 3.1 2.6 3.9 Unemployment rate, average % 7.0 6.5 6.0 SA 4.1 3.4 -3.9 -0.4 12.9 3.7 3.1 5.7 6.3 8.1 7.1 6.9 6.9 7.3 US Real GDP growth, Y/Y % change 6.7 6.3 5.5 4.2 5.7 -3.7 -1.1 9.9 4.8 2.5 Unemployment rate, average % 4.6 4.0 3.5 3.1 3.8 7.7 6.6 5.8 5.4 6.3 Global WTI oil price, average USD/bbl 70 69 69 69 69 69 45 48 50 51 48 28 Source: Scotiabank Economics, forecasts as of September 17, 2021#29Revenue Growth Canadian Banking1 International Banking 1,3 (Growth rates are constant FX)² +5% 2,707 2,795 2,831 -13% 859 957 941 +10% 2,986 699 .68 2,362 43 463 2,317 466 38 -41% -28% 1,848 1,838 1,890 +2% 2,219 1,856 1,812 -7% Q1/20 (Pre-Pandemic) Q3/21 Q4/21 Retail Banking Business Banking Global Wealth Management 1,5 Q1/20 (Pre-Pandemic) Q3/21 Q4/21 Latin America C&CA Asia Global Banking and Markets 1,4 +16% -7% 1,335 1,347 148 149 -16% 1,157 1,269 1,253 1,177 178 405 340 299 -26% 204 264 256 +25% 1,187 1,198 +22% 979 660 649 622 -6% Q1/20 (Pre-Pandemic) Q3/21 Canada 1 May not add due to rounding Q4/21 International Q1/20 Q3/21 Q4/21 (Pre-Pandemic) Business Banking Global Equities FICC 2 Growth rates are on a constant dollar basis. Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com 3 On a constant dollar basis, and excluding the impact of divestitures and the one month reporting lag in Q1/20, revenue growth in International Banking was -6% (Latin America -4%, C&CA -14%, Asia +20%) 4 GBM LatAm revenue contribution and assets are reported in International Banking's results 29 5 On a constant dollar basis, and excluding the impact of divestitures and the one month reporting lag in Q1/20, Global Wealth Management revenue growth was 20% and International Wealth Management revenue growth was 3%#30Loan Growth by Business Line Canadian Banking +13% International Banking (Growth rates are constant FX)1 3%2 395 381 +15% 351 65 151 64 6 -22% 141 138 57 6 8 -4% 80 69 68 78 71 75 78 +9% Global Banking and Markets 10 6 97 -31% 243 255 23 215 18 18 -11% +19% 40 40 38 39 +7% Q1/20 (Pre-Pandemic) Q3/21 Q4/21 Q1/20 (Pre-Pandemic) Q3/21 Q4/21 -3% 91 91 94 Q1/20 (Pre-Pandemic) Q3/21 Q4/21 Strong loan growth driven by residential mortgages and business lending, while growth gradually resuming in personal loans and credit cards Residential mortgages Personal loans Credit cards Business Loans up 3% vs. pre-pandemic levels at constant dollars, with commercial balances up 9% and residential mortgages balances up 7%, partially offset by lower personal and credit card loans Decline vs. pre-pandemic levels due to liquidity in public debt markets as well as the impact of foreign currency translation Growth rates are on a constant dollar basis. Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com 2 Excluding the impact of divestitures and on a constant dollar basis, Loans increased 7% vs. pre-pandemic 30#31Deposit Growth 1 May not add due to rounding Canadian Banking¹ International Banking1,3 (Growth rates are constant FX)² +20% 298 298 +1%4 248 107 110 +39% 111 79 103 102 22 72 67 66 +1%5 191 188 169 +11% 39 36 36 +2%5 Q1/20 (Pre-Pandemic) Q3/21 Q4/21 Q1/20 Q3/21 Q4/21 Global Banking and Markets 1,3 +42% (Pre-Pandemic) Global Wealth Management 1,6 155 160 113 Q1/20 (Pre-Pandemic) Q3/21 Q4/21 Personal +34% 38 39 25 29 19 19 +32% 19 15 +37% 19 20 14 Q1/20 (Pre-Pandemic) Q3/21 Q4/21 Non-Personal 2 Growth rates are on a constant dollar. Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com 3 Includes deposits from banks 4 Excluding impact of divestitures and on a constant dollar basis, deposits increased 8% vs. pre-pandemic 5 Excluding impact of divestitures and on a constant currency basis, non-personal deposits increased 5% and personal deposits increased 14% vs. pre-pandemic 6 On a constant dollar basis, Global Wealth Management deposits increased 36% vs. pre-pandemic 31#322007 2008 2009 3.00% 2010 2011 0.50% 0.40% 0.30% 0.19% 0.20% 0.10% 0.00% 2007 2012 2008 2009 2010 0.00% 0.80% 0.60% 0.40% 0.20% 0.12% 2007 2008 2009 0.23% 0.37% 0.35% 0.28% 2011 2012 2013 0.24% 2010 2011 2012 0.59% Historical Impaired PCL Ratios¹ 2013 2013 ALL BANK 0.47% 0.50% 0.45% 0.34% 0.36% 0.40% 0.42% 0.43% 0.32% 2014 CANADIAN BANKING 0.28% 0.23% 0.23% 0.23% 0.18% 2014 INTERNATIONAL BANKING 2.50% 2.00% 1.50% 1.00% 0.50% 0.25% 0.00% 0.44% 0.90% 1.00% 0.75% 0.75% 0.86% 1.27% 1.24% 1.26% 1.21% 1.29% 1.30% 1.49% 1.88% 2013 - Average (2007 - 2021) 1 Refer to page 141 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 2014 2015 2016 2017 2017 2018 2019 2015 2020 32 2 2016 2021 2017 2018 2019 Avg: 106 bps 2015 2016 2017 2018 0.29% 0.24% 0.29% 0.32% 2020 2021 2019 0.18% Avg: 26 bps 2020 0.49% 0.56% 0.53% H Avg: 41 bps 2021#33Canadian Retail: Loans and Provisions' MORTGAGES 4 0 0 1 2 4 2 1 1 1 1100 AUTO LOANS 216 224 96 106 91 99 39 4 0 94 99 105 89 81 78 35 0 (6) Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 LINES OF CREDIT³ Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 CREDIT CARDS 169 164 80 III 1,002 896 79 62 70 385 400 410 33 41 322 288 234 73 87 445 74 65 60 57 377 401 312 321 310 32 204 (84) (8) Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 PCL as a % of avg. net loans (bps)² Loan Balances Q4/21 Mortgages Spot ($B) % Secured $280 100% PCLs on Impaired Loans as a % of avg. net loans (bps)² Auto Loans Lines of Credit³ Credit Cards $40 100% $32 64% $6 2% Total $3604 95%5 1 Includes Wealth Management. PCL excludes impact of additional pessimistic scenario 2 Refer to page 141 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 3 Includes Home Equity Lines of Credit and Unsecured Lines of Credit 4 Includes Tangerine balances of $9 billion and other smaller portfolios 5 83% secured by real estate; 12% secured by automotive 33#34International Retail: Loans and Provisions MEXICO CHILE 550 591 321 279 Markets with 428 191 329 181 Greater 280 228 Impaired Avg. 238 248 Weighting to 173 278 bps 175 190 Secured 251 250 267 253 243 205 179 120 Q1/20 Q2/2003/2004/20 Q1/21 Q2/21 Q3/21 Q4/21 Markets with Greater Weighting to Unsecured Impaired Avg. 942 bps PERU 2,436 CARIBBEAN AND CENTRAL AMERICA 556 457 Impaired Avg. Impaired Avg. 126 bps 240 bps 326 300 261 221 212 178 81 70 62 64 231 221 204 216 195 87 67 58 170 195 170 54 31 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 COLOMBIA 1,552 1,588 1,338 Q1/20 Q2/2003/2004/20 Q1/21 Q2/21 Q3/21 Q4/21 939 1,290 1,322 1,152 1,194 738 Impaired Avg. 970 760 439 361 667 bps 579 471 1,065 542 492 143 385 764 726 406 470 395 636 245 287 534 256 361 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 PCL as a % of avg. net loans (bps)² Loan Balances Q4/21 Secured ($B) Unsecured ($B) Spot Total ($B) Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 PCLs on Impaired Loans as a % of avg. net loans (bps) 2 Average Impaired PCL % (Q1/20-Q4/21)² Mexico Peru Chile Colombia Caribbean & CA $11 $3 $19 $2 $9 $2 $5 $5 $4 $2 $13 $8 $24 $6 $11 Total³ $44 $18 $62 1 PCL excludes impact of additional pessimistic scenario 2 Refer to page 141 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 3 Total includes other smaller portfolios 34#35Retail 90+ Days Past Due Loans¹ CANADA² Q1/20 Q2/20³ Q3/20³ Q4/20³ Q1/213 Q2/213 Q3/213 Q4/213 Mortgages 0.21% 0.21% 0.19% 0.15% 0.17% 0.16% 0.13% 0.12% Personal Loans 0.63% 0.72% 0.63% 0.51% 0.54% 0.51% 0.41% 0.39% Credit Cards 1.02% 1.12% 0.81% 0.70% 0.98% 0.75% 0.57% 0.63% Secured and 0.25% 0.26% 0.23% 0.19% 0.22% 0.18% 0.15% 0.16% Unsecured Lines of Credit Total 0.29% 0.30% 0.26% 0.21% 0.23% 0.21% 0.18% 0.17% INTERNATIONAL Q1/20 Q2/20³ Q3/20³ Q4/20³ Q1/213 Q2/213 Q3/213 Q4/213 Mortgages 2.65% 3.05% 2.94% 2.70% 2.76% 2.67% 2.60% 2.36% Personal Loans 3.89% 4.04% 4.02% 4.19% 5.79% 5.29% 4.42% 3.73% Credit Cards 3.26% 3.35% 2.72% 2.61% 7.08% 5.83% 3.14% 2.20% Total 3.22% 3.36% 3.18% 3.05% 4.05% 3.69% 3.09% 2.66% 1 Defined as: loan balance that is 90+ days past due, divided by the total loan balance, on a spot basis 2 Includes Wealth Management 3 Does not reflect impact of payment deferral programs 35#36International Banking: Pacific Alliance FINANCIAL PERFORMANCE AND METRICS ($MM) Q4/21 Q3/21 Q4/20 Q/Q¹ Y/Y1 Revenue ($MM) 1,649 1,728 1,842 (3%) (4%) Expenses ($MM)² 793 797 883 1% (6%) PTPP2,3 ($MM) Net Income 24 ($MM) 856 931 959 (6%) (3%) 445 442 216 3% 119% NIM 3.78% 3.80% 4.08% (2 bps) Productivity Ratio² 48.1% 46.1% 48.0% 194 bps (30 bps) 12 bps 15% Colombia REVENUE $1.65B 32% Chile GEOGRAPHIC DISTRIBUTION6,7 33% 4% Colombia Mexico 42% 20% Chile Peru NET INCOME²,4 $445MM 38% 11% Mexico Colombia AVG EARNING ASSETS 32% Mexico $130B 39% 16% 19% Chile Peru Peru 1 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 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com 3 Pre-Tax, Pre-Provision Profit defined as revenues less expenses 4 Attributable to equity holders of the Bank 5 Refer to page 141 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 6 For the 3 months ended October 31, 2021 7 May not add due to rounding 36#37Sectors Most Impacted by COVID-191 Most Impacted Sectors as a % of Total Loans Canada Real Estate: Office and Retail C&CA 9% $B %IG 4.0% 4.0% 3.6% 3.5% Mexico 3.3% 2% Office REIT 1.5 78% U.S. 6% $9.6B 59% Office Real Estate 4.0 57% Other 12% (1.5% of total loans) Retail REIT 1.1 100% Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 1% Retail Real Estate 3.1 46% Europe 11% Latin America Total² 9.6 61% Europe Canada Hospitality and Leisure Other 1% 29% $B %IG Energy E&P and Oilfield Services: 0.9% 11% Hotels 3.4 16% Total Loans $663.0B Real Estate Office ― and Retail: 1.5% Transportation - Air 30% Travel: 0.3% U.S. Hospitality and Leisure: 0.6% $4.2B Cruise Lines 0.3 0% (0.6% of total loans) 16% C&CA Gaming 0.5 1% Total² 4.2 13% 4% 9% Latin America Mexico Mexico Transportation: Canada 15% Latin America 6% Air Travel 2% $B %IG 8% Total COVID-19 High Impact: 3.3% C&CA $2.0B Aircraft Finance 0.7 96% 18% (0.3% of total loans) Airlines 0.1 3% 51% Airports 1.1 48% Other Europe Total² 2.0 62% 37 1 Sectors which have experienced the greatest disruption in normal business activities and impact to revenue due to the COVID-19 pandemic (including, but not limited to, government-mandated closures) relative to other sectors 2 May not add due to rounding#38COVID-19 Status in Core Markets 80 New cases per 100k 70 population, 7dma 60 50 40 30 20 10 O Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Daily Confirmed COVID-19 Cases Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 -U.S. Canada Chile Colombia - Mexico Peru Percentage of Eligible of Population with at Least One Dose 100 % 90 80 70 60 50 40 30 20 10 0 Jan-21 ―U.S. Sources: Scotiabank Economics, Johns Hopkins University, Our World in Data. Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 -Canada Chile Colombia -Mexico Peru 38#39(# of days in quarter) Trading Results TWO TRADING LOSS DAYS (Q4/21) TRADING REVENUE1 AND ONE-DAY TOTAL VAR (Q4/21) 16 14 12 10 8 6. 4 Jul. Millions 35 30 5252525 20 15 10 0 -5 -10 -15 2 -20 0 T <0 56789 10 15 20 25 >25 Q4/21 Daily Trading Revenues ($MM) 2-Aug-21 9-Aug-21 16-Aug-21 23-Aug-21 30-Aug-21 6-Sep-21 13-Sep-21 1 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2021 Annual Report, available on http://www.sedar.com 1-day total VaR 20-Sep-21 27-Sep-21 4-Oct-21 11-Oct-21 Average 1-Day Total VaR Q4/21: $9.8 MM Q3/21: $ 12.3 MM Q4/20: $16.7 MM ми 18-Oct-21 25-Oct-21 Actual Daily Revenue 39#40Impact of Foreign Currency Translation 1 Includes the impact of all currencies. Average Exchange Rate Q4/21 Q/Q Y/Y US Dollar/Canadian Dollar Mexican Peso/Canadian Dollar Peruvian Sol/Canadian Dollar Colombian Peso/Canadian Dollar Chilean Peso/Canadian Dollar 0.796 (2.2%) 5.2% 16.065 (1.2%) (2.0%) 3.239 2.8% 19.9% 3,043 (0.2%) 631.752 6.2% 6.2% 6.8% Average Exchange Rate FY21 FY21/FY20 US Dollar/Canadian Dollar Mexican Peso/Canadian Dollar Peruvian Sol/Canadian Dollar Colombian Peso/Canadian Dollar Chilean Peso/Canadian Dollar 0.795 6.9% 16.035 1.3% 3.032 18.0% 2,929 7.6% 593.123 0.2% Impact on Net Income¹ ($MM except EPS) Q/Q Y/Y FY21/FY20 Net Interest Income (10) (110) (512) Non-Interest Income² (9) (38) (276) Total Revenue (19) (148) (788) Non-Interest Expenses 93 408 Other Items (Net of Tax) Net Income 6 33 203 (13) (22) (177) Earnings Per Share (diluted) (0.01) (0.02) (0.14) Impact by business line ($MM) Canadian Banking International Banking2 Global Wealth Management (1) (6) (13) (36) (130) (2) (15) Global Banking and Markets 5 (14) (79) Other² (5) 31 53 Net Income (13) (22) (177) 40 40 2 Includes the impact of foreign currency hedges.#41Investor Relations Contact Information John McCartney, Senior Vice-President 416-863-7579 [email protected] Sophia Saeed, Vice-President 416-933-8869 [email protected] Mark Michalski, Director 416-866-6905 [email protected] Rene Lo, Director 416-866-6124 [email protected] 41