#1Investor Presentation March 2022 Scotiabank®#2Caution Regarding Forward-Looking Statements Forward-looking statements From time to time, our public communications often include oral or written forward-looking statements. Statements of this type are included in this document, and may be included in other filings with Canadian securities regulators or the U.S. Securities and Exchange Commission, or in other communications. In addition, representatives of the Bank may include forward-looking statements orally to analysts, investors, the media and others. All such statements are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. Forward-looking statements may include, but are not limited to, statements made in this document, the Management's Discussion and Analysis in the Bank's 2021 Annual Report under the headings "Outlook" and in other statements regarding the Bank's objectives, strategies to achieve those objectives, the regulatory environment in which the Bank operates, anticipated financial results, and the outlook for the Bank's businesses and for the Canadian, U.S. and global economies. Such statements are typically identified by words or phrases such as "believe," "expect," "foresee," "forecast," "anticipate," "intend," "estimate," "plan," "goal," "project," and similar expressions of future or conditional verbs, such as "will," "may," "should," "would" and "could." " By their very nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, which give rise to the possibility that our predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that our assumptions may not be correct and that our financial performance objectives, vision and strategic goals will not be achieved. We caution readers not to place undue reliance on these statements as a number of risk factors, many of which are beyond our control and effects of which can be difficult to predict, could cause our actual results to differ materially from the expectations, targets, estimates or intentions expressed in such forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: general economic and market conditions in the countries in which we operate; changes in currency and interest rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the failure of third parties to comply with their obligations to the Bank and its affiliates; changes in monetary, fiscal, or economic policy and tax legislation and interpretation; changes in laws and regulations or in supervisory expectations or requirements, including capital, interest rate and liquidity requirements and guidance, and the effect of such changes on funding costs; changes to our credit ratings; operational and infrastructure risks; reputational risks; the accuracy and completeness of information the Bank receives on customers and counterparties; the timely development and introduction of new products and services, and the extent to which products or services previously sold by the Bank require the Bank to incur liabilities or absorb losses not contemplated at their origination; our ability to execute our strategic plans, including the successful completion of acquisitions and dispositions, including obtaining regulatory approvals; critical accounting estimates and the effect of changes to accounting standards, rules and interpretations on these estimates; global capital markets activity; the Bank's ability to attract, develop and retain key executives; the evolution of various types of fraud or other criminal behaviour to which the Bank is exposed; disruptions in or attacks (including cyber-attacks) on the Bank's information technology, internet, network access, or other voice or data communications systems or services; increased competition in the geographic and in business areas in which we operate, including through internet and mobile banking and non-traditional competitors; exposure related to significant litigation and regulatory matters; climate change and other environmental and social risks, including sustainability that may arise, including from the Bank's business activities; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; the emergence of widespread health emergencies or pandemics, including the magnitude and duration of the COVID-19 pandemic and its impact on the global economy, financial market conditions and the Bank's business, results of operations, financial condition and prospects; and the Bank's anticipation of and success in managing the risks implied by the foregoing. A substantial amount of the Bank's business involves making loans or otherwise committing resources to specific companies, industries or countries. Unforeseen events affecting such borrowers, industries or countries could have a material adverse effect on the Bank's financial results, businesses, financial condition or liquidity. These and other factors may cause the Bank's actual performance to differ materially from that contemplated by forward-looking statements. The Bank cautions that the preceding list is not exhaustive of all possible risk factors and other factors could also adversely affect the Bank's results, for more information, please see the "Risk Management" section of the Bank's 2021 Annual Report, as may be updated by quarterly reports. Material economic assumptions underlying the forward-looking statements contained in this document are set out in the 2021 Annual Report under the headings "Outlook", as updated by quarterly reports. The "Outlook" sections are based on the Bank's views and the actual outcome is uncertain. Readers should consider the above-noted factors when reviewing these sections. When relying on forward-looking statements to make decisions with respect to the Bank and its securities, investors and others should carefully consider the preceding factors, other uncertainties and potential events. Any forward-looking statements contained in this document represent the views of management only as of the date hereof and are presented for the purpose of assisting the Bank's shareholders and analysts in understanding the Bank's financial position, objectives and priorities, and anticipated financial performance as at and for the periods ended on the dates presented, and may not be appropriate for other purposes. Except as required by law, the Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by or on its behalf. Additional information relating to the Bank, including the Bank's Annual Information Form, can be located on the SEDAR website at www.sedar.com and on the EDGAR section of the SEC's website at www.sec.gov. 2#3Pending#4Pending#5Leading Bank in the Americas¹ Core markets: Canada, US, Mexico, Peru, Chile and Colombia 7th largest bank by assets¹ in the Americas Full-Service, Universal Bank Canada Mexico Peru Chile Colombia Caribbean Uruguay Wholesale Operations USA UK Singapore Scotiabank (Reported) Revenue Change Q1/22 Y/Y $8,049MM Net Income $2,740MM +14% Return on Equity 15.8% +160 bps Operating Leverage² -0.6% n.a. Productivity Ratio² 52.5% +40 bps Total Assets $1.2T +7% 12.0% (20 bps) CET1 Ratio³ Ranking by Market Share4 USMCA Canada USA5 #3 Top 10 FBO Mexico #5 Pacific Alliance Peru #3 Countries Chile #3 Colombia #6 36 Australia Ireland Hong Kong SAR China Brazil India Japan (PAC) Earnings by Market6,7 1 Ranking by asset as at February 23, 2022, Bloomberg; 2 Refer to page 48 of the Management's Discussion & Analysis in the Bank's First Quarter 2022 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 3 This measure has been disclosed in this document in accordance with OSFI Guideline - Capital Adequacy Requirements (November 2018); 4Ranking based on market share in loans as of December 2021 in Mexico, Peru and Chile, November 2021 in Colombia, as of October 2021 in Canada for publicly traded banks; 5 Ranking by asset as of September 2021; 6Net income attributable to equity holders of the Bank for the 3 months ended January 31, 2022; 7 May not add due to rounding C&CA -Other- PAC 3% 6% U.S.A 20% 65% Canada 6% 5#6Well-Diversified Business with Strong Returns Earnings by Business Line 1,2 Wealth Management 15% Earnings by Market¹,2 Colombia Asia 1% 1% Caribbean and Central America (C&CA) 3% Wholesale Banking 21% Global Wealth Management 15% Peru Brazil and Other 5% 5% Personal & Canadian Commercial Chile 7% Global Banking and Markets Q1/22 EARNINGS MIX Banking Banking 44% 64% $2.7Bn4 Mexico 7% 21% U.S. Q1/22 EARNINGS MIX $2.7Bn4 6% International Banking 20% Reported Return 27.4% on Equity¹ by 17.2% 17.4% 15.8% Business Line 21.2% 12.2% 14.3% 14.9% 12.7% 9.5% 3-year average ROE Global Wealth Management 1 Net income attributable to equity holders for the 3 months ended January 31, 2022; 2 May not add due to rounding; 4 Excludes Other segment Canadian Banking International Banking Global Banking and Markets All Bank Canada 65% 6#7Pending#8Pending#9Focused on Higher Return Markets 35% 30% 25% Scotiabank P&C Banking Focused On Higher ROE Markets 20% 33.2% 2 15.7% 15% 10% 5% 0% Canada1 12.9%4 3 5 14.6% 13.1% Pacific Alliance Average FY21 ROE of Canadian banks in each market 1 Average FY21 ROE of RY, TD, BMO, CM, and Q1/22 ROE of BNS 2 Average FY21 ROE of Banorte, Banbajio, Santander Mexico, Credicorp, Bancolombia, Santander Chile and Banco de Chile 3 Q1/22 ROE of BNS' PAC segment 4 Average FY21 ROE of JP Morgan, BofA, Citi, Wells Fargo, Truist, US Bancorp, PNC, Fifth Third, M&T and Comerica 5 Average FY21 ROE of TD, BMO and CM's US Banking segment Sources: Bloomberg LLP, Company Financial Reports Average FY21 ROE of largest banks in each market US 9#10Q1 2022 Financial Performance $MM, except EPS Q1/22 Y/Y Q/Q Reported Net Income $2,740 14% 7% Pre-Tax, Pre-Provision Profit¹ $3,826 (1%) 12% • Diluted EPS $2.14 15% 9% Revenue $8,049 5% · Expenses $4,223 (1%) Productivity Ratio² 52.5% 40 bps (310 bps) Net Interest Margin³ 2.16% (11 bps) (1 bp) PCL Ratio² 13 bps (36 bps) 3 bps PCL Ratio on Impaired Loans² 24 bps (25 bps) (7 bps) Adjusted³ Net Income $2,758 14% 2% Pre-Tax, Pre-Provision Profit $3,851 (1%) 6% Diluted EPS $2.15 14% 2% Expenses $4,198 3% Productivity Ratio 52.2% 40 bps (60 bps) REPORTED NET INCOME YEAR-OVER-YEAR ($MM) . HIGHLIGHTS EPS up a strong 14% Y/Y Reported pre-tax, pre-provision profit up 12% Q/Q (adjusted up 6%) Revenue flat Y/Y (up 5% Q/Q) o FX translation reduced revenue growth by 3% o Net interest income flat Y/Y. FX translation reduced growth by 3% o Non-interest income flat Y/Y. FX translation reduced growth by 2% Net interest margin down 11 bps Y/Y (down 1 bp Q/Q) Expenses flat Y/Y o FX translation reduced expense growth by 2% Strong reported ROE of 15.8% (adjusted ROE³ of 15.9%) REPORTED NET INCOME4 BY BUSINESS SEGMENT ($MM) +32% Q1/21 Q1/22 542 (15) (162) (7) (16) +51%5 -1% +3% 2,740 2,398 1,201 911 418 412 543 561 389 545 Q1/21 Net interest Non-interest Income income PCLs Non-interest Taxes expenses Q1/22 Canadian Banking Global Wealth Management Global Banking and Markets International 1 Pre-Tax, Pre-Provision Profit defined as revenues less expenses Banking 2 Refer to page 48 of the Management's Discussion & Analysis in the Bank's First Quarter 2022 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 3 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's First Quarter 2022 Report to Shareholders, available on http://www.sedar.com 4 Attributable to equity holders of the Bank 6Y/Y growth rate is on a constant dollar basis 10#11Pending#12Pending#13Scotiabank in the Pacific Alliance Q1/22 Scotiabank Market Share¹ Chile Mexico Peru Colombia Market Share Ranking¹ 14.3% 3rd 7.7% 5th 16.3% 3rd 5.4% 6th Pacific Alliance Total/Average 10.9% n.a. Strengths All Products Auto and Mortgages All Products Credit Cards, Personal All Products Average Total Loans 2,8 (C$B) $46.1 $32.7 $19.8 $11.4 $110.0 Revenue 3,8 (C$B) $0.5 $0.5 $0.4 $0.3 $1.7 Net Income after NCI³,8 (C$MM) $177 $162 $110 $14 $463 ROE 3,9 13.1% 20.2% 16.4% 4.1% 14.6% # of Employees 4,5 7,654 9,528 8,743 5,795 31,720 Total Deposit Growth 6,7,8 Total Loan Growth 6,7,8 Productivity Ratio⁹ Total PTPP Growth 6,7,10 9% -1% 3% Y/Y 78 9 24 8ང F༅ ླ 70% Y/Y Y/Y 66% 110 108 110 58% 1009 75 75 11 12 11 51% 50% 121 911 847 10 9 49% 88 45% 42% 41% 73 22 21 22 301 47 45 46 42% 37% 317 309 35% 17 15 15 21 19 20 20 304 196 229 29 29 29 29 30 31 32 33 283 269 277 Q1/21 Q4/21 Q1/22 Q1/21 Q4/21 Q1/22 Q1/21 Q4/21 Q1/22 Q1/21 Q4/21 Q1/22 Mexico Peru Chile Colombia 1 Ranking based on publicly traded banks by total loans market share, as of December, 2021; except Colombia as of November 2021; 2 For the three months ended January 31, 2022; 3 For the three months ended January 31, 2022, not adjusted for currency; 4 Employees are reported on a full-time equivalent basis; 5 As of January 31, 2022; 6 Y/Y and Q/Q growth rates (%) are on a constant dollar basis; 7 May not add due to rounding; 8 Figures excluding Wealth Management; Refer to page 48 of the Management's Discussion & Analysis in the Bank's First Quarter 2022 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 10 Pre-Tax, Pre-Provision Profit defined as revenues less expenses 13#14Pending#15Pending#16Pending#17Pending#18Fintech Strategy • • Embracing Fintech Scotiabank has embraced fintech and technology start- ups, acting as an advisor, partner, investor and customer The key objectives of Scotiabank's fintech strategy are: o Identify innovative companies, trends and business models early o Test, learn and implement fintech innovations o Drive an innovation culture at the Bank • Partnership Approach Scotiabank partners with VCs to amplify our relevance and reach in the global ecosystem, enabling earlier and faster access to innovative companies Canada High-growth enterprise software firms in analytics, machine learning and enterprise software Israel High growth tech companies in fintech and cybersecurity Latam Early-stage start-ups in digital banking and fintech Sample Focus Areas • Credit adjudication • • Machine-learning modelling IT Modernization • Accessibility Natural language processing Personal financial management Customer experience and self-service Sample Partnerships • Fraud Anti-Money Laundering A platform that provides insights and actionable money management A platform that enables data scientists to develop and test models faster - Auto machine learning A platform that specializes in behavioural biometrics for AML & Fraud purposes 18#19Pending#20Pending#21Pending#22Pending#23Pending#24Residential Mortgages ⚫ Four Distinct Distribution Channels¹: Broker, Branch, Mobile Salesforce and eHOME. Broker and Mobile Salesforce accounts for more than 80% of the distribution FICO® Distribution - Canadian Uninsured Portfolio² New Canadian Mortgage Originations 64% Q1-21 Q4-21 Q1-22 Average FICO® Score Canada 792 GTA 795 GVA 792 Canada Total Originations ($Bn) Uninsured LTV3 16.1 21.5 19.9 64% 64% 64% Greater Toronto Area 16% 10% 8% 2% < 635 636 - 706 707-747 748-788 > 788 Total Originations ($Bn) Uninsured LTV3 Greater Vancouver Area Total Originations ($Bn) Uninsured LTV3 5.2 6.2 6.0 63% 64% 63% 1.9 2.6 2.5 62% 63% 64% Canadian Mortgage Portfolio4: $289Bn (Spot balances as at Q1/22, $Bn) 29% Insured Freehold $245Bn Condos $44Bn - 157.2 20.7 (85%) (15%) 56.9 136.5 32.9 15.5 3.8 41.4 29.1 Ontario BC & Territories Alberta 19.4 16.8 Quebec 11.6 10.5 2.6 0.3 0.7 Total Portfolio4: $289 Bn 11.3 9.8 Atlantic Provinces Manitoba & Saskatchewan % of portfolio 54.5% 19.7% 11.5% 6.7% 4.0% 3.6% 1 Sum of the parts might not add to 100% due to rounding 2 FICO® distribution for Canadian uninsured portfolio based on score ranges at origination. FICO is a registered trademark of Fair Isaac Corporation 3 LTV calculated based on the total outstanding balance secured by the property. Property values indexed using Teranet HPI data 4 Includes Wealth Management 71% Uninsured 24#25Pending#26Business Line Overview International Banking 26#27Pending#28PAC Fundamentals Driving Growth Strong Governance Democratic countries with open economies Independent central banks with inflation- targeting regimes Free trade agreements and free-floating currencies ⚫ Business-friendly environments Sound Macro Environment Diversified economies with solid GDP growth • Resilience to economic and political cycles Relatively low debt/GDP ratios compared with OECD and emerging-market economies • Increasing adoption of banking services Favourable Demographics ⚫ 232 million people with median age of 30 years • Rebounding domestic consumption • Increasing exposure to Asian growth markets Among the fastest growing smartphone markets in the world Considerable growth in middle class 28#29Pending#30Scotiabank in Peru Business Overview1 Residential Mortgages Market Position by Loans5 Customers² ~3.6MM Corporate/ Commercial 14% Employees² ~9,200 33.6% Branches² 257 Personal Loans 21.0% Average Loans $20Bn Loans $20.1Bn 21% 16.3% 12.2% 59% Average Deposits $16Bn 2%3% Credit Cards Total NIAT (after NCI)³ Other $402MM ROE3,4 Productivity 3,4 13.8% 39.3% Retail 42% 58% BCP BCP BBVA BBVA ㅁ Scotiabank Interbank Loans Secured Unsecured Productivity Ratio4 Operating Leverage4 1,290 1,099 PTPP1,6 -1% CAGR 1,265 1,059 37.7% 35.8% 35.8% 38.5% 5.1% 6.0% -0.1% -5.6% 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 2018 All figures including Wealth Management 1 On a constant dollar basis 2 Including subsidiaries 3 LTM Q1/22 4 Refer to page 48 of the Management's Discussion & Analysis in the Bank's First Quarter 2022 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 5 Market share as of December 2021. Scotiabank includes SBP, CSF and Caja CAT 6 Pre-Tax, Pre-Provision Profit defined as revenues less expenses 30#31Pending#32Scotiabank in Colombia Business Overview1 Customers² ~2.8MM Employees² Corporate/ ~6,000 Commercial Residential Mortgages 26.7% 18% Branches² 132 Average Loans $11Bn 50% Loans $11.5Bn 18% Personal Loans Average Deposits $10Bn Total NIAT $63MM 14% Credit Cards (after NCI)³ ROE3,4 4.7% Retail 37% 63% Loans Productivity3,4 Secured 65.4% Unsecured 587 470 PTPP1,7 -6% CAGR Market Position by Loans 5,6 16.5% 11.8% 10.4% 6.1% 5.4% 4.1% ⚫ BBVA 1 Bancolombia Davivienda Bogotá BBVA Occidente Scotiabank Colpatria Popular Productivity Ratio4 418 393 56.7% 54.6% 2019 2020 2021 2018 All figures including Wealth Management 1 On a constant dollar basis 2Including subsidiaries 3LTM Q1/22 Operating Leverage4 64.5% 63.5% -3.1% -4.7% -10.6% 1.3% 2018 2019 2020 2021 2018 2019 2020 2021 4 Refer to page 48 of the Management's Discussion & Analysis in the Bank's First Quarter 2022 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 5 Market share as of November 2021 6 Members of AVAL Group: Banco de Bogotá, Banco de Occidente, Banco Popular and Banco AV Villas 7 Pre-Tax, Pre-Provision Profit defined as revenues less expenses 32 32#33Other Regions Leading Caribbean & Central American franchise Caribbean & Central America Asia • • Leading bank serving retail, commercial and corporate customers Major markets include the Dominican Republic, Jamaica, Trinidad & Tobago, Costa Rica, Panama and The Bahamas Sharpened geographic footprint by exiting higher risk, low growth jurisdictions including Haiti, El Salvador, Puerto Rico, US Virgin Islands, British Virgin Islands, Belize and 8 of the Leeward Islands Dominican Republic: #4 bank Acquired Banco Dominicano del Progreso in 2019 China: ~18% interest in Bank of Xi'an • CAD $1,034MM carrying value as of January 31, 2022 • Bank of Xi'an reported $541MM of net income for the eleven months ended September 30, 2021, of which Scotiabank's share is 18% 33#34Business Global Wealth Line Overview Management 34 =4#35Global Wealth Management 3rd Largest Wealth Management Business in Canada' Global Wealth Management is focused on delivering comprehensive wealth management advice and solutions to clients across Scotiabank's footprint. Global Wealth Management serves over 2 million investment fund and advisory clients across 13 countries - administering over $600 billion in assets. Business Overview Financial Results 11% Q1/22 Revenue 9% Q1/22 AUM² Mix $345Bn $1.4Bn 89% 91% 18% Q1/22 AUA² $MM, except AUM/AUA Q1/22 Y/Y Reported Q/Q $601Bn Net Income³ $412 (1%) 7% 82% International Reported Net income³ ($MM) and ROE² (%) Canada Pre-Tax, Pre Provision Profit4 Revenue Expenses $862 $560 (2%) 7% $1,422 2% 6% 6% 5% 3 PCLS ($1) nmf nmf Productivity Ratio² 60.6% 180 bps (50 bps) 17.6% 16.4% 16.5% 16.3% 17.2% AUM ($B)² $345 11% 418 412 62 -7 AUA ($B)² $601 11% 1% Adjusted5 356 372 390 385 405 Net Income³ $419 (1%) 7% Pre-Tax, Pre Provision Profit $569 (2%) 7% Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Ex. Performance Fees Performance Fees Expenses Productivity Ratio $853 6% 5% 60.0% 190 bps (50 bps) Medium-Term Financial Objectives Net Income Growth 3,5 Target6 8%+ Productivity Ratio5 Operating Leverage5 <65% Positive 1 Based on Total Net Income for publicly traded banks in Canada for the fiscal year ended October 31, 2021; 2 Refer to page 48 of the Management's Discussion & Analysis in the Bank's First Quarter 2022 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 3Attributable to equity holders of the bank; 4 Pre- Tax, Pre-Provision Profit defined as revenues less expenses; 5 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's First Quarter 2022 Report to Shareholders, available on http://www.sedar.com; 63-5 year target from 2020 Investor Day 35#36Global Wealth Management #1 in Revenue growth¹ | #2 in PTPP & AUM growth1 | #2 in Retail Mutual Fund assets in Canada¹ 3rd Largest Wealth Management Business in Canada 1,2 Investment Management A broad selection of actively managed investment solutions from our innovative manufacturing platform. Mutual Funds ETFs Pooled Funds Segregated Portfolios Institutional Asset Management Distribution Channels A powerful advisory and distribution network across Canada and Latin America. Private Investment Counsel Full-Service Brokerage Private Banking Trust Services Online Brokerage Retail Bank Branch Network Mobile Advice Team 3rd Party Distributors Scotia Funds. Dynamic Funds JARISLOWSKY FRASER Scotia MD Wealth Management. MD Financial Management Figures for the 12 months ended October 31, 2021 2 Ranking based on Net Income Scotia iTRADE, Scotiabank. Branch mobile advice team 36#37Pending#38Pending#39Pending#40Pending#41Risk Overview 41#42Pending#43Credit Quality GILS ($MM) AND GIL RATIO¹ 78 bps 81 bps 81 bps 84 bps 81 bps 73 bps 67 bps 64 bps 5,120 31 5,148 26 5,053 26 5,279 39 5,116 33 -224 285 -209| -302 -286 4,735 28 -235 1,067 1,222 1,209 1,049 1,040 921 941 4,456 26 4,435 32 - 219 -231 904 HIGHLIGHTS GIL ratio improved 3 bps Q/Q and remains below pre- pandemic levels due to: О Lower impairments across portfolios Retail write-offs in International Banking Positive FX impact 3,582 3,704 3,676 3,949 о 3,757 3,551 3,270 3,268 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 NET WRITE-OFFS ($MM) AND NET WRITE-OFFS RATIO¹ HIGHLIGHTS Net write-offs declined 32% Y/Y and 18% Q/Q 76 bps 62 bps 47 bps 47 bps 41 bps 43 bps 1,141 34 bps • 27 bps Significant reduction in International Banking 13 219 983 1 8 173 • Net write-offs ratio declined 7 bps Q/Q and remains below pre-pandemic levels 732 750 -13 33 674 632 -25 265 266 -26 201 227 560 1 123 1 457 910 4 801 139 454 450 379 448 435 311 (1) Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 International Banking Canadian Banking Global Banking and Markets Global Wealth Management 1 Refer to page 48 of the Management's Discussion & Analysis in the Bank's First Quarter 2022 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 43#44Pending#45Canadian Retail: Loans and Provisions' MORTGAGES 4 1 2 4 2 1 1 1 1100 AUTO LOANS 216 224 106 91 99 39 99 105 89 81 78 0 35 (6) Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 LINES OF CREDIT³ 169 164 79 62 70 33 44 87 74 65 60 57 32 (8) 37 (4) Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 CREDIT CARDS 1,002 896 410 400 322 288 244 41 36 234 445 401 312 321 310 (6) 204 (84) Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 PCL as a % of avg. net loans (bps)² Loan Balances Q1/22 Spot ($B) % Secured Mortgages $289 100% (55) Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 PCLs on Impaired Loans as a % of avg. net loans (bps)² Auto Loans Lines of Credit³ Credit Cards Total $39 100% $33 64% $6 $3684 2% 95%5 1 Includes Wealth Management. PCL excludes impact of additional pessimistic scenario 2 Refer to page 48 of the Management's Discussion & Analysis in the Bank's First Quarter 2022 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 3 Includes Home Equity Lines of Credit and Unsecured Lines of Credit 4 Includes Tangerine balances of $10 billion and other smaller portfolios 5 84% secured by real estate; 11% secured by automotive 45#46Pending#47Pending#48Pending#49Pending#50Wholesale Funding Wholesale funding diversity by instrument and maturity1,6,7 22% 16% Senior Notes Bail-inable Notes -1% Asset-Backed Securities -14% Covered Bonds Asset-Backed Commercial Paper³ 2% 32% Bearer Deposit Notes, Commercial Paper & Short-Term Certificate $265Bn 1%- Deposits from Banks² of Deposits 9% Mortgage Securitization4 TERM FUNDING MATURITY TABLE (EXCLUDING SUB DEBT AND MORTGAGE SECURITIZATION) (CANADIAN DOLLAR EQUIVALENT, $B) $30 $31 8 $21 3 $18 1 $14 18 24 21 8 16 $23 6 13 7 24 24 -3% Subordinated Debt5 7 < 1 Year 2 Years 3 Years 4 Years 5 Years 5 Years > Senior Debt ABS Covered Bonds 1 Excludes repo transactions and bankers' acceptances, which are disclosed in the contractual maturities table in the MD&A of the Interim Consolidated Financial Statements. Amounts are based on remaining term to maturity. 2 Only includes commercial bank deposits raised by Group Treasury. 3 Excludes asset-backed commercial paper (ABCP) issued by certain ABCP conduits that are not consolidated for financial reporting purposes. 4 Represents residential mortgages funded through Canadian Federal Government agency sponsored programs. Funding accessed through such programs does not impact the funding capacity of the Bank in its own name. 5 Although subordinated debentures are a component of regulatory capital, they are included in this table in accordance with EDTF recommended disclosures. 6 As per Wholesale Funding Sources Table in MD&A, Q1/22 Report to Shareholders. 7 May not add due to rounding. 50 50#51Pending#5238.4% Wholesale Funding Utilization Maintaining appropriate reliance on wholesale funding WHOLESALE FUNDING / TOTAL ASSETS 23.9% 23.5% 21.3% WHOLESALE FUNDING UTILIZATION WELL MANAGED • Wholesale funding usage returning to pre- pandemic levels driven by asset growth, partially offset by deposit retention Q1/19 Q2/19 Q3/19 16.9% Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 MONEY MARKET WHOLESALE FUNDING / TOTAL WHOLESALE FUNDING 44.7% Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 26.1% Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 32.8% Q1/22 SUITABLE CONCENTRATION OF MONEY MARKET FUNDING Prudent utilization of short-term funding 52 62#53Pending#54Pending#55Economic Outlook in Core Markets Real GDP Growth Forecast (2022-23) Real GDP (Annual % Change) Forecast 1, 2 Country 2010-19 Average 2020 2021E 2022 2023 Q1F Q2F Q3F Q4F Year Q1F Q2F Q3F Q4F Year Canada 2.3 (5.2) 4.6 2.0 4.6 4.3 3.9 3.7 4.6 3.5 2.8 2.3 3.3 U.S. 2.3 (3.4) 5.6 4.0 3.7 4.1 3.7 3.9 4.1 3.5 3.1 2.6 3.3 Mexico 2.7 (8.2) 5.0 2.1 106 1.6 1.6 1 2.3 1.9 1.5 10 1.6 1.7 21 2.1 1.7 Chile 3.3 (5.8) 12.0 8.8 6.7 0.1 (0.7) 3.5 2.5 2.2 2.2 1.0 2.0 Peru 4.5 (11.0) 13.3 2.7 2.5 2.1 3.3 2.6 2.8 3.0 2.8 2.5 2.8 Colombia 3.7 (7.0) 10.2 5.1 7.8 2.9 2.0 4.5 3.4 4.0 3.9 3.7 3.7 PAC Average³ 3.6 (8.0) 10.1 4.7 4.7 12 15 1.7 1.7 3.1 2.6 2.7 2.7 2.3 2.6 Source: Scotiabank Economics. 1 Forecasts for Canada and U.S. as of the January 19, 2022 Scotiabank Economics Global Forecast Tables. 2 Forecasts for PAC countries as of the February 18, 2022 Scotiabank Economics Latam Weekly. 3 Simple average. 55#56Pending#57Policy Rates in Core Markets Canada 10 10 % % forecast COVID-19 begins 09876543NTOT -1 18 Headline inflation 19 Policy rate 20 21 22 7 98 96543210 United States COVID-19 begins Policy rate Headline inflation 23 18 19 20 Sources: Scotiabank Economics (forecasts), Bank of Canada, Statistics Canada. Chile 10 % COVID-19 begins 098765432-0 Policy rate 1 Headline inflation 18 19 20 21 forecast 21 forecast 22 23 Sources: Scotiabank Economics (forecasts), Federal Reserve Board, BLS. 10 % 0989654 Policy rate Colombia COVID-19 begins 3 2 Headline inflation 1 0 22 23 Sources: Scotiabank Economics (forecasts), BCCH, INE. 09876543210 % Mexico COVID-19 begins forecast Policy rate Headline inflation 18 21 22 19 20 Sources: Scotiabank Economics (forecasts), Banxico, INEGI. 23 forecast 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 Headline inflation 19 20 22 23 21 18 Sources: Scotiabank Economics (forecasts), BCRP, INEI. 44 57#58Pending#59Pending#60Pending#61Mexican Economy Solid mix of sectors Services are increasingly contributing to the domestic economy's recovery. Trade with the U.S. is leading growth, but Mexico's diversification agenda is also underpinned by 13 free-trade agreements with 50 countries that account for 43% of global GDP and include all G7 countries. The authorities' fiscal and debt indicators remain reasonable; efforts to boost tax collection could continue to be implemented. GDP 2021E: 5.0% GDP 2022F: 1.9% GDP 2023F: 1.7% Sources: Scotiabank Economics, Bloomberg, as of February 18, 2022. 16.5% Finance, Insurance, & Real Estate 14.6% Other 3.5% Natural Resources 6.2% Transportation & Warehousing 6.1% Health & Education MEXICAN GDP BY INDUSTRY* (Q3-2021) 2.0% Professional, Scientific, & Technical Services 4.0% Public Administration 18.4% Wholesale & Retail Trade 16.2% Manufacturing 6.3% Mining and Oil & Gas Extraction 6.2% Construction * Q4-2021 real GDP growth 1.0 y/y. Industry GDP breakdown not yet available for Q4-2021. Top Trading Partners* Contributions to Mexican GDP Growth 24 y/y % change 20 16 12 8 4 0 -4 Other* -8 -12 Inventories Government Net Exports Investment Consumption -16 Real GDP -20 17 18 19 20 21 *Statistical discrepancy, subject to revision. Sources: Scotiabank Economics, Haver Analytics. * Q4-2021 real GDP growth 1.0 y/y. National accounts breakdown not yet available for Q4-2021. South Korea 3% Others 16% Canada 3% EU 8% China 12% * Trade data updated as of Q3-2021. United States 58% 61#62Chilean Economy Advanced economy with wide-ranging trade links • Chile's mix of economic activities reflects its status as an advanced OECD economy. Chile's diversified trading relationships are supported by 30 free-trade agreements with 70 countries that account for 88% of global GDP. Public support for households and businesses has powered a strong rebound in consumption. GDP 2021E: 12.0% GDP 2022F: 3.5% GDP 2023F: 2.0% Sources: Scotiabank Economics, Bloomberg, as of February 18, 2022. Contributions to Chilean GDP Growth 40 y/y % change 30 15.8% Finance, Insurance, & Real Estate 9.4% Other 2.0% Restaurants & Hotels 8.2% Transportation & Warehousing 3.2% Natural Resources CHILEAN GDP BY INDUSTRY (Q3-2021) 18.4% Housing & Personal Services 10.9% Wholesale & Retail Trade Top Trading Partners* 10.2% Manufacturing 11.6% Mining and Oil & Gas Extraction 5.8% Construction 4.6% Public Administration 20 10 20 0 -10 Net Exports Investment -20 Consumption 18 Inventories Government Real GDP 19 Sources: Scotiabank Economics, Haver Analytics. -30 17 20 21 24 Japan 4% Others 28% China 34% Brazil 7% United States EU 10% 17% * Trade data updated as of Q3-2021. 62 62#63Peruvian Economy Resilient economic fundamentals Peru's important resource sectors are increasingly balanced by stronger service-sector activity and solid economic fundamentals. Peru has 18 free-trade agreements with 52 countries that account for 66% of global GDP. Government spending, transfer programs, and pension withdrawals helped to bolster a rebound into 2022. 12.8% Manufacturing 10.5% Wholesale & Retail Trade Other PERUVIAN GDP BY INDUSTRY (Q3-2021) GDP 2021E: 13.3% GDP 2022F: 2.6% GDP 2023F: 2.8% Sources: Scotiabank Economics, Bloomberg, as of February 18, 2022. Contributions to Peruvian GDP Growth 50 y/y % change 40 30 20 10 0 -10 Net Exports Investment Inventories Government -20 Consumption Real GDP -30 -40 17 18 19 20 21 Sources: Scotiabank Economics, Haver Analytics. 31.2% 11.7% Mining, Oil, & Gas 6.3% Construction 1.9% Electricity & Water 8.0% Top Trading Partners* China 29% Others 36% Natural Resources India 4% United States 15% South Korea 5% EU 11% * Trade data updated as of Q3-2021. 63 63#64Pending#65Pending#6680 60 85 90 CA: Consumer and Business Activity 110 Index, 2019Q4 = 100 105 Jan 13, 2020 forecast 100 95 95 GDP Getting Back on Track Business Confidence - CFIB Business Barometer 80 index, 50 stronger 60 Jan. 19, 2022 forecast 50 50 19Q4 20Q1 20Q2 Key Economic Indicators index, Feb 2020 levels 100 Source: Scotiabank Economics, Statistics Canada. 2003 2004 21Q1 21Q2 21Q3 21Q4 22Q1 22Q2 22Q3 2204 23Q1 23Q2 23Q3 23Q4 180 160 140 120 100 80 60 40 20 ༄༄¥ཤྰཎྜ¥ & Feb-20 Mar-20- Apr-20 May-20 Jun-20 Jul-20- Aug-20- Sep-20 Oct-20- Nov-20 Nov-20 Dec-20- Jan-21- Feb-21- Feb-21- Mar-21. Apr-21 May-21. Auto Sales ⚫Mfg Shipments Exports Housing Starts Retail Sales Sources: Scotiabank Economics, Bloomberg. Jun-21- Jul-21 Aug-21- Sep-21. Oct-21. Nov-21 Dec-21 Jan-22 Employment Manufacturing PMI 80 85 90 30 40 70 70 20 T 11 12 13 14 Sources: Scotiabank Economics, CFIB. 105 Feb. 2020=100 100 95 Headline index 3-month moving average 6-month moving average 15 16 17 18 19 20 21 22 Labour Market Recovery Canada Has Recovered Lost Jobs Canada's Labour Force Participation Rate Feb-20- Apr-20- Jun-20- Aug-20- Oct-20- Dec-20- Feb-21 Apr-21 Jun-21- Aug-21- Oct-21- Dec-21- Sources: Scotiabank Economics, Statistics Canada. 59 60 61 Feb-20 66 % 65 64 63 62 Apr-20 Jun-20 Aug-20 Oct-20 Dec-20 Feb-21 Apr-21 Jun-21 Aug-21] Oct-21 66 99 Dec-21]#67Pending#68Pending#69Pending#70Pending#71Pending#72Pending#73Canadian Bail-in Regulations: Jurisdictional Comparison Best in class approach K Instrument type Opco senior Holdco senior Holdco senior¹ Holdco senior Opco non- preferred senior Ranking in Liquidation Pari passu with deposits and other senior liabilities Structural subordination² Structural subordination² Structural subordination² Contractual subordination² Senior Other debt Deposits senior subject liabilities to Subordination schematic bail-in Capital Deposits Opco senior/senior preferred / other senior liabilities Holdco senior / senior non-preferred Capital Depositor preference No Yes Yes Yes Yes Participation in equity post resolution Conversion to equity of the bank or an affiliate allows participation in the upside, if any³ N/A4 Uncertain given possibility of writedown Uncertain given possibility of writedown Uncertain given possibility of writedown Acceleration rights upon failure to pay Yes principal and interest 1Applicable in practice for G-SIBS' issuance of non-capital bail-in debt Yes Yes Yes No5 2 Approach applicable to G-SIBS in relevant jurisdictions. Additionally, Switzerland uses structural subordination, Germany uses statutory subordination, Spain uses contractual subordination 3 Assuming only bail-in is triggered. If other resolution powers are exercised, debt holders could be exposed to losses in a manner similar to a write-down of their claims 4 No bail-in power. In resolution, debtholders could potentially receive partial recoveries (analogous to a write-down) or have their claims satisfied through the issuance of new securities (analogous to a bail-in conversion) 5 The terms of senior non-preferred do not include acceleration rights upon failure to pay principal and interest; however, there is no statutory restriction in this regard. Once resolution proceedings are underway, holders may declare an event of default for failure to meet payment obligations 73#74Pending#75Pending#76Pending#77Pending#78Canadian Legislative Covered Bonds (CMHC Registered) . Canadian Registered Covered Bond Programs' Legal Framework (Canadian National Housing Act) Issuance Framework • Canadian Registered Covered Bond Programs Guide issued by Canada Mortgage and Housing Corporation (CMHC) Eligible Assets Mortgage LTV Limits • Uninsured loans secured by residential property in Canada • LTV limit of 80% • Basis for Valuation of Mortgage Collateral . Substitute Assets • Substitute Assets Limitation Cash Restriction . Issuers are required to index the value of the property underlying mortgage loans in the covered pool while performing various tests Securities issued by the Government of Canada Repos of Government of Canada securities having terms acceptable to CMHC 10% of the aggregate value of (a) the loans (b) any Substitute Assets and (c) all cash held by the Guarantor The cash assets of the Guarantor cannot exceed the Guarantor's payment obligations for the immediately succeeding six months • Coverage Test Asset coverage Test • Credit Enhancement • Swaps • Market Risk Reporting Covered Bond Supervisory Body Requirement to Register Issuer and Program Amortization Test Overcollateralization Reserve Fund Covered bond swap, forward starting Interest rate swap, forward starting Valuation calculation Mandatory property value indexation • CMHC • Yes; prior to first issuance of the covered bond program Registry • Yes Disclosure Requirements • Monthly investor report with prescribed disclosure requirements set out by CMHC Investor reports must be posted on the program website 78#79Pending#80Pending#81Pending#82Pending