#1INVESTOR PRESENTATION THIRD QUARTER 2019 August 27, 2019 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 2018 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; 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 2018 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 2018 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. Scotiabank. | 2#3SCOTIABANK OVERVIEW Brian Porter President & Chief Executive Officer Scotiabank. 3#4Q3 2019 OVERVIEW Repositioning of geographic footprint substantially complete Acquisitions are tracking ahead of previous estimates Solid operating performance ○ Adjusted¹ net income of $2.5 billion, up 9% 。 Adjusted¹ diluted EPS of $1.88, up 7% 。 Adjusted¹ ROE of 14.3% 。 Strong asset and deposit growth across all business segments 。 Good expense management and productivity ratio improvement Quarterly dividend increase of 3 cents to $0.90; up 6% Y/Y Capital position remains strong 。 CET1 ratio of 11.2% 。 Pro-forma increase of ~50 bps from announced divestitures 1 Figures adjusted for Acquisition and divestiture-related amounts, including Day1 PCL impact on acquired performing loans, integration and amortization costs related to current acquisitions, amortization of intangibles related to current and past acquisitions and losses/(gains) on divestitures and related costs Scotiabank. | 4#5FINANCIAL REVIEW Raj Viswanathan Chief Financial Officer Scotiabank® 5#6Q3 2019 FINANCIAL PERFORMANCE Strong revenue and balance sheet growth $MM, except EPS Q3/19 Y/Y Q/Q Reported Net Income $1,984 +2% (12%) • Diluted EPS $1.50 (3%) (13%) · Revenue $7,659 +7% (2%) YEAR-OVER-YEAR HIGHLIGHTS Adjusted Net Income up 9%² Diluted EPS up 7%² Expenses $4,209 +12% +4% . Revenue up 11%² Productivity Ratio 55.0% +250bps +320bps Core Banking Margin 2.45% (1bp) PCL Ratio1 48bps (21bps) (13bps) PCL Ratio on Impaired Loans1 52bps +11bps +3bps Adjusted² Net Income $2,455 +9% +8% Diluted EPS $1.88 +7% +11% Revenue $7,965 +11% +4% Expenses $4,122 +11% +3% Productivity Ratio 51.7% (10bps) (60bps) • PCL Ratio¹ 48bps +8bps (3bps) 。 Excluding acquisitions and IFRS15, revenue was up 5% 。 Net interest income up 7% 。 Non-interest income up 16% Expenses up 11% 2 。 Mostly driven by acquisitions o Excluding acquisitions and the impact of IFRS15, expenses were up 4% Total PCL ratio increased by 8 bps o Impaired PCL ratio was up 11 bps DIVIDENDS PER COMMON SHARE 0.03 0.02 0.03 0.85 0.85 0.87 0.87 0.82 Q3/18 Q4/18 ■ Announced Dividend Increase Q1/19 Q2/19 Q3/19 1 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures 2 Adjusted for Acquisition and divestiture-related amounts, including Day1 PCL impact on performing loans, integration and amortization costs related to current acquisitions, amortization of intangibles related to current and past acquisitions and losses/(gains) on divestitures and related costs Scotiabank. | 6#7CAPITAL POSITION REMAINS STRONG CET1 ratio increased by 10 basis points in Q3/19 11.7% ~50 bps +33 bps -17 bps -4 bps -9 bps 11.2% -2 bps +3 bps 11.1% | Q2/19 Earnings Less Dividends RWA Impact (ex. FX) Share Buybacks Pension (Net of Issuances) Re-Measurement Puerto Rico Q3 Impact Other Including FX Q3/19 Reported Impact of Announced Divestitures Q3/19 Pro-Forma Internal Generation • Strong internal capital generation of 16 basis points • Repurchased 2.8 million common shares in Q3/19; 10 million shares fiscal 2019 YTD Q3/19 pro-forma CET1 ratio of 11.7% including announced divestitures Scotiabank. | 7#8CANADIAN BANKING Margin expansion, strong deposit growth, and expense management; Strong Wealth results. FINANCIAL PERFORMANCE AND METRICS ($MM)¹ Y/Y Q/Q YEAR-OVER-YEAR HIGHLIGHTS Q3/19 Reported Net Income $1,160 +3% +11% Revenue $3,532 +5% +5% Productivity Ratio Net Interest Margin PCL Ratio² PCL Ratio on Impaired Loans² Adjusted³ Expenses PCLS $240 48.8% 2.49% $1,723 +4% +1% +33% (5%) (40bps) (180bps) 0.27% 0.29% +3bps +3bps +6bps (3bps) +8bps +1bp $1,174 +3% +4% +11% +1% • Net Income Expenses $1,705 Productivity Ratio 48.3% (50bps) (170bps) ADJUSTED NET INCOME ¹³ ($MM) AND NIM (%) 2.46% 2.45% 1,3 2.44% 2.46% 2.49% • • 1,141 1,146 1,089 1,062 1,174 • Q3/18 Q4/18 1 Attributable to equity holders of the Bank Q1/19 Q2/19 2 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures Q3/19 Adjusted Net Income up 3%³ 。 Lower real estate gains reduced net income by 2% 。 Margin expansion o Higher PCLS 。 Wealth Management results up 20% Revenue up 5% 。 Net interest income up 5% 。 Excluding M&A and IFRS 15, revenue was up 3% Loan growth of 4% o Residential mortgages up 3%; credit cards up 7% o Business loans up 10% Deposit growth of 10% o Personal up 7%; Non-Personal up 17% NIM up 3 bps o Primarily driven by the impact of prior rate increases Expenses up 4%³ 。 Investments in technology and regulatory initiatives 。 Excluding M&A and IFRS15, expenses were up 1% Quarterly operating leverage of +1.1%³ PCL ratio² up 6 bps to 27 bps 3 Adjusted for Acquisition-related costs, including integration and amortization costs related to current acquisitions, and amortization of intangibles related to current and past acquisitions Scotiabank. | 8#9INTERNATIONAL BANKING Strong double-digit earnings growth FINANCIAL PERFORMANCE AND METRICS ($MM) 1, 2 Q3/19 Y/Y Q/Q • Reported Net Income $781 +40% 13% Revenue $3,427 Expenses +20% 3% $1,780 +19% 6% PCLS $476 (35%) (23%) • Productivity Ratio 51.9% (100bps) +90bps Net Interest Margin 4.45% (25bps) (13bps) PCL Ratio³ 1.24% (134bps) (47bps) PCL Ratio on Impaired Loans³ Adjusted5 1.36% +3bps +7bps YEAR-OVER-YEAR HIGHLIGHTS2 Adjusted Net Income up 14% or 11% on a constant currency basis Strong loan growth across the Pacific Alliance, positive impact of acquisitions, and higher non-interest income Revenues up 20% o Pacific Alliance up 26% (including acquisitions) Loans up 28% o Pacific Alliance up 41% (including acquisitions) Net Income $815 +11% +5% . NIM down 25 bps Expenses $1,725 PCLS $476 Productivity Ratio 50.3% PCL Ratio³ 1.24% +18% +33% +2% (140bps) +30bps +1bp +4% • (6bps) ADJUSTED NET INCOME 165 ($MM) AND NIM4 (%) 4.70% 4.52% 4.52% 4.58% 4.45% . . 746 805 787 815 715 。 Primarily driven by larger contribution from Chile and margin compression in Mexico Expenses up 18%5 o Includes impact of acquisitions 。 Business volume growth and inflation 。 Productivity ratio improvement of 140 bps5 Quarterly operating leverage of +3.2%5 PCL ratio on impaired loans³ increased 3 bps Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 1 Attributable to equity holders of the Bank 2 Y/Y and Q/Q growth rates (%) are on a constant dollars basis, while metrics and change in bps are on a reported basis 3 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures 4 Net Interest Margin is on a reported basis 5 Adjusted for Acquisition-related costs, including Day 1 PCL impact on acquired performing loans, integration and amortization costs related to current acquisitions, and amortization of intangibles related to current and past acquisitions Scotiabank. | 9#10GLOBAL BANKING AND MARKETS Volatile market conditions, margin compression. Strong loan growth. FINANCIAL PERFORMANCE AND METRICS ($MM) YEAR-OVER-YEAR HIGHLIGHTS Q3/19 Y/Y Q/Q . Net Income $374 (15%) (11%) Revenue $1,084 (2%) (6%) • Expenses $593 +9% PCLS ($4) N/A N/A Productivity Ratio 54.7% +580bps +310bps Net Interest Margin PCL Ratio² 1.61% (21bps) (9bps) (0.01%) +4bps +1bp • PCL Ratio on Impaired Loans² (0.01%) +5bps +1bp NET INCOME AND ROE 15.6% 15.3% 15.2% 12.8% 11.5% • Net Income down 15% Y/Y and down 11% Q/Q Revenue down 2% 。 Net interest income down 8% o Non-interest income flat NIM down 21 bps o Lower deposit margins Loans up 12% o Strong corporate loan growth across Canada and the U.S. Expenses up 9% • Expenses flat Q/Q 。 Higher regulatory costs and unfavourable impact of foreign currency PCL ratio² continues to be a recovery 441 416 420 374 335 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 1 Attributable to equity holders of the Bank 2 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures Scotiabank. | 10#11OTHER SEGMENT 1 ADJUSTED NET INCOME², 3 ($MM) -54 -64 -107 -121 -33 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 1 Represents smaller operating segments including Group Treasury and corporate adjustments 2 Attributable to equity holders of the Bank 3 Adjusted for divestiture-related losses/(gains) and related expenses YEAR-OVER-YEAR HIGHLIGHTS • • Higher investment gains and lower taxes Partly offset by lower contributions from asset/liability management activities and higher expenses QUARTER-OVER-QUARTER HIGHLIGHTS • Higher investment gains Higher contributions from asset/liability management activities Scotiabank. | 11#12RISK REVIEW Daniel Moore Chief Risk Officer Scotiabank. 12#13PCL RATIOS Strong credit quality; PCLS on impaired loans reflect International Banking acquisitions TOTAL PCLS ($MM) AND PCL RATIO¹ 47 bps 40 bps 39 bps YEAR-OVER-YEAR HIGHLIGHTS 48 bps 51 bps • 722 713 688 590 539 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Total PCL ratio 2.00% Total PCLS ($MM) HISTORICAL PCL RATIO ON IMPAIRED LOANS1 Total PCL ratio1, 2 was 48 bps, down 3 bps Q/Q, but up 8 bps Y/Y 。 PCL on impaired loans¹ of $776 million up 11% Q/Q, and 39% Y/Y primarily due to volume growth and acquisitions in International Banking o PCL on performing loans 1,2 of -$63 million down $85 million Q/Q and down $43 million Y/Y due to more favourable macro-economic trends (FLI) in International Banking and improving credit quality PCL ratio on impaired loans¹ of 52 bps reflecting the impact of acquisitions in International Banking 1.50% 1.00% 0.50% 0.00% ttttt 1990 1991 1992 1993 1994 1995 1996 1997 1 Provision for credit losses on certain assets-loans, acceptances and off-balance sheet exposures 2 Excludes acquisition-related costs including Day 1 impact on acquired performing loans PCL Ratio on Impaired Loans 2002: Included $454 million related to the Bank's exposure to Argentina 2009: Higher PCLs driven by economic conditions, event distributed across business lines. Higher general allowance and sectoral allowance (automotive related) 2003 2004 2005 2009 2010 2011 2012 2013 Historical Average - PCL Ratio on Impaired Loans Historical Average: 46 bps 2014 2015 2016 2017 2018 2019 YTD Scotiabank. | 13#14PCL RATIOS Credit fundamentals remain strong Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 (As a % of Average Net Loans & PCLs on Total PCLs on PCLs on PCLs on Total PCLs on Total Total Total Impaired PCLS Impaired Impaired PCLS PCLS Acceptances) Loans (adj.) Loans Loans Impaired PCLs Impaired Loans (adj.) Loans PCLS Canadian Banking Retail 0.25 0.24 0.25 0.25 0.28 0.28 0.31 0.35 0.33 0.30 Commercial (0.04) 0.06 0.06 0.15 0.21 0.231 0.09 0.061 0.10 0.161 Total 0.21 0.21 0.22 0.23 0.27 0.271 0.28 0.301 0.29 0.271 International Banking Retail 2.36 2.252 2.38 2.21 2.33 2.36 2.36 2.352 2.48 2.28 Commercial 0.38 0.312 0.07 (0.06)1 0.19 0.261 0.27 0.301,2 0.30 0.261 Total 1.33 1.232 1.20 1.051 1.23 1.281 1.29 1.301,2 1.36 1.241 Global Banking and Markets (0.06) (0.05) (0.07) All Bank 0.41 0.40 0.42 (0.09)1 0.39 (0.01) 0.47 (0.07) (0.02) 0.47 0.49 0.52 (0.02) (0.01) (0.01) 0.51 0.48 1 Excludes provision for credit losses on debt securities and deposit with banks 2 On an adjusted basis; adjusted for Day 1 PCLS from acquisitions Scotiabank. | 14#15GILS & NET WRITE-OFF RATIOS Improving GILs ratio and stable write-off ratio GILS ($B) and GILS RATIO1, 2 95 bps 89 bps 90 bps 89 bps 86 bps 5.3 5.3 5.4 5.2 5.1 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 GILS GILs ratio NET WRITE-OFFS ($MM) AND NET WRITE-OFFS RATIO³, 4 YEAR-OVER-YEAR HIGHLIGHTS GILS1 were down 3% Q/Q and 5% Y/Y primarily due to the impact of foreign currency translation o Improving GIL ratio trend Net write-offs³ were up 4% Q/Q and up 40% Y/Y ○ Higher net write-offs in International Banking and Canadian Banking compared to last year ○ Stable net write-off ratio 50 bps 50 bps 50 bps 45 bps 39 bps 732 716 745 635 534 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Net write-offs ratio Net write-offs 1 Excludes impact of acquisitions (Q3/18: $233 million, Q2/19: $18 million) 2 As a percentage of period end loans and acceptances 3 Net write-offs are net of recoveries 4 As a percentage of average loans and acceptances Scotiabank. 15#16APPENDIX Scotiabank® 16#17NET INCOME AND ADJUSTED DILUTED EPS RECONCILIATION Net Income ($MM) and EPS ($ per share) Q3/18 Q2/19 Q3/19 Net Income attributable to common $1,956 $2,125 $1,839 shareholders Dilutive impact of share-based payment options and others ($39) $37 $40 Net Income attributable to common $1,917 $2,162 $1,879 shareholders (diluted) • Quarterly diluted common shares outstanding may be impacted by dilution on sold put options relating to the following legal entities: Colpatria • Colfondos Weighted average number of common 1,223 1,224 1,221 • BBVA Chile shares outstanding • Dilutive impact of share-based 1 17 28 30 payment options and others Weighted average number of diluted (2) 1,240 1,252 1,251 common shares outstanding 3 Reported Basic EPS $1.60 $1.74 $1.51 Canadian Tire Financial Services Impact on diluted EPS remains stable Primarily related to the $402 million loss recorded on the Puerto Rico divestiture announced this quarter Dilutive impact of share-based $0.05) ($0.01) payment options and others ($0.01) Reported Diluted EPS $1.55 $1.73 $1.50 Impact of Acquisition-related 3 $0.21 ($0.03) $0.38 costs on diluted earnings per share1 Adjusted Diluted EPS $1.76 $1.70 $1.88 1 Adjusted for Acquisition and divestiture-related amounts, including Day1 PCL impact on performing loans, integration and amortization costs related to current acquisitions, amortization of intangibles related to current and past acquisitions and losses/(gains) on divestitures and related costs Scotiabank. 17#18SUMMARY OF ADJUSTING ITEMS Adjusting items increased reported diluted EPS by $0.38 in Q3/19 Q3/18 Q2/19 Q3/19 Adjusting Items (Pre-Tax) ($MM) Acquisition-Related Costs Day 1 PCL on acquired performing financial instruments 404 151 - International Banking Integration Costs 26 Canadian Banking Canadian Banking ex. Wealth International Banking 1 Amortization of Intangibles Canadian Banking Canadian Banking ex. Wealth International Banking 2322257 - 28 12 11 5262076+ 19 39 30 14 14 2433756 14 16 Other Net Loss/(Gain) on Divestitures (173) 320 Total (Pre-Tax) 453 31 393 Q3/18 Q2/19 Q3/19 Tax NCI Adjusting Items (After-Tax and NCI) ($MM) Acquisition-Related Costs After-Tax and NCI Day 1 PCL on acquired performing financial instruments - International Banking Integration Costs 176 15 Canadian Banking Canadian Banking ex. Wealth International Banking Amortization of Intangibles² 16 Canadian Banking 9 Canadian Banking ex. Wealth International Banking 5236247 13 $ ཕྱs i⪜R༄+༄ 66 15 12 4 1 11 11 20 10 4 10 8315 23227F 55. 26 11 4 11 Other Net Loss/(Gain) on Divestitures (142) (98) 418 Total (After-Tax and NCI) 207 (41) (78) 5 466 1 Excludes amortization of intangibles related to software (pre-tax) 2 Excludes amortization of intangibles related to software (after-tax) Scotiabank. | 18#19OTHER ITEMS IMPACTING FINANCIAL RESULTS1 (Pre-Tax) ($MM) Canadian Banking 2 One month reporting lag elimination Branch real estate gains Interac gain Total International Banking One month reporting lag elimination Impact of closed divestitures Total 4 1276 Q3/19 vs YTD19 vs Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q3/18 YTD18 34 (34) 21 24 23 21 8 (23) (53) 40 (40) 61 58 23 21 8 7 (23) (127) 36 10 18 46 7 33 (20) 222 22 18 100 00 373 8042 Other Employee benefits re-measurement credit Total Total (Pre-Tax) (After-Tax and NCI) ($MM) Canadian Banking² One month reporting lag elimination 30 58 11 (7) 62 11 (7) 203 203 282 104 30 58 70 18 (203) (203) (30) (328) Q3/19 vs YTD19 vs Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q3/18 YTD183 384 17 224 25 (25) 20 19 17 6 6 (19) (44) 35 52 45 19 17 CO 16 (35) (19) (104) Branch real estate gains Interac gain Total International Banking One month reporting lag elimination 4 Impact of closed divestitures 13 Total 133 26 13 33 25 155 273 22 41 1 15 4 8 (5) (13) 27 45 8 (5) 2 Other Employee benefits re-measurement credit Total 150 (150) 150 - - (150) Total (After-Tax and NCI) 215 78 24 44 51 14 (24) (252) Impact on diluted earnings per share $0.18 $0.07 $0.02 $0.04 $0.04 $0.01 $0.00 ($0.02) ($0.21) 1 Items on this page have not been formally adjusted for determining the bank's Adjusted Net Income and Adjusted Diluted EPS 2 Effective Q1/19, the Bank adopted IFRS 15 which resulted in a re-classification prospectively (Q3/19 - $50 million; Q2/19 - $50 million; Q1/19 - $55 million) in Canadian Banking from Other Expenses to Card Revenues, with no impact to Net Income 3 May not add due to rounding 4 Pension and related insurance business in the Dominican Republic Scotiabank. | 19#20STABLE CORE BANKING MARGIN Core Banking Margin (%) 2.47% 2.46% 2.45% 2.45% 2.45% Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 YEAR-OVER-YEAR HIGHLIGHTS • • Lower margins in Global Banking and Markets and lower contribution from asset/liability management activities Partially offset by change in business mix from the impact of International Banking acquisitions and higher margins in Canadian Banking Scotiabank. 20#21DIGITAL PROGRESS UPDATE Steady progress against 2018 Investor Day digital targets Digital Retail Sales1 +1,700 bps Digital Adoption² +1,100 bps 15 11 22 28 26 26 F2016 F2017 F2018 Q3/19 Goal >50% In-Branch Financial Transactions³ -1,000 bps 37 26 33 23 29 20 16 F2016 F2017 F2018 Q3/19 F2016 F2017 F2018 Q3/19 • Strong progress made • across key markets; key highlight includes Chile surpassing the 50% mark Goal >70% Goal <10% Adoption grew 600bps against Q3 of last year • In-branch transactions continued to decline at a steady pace 1 Canada: F2017 22%, F2018 26%, Q3/19 30% PACS: F2017 13%, F2018 19%, Q3/19 27% 2 Canada: F2017 36%, F2018 38%, Q3/19 42% PACS: F2017 20%, F2018 26%, Q3/19 32% 3 Canada: F2017 17%, F2018 15%, Q3/19 13% PACS: F2017 29%, F2018 24%, Q3/19 19% Scotiabank. | 21#22CANADIAN BANKING - REVENUES, NIM & PRODUCTIVITY Good commercial lending and wealth management revenue growth REVENUE (TEB) ($MM) +5% Y/Y NIM 2.49% 2.46% 2.46% 2.45% 2.44% 3,532 3,373 3,380 946 821 920 +15% Y/Y Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 606 628 589 +4% Y/Y ADJUSTED PRODUCTIVITY RATIO 1,946 1,871 1,958 +1% Y/Y Q3/18 50.0% 50.0% 49.5% 48.8% 48.3% Q2/19 Q3/19 Retail Commercial Wealth Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Scotiabank. 22#23CANADIAN BANKING - VOLUME GROWTH Strong deposit and business loan growth AVERAGE LOANS & ACCEPTANCES ($B)¹ +4% Y/Y AVERAGE DEPOSITS ($B)¹ +10% Y/Y 344 351 262 265 337 241 58 53 73 73 55 7 7 73 +10% Y/Y 84 87 8 75 +17% Y/Y 74 +3% Y/Y 205 208 211 +3% Y/Y 178 178 +7% Y/Y 166 Q3/18 Q2/19 Residential mortgages Personal loans 1 May not add due to rounding Credit cards Q3/19 Business Q3/18 Personal Q2/19 Q3/19 Non-personal Scotiabank. | 23#24CANADIAN RETAIL: LOANS AND PROVISIONS MORTGAGES PERSONAL LOANS1 95 85 80 70 66 88 78 69 69 63 TOTAL RETAIL 10 10 12 2 1 11 35 33 28 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 25 25 31 31 30 30 24 25 28 LINES OF CREDIT² CREDIT CARDS 96 458 86 81 349 75 402 68 330 292 415 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 75 70 68 70 73 339 269 283 241 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 PCL as a % of avg. net loans (bps) Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 PCLs on Impaired Loans as a % of avg. net loans (bps) Loan Balances Q3/19 Mortgages Personal Loans¹ Lines of Credit2 Credit Cards Total Spot ($B) $222 $40 $34 $8 $3043 % Secured 100% 99% 62% 3% 93%4 196% are automotive loans 2 Includes Home Equity Lines of Credit and Unsecured Lines of Credit 3 Includes Tangerine balances of $6 billion 4 80% secured by real estate; 13% secured by automotive Scotiabank. | 24#25CANADIAN RESIDENTIAL MORTGAGE PORTFOLIO 40% Insured $113.7 $13.6 Total Portfolio: $222 billion (Spot Balances as at Q3/19, $B) $100.1 $40.9 $10.2 $30.8 $3.7 $16.4 $30.7 $1.9 $27.1 $11.1 $0.2 $9.5 $0.7 $14.5 $10.9 $8.8 60% Ontario BC & Territories Alberta Quebec Atlantic Provinces Manitoba & Saskatchewan Uninsured Freehold $192B Condos $30B Average LTV of uninsured mortgages is 55%¹ New originations² average LTV of 64% in Q3/19 Scotiabank. 25 1 LTV calculated based on the total outstanding balance secured by the property. Property values indexed using Teranet HPI data. 2 New originations defined as newly originated uninsured residential mortgages and have equity lines of credit, which include mortgages for purchases refinances with a request for additional funds and transfer from other financial institutions.#26Q3 2019 CANADIAN RESIDENTIAL MORTGAGES Credit fundamentals remain strong NEW ORIGINATIONS UNINSURED LTV* DISTRIBUTION Q3/18 Q2/19 Q3/19 Canada GVA 61% Total Originations ($B) Uninsured LTV 11.9 7.1 14.0 63% 64% 64% GTA 63% GTA BC & Territories Total Originations ($B) Uninsured LTV 3.6 2.3 4.5 62% 64% 63% 63% GVA Atlantic Prairies 68% ON QC Provinces 64% 65% 67% Total Originations ($B) Uninsured LTV 1.4 0.9 1.6 60% 63% 61% *Average LTV ratios for our uninsured residential mortgages originated during the quarter FICO® DISTRIBUTION - CANADIAN UNINSURED PORTFOLIO1 Average FICO Score Canada 789 GTA 791 GVA 795 15% 11% 12% 4% < 635 636-706 58% • 707- - 747 748-788 > 788 FICO is a registered trademark of Fair Isaac Corporation 1 FICO® distribution for Canadian uninsured portfolio based on score ranges at origination 2 Percentage is based on Total Mortgages . Only <0.70% of uninsured portfolio² has a FICO® score of <620 and an LTV >65% Canadian uninsured mortgage portfolio is $133 billion as at Q3/2019 Scotiabank. | 26#27INTERNATIONAL BANKING - REVENUE GROWTH Latin America, driven by the Pacific Alliance, continues to deliver strong revenue growth BY TYPE (TEB) ($MM) BY REGION (TEB) ($MM)¹ +20% +20% Y/Y2,3 Y/Y2,3 3,356 3,427 +20% 3,356 3,427 166 Y/Y 191 +23% 2,853 2,853 Y/Y3 134 849 +8% 800 1,235 1,270 Y/Y 779 1,026 +25% +19% Y/Y3 Y/Y3 2,365 2,413 2,121 2,157 1,940 1,827 Q3/18 Net interest income Q2/19 Q3/19 Q3/18 Q2/19 Q3/19 Non-interest revenue Latin America Caribbean & Central America 1 Y/Y growth rates are on a constant dollar basis 2 Revenue growth of 20% Y/Y on a reported basis 3 Includes the impact of acquisitions Asia Scotiabank. | 27#28INTERNATIONAL BANKING - VOLUME GROWTH Strong loan and deposit growth AVERAGE LOANS & ACCEPTANCES ($B)' AVERAGE DEPOSITS ($B) 1.2 1, 2 122 8 20 32 +28% Y/Y3,4 +18% Y/Y4,5 118 120 155 154 10 10 +32% Y/Y4 224 24 25 25 102 +30% Y/Y4 43 33 36 42 42 42 42 +32% Y/Y4 78 78 +24% Y/Y4 75 55 66 63 Q3/18 Q2/19 Business Q3/19 Residential mortgages Personal loans Credit cards 1 Y/Y growth rates are on a constant dollar basis 2 Includes deposits from banks 3 Average loans & acceptances growth of 27% Y/Y on a reported basis 4 Includes the impact of acquisitions 5 Average deposits growth of 18% Y/Y on a reported basis Q3/18 Q2/19 Non- Personal Personal 43 33 +17% Y/Y4 77 +18% Y/Y4 Q3/19 Scotiabank. | 28#29INTERNATIONAL BANKING - REGIONAL LOAN GROWTH Strong loan growth in Latin America bolstered by acquisitions AVERAGE LOANS & ACCEPTANCES ($B)¹ +28% Y/Y2,3 CONSTANT DOLLAR LOAN VOLUMES, Y/Y 122 3314 91 Q3/18 Latin America Retail Commercial4 Total 155 154 +0% Latin America 46% 31% 37% 32 32 2 Y/Y 2 +37% 122 123 Y/Y3 Q2/19 Q3/19 Caribbean & Central America 1 Y/Y growth rates are on a constant dollar basis 2 Average loans & acceptances growth of 27% Y/Y on a reported basis 3 Includes the impact of acquisitions 4 Excludes bankers acceptances C&CA 2% (2%) 0% Total 32% 24% 28% Scotiabank. 29#30INTERNATIONAL BANKING - PACIFIC ALLIANCE Continue to deliver strong results across the Pacific Alliance countries 1, 2, 3 FINANCIAL PERFORMANCE AND METRICS ($MM) Q3/19 Q2/19 Q3/18 Q/Q Y/Y Revenue ($MM) 2,230 2,179 1,783 +5% +26% Expenses ($MM) 1,039 1,010 818 +5% +29% Net Income ($MM) 513 496 495 +7% +2% NIM 4.50% 4.65% 4.92% (16bps) (43bps) Productivity Ratio 46.6% 46.4% 45.9% 24bps 71bps 18% Colombia 28% Chile REVENUE $2.2B GEOGRAPHIC DISTRIBUTION4 7% 27% Colombia Mexico 27% 29% Chile Peru NET INCOME $513MM 10% 26% Colombia Mexico 38% 39% Chile Peru AVG EARNING ASSETS $132B 29% Mexico 22% Peru 1 Attributable to equity holders of the Bank 2 Y/Y and Q/Q growth rates (%) are on a constant dollars basis, while metrics and change in bps are on a reported basis 3 Adjusted for Acquisition-related costs, including Day 1 PCL impact on acquired performing loans, integration and amortization costs related to current acquisitions, and amortization of intangibles related to current and past acquisitions 4 For the 3 months ended July 31, 2019 Scotiabank. | 30#31• SCOTIABANK IN THE PACIFIC ALLIANCE COUNTRIES Well positioned in high quality, growth markets PAC Highlights 230 million people¹, median age of 302 9th largest economy in the world1 Banking penetration <50%1 Sovereign ratings all "Investment Grade"3 63% of exports related to manufacturing4 Largest trading partner is the United States4 • • • Scotiabank in the PAC Only global bank present in all PAC countries Top 3 bank in Chile and Peru 28-year operating history (average) 2018 "Bank of the Year", Latin Finance Scotiabank Market Share5 Market Share Ranking5 Strengths Average Total Loans (C$B) Revenue (C$B) Net Income after NC17,8 (C$MM) ROE 6,8 # of Employees 9,10 Mexico Peru Chile Colombia 7.4% 6th 18.3% 3rd 14.0% 3rd Auto and Mortgages P&C and Mortgages Credit Cards, Mortgages 6.0% 6th Credit Cards, Personal $31.3 $21.5 $47.2 $12.2 $2.3 $2.3 $2.4 $1.6 $611 $756 $539 $132 18% 24% 10% 9% 13,241 12,052 8,967 8,955 1 Source: World Bank 2017 2 Source: The World Factbook, CIA 2017 3 Sovereign ratings from Moody's, S&P, and Fitch; Source: Bloomberg 4 Source: United Nation Conference on Trade and Development (UNCTAD) 2017; Organization for Economic Co- operation and Development (OECD) 2016 5 Ranking based on publicly traded banks by total loans market share as of June, 2019, inc. M&A 6 For the three months ended July 31, 2019 7 For the trailing 12 months ended July 31, 2019 not adjusted for currency 8 Earnings adjusted for acquisition-related costs including integration and amortization costs related to current acquisitions, and amortization of intangibles related to current and past acquisitions 9 Employees are reported on a full-time equivalent basis 10As of July 31, 2019 Scotiabank. | 31#32INTERNATIONAL RETAIL: LOANS AND PROVISIONS TOTAL RETAIL² MEXICO PERU 216 233 231 545 208 517 443 169 432 218 248 206 203 402 238 199 236 236 491 235 421 154 400 364 372 236 233 228 225 221 1 1 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 CARIBBEAN & CENTRAL AMERICA CHILE COLOMBIA 182 170 159 582 151 147 157 141 145 155 155 554 549 531 156 165 452 148 150 532 138 138 134 485 126 120 425 455 377 101 1 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 PCLs on Impaired Loans as a % of avg. net loans (bps) 1 1 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 PCL as a % of avg. net loans (bps) Loan Balances Q3/19 Spot ($B) Mexico Peru Chile Colombia C&CA Total $13 $10 $26 $7 $19 $76 ¹Adjusted for acquisition-related costs, including Day 1 PCL impact on acquired performing loans 2Total includes other smaller portfolios Scotiabank. 32 32#33GLOBAL BANKING AND MARKETS - REVENUE AND LOANS REVENUE (TEB) ($MM) 1 -2% Y/Y 1,151 1,110 1,084 270 344 298 176 185 187 664 622 599 AVERAGE BUSINESS AND GOVERNMENT LOANS & ACCEPTANCES ($B) +12% Y/Y 93 93 36 88 83 Q3/19 Q3/18 Q2/19 Q3/19 Q3/18 Q2/19 Business banking Global Equities FICC International Banking revenue contribution and assets reported in International Banking's results Scotiabank. | 33#34GLOBAL BANKING AND MARKETS - REGIONAL REVENUE AND AVERAGE ASSETS 6% Asia GEOGRAPHIC REVENUE1,2 8% Europe REVENUE (TEB) $1.1B 41% US 45% 8% Canada Asia 15% Europe ASSETS BY GEOGRAPHY1,2 AVG ASSETS $374B 38% US 39% Canada 1 For the 3 months ended July 31, 2019 2 International Banking revenue contribution and assets reported in International Banking's results Scotiabank. | 34#35TRADING RESULTS 0 TRADING LOSS DAYS IN Q3/19 25 (# of days in quarter) 20 20 15 10 10 5 0 1 T ווייוויי 3 456789 10 15 20 20 Q3/19 Daily Trading Revenues ($MM) Q3/19 TRADING REVENUE AND ONE-DAY TOTAL VAR Millions 25 20 15 10 лил Average 1-Day Total VaR Q3/19: $11.9 MM Q2/19: $11.3 MM Q3/18: $13.2 MM 5 0 -5 -10 -15 пир 25 -20 1-day total VaR Actual Daily Revenue Scotiabank. 35#36PROVISION FOR CREDIT LOSSES ($MM) Q3/18 PCLs on Total Impaired Loans Q4/18 Q1/19 Q2/19 Q3/19 PCLs on PCLS Impaired (adj.) Loans PCLs on Total Total Impaired PCLS PCLS Loans PCLs on Total PCLs on Impaired PCLs Impaired Loans (adj.) Loans Total PCLS Canadian Banking Canadian Retail 179 174 181 179 201 202 220 245 242 218 Canadian Commercial (5) 7 7 19 28 311 13 71 14 221 Total Canadian Banking 174 181 188 198 229 233 233 2521 256 240 International Banking International Retail 337 3203 412 384 416 421 421 4193 462 425 International Commercial 60 471,3 541 281 35 491 51 581,3 60 511 Total 3972 3671,2,3 4661,2 4121,2 451 470 472 4771,3 522 476 Global Banking and Markets (12) (10) (17) (20)1 (1) (16) (5) (6) (2) (4) Other 11 - - 11 - (1)1 - 1 All Bank 559 539 637 590 679 688 700 722 776 713 1 Includes provision for credit losses on debt securities and deposit with banks of -$1 million in Canadian Banking (Q1/19: $2 million, Q2/19: -$1 million), $1 million (Q2/18: -$4 million, Q3/18: $Nil, Q4/18: $41 million (impaired) and $40 million (total), Q1/19: $2 million, Q2/19: -$1 million) in International Banking, Snil in Global Banking and Markets (Q4/18: $1 million) and $nil million (Q2/18: $Nil, Q3/18: $1 Million, Q4/18: $1 million, Q1/19: -$1 million, Q2/19: $1 million) in Other 2 Not comparable to periods prior to Q1/18, which were net of acquisition benefits 3 Figures on an adjusted basis; adjusted for Day 1 PCLs from acquisitions Scotiabank. | 36#37($MM) IMPAIRED LOANS NET FORMATIONS OF IMPAIRED LOANS 1,2 GROSS IMPAIRED LOANS 1,2,3 IAS 39 IFRS 9 IAS 39 I IFRS 9 1000 900 800 700 600 500 400 300 200 100 0 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 1 0 m 2 + LO 5 6 1.15% 1.10% 1.05% 3 1.00% Q3/17 Q417 Q1/18 Net formations Average GILS (LHS) GILS as % of loans & BAS (RHS) 1 Prior to Q1/18, excludes loans acquired under the Federal Deposit Insurance Corporation (FDIC) guarantee related to the acquisition of R-G Premier Bank of Puerto Rico. Effective Q1/18, includes loans acquired under the Federal Deposit Insurance Corporation (FDIC) guarantee related to the acquisition of R-G Premier Bank of Puerto Rico 2 2018 and later amounts are based on IFRS 9. Prior period amounts were based on IAS 39 3 Excludes impact of acquisitions (Q3/18: $233 million, Q2/19: $18 million) 0.95% 0.90% 0.85% Scotiabank. | 37#38GILS & NET WRITE-OFF RATIOS Stable GILs and net write-off ratios Gross impaired loans Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 (As a % of Period End Loans & Acceptances)² Canadian Banking 0.30% 0.29% 0.31% 0.31% 0.30% International Banking 3.10% 2.70% 2.58% 2.54% 2.57% Global Banking and Markets Net write-offs Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 1,3 (As a % of Average Net Loans & Acceptances) 1, 3 Canadian Banking 0.23% 0.23% 0.28% 0.28% 0.29% International Banking 1.14% 1.24% 1.34% 1.26% 1.27% Global Banking and 0.43% 0.30% 0.33% 0.28% 0.19% Markets (0.03)% 0.09% 0.01% All Bank 0.95% 0.89% 0.90% 0.89% 0.86% All Bank 0.39% 0.45% 0.50% 0.50% 0.50% 1 Annualized 2 Excludes impact of acquisitions (Q3/18: $233 million, Q2/19: $18 million) 3 Net write-offs are net of recoveries Scotiabank. | 38#39RETAIL 90+ DAYS PAST DUE LOANS Credit quality remains relatively stable across all markets and products Q3/18 CANADA Q4/18 Q1/19 Q2/19 Q3/19 Mortgages 0.20% 0.20% 0.21% 0.21% 0.21% Personal Loans 0.56% 0.56% 0.58% 0.56% 0.54% Credit Cards 0.89% 0.91% 0.95% 0.92% 0.83% Secured and Unsecured Lines of Credit 0.28% 0.29% 0.30% 0.30% 0.26% Total 0.27% 0.28% 0.29% 0.28% 0.27% INTERNATIONAL Q3/181 Q4/181 Q1/191 Q2/191,2 Q3/191,2 Mortgages 3.28% 3.18% 3.24% 3.16% 3.23% Personal Loans 3.45% 3.56% 3.59% 3.52% 3.55% Credit Cards 3.03% 2.96% 3.01% 3.01% 3.19% TOTAL 3.31% 3.25% 3.30% 3.23% 3.31% 1 Includes acquisitions in Chile, Colombia. 2 Includes acquisitions in Peru and Dominican Republic. Scotiabank. | 39#40ECONOMIC OUTLOOK IN KEY MARKETS Macro economic growth outlook remains positive for the Pacific Alliance countries Real GDP (Annual % Change) Country 2017 2018 2019F 2020F Canada 3.0 1.9 1.4 2.0 U.S. 2.2 2.9 2.5 1.6 Mexico 2.1 2.0 0.9 1.1 Peru 2.5 3.9 3.1 3.7 ★ Chile 1.5 4.0 3.2 3.2 Colombia 1.4 2.6 3.2 3.6 Source: Scotia Economics, as of July 12, 2019 Scotiabank. | 40#41FX MOVEMENTS VERSUS CANADIAN DOLLAR Canadian (Appreciation) / Depreciation Currency Q3/19 Q2/19 Q3/18 Q/Q Y/Y SPOT U.S. Dollar 0.758 0.746 0.769 (1.6%) 1.5% Mexican Peso 14.52 14.15 14.33 (2.6%) (1.3%) Peruvian Sol 2.503 2.469 2.514 (1.4%) 0.4% Colombian Peso 2486 2,413 2,222 (3.0%) (11.9%) Chilean Peso 533.3 505.5 490.0 (5.5%) (8.8%) AVERAGE U.S. Dollar 0.753 0.751 0.767 (0.3%) 1.8% Mexican Peso 14.42 14.36 15.04 (0.4%) 4.1% Peruvian Sol 2.497 2.485 2.511 (0.5%) 0.5% Colombian Peso 2454 2,354 2,209 (4.2%) (11.1%) Chilean Peso 519.6 499.1 489.6 (4.1%) (6.1%) Scotiabank. | 41#42INVESTOR RELATIONS CONTACT INFORMATION Philip Smith, Senior Vice-President 416-863-2866 [email protected] Steven Hung, Vice-President 416-933-8774 [email protected] Lemar Persaud, Director 416-866-6124 [email protected] Judy Lai, Director 416-775-0485 [email protected] Scotiabank. | 42