#1Investor Presentation Third Quarter 2020 August 25, 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#3Q3/20 Financial Results Raj Viswanathan Group Head & CFO 3#4Q3 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 53 312 332 374 600 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 4#5Strong Capital & Liquidity +17 bps -7 bps 11.3% +31 bps -26 bps +28 bps 10.9% (1) Q2/20 Reported Earnings Dividends Lower RWA ECL Transitional Capital Relief Pension Q3/20 Reported Internal capital generation CET1 ratio 230 bps above OSFI minimum capital standard (versus 190 bps in Q2 2020) • +10 bps Y/Y, +40 bps Q/Q . • Lower risk-weighted assets (RWA) driven by repayments on corporate loan facilities and reductions in counterparty credit risk and credit valuation adjustment capital requirements LCR ratio of 141% 1 Net Income Available to Equity Holders 5#6Canadian 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 $752 +212% +12% • Productivity Ratio 46.7% +210 bps (140 bps) • NIM down 18 bps PCL Ratio² 0.85% +57 bps PCL Ratio Impaired Loans² 0.36% +6 bps +8 bps 0 bps • • YEAR-OVER-YEAR HIGHLIGHTS Adjusted Net Income down 53%³ o PCLs up 212%; mainly from performing loan PCLs o Adjusted expenses down 2%3 o Strong volume growth and lower expenses offset by lower net interest income and non-interest income Revenue down 6% 。 Net interest income down 4%; margin compression o Non-interest income down 13%; lower economic activity Loan growth of 5% o Residential mortgages up 6%; credit card loans down 13% o Business loans up 10% Deposit growth of 10% ADJUSTED NET INCOME¹³ ($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 6#7International 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 $1,278 189% 27% YEAR-OVER-YEAR HIGHLIGHTS1 Adjusted Net Income ex. divestitures down 91% 2,5 Excluding divested operations: o PCLs up 187%; mainly from performing loan PCLs o Strong loan growth of 13% and deposits growth 11% Revenues ex. divestitures down 8% o Margin compression and lower non-interest income o PAC revenues down 5% NIM down 52 bps³ o Mainly driven by excess balance sheet liquidity, business mix changes and central bank rate cuts Adjusted Expenses ex. divestitures down 6%5 o Acquisition synergies and good cost control Adjusted YTD operating leverage of -0.8%5 ex. divestitures ADJUSTED NET INCOME 2,5 ($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 1 Y/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 7#8Global Banking and Markets $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 $149 N/A (4%) Productivity Ratio 40.1% (1,460 bps) (210 bps) PCL Ratio² 0.50% +51 bps -4 bps PCL Ratio Impaired Loans² 0.13% +14 bps +4 bps 1 Attributable to equity holders of the Bank 2 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures 3 Refer to Non-GAAP Measures on slide 45 for adjusted results . • YEAR-OVER-YEAR HIGHLIGHTS Net Income up 60% o Continued strong trading and investment banking revenues Revenue up 43% o Non-interest income up 57% o Net Interest income up 11% Loans grew 18% and Deposits up 46% Expenses up 5% Improved productivity ratio by 1,460 bps Positive YTD operating leverage of 26% PCL ratio² of 50 bps 1,3 ADJUSTED NET INCOME ¹³ ($MM) AND ROE³ (%) 13.8% 12.8% 14.0% 15.4% 17.5% 600 523 374 405 451 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 8#9Global 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 9#10Other ADJUSTED NET INCOME -31 -35 -48 1, 2, 3 ($MM) -166 -64 YEAR-OVER-YEAR HIGHLIGHTS • Higher expenses partly offset by higher contributions from asset/liability management activities Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 • 1 Represents smaller operating segments including Group Treasury and corporate adjustments 2 Attributable to equity holders of the Bank 3 Refer to Non-GAAP Measures on slide 45 for adjusted results QUARTER-OVER-QUARTER HIGHLIGHTS Included higher operating expenses relating to provisions for metals investigations 10 10#11Risk Review Daniel Moore Group Head & CRO 11#12Well Provisioned Total ACLs ($MM) • $7.4 billion in total ACLS • 56% increase ($2 billion) in performing 7,403 6,079 1,958 +45% 5,273 5,145 5,095 1,717 1,749 1,663 1,607 ACLS over the past 2 quarters. 5,445 • Adequate coverage for future net write- 4,362 3,524 3,482 3,488 offs Total Impaired ACLs ($MM)1 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Performing ACLS Impaired ACLS Total Performing ACLs ($MM) 5,445 +22% 4,362 3,524 3,482 3,488 1,749 1,663 1,607 1,717 1,958 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 1 Includes allowances for credit losses on Off-Balance Sheet exposures and acceptances, debt securities and deposits with financial institutions +56% 12#13PCLs by Business Line TOTAL PCLs ($MM)1, 2, 3 AND PCL RATIO² 136 bps 119 bps 2,181 2400 - • 1,846 2 149 1900 48 bps 50 bps 51 bps 2 155 752 1400 670 YEAR-OVER-YEAR HIGHLIGHTS Total PCL ratio² of 136 bps, up 17 bps Q/Q, and up 88 bps Y/Y Higher PCL rates primarily due to higher performing loan PCL related to COVID-19, unfavourable macroeconomic outlook and estimated impact of future credit migration 900 753 713 771 4 18 241 247 250 1,278 1,019 400 476 502 503 -100 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 International Banking Canadian Banking Global Banking and Markets Other PCL Ratio by Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Business Line (bps) Canadian Banking 284 28 282 77 85 International Banking 1254 1354 1362,4 2784 333 Global Wealth Management 6 44 Global Banking and Markets All Bank4 -1 48 24 50 72 512 54 504 119 136 1 Includes provision for credit losses on debt securities and deposit with banks of $nil million in Canadian Banking (Q3/19: -$1 million), $nil million in International Banking (Q3/19: $1 million, Q4/19: -$3 million, Q1/20: -$1 million, Q2/20: $1 million), $1 million in Global Banking and Markets (Q4/19: -$1 million) and -$1 million in Other (Q4/19: $1 million, Q1/20: $1 million, Q2/20: -$2 million) 2 Refer to Non-GAAP Measures on slide 45 for adjusted results 3 Other includes provisions for credit losses in Global Wealth Management of $1 million (Q3/19: -$1 million, Q1/20: $1 million, Q2/20: $2 million) 4 Excludes provision for credit losses on debt securities and deposit with banks 13#14PCLs - Impaired and Performing YEAR-OVER-YEAR HIGHLIGHTS Higher PCLs driven mainly by higher performing PCL. Total PCLs1 of $2,181 million were up 206% Y/Y and up 18% Q/Q Performing PCLs of $1,253 million versus a recovery of $63 million last year driven by COVID-19 and its estimated impact of credit migration Impaired PCLs of $928 million up 20% Y/Y reflecting higher impaired PCL in Canadian Banking, Global Banking and Markets and International Banking PCLs ($MM) Q3/19 Q4/19 Q1/20² Q2/20 Q3/20 All-Bank Impaired 776 Performing (63)1 91 744 802 870 928 . (31)1 9761 1,2531 Total 7131 7531 7711 1,8461 2,1811 Canadian Banking Impaired 257 255 258 313 317 Performing (16)1 (8) (8) 357 435 Total 2411 247 250 670 752 International Banking О Impaired 522 477 508 531 573 Performing (46)1 251 (5)1 4881 705 Total 4761 5021 5031 1,0191 1,278 Global Wealth Management Impaired (1) Performing Total (1) 1 1 11 2 11 Global Banking and Markets Impaired (2) 12 36 25 38 Performing (2) (8)1 (18) 130 1111 Total (4) 41 18 155 1491 Other (Performing) 1 _1 _1 _1 1 1 Includes provision for credit losses on debt securities and deposit with banks of $nil million in Canadian Banking (Q3/19: -$1 million), $nil million in International Banking (Q3/19: $1 million, Q4/19: -$3 million, Q1/20: -$1 million, Q2/20: $1 million), -$1 million in Global Wealth Management, $1 million in Global Banking and Markets (Q4/19: -$1 million) and $nil million in Other (Q4/19: $1 million, Q1/20: $1 million, Q2/20: -$2 million) 2 Refer to Non-GAAP Measures on slide 45 for adjusted results 14#15International Retail: Loans and Provisions Markets with Greater Weighting to Unsecured PERU COLOMBIA 2.5x 3.0x 447 1127 416 1242 1290 970 939 1552 545 549 372 473 471 531 471 439 402 491 424 470 395 361 455 579 542 420 406 377 1 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 MEXICO CHILE Caribbean & CA 2.6x 1.9x 2.5x3 Markets with Greater 216 570 157 300 1993 5073 550 591 556 Weighting to Secured 457 250 267 218 208 246 251 321 279 159 155 160 191 187 178 157 141 228 231 238 203 163 148 190 150 154 175 231 221 156 165 138 170 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q2/19 Q3/19 Q4/19 Q1/201 Q2/20 Q3/20 Q2/19 Q3/19 Q4/19 Q1/201 Q2/20 Q3/20 PCL as a % of avg. net loans (bps) PCLs on Impaired Loans as a % of avg. net loans (bps) Loan Balances Q3/20 Mexico Peru Chile Colombia Caribbean & CA Total² Secured ($B) $10 $4 $20 $2 $10 $46 Unsecured ($B) $2 $6 $6 $5 $3 $22 Spot Total ($B) $12 $10 $26 $7 $13 $68 1 PCL excludes impact of additional pessimistic scenario 2 Total includes other smaller portfolios 3 Excludes impact of divested operations 15 15#16Customer Assistance Programs Product Types Active Deferral Active Requests 1 Total Exposure¹ % Deferral Exposure Expired 1 #('000s) % ($B) % Expiring Deferral Exposure in Q4/201 ($B) % Current following Deferral Expiry 1,2 % Canada 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 12 8 4 Deferral Expiry Schedule ($B) 1 Canadian Banking 2.4 41.5 23.3 International Banking 18.1 11.1 11.9 3.7 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Jul-20 Aug-20 Sep-20 Oct-20 3.9 Post - Oct-20 Jul-20 -1.4 1.9 Aug-20 Sep-20 Oct-20 Post- Oct-20 International ⚫Canada 1 As at July 31, 2020 2 Canadian payments % includes accounts that have not yet completed first billing cycle since expiring 16#17GILs and GIL Formations by Business Line GILS² ($MM) AND GILS RATIO1, 2 86 bps 84 bps 77 bps 78 bps 81 bps 5,229 5,135 202 -14 237 10 4,770 5,120 218 27 285 -31 5,148 209-26 1,069 1,087 1,106 1,222 1,209 3,944 3,801 3,419 3,582 3,704 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 YEAR-OVER-YEAR HIGHLIGHTS GILs increased 1% Q/Q but declined 2% Y/Y GILs ratio up 3 bps Q/Q and down 5 bps Y/Y primarily due to International Banking Net formations decreased 25% Q/Q and were up 7% Y/Y NET FORMATIONS² ($MM) AND NET FORMATIONS RATIO 1,2 GILs Ratio (bps)1,2 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 19 bps 14 bps 16 bps 16 bps 14 bps 1,220 76 3 968 978 920 861 Canadian Banking International 31 31 31 34 34 3 41 7 -2 258 253 230 229 242 420 Banking 306 315 337 298 Global Banking 19 23 20 721 633 622 622 670 and Markets Global Wealth 20 22 22 18 8 8 21 21 23 18 Management All Bank 86 84 77 78 81 Q3/19 Q4/19 Q1/20 Q2/20 -44---4 Q3/20 International Banking Canadian Banking Global Banking and Markets 1 As a percentage of period end loans and acceptances 2 Prior to Q1/20, amounts for Global Wealth Management Retail were included in Canadian Banking Retail Global Wealth Management 17 15#18Net Write-Offs by Business Line NET WRITE-OFFS ($MM) 1,2 AND NET WRITE-OFFS RATIO1, 2, 3 50 bps 49 bps 54 bps 47 bps 47 bps 827 • 27 745 749 732 750 1 4 8 13 33 256 257 260 265 266 544 484 481 454 450 • YEAR-OVER-YEAR HIGHLIGHTS Net write-offs¹ were up 2% Q/Q and up 1% Y/Y O Higher write-offs in Global Banking and Markets offset by lower write-offs in International Banking Net write-offs ratio flat Q/Q and down 3 bps Y/Y Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 International Banking Canadian Banking Global Banking and Markets Global Wealth Management Net Write-Off Ratio by Business Line (bps) 1, 2, 3 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Canadian Banking International Banking 30 30 29 31 30 127 128 147 124 117 Global Banking and Markets 1 3 11 4 11 Global Wealth Management 2 All Bank 50 49 49 54 54 47 47 47 1 Net write-offs are net of recoveries 2 Prior to Q1/20, amounts for Global Wealth Management Retail were included in Canadian Banking Retail 3 As a percentage of average net loans and acceptances 18#19High quality portfolio. Key Messages Brian Porter President & CEO Well provisioned for potential credit losses Resilient capital ratios. Strong expense management 19#20COVID-19 in Core Markets 80,000 60,000 40,000 20,000 20 15 10 5 New Cases (1) 0 March April May June July New Cases/100K Population (1)(2) учирилм 0 March April .U.S. 1 Source: World Health Organization, John Hopkins University & Medicine (up to July 31, 2020) May PAC June Canada пили July 2 Source: World Bank 2017-2019 20 20#21COVID-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 School Restrictions: Restrictions: Closures: No Some Yes Quarantine Measures: No Curfew Restrictions: Some Travel Event School Restrictions: Restrictions: Closures: Yes Yes 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. Legend: Comprehensive Fiscal & Financial Support: 3.9% of GDP Key Measures: Liquidity programs, customer assistance programs, loan guarantees, tax holidays, small business programs. Partial Minor/None Source: Scotiabank Economics. 21 21#22Scotiabank Customer Activity 500 400 300 200 100 Canada: Daily Debit and Credit Card Transaction Volumes ($MM) Start of COVID-19 Lockdown 8,000 6,000 ཐ ཐཀཨདི ། 4,000 Nov Dec Jan Feb Mar Apr May Jun Jul 2020 ----2019 Business Banking Revolving Facilities Utilization Rate 2,000 Canada: New Mortgage and Auto Originations ($MM) 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 22 22#23Appendix 23#24Economic 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 24 24#25Macroeconomic Scenarios Select Macroeconomic Variables that Impact Expected Credit Loss Calculations Base Case Scenario Alternative Scenario - Optimistic Alternative Scenario - Pessimistic Alternative Scenario - Severe Pessimistic Next 12 months As at July 31, 2020 As at April 30, As at October 31, As at July 31, 2020 2019 2020 As at April 30, 2020 As at October 31, 2019 As at July 31, 2020 As at April 30, 2020 As at October 31, 2019 As at July 31, As at April 30, As at October 31, 2020 2020 2019 Canada Real GDP growth, y/y % change -0.1 -9.5 1.9 3.6 -7.9 2.4 -5.8 -14.1 1.3 -13.5 -19.1 n/a Unemployment rate, average % 9.1 11.7 5.8 7.8 11.2 5.6 12.1 14.3 6.1 15.9 16.6 n/a US Real GDP growth, y/y % change 1.8 -6.3 1.8 5.0 -4.6 2.3 -2.0 -9.9 1.4 -8.9 -14.9 n/a Unemployment rate, average % 9.6 11.1 3.9 8.9 10.7 3.7 11.0 13.1 4.0 13.5 15.1 n/a Global WTI oil price, average USD/bbl 41 27 54 46 28 56 56 35 23 53 31 20 n/a Next 12 months Canada Quarterly breakdown of the projections for the above macroeconomic variables, under the base case scenario: Base Case Scenario Calendar Quarters Average Calendar Quarters Q3 Q4 Q1 Q2 July 31 Q2 Q3 Q4 Q1 2020 2020 2021 2021 2020 2020 2020 2020 2021 Average April 30 2020 Real GDP growth, y/y % change -9.0 -5.1 -1.2 14.7 -0.1 -15.4 -11.5 -7.9 -3.3 -9.5 Unemployment rate, average % 12.3 9.6 7.7 6.8 9.1 13.3 13.2 11.0 9.2 11.7 US Real GDP growth, y/y % change Unemployment rate, average % -5.2 -2.5 1.0 13.8 1.8 -12.4 -7.7 -4.7 -0.4 -6.3 11.7 10.2 8.8 7.5 9.6 10.3 11.5 11.6 10.8 11.1 Global WTI oil price, average USD/bbl 38 39 42 44 41 22 24 29 34 27 27 Source: Scotiabank Economics, as at July 31, 2020. 25 45#26NIAT Excluding Divestitures 7,009 -4932 YTD-OVER-YTD1 All-Bank -23.8% YTD/YTD 6,516 5,023 -602 4,963 Q3/19 YTD Adj. NIAT Divestitures Related NIAT Q3/19 YTD Adj. NIAT ex. Divestitures Q3/20 YTD Adj. NIAT Divestitures Related NIAT Q3/20 YTD Adj. NIAT ex. Divestitures 1 Refer to Non-GAAP Measures on slide 45 for adjusted results 2 Includes divestiture related NIAT of Q3/20 YTD of $60 million in International Banking (Q3/19 YTD: $472 million); Q3/20 YTD of $nil in Global Wealth Management (Q3/19 YTD: $15 million) and Q3/20 YTD of $nil million in non-controlling interest (Q3/19 YTD: $6 million) 26#27Net Income and Adjusted Diluted EPS Quarterly diluted common shares outstanding may be impacted by dilutive effect of put options sold by the bank relating to minority interests the bank holds in the following legal entities: - Colpatria - BBVA Chile - Canadian Tire Financial Services (2) Impact on diluted EPS higher this quarter at 6 cents due to PCL driven loss in Colombia Net Income ($MM) and EPS ($ per Q3/19 Q2/20 Q3/20 share) Net Income attributable to common $1,839 $1,243 $1,332 shareholders 1 Dilutive impact of share-based $40 ($22) ($43) payment options and others Net Income attributable to common $1,879 $1,221 $1,289 shareholders (diluted) Weighted average number of 1,221 1,212 1,211 common shares outstanding Dilutive impact of share-based payment options and others 1 30 10 34 Weighted average number of diluted 1,251 1,222 1,245 common shares outstanding Reported Basic EPS $1.51 $1.03 $1.10 Dilutive impact of share-based (2) ($0.01) payment options and others ($0.03) ($0.06) Reported Diluted EPS $1.50 $1.00 $1.04 Impact of adjustments on diluted $0.38 $0.04 earnings per share¹ Adjusted Diluted EPS $1.88 $1.04 $1.04 1 Refer to Non-GAAP Measures on Slide 45 for adjusted results 27 27#28Adjusting Items - Pre-Tax Adjusting Items (Pre-Tax) ($MM) Acquisition-Related Costs Day 1 PCL on acquired performing financial instruments · International Banking Integration Costs Canadian Banking International Banking Global Wealth Management Amortization of Intangibles Canadian Banking International Banking Global Wealth Management Other Allowance for Credit Losses - Additional Scenario Canadian Banking International Banking Global Wealth Management Global Banking and Markets Derivative Valuation Adjustment Global Banking and Markets Other Impairment Charge on Software Asset Other Net Loss/(Gain) on Divestitures Other Total (Pre-Tax) 1 Excludes amortization of intangibles related to software (pre-tax) Q3/19 Q2/20 Q3/20 12 2262522 43 41 40 39 33 34 4 8 30 262 15 10 9 9 3552 320 320 393 68 (44) (44) 22 28#29Adjusting Items - After-Tax and NCI Q3/19 Q2/20 Tax NCI Q3/20 After-Tax and NCI - - 22 26 23 15 3 22 2477 11 9 7 8143 255240n 11 5 сл 10 5 1 Adjusting Items (After-Tax and NCI) ($MM) Acquisition-Related Costs Day 1 PCL on acquired performing financial instruments - International Banking Integration Costs Canadian Banking International Banking Global Wealth Management Amortization of Intangibles Canadian Banking International Banking Global Wealth Management Other Allowance for Credit Losses - Additional Scenario Canadian Banking International Banking Global Wealth Management Global Banking and Markets Derivative Valuation Adjustment Global Banking and Markets Other Impairment Charge on Software Asset Other Net Loss/(Gain) on Divestitures Other Total (After-Tax and NCI) 1 Excludes amortization of intangibles related to software (after-tax) 418 418 (1) (1) 466 40 18 5 LO 24 19 18 4 8 2256 +006 (43) (43) (1) 29 29#30Other Items Impacting Financial Results (Pre-Tax) ($MM) Canadian Banking Branch real estate gains Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q3/20 vs Q3/19 YTD20 vs YTD19 8 7 (15) Total 8 7 (15) International Banking One month reporting lag elimination 58 51 (7) Impact of closed divestitures 210 217 190 213 74 1 (189) (542) Total 268 217 190 213 125 1 (189) (549) Global Wealth Management One month reporting lag elimination Impact of closed divestitures 7 Total 7 20 20 20 3 3 155 9 110 9 (3) (29) 10 (3) (20) Other Metals business charges 20 Total 20 Total (Pre-Tax) 283 244 193 218 155 225 217 237 217 237 217 1 (192) (347) (After-Tax and NCI) ($MM)¹ Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q3/20 vs Q3/19 YTD20 vs YTD19 Canadian Banking Branch real estate gains Total 6 6 66 (12) (12) International Banking One month reporting lag elimination 41 37 (4) Impact of closed divestitures 163 162 147 159 59 1 (146) (412) Total 204 162 147 159 96 1 (146) (416) Global Wealth Management One month reporting lag elimination 6 6 Impact of closed divestitures 4 10 1 2 Total 4 10 1 2 16 (15) (1) (9) Other Metals business charges Total - Total (After-Tax and NCI) 214 178 Impact on diluted earnings per share $0.17 $0.14 148 $0.12 161 $0.13 222 20 212 232 20 212 - 232 122 212 1 (147) (205) $0.10 $0.17 ($0.12) ($0.16) 1 Items on this page have not been formally adjusted for determining the bank's Adjusted Net Income and Adjusted Diluted EPS 2 Pension and related insurance business in the Dominican Republic, sale of seven non-core markets in the Caribbean, Thanachart Bank in Thailand, pension fund operations in Colombia, operations in Puerto Rico and the U.S. Virgin Islands, insurance and banking operations in El Salvador, and operations in British Virgin Islands 30#31Revenue Growth: P&C Banking Canadian Banking1 -6% Y/Y International Banking 1, 2 -16% Y/Y³ 3,237 2,664 2,526 2,500 163 Flat 2,707 628 613 Y/Y 822 46 2,570 -76% 40 627 Y/Y 608 548 -34% Y/Y -8% Y/Y 2,036 1,913 2,253 1,873 2,052 1,982 -4% Y/Y Q3/19 Q2/20 Q3/20 Q3/19 Q2/20 Q3/20 Retail Commercial Latin America C&CA Asia Strong volume growth offset by lower net interest income and lower fee income 1 I May not add due to rounding Impacted by divested operations. Revenues excluding divestitures down 8% due to margin compression and lower non-interest income 2 Y/Y growth rates are on a constant dollar basis 3 Revenue growth of -21% Y/Y on a reported basis. International Banking constant currency revenue growth down 8% Y/Y excluding the impact of divestitures 31#32Revenue Growth: GWM and GBM Global Wealth Management Flat Y/Y1 Global Banking and Markets 2,3 +43% Y/Y 1,460 1,545 1,136 1,127 1,135 -25% +119% 190 156 143 Y/Y1 654 Y/Y 1,084 708 298 +25% 234 43 Y/Y +10% Y/Y 709 657 599 +5% 187 946 971 992 Y/Y Q3/19 Q2/20 Q3/20 Q3/19 Q2/20 Q3/20 Business banking Global Equities Canada International FICC Divestitures & slowdown in International operations offset by higher iTRADE brokerage fees Another strong trading quarter 1 Global Wealth Management revenue up 2% and International Wealth Management revenue down 14% excluding the impact of divestitures 2 GBM LatAm revenue contribution and assets are reported in International Banking's results 3 Adjusting for the derivative valuation adjustment and the additional forward-looking economic scenario 32 32#33Loan Growth by Business Line Canadian Banking International Banking1 Global Banking and Markets +7% +5% Y/Y² Y/Y +18% Y/Y 355 356 +10% 339 Y/Y 154 152 157 54 59 59 54 7 -13% +17% 8 71 69 70 69 Y/Y Y/Y 70 78 83 89 -1% -4% Y/Y Y/Y 111 109 10 10 9 -7% 93 +6% 24 207 218 221 Y/Y 22 21 21 Y/Y -2% 42 37 38 Y/Y Q3/19 Q2/20 Q3/20 Q3/20 Q3/19 Q2/20 Q3/19 Q2/20 Q3/20 Residential mortgages Personal loans Credit cards Business Strong loan growth mainly driven by residential mortgages and business lending Strong loan growth driven by Commercial Banking in Latin America. Total loans ex. Divestures up 13% Y/Y Continued strong loan growth Y/Y, focused in North America 1 Y/Y growth rates are on a constant dollar basis 2 Average loans & acceptances up 2% Y/Y on a reported basis. International Banking constant currency loans up 13% excluding the impact of divestitures 33#34Deposit Growth by Business Line Canadian Banking1 +10% Y/Y International Banking 1,2,3 Global Banking and Markets +2% Y/Y4 267 250 116 113 111 243 86 79 77 19 +11% Y/Y +7% Y/Y5 75 74 77 182 166 171 +9% Y/Y 41 -7% Y/Y5 36 36 Q3/19 Q2/20 Q3/20 Q3/19 Personal Q2/20 Q3/20 Non-Personal +46% Y/Y 148 125 101 Q3/19 Q2/20 Q3/20 Continued growth driven by both Personal & Non-Personal deposits 1 May not add due to rounding 2 Y/Y growth rates are on a constant dollar basis 3 Includes deposits from banks Deposit growth driven by Non- Personal deposits. Total deposits ex. Divestitures up 11% Y/Y 4 Average deposits declined -3% Y/Y on a reported basis. International Banking constant currency deposits up 11% excluding divestitures 5 International Banking constant currency deposits non-personal deposits up 12% Y/Y and personal deposits up 9% Y/Y excluding divestitures Continued focus on deposit generation, accelerated by customer liquidity requirements 34#35Global Wealth AUM/AUA Growth Assets Under Management Assets Under Administration 297 -1% Y/Y1 +2% Y/Y² 503 492 477 293 278 54 -35% 108 37 110 -2% 57 105 38 Y/Y1 Y/Y² 256 240 240 +7% Y/Y 395 +4% 382 372 Y/Y Q3/19 Q2/20 Q3/20 Canada Q3/19 Q2/20 Q3/20 International AUM down due to divestitures and the impact of customer assistance programs within our International operations, partially offset by market appreciation and strong net sales in Canada. AUA up primarily due to higher net sales and market appreciation. 1 Global Wealth Management AUM up 4% and International Wealth Management AUM down 10% excluding the impact of divestitures 2 Global Wealth Management AUA up 6% and International Wealth Management AUA up 14% excluding the impact of divestitures 35#36Sectors 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% $636.5B O Energy - E&P and Oilfield Services: 1.5% Real Estate - Office and Retail: 1.3% Transportation - Air Travel: 0.5% Hospitality & Leisure: 0.8% 7% Retail Real Estate $2.9 56% Other 1% 12% Europe Total² $8.5 59% Latin America Canada Other Hospitality & Leisure 23% 9% 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 Transportation: Mexico Canada Total COVID-19 High Impact: 4.1% Latin America 18% 6% C&CA 4% 6% $3.0B Other 12% (0.5%) 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 Air Travel $B %IG Aircraft Finance $1.4 99% Airlines $0.4 3% Airports $1.2 76% 54% Europe Total $3.0 76% 36#37Energy - E&P and OFS Exposure¹ Total Exploration & Production (E&P) Canadian E&P* U.S. E&P Oilfield Services (OFS) Total E&P and Oilfield Services Exposure² Loans and Acceptances Outstanding ($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%) C&CA 4.8 (0%) Majority of non-investment grade exposure is to secured reserve- based loans or sovereign owned/controlled entities 0.2 Europe E&P and OFS 0.4 (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 37 37#381.75% 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 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 0.44% 0.23% 0.23% 0.23% 0.25% 0.18% 2005 2006 2005 2006 2007 2006 Historical PCL Ratios on Impaired Loans 2007 2008 ALL BANK 1,2 0.57% 0.59% 0.47% 0.25% 0.24% 0.34% 0.36% 0.32% 0.40% 0.42% 0.50% 0.45% 0.43% 0.49% 0.56% 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 2 2002: Included $454 million related to the Bank's exposure to Argentina; 2009: Higher PCLS driven by economic conditions, event distributed across business lines. Higher general allowance and sectoral allowance (automotive related) 2014 2015 2016 2017 2018 1.27% 1.24% 1.26% 1.21% 1.29% 1.29% 1.44% 38 2019 Q320 YTD#39Canadian Retail: Loans and Provisions' MORTGAGES AUTO LOANS 224 216 96 85 85 11 1 00 14 2 78 84 94 99 105 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 LINES OF CREDIT² 164 169 96 72 80 70 73 87 74 73 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 PCL as a % of avg. net loans (bps) Mortgages Loan Balances Q3/20 Spot ($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 4 81% 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 $3183 63% 3% 94%4 39#40International Banking: Pacific Alliance 1, 2, 3 FINANCIAL PERFORMANCE AND METRICS ($MM) Q3/20 Q2/20 Q3/19 Q/Q Y/Y Revenue ($MM) 1,833 1,899 2,096 (2%) (5%) Expenses ($MM) 846 880 966 (3%) (3%) PTPP ($MM) 987 1,019 1,130 (2%) (6%) Net Income ($MM) 63 170 473 (60%) (86%) NIM 4.04% 4.32% 4.61% (28 bps) (57 bps) Productivity Ratio 46.1% 46.3% 46.1% (20 bps) 16% Colombia 28% Chile REVENUE $1.83B 27% Mexico GEOGRAPHIC DISTRIBUTION4 55% 29% Chile Peru 14% 10% Mexico Colombia NET INCOME1,3,5,6 $63MM 30% 39% Chile 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 Refer to Non-GAAP Measures on slide 45 for adjusted results 4 For the 3 months ended July 31, 2020 5 Percentage mix excludes Colombia which reported an adjusted loss for the 3 months ended July 31, 2020 6 May not add due to rounding AVG EARNING ASSETS4,6 $142B 29% Mexico 23% Peru 40 40#41GBM: Revenue and Average Assets REVENUE BY GEOGRAPHY1,2 4% Asia 6% Europe REVENUE (TEB) $1.5B 36% US ASSETS BY GEOGRAPHY1,2 54% 7% Canada Asia 14% Europe 1 For the 3 months ended July 31, 2020 2 GBM LatAm revenue contribution and assets are not included above as they are reported in International Banking's results AVG ASSETS $416B 34% US 45% Canada 41#42Digital Progress Winner of The Banker "Innovation in Digital Banking North America 1" award #1 ranking in Canada Online Banking Satisfaction Study (J.D. Power 2020) Leading mobile banking app in Canada4 Digital account opening and sales capabilities that reduces processing time by up to 75% in PAC Implemented various digital solutions to provide financial support and advisory to our customers during COVID-19 Digital Retail Sales² +2,700 bps 38 28 22 22 15 11 Digital Adoption³ +2,000 bps 46 39 33 29 26 2016 2017 2018 2019 Q3/20 2016 2017 2018 2019 Q3/20 Goal >50% Goal >70% 1 By the Banker magazine, a Financial Times publication 2 Canada: F2017 22%, F2018 26%, F2019 26% PACS: F2017 13%, F2018 19%, F2019 29% 3 Canada: F2017 36%, F2018 38%, F2019 42% PACS: F2017 20%, F2018 26%, F2019 35% 4 Based on weighted-average Apple Store and Google Play ratings (August 23, 2020) 42 42#43(# of days in quarter) Trading Results ZERO TRADING LOSS DAYS (Q3/20) TRADING REVENUE & ONE-DAY TOTAL VAR (Q3/20) 25 20 20 15 10 10 5 0 3 4 5 6 7 8 9 10 15 20 25 30 >30 Q3/20 Daily Trading Revenues ($MM) Millions Average 1-Day Total VaR Q3/20: $ 30.5 MM 50 40 30 52322 o 20 10 Q2/20: $ 34.2 MM Q3/19: $11.9 MM mushr -10 -20 -30 -40 -50 -60 1-day total VaR Actual Daily Revenue 43#44Retail 90+ Days Past Due Loans CANADA1 Q3/19 Q4/19 Q1/20 Q2/204 Q3/204 Mortgages 0.21% 0.20% 0.21% 0.21% 0.19% Personal Loans 0.54% 0.58% 0.63% 0.72% 0.63% Credit Cards 0.83% 0.98% 1.02% 1.12% 0.81% Secured and Unsecured Lines of Credit 0.26% 0.26% 0.25% 0.26% 0.23% Total 0.27% 0.28% 0.29% 0.30% 0.26% INTERNATIONAL Q3/192,3 Q4/192,3 Q1/202,3 Q2/202,3,4 Q3/202,3,4 Mortgages 3.23% 3.10% 2.65% 3.05% 2.94% Personal Loans 3.55% 3.59% 3.89% 4.04% 4.02% Credit Cards 3.19% 3.26% 3.26% 3.35% 2.72% TOTAL 3.31% 3.26% 3.22% 3.36% 3.18% 1 Includes Wealth Management 2 Includes acquisitions in Chile, Colombia 3 Includes acquisitions in Peru and Dominican Republic 4 Does not reflect impact of payment deferral programs 44#45Non-GAAP Measures The Bank uses a number of financial measures to assess its performance. Some of these measures are not calculated in accordance with Generally Accepted Accounting Principles (GAAP), which are based on International Financial Reporting Standards (IFRS), are not defined by GAAP and do not have standardized meanings that would ensure consistency and comparability among companies using these or similar measures. The Bank believes that certain non-GAAP measures are useful in assessing ongoing business performance and provide readers with a better understanding of how management assesses performance. These non-GAAP measures are used throughout this report and defined below. The slide presentation presents reconciliations of GAAP Reported financial results to non-GAAP Adjusted financial results. The financial results have been adjusted for the following: 1) Acquisition and divestiture-related amounts - Acquisition and divestiture-related amounts are defined as: A) Acquisition-related costs 1. Integration costs - Includes costs that are incurred and relate to integrating the acquired operations and are recorded in the Global Wealth Management and International Banking operating segments. These costs will cease once integration is complete. The costs relate to the following acquisitions: • • • . Banco Cencosud, Peru (closed Q2, 2019) Banco Dominicano del Progreso, Dominican Republic (closed Q2, 2019) MD Financial Management, Canada (closed Q4, 2018) Jarislowsky, Fraser Limited, Canada (closed Q3, 2018) Citibank consumer and small and medium enterprise operations, Colombia (closed Q3, 2018) BBVA, Chile (closed Q3, 2018) 2. Amortization of Acquisition-related intangible assets, excluding software. These costs relate to the six acquisitions above, as well as prior acquisitions and are recorded in the Canadian Banking, Global Wealth Management and International Banking operating segments. 3. Day 1 provision for credit losses on acquired performing financial instruments, as required by IFRS 9 and are recorded in the Canadian and International Banking operating segments. The standard does not differentiate between originated and purchased performing loans and as such, requires the same accounting treatment for both. These credit losses are considered Acquisition-related costs in periods where applicable. The costs for Q2, 2019 relate to Banco Cencosud, Peru and Banco Dominicano del Progreso, Dominican Republic. The costs for Q3, 2018 relate to BBVA, Chile and Citibank, Colombia. B) Net (gain)/loss on divestitures - The Bank announced a number of divestitures in 2019 in accordance with its strategy to reposition the Bank. The gain/loss on the divestitures is recorded in the Other segment, and relates to the following divestitures (refer to Note 21 for further details): • Operations in British Virgin Islands (closed Q3, 2020) Operations in Belize (announced Q3, 2020) Equity-accounted investment in Thanachart Bank, Thailand (closed Q1, 2020) • Colfondos AFP, Colombia (closed Q1, 2020) Operations in Puerto Rico and USVI (closed Q1, 2020) Insurance and banking operations in El Salvador (closed Q1, 2020) • Banking operations in the Caribbean (closed Q4, 2019) 2) Allowance for credit losses (ACL) - Additional Scenario - The Bank modified its ACL measurement methodology in Q1, 2020 by adding an additional, more severe pessimistic scenario, consistent with developing practice among major international banks in applying IFRS 9, and the Bank's prudent approach to expected credit loss provisioning. The modification resulted in a pre-tax increase in provision for credit losses of $155 million, which was recorded in Canadian Banking, Global Wealth Management, International Banking and Global Banking and Markets operating segments. 3) Derivative Valuation Adjustment - The Bank enhanced its fair value methodology primarily relating to uncollateralized OTC derivatives which resulted in a pre-tax charge of $116 million in Q1, 2020. This charge was recorded in the Global Banking and Markets and Other operating segments. 4) Impairment charge on software asset -The Bank recorded an impairment loss in the Other operating segment of $44 million pre-tax in Q1, 2020, related to one software asset. 45#46Investor Relations Contact Information Philip Smith, Senior Vice-President 416-863-2866 [email protected] Judy Lai, Director 416-775-0485 [email protected] 46