#1Investor Presentation Fourth Quarter 2022 November 29, 2022 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 2022 Annual Report under the headings "Outlook" and in other statements regarding the Bank's objectives, strategies to achieve those objectives, the regulatory environment in which the Bank operates, anticipated financial results, and the outlook for the Bank's businesses and for the Canadian, U.S. and global economies. Such statements are typically identified by words or phrases such as "believe," "expect," "foresee," "forecast," "anticipate," "intend," "estimate," "plan," "goal," "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 2022 Annual Report, as may be updated by quarterly reports. Material economic assumptions underlying the forward-looking statements contained in this document are set out in the 2022 Annual Report under the headings "Outlook", as updated by quarterly reports. The "Outlook" 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#3Opening Remarks Brian Porter President & CEO Strong P&C Banking results Resilient market sensitive businesses Robust asset growth Prudent risk management 3#4Fiscal 2022 Overview Raj Viswanathan Group Head & CFO 4#5Fiscal 2022 Financial Performance $MM, except EPS 2022 Y/Y Reported Net Income $10,174 2% Pre-Tax, Pre-Provision Profit¹ $14,314 (2%) Diluted EPS $8.02 4% • Revenue $31,416 1% Expenses $17,102 3% Productivity Ratio² 54.4% 120 bps Net Interest Margin³ 2.20% (3 bps) • PCL Ratio² 19 bps (10 bps) PCL Ratio on Impaired Loans² 24 bps (29 bps) Adjusted³ Net Income $10,749 6% Pre-Tax, Pre-Provision Profit $14,990 • Diluted EPS $8.50 8% Revenue Expenses $31,777 2% Productivity Ratio $16,787 52.8% 3% 60 bps • REPORTED NET INCOME YEAR-OVER-YEAR ($MM) 9,955 1,154 426 113 (990) (484) 2021 Net interest Non-interest income income PCLS Non-interest expenses WHOLE YEAR HIGHLIGHTS Adjusted EPS up 8% (reported up 4%), driven by higher revenues, lower PCLs and strong expense management Adjusted pre-tax, pre-provision profit in line with prior year (reported down 2%) 。 Strong result from P&C businesses was offset by GBM and higher funding cost impacting the Other segment Adjusted revenue up 2% (reported up 1%) 。 Net interest income up 7% o Adjusted non-interest income down 4% (reported down 7%), driven by lower investment gains Net interest margin down 3 bps 。 Lower contribution from asset/liability management activities related to higher funding costs Strong adjusted ROE³ of 15.6% (reported 14.8%) REPORTED NET INCOME4 BY BUSINESS SEGMENT ($MM) +15% 2021 2022 +38% -8% -1% 10,174 4,155 4,763 1,565 1,556 2,075 1,911 1,756 2,418 Taxes 2022 Canadian Banking Global Wealth Management Global Banking and Markets International Banking (Constant FX) 3 1 Pre-Tax, Pre-Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 43 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 2 3 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com 4 Attributable to equity holders of the Bank 5#6Q4 2022 Financial Performance $MM, except EPS Q4/22 Y/Y Q/Q Reported Net Income $2,093 (18%) (19%) Pre-Tax, Pre-Provision Profit¹ $3,097 (9%) (14%) Diluted EPS $1.63 (17%) (22%) Revenue $7,626 (1%) (2%) Expenses $4,529 6% 8% Productivity Ratio² 59.4% 380 bps 570 bps Net Interest Margin³ 2.18% 1 bp (4 bps) PCL Ratio² 28 bps 18 bps 6 bps PCL Ratio on Impaired Loans² 26 bps (5 bps) 5 bps Adjusted³ Net Income $2,615 (4%) Pre-Tax, Pre-Provision Profit $3,700 2% 2% Diluted EPS $2.06 (2%) (2%) Revenue $7,987 4% 2% Expenses $4,287 6% 3% Productivity Ratio 53.7% 90 bps 30 bps REPORTED NET INCOME YEAR-OVER-YEAR ($MM) 2,559 405 (466) 214 (361) (258) Q4/21 Net interest Non-interest Income income PCLs Non-interest Taxes expenses • • YEAR-OVER-YEAR HIGHLIGHTS Adjusted EPS down 2% (reported down 17%) o Adjusting items (slide 20) - EPS impact of ($0.43) Adjusted pre-tax, pre-provision profit up 2% (reported down 9%) Adjusted revenue up 4% (reported down 1%) o Net interest income up 10%, due primarily to strong asset growth across all business lines o Adjusted non-interest income down 3% (reported down 13%) NIM down 4 bps Q/Q o Lower contribution from asset/liability management activities, as well as lower Canadian Banking margin Expenses up 6% o Higher personnel costs, performance-based compensation and costs to support business growth Strong adjusted ROE³ of 15.0% (reported 11.9%) REPORTED NET INCOME4 BY BUSINESS SEGMENT ($MM) -5% Q4/21 Q4/22 -6% -4% +25% 2,093 1,238 1,170 385 361 502 484 515 643 Q4/22 Canadian Banking Global Wealth Management Global Banking and Markets International Banking (Constant FX) 3 1 Pre-Tax, Pre-Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 43 2 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 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 2022 Annual Report, available on http://www.sedar.com 4 Attributable to equity holders of the Bank 6#7Strong Capital Position CETI ratio of 11.5%¹ Q/Q CHANGE IN CET1 RATIO (%) 21 bps 2 bps 11.5% 11.4% (14 bps) (1 bp) Q3 2022 Reported Earnings less dividends RWA Growth (ex. FX) FVOCI securities Other (net) Q4 2022 Reported 452.8 Q/Q CHANGE IN RISK WEIGHTED ASSETS ($Bn) 3.7 10.1 1.7 (0.1) 0.6 (6.4) 462.4 Q3 2022 Business Growth Book Quality Model Updates & FX & Other Implementations Market Risk Operational Risk Q4 2022 1 This measure has been disclosed in this document in accordance with OSFI Guideline - Capital Adequacy Requirements (November 2018) • Strong internal capital generation from earnings and improvements in book quality, partially offset by: o Organic growth from business and retail lending o Valuation changes in investment securities • RWA increased $9.6 billion Q/Q, mainly from the impacts of foreign currency translation Business growth includes organic loan growth of $6.1 billion, partially offset by a reduction in counterparty credit risk of $2.4 billion 7#8Canadian Banking $MM Q4/22 Y/Y Q/Q Reported Net Income¹ $1,170 (5%) (4%) Pre-Tax, Pre-Provision Profit² $1,737 10% Revenue $3,134 11% Expenses $1,397 12% PCLS $163 nmf 1% 74% Productivity Ratio³ 44.6% 40 bps 20 bps Net Interest Margin4 2.26% 6 bps (3 bps) PCL Ratio³ 15 bps 25 bps 6 bps PCL Ratio on Impaired Loans³ 14 bps 4 bps 1 bp Adjusted4 Net Income¹ $1,174 (5%) (4%) Pre-Tax, Pre-Provision Profit $1,743 10% Expenses $1,391 12% 1% Productivity Ratio 44.4% 40 bps 20 bps REPORTED NET INCOME¹ ($MM) AND NIM (%) 2.20% 2.19% 2.22% 2.29% 2.26% 1,238 1,201 1,179 1,213 1,170 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 1 Attributable to equity holders of the Bank YEAR-OVER-YEAR HIGHLIGHTS Net income down 5% o Pre-tax, pre-provision profit up 10% o Higher PCLS reflect less favourable macroeconomic outlook and allowance releases in the prior year Revenue up 11% 。 Net interest income up 13% o Strong loan and deposit growth o Margin expansion 。 Non-interest revenue up 3% NIM up 6 bps but down 3 bps Q/Q o Q/Q decline due primarily to lower loan spreads partially offset by higher deposit spreads Expenses up 12% o Higher technology and personnel costs Adjusted FY22 operating leverage³,4 of +1.5% (Reported +1.6%) Loan growth of 12% o Business loans up 25% o Residential mortgages up 11% Deposit growth of 7% o Personal deposits up 8% o Non-personal deposits up 6% 2 Pre-Tax, Pre-Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 43 3 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 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 2022 Annual Report, available on http://www.sedar.com 8#9Global Wealth Management $MM, except AUM/AUA Q4/22 Y/Y Q/Q Reported Net Income¹ $361 (6%) (4%) Pre-Tax, Pre-Provision Profit² $491 (6%) (5%) Revenue $1,289 (4%) (2%) Expenses $798 (3%) PCLS $1 nmf nmf Productivity Ratio³ 61.9% 80 bps 130 bps AUM ($Bn)³ $311 (10%) (3%) AUA ($Bn)³ $580 (3%) Adjusted 4 Net Income¹ $368 (6%) (4%) Pre-Tax, Pre-Provision Profit $500 (6%) (5%) Expenses $789 (3%) Productivity Ratio 61.2% 70 bps 130 bps • YEAR-OVER-YEAR HIGHLIGHTS • Net income down 6% Revenue down 4% o Lower mutual fund fees mainly driven by market volatility and lower asset values o Higher net interest income from strong Private Banking loan growth and margin expansion Expenses down 3% FY22 operating leverage³ was flat o Excluding impact of performance fees, adjusted FY22 operating leverage 4 of +0.8% (reported +0.9%) AUM down 10% and AUA down 3% o Impacted by market depreciation AUM AUA -10% -3% Y/Y Y/Y REPORTED NET INCOME¹ ($MM) AND ROE* (%) 346 597 581 580 17.2% 17.5% 320 31 311 109 +15% 16.3% 116 31 -2% 125 31 Y/Y 15.5% 14.8% Y/Y 412 -7 315 -11% -7% 289 488 280 465 455 Y/Y Y/Y 385 405 407 376 361 Q4/21 Q3/22 Q4/22 ■ Canada 1 Attributable to equity holders of the Bank Q4/21 Q3/22 ■International Q4/22 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 ■ Performance Fees 2 Pre-Tax, Pre-Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 43 3 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 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 2022 Annual Report, available on http://www.sedar.com 9#10Global Banking and Markets $MM Q4/22 Y/Y Q/Q Reported Net Income¹ $484 (4%) 28% • Pre-Tax, Pre-Provision Profit² $658 12% 32% Revenue $1,354 15% 18% Expenses $696 18% 6% PCLs $11 nmf nmf Productivity Ratio³ 51.4% 110 bps (540 bps) PCL Ratio4 3 bps 21 bps PCL Ratio Impaired Loans4 6 bps 5 bps 8 bps 12 bps . REVENUE BY BUSINESS ($MM) YEAR-OVER-YEAR HIGHLIGHTS Net income down 4% (up 28% Q/Q) Revenue up 15% o Net interest income up 35%, driven by strong average loan and deposit growth and improved margins 。 Non-interest income up 6%, driven by strong Business Banking income was partially offset by lower Capital Markets revenue due to challenging market conditions Expenses up 18% Lower recovery on provision for credit losses • Loans up 31% (up 10% Q/Q) 15.5% 1,404 1,354 1,262 1,177 1,152 504 736 554 555 423 Deposits up 12% NET INCOME ($MM) AND ROE* (%) 17.4% 15.6% 11.1% 13.4% 561 502 488 484 850 622 668 708 729 378 Q4/21 Q1/22 Q2/22 Business Banking 1 Attributable to equity holders of the Bank Q3/22 Capital Markets Q4/22 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 2 Pre-Tax, Pre-Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 43 3 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 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 2022 Annual Report, available on http://www.sedar.com 10#11International Banking Constant dollar basis 1,5 $MM Q4/22 Q4/21 Y/Y1 Q3/22 Q/Q¹ • Reported • Net Income² $643 $515 25% $621 4% • Pre-Tax, Pre-Provision $1,140 $1,044 9% $1,115 2% Profit³ Revenue $2,504 $2,322 8% $2,426 3% Expenses $1,364 $1,278 7% $1,311 4% PCLS $355 $323 10% $328 8% Productivity Ratio4 54.5% 54.3% 20 bps 53.5% 100 bps Net Interest Margin 5,6 4.08% 3.78% 30 bps 3.95% 13 bps • PCL Ratio4 89 bps 91 bps (2 bps) 84 bps 5 bps PCL Ratio Impaired Loans4 81 bps 118 bps (37 bps) 68 bps 13 bps • Adjusted5 Net Income² $650 $521 25% $628 4% Pre-Tax, Pre-Provision $1,149 $1,054 9% $1,124 2% • Profit Expenses $1,355 $1,268 7% Productivity Ratio 54.1% 53.9% 20 bps $1,302 53.2% 4% 90 bps • YEAR-OVER-YEAR HIGHLIGHTS1 Net income² up 25% (up 4% Q/Q) Pre-tax, pre-provision profit up 9% Revenue up 8% o Net interest income up 11%, driven by strong loan growth and margin expansion o Non-interest income was stable as higher banking fees (+6%) was offset by lower securities and investment gains Expenses up 7%; adjusted FY22 operating leverage 4,5 of +1.8% (reported +1.9%) NIM up 13 bps Q/Q o Asset repricing faster than the increase in funding costs and changes in deposit mix Loans up 12% (up 2% Q/Q) 。 Mortgages up 16% Y/Y and commercial up 12% Y/Y o Retail loans up 3% Q/Q and commercial up 2% Q/Q PCLs up 10%, PCL ratio down 2 bps REPORTED NET INCOME² ($MM) AND NIM6 (%) 3.78% 3.87% 3.96% 3.95% 4.08% 515 544 588 621 643 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, on a constant dollar basis Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 3 Pre-Tax, Pre-Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 43 4 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 11 5 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com 6 Prior period has been restated to include as a deduction non-interest bearing deposits with banks, to align with the Bank's definition#12Other 1, 2 REPORTED NET INCOME ($MM) (67) (52) (164) (10) Q4/21 Q1/22 Q2/22 (603) Q3/22 Q4/22 1, 2, 3 ($MM) ADJUSTED NET INCOME (35) (10) (52) (67) (100) Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 • HIGHLIGHTS Reported net income attributable to equity holders includes adjusting items of $503 million ($579 million pre- tax) HIGHLIGHTS Higher funding costs resulting from higher interest rates and asset/liability management activities Represents smaller operating segments including Group Treasury and corporate adjustments 2 Attributable to equity holders of the Bank 3 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com 12 12#13Risk Review Phil Thomas Chief Risk Officer • Strong credit quality: Gross impaired loan formations remained near historical lows Prudent allowances: Balance sheet remained strong; sufficient coverage for increased uncertainty Credit performance within expectations: Allowance build mainly in International Banking 13#14Strong Credit Quality GILS ($MM) AND GIL RATIO1 77 bps 81 bps 73 bps 67 bps 64 bps 60 bps 58 bps 62 bps 5,116 33 27 4,770 218- 286 4,735 28 1,040 - 219 235 4,456 26 4,435 32 4,264 32 4,252 27 231 1,106 921 168 4,786,18 -156 130 917 941 904 824 771 3,757 3,419 3,551 3,270 3,268 3,240 3,324 3,695 HIGHLIGHTS Gross formations remained near historical lows Excluding the impact of foreign exchange, gross impaired loans increased $366 million Q/Q 76 bps 62 bps 54 bps 1,141 219 34 bps 27 bps 25 bps 13 21 bps 24 bps 827 983 1 8 173 27- Q1/20 Q2/21 Q3/21 Q4/21 (Pre-pandemic) Q1/22 Q2/22 Q3/22 Q4/22 NET WRITE-OFFS ($MM) AND NET WRITE-OFFS RATIO¹ HIGHLIGHTS Net write-offs increased 20% Q/Q, mostly driven by lower Business Banking recoveries in current quarter Write-offs remained near historical lows in both Canada and International, driven by lower impairments 256 560 1 123 910 801 1 457 139 4 422 4 144 385 3 462 5 155 . Net write-offs ratio increased 3 bps Q/Q 132 544 435 311 274 283 302 Q1/20 Q2/21 (1) Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 (33)Q4/22 (Pre-pandemic) International Banking Canadian Banking Global Banking and Markets Global Wealth Management 1 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 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 Within Expectations HIGHLIGHTS YEAR-OVER-YEAR Increase driven by performing PCLs vs. net releases in the prior year Performing PCLs driven by less favourable macroeconomic forecast and strong portfolio growth QUARTER-OVER-QUARTER $35 million in performing PCLs in Q4/22 was driven by less favourable macroeconomic forecast and strong portfolio growth Impaired PCLs remained near historical lows PCLs ($MM) Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 All-Bank Impaired 511 Performing 405 406 389 494 • (343) (183) (187) 23 35 Total 168 222 219 412 529 • Canadian Banking Impaired 99 125 131 143 153 Performing (195) (160) (143) (50) 10 Total (96) (35) (12) 93 163 International Banking Impaired 407 286 278 262 320 Performing (93) (12) (2) 63 35 Total 314 274 276 325 355 Global Wealth Management Impaired 3 2 1 2 (1) Performing (2) (3) - 3 2 Total 1 (1) 1 5 1 Global Banking and Markets Impaired 2 (8) (4) (18) 22 Performing (52) (8) (42) 3 (11) Total (50) (16) (46) (15) 11 Other (1) (1) 15 15#16Prudent Allowances TOTAL ACLs1 ($MM) AND ACL RATIO² 109 bps 96 bps 82 bps 86 bps 80 bps 75 bps 72 bps 71 bps 6,893 23 6,232 1,691 22 5,731 5,095 5,583 23 5,375 20 5,295 5,499 17 1,529 20 28 28 1,368 1,326 1,255 1,114 1,276 1,368 2,056 2,009 1,386 1,863 1,723 1,595 1,532 1,528 2,578 3,123 2,672 2,477 2,514 2,505 2,459 2,575 Q1/20 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 (Pre-pandemic) 3 International Retail Canadian Retail Business Banking GWM/Other TOTAL PCLs ($MM) AND PCL RATIO4 51 bps 33 bps 22 bps 28 bps 24 bps 10 bps 13 bps 13 bps 18 771 496 250 145 503 396 380 339 69 168 314 222 219 1 274 (35) 276 412 93 325 529 11 9 163 355 (43) \(27) (96) (2) (1) `(50) (16) (1) (12) (46) (15) Q1/20 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 (Pre-pandemic) Q3/22 Q4/22 5 International Banking ■Canadian Banking ■Global Banking and Markets ■GWM/Other HIGHLIGHTS Balance sheet remained strong with allowances of $5.5 billion Prudent performing allowance of $3.8 billion to account for growth and uncertainty in economic outlook Total ACL ratio of 71 bps Secured Retail portfolio (Canada - 95%; International - 72%) Improving quality of Business Banking portfolios due to focus on investment grade clients HIGHLIGHTS Total PCL ratio of 28 bps, up 6 bps Q/Q о Higher performing PCLs driven by less favourable macroeconomic forecast and strong portfolio growth Impaired PCLS remained near historical lows 1 Includes ACLs on off-balance sheet exposures and ACLS on acceptances and other financial assets 2 ACL ratio defined as period end total ACLS (excluding debt securities and deposits with financial institutions) divided by gross loans and acceptances 3 Includes Allowance for credit losses in Other of $4 million (Q3/22: $5 million) 4 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 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 Includes provisions for credit losses in Global Wealth Management of $1 million (Q1/21: $4 million, Q2/21: -$2 million, Q3/21: -1$ million, Q4/21: $1 million, Q1/22: -$1 million, Q2/22: $1 million, Q3/22: $5 million) 16#17Closing Remarks Brian Porter President & CEO Focused Americas strategy Leading digital sales and adoption Superior credit quality Repositioned for diversified growth 17#18Appendix 18#19Net Income and Adjusted Diluted EPS Net Income ($MM) and EPS ($ per share) Q4/21 Q3/22 Q4/22 FY21 FY22 1 Net Income attributable to common $2,411 $2,504 $1,949 $9,391 $9,656 shareholders Dilutive impact of share-based payment options and others $3 $6 $4 $43 $36 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) $2,414 $2,510 $1,953 $9,434 $9,692 - Canadian Tire Financial Services Weighted average number of common shares outstanding 1,215 1,195 1,192 1,214 1,199 Dilutive impact of share-based payment options and others Weighted average number of diluted common shares outstanding 1 8 7 11 9 1,224 1,203 1,199 1,225 1,208 Reported Basic EPS Dilutive impact of share-based payment options and others Reported Diluted EPS $1.98 $2.10 $1.64 ($0.01) ($0.01) ($0.01) $1.97 $2.09 $1.63 Impact of adjustments on diluted $0.13 $0.01 $0.43 earnings per share¹ $7.74 $8.05 ($0.04) ($0.03) $7.70 $8.02 $0.17 $0.48 Adjusted Diluted EPS1 $2.10 $2.10 $2.06 $7.87 $8.50 1 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com 19#20Adjusting Items¹ Adjusting Items (Pre-Tax) ($MM) Acquisition-Related Costs Amortization of Intangibles Canadian Banking International Banking Q4/21 Q3/22 Q4/22 FY21 FY22 2 25 24 24 103 97 629 10 529 6 22 22 10 9 45 39 9 36 36 Global Wealth Management Other Net Loss/(Gain) on Divestitures Expansion of the Scene+ Loyalty Program Restructuring and Other Provisions Total (Pre-Tax) Adjusting Items (After-Tax and NCI) ($MM) Acquisition-Related Costs 3 Amortization of Intangibles Canadian Banking International Banking Global Wealth Management 361 133 188 213 24 85 603 361 133 188 85 291 676 Q4/22 After-Tax Q4/21 Q3/22 Tax NCI FY21 FY22 and NCI 18 17 4 7 7 622 1477 6222 7467 18 75 16 32 27 7607 71 16 28 27 Other Net Loss/(Gain) on Divestitures Expansion of the Scene+ Loyalty Program Restructuring and Other Provisions Total (After-Tax and NCI) 21 340 340 35 98 98 129 19 1 65 129 65 147 17 81 1 521 204 574 1 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com 2 Excludes amortization of intangibles related to software (pre-tax) 3 Excludes amortization of intangibles related to software (after-tax) 20 20#21Other Items Impacting Financial Results 1,2 (Pre-Tax) ($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 SCENE loyalty program Total Total (Pre-Tax) Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 FY21 FY22 22 10 10 2 10 . 11 11 84 84 10 10 (66) (66) 29 - 10 (After-Tax and NCI) ($MM) 1 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 FY21 FY22 International Banking One month reporting lag elimination Impact of closed divestitures 2 Total 2 7 7 Global Wealth Management One month reporting lag elimination Performance fees Total Other 7 7 SCENE loyalty program Total Total (After-Tax and NCI) - 2 Impact on diluted earnings per share - 7 $0.01 33 62 7 62 7 (49) (49) - 20 7 - $0.02 $0.01 1 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 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 21 21#22Risk Adjusted Margin¹ and NIM² RISK ADJUSTED MARGIN 3.31% 3.31% 3.22% 3.22% 3.03% ALL-BANK NET INTEREST MARGIN 1 bp 2.30% (5 bps) 2.22% 2.23% 2.20% 2.10% 222 bps 2.08% 2.12% 2.05% 2.02% 1.94% 218 bps Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q3/22 Spreads Business Mix Q4/22 All-Bank Canadian Banking International Banking CANADIAN BANKING NET INTEREST MARGIN 229 bps INTERNATIONAL BANKING NET INTEREST MARGIN³ 4 bps (3 bps) (4 bps) 395 bps 226 bps 13 bps 2 bps (2 bps) 408 bps Q3/22 Spreads Prime BA/CDOR Compression Mortgage Prepayment Fees Q4/22 Q3/22 Spreads Inflation Business Mix Q4/22 1 Risk-Adjusted Margin calculated as (Net Interest Income less Provision for Credit Losses) / Average Core Earning Assets. See non-GAAP reconciliations beginning on slide 43 2 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com 3 Prior period has been restated to include as a deduction non-interest bearing deposits with banks, to align with the Bank's definition 22 22#235.0 Interest Rate Sensitivity NET INTEREST INCOME SENSITIVITY Impact of an immediate and sustained 100 bps parallel shift on net interest income over a 12-month period 100 bps increase: $340 million decrease in net interest income Canada POLICY RATE CHANGE AND OUTLOOK Change During Fiscal Quarters (bps) Current Policy Forecast Policy Rate Country Q1/22 Q2/22 Q3/22 Q4/22 Q1/232 Rate for Dec 31/223 Forecast Policy Rate for Dec 31/233 +75 +150 +125 - 3.75% 4.25% 4.00% ○ 100 bps decrease: $326 million increase in net interest income US Mexico Colombia +150 +200 - +25 +200 +75 +75 4.00% 4.50% 4.75% +75 +100 +125 +150 +75 10.00% 10.50% 10.50% +300 +200 11.00% 11.50% 9.00% • Above estimates assume a static balance sheet and no management actions¹ Peru +150 +150 +150 +100 Chile +275 +150 +275 +150 +25 7.25% 11.25% 7.25% 7.00% 11.25% 3.5% Balance sheet positioned to benefit from declining rates INTEREST RATE ENVIRONMENT² Canada and U.S. Interest Rate Environment (%) Mexico and Chile Interest Rate Environment (%) 12.0 4.0 10.0 3.0 8.0 6.0 2.0 4.0 1.0 2.0 0.0 0.0 Oct-19 Apr-20 Oct-20 Apr-21 Oct-21 Apr-22 Oct-22 Oct-19 Apr-20 Oct-20 Apr-21 Oct-21 Apr-22 Oct-22 BoC Overnight Rate Fed Funds Rate CAD 5-Yr Swap Rate USD 5-Yr Swap Rate Bank of Mexico Overnight Rate Bank of Chile Monetary Policy Rate -MXN 5-Yr Swap Rate CLP 5-Yr Swap Rate 1 Additional detail regarding non-trading interest rate sensitivity can be found on page 228 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com 2 As of November 22, 2022 3 Source: Scotia Economics. US and Canada as at Oct 17, 2022 forecast, Pacific Alliance countries as at Nov 4, 2022 forecast 23#24All-Bank NIM¹ Calculation All-Bank ($ millions) Average total assets² Less: Non-earning assets Average total earning assets² Q4/21 Q3/22 Q4/22 1,172,707 1,295,165 93,136 111,324 1,332,897 126,213 1,079,571 1,183,841 1,206,684 Less: Trading Assets 143,946 128,890 117,807 Securities purchased under resale agreements and securities borrowed 119,195 146,002 157,438 Other deductions 55,380 62,710 69,343 Average core earning assets² 761,050 846,239 862,096 Net Interest Income 4,217 4,676 4,622 Less: Non-core net interest income 50 (53) (122) Net interest income on core earning assets 4,167 4,729 4,744 Net interest margin 2.17% 2.22% 2.18% Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com 2 Average balances represents the average of daily balance for the period 24 24#25Q4 2022 Business Line Performance Reported Basis Pre-Tax, Pre-Provision Revenues Revenues $MM Profit (PTPP)1 Pre-Tax, Pre-Provision Operating Profit (PTPP)1 Leverage² Q4/22 Y/Y Q4/22 Y/Y FY22 Y/Y FY22 Y/Y FY22 Canadian Banking $3,134 11% $1,737 10% $12,030 10% $6,642 12% 1.6% International Banking $2,504 8%3 $1,140 8%3 $9,727 1%3 $4,515 3%3 1.9% (Reported FX) Global Wealth $1,289 (4%) $491 (6%) $5,381 $2,122 (0.1%) Management Global Banking and Markets $1,354 15% $658 12% $5,172 3% $2,498 (3%) (5.8%) Total Business Lines $8,281 8% $4,026 7% $32,310 4% $15,777 5% 0.6% Total incl. Other Segment $7,626 (1%) $3,097 (9%) $31,416 1% $14,314 (2%) (2.4%) Total incl. Other $7,987 4% $3,700 2% $31,777 2% $14,990 (1.1%) Segment (Adjusted)4 The 4 business lines delivered solid PTPP growth of 7% Y/Y (and FY22 growth of 5%) on a reported basis: о Revenue up 8% Y/Y from strong asset growth across all business lines ○ ○ Expenses up 8% Y/Y from higher technology and personnel costs to support business growth Positive FY22 operating leverage Pre-Tax, Pre-Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 43 2 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 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 On a constant currency basis, revenues increased 8% Y/Y and 4% for FY22, while PTPP increased 9% Y/Y and 7% for FY22 4 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com 25 25#26Digital Progress: All-Bank • Canada: Strong Digital Sales growth, supported by growth in Active Digital Users and Active Mobile Users. • Pacific Alliance: Continued progress in all Digital metrics, particularly Digital Sales and Digital Adoption. Digital Adoption (%) +300 bps 59% 56% 50% 43% 36% 2018 2019 2020 Q4/21 Digital Sales (%) +2,300 bps Active Digital Users (#000) 7,524 8,073 6,316 5,276 +8% +66% 8,733 2018 2019 2020 Q4/21 Q4/22 +11% Q4/22 Active Mobile Users (#'000)¹ 6,727 5,903 7,496 4,513 3,559 +111% 2018 2019 2020 Q4/21 Q4/22 +800 bps +0 bps 50% 42% 36% 28% +2,800 bps 22% Self-Serve Transactions 89% 92% 92% 77% 81% +1,500 bps (%)² 2018 2019 2020 Q4/21 Q4/22 2018 2019 2020 Q4/21 Q4/22 12018 and 2019 use historical estimation based on available mobile user data for Colombia and Chile 2 Self-serve transactions for prior periods have been restated to conform to the current presentation 26#27Digital Progress: Canada Digital Adoption (%) +7% Active Digital 3,329 3,599 3,847 4,071 4,368 +200 bps Users (#'000) +31% 59% 61% 55% 50% 46% 2018 2019 2020 Q4/21 Q4/22 +1,500 bps +9% 2018 2019 2020 Q4/21 Q4/22 Active Mobile Users (#'000) 3,073 3,393 3,704 2,396 2,666 Digital Sales (%) +55% 2018 2019 2020 Q4/21 Q4/22 +500 bps 28% +0 bps 26% 26% 23%-- +200 bps 16% Self-Serve Transactions 84% 87% 92% 93% 93% +900 bps (%) 2018 2019 2020 Q4/21 Q4/22 2018 2019 2020 Q4/21 Q4/22 Definitions Digital Sales (% of retail unit sales using Digital platforms, excluding auto, broker originated mortgages and mutual funds) Digital Adoption (% of customers with Digital login (90 days) / Total addressable Customer Base) Digital Users: # of customers who logged into website and/or mobile in the last 90 days Mobile Users: # of customers who logged into mobile in the last 90 days Self-serve Transactions: % of Financial transactions through Digital, ABM, IVR 27 27#28Digital Progress: Pacific Alliance Digital Adoption (%) +9% Active Digital 3,677 4,002 4,365 2,717 +500 bps Users (#'000) 1,947 58% +124% 53% 46% 35% +3,200 bps 26% 2018 2019 2020 Q4/21 Q4/22 +14% 3,793 2018 2019 2020 Q4/21 Q4/22 Active Mobile Users (#'000)¹ 3,334 2,830 1,847 +226% 1,163 Digital Sales (%) +1,300 bps 2018 2019 2020 Q4/21 Q4/22 68% +100 bps 55% 51% 29% +4,900 bps 19% Self-Serve Transactions 87% 90% 91% 70% 75% (%)² +2,100 bps 2018 2019 2020 Q4/21 Q4/22 2018 2019 2020 Q4/21 Q4/22 Definitions Digital Sales (% of retail unit sales using Digital platforms) Digital Adoption (% of customers with Digital login (90 days) / Total addressable Customer Base) Digital Users: # of customers who logged into website and/or mobile in the last 90 days Mobile Users: # of customers who logged into mobile in the last 90 days Self-serve Transactions: % of Financial transactions through Digital, ABM, IVR, POS 12018 and 2019 use historical estimation based on available mobile user data for Colombia and Chile; 2 Self-serve transactions for prior periods have been restated to conform to the current presentation 28#29Economic Outlook in Core Markets Real GDP Growth Forecast (2022-24) Real GDP (Annual % Change) 2010- Forecast 1,2 Country 19 2020 2021 2022 2023 2024 Average Q1 Q2 Q3E Q4F Year Q1F Q2F Q3F Q4F Year Year Canada 2.3 (5.2) 4.5 2.9 4.6 3.3 2.1 3.2 1.3 0.4 0.5 0.3 0.6 1.4 U.S. 2.3 (3.4) 5.9 3.7 1.8 1.8 0.0 1.7 0.4 0.5 10 0.1 0.4 0.4 1.6 Mexico 2.7 (8.1) 4.8 1.8 2.0 4.2 1.1 2.3 0.7 0.8 0.5 1.8 1.0 1.9 Chile 3.3 (6.0) 11.7 7.4 5.6 0.3 (3.5) 2.1 (1.8) (2.9) (1.2) 2.0 (0.9) 2.8 Peru 4.5 (11.0) 13.3 3.8 3.3 1.7 2.3 2.8 1.9 3.0 1.8 2.8 2.4 2.2 Colombia 3.7 (7.0) 10.7 8.7 12.8 7.0 4.0 7.6 1.8 2.0 21 2.1 2.2 2.0 3.0 PAC Average³ 3.6 (8.0) 10.1 5.4 5.9 3.3 1.0 10 3.7 0.7 0.7 0.8 2.2 1.1 2.5 Source: Scotiabank Economics 1 Forecasts for Canada and U.S. as of the October 17, 2022 Scotiabank Economics Global Forecast Tables ² Forecasts for PAC countries as of the November 4, 2022 Scotiabank Economics Latam Weekly 3 Simple average 20 29#30Macroeconomic Scenarios Select Macroeconomic Variables used to estimate Expected Credit Losses Next 12 months Canada Real GDP growth, Y/Y % change Base Case Scenario As at As at Alternative Scenario - Optimistic As at As at Alternative Scenario - Pessimistic As at As at Alternative Scenario - Pessimistic Front Loaded As at As at October 31, 2022 October 30, 2021 October 31, 2022 October 30, 2021 October 31, 2022 October 30, 2021 October 31, 2022 October 30, 2021 1.2 3.4 2.4 5.3 (4.8) (1.3) (5.9) (7.4) Consumer price index, Y/Y % change 4.9 3.0 5.2 3.4 9.3 2.0 12.5 1.6 Bank of Canada overnight rate target, average % 3.8 0.3 4.2 0.9 5.1 0.3 5.1 0.3 Unemployment rate, average % 5.7 6.3 5.1 5.6 9.7 8.8 10.2 11.7 US Real GDP growth, Y/Y % change 0.6 5.7 1.3 7.3 (5.1) 2.4 (6.5) (1.4) Consumer price index, Y/Y % change 5.4 4.0 5.8 4.5 10.0 3.3 13.2 2.6 Target federal funds rate, upper limit, average % 3.5 0.3 4.7 0.8 4.8 0.3 4.8 0.3 4.3 3.8 Global Unemployment rate, average % WTI oil price, average USD/bbl 89 69 95 75 116 61 125 57 Quarterly breakdown of the projections for the above macroeconomic variables: Base Case Scenario 4.2 3.4 7.9 5.6 8.3 6.8 Calendar Quarters Average Calendar Quarters Next 12 months Canada Real GDP growth, Y/Y % change Consumer price index, Y/Y % change Q4 2022 Q1 Q2 Q3 October 31 Q4 Q1 Q2 Q3 2023 2023 2023 2022 2021 2022 2022 2022 Average October 31 2021 1.9 6.9 Bank of Canada overnight rate target, average % 3.8 28 1.2 0.6 1.0 1.2 3.1 2.6 3.9 4.1 3.4 5.1 4.0 3.6 4.9 3.7 3.0 2.8 2.6 3.0 3.8 3.8 3.8 3.8 0.3 0.3 0.3 0.5 0.3 Unemployment rate, average % 5.4 5.6 5.8 5.9 5.7 7.0 6.5 6.0 5.7 6.3 4033 US Real GDP growth, Y/Y % change 0.1 0.6 1.0 0.8 0.6 6.7 6.3 5.5 4.2 5.7 Consumer price index, Y/Y % change 7.2 5.8 4.6 4.0 5.4 4.8 4.4 3.8 3.0 4.0 Target federal funds rate, upper limit, average % 3.5 3.5 3.5 3.5 3.5 0.3 0.3 0.3 0.3 0.3 Unemployment rate, average % 3.8 4.1 4.4 4.8 4.3 4.6 4.0 3.5 3.1 3.8 Global WTI oil price, average USD/bbl 90 89 89 888 89 70 10 Source: Scotiabank Economics, forecasts as of September 12, 2022 69 69 69 69 50 30#31Revenue Growth Canadian Banking1 +11% International Banking1 (Constant Dollar Basis)² +8% 3,119 3,134 2,831 818 838 +28% 2,504 653 2,322 36 495 2,426 550 35 29 -20% 546 +10% 2,177 2,301 2,296 +5% 1,789 1,842 1,929 +8% Q4/21 Q3/22 Q4/22 Business Banking Retail Banking Global Wealth Management¹ Q4/21 Q3/22 Q4/22 Latin America C&CA Asia Global Banking and Markets 1,3 -4% +15% 1,347 1,312 149 164 1,289 163 1,354 +10% 1,177 1,152 311 299 226 +4% 193 197 256 -25% 1,198 -6% 1,148 1,126 622 729 850 +37% Q4/21 Q3/22 Canada Q4/22 International Q4/21 Q3/22 Q4/22 Business Banking Global Equities FICC 1 May not add due to rounding 2 Figures are on a constant dollar basis. Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com 3 GBM LatAm revenue contribution and assets are reported in International Banking's results 31#32Loan Growth by Business Line Canadian Banking1 International Banking1 Global Banking and Markets +12% (Constant Dollar Basis)² 442 +12% 434 395 161 78 81 +25% 157 65 55 -7 +11% 143 69 69 6 F 71 72 +4% 89 90 +12% 81 60 7 19 199 19 +31% 123 111 8 +21% 94 +4% 43 44 +16% 38 278 282 255 +11% 18 Q4/21 Q3/22 Q4/22 Q4/21 Q3/22 Q4/22 Residential mortgages Personal loans Credit cards Business Q4/21 Q3/22 Q4/22 2 Figures are on a constant dollar basis. Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com 1 May not add due to rounding 32 32#33Deposit Growth Canadian Banking¹ International Banking 1,2 (Constant Dollar Basis)³ +7% 311 320 +8% 298 110 115 116 +6% 111 113 104 67 73 15 75 +12% 188 196 204 +8% 37 38 38 +1% Q4/22 Q4/21 Q3/22 Q4/22 Q4/21 Q3/22 Global Banking and Markets 1,2 +12% Global Wealth Management¹ -6% 39 40 170 179 19 19 160 19 Q4/21 Q3/22 Q4/22 Personal 20 20 332 37 17 -12% 24 21 20 +1% Q4/21 Q3/22 Q4/22 Non-Personal 3 Figures are on a constant dollar basis. Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com 1 May not add due to rounding 2 Includes deposits from banks 33#34Canadian Retail: Loans and Provisions' 1 1 1 1 0 0 MORTGAGES AUTO LOANS 91 99 39 37 41 39 50 50 89 78 4 35 45 31 (6) (4) (5) Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 LINES OF CREDIT³ Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 CREDIT CARDS6 2016 62 70 33 41 36 48 51 48 48 45 60 57 32 28 (8) (6) 10 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 PCL as a % of avg. net loans (bps)² Loan Balances Q4/22 Spot ($Bn)4 % Secured 1 Includes Wealth Management Mortgages $302 100% पापा 410 380 322 288 244 267 268 234 321 310 204 241 116 (84) (55) (59) Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 PCLs on Impaired Loans as a % of avg. net loans (bps)² Auto Loans Lines of Credit³ $41 100% $34 65% Credit Cards $7 2% Total $387 95%5 2 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 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 $11 billion and other smaller portfolios 5 84% secured by real estate; 11% secured by automotive 6 Excluding one-time impact of fully provisioned write-offs, Q3/22 PCL ratio on impaired loans is 280 bps 34#35Canadian Residential Mortgages High quality stable portfolio. Credit trends performing strongly 72% Uninsured Total Portfolio 1,2 $302Bn 28% Insured 63% Fixed Total Portfolio 1,2 $302Bn 37% Variable FICO® Distribution - Canadian Uninsured Portfolio4 86% 1% 5% 8% <620 620-680 681-720 >720 Canadian Mortgage Portfolio Mortgage Variable Portfolio Mortgages Total Outstanding Balance $302Bn $112Bn Uninsured Outstanding Balance Average LTV³ $219Bn $97Bn 49% 57% Canadian Uninsured Mortgage Portfolio Average FICO® Score % of Portfolio Uninsured Canada 799 72% GTA 802 84% GVA 804 84% 1 Includes Wealth Management 2 Spot Balances at Q4/22 3 Weighted by mortgage balances and adjusted for property values based on the Teranet - National Bank National Composite House Price Index 4 FICO is a registered trademark of Fair Isaac Corporation 35#36Canadian Residential Mortgages High quality stable portfolio. Credit trends performing strongly Canadian Mortgage Portfolio: $302Bn (Spot balances as at Q4/22, $Bn) 84% Freehold 166.7 22.5 Freehold $254Bn - (84%) Condos $48Bn (16%) - Total Portfolio 1,2 $302Bn 60.2 144.2 33.0 16.7 43.5 20.4 3.9 11.8 10.4 2.9 0.3 29.1 0.7 17.5 11.5 9.7 Ontario BC & Territories Alberta Quebec Atlantic Provinces Manitoba & Saskatchewan 55.1% % of portfolio Maturity Schedule - Total Canadian Mortgages ($Bn) 19.9% 10.9% 6.8% 3.8% 3.5% New GTA/GVA Mortgage Originations 94.4 Fixed Variable 75.3 66.3 8.2 43.6 Q4/21 Q3/22 Q4/22 52.1 32.7 29.7 3.1 4.6 58.1 50.8 4.0 25.1 29.6 23.2 0.2 3.8 Greater Toronto Area Total Originations ($Bn) Uninsured LTV3 Greater Vancouver Area Total Originations ($Bn) Uninsured LTV3 6.2 5.8 3.5 64% 63% 63% 2.6 2.3 1.3 63% 62% 62% FY23 FY24 FY25 FY26 FY27 FY28+ Asset yield on variable rate mortgages reprice with each change to Scotiabank's prime rate 1 Includes Wealth Management 2 Spot Balances at Q4/22, may not add due to rounding 3 Average LTV ratios for our uninsured residential mortgages originated during the quarter 16% Condos 36#37International Retail: Loans and Provisions MEXICO CHILE CARIBBEAN AND CENTRAL AMERICA 428 Markets with Greater 329 243 326 300 173 81 129 Weighting to 138 111 103 70 106 261 212 237 70 62 64 51 67 65 139 154 133 248 205 204 216 195 Secured 179 93 122 102 98 54 67 58 120 72 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 31 39 46 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 170 45 133 124 108 115 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 PERU COLOMBIA Markets with 2,436 1,588 1,338 Greater Weighting to 1,152 1,194 Unsecured 760 361 1,065 364 353 307 318 726 385 A 352 309 329 492 389 636 534 245 287 289 304 317 346 211 274 203 264 256 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 PCL as a % of avg. net loans (bps)1 PCLs on Impaired Loans as a % of avg. net loans (bps)1 Loan Balances Q4/22 Mexico Peru Chile Colombia Spot ($Bn) % Secured $16 89% $10 43% $27 80% $5 37% Caribbean & CA Total² $13 $72 76% 72% 1 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 2 Total includes other smaller portfolios 37#38Retail 90+ Days Past Due Loans¹,2 CANADA³ Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Mortgages 0.17% 0.16% 0.13% 0.12% 0.12% 0.10% 0.09% 0.09% Personal Loans 0.54% 0.51% 0.41% 0.39% 0.44% 0.40% 0.42% 0.49% Credit Cards 0.98% 0.75% 0.57% 0.63% 0.69% 0.69% 0.65% 0.72% Secured and 0.22% 0.18% 0.15% 0.16% 0.17% 0.18% 0.16% 0.17% Unsecured Lines of Credit Total 0.23% 0.21% 0.18% 0.17% 0.17% 0.15% 0.15% 0.15% Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 INTERNATIONAL Mortgages 2.76% 2.67% 2.60% 2.36% 2.20% 2.14% 2.16% 2.21% Personal Loans 5.79% 5.29% 4.42% 3.73% 3.33% 3.05% 3.03% 3.14% Credit Cards 7.08% 5.83% 3.14% 2.20% 1.88% 1.73% 1.99% 2.32% Total 4.05% 3.69% 3.09% 2.66% 2.42% 2.30% 2.34% 2.42% 1 Defined as: loan balance that is 90+ days past due, divided by the total loan balance, on a spot basis 2 Does not reflect impact of payment deferral programs 3 Includes Wealth Management 38#39International Banking: Pacific Alliance FINANCIAL PERFORMANCE AND METRICS ($MM) Reported Q4/22 Q3/22 Q4/21 Q/Q¹ Y/Y1 (Constant FX) 1,2 Revenue ($MM) $1,742 $1,669 $1,648 4% 6% Expenses ($MM) $835 $794 $796 5% 5% PTPP³ ($MM) $907 $875 $851 4% 7% Net Income ($MM) $528 $508 $440 4% 20% Net Interest Margin 5,6 3.85% 3.82% 3.83% 3 bps 2 bps Productivity Ratio5 47.9% 47.7% 48.6% 20 bps (70 bps) GEOGRAPHIC DISTRIBUTION 7,8 13% Colombia 1% 35% Colombia 39% 9% Mexico Colombia 30% REVENUE $1.74Bn Mexico Chile 21% Chile Peru 40%/ NET INCOME²,4 $528MM AVG EARNING ASSETS 34% Mexico $143Bn 38% 18% 19% Chile Peru Peru 1 Figures on a constant dollar basis, while metrics and change in bps are on a reported basis 2 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com 3 Pre-Tax, Pre-Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 43 4 Attributable to equity holders of the Bank 5 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 6 Prior period has been restated to include as a deduction non-interest bearing deposits with banks, to align with the Bank's definition 7 For the 3 months ended October 31, 2022 8 May not add due to rounding 39#40International Banking: CCA FINANCIAL PERFORMANCE AND METRICS ($MM) Reported Q4/22 Q3/22 Q4/21 Q/Q¹ Y/Y1 (Constant FX) 1,2 Revenue ($MM) $546 $550 $495 (1%) 10% Expenses ($MM) $336 $332 $317 1% 6% PTPP³ ($MM) $210 $218 $178 (4%) 18% Net Income ($MM) $109 $110 $77 (1%) 42% Net Interest Margin 5,6 5.63% 5.25% 4.79% 38 bps 84 bps Productivity Ratio5 61.5% 60.5% 64.7% 100 bps (320 bps) 19% Central America GEOGRAPHIC DISTRIBUTION 7,8 4% 64% English Caribbean Central America 80% 32% English Caribbean Central America 54% AVG EARNING ASSETS English Caribbean 17% Dominican Republic REVENUE $546MM 16% Dominican Republic 1 Figures on a constant dollar basis, while metrics and change in bps are on a reported basis NET INCOME²,4 $109MM 2 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com 3 Pre-Tax, Pre-Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 43 4 Attributable to equity holders of the Bank 15% Dominican Republic $31.9Bn 5 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 6 Prior period has been restated to include as a deduction non-interest bearing deposits with banks, to align with the Bank's definition 7 For the 3 months ended October 31, 2022 8 May not add due to rounding 40 40#41days i of c in quarter) #) Trading Results 25 25 20 20 15 10 5 0 NO TRADING LOSS DAYS (Q4/22) ….... T T <0 5 6 7 8 9 10 15 20 20 25 >25 Q4/22 Daily Trading Revenues ($MM) Millions 40 30 20 10 10 0 -10 -20 -30 TRADING REVENUE1 AND ONE-DAY TOTAL VAR (Q4/22) 1-Aug-22 8-Aug-22 15-Aug-22 22-Aug-22 29-Aug-22 Average 1-Day Total VaR 5-Sep-22 12-Sep-22 19-Sep-22 26-Sep-22 3-Oct-22 1-day total VaR 1 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com Q4/22: $14.2 MM Q3/22: $15.4 MM Q4/21: $9.8 MM 10-Oct-22 17-Oct-22 24-Oct-22 31-Oct-22 Actual Daily Revenue 41#42Impact of Foreign Currency Translation 1 Includes the impact of all currencies Average Exchange Rate Q4/22 Q/Q Y/Y US Dollar/Canadian Dollar Mexican Peso/Canadian Dollar Peruvian Sol/Canadian Dollar Colombian Peso/Canadian Dollar Chilean Peso/Canadian Dollar 0.752 (3.3%) (5.6%) 15.072 (3.9%) (6.2%) 2.942 (0.5%) (9.2%) 3,381 5.7% 11.1% 696.481 0.9% 10.2% Average Exchange Rate FY22 Y/Y US Dollar/Canadian Dollar Mexican Peso/Canadian Dollar Peruvian Sol/Canadian Dollar Colombian Peso/Canadian Dollar Chilean Peso/Canadian Dollar 0.777 (2.3%) 15.799 (1.5%) 3.002 (1.0%) 3,187 8.8% 669.905 12.9% Impact on Net Income¹ ($MM except EPS) Q/Q Y/Y FY/FY Net Interest Income 36 45 (158) Non-Interest Income² (46) (38) (109) Total Revenue (10) 7 (267) Non-Interest Expenses (29) (35) 92 Other Items (Net of Tax) Net Income 10 10 72 (29) (18) (103) Earnings Per Share (diluted) (0.02) (0.02) (0.09) Impact by business line ($MM) Canadian Banking International Banking2 Global Wealth Management (7) 2 243 3 (97) Global Banking and Markets 14 22 27 Other² (38) (49) (36) Net Income (29) (18) (103) 42 42 Includes the impact of foreign currency hedges#43Reconciliation for non-GAAP Financial Measures (1/5) ($ millions) Average total assets¹ Less: Non-earning assets Average total earning assets¹ All-Bank Q3/22 Q4/22 Q4/21 Q1/22 Q2/22 1,172,707 1,238,616 1,264,193 1,295,165 1,332,897 93,136 94,165 102,901 111,324 126,213 1,079,571 1,144,451 1,161,292 1,183,841 1,206,684 Less: Trading Assets 143,946 162,885 144,501 128,890 117,807 Securities purchased under resale agreements and securities borrowed 119,195 Other deductions Average core earning assets¹ 55,380 761,050 131,102 127,255 146,002 157,438 58,030 59,618 62,710 69,343 792,434 829,918 846,239 862,096 Net Interest Income 4,217 4,344 4,473 4,676 4,622 Less: Non-core net interest income 50 23 (33) (53) (122) Provision for credit losses 168 222 219 412 529 Risk Adjusted Net interest income on core earning assets 3,999 4,099 4,287 4,317 4,215 Risk Adjusted Margin 2.08% 2.05% 2.12% 2.02% 1.94% 1 Average balances represents the average of daily balance for the period 43#44Reconciliation for non-GAAP Financial Measures (2/5) Canadian Banking ($ millions) Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Average total assets¹ 398,141 411,748 423,218 437,269 445,670 Less: Non-earning assets 4,100 Average total earning assets¹ 394,041 Less: Other deductions Average core earning assets¹ 18,780 375,261 4,129 4,035 4,089 407,619 419,183 433,180 441,558 20,580 4,112 Net Interest Income 2,082 2,133 2,144 22,478 24,646 26,191 387,039 396,705 408,534 415,367 2,363 2,361 Less: Non-core net interest income Provision for credit losses (96) (35) (12) 93 163 Risk Adjusted Net interest income on core earning assets 2,178 2,168 2,156 2,268 2,200 Risk Adjusted Margin 2.30% 2.22% 2.23% 2.20% 2.10% 1 Average balances represents the average of daily balance for the period 44#45Reconciliation for non-GAAP Financial Measures (3/5) ($ millions) Average total assets¹ International Banking Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 192,219 196,100 203,875 209,076 217,061 Less: Non-earning assets Average total earning assets¹ 15,563 16,039 176,656 17,371 19,358 180,061 186,504 190,628 197,703 18,448 Less: Trading assets 5,453 5,287 4,376 4,860 5,369 Securities purchased under resale agreements and securities borrowed 200 145 2,245 2,433 Other deductions² 6,118 6,718 6,713 6,616 7,087 Average core earning assets¹ 165,085 167,856 175,270 176,907 182,814 Net Interest Income 1,589 1,648 1,687 1,759 1,806 Less: Non-core net interest income 15 12 (4) (1) (73) Provision for credit losses 314 274 276 325 355 Risk Adjusted Net interest income on core earning assets 1,260 1,362 1,415 1,435 1,524 Risk Adjusted Margin 3.03% 3.22% 3.31% 3.22% 3.31% 45 Average balances represents the average of daily balance for the period 2 Prior period has been restated to include as a deduction non-interest bearing deposits with banks, to align with the Bank's definition. The net interest margin has also been restated to reflect these changes#46Reconciliation for non-GAAP Financial Measures (4/5) ($ millions) Reported Basis Adjusted Basis¹ Pre-tax, pre-provision profit Q4/21 Q3/22 Q4/22 FY21 FY22 Q4/21 Q3/22 Q4/22 FY21 FY22 All-Bank Revenue 7,687 7,799 7,626 31,252 31,416 7,687 Expenses 4,271 4,191 4,529 16,618 17,102 4,058 4,167 7,799 7,987 4,287 31,252 31,777 16,327 16,787 Pre-tax, pre-provision profit 3,416 3,608 3,097 14,634 14,314 3,629 3,632 3,700 14,925 14,990 Canadian Banking Revenue 2,831 Expenses 1,251 1,385 3,119 3,134 1,397 10,898 12,030 Pre-tax, pre-provision profit 1,580 1,734 1,737 4,951 5,947 5,388 1,245 2,831 3,119 1,380 3,134 10,898 12,030 1,391 4,929 5,366 6,642 1,586 1,739 1,743 5,969 6,664 International Banking (constant FX) Revenue 2,322 Expenses 1,278 2,426 2,504 1,311 1,364 9,352 9,727 2,322 2,426 2,504 9,352 9,727 Pre-tax, pre-provision profit 1,044 1,115 1,140 5,149 4,203 5,212 1,268 1,302 1,355 5,107 5,173 4,515 1,054 1,124 1,149 4,245 4,554 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com 46#47Reconciliation for non-GAAP Financial Measures (5/5) ($ millions) Reported Basis Adjusted Basis¹ Pre-tax, pre-provision profit Q4/21 Q3/22 Q4/22 FY21 FY22 Q4/21 Q3/22 Q4/22 FY21 FY22 Global Wealth Management Revenue 1,347 1,312 1,289 5,380 5,381 1,347 1,312 1,289 5,380 5,381 Expenses 824 796 798 3,255 3,259 815 787 789 3,219 3,223 Pre-tax, pre-provision profit 523 516 491 2,125 2,122 532 525 500 2,161 2,158 Global Banking and Markets Revenue 1,177 1,152 1,354 5,023 5,172 Expenses 591 655 696 2,458 2,674 Pre-tax, pre-provision profit 586 497 685 2,565 2,498 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com 47#48Investor 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] 40 48