#1apn NOVEMBER 2016 Investor Presentation Vous tres plus SERVICE COMPLET THIRD QUARTER 2017 August 29, 2017 Scotiabank#2Caution Regarding Forward-Looking Statements 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. 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 2016 Annual Report under the headings "Overview-Outlook," for Group Financial Performance "Outlook," for each business segment "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 (including those in the area of risk management), 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," "anticipate," "intent," "estimate," "plan," "may increase," "may fluctuate," and similar expressions of future or conditional verbs, such as "will," "may," "should," "would" and "could." By their very nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, and the risk that predictions and other forward-looking statements will not prove to be accurate. Do not unduly rely on forward-looking statements, as a number of important factors, many of which are beyond the Bank's control and the effects of which can be difficult to predict, could cause actual results to differ materially from the estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to: the economic and financial conditions in Canada and globally; fluctuations in interest rates and currency values; liquidity and funding; significant market volatility and interruptions; the failure of third parties to comply with their obligations to the Bank and its affiliates; changes in monetary policy; legislative and regulatory developments in Canada and elsewhere, including changes to, and interpretations of tax laws and risk-based capital guidelines and reporting instructions and liquidity regulatory guidance; changes to the Bank's credit ratings; operational (including technology) and infrastructure risks; reputational risks; the risk that the Bank's risk management models may not take into account all relevant factors; the accuracy and completeness of information the Bank receives on customers and counterparties; the timely development and introduction of new products and services in receptive markets; the Bank's ability to expand existing distribution channels and to develop and realize revenues from new distribution channels; the Bank's ability to complete and integrate acquisitions and its other growth strategies; critical accounting estimates and the effects of changes in accounting policies and methods used by the Bank as described in the Bank's annual financial statements (See "Controls and Accounting Policies-Critical accounting estimates" in the Bank's 2016 Annual Report) and updated by this document; global capital markets activity; the Bank's ability to attract and retain key executives; reliance on third parties to provide components of the Bank's business infrastructure; unexpected changes in consumer spending and saving habits; technological developments; fraud by internal or external parties, including the use of new technologies in unprecedented ways to defraud the Bank or its customers; increasing cyber security risks which may include theft of assets, unauthorized access to sensitive information or operational disruption; consolidation in the financial services sector in Canada and globally; competition, both from new entrants and established competitors; judicial and regulatory proceedings; natural disasters, including, but not limited to, earthquakes and hurricanes, and disruptions to public infrastructure, such as transportation, communication, power or water supply; the possible impact of international conflicts and other developments, including terrorist activities and war; the effects of disease or illness on local, national or international economies; 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. For more information, see the "Risk Management" section of the Bank's 2016 Annual Report. Material economic assumptions underlying the forward-looking statements contained in this document are set out in the 2016 Annual Report under the heading "Overview-Outlook," as updated by this document; and for each business segment "Outlook". 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. The preceding list of factors is not exhaustive of all possible risk factors and other factors could also adversely affect the Bank's results. 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. The forward-looking statements contained in this document are presented for the purpose of assisting the holders of the Bank's securities and financial analysts in understanding the Bank's financial position and results of operations as at and for the periods ended on the dates presented, as well as the Bank's financial performance objectives, vision and strategic goals, 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 Scotiabank®#3obs NOVEMBER 2016 A Vous êtes plus Overview SERVICE COMPLET Brian Porter President & Chief Executive Officer Scotiabank®#4• Q3 2017 Overview Strong Q3 results - Net income of $2.1 billion • . ● - Diluted EPS of $1.66 per share ROE of 14.8% Quarterly dividend increased 3 cents to $0.79 per share Strong performance across our business lines Structural cost initiatives progressing ahead of plan Improved credit performance Capital position remains strong Scotiabank® 4#5apr NOVEMBER 2016 A Vous êtes plus r SERVICE COMPLET Financial Review Sean McGuckin Chief Financial Officer Scotiabank#6Q3 2017 Financial Performance $ millions, except EPS Net Income Diluted EPS Revenue Year-over-Year Highlights Net Income grew 7% Diluted EPS grew 8% Revenue up 4% Q3/17 Q/Q Y/Y $2,103 +2% +7% • $1.66 $6,894 +5% +2% +8% +4% Expenses $3,672 +2% +5% Productivity Ratio 53.3% -140bps +50bps Core Banking Margin 2.46% -8bps +8bps - PCL Ratio 45bps -4bps -2bps Dividends Per Common Share +$0.02 +$0.03 • +$0.02 . $0.76 $0.76 $0.74 $0.74 $0.72 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Announced dividend increase • Higher net interest income from asset growth in both Canadian and International Banking Growth in banking and wealth revenues and gains on sale of real estate Partly offset by lower net gains on investment securities, underwriting and advisory fees, and trading revenues Expense growth of 5% Investments in technology, digital banking, and other initiatives, higher employee-related costs and the impact of foreign exchange translation YTD operating leverage¹ of -0.5% or +0.6% on a TEB basis PCL ratio improved 2 bps - Higher retail provisions were mostly offset by lower non-retail provisions across all business lines ¹Adjusting for restructuring charge of $278 million after-tax ($378 million before-tax) in Q2/16 6 Scotiabank®#7Capital - Strong Position Basel III Common Equity Tier 1 (CET1) (%) 10.5 11.0 11.3 11.3 11.3 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 CET1 Risk-Weighted Assets ($B) 358 364 II 375 360 • Highlights Strong internal capital generation and revaluation gains from pension and benefit plans was offset by foreign currency translation and share buy-backs Quarterly dividend increased by 3 cents to $0.79 per share, up 7% Y/Y CET1 risk-weighted assets decreased $10 billion Q/Q Primarily due to the impact of a stronger Canadian dollar Partly offset by organic growth in personal and business lending RWA Leverage ratio stable at 4.4% 365 • Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 7 • Liquidity ratio of 125% Capital position remains strong and dividend increase of 3 cents Scotiabank®#8Canadian Banking Net Income ($MM) 1,045 930 954 981 971 III Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 • . • • • Year-over-Year Highlights Net income up 12% - +8%, adjusting for real estate gains Strong loan growth and margin expansion Stable credit Loan growth of 5%, or 6%, adjusting for the Tangerine run-off mortgage portfolio Residential mortgages up 6% Business loans up 11% Deposits up 5% - - Retail savings deposits grew 10% and chequing accounts were up 11% Small business and commercial banking operating accounts grew by 10% NIM up 3 bps PCL ratio down 1 bp Expenses up 4% - Higher investments in digital and technology to support business growth, partially offset by benefits realized from cost reduction initiatives Positive YTD operating leverage of 2.5% Strong loan growth and margin expansion Scotiabank® Average Assets ($B) Net Interest Margin (%) . 310 313 316 318 325 6 5 2.41 4 • 2.39 2.39 2.38 2.38 303 307 311 313 321 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Tangerine run-off mortgage portfolio (1) Attributable to equity holders of the Bank 8#9International Banking Net Income ($MM) • 614 595 576 547 527 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 • • Average Assets ($B) Net Interest Margin (%) 140 142 143 149 152 5.00 4.79 4.77 4.73 4.77 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 (1) Attributable to equity holders of the Bank (2) Adjusting for foreign currency translation - see page 5 of MD&A for additional details 9 Year-over-Year Highlights Net Income up 16% or 12%² - Good asset and deposit growth Benefits from cost-reduction initiatives Loans up 11% and deposits up 13% - Commercial loan growth was 6%² Q/Q Pacific Alliance loan growth up 13%² Y/Y NIM down 2 bps, but RAM up 3 bps - - Driven by impact of customer assistance programs related to flooding in Peru Lower net inflation impacts Partly offset by higher spreads related to Central Bank rate changes PCL ratio improved by 10 bps Expenses up 7% or 5%² Increased business volumes, inflation, higher technology investment and business taxes, partly offset by benefits realized from cost- reduction initiatives Positive YTD operating leverage of 3% Solid volume growth and positive operating leverage Scotiabank®#10Global Banking and Markets Net Income ($MM) 517 469 461 441 421 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 · • • • Year-over-Year Highlights Net Income up 5% Driven mainly by higher contributions from equities and the Canadian, U.S, and European lending businesses Partly offset by lower results in fixed income, Asian lending and investment banking, as well as higher regulatory costs Revenue down 3% PCL ratio improved by 8 bps, driven by lower provisions in energy - PCL ratio increased 10 bps Q/Q, largely related to one account Expenses up 5% Higher expenses related to regulatory initiatives Positive YTD operating leverage of 3% Average Loans² ($B) Net Interest Margin³ (%) • 81 81 82 80 82 1.78 1.72 1.75 1.76 1.63 10 Higher contributions from equities and improved credit performance Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 (1) (2) (3) Attributable to equity holders of the Bank Average Business & Government Loans & Acceptances Corporate Banking only Scotiabank®#11(1) (2) Other Segment¹ 19 2 Net Income ($MM) (23) (78) (86) (55) Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 • . Year-over-Year Highlights Lower net gain on investment securities, partly offset by a decrease in non-interest expenses Lower level of non-interest income and higher income tax benefit, were partly due to the elimination of larger TEB amounts this quarter Includes Group Treasury, smaller operating segments, and other corporate items which are not allocated to a business line. The results primarily reflect the net impact of asset/liability management activities Attributable to equity holders of the Bank 11 Scotiabank®#12obs NOVEMBER 2016 Risk Review Vous etes plus SERVICE COMPLET C Daniel Moore Ho Chief Risk Officer Scotiabank#13Risk Review PCLS ($MM) and PCL Ratio (bps) 49 47 45 45 45 571 550 553 587 573 · Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 • PCLS PCL Ratio GILS1 ($ billions) Formations ($MM) 788 807 5.3 5.4 5.2 5.4 723 4.9 645 644 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 (1) Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 13 • Year-over-Year Highlights PCLs are stable and PCL ratio reported improved performance Retail PCL ratio in Canada has stabilized and delinquency rates improved across all product categories Good retail trends in International excluding Colombia Improved commercial performance in Canada and International Cumulative energy loan loss ratio remains below expectations Gross impaired loans improved 9% Q/Q1 - Net impaired loan loss ratio improved 5 bps Q/Q to 0.44% Net formations down 20% Q/Q Improvement across all business lines Market risk-average 1-day all- bank VaR of $11 million, down Q/Q No trading loss days in Q3/17 Overall credit fundamentals are within expectations Excludes loans acquired under the Federal Deposit Insurance Corporation (FDIC) guarantee related to the acquisition of R-G Premier Bank of Puerto Rico. Scotiabank®#14PCL Ratios (Total PCL as a % of Average Net Loans Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 & Acceptances) Canadian Banking Retail 0.30 0.31 0.32 0.34 0.31 Commercial 0.20 0.14 0.21 0.14 0.09 Total 0.29 0.28 0.30 0.31 0.28 Total-Excluding net acquisition benefit 0.31 0.29 0.31 0.32 0.29 International Banking Retail 2.13 2.01 2.10 2.19 2.08 Commercial 0.47 0.33 _ 0.35 0.51 0.31 Total 1.26 1.15 1.21 1.33 1.16 Total - Excluding net acquisition benefit 1.39 1.32 1.32 1.45 1.27 Global Banking and Markets 0.19 0.19 0.04 0.01 0.11 All Bank 0.47 0.45 0.45 0.49 0.45 14 Scotiabank®#15NOVEMBER 2016 Vous etes plus SERVICE COMPLET Appendix Scotiabank#16Diluted EPS Reconciliation $ per share Q3/17 Reported Diluted EPS $1.66 Add: Amortization of Acquisition and $0.02 Intangibles Adjusted Diluted EPS $1.68 16 Scotiabank®#17Core Banking Margin 2.54% 2.46% 2.38% 2.40% 2.40% Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 17 Year-over-year Higher margins driven by growth in higher margin assets in International Banking, a reduction of lower yielding deposits with banks, as well as wider margins in Canadian Banking Scotiabank®#18Canadian Banking - Revenue & Volume Growth Revenues (TEB) ($ millions) Average Loans & Acceptances ($ billions) +5%1 Y/Y +7% Y/Y 42 44 46 74 75 77 -7 5 4 3,043 3,134 3,266 180 188 191 831 808 835 Q3/16 Business 546 504 528 Q2/17 Q3/17 ■Personal & credit cards Tangerine mortgage run-off Residential mortgages Average Deposits ($ billions) +5% Y/Y 1,889 1,731 1,771 66 69 73 158 162 162 Q3/16 Q2/17 Q3/17 Retail ■Commercial Wealth (1) Adjusting for Tangerine run-off portfolio, loans & acceptances increased 6% year over year 18 Q3/16 Q2/17 Q3/17 Personal Non-personal Scotiabank®#19Canadian Banking – Net Interest Margin - 2.38% 2.39% 2.39% 2.38% 2.41% 2.45% 2.20% 1.95% 1.70% 1.45% 1.66% 1.67% 1.64% 1.65% 1.68% 1.20% 0.95% 0.70% 0.96% 0.94% 0.97% 0.97% 0.96% Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Total Canadian Banking Margin -Total Earning Assets Margin -Total Deposits Margin Year-over-Year Net Interest Margin was up 3 bps to 2.41%, from higher yields in unsecured lending, the impact of the run-off of lower spread Tangerine mortgages, and higher deposit volumes 19 Scotiabank®#20International Banking – Revenue & Volume Growth Revenues (TEB) ($ millions) - Average Loans & Acceptances ($ billions) +11% Y/Y +9% 25 25 23 Y/Y 26 29 30 2,424 2,618 2,645 53 55 58 905 910 828 Q3/16 Q2/17 Business Q3/17 ■Residential mortgages Personal & credit cards Average Deposits¹ ($ billions) 1,596 1,713 1,735 +13% Y/Y 35 36 33 Q3/16 Q2/17 Q3/17 54 61 62 Net interest income ■Non-interest revenue (1) Includes deposits from banks 20 20 Q3/16 Q2/17 Q3/17 Scotiabank® ■Non-personal ■ Personal#21International Banking - Regional Growth Revenues (TEB) ($ millions) +9% Y/Y Average Loans & Acceptances ($ billions) +11% Y/Y 32 32 32 2,618 2,645 2,424 110 115 94 70 77 81 774 766 744 Q3/16 Q2/17 Q3/17 Latin America ■Caribbean & Central America Constant FX 1,586 1,734 1,764 Retail Commercial1 Total Loan Volumes Y/Y Latin America 15% 11% 12% Q3/16 Q2/17 Asia Q3/17 C&CA 0% -2% -1% ■Caribbean & Central America Latin America Total 9% 7% 8% (1) Excludes bankers acceptances 21 21 Commercial loans increased 6% Q/Q Scotiabank®#22International Banking - Commercial Loan Growth +6% 55.0 55.6 54.1 52.7 53.0 53.2 58.1 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 (1) In $ billions and reflects foreign exchange translation at Q3/17 foreign exchange rates (2) Excludes bankers acceptances 22 22 . Highlights Quarter-over-quarter commercial loan growth was 6%, mainly driven by Pacific Alliance countries Year-over-year commercial loan growth was 7% Scotiabank®#23Global Banking and Markets - Revenue & Volume Growth Revenues (TEB) ($ millions) Average Loans & Acceptances ($ billions) -3% +1% Y/Y Y/Y 1,151 1,203 1,117 82 81 80 539 658 526 Q3/16 Q3/17 Q2/17 All-Bank Trading Revenue (TEB) ($ millions) 548 612 591 545 428 423 Q3/16 Q2/17 Q3/17 ■Business Banking ■Capital Markets 23 23 518 448 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Scotiabank®#24Economic Outlook in Key Markets Real GDP (Annual % Change) 2000-15 Country 2016A 2017F 2018F Avg. Mexico 2.4 2.3 2.1 2.5 Peru 5.3 3.9 2.5 3.7 Chile 4.3 1.6 1.6 2.6 Colombia 4.3 2.0 1.9 2.2 2000-15 2016A 2017F 2018F Avg. Canada 2.2 1.5 2.9 1.9 U.S. 2.0 1.5 2.1 2.2 Source: Scotia Economics, as of August 2, 2017 24 24 Scotiabank®#25Energy Exposures¹ . . • Committed to our guidance of a cumulative PCL ratio of less than 3%² since 2015 - Cumulative PCL ratio of 2.1% as of Q3/172 Risk of loss has declined in this sector Drawn corporate energy exposure of $14.9 billion increased 8.9% Q/Q³ • Approximately 53% investment grade Undrawn commitments of $11.7 billion increased 0.4% Q/Q³ Approximately 71% investment grade Focus on select non-investment grade E&P and Services accounts - Approximately two-thirds of focus accounts have issued debt ranking below the Bank's senior position (2) (1) Exposures relate to loans and acceptances outstanding as of July 31, 2017 and to undrawn commitments attributed/related to those drawn loans and acceptances. Cumulative PCL ratio by sector is calculated as total PCLs over the period Q1/15 - Q3/17 divided by the average quarterly exposure over the period Q1/15 - Q3/17. Quarter-over-quarter impact is calculated on a constant currency basis. Inclusive of FX changes drawn exposures increased 2.0% and undrawn commitments decreased 5.6%. (3) 25 25 Scotiabank®#26Provisions for Credit Losses ($ millions) Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Canadian Retail 196 203 213 220 214 Canadian Commercial 21 14 22 16 10 Total Canadian Banking 217 217 235 236 224 Total - Excluding net acquisition benefit 232 221 240 247 232 International Retail 254 251 265 280 280 International Commercial 62 43 45 69 45 Total International Banking 316 294 310 349 325 Total - Excluding net acquisition benefit 343 337 340 380 355 Global Banking and Markets 38 39 8 2 24 All Bank 571 550 553 587 573 All Bank - Excluding net acquisition benefit 613 597 588 629 611 Increase in Collective Allowance 0 0 0 0 0 All Bank 571 550 553 587 573 PCL ratio (bps) - Total PCLS as a % of Average Net Loans & Acceptances Excluding Collective Allowance 47 45 45 49 45 Including Collective Allowance 47 45 45 49 45 26 26 Scotiabank®#271 Net Formations of Impaired Loans ($ millions) 1,200 1,000 800 600 400 200 0 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 ■Net Formations Q2/17 Q3/17 -Average (1) Excludes loans acquired under the Federal Deposit Insurance Corporation (FDIC) guarantee related to the acquisition of R-G Premier Bank of Puerto Rico. 27 27 Scotiabank®#28Gross Impaired Loans" ($ billions) 1 6.0 5.5 5.0 4.5 4.0 3.5 3.0 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 GILS as % of Loans & BAs (RHS) GILS (LHS) (1) Excludes loans acquired under the Federal Deposit Insurance Corporation (FDIC) guarantee related to the acquisition of R-G Premier Bank of Puerto Rico. 28 1.15% 1.10% 1.05% 1.00% 0.95% 0.90% 0.85% Scotiabank®#29Canadian Residential Mortgage Portfolio (Spot Balances as at Q3/17, $ billions) $99.2 $11.1 Total Portfolio: $202 billion Average LTV of Insured 52% Uninsured uninsured 48% mortgages is 50%¹ New originations² $88.1 $34.9 $7.5 average LTV of 64% in Q3/17 $30.8 $3.7 $15.9 $1.8 $11.7 $0.2 $9.3 $27.4 $27.1 $0.7 $14.1 $11.5 $8.6 Ontario B.C. & Alberta Quebec Territories Atlantic Provinces Manitoba & Saskatchewan ■Freehold - $177B ■Condos - $25B € (2) (3) Scotiabank® LTV calculated based on the total outstanding balance secured by the property. Property values indexed using Teranet HPI data. 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. Some figures on bar chart may not add due to rounding. 29 29#30Canadian Retail: Loans and Provisions (Spot Balances as at Q3/17, $ billions) $201.8 Total Portfolio = $278 billion¹; 93% secured² $32.8 $36.7 $6.8 Mortgages Lines of Credit Personal Loans Credit Cards % secured 100% 61% 99% 4% PCL2 Q3/17 Q2/17 Q3/17 Q2/17 Q3/17 Q2/17 Q3/17 Q2/17 $ millions 3 3 61 63 83 83 67 71 % of avg. net 1 1 77 81 94 101 409 452 loans (bps) (1) Includes Tangerine balances of $8 billion (2) 81% secured by real estate; 12% secured by automotive 30 30 Scotiabank®#31International Retail: Loans and Provisions (Spot Balances as at Q3/17, $ billions¹) $17.5 Total Portfolio₁ = $53 billion; 65% secured $1.7 ■Credit Cards ($6.6B) Personal Loans ($16.0B) $4.2 $11.8 Mortgages ($29.7B) $10.2 $1.6 - $0.5 $2.8 $3.5 $7.5 $1.3 $11.6 $5.3 $3.6 $1.5 $6.9 $6.7 $1.9 $2.6 $1.9 C&CA³ Mexico Chile 3 Peru 3 Colombia PCL2 Q3/17 Q2/17 Q3/17 Q2/17 Q3/17 Q2/17 Q3/17 Q2/17 Q3/17 Q2/17 $ millions 36 51 40 42 27 26 71 76 93 69 % of avg. net loans (bps) 78 116 156 185 92 94 383 432 683 510 (1) Total Portfolio includes other smaller portfolios (2) Excludes Uruguay PCLs of approximately $13 million (3) Includes the benefits from Cencosud and Citibank net acquisition benefits. Excluding the net acquisition benefits, C&CA's ratio would be 119 bps for Q3/17 and 144 bps for Q2/17 and Chile's ratio would be 124 bps for Q3/17 and 130 bps for Q2/17 Scotiabank® 31#32Q3 2017 Trading Results and One-Day Total VaR 25 -1-Day Total VaR • Actual P&L 20 15 10 5 0 -5 -10 -15 Average 1-Day Total VaR Q3/17: $11.0 MM Q2/17: $11.1 ММ Q3/16: $11.0 MM 32 Scotiabank®#33# of days in quarter Q3 2017 Trading Results 12 10 10 8 6 4 2 0 1 2 3 4 5 6 7 8 • Daily Trading Revenues ($mm) No trading loss days in Q3/17 33 9 10 10 13 15 17 21 24 Scotiabank®#34FX Movements versus Canadian Dollar Canadian (Appreciation) / Depreciation Q3/17 Q2/17 Q3/16 Q/Q Y/Y Currency Spot U.S. Dollar 0.802 0.733 0.766 -9.5% -4.7% Mexican Peso 14.28 13.79 14.36 -3.5% 0.6% Peruvian Sol 2.599 2.376 2.568 -9.4% -1.2% Colombian Peso 2,395 2,155 2,351 -11.1% -1.9% Chilean Peso 521.1 488.4 501.7 -6.7% -3.9% Average U.S. Dollar 0.758 0.751 0.772 -0.9% 1.7% Mexican Peso 13.83 14.59 14.24 5.2% 2.9% Peruvian Sol 2.474 2.447 2.559 -1.1% 3.3% Colombian Peso 2,256 2,179 2,298 -3.6% 1.8% Chilean Peso 504.1 491.2 519.7 -2.6% 3.0% 34 Scotiabank®#35Investor Relations Contact Information Adam Borgatti, Vice President 416-866-5042 [email protected] Steven Hung, Director 416-933-8774 [email protected] Scotiabank®