#1Investor Presentation August 2020 Scotiabank®#2Caution Regarding Forward-Looking Statements From time to time, our public communications often include oral or written forward- looking statements. Statements of this type are included in this document, and may be included in other filings with Canadian securities regulators or the U.S. Securities and Exchange Commission, or in other communications. In addition, representatives of the Bank may include forward-looking statements orally to analysts, investors, the media and others. All such statements are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. Forward-looking statements may include, but are not limited to, statements made in this document, the Management's Discussion and Analysis in the Bank's 2019 Annual Report under the headings "Outlook" and in other statements regarding the Bank's objectives, strategies to achieve those objectives, the regulatory environment in which the Bank operates, anticipated financial results, and the outlook for the Bank's businesses and for the Canadian, U.S. and global economies. Such statements are typically identified by words or phrases such as "believe," "expect," "foresee," "forecast," "anticipate," "intend," "estimate," "plan," "goal," "project," and similar expressions of future or conditional verbs, such as "will," "may," "should," "would" and "could." By their very nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, which give rise to the possibility that our predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that our assumptions may not be correct and that our financial performance objectives, vision and strategic goals will not be achieved. We caution readers not to place undue reliance on these statements as a number of risk factors, many of which are beyond our control and effects of which can be difficult to predict, could cause our actual results to differ materially from the expectations, targets, estimates or intentions expressed in such forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: general economic and market conditions in the countries in which we operate; changes in currency and interest rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the failure of third parties to comply with their obligations to the Bank and its affiliates; changes in monetary, fiscal, or economic policy and tax legislation and interpretation; changes in laws and regulations or in supervisory expectations or requirements, including capital, interest rate and liquidity requirements and guidance, and the effect of such changes on funding costs; changes to our credit ratings; operational and infrastructure risks; reputational risks; the accuracy and completeness of information the Bank receives on customers and counterparties; the timely development and introduction of new products and services; our ability to execute our strategic plans, including the successful completion of acquisitions and dispositions, including obtaining regulatory approvals; critical accounting estimates and the effect of changes to accounting standards, rules and interpretations on these estimates; global capital markets activity; the Bank's ability to attract, develop and retain key executives; the evolution of various types of fraud or other criminal behaviour to which the Bank is exposed; disruptions in or attacks (including cyber-attacks) on the Bank's information technology, internet, network access, or other voice or data communications systems or services; increased competition in the geographic and in business areas in which we operate, including through internet and mobile banking and non-traditional competitors; exposure related to significant litigation and regulatory matters; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; the emergence of widespread health emergencies or pandemics, including the magnitude and duration of the COVID-19 pandemic and its impact on the global economy and financial market conditions and the Bank's business, results of operations, financial condition and prospects; and the Bank's anticipation of and success in managing the risks implied by the foregoing. A substantial amount of the Bank's business involves making loans or otherwise committing resources to specific companies, industries or countries. Unforeseen events affecting such borrowers, industries or countries could have a material adverse effect on the Bank's financial results, businesses, financial condition or liquidity. These and other factors may cause the Bank's actual performance to differ materially from that contemplated by forward- looking statements. The Bank cautions that the preceding list is not exhaustive of all possible risk factors and other factors could also adversely affect the Bank's results, for more information, please see the "Risk Management" section of the Bank's 2019 Annual Report, as may be updated by quarterly reports. Material economic assumptions underlying the forward-looking statements contained in this document are set out in the 2019 Annual Report under the headings "Outlook", as updated by quarterly reports. The "Outlook" sections are based on the Bank's views and the actual outcome is uncertain. Readers should consider the above-noted factors when reviewing these sections. When relying on forward-looking statements to make decisions with respect to the Bank and its securities, investors and others should carefully consider the preceding factors, other uncertainties and potential events. Any forward-looking statements contained in this document represent the views of management only as of the date hereof and are presented for the purpose of assisting the Bank's shareholders and analysts in understanding the Bank's financial position, objectives and priorities, and anticipated financial performance as at and for the periods ended on the dates presented, and may not be appropriate for other purposes. Except as required by law, the Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by or on its behalf. Additional information relating to the Bank, including the Bank's Annual Information Form, can be located on the SEDAR website at www.sedar.com and on the EDGAR section of the SEC's website at www.sec.gov. 2#3TABLE OF CONTENTS Scotiabank Overview • • • • • • • • Leading Bank in the Americas Well-Diversified Business with Strong Returns Business Lines Why Invest in Scotiabank? Focused on Higher Return Markets • Increasing Banking Penetration Economic Outlook in Core Markets • COVID-19: Pacific Alliance Scotiabank Customer Activity Customer Assistance Programs Q3 2020 Financial Performance Earnings and Dividend Growth Strong Capital Position Digital Progress Technology Strategy Fintech Environmental, Social & Governance (ESG) Business Line Overview: Canadian Banking Business Line Overview: International Banking Business Line Overview: Global Wealth Management Business Line Overview: Global Banking and Markets Risk Overview 11 456789012345678902225 46 50 • Well Provisioned • Risk Snapshot • Risk Density • • Historical PCL Ratios on Impaired Loans Retail Loans and Provisions Sectors Most Impacted by COVID-19 Energy - E&P and Oilfield Services Exposure Treasury and Funding • Pandemic Response • Funding Strategy • Wholesale Funding • Deposit Overview • . Wholesale Funding Utilization Liquidity Metrics Appendix 1: Core Markets: Economic Profiles Appendix 2: Canadian Housing Market Appendix 3: Additional Information Contact Information 51 52 53 54 55 57 58 59 60 61 62 63 64 65 66 72 79 83 3#4Scotiabank Overview · . • • Leading bank in the Americas with competitive scale in high return markets Repositioning of business substantially complete Greater geographic focus, increased scale in core markets, and improved business mix Strong credit quality. Well provisioned. Improved capital and liquidity ratios Near-term earnings impact from COVID-19 4#5Leading Bank in the Americas¹ Core markets: Canada, US, Mexico, Peru, Chile and Colombia 7th largest bank by assets¹ in the Americas Mexico (BBB) #5 Bank Peru (BBB+) #3 Bank Q3 2020 Change Full-Service, Universal Bank Scotiabank2 YTD YTD/YTD Canada (AAA) #3 Bank Canada Mexico Peru Chile United States Colombia Revenue Net Income Return on Equity Operating Leverage Productivity Ratio $23,634MM +2% $5,023MM -28% 10.2% (370 bps) +1.1% n.a. 52.9% +20 bps (AA+) Caribbean Top 15 FBO Uruguay Total Assets $1.2T +10% Colombia (BBB-) Ranking by Market Share³ #6 Bank Wholesale Operations Canada #3 USMCA USA USA Top 15 FBO UK Mexico #5 Singapore Peru #3 Australia PAC Ireland Hong Kong SAR Chile Colombia #4 #6 China Brazil Chile (A+) South Korea Malaysia Earnings by Market2,4 Other- C&CA #4 Bank India Japan 7% 3% PAC 16% 64% Canada 10% U.S.A 1 Ranking by asset as at August 20, 2020, Bloomberg; 2 Adjusted for acquisition and divestiture-related amounts, impact of additional pessimistic scenario in ACLs, Derivative Valuation Adjustment, and impairment charge on software asset. Operating Leverage excludes divested operations; 3 Ranking based on market share in loans as of June 2020 for PAC (incl. M&A), as of May 2020 in Canada for publically traded banks; 4 Adjusted net income attributable to equity holders of the Bank for the 9 months ended July 31, 2020 5#6Well-Diversified Business with Strong Returns Earnings by Business Line 1,2,3 Wealth Management 18% Global Wealth Management Caribbean and Central America Earnings by Market¹,2 Europe, Asia, Brazil, Australia Other C&CA 7% Chile 3% Wholesale Banking 30% Canadian 4% 18% Banking P&C Personal & Commercial Peru 7% 35% Banking Q3 2020 YTD Mexico EARNINGS MIX 52% Q3 2020 YTD 5% $5.2B³ U.S. EARNINGS MIX $5.2B³ 10% Global Banking and Markets 30% Adjusted Return on Equity 1,2 by Business Line International Banking P&C 17% 14.5% 13.9% 15.6% 10.2% 5.8% Canadian Banking International Banking Global Wealth Management Global Banking and Markets All Bank Canada 64% 1Net income attributable to equity holdersor for the 9 months ended July 31, 2020; 2 Adjusted for acquisition and divestiture-related amounts, impact of additional pessimistic scenario in ACLs, Derivative Valuation Adjustment, and impairment charge on software asset; 3 Excluding Other segment and Colombia (loss) 6#7Business Lines Activity Business Line Products Loans Personal Loans • Personal Loans Credit Cards • Credit Cards NIAEH¹ ($MM) $1,822 $865 Personal & Commercial Banking Canadian Banking • Mortgages Auto Loans Commercial International Banking • Mortgages Auto Loans Commercial Loans Wealth Management Global Wealth Management • Asset Management Private Banking Private Investment Counsel • Brokerage Capital Markets Global Banking and Markets • Corporate Banking Advisory Equities Fixed Income Foreign Exchange • Commodities $1,574 ⚫ Trust $964 % All-Bank¹ 35% 17% 18% 30% % Target 35-40% 25-30% ~15% 15-20% Productivity 46.7% 52.6% 61.6% 44.2% Ratio¹ ROE1 14.5% 5.8% 13.9% 15.6% Employees² 18,409 50,403 7,148 2,408 1 Adjusted figures for the 9 months ended July 31, 2020 2 As at July 31, 2020 7#8Why Invest in Scotiabank? Leading bank in the Americas • Six core markets: Canada, US, Mexico, Chile, Peru and Colombia • ~90% of earnings from six core markets Diversified exposure to high quality growth markets · , Increasing scale and market share in core markets • $ Improved earnings quality, lower risk profile • Unique Americas footprint provides diversified exposure to higher growth, high ROE banking markets 225 million people in the Pacific Alliance countries comprise the 6th largest economy in the world Competitive scale and increasing market share in core markets Competitive advantages in technology, risk management, and funding versus competitors • Increased scale in Wealth Management and P&C businesses via M&A • ~70% of earnings from stable P&C banking and wealth businesses • Simplified footprint lowers operational risk and regulatory costs . Strong Canadian risk management culture with strong capabilities in AML and cybersecurity Strengthening competitive advantages in technology and talent High levels of technology investment supports digital banking strategy to increase digital sales and adoption Named "Bank of the Year" in Canada (2019) Named "Best Bank in North America for Innovation in Digital Banking (2020) 8#9Focused on Higher Return Markets 20% 15% 10% 5% 0% Banking: Average ROE by Market (Latest Reporting Period) 12.5% 10.1% 8.0% 7.8% 2.4% Canada Latam Asia US Europe ~80% of all-bank earnings Return on equity in latest reporting period for the leading bank by market share for loans in each country. Canada and US figures are average for five largest and 10 largest market share banks in each country, respectively Sources: Bloomberg LLP, Company Financial Reports. 9#10Increasing Banking Penetration Banking Penetration (%)¹ 150 100 Growth Markets Brazil Chile Colombia C&CA 50 PAC Peru ⚫ Cambodia Mexico Czech Republic Mature Markets Canada U.K. Spain U.S. Bubble size represents nominal GDP Scotia P&C Markets Scotia Americas Wholesale Markets Other Markets $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 GDP per Capita (US$)² 1 Source: World Bank Open Data 2018. Banking Penetration is defined as account ownership at a financial institution or with a mobile-money-service provider (% of population ages 15+) 2 Source: World Bank Open Data 2018. GDP per capita is nominal gross domestic product divided by mid year population 10 10#11Economic Outlook in Core Markets Real GDP Growth Forecast (2019-2021) Real GDP (Annual % Change) Forecast Country 2010-18 Average 2019 2020F 2021F Previous¹ Current² Previous¹ Current² Canada 2.2 1.7 -9.1 -6.6 6.5 5.4 U.S. 2.3 2.3 -6.3 -4.7 7.0 5.4 Mexico 3.0 -0.3 -8.4 -9.1 1.1 3.1 Peru 4.8 2.2 -9.0 -11.5 7.0 8.7 Chile 3.6 1.1 -4.5 -6.0 2.9 4.4 Colombia 3.8 3.3 -2.9 -7.5 3.6 5.0 PAC Average 3.8 1.6 -6.2 -8.5 3.7 5.3 Source: Scotiabank Economics. 1 Forecasts as of April 17, 2020 for Canada; Forecasts as of May 16, 2020 for U.S., Mexico, Peru, Chile, and Colombia 2 Forecasts as of August 4, 2020 for Canada; Forecasts as of August 8, 2020 for U.S., Mexico, Peru, Chile, and Colombia 11#12COVID-19: Pacific Alliance Mexico Economic Outlook GDP Growth - Current Forecast (Previous Forecast) • 2020: -9.1% (-8.4%). 2021: +3.1% (+1.1%) COVID-19 New Case Trend: COVID-19 Restrictions: Peru Economic Outlook GDP Growth - Current Forecast (Previous Forecast) 2020: -11.5% (-9.0%). 2021: +8.7% (+7.0%) COVID-19 New Case Trend: COVID-19 Restrictions: Travel Event Restrictions: Restrictions: No Some School Closures: Yes Quarantine Measures: No Curfew Restrictions: Some Travel Event Restrictions: Restrictions: Yes Yes School Closures: Yes Quarantine Measures: Yes Curfew Restrictions: Some Fiscal & Financial Support: 0.8% of GDP Key Measures: Liquidity programs, customer assistance programs, small business and sector-specific programs. Chile Economic Outlook GDP Growth - Current Forecast (Previous Forecast) • 2020: -6.0% (-4.5%). 2021: +4.4% (+2.9%) COVID-19 New Case Trend: COVID-19 Restrictions: Fiscal & Financial Support: 7.0% of GDP Key Measures: Liquidity programs, retirement savings withdrawals, loan guarantees, customer assistance programs, tax holidays. Colombia Economic Outlook GDP Growth - Current Forecast (Previous Forecast) 2020: -7.5% (-2.9%). 2021: +5.0% (+3.6%) COVID-19 New Case Trend: COVID-19 Restrictions: Travel Event School Restrictions: Restrictions: Closures: Yes Yes Yes Quarantine Measures: Yes Curfew Restrictions: Yes Travel Event School Restrictions: Restrictions: Closures: Yes Yes Yes Quarantine Measures: Yes Curfew Restrictions: Some Fiscal & Financial Support: 19.3% of GDP Key Measures: Liquidity programs, customer assistance programs, loan guarantees, tax holidays, employment programs. Fiscal & Financial Support: 3.9% of GDP Key Measures: Liquidity programs, customer assistance programs, loan guarantees, tax holidays, small business programs. Source: Scotiabank Economics. Legend: Comprehensive Partial Minor/None 12#13Scotiabank Customer Activity 500 400 300 200 100 Canada: Daily Debit and Credit Card Transaction Volumes ($MM) Start of COVID-19 Lockdown 8,000 Canada: New Mortgage and Auto Originations ($MM) 6,000 ཨངྒཱརཾཀསདི ། 4,000 Nov Dec Jan Feb Mar Apr May Jun Jul 2020 ----2019 Business Banking Revolving Facilities Utilization Rate 2,000 Nov Dec Jan Feb Mar Apr May Jun Jul 2020 -2019 Customer DCM/ECM Activity ($MM)1 937 658 39% 36% 33% 31% 30% 30% 29% 28% 29% 30% 30% 30% 152 5,092 493 4,242 317 3,055 2,045 1,335 Aug-19 Oct-19 Dec-19 Feb-20 Apr-20 Jun-20 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 DCM ECM 1 Canadian debt and equity capital markets issuance activity 13#14Customer Assistance Programs Active Deferral Active Product Types Canada Requests 1 Total Exposure¹ % Deferral Exposure Expired 1 #('000s) % ($B) % Expiring Deferral Exposure in Q4/201 ($B) % Current following Deferral Expiry 1,2 % Mortgages 137 58.1% $39.0 94.0% 10.8% $35.3 90.6% 99.4% Credit Cards 33 13.9% $0.2 0.4% 66.9% $0.2 100.0% 94.4% Personal Loans 66 28.0% $2.3 5.6% 57.4% $2.1 91.2% 93.2% Total/Average 236 100.0% $41.5 100.0% 16.5% $37.6 90.7% 96.3% International Mortgages 99 4.3% $9.4 52.0% 24.1% $8.0 85.3% 90.6% Credit Cards 1,504 64.5% $3.5 19.5% 16.9% $3.2 90.2% 86.8% Personal Loans 727 31.2% $5.2 28.5% 37.3% $5.0 97.0% 89.5% Total/Average 2,330 100.0% $18.1 100.0% 27.3% $16.2 89.6% 88.8% Weekly Deferral Requests Granted ($B) 1 Deferral Expiry Schedule ($B) 1 Canadian Banking International Banking 12 8 4 A 2.4 41.5 23.3 18.1 11.1 11.9 3.7 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Jul-20 Aug-20 Sep-20 Oct-20 3.9 Post - Oct-20 Jul-20 -1.4 1.9 Aug-20 Sep-20 Oct-20 Post- Oct-20 International ⚫Canada 1 As at July 31, 2020 2 Canadian payments % includes accounts that have not yet completed first billing cycle since expiring 14#15Q3 2020 Financial Performance $MM, except EPS Q3/20 Y/Y Q/Q Reported • Net Income $1,304 (34%) (2%) . Pre-Tax, Pre Provision Profit $3,716 +8% +3% Diluted EPS $1.04 (31%) +4% • Revenue $7,734 1% (3%) Expenses $4,018 (5%) (8%) • Productivity Ratio 52.0% (300 bps) (280 bps) Core Banking Margin 2.10% (35 bps) (25 bps) PCL Ratio¹ 136 bps +88 bps +17 bps • PCL Ratio on Impaired Loans¹ 58 bps +6 bps +2 bps Adjusted² • Net Income $1,308 (47%) (5%) . Pre-Tax, Pre Provision Profit $3,738 (3%) +2% Diluted EPS $1.04 (45%) Revenue $7,689 (3%) (3%) YEAR-OVER-YEAR HIGHLIGHTS Adjusted EPS down 45%² Pre-tax, pre-provision profit (PTPP) down 3%², up 2% excluding divestitures Adjusted Revenue down 3%² or flat excluding impact of divestitures Core banking NIM down 35 basis points o Excess balance sheet liquidity and margin compression in business lines Adjusted Expenses declined 4%² or -1.6% excluding impact of divestitures YTD PTPP up 7%² ex. divestitures Adjusted YTD operating leverage of -0.5%², +1.1%² excluding divestitures ADJUSTED NET INCOME³ BY BUSINESS SEGMENT ($MM) Expenses $3,951 (4%) (8%) Productivity Ratio 51.4% (30 bps) (260 bps) -53% Y/Y -93% Y/Y4 +60% +6% Y/Y Y/Y 914 761 433 53 600 312 332 374 CB IB GWM GBM 1 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures 2 Refer to Non-GAAP Measures on slide 45 for adjusted results 3 After non-controlling interests 4Y/Y growth rate is on a constant dollars basis Q3/19 Q3/20 15 15#16Earnings and Dividend Growth Strong track record of stable and predictable earnings and growing dividends Earnings per share (C$)1,2 $3.31 60 10 11 23 Dividend per share (C$) $1.96 +8% $7.14 CAGR 19 $3.91 20YTD +6% CAGR Total shareholder return³ Scotiabank 1.9% Big 5 Peers (ex. Scotiabank) 6.3% 5.2% 9.8% 10.0% 8.4% 5 Year 10 Year 20 Year $3.49 $2.70 09 10 11 12 13 14 15 16 17 18 19 20 YTD 1 Reflects adoption of IFRS in Fiscal 2011.2 Excludes notable items for years prior to 2016. For 2016 onwards, results adjusted for acquisition and divestiture-related amounts, impact of additional pessimistic scenario in ACLS, Derivative Valuation Adjustment, and impairment charge on software asset. 3 As of July 31, 2020 16#17Strong Capital Position CET1 Ratio +17 bps -7 bps 11.3% +28 bps +31 bps -26 bps 10.9% Q2/20 Reported Earnings (1) Dividends Lower RWA ECL Transitional Pension Capital Relief Q3/20 Reported Internal capital generation Strong Capital Levels 14.8% 2.5% 1.1% 14.2% 14.6% 14.0% 14.9% 2.0% 2.1% 2.1% 2.1% 1.1% 1.1% 1.5% 1.0% 11.2% 11.1% Q3/19 1 Net Income Available to Equity Holders 11.4% 10.9% 11.3% Q4/19 Q1/20 Q2/20 Q3/20 CET1 Tier 1 Tier 2 17 15#18Digital Progress Winner of The Banker "Innovation in Digital Banking North America¹“ award #1 ranking in Canada Online Banking Satisfaction Study (J.D. Power 2020) Leading mobile banking app in Canada4 Digital account opening and sales capabilities that reduces processing time by up to 75% in PAC Implemented various digital solutions to provide financial support and advisory to our customers during COVID-19 Digital Retail Sales² 15 11 +2,700 bps 38 28 22 22 Digital Adoption³ +2,000 bps 46 39 33 29 26 2016 2017 2018 2019 Q3/20 2016 2017 2018 2019 Q3/20 Goal >50% Goal >70% 1 By the Banker magazine, a Financial Times publication 2 Canada: F2017 22%, F2018 26%, F2019 26% PACS: F2017 13%, F2018 19%, F2019 29% 3 Canada: F2017 36%, F2018 38%, F2019 42% PACS: F2017 20%, F2018 26%, F2019 35% 4 Based on weighted-average Apple Store and Google Play ratings (August 23, 2020) 18#19Technology Strategy Co $ Build a strong and scalable platform foundation . Cloud-first strategy for automation and speed Rebalance core technology spending towards modernization Maintain consistent investment in technology Technology Investment Growth Rate (YoY Change) 21% rate Moderating to 12% 14% steady-state growth 11% 9% 7% 2014 2015 2016 2017 2018 2019 • Technology Investment ~11% of revenue ($3.6B) Common systems • Software re-use, best practice-sharing • Consistent software design • Customer-focused micro-services Analytics on real-time data • Strong cyber-security foundation 19#20Fintech Partnerships QED INVESTORS Georgian Partners Scale UP VENTURES • • • V VIOLA VENTURES • TEAM8 Rethinking Cyber 1 Selected proof of concepts with fintech partners Focus Areas Proof of Concepts¹ Credit adjudication Accessibility Natural language processing Personal financial management Customer experience and self-service Machine-learning modelling Data collaboration Cybersecurity konfio Cerebri≥ Fable Tech Labs Eigen Technologies personetics® HH wysdom stratifyd™ callvu H₂O cinchy TEAM8 Rethinking Cyber 20 20#21Environmental, Social & Governance (ESG) Scotiabank's Climate Commitments include: Mobilize $100 billion by 2025 to reduce the impacts of climate change. Memberships, Associations and Partnerships MEMBER OF Dow Jones Sustainability Indices In Collaboration with Robeco SAM SAM Sustainability Award Industry mover 2019 UN GLOBA COMPACT United Nations UN Global Compact WOMEN E TASK FORCE ON CLIMATE-RELATED FINANCIAL TCFDs DISCLOSURES SAM Sustainability Award Bronze Class 2019 2019 = Bloomberg Gender-Equality Index TOP 100 COMPANY 2018 Thomson Reuters Diversity & Inclusion Index REFINITIV TOP 100 COMPANY 2019 Diversity and Inclusion Index FINANCE UNEP INITIATIVE PRI Principles for Responsible investment CDP DRIVING SUSTAINABLE ECONOMIES SUSTAINABLE DEVELOPMENT GOALS EQUATOR PRINCIPLES CP LC CARBON PRICING LEADERSHIP COALITION 21 21#22Environmental, Social & Governance (ESG) Highlights from 2019/2020 E Environmental TRUST S Social G Governance Committed to mobilize $100 billion by 2025 to reduce the impacts of climate change Issued USD$500 million Green Bond. Proceeds fund assets under the Scotiabank Green Bond Framework, including clean transportation and green buildings Launched Sustainable Finance Group within the Global Banking and Markets (GBM) division Achieved 17% greenhouse gas (GHG) reduction from a 2016 baseline, achieving our 10% target two years early; set new target of 25% by 2025 Increased internal price on carbon from $15 to $30/tonne for investments in GHG reduction initiatives; will rise to $60/tonne by 2022 Implemented a Climate Change Risk Assessment tool in corporate & commercial lending to assess clients' physical & transition climate risks • We are here for every future COVID-19 response includes various relief measures for customers, added personal days and wellness expense allocations for employees, and a commitment of $15 million to support communities most at-risk, including our partner programs and our ongoing support of hospitals and healthcare professionals Nearly $100 million invested globally in communities where we operate as part of our global philanthropy program $3 billion in funding committed over the first three years of The Scotiabank Women Initiative™ to advance women-led businesses in Canada Signed the UN Women's Empowerment Principles and UN LGBTI Codes for Business Conduct $250 million committed over 10 years to help employees adapt to the digital economy • • CEO signed the BlackNorth Initiative CEO Pledge and was named to the Board of Directors Top 1% of global financial institutions for Corporate Governance in Dow Jones Sustainability Index 38% of our directors are female. We first established a Board diversity policy in 2013 Appointed third independent Chairman in 2019. Separate CEO and Chairman roles since 2004 Dedicated significant Board time to cybersecurity, anti-money laundering, conduct and culture issues, keeping the Bank safe Named Best Bank in North America for Innovation in Digital Banking by The Banker Magazine 22 22#23Business Line Overview Canadian Banking 23 23#24Canadian Banking Top 3 bank in personal & commercial banking in Canada Canadian Banking provides a full suite of financial advice and banking solutions, supported by an excellent customer experience, to Retail, Small Business, Commercial Banking customers. Canadian Banking also provides an alternative self- directed banking solution to over 2 million Tangerine Bank customers. Retail 75% REVENUE MIX1,2 $2.5B Commercial 25% Residential Mortgages 62% AVERAGE LOAN MIX1 $356B MEDIUM-TERM FINANCIAL OBJECTIVES Target³ NIAT Growth4 5%+ Productivity Ratio <44% Credit Cards 19% 17% Business and Government Loans Personal Loans Operating Leverage Positive STRATEGIC OUTLOOK Improve Sustained Business Performance: Invest to grow our higher ROE businesses, including Business Banking, to deliver consistent and stable long-term earnings growth ⚫ Instill a Winning team Culture: Engage employees through a RESULTS (Revenue, Earnings, Simplify, Urgency, Listen, Trust, Support) focused culture Superior Customer Experience: Develop deeper household relationships for our customers across Canada by providing differentiated focus and service to those who are most loyal and engaged Scale our unique partnerships and assets: Leverage our long-term partnerships and assets like MLSE, Scene and Wealth businesses to generate growth across our division 1 For the three months ended July 31, 2020; 2 Reflects the adoption new leases accounting standards, IFRS16; 33-5 year target from 2020 Investor Day; 4 Adjusted Net income attributed to equity shareholders 24#25Canadian Banking $MM Q3/20 Y/Y Q/Q Reported Net Income¹ $429 (53%) (10%) Pre-Tax, Pre Provision Profit $1,328 (10%) +2% Revenue $2,500 (6%) (1%) Expenses $1,172 (2%) (4%) PCLs $752 +212% Productivity Ratio 46.9% +210 bps +12% (140 bps) Net Interest Margin 2.26% (18 bps) (7 bps) PCL Ratio² 0.85% +57 bps +8 bps PCL Ratio Impaired Loans² 0.36% +6 bps 0 bps Adjusted³ • Net Income¹ $433 (53%) (10%) Pre-Tax, Pre Provision Profit $1,333 (10%) +2% Expenses $1,167 (2%) (4%) PCLS $752 +212% +12% • Productivity Ratio 46.7% +210 bps (140 bps) • NIM down 18 bps PCL Ratio² 0.85% +57 bps PCL Ratio Impaired Loans² 0.36% +6 bps +8 bps 0 bps • • YEAR-OVER-YEAR HIGHLIGHTS Adjusted Net Income down 53%³ o PCLs up 212%; mainly from performing loan PCLs o Adjusted expenses down 2%3 o Strong volume growth and lower expenses offset by lower net interest income and non-interest income Revenue down 6% o Net interest income down 4%; margin compression o Non-interest income down 13%; lower economic activity Loan growth of 5% o Residential mortgages up 6%; credit card loans down 13% o Business loans up 10% Deposit growth of 10% ADJUSTED NET INCOME¹³ ($MM) AND NIM (%) 2.44% 2.41% 2.36% 2.33% 2.26% 1 Attributable to equity holders of the Bank 2 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures 3 Refer to Non-GAAP Measures on slide 45 for adjusted results 914 902 908 481 433 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 25#26Canadian Banking: Financial Performance High quality retail loan portfolio: ~93% secured • High quality residential mortgage portfolio 81% Real Estate Secured Lending 。 39% insured; remaining 61% uninsured has an LTV of 53%¹ • Market leader in auto loans 。 $37.9 billion retail auto loan portfolio with 7 OEM relationships (3 exclusive) o Prime Auto and Leases (~91%) 。 Stable lending tenor with contractual terms for new originations averaging 77 months (6.5 years) with projected effective terms of 53 months (4.5 years) • Prudent growth in credit cards 。 $6.6 billion credit card portfolio represents ~2% of domestic retail loan book and 1.0% of the Bank's total loan book o Organic growth strategy focused on payments and deepening customer relationships 。 Strong risk management culture with specialized credit card teams, customer analytics and collections focus o Prudent growth of Card portfolio given elevated unemployment across Canada and additional pressure on loan obligations: derisking policies remain in place to ensure borrowers' debt capacity and credit profile are within the Bank's controlled risk appetite under crisis 5% Unsecured DOMESTIC RETAIL LOAN BOOK² $303.6B 2% 1 LTV calculated based on the total outstanding balance secured by the property. Property values indexed using Teranet HPI data 2 Spot Balance as of July 31, 2020 Credit Cards 12% Automotive 26#27Canadian Banking: Residential Mortgages High quality, diversified portfolio Residential mortgage portfolio¹ of $238 billion: 39% insured; LTV 53% on the uninsured book² 。 Mortgage business model is “originate to hold" 。 New originations³ in Q3/20 had average LTV of 64% 。 Majority is freehold properties; condominiums represent approximately 14% of the portfolio ⚫ Four distinct distribution channels: all adjudicated under the same standards o 1. Broker (~60%); 2. Branch (~18%); 3. Mobile Salesforce (~21%) and 4. eHOME (~1%) 。 Scotiabank eHOME is our fully digital 4th distribution channel for pre-approvals and standard applications. Since the launch of eHOME, we have processed more than 15,000 mortgage applications. In September, we will be launching eHOME in Quebec, to support the Grow Quebec Strategy CANADIAN MORTGAGE PORTFOLIO¹: $238B (SPOT BALANCES AS AT Q3/20, $B) $124.6 $15.9 Freehold $204B 39% Condos - $34B Insured $108.7 $45.1 Total Portfolio 1: $238 billion $11.7 $31.0 $3.7 $33.4 $27.3 Ontario BC & Territories Alberta $16.6 $14.6 Quebec $2.0 $11.0 $10.8 $9.6 $0.2 $8.9 $0.7 Atlantic Provinces Manitoba & 61% Saskatchewan % of Uninsured portfolio 52.3% 19.0% 13.1% 7.0% 4.6% 4.0% 1 Includes Wealth Management 2LTV calculated based on the total outstanding balance secured by the property. Property values indexed using Teranet HPI data 3 New originations defined as newly originated uninsured residential mortgages and have equity lines of credit, which include mortgages for purchases refinances with a request for additional funds and transfer from other financial institutions 27 22#28- Canadian Residential Mortgages – LTVs* Credit fundamentals remain strong NEW ORIGINATIONS UNINSURED LTV1 DISTRIBUTION BC & Territories GVA 63% GTA 62% Q3/19 Q2/20 Q3/20 Canada Total Originations ($B) Uninsured LTV 14.0 10.5 13.0 64% 64% 64% GTA Total Originations ($B) Uninsured LTV 4.5 3.3 3.7 63% 62% 62% 64% Prairies 67% ON QC Atlantic Provinces 63% 67% 66% GVA Total Originations ($B) Uninsured LTV 1.6 1.4 1.5 61% 62% 63% 1 Average LTV ratios for our uninsured residential mortgages originated during the quarter FICO® DISTRIBUTION - CANADIAN UNINSURED PORTFOLIO² Ⓡ Average FICO® Score 62% Canada 788 GTA 790 GVA 789 14% 10% 10% 4% < 635 636-706 707-747 748-788 > 788 FICO is a registered trademark of Fair Isaac Corporation 2 FICO distribution for Canadian uninsured portfolio based on score ranges at origination 3 Percentage is based on Total Mortgages *Above figures include Wealth Management Only <0.57% of uninsured portfolio³ has a FICO® score of <620 and an LTV >65% Canadian uninsured mortgage portfolio is $144 billion as at Q3/2020 28#29Tangerine Canada's Leading Digital Bank Medium Term Objectives +15% +6% Earnings Deposits CAGR CAGR #1 Maintain #1 Client Experience Position Results Our Approach #1 Digital Bank in Canada Tangerine continues to see momentum as it evolves from being a Savings Bank to an Everyday Bank +39% New Client Onboarding via Mobile +29% New Client Growth Y/Y +13% Deposit Growth Y/Y No.1 Client Satisfaction among Mid-Sized Banks in 2020 for the 9th year in a row +15% Digital Client Engagement Y/Y YTD +14% Digital Transaction Growth Y/Y Product Innovation Broaden asset and payments portfolios to deepen Client relationships and drive earnings growth Client Experience Maintain industry-leading position in Client Experience through best-in-class onboarding and servicing. Strategic Partnerships Leverage partnerships with Raptors, MLSE and FinTechs to broaden our reach, deliver innovative solutions and drive client growth. 'Tangerine received the highest score among midsize retail banks in the J.D. Power 2012-2020 Canada Retail Banking Satisfaction Studies of customers' satisfaction with their primary bank. Visit jdpower.com/awards.. 29 29#30Automotive Finance Canada's leader in automotive finance Provide personal and commercial dealer financing solutions, in partnership with seven leading global automotive manufacturers in Canada • Portfolio remained flat year-over-year¹ Personal up 1.4%, Commercial down 7.6% Commercial 14% AVERAGE Exclusive Relationships MAZDA VOLVO JAGUAR/LAND ROVER ASSET MIX Near-Prime 8% Retail $44.0B1 Semi-Exclusive Relationships* 79% 100% Secured HYUNDAI CHRYSLER GM TESLA Prime Retail * 1 to 2 other financial institutions comprise Semi-Exclusive relationships Market Share Prime Retail Market Share² 63 % 37 dow Near-Prime Retail Market Share3 78 % 22 % Commercial Floorplan Market Share4 73 % 2286 27 % 1 For the three months ended July 31, 2020; 2 CBA data as of April 2020, includes RBC, CIBC, Canadian Western Bank, National Bank, TD, Scotiabank, Laurentian Bank; 3 DealerTrack Portal data, includes all Near-Prime Retail providers on Dealer Track Portal, data for July 2020 originations; 4 Includes BMO, CIBC, RBC, Scotiabank, TD, HSBC, Canadian Western Bank, Laurentian Bank, data as of March 2020 30#31Business Line Overview International Banking 31#32International Banking Leading P&C bank focused on high quality growth markets in Latin America and the Caribbean ⚫ International Banking operates primarily in Latin America and the Caribbean with a full range of personal and commercial financial services. Core markets are the Pacific Alliance countries of Mexico, Peru, Chile and Colombia Asia 21% C&CA REVENUE¹ $2.6B 77% 8% Other Latin America 25% Mexico Latin America 15% Colombia LOAN MIX1 Credit Cards 6% $157B 13% Personal Loans 26% Peru Business Loans 57% MEDIUM-TERM FINANCIAL OBJECTIVES Target² NIAT Growth³ 9%+ 24% Residential Mortgages Productivity Ratio <50% 92% PAC Operating Leverage Positive 26% Chile STRATEGIC OUTLOOK Optimize Footprint: Continue executing with discipline announced acquisitions and divestitures to enhance the risk profile of our portfolio and improve quality of our earnings • Lead in Customer Experience and Digital: Continue accelerating our digital transformation to amplify business impact and continue deploying digital solutions to other channels to optimize our distribution model ⚫ Accelerate Growth Drivers: Leverage new strategic partnership to accelerate insurance growth, scale our Capital Markets business in the Pacific Alliance and build our Wealth business with focus in affluent customer segment 1 For the 3 months ended July 31, 2020; 23-5 year target from 2020 Investor Day; 3 Excluding divestitures impact 32#33International Banking $MM1 Q3/20 Y/Y Q/Q Reported Net Income² $26 (96%) (85%) Pre-Tax, Pre Provision Profit $1,180 (21%) (4%) Revenue $2,570 (16%) (4%) Expenses $1,390 (11%) (4%) PCLS $1,278 189% 27% Productivity Ratio 54.1% +260 bps Net Interest Margin³ 3.99% (52 bps) (29 bps) • PCL Ratio4 3.33% +208 bps +55 bps PCL Ratio Impaired Loans4 1.49% +12 bps +4 bps Adjusted 5 Net Income² $53 (93%) (73%) Net Income - Ex Divested Ops.² Pre-Tax, Pre Provision Profit $52 (91%) (73%) • $1,226 (21%) (4%) Expenses $1,344 (11%) (4%) PCLs $1,278 189% 27% YEAR-OVER-YEAR HIGHLIGHTS1 Adjusted Net Income ex. divestitures down 91%2,5. Excluding divested operations: o PCLs up 187%; mainly from performing loan PCLs 。 Strong loan growth of 13% and deposits growth 11% Revenues ex. divestitures down 8% o Margin compression and lower non-interest income o PAC revenues down 5% NIM down 52 bps³ o Mainly driven by excess balance sheet liquidity, business mix changes and central bank rate cuts Adjusted Expenses ex. divestitures down 6%5 o Acquisition synergies and good cost control Adjusted YTD operating leverage of -0.8%5 ex. divestitures ADJUSTED NET INCOME 2,5 ($MM) AND NIM³ (%) Productivity Ratio 52.3% +250 bps (20 bps) 4.51% 4.51% 4.51% 4.28% PCL Ratio4 3.33% +208 bps +55 bps 3.99% 761 725 PCL Ratio Impaired Loans4 1.49% +12 bps +4 bps 147 615 158 59 614 197 567 556 53 1Y/Y and Q/Q growth rates (%) are on a constant dollars basis, while metrics and change in bps are on a reported basis 197 1 52 2 Attributable to equity holders of the Bank 3 Net Interest Margin is on a reported basis 4 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures 5 Refer to Non-GAAP Measures on slide 45 for adjusted results Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Ex. Divested Ops Divested Ops 33#34The Bank of the Pacific Alliance (PAC) Only universal bank with full presence in all Pacific Alliance countries Well-established bank with 30+ years of experience in the region Competitive scale in each market 8 million 1 Retail and ~30,000 Corporate & Commercial customers >100 multi-national corporate customers within the Pacific Alliance 110 million customers in PAC including affiliates 34 =4#35PAC Fundamentals Driving Growth Strong Governance Democratic countries with open economies Independent central banks with inflation targets Free trade agreements and free-floating currencies • Business-friendly environments Sound Macro Environment • Diversified economies with strong GDP growth Resilience to economic and political cycles Investment Grade- rated Low Debt/GDP ratios with lower fiscal deficits compared to G7 • Increasing adoption of banking services Favourable Demographics • 225 million people with median age of 30 years Strong domestic consumption • Much lower banking penetration compared to Canada Among the fastest growing smartphone markets in the world • Considerable growth in middle class 35#36Resilience of the Pacific Alliance Average Annual GDP Growth +2.9% +3.0% +3.1% +2.7% +1.8% +1.6% Notable Events H H (by country) Election Low Oil Prices Election & Odebrecht Election & Trade Dispute No events Social Unrest Approximate GDP -2.2%¹ -2.6%² -1.5%³ -1.5%4 Impact on country -1.8%5 +13% CAGR International $2.8 $3.2 Banking Earnings (C$B) $1.7 $1.9 $2.1 $2.4 2014 2015 2016 2017 2018 2019 NOTE: Pacific Alliance GDP growth calculated based on mean average of the four PAC countries 1 2013 GDP growth rate vs. 2014 - 2017 average; 2 2014 vs. 2015-2017 average; 3 2016 vs. 2017; 4 2016 vs. 2017-2019 average; 5 Estimated impact in 2020F due to social unrest; Source: Past GDP data from IMF; forecast from Scotiabank Economics 36#37Scotiabank in Mexico Including all Business Segments Footprint Customers Employees Branches1 23.1% ~3.5 million ~12,900 ~592 Balance and Market Position Loan Market Average Average Loans Share4 Deposits 7.8% $33 $26 billion billion Market Position by Loans4 13.8% 13.4% 12.5% 7.8% 7.4% 4.4% 3.3% 1.9% citibanamex 8 banregio BBVA Banorte Santander Banamex Scotiabank HSBC Inbursal Bajio Regio Financial Total NIAT 2,5 Performance ROE³ Productivity³ BBVA B BANORTE $371 11.2% 53.9% million NIAT5 Productivity Ratio +20% 63.0% CAGR 666 579 465 337 58.6% 55.4% 55.0% Operating Leverage 1.5% 7.5% 6.9% -0.9% 2016 2017 2018 2019 All figures in CAD$ Constant currency 2016 2017 2018 2019 2016 2017 2018 2019 1 Includes bank and wealth branches; does not include 177 Credito Familiar branches 2 Adjusted; for the LTM ended July 31, 2020 not adjusted for currency 3 Adjusted; for the LTM ended July 31, 2020 4 Source: CNBV as of June 2020 5 After NCI on an adjusted basis 37 37#38Scotiabank in Peru Including all Business Segments Footprint Customers¹ Employees¹ Branches1 Market Position by Loans4 33.1% 4.0 million 12,000 314 Balance and Market Position Loan Market Share4 Average Average Loans 19.7% 17.6% 12.0% Deposits 17.6% $22 $19 billion billion Financial Total NIAT 2,5 ROE 3 Productivity³ Performance BCP BCP BBVA BBVA Scotia Interbank $554 16.2% 35.4% million NIAT5 Productivity Ratio Operating Leverage +12% CAGR 40.0% 810 7.9% 39.3% 688 572 604 6.8% 5.0% 37.5% 2016 All figures in CAD$ Constant currency 1 Including subsidiaries 2017 2018 2019 2 Adjusted; for the LTM ended July 31, 2020 not adjusted for currency 3 Adjusted; for the LTM ended July 31, 2020 4 Market share as of June 2020. Scotiabank includes SBP, CSF and Caja CAT 5 After NCI on an adjusted basis 35.2% 1.8% 2016 2017 2018 2019 2016 2017 2018 2019 38#39Scotiabank in Chile Including all Business Segments Footprint Customers¹ Market Position by Loans4 Employees Branches1 >3 million ~9,000 162 18.6% 16.3% 14.3% 14.0% 14.0% Balance and Market Position Loan Market Average Loans Average 9.8% Share4 Deposits 14.0% $44 $23 billion billion Financial Total NIAT 2,5 ROE 3 Performance Productivity³ B Itaú $367 6.2% 43.2% Santander Chile BCI Scotiabank Estado Itaú million NIAT5 Productivity Ratio Operating Leverage 381 339 +28% 53.6% CAGR 718 515 2016 2017 2018 2019 All figures in CAD$ Constant currency 1 Includes affiliates & consumer microfinance 2 Adjusted; for the LTM ended July 31, 2020 not adjusted for currency 3 Adjusted; for the LTM ended July 31, 2020 4 Market share as of June 2020. Local view, exclude offshore loans. Source: CMF 5 NIAT Before NCI 49.5% 44.7% 43.4% -2.3% 13.3% 8.5% 4.3% 2016 2017 2018 2019 2016 2017 2018 2019 39#40Scotiabank in Colombia Including all Business Segments Footprint Customers¹ Employees¹ Branches1 26.1% 3.1 million ~9,000 188 Balance and Market Position Loan Market Share4 Average Loans Average Deposits 5.8% $12 $11 billion billion Market Position by Loans4 16.7% 12.1% 10.3% 6.2% 5.8% 4.2% Financial Total NIAT 2,6 ROE 3 Performance Productivity³ BBVA 1 Bancolombia Davivienda Bogotá 5 BBVA Occidente Scotiabank Popular -$2 -0.3% 58.5% Colpatria million NIAT6 73 38 +53% CAGR Productivity Ratio 139 54.5% 53.4% 52.6% 85 50.3% 2016 2017 2018 2019 All figures in CAD$ Constant currency 1 As of November 2019 2 Adjusted; for the LTM ended July 31, 2020 not adjusted for currency 3 Adjusted; for the LTM ended July 31, 2020 4 Market share as of June 2020 Operating Leverage 1.6% -1.8% -2.4% -6.4% 2016 2017 2018 2019 2016 2017 2018 2019 5 Members of AVAL Group: Banco de Bogotá, Banco de Occidente, Banco Popular and Banco AV Villas. AVAL is 2nd in market share in terms of Loans (25%) and 1st in Deposits (27%) 6 After NCI on an adjusted basis 40 40#41Other Regions Leading Caribbean & Central American franchise Caribbean & Central America Asia Leading bank serving retail, commercial, and corporate customers Major markets include the Dominican Republic, Jamaica, Trinidad & Tobago, Costa Rica, Panama and The Bahamas • Sharpened geographic footprint by exiting higher risk, low growth jurisdictions including Haiti, El Salvador, Puerto Rico, US Virgin Islands, British Virgin Islands and 7 of the Leeward Islands • Dominican Republic: #4 bank Acquired Banco Dominicano del Progreso in 2019 Thailand: 6% interest in TMB Bank • Reduced investment in Thailand in Q1/20 resulting ~6% minority interest in TMB Bank China: ~18% interest in Bank of Xi'an . • CAD $877MM carrying value as of July 31, 2020 CAD $496MM of net income for twelve months ended October 31, 2019 41#42Business Line Overview Global Wealth Management 42 42#43Global Wealth Management Profitable, High Growth, Strong Momentum • Global Wealth Management is focused on delivering comprehensive wealth management advice and solutions to clients across Scotiabank's footprint Employees¹ ~7,200 Countries¹ 14 MEDIUM-TERM FINANCIAL OBJECTIVES Target³ Assets Under Administration¹ Assets Under Management¹ Earnings Growth 8%+ $503 $293 billion billion Productivity Ratio <65% Return on Equity 1,2 Productivity Ratio 1,2 Operating Leverage 1,2 Operating Leverage Positive 14.3% 60.3% 3.0% Competitive Advantages Asset Management: Proprietary and 3rd Party Fund Distribution Advisory: Fully-integrated advice model, including Private Banking 1 Figures as of July 31, 2020 or for the 3 months ended July 31, 2020 2Adjusted for Acquisition-related costs and impact of additional pessimistic scenario 33-5 year target from 2020 Investor Day 43#44Global Wealth Management $MM, except AUM/AUA Q3/20 Y/Y Q/Q • Reported Net Income¹ $321 +6% +6% • Pre-Tax, Pre Provision Profit $435 +5% +6% Revenue $1,135 +1% Expenses $700 (3%) (2%) PCLS $1 N/A N/A . YEAR-OVER-YEAR HIGHLIGHTS Adjusted Net Income up 6%² Revenue up 2% excluding divestitures o Higher brokerage fees from strong iTRADE volumes o Strong retail mutual fund net sales Adjusted Expenses down 3%² Productivity Ratio 61.7% (170 bps) (170 bps) . AUM ($B) $293 (1%) +6% Adjusted YTD operating leverage of +2.4%², excluding divestitures AUA($B) $503 +2% +5% Adjusted² • Net Income¹ $332 +6% +6% • Pre-Tax, Pre Provision Profit $450 +5% +5% Expenses $685 (3%) (2%) PCLS $1 N/A N/A Productivity Ratio 60.3% (190 bps) (160 bps) o Third consecutive quarter with positive operating leverage Adjusted productivity ratio² improved 190bps Excluding divestitures, AUM up 4% and AUA up 6% o Driven by market recovery from prior quarter and strong net sales ADJUSTED NET INCOME ¹² ($MM) AND ROE² (%) -1,2 13.5% 13.6% 13.7% 13.8% 1 Attributable to equity holders of the Bank 2 Refer to Non-GAAP Measures on slide 45 for adjusted results 14.3% 332 318 312 314 314 1 2 332 311 312 318 314 Q3/19 Q4/19 Q1/20 Ex. Divested Ops Q2/20 Q3/20 Divested Ops 44#45Sources: Canada Advisory Global Wealth Management Profitable, High Growth, Strong Momentum Private Investment Counsel Private Banking Trust Full Service Brokerage Discount Brokerage Retail Mutual Funds Institutional Funds Mexico AUM Chile AUM Peru AUM International Asset Management 1st 2nd 3rd 4th 5th 6th 000 O О 00 000 000О O О 0000О С О О Private Investment Counsel and Trust per Fee-based Report Canada Winter 2020, Investor Economics Canada, December 2019 Wealth Distribution per Retail Brokerage and Distribution Report Spring 2020, Investor Economics Canada, March 2020 Retail Mutual Fund per IFIC June 2020 release, Institutional Funds per Strategic Insight December 2019 survey. International: Mexico: AMIB; Chile: AAFM; Peru: SMV 45#46Business Line Global Banking Overview and Markets 46#47Global Banking and Markets Second-largest Canadian wholesale banking and capital markets business Full-service wholesale bank the Americas, with operations in 21 countries, serving clients across Canada, the United States, Latin America, Europe and Asia-Pacific MEDIUM-TERM FINANCIAL OBJECTIVES Business Banking Target² 43% Asia Canada Europe 4% 6% Global Equities 54% 15% GEOGRAPHIC REVENUE BY REVENUE1 BUSINESS LINE1 $1.5B $1.5B 36% US 42% FICC NIAT Growth ~5% Productivity Ratio ~50% Operating Leverage Positive STRATEGIC OUTLOOK Client Focus: Increase our relevance to our corporate clients and drive alignment of resources with the most significant revenue opportunities, to capture more of the non-lending wallet Strengthen our capital markets offering: Enhance distribution and product capabilities and deepen institutional relationships Build on our presence in the Americas: Enhance our franchise in Canada, continue to pursue targeted, phased growth in the U.S., create a top-tier local and cross-border Pacific Alliance business, and leverage Europe and Asia for distribution of our Americas product in support of our corporate clients 1 For the 3 months ended July 31, 2020; 23-5 year target from 2020 Investor Day 47#48Global Banking and Markets YEAR-OVER-YEAR HIGHLIGHTS . Net Income up 60% $MM Q3/20 Y/Y Q/Q Reported Net Income¹ $600 +60% +15% Pre-Tax, Pre Provision Profit $925 +88% +10% Revenue $1,545 +43% +6% • Expenses $620 +5% 1% PCLS $149 N/A (4%) Productivity Ratio 40.1% (1,460 bps) (210 bps) PCL Ratio² 0.50% +51 bps -4 bps PCL Ratio Impaired Loans² 0.13% +14 bps +4 bps 1 Attributable to equity holders of the Bank 2 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures 3 Refer to Non-GAAP Measures on slide 45 for adjusted results . • o Continued strong trading and investment banking revenues Revenue up 43% o Non-interest income up 57% o Net Interest income up 11% Loans grew 18% and Deposits up 46% Expenses up 5% Improved productivity ratio by 1,460 bps Positive YTD operating leverage of 26% PCL ratio² of 50 bps 1,3 ADJUSTED NET INCOME ¹³ ($MM) AND ROE³ (%) 13.8% 12.8% 14.0% 15.4% 17.5% 600 523 374 451 405 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 48#49Scotiabank in the U.S. ⚫ Wholesale bank in the US: Corporate & Investment Banking, Capital Markets, Cash Management and Trade Finance ⚫ Top 15 foreign bank organization (FBO) in the US Clients¹ >4,000 Employees¹ ~700 Offices¹ 5 Revenue¹ Average Loans¹ Average Deposits¹ $1,896 million Total NIAT¹ $777 million $43 billion $57 billion ROE1 18.7% Productivity1 46.2% . Client focus is on S&P 500, investment grade corporates ● Current sectors of strength include: Power & Utilities and Energy. Focus areas for growth include Consumer/Industrial/Retail (CIR), Technology, and Healthcare 1 As presented in the 2020 Investor Day; figures for fiscal 2019 49#50Risk Overview 50 50#51Well Provisioned • $7.4 billion in total ACLs • 56% increase ($2 billion) in performing Total ACLs ($MM) 7,403 6,079 1,958 +45% 5,273 5,145 5,095 1,717 1,749 1,663 1,607 ACLS over the past 2 quarters. 5,445 • Adequate coverage for future net write- 4,362 3,524 3,482 3,488 offs Total Impaired ACLs ($MM)1 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Performing ACLS Impaired ACLS Total Performing ACLs ($MM) 5,445 +22% 4,362 3,524 3,482 3,488 1,749 1,663 1,607 1,717 1,958 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 1 Includes allowances for credit losses on Off-Balance Sheet exposures and acceptances, debt securities and deposits with financial institutions +56% 51#52Risk Snapshot RWA Breakdown¹ ■Credit Risk Credit Exposure by Country 2,3 64% ■ Canada ■ Chile ■ U.S. Credit Exposure by Sector 1,2 Real Estate and Construction 5.9% 2% Financial Services Wholesale and Retail 5.1% 4.4% ■ C&CA 4% 11% $431B 87% ■Operational Risk $611B1 Energy 2.9% 5% Other International Other 5% 2.8% ■Mexico ■Market Risk 5% Technology and Media 2.8% 7% 8% ■ Peru Utilities 2.3% ■ Colombia Automotive 2.3% Personal & Commercial Lending Canadian Banking 1,2 International Banking1,2 Agriculture 2.3% Transportation 1.7% Food and Beverage 1.5% Mining 1.2% Health Care 1.0% 67% ■ Secured ■ Secured Hospitality and Leisure 0.9% 6% $318B 94% ■ Unsecured 33% $68B ■ Unsecured Sovereign 0.9% Forest Products 0.5% Metals 0.4% Chemicals 0.3% 1 As at July 31, 2020 2% of total loans and acceptances 3 As at October 31, 2019. 52 62#53Risk Density 40% 38% Risk density has declined over the past 5 years Major acquisitions have been successfully integrated with no adverse impact on risk density Credit RWA Density (Credit Risk-Weighted Assets/Credit Exposure at Default) 36% 34% 35.3% 32% 32.7% 30% Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 53#541.75% 1.75% 1.50% 1.25% 1.00% 0.92% 0.75% 0.50% 0.25% 0.00% 2001 2002 2003 2004 1.27% 2005 Historical PCL Ratios on Impaired Loans 1.50% 1.25% 1.00% 0.75% 0.50% 0.25% 0.00% 0.31% 0.30% 0.27% 0.28% 0.22% 0.20% 0.19% 0.23% 1.75% 1.50% 1.41% 1.25% 1.00% 0.77% 0.75% 0.50% 0.25% 0.00% 2001 2004 2005 0.44% 0.23% 0.23% 0.23% 0.25% 0.18% 2005 2006 2006 2007 2006 2007 2008 ALL BANK 1,2 0.57% 0.59% 0.47% 0.25% 0.34% 0.36% 0.32% 0.40% 0.42% 0.50% 0.45% 0.43% 0.49% 0.56% 0.24% 0.14% 0.11% 0.12% INTERNATIONAL BANKING 1.00% 0.90% 0.86% 0.75% 0.75% CANADIAN BANKING1 2013 2013 2014 2015 2016 0.37% 0.35% 0.28% 0.23% 0.18% 0.23% 0.23% 0.28% 0.29% 0.24% 0.28% 0.34% 1 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures 22002: Included $454 million related to the Bank's exposure to Argentina; 2009: Higher PCLs driven by economic conditions, event distributed across business lines. Higher general allowance and sectoral allowance (automotive related) 2014 2015 2016 2017 1.27% 1.24% 1.26% 1.21% 1.29% 1.29% 54 2018 1.44%#55Canadian Retail: Loans and Provisions' MORTGAGES AUTO LOANS 224 216 96 85 85 11 1 0 0 14 2 78 84 94 99 105 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 LINES OF CREDIT² 169 164 96 72 80 70 73 87 74 73 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 PCL as a % of avg. net loans (bps) Mortgages Loan Balances Q3/20 Spot ($B) % Secured $238 100% 1 Includes Wealth Management. PCL excludes impact of additional pessimistic scenario 2 Includes Home Equity Lines of Credit and Unsecured Lines of Credit 3 Includes Tangerine balances of $6 billion and other smaller portfolios 481% secured by real estate; 13% secured by automotive Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 CREDIT CARDS 1002 896 402 381 385 339 379 377 445 401 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 PCLs on Impaired Loans as a % of avg. net loans (bps) Auto Loans Lines of Credit² Credit Cards Total $39 100% $33 $7 $3183 63% 3% 94%4 55#56International Retail: Loans and Provisions Markets with Greater Weighting to Unsecured PERU COLOMBIA 2.5x 3.0x 447 1127 416 1242 1290 970 939 1552 545 549 372 473 471 531 471 439 402 491 424 470 395 361 455 579 542 420 406 377 1 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 MEXICO CHILE Caribbean & CA 2.6x 1.9x 2.5x3 Markets with Greater 216 570 157 300 1993 5073 550 591 556 Weighting to Secured 457 250 267 218 208 246 251. 321 279 159 155 160 191 187 178 157 141 228 231 238 203 163 148 190 231 221 150 154 175 156 165 138 170 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q2/19 Q3/19 Q4/19 Q1/201 Q2/20 Q3/20 Q2/19 Q3/19 Q4/19 Q1/201 Q2/20 Q3/20 PCL as a % of avg. net loans (bps) PCLs on Impaired Loans as a % of avg. net loans (bps) Loan Balances Q3/20 Mexico Peru Chile Colombia Caribbean & CA Total² Secured ($B) $10 $4 $20 $2 $10 $46 Unsecured ($B) $2 $6 $6 $5 $3 $22 Spot Total ($B) $12 $10 $26 $7 $13 $68 1PCL excludes impact of additional pessimistic scenario 2 Total includes other smaller portfolios 56 3 Excludes impact of divested operations#57Sectors Most Impacted by COVID-191 Canada Real Estate: Office and Retail C&CA $B %IG Total Loans ($B) 11% Mexico 55% Office REIT $1.0 69% 3% $8.5B Office Real Estate $3.3 44% 11% U.S. (1.3%) Retail REIT $1.3 97% 7% Retail Real Estate $2.9 56% Other 1% 12% Europe Total² $8.5 59% Latin America Canada Other Hospitality & Leisure 23% 9% $636.5B Energy - E&P and Oilfield Services: 1.5% Real Estate - Office and Retail: 1.3% Transportation - Air Travel: 0.5% O Hospitality & Leisure: 0.8% Total COVID-19 High Impact: 4.1% 1 Sectors which have experienced the greatest disruption in normal business activities and impact to revenue due to the COVID-19 pandemic (including, but not limited to, government-mandated closures) relative to other sectors 2 May not add due to rounding 40% U.S. $B %IG C&CA Hotels $4.2 26% $5.4B (0.8%) 16 % Cruise Lines $0.3 0% 4% Latin Gaming $0.9 1% America 8% Total² $5.4 20% Mexico Mexico Canada Latin America 18% 6% C&CA 4% 6% $3.0B Other 12% (0.5%) Transportation: Air Travel $B %IG Aircraft Finance $1.4 99% Airlines $0.4 3% Airports $1.2 76% 54% Europe Total $3.0 76% 57#58Energy - E&P and OFS Exposure¹ Total Exploration & Production (E&P) Canadian E&P* U.S. E&P Oilfield Services (OFS) Total E&P and Oilfield Services Exposure² Loans and Acceptances Outstanding ($B) 8.3 3.6 1.2 1.5 9.82 % of Total E&P and OFS % of Total Loans and Acceptances Outstanding % Investment Grade 85% 1.3% 47% 37% 0.6% 63% 12% 0.2% 15% 15% 0.2% 6% 100% 1.5% 41% *Decline in Canadian E&P Investment Grade vs. Q2 2020 related to downward rating migration of the portfolio Total Loans and Acceptances Outstanding reduced by $1.2Bn (11%) vs. Q2 · 41% is rated investment Grade. 49% of Total Energy (including Midstream and Downstream) exposure is Investment Grade • • Outlook has improved due to the recent increase in oil prices Exploration & Production Canada (49%) 4.8 C&CA (0%) Majority of non-investment grade exposure is to secured reserve- based loans or sovereign owned/controlled entities 0.2 E&P and OFS 0.4 Europe (0%) Exposure by • Oilfield Services Geography2 · Majority of non-investment grade exposure is secured. Focused on companies with stronger liquidity and balance sheets $9.8B 0.6 • ACL coverage in E&P and OFS beyond Stage 3 Added substantially to Stage 1&2 ECL in Q2 and Q3 through expert credit judgement. US exposure has material subordinated debt as a first loss tranche and is largely secured Asia (93%) (%IG) 2.5 Latin America (35%) 1.3 U.S. (13%) 1 As of July 31, 2020. Excludes Midstream and Downstream 2 May not add due to rounding 58#59Treasury and Funding 59 59#60COVID-19 Response Maintained elevated liquidity and access to funding markets • Maintained elevated levels of liquidity, well in excess of regulatory requirements • o LCR of 141%, +9% Q/Q and +18% Y/Y o Pacific Alliance countries ended Q3 with LCRs of 160-180% o HQLA of $227B, +$40B Q/Q and +$67B Y/Y, is substantially comprised of Level 1 assets Reduced wholesale funding and market sourced funding utilizing excess liquidity o Discontinued incremental participation in central bank funding programs o Deposit growth reduced need for wholesale funding • Q3 term issuance activity included TLAC and covered bond issues o $1.7B of bail-inable senior and $0.6B of bail-inable structured notes to support TLAC build 。 US$ 1.25B Fixed Rate Resetting Perpetual Subordinated Additional Tier 1 Capital notes o Self-issued $7.5B of covered bonds to be available to pledge to the Bank of Canada term repo facility 60#61Funding Strategy Diversified funding sources • Increase contribution from customer deposits Continue to reduce wholesale funding utilization while building TLAC Maintain balance between efficiency, stability of funding and pricing relative to peers Diversify funding by type, currency, program, tenor and source/market Utilize a centralized (head office managed) funding and associated risk management approach 1 In addition to the programs listed, there are also CD programs in the following currencies: Yankee/USD, EUR, GBP, AUD, HKD Funding Programs¹ US Debt & Equity Shelf (senior/subordinated debt, preferred and common shares) Limit USD 40 billion Global Registered Covered Bond Program (uninsured Canadian mortgages) Limit CAD 100 billion EMTN Shelf Limit USD 20 billion CAD Debt & Equity Shelf (senior/subordinated debt, preferred and common shares) Limit CAD 15 billion START ABS program (indirect auto loans) Limit CAD 15 billion Australian MTN program Limit AUD 8 billion Singapore MTN program Limit - USD 7.5 billion Halifax ABS shelf (unsecured lines of credit) Limit - CAD 7 billion Principal at Risk (PAR) Note shelf Limit CAD 6 billion Trillium ABS shelf (credit cards) Limit CAD 5 billion USD Bank CP Program Limit USD 35 billion 61#62Wholesale Funding Wholesale funding diversity by instrument and maturity1,6,7 12% 26% Senior Notes Bail-inable Notes 2% Asset-Backed Commercial Paper³ 2% 27% Bearer Deposit Notes, Commercial Paper & Short-Term Certificate of Deposits $221B 1% Asset-Backed Securities -14% Covered Bonds -12% Mortgage Securitization4 -4% Subordinated Debt5 Deposits from Banks² TERM FUNDING MATURITY TABLE (EXCLUDING SUB DEBT AND MORTGAGE SECURITIZATION) (CANADIAN DOLLAR EQUIVALENT, $B) $25 3 3 199 $20 8 1 == 11 $28 7 $22 4 $13 $11 5 20 4 18 8 8 < 1 Year 2 Years 3 Years 4 Years 5 Years 5 Years > Senior Debt ABS Covered Bonds 1 Excludes repo transactions and bankers acceptances, which are disclosed in the contractual maturities table in the MD&A of the Interim Consolidated Financial Statements. Amounts are based on remaining term to maturity. 2 Only includes commercial bank deposits raised by Group Treasury. 3 Excludes asset-backed commercial paper (ABCP) issued by certain ABCP conduits that are not consolidated for financial reporting purposes. 4 Represents residential mortgages funded through Canadian Federal Government agency sponsored programs. Funding accessed through such programs does not impact the funding capacity of the Bank in its own name. 5 Although subordinated debentures are a component of regulatory capital, they are included in this table in accordance with EDTF recommended disclosures. 6 As per Wholesale Funding Sources Table in MD&A, as of Q3/20. 7 May not add to 100% due to rounding. 62 62#63Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 BUSINESS & GOVERNMENT DEPOSITS1 (SPOT, CANADIAN DOLLAR EQUIVALENT, $B) Deposit Overview Strong growth in personal & business and government deposits PERSONAL DEPOSITS (SPOT, CANADIAN DOLLAR EQUIVALENT, $B) $244 $222 $223 $224 $198 $201 $211 $225 $225 $235 $200 $215 $204 PERSONAL DEPOSITS • All Q/Q growth from Canada • 3Y CAGR 7.1% • Impacted by liquidity injected into the system by central banks and government relief programs Important for both relationship purposes and regulatory value $179 $172 $170 $197 $174 $... Q2/19 Q3/19 $197 $211 $221 $223 $227 $263 3Y CAGR 16.4% Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 1 Calculated as business & government deposits less wholesale funding as per Wholesale Funding Sources table in the MD&A, adjusted for Sub Debt Q4/19 Q1/20 Q2/20 Q3/20 $270 • • BUSINESS & GOVERNMENT Continuing to leverage relationships to grow deposits Focusing on operational, regulatory friendly deposits Impact from government relief programs 63 83#64Q3/17 Q4/17 Q1/18 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Wholesale Funding Utilization Declining reliance on wholesale funding, particularly short-term WHOLESALE FUNDING / TOTAL ASSETS 24.2% 23.7% 23.1% 18.9% REDUCTION IN WHOLESALE FUNDING DRIVEN BY SYSTEM LIQUIDITY Ended incremental participation in central bank wholesale funding programs as system liquidity drove deposit growth o Continued access to term senior and capital wholesale funding markets Q2/19 MONEY MARKET WHOLESALE FUNDING / TOTAL WHOLESALE FUNDING 37.4% 35.6% 39.7% Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 29.8% Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 REDUCTION IN MONEY MARKET FUNDING Absorbing central bank system liquidity via lower short term funding balances o Primarily driven by lower certificate of deposits 64#65Liquidity Metrics Well funded Bank with very strong liquidity • ⚫ Liquidity Coverage Ratio (LCR) 。 Maintained elevated levels of liquidity, well in excess of regulatory requirements 。 Supported by central bank liquidity related to pandemic response o LCR of 150-200% in Pacific Alliance countries 141% 132% 128% 125% 124% 125% 123% 125% 127% Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 • High Quality Liquid Assets (HQLA) 。 Substantially comprised of Level 1 assets 。 Strong growth: +$40B Q/Q and +$67B Y/Y $227 $188 $158 $158 $160 $165 $168 $138 $144 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 65#66Appendix 1 Core Markets: Economic Profiles#67% OF GDP Canadian Economy Diverse sources of growth with a strong balance sheet 22.4% Finance, Insurance, & Real Estate 14.4% Other 3.6% Transportation & Warehousing 6.4% Professional, Scientific, & Technical Services 7.2% CANADIAN GDP BY INDUSTRY (May 2020) Public Administration -12.0% Health & Education 7.3% 10.1% Wholesale & Retail Trade 8.9% Manufacturing 7.6% Mining and Oil & Gas Extraction Construction REAL GDP GROWTH 3 ~ ANNUAL % CHANGE C U.S. Canada Eurozone U.K. Japan 2010-2018 2019-2021f Sources: Scotiabank Economics, Haver Analytics, Statistics Canada. Forecasts as of August 4, 2020. GENERAL GOVERNMENT NET DEBT GOVERNMENT FINANCIAL DEFICITS 0 -5 (10.7) -10 168.9 (12.7) (12.7) (13.6) (14.7) 142.7 (15.9) -15 (16.6) 106.7 107.0 94.2 85.9 -20 49.0 49.2 % OF GDP (23.8) -25 GE UK IT FR JN CA* Adv. US ST Canada Germany U.K. OECD France U.S. Italy Japan Econ. * Canadian government net debt obtained from Scotiabank Economics' Federal Economic and Fiscal Snapshot (July 8, 2020). * Canadian federal deficit reflects Scotiabank Economics' forecast as of Aug. 4, 2020. Sources: Scotiabank Economics, IMF WEO (June 2020 estimates), CBO. 67 Sources: Scotiabank Economics, IMF Fiscal Monitor (April 2020).#68Mexican Economy Diverse economy • The Mexican economy reflects a solid mix of commodities, goods production, and services Trade remains dominated by the U.S., but Mexico's diversification agenda is underpinned by 13 free-trade agreements with 47 countries that account for 40% of global GDP and include all G7 countries y/y % change Contributions to Mexican GDP Growth 16.3% Finance, Insurance, & Real Estate 16.0% Other 3.3% Natural Resources 6.5% Transportation & Warehousing 5.9% Health & Education MEXICAN GDP BY INDUSTRY* (Q1 2020) 17.4% Wholesale & Retail Trade 15.7% Manufacturing 6.4% Mining and Oil & Gas Extraction 6.5% Construction 1.9%/ Professional, Scientific, & Technical Services 4.1% Public Administration * Q2-2020 real GDP growth -18.9% y/y. Industry GDP breakdown not yet available for Q2-2020. Top 5 Trading Partners* 1 -4 65432-0T 2 3 4 5 -1 -2 -3 Other* Investment -5 17 Real GDP 18 Net Exports Government *Statistical discrepancy, subject to revision. Sources: Scotiabank Economics, Haver Analytics. 19 Inventories Consumption 20 Germany 3% South Korea 3%| Canada 4% China 10% Others 21% United States 60% * Trade data updated as of Q1-2020 68#69Peruvian Economy Resilient economic fundamentals Peru's important resource sectors are increasingly balanced by stronger service-sector activity and solid economic fundamentals Peru has 16 free-trade agreements with 49 countries that account for 66% of global GDP Investment is making a consistently strong contribution to GDP, which should make solid growth rates more sustainable in the future 11.5% Manufacturing 10.4% Wholesale and Retail Trade PERUVIAN GDP BY INDUSTRY (Q12020) 12.7% Mining, Oil, & Gas 4.7% Construction 2.0% Electricity & Water Contributions to Peruvian GDP Growth 8 y/y % change 6 4 2 0 -2 Net Exports -4 -6 Investment Consumption -8 17 18 19 Sources: Scotiabank Economics, Haver Analytics. Inventories Government Real GDP 20 53.0%- Other Top 5 Trading Partners* Others 43% China 28% 5.8% Natural Resources United States 16% Canada 4% 4% Brazil South Korea 5% * Trade data updated as of Q1-2020 69#70Chilean Economy Advanced economy with wide-ranging trade links • Chile's mix of economic activities reflects its status as an advanced market economy Chile's diversified trading relationships are supported by 23 free-trade agreements with 60 countries that account for 73% of global GDP Investment has been a strong contributor to growth in Chile, which should underpin future productivity gains as the economy rebounds from recent social difficulties 8 y/y % change 6 Contributions to Chilean GDP Growth 15.6% Finance, Insurance, & Real Estate 8.6% Other 1.8% Restaurants & Hotels 8.2% Transportation & Warehousing 3.3% Natural Resources CHILEAN GDP BY INDUSTRY (Q12020) 19.2% Housing & Personal Services 9.0% Wholesale & Retail Trade 10.3% Manufacturing 12.7% Mining and Oil & Gas Extraction 6.6% Construction 4.7% Public Administration Top 5 Trading Partners* 4 2 0 -2 -4 -6 17 Net Exports Investment Consumption 18 Sources: Scotiabank Economics, Haver Analytics. Inventories Government Real GDP 19 20 20 Others 36% China 31% South Korea 3% United States Brazil 6% Japan 17% 6% 70 * Trade data updated as of Q1-2020 0#71Colombian Economy Strong underlying momentum Services account for a rising share of Colombian GDP compared with traditional strengths in extractive industries Colombia continues to build on its 11 free-trade agreements with 46 countries that account for 41% of global GDP Rising consumption, supported by public spending, reflects an expanding middle class as growth gains momentum and converges toward the economy's underlying potential Contributions to Colombian GDP Growth 13.9% Finance, Insurance, & Real Estate 9.1% Other 6.6% Natural Resources 2.9% Information & Communication 2.4% Arts & Entertainment COLOMBIAN GDP BY INDUSTRY (Q1 2020) 7.1% Professional, Scientific, & Technical Services 17.2% Wholesale, Retail Trade, Accommodation & Food Services 15.2% 11.6% Manufacturing 8.0% Mining and Oil & Gas Extraction 6.0% Construction Public Administration Top 5 Trading Partners* 8 Other* y/y % change Government 6 4 2 0 -2 Net Exports Consumption Investment Real GDP -4 17 18 19 20 *Statistical discrepancy, subject to revision. Sources: Scotiabank Economics, Haver Analytics. United States Others 42% 28% Germany 3% China 18% Brazil Mexico 5% 6% * Trade data updated as of Q1-2020 71#72Appendix 2 Canadian Housing Market#73Canada: Strong Post-COVID Rebound Though pandemic has caused widespread damage 4,000 CAD monthly 3,000 2,000 1,000 Core Expenses Across Households total core expenses core expenses with mortgage deferral unemployment benefit 0 Bottom Middle Top Bottom Mortgage holder Middle Renter Top Sources: Scotiabank Economics, Bank of Canada. . COVID-19 led to sharp drop in economic activity in 1H20 Massive government support set the stage for a sharp rebound in the economy in 2H20 as economy re-opened. Population growth remains a key differentiator in Canada relative to other countries The Lasting Impact of COVID-19 on Canadian GDP Canada Real Retail Sales 105 Feb 2020=100 100 110 Index, 2019Q4 = 100 105 100 January 13 forecast 95 90 95 90 85 00 80 85 Current forecast 75 80 70 75 65 70 60 19Q4 20Q1 20Q2 20Q3 20Q4 21Q1 21Q2 21Q3 21Q4 Jun-19 Sep-19 Dec-19 Mar-20 Jun-20 Sources: Scotiabank Economics, Statistics Canada. Source: Scotiabank Economics. 73#74Population Growth: A Canadian Differentiator G7 Population Growth 1.8 annual % change Canada 1.6 1.4 1.2 1.0 0.8 0.6 0.4 0.2 0.0 -0.2 United States ⚫⚫ Euro Area United Kingdom Japan -0.4 08 09 10 11 12 13 14 15 Sources: Scotiabank Economics. 16 16 17 18 19 20 20 74#75Canadian Housing Market Strength Strong demand continues to confront insufficient supply Housing Market is Historically Undersupplied 90 0.9 Ratio of total home completions on 18-month rolling basis relative to population change 0.8 0.7 mm 1982-pres. avg. 0.6 0.5 0.4 0.3 84 87 90 93 96 99 02 05 08 11 14 17 20 Sources: Scotiabank Economics, Statistics Canada. Canada's Five Largest Metropolitan Areas* 13 MLS Home Price Index Benchmark 11 Price Y/Y Percentage Change 11.81 9 7 8.18 5 Average 3.72 3 3.46 1 -1 80 70 60 60 50 40 40 Listings Falling More Rapidly than Sales sa sales-to-new listings ratio, % Sellers' Market Buyers' Market 30 30 04 06 08 10 12 14 16 18 20 Sources: Scotiabank Economics, CREA. Policy Support Providing Large Assistance to Households 2.5 % 2.0 1.5 1.0 -2.83 -2.03 0.5 0.0 Edmonton 20 -5 -3 35 GTA GVA Montreal Calgary Sources: Scotiabank Economics, CREA. Data reflects June 2020 *Actual - not seasonally adjusted; Hypothetical arrears rate on mortgages simulated by BoC for 19% fall in GDP in 2020 Arrears without existing household support measures Arrears with existing support measures 21 22 Sources: Scotiabank Economics, Bank of Canada Financial System Review. 75#76Canadian Consumer Indebtedness Total household credit grew at 3.1% in annual nominal terms in Q2/20 vs the 2008 peak of 12.2% annually • Consumer loans excluding mortgages (i.e., cards, HELOCS, unsecured lines, auto loans, etc.) fell by 3.0% annually in Q2/20 vs growth of >5% in late 2017 Mortgage credit grew at 5.6% annually in Q2/20 vs 2008 peak of 13%. Lower five-year rates are driving a rebound in the pace of growth, as is strength of underlying demand HOUSEHOLD CREDIT GROWTH CONSUMER LOAN GROWTH RESIDENTIAL MORTGAGE GROWTH 25 [%, 3-month moving average 20 15 y/y % change 10 110 5 m/m% change, SA 0 -5 00 02 04 06 08 10 12 14 16 18 20 Sources: Scotiabank Economics, Bank of Canada. 22 25 %, 3-month moving average 25 %, 3-month moving average 20 15 20 y/y% change 10 15 y/y % change 5 m/m% change, SA 5 0 10 -5 -10 m/m% change, SA -15 -20 -25 -5 00 02 04 06 08 10 12 14 16 18 20 Sources: Scotiabank Economics, Bank of Canada. 00 02 04 06 08 10 12 14 16 18 20 Sources: Scotiabank Economics, Bank of Canada. 76#77Housing Market Differences vs U.S. Canada's housing market features distinct practices and policies Regulation and Taxation Product Underwriting Canada Mortgage interest not tax-deductible Full recourse against borrowers in most provinces Foreclosure on non-performing mortgages, no stay periods Insurance • Mandatory default insurance mortgages with LTV > 80% 。 CMHC backed by Government of Canada (AAA). Private insurers are 90% government backed ○ Insurance available for homes up to CAD 1MM o Premium is payable upfront Covers full amount for life of mortgage Homebuyers must qualify for mortgage insurance at interest rate equal to greater of five-year average posted mortgage rate or actual mortgage rate plus 200 bps Re-financing cap of 80% LTV on non-insured mortgages Amortization Maximum 25-year amortization on mortgages with LTV > 80% Maximum 30-year amortization on conventional mortgages Down payment of > 20% required for non-owner occupied properties Conservative product offerings, fixed or variable rate options Much less reliance upon securitization and wholesale funding Asset-backed securities not subjected to US-style off-balance sheet leverage via special purpose vehicles • Terms usually three or five years, renewable at maturity Extensive documentation and strong standards U.S. • Tax-deductible mortgage interest creates incentive to borrow and delay repayment Lenders have limited recourse in most states • 90-day to 1-year stay period to foreclose on non-performing mortgages • No regulatory LTV limit Private insurers are not government backed Can include exotic products (e.g. adjustable rate mortgages, interest only) 30-year term most common Wide range of documentation and underwriting requirements 77#78Housing Policy Developments in Canada Consistent policy initiatives to maintain a balanced and sustainable market 2016 2017 2018 2019 Canada: Qualifying stress rate for all new mortgage insurance must be the greater of the contract mortgage rate or the Bank of Canada's conventional five-year fixed posted rate • Low-ratio mortgage insurance eligibility requirements updated for lenders wishing to use portfolio insurance: • o Maximum amortization 25 years o C$1MM max. purchase price Minimum credit score of 600 o Owner-occupied property Elimination of primary residence tax exemption for foreign buyers • Min. down payment on insured increased from 5% to 10% (for homes C$0.5-$1.0MM) British Columbia: 15% land transfer tax on non-resident purchases in Metro Vancouver introduced Ontario: 16 measures aimed to slow rate of house price appreciation Key aspects include: o 15% non-resident speculation tax o Expanded rent control to all private rental units in Ontario 。 Vacant home tax C$125MM five-year program to encourage construction of new rental apartment buildings . Canada: OSFI imposes more stringent stress tests for uninsured mortgages, including a minimum qualifying rate at the greater of the five-year fixed posted rate or the contractual rate plus 200 bps, effective January 1, 2018 Ontario: Elimination of rent control on new rental units first occupied on or before November 1, 2018 British Columbia: Extension of the Property Transfer Tax on non-resident buyers. Investment of more than C$1.6B through FY2021 toward the goal of building 114,000 affordable housing units in the next 10 years • British Columbia: Increase in speculation tax on foreign and domestic homeowners who do not pay income tax in BC from 0.5% of a property's assessed value to 2%; additional school tax levied on portion of a property's value that exceeds C$3MM Ontario: Measures to increase supply of available housing Key aspects include: 。 Greater authority over land use planning decisions for the province's independent municipal dispute resolution body Reduced red tape on new residential developments Updated zoning regulations to facilitate building of affordable homes near transit 78#79Appendix 3 Additional Information#80Acquisition & Divestiture Activity (2018-2020) Increasing Scale in Core P&C Markets and Wealth Management Citi Colombia Banco Dominicano del Progreso 6% BBVA Chile 39% 5% Cencosud Peru 2% Wealth Management 48% MD Financial ACQUISITIONS: $7.5B 35% International P&C 52% Jarislowsky Fraser 13% Caribbean (Leeward Islands) Pension & Benefits Administration 1% El Salvador 9% Puerto Rico & 10% DIVESTITURES: $5.8B Thanachart Bank Thailand 56% USVI 24% 80 60#81Medium-Term Financial Objectives All-Bank Objectives¹ EPS Growth 7%+ ROE 14%+ Operating Leverage 13-5 year targets from 2020 Investor Day Positive Capital Strong Levels 81#82Additional Information Scotiabank Listings: Toronto Stock Exchange (TSX: BNS) New York Stock Exchange (NYSE: BNS) Scotiabank Common Share Issue Information: • CUSIP: 064149107 CA0641491075 • . ISIN: FIGI: NAICS: BBGOOOBXSXH3 522110 Scotiabank Credit Ratings Moody's Investors Standard & Poor's Fitch Ratings Services Dominion Bond Rating Service Ltd. Aa2 A+ AA Legacy Senior Debt¹ AA Senior Debt² A2 A- AA- AA (low) Subordinated Debt (NVCC) Baa1 BBB+ A (low) Short Term Deposits/Commercial Paper P-1 A-1 F1+ R-1 (high) Covered Bond Program Aaa Not Rated AAA AAA Outlook Stable Stable Negative Stable 1Includes: (a) Senior debt issued prior to September 23, 2018; and (b) Senior debt issued on or after September 23, 2018 which is excluded from the bank recapitalization "bail-in" regime 2 Subject to conversion under the bank recapitalization "bail-in" regime 82 62#83Contact Information Investor Relations Philip Smith Senior Vice President 416-863-2866 [email protected] Tiffany Sun Manager 416-866-2870 [email protected] Judy Lai Director 416-775-0485 [email protected] Funding Tom McGuire Executive Vice President & Group Treasurer 416-860-1688 [email protected] Christy Bunker SVP, CB Treasury, Term Funding and Capital management 416-933-7974 [email protected] Mark Michalski Director, Strategy & Market Development, Funding 416-866-6905 [email protected] 83