#1Investor Presentation May 2022 Scotiabank®#2Caution Regarding Forward-Looking Statements Forward-looking statements From time to time, our public communications often include oral or written forward-looking statements. Statements of this type are included in this document and may be included in other filings with Canadian securities regulators or the U.S. Securities and Exchange Commission, or in other communications. In addition, representatives of the Bank may include forward-looking statements orally to analysts, investors, the media and others. All such statements are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. Forward-looking statements may include, but are not limited to, statements made in this document, the Management's Discussion and Analysis in the Bank's 2021 Annual Report under the headings "Outlook" and in other statements regarding the Bank's objectives, strategies to achieve those objectives, the regulatory environment in which the Bank operates, anticipated financial results, and the outlook for the Bank's businesses and for the Canadian, U.S. and global economies. Such statements are typically identified by words or phrases such as "believe," "expect," "foresee," "forecast," "anticipate,” “intend," "estimate," "plan," "goal," "project," and similar expressions of future or conditional verbs, such as "will," "may," "should," "would" and "could." By their very nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, which give rise to the possibility that our predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that our assumptions may not be correct and that our financial performance objectives, vision and strategic goals will not be achieved. We caution readers not to place undue reliance on these statements as a number of risk factors, many of which are beyond our control and effects of which can be difficult to predict, could cause our actual results to differ materially from the expectations, targets, estimates or intentions expressed in such forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: general economic and market conditions in the countries in which we operate; changes in currency and interest rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the failure of third parties to comply with their obligations to the Bank and its affiliates; changes in monetary, fiscal, or economic policy and tax legislation and interpretation; changes in laws and regulations or in supervisory expectations or requirements, including capital, interest rate and liquidity requirements and guidance, and the effect of such changes on funding costs; changes to our credit ratings; operational and infrastructure risks; reputational risks; the accuracy and completeness of information the Bank receives on customers and counterparties; the timely development and introduction of new products and services, and the extent to which products or services previously sold by the Bank require the Bank to incur liabilities or absorb losses not contemplated at their origination; our ability to execute our strategic plans, including the successful completion of acquisitions and dispositions, including obtaining regulatory approvals; critical accounting estimates and the effect of changes to accounting standards, rules and interpretations on these estimates; global capital markets activity; the Bank's ability to attract, develop and retain key executives; the evolution of various types of fraud or other criminal behaviour to which the Bank is exposed; disruptions in or attacks (including cyber-attacks) on the Bank's information technology, internet, network access, or other voice or data communications systems or services; increased competition in the geographic and in business areas in which we operate, including through internet and mobile banking and non-traditional competitors; exposure related to significant litigation and regulatory matters; climate change and other environmental and social risks, including sustainability that may arise, including from the Bank's business activities; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; the emergence of widespread health emergencies or pandemics, including the magnitude and duration of the COVID-19 pandemic and its impact on the global economy, financial market conditions and the Bank's business, results of operations, financial condition and prospects; and the Bank's anticipation of and success in managing the risks implied by the foregoing. A substantial amount of the Bank's business involves making loans or otherwise committing resources to specific companies, industries or countries. Unforeseen events affecting such borrowers, industries or countries could have a material adverse effect on the Bank's financial results, businesses, financial condition or liquidity. These and other factors may cause the Bank's actual performance to differ materially from that contemplated by forward-looking statements. The Bank cautions that the preceding list is not exhaustive of all possible risk factors and other factors could also adversely affect the Bank's results, for more information, please see the "Risk Management" section of the Bank's 2021 Annual Report, as may be updated by quarterly reports. Material economic assumptions underlying the forward-looking statements contained in this document are set out in the 2021 Annual Report under the headings "Outlook", as updated by quarterly reports. The "Outlook" sections are based on the Bank's views and the actual outcome is uncertain. Readers should consider the above-noted factors when reviewing these sections. When relying on forward-looking statements to make decisions with respect to the Bank and its securities, investors and others should carefully consider the preceding factors, other uncertainties and potential events. Any forward-looking statements contained in this document represent the views of management only as of the date hereof and are presented for the purpose of assisting the Bank's shareholders and analysts in understanding the Bank's financial position, objectives and priorities, and anticipated financial performance as at and for the periods ended on the dates presented and may not be appropriate for other purposes. Except as required by law, the Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by or on its behalf. Additional information relating to the Bank, including the Bank's Annual Information Form, can be located on the SEDAR website at www.sedar.com and on the EDGAR section of the SEC's website at www.sec.gov. 2#3TABLE OF CONTENTS Scotiabank Overview Business Line Overview: Canadian Banking Business Line Overview: International Banking + 22 27 27 Business Line Overview: Global Wealth Management Business Line Overview: Global Banking and Markets Risk Overview Treasury and Funding Appendix 1: Core Markets: Economic Profiles Appendix 2: Canadian Economic Fundamentals Appendix 3: Bail-in and TLAC Appendix 4: Covered Bonds Appendix 5: Additional Information Contact Information 55 35 39 42 48 46 55 55 66 72 76 80 83 83 3#4Scotiabank Leading Bank in the Americas Core Markets¹ Business Lines2,3 #3 in Canada #3 in P&C Banking #3 in Peru #3 in Chile #3 in Capital Markets #5 in Mexico #6 in Colombia #3 in Wealth 1 Core Markets rankings based on latest available market share data on loans for publicly traded banks as of January 2022 in Canada, March 2022 in Mexico, Peru and Chile, February 2022 in Colombia 2 Business Line rankings based on Total Revenue or Total Net Income for publicly traded banks in Canada for the 3 months ended January 31, 2022 3 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on 4#5Leading Bank in the Americas¹ Core markets: Canada, US, Mexico, Peru, Chile and Colombia 7th largest bank by assets¹ in the Americas Full-Service, Universal Bank Canada Mexico Peru Chile Colombia Caribbean Uruguay Scotiabank (Reported) Change 2022YTD YTD/YTD Revenue $15,991MM +1% Net Income $5,487MM +13% Return on Equity 16.1% +160 bps Operating Leverage² -0.4% n.a. Productivity Ratio² 52.4% +20 bps Total Assets $1.3T +3% CET1 Ratio³ 11.6% (70 bps) Ranking by Market Share4 Wholesale Operations USMCA Canada USA5 #3 Top 10 FBO USA UK Mexico #5 Pacific Alliance Peru #3 Singapore Countries Chile #3 Australia Ireland Colombia #6 Hong Kong SAR China Brazil India Japan (PAC) Earnings by Market6,7 1 Ranking by asset as at May 18, 2022, Bloomberg; 2 Refer to page 51 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 3 This measure has been disclosed in this document in accordance with OSFI Guideline - Capital Adequacy Requirements (November 2018); 4 Ranking based on market share in loans as of March 2022 in Mexico, Peru and Chile, February 2022 in Colombia, as of January 2022 in Canada for publicly traded banks; 5 Ranking by asset as of December 2021; 6Net income attributable to equity holders of the Bank for the 6 months ended April 30, 2022; 7 May not add due to rounding Other C&CA PAC 3%5% 20% 6% 65% Canada U.S.A 5#6Well-Diversified Business with Strong Returns Earnings by Business Line¹ Earnings by Market¹,2 Colombia Asia Caribbean and Central America (C&CA) 3% 1% 1% Global Wealth Management 15% Brazil Peru and Other 4% 4% Chile Personal & 8% Canadian Commercial Global Q2/22 YTD Banking Banking Banking and Markets 18% EARNINGS MIX 44% 67% $5.3Bn³ Mexico 7% U.S. 6% Q2/22 YTD EARNINGS MIX $5.3Bn³ International Banking 23% YTD Reported 27.2% Return on Equity 17.4% by Business Line 16.5% 16.1% 21.2% 12.7% 14.9% 14.3% 12.7% 9.5% 3-year average ROE Global Wealth Management 1Net income attributable to equity holders for the 6 months ended April 30, 2022; 2 May not add due to rounding;³ Excludes Other segment Canadian Banking International Banking Global Banking and Markets All Bank Canada 65% 6#7Business Lines (Q2/22 YTD Reported Results) Activity Business Line Products NIAEH¹ ($MM) Personal & Commercial Banking Wealth Management Canadian Banking Mortgages • Auto Loans • Commercial Loans • Personal Loans • International Banking Mortgages Auto Loans Commercial Loans Personal Loans Credit Cards Global Wealth Management Asset Management • Private Banking . Private Investment Counsel Brokerage Capital Markets Global Banking and Markets Corporate Banking Advisory Equities Fixed Income Foreign Exchange Commodities $1,049 • Credit Cards . Trust $2,380 $1,150 $819 % All-Bank¹ 44% 21% 15% 19% % Target 35-40% 25-30% ~15% 15-20% Productivity 45.1% 53.1% 59.9% 49.6% Ratio 1,2 ROE1,2 27.2% 12.7% 17.4% 16.5% Total Assets³ ($B) $417.4 $199.9 $31.9 $437.9 Employees4 18,683 42,574 7,726 2,117 1 For the 6 months ended April 30, 2022; 2 Refer to page 51 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; ³Average balance for the 6 months ended April 30, 2022; 4 As of April 30, 2022 7#8Why Invest in Scotiabank? Leading bank in the Americas • Six core markets: Canada, US, Mexico, Chile, Peru and Colombia ~93% of earnings from the Americas Only universal bank with full presence in all Pacific Alliance countries Diversified exposure to high quality growth markets Unique Americas footprint provides diversified exposure to higher growth, high ROE banking markets 232 million people in the Pacific Alliance countries comprise the 6th largest economy in the world , • Increasing scale and market share in core markets • • $ Strong risk culture: solid credit quality, well provisioned * Acceleration in Digital Banking • Competitive scale and increasing market share in core markets Competitive advantages in technology, risk management and funding versus competitors Strong Canadian risk management culture with strong capabilities in AML and cybersecurity • Focus on secured and investment-grade lending • $5.4 billion in allowances for credit losses as of Q2/22 • • Increased Digital Adoption to 57% in Q2/22 (up 300 bps Y/Y) Won "Best Use of Technology for Customer Experience – Overall” by The Digital Banker's Global Digital CX Banking Awards 2022 Named "Best Digital Bank - Mexico" by The Digital Banker's Global Retail Banking Innovation Awards 2021 • Recognized for "Best Al Initiative" by The Digital Banker's Global Retail Banking Innovation Awards 2021 8#9Focused on Higher Return Markets 35% 30% 25% Scotiabank P&C Banking Focused On Higher ROE Markets 20% 32.8% 15.7%² 15% 10% 5% 0% Canada1 10.2%4 5 13.1% 12.8%³ Pacific Alliance Average FY21 ROE of Canadian banks in each market US Average 10-Year ROE of largest banks in each market 1 Average FY21 ROE of RY, TD, BMO, CM, and BNS 2 Average 10-year ROE of Banorte, Banbajio, Santander Mexico, Credicorp, Bancolombia, Santander Chile and Banco de Chile 3 FY21 ROE of BNS' PAC segment 4 Average 10-year ROE of JP Morgan, BofA, Citi, Wells Fargo, Truist, US Bancorp, PNC, Fifth Third, M&T and Comerica 5 Average FY21 ROE of TD, BMO and CM's US Banking segment Sources: Company Financial Reports 9#10Q2 2022 Financial Performance $MM, except EPS Q2/22 Y/Y Q/Q Reported Net Income $2,747 12% Pre-Tax, Pre-Provision Profit¹ $3,783 2% (1%) • Diluted EPS $2.16 15% 1% Revenue $7,942 3% (1%) Expenses $4,159 3% (2%) Productivity Ratio² 52.4% 20 bps (10 bps) Net Interest Margin³ 2.23% (3 bps) 7 bps PCL Ratio² 13 bps (20 bps) PCL Ratio on Impaired Loans² 24 bps (56 bps) Adjusted³ Net Income $2,765 12% Pre-Tax, Pre-Provision Profit $3,807 2% (1%) Diluted EPS $2.18 15% 1% Expenses $4,135 3% Productivity Ratio 52.1% 20 bps (2%) (10 bps) • REPORTED NET INCOME YEAR-OVER-YEAR ($MM) YEAR-OVER-YEAR HIGHLIGHTS EPS up a strong 15% Pre-tax, pre-provision profit up 2% Revenue up 3% o Net interest income up 7%, driven by strong 13% loan growth o Non-interest income down 3% o Lower investment gains, trading revenues and underwriting and advisory fees o Banking and wealth management revenues increased 7% NIM up 7 bps Q/Q Expenses up 3% (down 2% Q/Q) Strong reported ROE of 16.2% (adjusted ROE³ of 16.4%) REPORTED NET INCOME4 BY BUSINESS SEGMENT ($MM) 277 Q2/21 Q2/22 297 +27% (91) (117) (75) +9% -6% +50% 2,747 2,456 1,179 927 372 407 517 488 403 605 Q2/21 Net interest Non-interest Income income PCLS Non-interest expenses Taxes Q2/22 Canadian Banking Global Wealth Management Global Banking and Markets International Banking (Constant FX) 3 1 Pre-Tax, Pre-Provision Profit defined as revenues less expenses 2 Refer to page 51 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 3 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on http://www.sedar.com 4 Attributable to equity holders of the Bank 10#11Earnings and Dividend Growth Reported diluted earnings per share (C$)1,2 $4.53 2014 +5% CAGR 2015 2016 2017 2018 2019 2020 Dividend per share (C$) $2.05 $7.70 Total shareholder return³ ■Scotiabank ■Big 5 Peers (ex. Scotiabank) 6.5% $4.30 2021 22YTD +6% CAGR 11.4% 8.9% 12.8% 11.3% 10.1% 5 Year 10 Year 20 Year $3.60 $1.03 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 22YTD 1 Reflects adoption of IFRS in Fiscal 2011; 2 Excludes notable items for years prior to 2016; 3 As of April 30, 2022 $2.00 Announced 11#12Strong Capital Position CETI ratio of 11.6%¹ Q/Q CHANGE IN CET1 RATIO (%) 31 bps 12.0% (33 bps) 7 bps 11.6% (28 bps) (11 bps) (10 bps) Q1 2022 Earnings less RWA Growth Share Reported dividends (ex. FX) buybacks Increased FVOCI ownership securities in Pension & Other Q2 2022 Reported Internal capital generation Scotiabank Chile 433.7 Q/Q CHANGE IN RISK WEIGHTED ASSETS ($Bn) 15.2 (2.4) 0.2 (1.8) 0.4 445.3 Q1 2022 Business Growth Net Credit Migration FX & Other Market Risk Operational Q2 2022 Risk Internal capital generation supported strong organic growth in all of the business lines. Capital deployment of ~39 bps during the quarter: 28 bps Repurchased 13.9 million common shares in Q2 2022 (YTD -53 bps) 11 bps - Increased ownership in Scotiabank Chile 1 This measure has been disclosed in this document in accordance with OSFI Guideline - Capital Adequacy Requirements (November 2018) RWA increased $11.6 billion Q/Q, due primarily to strong organic RWA growth of $15.2 billion across all business lines 12 12#13Scotiabank in the Pacific Alliance Q2/22 Scotiabank Market Share¹ Chile Mexico Peru Colombia 14.4% Market Share Ranking¹ 3rd Strengths All Products 7.8% 5th Auto and Mortgages 16.7% 5.4% Pacific Alliance Total/Average 10.7% 3rd All Products 6th n.a. Credit Cards, Personal All Products Average Total Loans 2,8 (C$B) Revenue³,8 (C$B) $48.6 $0.5 $33.6 $21.6 $12.1 $115.9 $0.6 $0.4 $0.3 $1.7 Net Income after NCI³,8 (C$MM) $226 $192 $95 $21 $533 ROE³,9 15.4% 24.1% 13.9% 6.1% 16.2% # of Employees 4,5 7,586 9,343 8,853 5,747 Total Deposit Growth 6,7,8 Total Loan Growth 6,7,8 Productivity Ratio⁹ 31,529 Total PTPP Growth 6,7,10 11% 6% Y/Y Y/Y 66% 12% Y/Y 116 113 58% 61% 76 79 104 74 12 12 52% 49% 934 955 9 10 10 10 856 47% 90 107 44% 41% 24 21 21 22 47 49 43 49 40% 107 39% 38% 324 328 37% 267 16 16 16 20 21 21 22 22 237 226 229 28 20 30 32 30 33 34 282 293 253 Q2/21 Q1/22 Q2/22 Q2/21 Q1/22 Q2/22 Q2/21 Q1/22 Q2/22 Q2/21 Q1/22 Q2/22 Mexico Peru Chile Colombia 1 Ranking based on publicly traded banks by total loans market share, as of March 2022; except Colombia as of February 2022; 2 For the three months ended April 30, 2022; 3 For the three months ended April 30, 2022, not adjusted for currency; 4 Employees are reported on a full-time equivalent basis; 5 As of April 30, 2022; 6 Figures are on a constant dollar basis; 7 May not add due to rounding; 8 Figures excluding Wealth Management; Refer to page 51 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 10 Pre-Tax, Pre-Provision Profit defined as revenues less expenses 13#14Digital Progress: All-Bank Canada: Increase in Digital Sales, supported by greater Digital Adoption, Active Digital Users and Active Mobile Users Pacific Alliance: Strong momentum in Digital Sales, driven by Peru, and Active Mobile Users, driven by Colombia +9% Digital Adoption (%)¹ 7,524 8,073 8,356 7,676 +300 bps Active Digital Users (#'000) 6,316 5,276 +58% 56% 54% 57% 50% 2018 2019 2020 2021 Q2/21 Q2/22 43% 36% +2,100 bps +13% 2018 2019 2020 2021 Q2/21 Q2/22 6,727 7,057 Active Mobile Users (#000)2 5,903 6,221 4,513 3,559 Digital Sales (%) +500 bps +98% 2018 2019 2020 2021 Q2/21 Q2/22 +200 bps 47% 42% 42% 36% 28% +2,500 bps 22% Self-Serve Transactions (%) 89% 90% 89% 91% 76% 80% +1,500 bps 2018 2019 2020 2021 Q2/21 Q2/22 2018 2019 2020 2021 Q2/21 Q2/22 1 Digital Adoption definition for Canada was updated in Q1/21 to reflect new addressable customer base, excluding indirect-channel acquisitions 22018 and 2019 use historical estimation based on available mobile user data for Colombia and Chile 14#15Digital Progress: Canada Digital Adoption (%)¹ +7% +200 bps Active Digital 3,329 3,599 3,847 4,071 3,960 4,222 Users (#'000) +27% 59% 55% 58% 60% 50% 46% 2018 2019 2020 2021 Q2/21 Q2/22 +1,400 bps +8% 2018 2019 2020 2021 Q2/21 Q2/22 Active Mobile Users (#'000) 3,073 3,393 3,242 3,488 2,396 2,666 Digital Sales (%) +46% +300 bps 2018 2019 2020 2021 Q2/21 Q2/22 29% +0 bps 26% 26% 26% 23% +300 bps 16% Self-Serve Transactions (%) 84% 87% 92% 93% 93% 93% +900 bps 2018 2019 2020 2021 Q2/21 Q2/22 2018 2019 2020 2021 Q2/21 Q2/22 Definitions Digital Sales (% of retail unit sales using Digital platforms, excluding auto, broker originated mortgages and mutual funds) Digital Adoption (% of customers with Digital login (90 days) / Total addressable Customer Base) Digital Users: # of customers who logged into website and/or mobile in the last 90 days Mobile Users: # of customers who logged into mobile in the last 90 days Self-serve Transactions: % of Financial transactions through Digital, ABM, IVR 1 Digital Adoption definition for Canada was updated in Q1/21 to reflect new addressable customer base, excluding indirect-channel acquisitions 15#16Digital Progress: Pacific Alliance +11% Active Digital Users (#'000) 3,677 4,002 4,133 3,716 2,717 1,947 55% +112% 2018 2019 2020 2021 Q2/21 Q2/22 Digital Adoption (%) +600 bps 53% 49% 46% 35% +2,900 bps 26% +20% 2018 2019 2020 2021 Q2/21 Q2/22 Active Mobile Users (#'000)1 3,334 3,569 2,830 2,978 1,847 1,163 +207% Digital Sales (%) 2018 2019 2020 2021 Q2/21 Q2/22 +700 bps 61% +300 bps 55% 54% 51% 29% +4,200 bps Self-Serve Transactions 86% 88% 86% 89% 69% 73% 19% (%) +2,000 bps 2018 2019 2020 2021 Q2/21 Q2/22 2018 2019 2020 2021 Q2/21 Q2/22 Definitions Digital Sales (% of retail unit sales using Digital platforms) Digital Adoption (% of customers with Digital login (90 days) / Total addressable Customer Base) Digital Users: # of customers who logged into website and/or mobile in the last 90 days Mobile Users: # of customers who logged into mobile in the last 90 days Self-serve Transactions: % of Financial transactions through Digital, ABM, IVR, POS 12018 and 2019 use historical estimation based on available mobile user data for Colombia and Chile 116 16#17Technology Strategy Co Build a strong and • scalable platform foundation Cloud-first strategy for automation and speed Investments in Technology • $ Rebalance core technology spending towards modernization Maintain consistent investment in technology Tech expense 12.3% as % of revenue 10.3% 8.3% $3,833 $2,690 $1,444 Tech expense (in $millions) 2011 2016 2021 Common systems Software re-use, best practice-sharing Consistent software design Customer-focused micro-services Analytics on real-time data Strong cyber-security foundation 17 17#18Fintech Strategy • Embracing Fintech Scotiabank has embraced fintech and technology start- ups, acting as an advisor, partner, investor and customer The key objectives of Scotiabank's fintech strategy are: o Identify innovative companies, trends and business models early o Test, learn and implement fintech innovations o Drive an innovation culture at the Bank • Partnership Approach Scotiabank partners with VCs to amplify our relevance and reach in the global ecosystem, enabling earlier and faster access to innovative companies Canada High-growth enterprise software firms in analytics, machine learning and enterprise software Israel High growth tech companies in fintech and cybersecurity Latam Early-stage start-ups in digital banking and fintech Sample Focus Areas • Credit adjudication • • Machine-learning modelling IT Modernization • Accessibility Natural language processing Personal financial management Customer experience and self-service Sample Partnerships • Fraud Anti-Money Laundering A platform that provides insights and actionable money management A platform that enables data scientists to develop and test models faster - Auto machine learning A platform that specializes in behavioural biometrics for AML & Fraud purposes 18#191 • ESG Highlights Environmental Mobilized $58 billion¹ since November 1, 2018, toward our increased commitment of $350 billion by 2030 to reduce the impacts of climate change Released the Net-Zero Pathways Report that outlines our approach to become a net-zero bank by 2050, including quantitative, time-bound targets for reducing GHG emissions in the Bank's own operations and lending activities Achieved 25% reduction of Scope 1 and 2 GHG emissions (from 2016 levels), four years ahead of our 2025 target Committed to achieve net-zero emissions in our operations by 2030, including securing 100% non- emitting electricity in Canada by 2025 and globally by 2030 A member of the Partnership for Carbon Accounting Financials (PCAF) and the United- Nations-convened Net-Zero Banking Alliance (NZBA), participating in the global efforts of the financial sector to address climate change Pledged $25 million in investment community partnerships to enable climate-related systems change and sector decarbonization, including a dedicated $10 million Net Zero Research Fund Joined Climate Engagement Canada and Circular Economy Leadership Canada CDP DRIVING SUSTAINABLE ECONONIES As at November 2021. UN EQUATOR PRINCIPLES environment programme finance initiative • • • Social Issued the largest Sustainability Bond by a Canadian Financial or Corporate in 2021, a USD$1 billion 3-year bond to fund green and social assets, including the advancement of women-led businesses Celebrated the third successful year of the Scotiabank Women Initiative, which has deployed $3.8 billion in capital to women-owned and women-led businesses in Canada since its launch in 2018 Supported Chile, the world's largest sovereign social bond issuer, to issue social bonds totaling USD$12.8 billion Invested $26 million, supporting 200+ organizations in the first year of Scotia RISE, a 10- year, $500 million initiative to promote economic resilience among disadvantaged groups within our $77 million community investment program Improved employee benefits coverage for mental health, gender affirmation healthcare and improved maternity and parental leave top-up pay Included in Bloomberg's Gender-Equality Index (GEI) for the 4th straight year, and ranked 14th in Refinitiv's Diversity and Inclusion Global Index Member of Dow Jones Sustainability Indices Powered by the S&P Global CSA Corporate ESG Performance • Governance For the fourth consecutive year, achieved top 1% in Corporate Governance among financial institutions globally according to the Dow Jones Sustainability Index, and awarded a perfect score on Anti-Crime Policies Updated our global Human Rights Statement, improving alignment with best practices and the UN Guiding Principles Reporting Framework A corporate ESG committee, ultimately reporting to the Board, oversees the Bank's ESG strategy implementation 38% of Board directors are women. An ESG update by Senior Management is a standing item on the Board agenda Implemented a suite of processes and assessment tools to ensure the Bank's use of data and analytics adheres to good governance, responsible Al practices and ethical expectations Support the groundbreaking work of Project Shadow and Project Umbra to improve financial intelligence to combat human trafficking and online exploitation Awarded Best Corporate Sustainability Strategy at the ESG Investing Awards 2022 PRI MSCI AAA Prime RATED BY ESG RATINGS ISS ESG▷ ссс B BB BBB AA AAA Bloomberg Gender-Equality 2021 REFINITIV TOP 100 COMPANY 2020 Diversity and Inclusion Index TCFD TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES Note: The use by Scotiabank of any MSCI ESG Research LLC or its affiliates ("MSCI") data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of Scotiabank by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided 'as-is' and without warranty. MSCI names and logos are trademarks or service marks of MSCI. 19#20ESG Spotlight - Retail Banking Housing 1 Green Vehicles ESG Investing Focus Areas Leadership in ESG Education Leadership in ESG Funds Leadership in EV Incentives . Recent Achievements Introduced Canada's first sustainable investing tools through Scotiabank's iTrade in 2017. Over 20,000 users interacted with the sustainable investing tool in 2020 Published Scotia Global Asset Management's inaugural Stewardship and Responsible Investment Report on February 23, 2022 Launched Dynamic Sustainable Credit Private Pool on January 27, 2022, with further equity versions planned in coming months Launched Scotia SRI ETFs in January with Tangerine as the key initial distribution partner (suite of 4 ETFs) FYTD as of April 2022, EV loans represented 8.5% of our total Auto bookings and were 9.8% of the total amount financed; in comparison, EV represented 6.4% of our total Auto bookings and 7.4% of the total amount financed throughout FY2021 Scotiabank's booking growth for electric vehicles was 55% Y/Y in the first half of FY2022, compared to the Y/Y growth of 70% we experienced in the same period in FY2021 Leadership in EV Financing We have an exclusive relationship with Polestar and Rivian as well as a semi-exclusive relationship with Tesla Leadership in Indigenous Financial Services Leadership in Newcomers Banking Scotiabank operates 27 Indigenous Financial Centres in Canada providing communities with our full range of banking services The First Nations Leasehold program provides financing options for leasehold interests on First Nations land being developed with residential housing Scotiabank's StartRightⓇ program addresses the unique banking needs of newcomers in Canada The Scotiabank StartRightⓇ permanent resident mortgage program and the Scotiabank StartRightⓇ temporary resident mortgage program help facilitate newcomers' financing of home purchases 20#21Business Line Overview Canadian Banking 21 21#22Canadian Banking Canadian Banking provides a full suite of financial advice and banking solutions, supported by an excellent customer experience, to over 10 million Retail, Small Business and Commercial Banking customers. It serves these customers through its network of 951 branches and 3,742 automated banking machines (ABMS), as well as online, mobile and telephone banking, and specialized sales teams. Canadian Banking also provides an alternative self directed banking solution to over 2 million Tangerine Bank customers. Business Mix Retail 75% Residential Mortgages Financial Results 65% $MM Q2/22 Y/Y Q/Q Q2/22 Revenue Mix $2.9Bn Q2/22 25% Business Banking Average Loan Mix $420Bn 15% Business and Government Loans 2% Other Personal Credit Cards Loans 10% Auto 8% Reported Net Income¹ $1,179 Pre-Tax, Pre Provision Profit² Revenue 27% (2%) $1,579 13% (1%) $2,903 11% 1% Expenses $1,324 8% 3% PCLS ($12) nmf 67% Reported Net Income¹ ($MM) and NIM4 (%) Productivity Ratio³ 45.6% (120 bps) 100 bps 2.26% 2.23% 2.20% 2.19% 2.22% Net Interest Margin 4 2.22% (4 bps) 3 bps PCL Ratio 3,5 (1 bp) (17 bps) 2 bps PCL Ratio on Impaired 927 1,079 1,238 1,201 1,179 13 bps (14 bps) 1bp Loans 3,5 Adjusted4 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Net Income¹ $1,183 27% (2%) Medium-Term Financial Objectives Net Income Growth 1,4 Target6 Pre-Tax, Pre Provision Profit Expenses Productivity Ratio $1,584 13% (1%) $1,319 8% 3% 45.4% (120 bps) 100 bps 5%+ Productivity Ratio4 Operating Leverage4 <44% Positive 1 Net income attributed to equity shareholders; 2 Pre-Tax, Pre-Provision Profit defined as revenues less expenses; 3 Refer to page 51 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 4 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on http://www.sedar.com; 5 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures; 63-5 year target from 2020 Investor Day 22 22#23Loan Portfolio • ● High Quality Residential Mortgage Portfolio 。 28% insured; remaining 72% uninsured has an LTV of 47%¹ 。 Mortgage business model is “originate to hold" o New originations² in Q2/22 had average uninsured LTV of 63% o Majority is freehold properties; condominiums represent approximately 15% of the portfolio Market Leader in Auto Loans 。 $38.8 billion retail auto loan portfolio with 9 OEM relationships (5 exclusive) o Prime Auto and Leases (~92.7%) o Stable lending tenor with contractual terms for new originations averaging 80 months (~6.5 years) with projected effective terms of 54 months (4.5 years) Prudent Growth in Credit Cards 。 $6 billion 5 credit card portfolio represents ~2% of domestic retail loan book and ~1% of the Bank's total loan book o Organic growth strategy focused on payments and deepening relationships with existing customers 84% Real Estate Secured Lending DOMESTIC RETAIL LOAN BOOK³ $375Bn 3% Unsecured 2% Credit Cards 11% Automotive 1 LTV calculated based on the total outstanding balance secured by the property. Property values indexed using Teranet HPI data 2 New originations defined as newly originated uninsured residential mortgages and have equity lines of credit, which include mortgages for purchases refinances with a request for additional funds and transfer from other financial institutions 3 Spot Balance as of April 30, 2022; Percentages may not add to 100% due to rounding 4 Net of allowance for credit losses 5Spot balance for Q2/22 23#24Residential Mortgages • Four Distinct Distribution Channels: Broker, Branch, Mobile Salesforce and eHOME. Broker and Mobile Salesforce account for more than 80% of the distribution FICO® Distribution - Canadian Uninsured Portfolio¹ New Canadian Mortgage Originations 64% Q2-21 Q1-22 Q2-22 Average FICO® Score Canada 793 GTA 796 GVA 794 Canada Total Originations ($Bn) Uninsured LTV2 16.9 19.9 17.5 64% 64% 63% Greater Toronto Area 16% 10% 8% 2% < 635 636-706 707-747 748-788 > 788 Total Originations ($Bn) Uninsured LTV2 Greater Vancouver Area Total Originations ($Bn) Uninsured LTV2 5.0 6.0 5.3 63% 63% 62% 2.1 2.5 2.3 63% 64% 62% Canadian Mortgage Portfolio4: $294Bn (Spot balances as at Q2/22, $Bn) 28% Insured Freehold $249Bn Condos $45Bn - 161.0 21.4 (85%) (15%) 58.4 139.7 32.9 16.1 3.9 42.3 29.0 Ontario BC & Territories Alberta 19.9 17.2 Quebec 11.6 10.4 Total Portfolio³: 2.7 0.3 0.7 $294Bn 11.3 9.7 Atlantic Provinces Manitoba & Saskatchewan % of portfolio 54.7% 19.8% 11.2% 6.8% 3.9% 3.6% 1 FICO® distribution for Canadian uninsured portfolio based on score ranges at origination. FICO is a registered trademark of Fair Isaac Corporation 2 Average LTV ratios for our uninsured residential mortgages originated during the quarter 3 Includes Wealth Management 72% Uninsured 24#25Automotive Finance • Canada's leader in automotive finance Provide personal and commercial dealer financing solutions, in partnership with nine leading global automotive manufacturers in Canada Portfolio decreased 0.3% year-over-year¹. Personal up 2.5%, Commercial down 25.3% Commercial 11% Near-Prime Retail 7% AVERAGE ASSET MIX $43.6Bn1,2,3 100% Secured 83% Prime Retail Exclusive Relationships MAZDA VOLVO POLESTAR RIVIAN JAGUAR/LAND ROVER Semi-Exclusive Relationships* HYUNDAI CHRYSLER GENERAL MOTORS TESLA * 1 to 2 other financial institutions comprise Semi-Exclusive relationships Market Share Asset Growth Prime Retail Market Share4 Near-Prime Retail Market Share 5 Commercial Floorplan Market Share6 $43.5Bn $44.4Bn $42.3Bn $43.2Bn G $39.7Bn 20% 24% $37.1Bn 36% 64% 80% 76% 2016 2017 2018 2019 2020 2021 1 For the three months ended April 30, 2022; 2 May not add due to rounding; 3 Net of allowance for credit losses; 4 CBA data as of January 2022, includes RBC, BMO, TD, Scotiabank, CIBC, National Bank, Laurentian Bank, Canadian Western Bank, HSBC Canada; 5 Dealer Track Portal data, includes all Near-Prime Retail providers on Dealer Track Portal, data for April 2022 originations; 6 Includes BMO, CIBC, RBC, Scotiabank, TD, HSBC, Canadian Western Bank, Laurentian Bank, data as of September 2021 25 25#26Business Line Overview International Banking 26#27International Banking International Banking has a strong and diverse franchise with more than 10 million Retail, Corporate and Commercial customers. International Banking continues to offer significant potential for the Bank, with a geographical footprint encompassing the Pacific Alliance countries of Mexico, Colombia, Peru and Chile as well as Central America and the Caribbean. Business Mix Financial Results Business Loans 55% Asia 2% Q2/22 Revenue 78% Latin Credit Cards 5% Q2/22 $MM Q2/22 Constant dollar basis²,6 Q2/21 Y/Y² Q1/22 Q/Q² Loan Reported Mix America 20% $2.4B Auto 2% Mix1 11% $151B C&CA Net Income³ Pre-Tax, Pre Provision $605 $403 50% $547 10% Personal Loans $1,139 $1,046 9% 1,128 1% 28% Profit4 Residential Mortgages Revenue $2,407 $2,310 4% $2,441 (1%) Expenses $1,268 $1,264 $1,313 (3%) Reported Net Income³ ($MM) and NIMⓇ (%) PCLs $276 $386 (28%) $283 (2%) 3.95% 3.72% 3.69% 3.76% 3.86% Productivity Ratio5 Net Interest Margin 52.7% 54.4% (170 bps) 53.6% (90 bps) 3.86% 3.95% (9 bps) 3.76% 10 bps PCL Ratio 5,7 77 bps 118 bps (41 bps) 77 bps PCL Ratio Impaired Loans 5,7 77 bps 281 bps (204 bps) 81 bps (4 bps) 605 486 528 545 420 Adjusted5 Net Income³ Pre-Tax, Pre Provision $613 $411 49% $555 10% Q2/21 Medium-Term Financial Objectives Q3/21 Q4/21 Q1/22 Q2/22 Target³ 9%+ $1,149 $1,056 9% $1,139 1% Profit Expenses Productivity Ratio $1,258 $1,254 $1,302 (3%) 52.2% 53.9% (170 bps) 53.2% (100 bps) Net Income Growth 3,6 Productivity Ratio6 Operating Leverage6 <50% Positive 1 May not add due to rounding; 2Y/Y and Q/Q growth rates (%) are on a constant dollars basis, while metrics and change in bps are on a reported basis; 3 Net income attributed to equity shareholders; 4 Pre-Tax, Pre- Provision Profit defined as revenues less expenses; 5 Refer to page 51 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on http://www.sedar.com, for an 27 explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 6 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on http://www.sedar.com; 7 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures; 8 3-5 year target from 2020 Investor Day#28PAC Fundamentals Driving Growth • · Strong Governance Democratic countries with open economies Independent central banks with inflation- targeting regimes • Free trade agreements · and free-floating currencies Business-friendly environments • Sound Macro Environment Diversified economies with solid GDP growth • Resilience to economic and political cycles • Relatively low debt/GDP ratios compared with OECD and emerging-market economies • · • • · Increasing adoption of banking services . Favourable Demographics 232 million people with median age of 30 years Rebounding domestic consumption Increasing exposure to Asian growth markets Among the fastest growing smartphone markets in the world Considerable growth in middle class 28#29Scotiabank in Mexico Business Overview1 Customers² ~3.1MM Corporate/ Commercial Employees² ~9,700 Residential Mortgages 31% Market Position by Loans5 23.8% Branches² 473 Average Loans $34B Loans $33.9B 59% Average Deposits $32B 4% 4% 2% Auto Total NIAT (after NCI)3,4 $762MM Personal Loans Credit Cards 14.8% 13.6% 9.9% 7.8% 6.8% ROE³,4 23.8% Retail Loans 89% 11% BBVA B citibanamex CANORTE Productivity3,4 Secured 48.4% Unsecured BBVA Banorte Santander Banamex Scotiabank HSBC PTPP1,6 Productivity Ratio4 Operating Leverage4 906 952 +9% CAGR 55.4% 55.0% 54.4% 1,180 1,030 50.5% 6.9% -0.9% 1.9% 7.2% 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 2018 All figures including Wealth Management 1 On a constant dollar basis 2 Including subsidiaries 3 LTM Q2/22 4 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on http:// www.sedar.com 5 Source: CNBV as of March 2022 6 Pre-Tax, Pre-Provision Profit defined as revenues less expenses 29 29#30Scotiabank in Peru Business Overview1 Residential Mortgages Customers² Market Position by Loans5 ~3.6MM Corporate/ Commercial 15% Employees² ~9,300 33.1% Branches² 256 Personal Loans 20.9% Average Loans $22B Loans $21.8B 21% 16.7% 59% 12.1% Average Deposits $16B 2% 4% Credit Cards Total NIAT $424MM Other (after NCI)³,4 ROE³,4 14.4% Retail Loans 42% 58% BCP BCP BBVA ㅁ BBVA Scotiabank Interbank Productivity3,4 39.1% Secured Unsecured PTPP1,6 Productivity Ratio4 Operating Leverage4 1,290 1,099 -1% CAGR 1,265 37.7% 1,059 2019 2020 2021 2018 All figures including Wealth Management 1 On a constant dollar basis 2 Including subsidiaries 3 LTM Q2/22 4 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on http://www.sedar.com 5 Market share as of March 2022. Scotiabank includes SBP, CSF and Caja CAT 6 Pre-Tax, Pre-Provision Profit defined as revenues less expenses 35.8% 35.8% 38.5% 5.1% 6.0% -0.1% -5.6% 2018 2019 2020 2021 2018 2019 2020 2021 30#31Scotiabank in Chile Business Overview1 Customers² ~2.9MM Corporate/ Residential Mortgages Commercial Employees² ~7,700 Branches² 116 39% 45% Loans $48.6B Average Loans $49B Average Deposits $22B 10% Total NIAT 6% $755MM Personal Loans (after NCI)³,4 Credit Cards ROE³,4 13.7% Retail Loans 79% 21% Productivity3,4 41.3% Secured Unsecured PTPP1,6 Market Position by Loans4 18.0% 16.7% 14.4% 14.0% 9.6% TR & Itaú Santander Chile Scotiabank BCI Itaú Productivity Ratio4 Operating Leverage4 +20% CAGR 13.3% 1,230 49.8% 1,093 1,113 48.2% 710 46.5% 7.0% 43.4% 4.3% 4.6% 3.0% 3.0% 2018 44.7% 43.4% 4.3% 2019 2020 2021 43.3% 42.1% 0.0% 2018 2019 2020 2021 2018 2019 2020 2021 All figures including Wealth Management 1 On a constant dollar basis 2 Including subsidiaries 3 LTM Q2/22 4 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on http://www.sedar.com 5 Market share as of March 2022, includes only private banks. Scotiabank includes Cencosud, Source: CMF 6 Pre-Tax, Pre-Provision Profit defined as revenues less expenses Reported Adjusted 31#32Scotiabank in Colombia Business Overview1 Customers² ~2.8MM Employees² Corporate/ ~5,900 Commercial Residential Mortgages 26.5% 19% Branches² 132 Average Loans $12B 49% Loans $12.1B 18% Personal Loans Average Deposits $10B 14% Total NIAT (after NCI)³,4 $65MM Credit Cards ROE³,4 4.7% Retail 37% 63% Loans Productivity3,4 65.8% Secured Unsecured PTPP1,7 587 470 -6% CAGR 418 393 Market Position by Loans 5,6 16.5% 11.8% 10.6% 6.2% 5.4% 4.1% BBVA 1 Bancolombia Davivienda Bogotá BBVA Occidente Scotiabank Colpatria Popular Productivity Ratio4 54.6% 2019 2020 2021 2018 All figures including Wealth Management 1 On a constant dollar basis 2Including subsidiaries 3LTM Q2/22 4 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on http://www.sedar.com 5 Market share as of January 2022 6 Members of AVAL Group: Banco de Bogotá, Banco de Occidente, Banco Popular and Banco AV Villas 7 Pre-Tax, Pre-Provision Profit defined as revenues less expenses 56.7% Operating Leverage4 64.5% 63.5% -3.1% -4.7% -10.6% 1.3% 2018 2019 2020 2021 2018 2019 2020 2021 32 32#33Other Regions Leading Caribbean & Central American franchise Caribbean & Central America Asia • • • Leading bank serving retail, commercial and corporate customers Major markets include the Dominican Republic, Jamaica, Trinidad & Tobago, Costa Rica, Panama and The Bahamas Sharpened geographic footprint by exiting higher risk, low growth jurisdictions including Haiti, El Salvador, Puerto Rico, US Virgin Islands, British Virgin Islands, Belize and 8 of the Leeward Islands Dominican Republic: #4 bank Acquired Banco Dominicano del Progreso in 2019 China: ~18% interest in Bank of Xi'an • CAD $1,033MM carrying value as of April 30, 2022 Bank of Xi'an reported $541MM of net income for the eleven months ended September 30, 2021, of which Scotiabank's share is 18% 33#34Business Line Global Wealth Overview Management 34#35Global Wealth Management 3rd Largest Wealth Management Business in Canada' Global Wealth Management is focused on delivering comprehensive wealth management advice and solutions to clients across Scotiabank's footprint. Global Wealth Management serves over 2 million investment fund and advisory clients across 14 countries - administering $600 billion in assets. Business Overview Financial Results 12% 10% Q2/22 Revenue Q2/22 AUM² Mix $326Bn $1.4Bn 88% 90% 20% Q2/22 AUA² $MM, except AUM/AUA Q2/22 Reported Y/Y Q/Q $591Bn Net Income³ $407 9% (1%) 80% Pre-Tax, Pre Provision Profit 5 $555 9% (1%) Revenue $1,358 4% (5%) International Reported Net income³ ($MM) and ROE4 (%) Canada Expenses $803 (7%) 3 PCLS $1 nmf nmf Productivity Ratio² 59.1% (220 bps) (150 bps) 16.4% 16.5% 16.3% 17.2% 17.5% AUM ($B)² $326 (1%) (6%) 412 -7 AUA ($B)² $591 4% (2%) Adjusted5 372 390 385 405 407 Net Income³ $413 9% (1%) Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 ■Ex. Performance Fees Performance Fees Pre-Tax, Pre Provision Profit Expenses Productivity Ratio $564 9% (1%) $794 (7%) 58.5% (210 bps) (150 bps) Medium-Term Financial Objectives Net Income Growth 3,4 Productivity Ratio4 Operating Leverage4 Target6 8%+ <65% Positive 1 Based on Total Net Income for publicly traded banks in Canada for the 3 months ended January 31, 2022; 2 Refer to page 51 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 3Attributable to equity holders of the bank; 4 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on http://www.sedar.com; 5 Pre-Tax, Pre-Provision Profit defined as revenues less expenses; 63-5 year target from 2020 Investor Day 35#36Global Wealth Management #2 in Loans & Deposits growth¹ | #2 in Net Income growth¹ | #2 in Retail Investment Fund Assets in Canada¹ 3rd Largest Wealth Management Business in Canada 1,2 Asset Management A broad selection of actively managed investment solutions from our innovative platform ASSET Mutual Funds ETFs Pooled Funds Liquid Alternatives Hedge Funds Private Asset Funds Segregated Portfolios Institutional Asset Management 1832 MANAGEMENT L.P.m Wealth Distribution Channels A powerful advisory and distribution network across Canada and Latin America. Private Investment Counsel Full-Service Brokerage Private Banking Trust Services Online Brokerage Retail Bank Branch Network Mobile Advice Team 3rd Party Distributors Scotia Funds. Dynamic Funds JARISLOWSKY FRASER Scotia MD Wealth Management. MD Financial Management Scotia iTRADE. Scotiabank Branch mobile advice team 1 Figures for the 3 months ended January 31, 2022 2 Ranking based on Net Income 36#37Global Wealth Management Strong investment performance, increasing scale • • • Market-Leading Capabilities Award-Winning Investment Management Scotia GAM won with 38 FundGrade A+ Awards¹ Dynamic Funds ranked #1 among independent mutual fund companies, for 5-year returns #2 in Retail Investment Fund Assets in Canada Chile Asset Management received 5 mutual fund awards "Premios Salmon" O 1st place in US Equities, Balanced Aggressive, and Moderate Balanced categories ○ 2nd place in Scotia Conservative Balanced, and • Tailored Advice Scotia Wealth Management 2022 Global Finance Awards: Best Private Bank in Canada; and Best Private Bank for Net Worth between $1MM and $24.9MM (GLOBAL CATEGORY) Scotia iTRADE ranked #1 overall among the Big 5 Banks in the 2021 Surviscor Canadian Online Brokerage Ranking for best overall online experience Largest Private Investment Counsel business in Canada (SWW, MD, JFL) Debt <90days in USD categories AUM +14% CAGR AUA +10% CAGR 346 597 207 403 2017 2021 2017 2021 1Includes 5 Dynamic Active ETFs. 1832 Asset Management L.P. assumed full operational and investment management responsibilities of these Dynamic Active ETFs from BlackRock Asset Management Canada Limited (BlackRock Canada) on December 3, 2021. Prior to that time, they were managed by BlackRock Canada and invested in selected Dynamic Funds 37 37#38Business Line Global Banking Overview and Markets 38#39Global Banking and Markets Global Banking and Markets (GBM) provides corporate clients with lending and transaction services, investment banking advice and access to capital markets. GBM is a full service wholesale bank in the Americas, with operations in 21 countries, serving clients across Canada, the United States, Latin America, Europe and Asia-Pacific. Business Overview Asia 4% Financial Results Q2/22 Y/Y Q/Q Canada Business Banking Europe 6% Q2/22 Geographic Global 53% Equities 56% 18% Revenue¹ $1.3Bn Q2/22 Revenue By Business Line¹ $1.3Bn 37% 26% US FICC Reported Net Income² $488 (6%) (13%) Pre-Tax, Pre Provision Profit³ $609 (2%) (17%) Revenue $1,262 (10%) Expenses $653 3% (3%) Net Income² ($MM) and ROE4 (%) Productivity Ratio4 PCL Ratio4,5 PCL Ratio Impaired Loans 4,5 PCLS ($46) 51.7% (16 bps) (1 bp) nmf nmf 140 bps 400 bps 2 bps (10 bps) (6 bps) 2 bps 17.4% 16.1% 17.4% 15.6% 15.5% 561 517 513 502 488 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Medium-Term Financial Objectives Net Income Growth 2,7 Target6 Productivity Ratio Operating Leverage7 ~5% ~50% Positive 1TEB Revenue. Note GBM Latam revenue contribution is reported in International Banking results; 2Attributable to equity holders of the Bank; 3 Pre-Tax, Pre-Provision Profit defined as revenues less expenses; "Refer to page 51 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures; 63-5 year target from 2020 Investor Day; 7 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on http://www.sedar.com; 39#40GBM in US and Latam Delivering the full bank to meet our Americas clients' needs Wholesale bank in the US: Corporate & Investment Banking, Capital Markets, US1 Revenue Latam¹ Cash Management and Trade Finance $471 million $409 million • Top 10 foreign bank $47 billion Average Loans $50 billion organization (FBO) in the US Client list focused on S&P $93 billion Average Deposits $24 billion $176 million Total NIAT $185 million 500, investment grade corporates Current sectors of strength include: Power & Utilities and Energy. Focus areas for growth include Consumer / Industrial/Retail (CIR), Technology, and Healthcare ☑McAfee BROADCOM™ 54.7% 5 Productivity HEALTHCARE REALTY Offices 29.7% Wholesale bank in Latam: Advisory, financing and risk management solutions, and access to capital markets Only full-service corporate / commercial bank with local presence in all Pacific Alliance countries Enhanced connectivity to rest of Americas, Europe and Asia Top tier lending relationships with local and multi-national corporate clients Focused on Pacific Alliance expansion and modernization of technology platforms sta COFFEE GRUPO SALSA BUENAVENTURA To Acquire $7,960,000,000 Senior Credit Facilities $1,950,000,000 7 & 10 Years Senior Notes HTA for $11,200,000,000 $1,500,000,000 2ncl, 10 Years Senior Notes $390,000,000 4.000% Senior Secured Notes due 2032 Bookrunner February 2022 1 Figures for fiscal Q2/22 Joint Bookrunner Financial Advisor Joint Bookrunner March 2022 February 2022 February 2022 Joint Bookrunner, Rating Advisor, ESG Advisor & B&D Bank January 2022 Sale of 46.35% interest in Yanacocha to Newmont for $400,000,000 Sole Financial Advisor 2022 40#41Risk Overview 41#42Risk Snapshot RWA Breakdown¹ Credit Exposure by Country 2,3 Credit Exposure by Sector 1,2 ■ Canada ■ Chile Real Estate and Construction 7.4% ■ Credit Risk 2% $445Bn 86% ■ Operational Risk 12% 5% 3% 3% $663Bn³ ■ Market Risk 69% ■ U.S. ■ Other International 5% ■Mexico 5% 7% ■ C&CA 7% Financial Services Wholesale and Retail 4.4% 4.3% Utilities 3.1% Other 2.9% Technology and Media 2.8% ■ Peru Agriculture 2.4% ■ Colombia Automotive 1.7% Canadian Banking 1,2 Personal & Commercial Lending International Banking1,2 Food and Beverage 1.6% Energy 1.2% Transportation 1.2% Health Care 0.9% Sovereign 0.8% ■ Secured 71% ■ Secured Mining 0.8% 5% $375Bn $68Bn Hospitality and Leisure 0.6% 95% Metals 0.4% ■ Unsecured 29% ■ Unsecured Forest Products 0.3% Chemicals 0.3% 1 As at April 30, 2022 2% of total loans and acceptances 3 As at October 31, 2021 42 42#43Credit Quality GILs ($MM) AND GIL RATIO1 81 bps 81 bps 84 bps 81 bps 73 bps 67 bps 64 bps 60 bps 5,148 26 5,053 26 5,279 39 5,116 33 -224 -209 -302 -286 4,735 28 1,067 1,209 1,040 -235 4,456 26 4,435,32 -219 -231 1,049 921 941 904 4,264,32 824 168 3,704 3,676 3,949 3,757 3,551 3,270 3,268 3,240 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 NET WRITE-OFFS ($MM) AND NET WRITE-OFFS RATIO¹ 76 bps 62 bps 47 bps 41 bps 43 bps 34 bps 1,141 27 bps 25 bps 13 219 983 1 8 173 750 33 674 632 -25 -26 266 201 560 1 123 1 3 457 227 422 4 910 4 801 139 144 450 448 435 379 311 274 Q3/20 Q4/20 Q1/21 Q2/21 (1) Q3/21 Q4/21 Q1/22 Q2/22 • HIGHLIGHTS GIL ratio continues to improve due to: О Lower formations across all portfolios Strong Canadian consumer and corporate balance sheet Lower GILs in International retail as a result of favourable credit performance • HIGHLIGHTS Net write-offs continue to improve, declining 63% Y/Y and 8% Q/Q Fourth consecutive quarter of lower net write-offs in International Banking Net write-offs ratio declined 2 bps Q/Q as Canadian and International retail write-offs remain at historically low levels driven by low impairments International Banking Canadian Banking Global Banking and Markets Global Wealth Management 1 Refer to page 51 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 43#44Credit Performance TOTAL ACLs¹ ($MM) AND ACL RATIO² 116 bps 125 bps 125 bps 109 bps 96 bps • 86 bps 80 bps 75 bps 7,403 19 7,820 21 7,810 -409 • -24 377 395 6,893 23 -325 6,232,22 2,648 2,655 2,551 -234 288 5,731 23 5,583 -20 5,375,20 217 2,580 169 2,476 2,255 2,075 1,918 4,456 4,742 4,736 3,965 3,446 3,219 3,271 3,268 • Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 International Banking Canadian Banking Global Banking and Markets Global Wealth Management TOTAL PCLs ($MM)³ AND PCL RATIO4 136 bps 73 bps 49 bps 33 bps 24 bps 10 bps 13 bps 13 bps 2,181 149 -1 752 1,131 -3 330 62 1,278 736 764 4 215 20 525 496 145 396 380 339 69 168 314 222 219 1 274 (35) 276 (43) (2) \(27) (1) (96) (50) (16) (1) (12) (46) Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 ■International Banking ■Canadian Banking Global Banking and Markets 3 ■GWM/Other HIGHLIGHTS Strong balance sheet with total ACLs of $5.4 billion Performing loan ACLs decreased 5% Q/Q Improvement in credit quality primarily in the retail portfolios Strong loan growth and a less favourable macroeconomic forecast Total ACL ratio of 75 bps ○ Highly secured retail portfolio (Canada 95%; International - 71%) Strong, investment grade corporate loan book HIGHLIGHTS Total PCL ratio of 13 bps, unchanged Q/Q, continues to reflect low formations and improvement in credit quality 1 Includes ACLs on off-balance sheet exposures and ACLs on acceptances and other financial assets 2 ACL ratio defined as period end total ACLs (excluding debt securities and deposits with financial institutions) divided by gross loans and acceptances 3 Other includes provisions for credit losses in Global Wealth Management of $1 million (Q3/20: $1 million, Q4/20: $3 million, Q1/21: $4 million, Q2/21: -$2 million, Q3/21: -1$ million, Q4/21: $1 million, Q1/22: -$1 million) 4 Refer to page 51 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such 44 explanation is incorporated by reference hereto#45Canadian Retail: Loans and Provisions' MORTGAGES 4 2 2 1 1 1 1 1 0 0 AUTO LOANS 224 106 91 99 39 37 41 4 0 0 105 89 81 78 35 (5) 0 (6) (4) Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 LINES OF CREDIT³ 169 79 19 74 65 23 62 70 33 41 48 36 60 57 10 32 (8) (6) Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 PCL as a % of avg. net loans (bps)² ՎԱ Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 1,002 CREDIT CARDS 400 410 322 288 244 267 234 401 312 321 310 204 (84) (55) (59) Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 PCLs on Impaired Loans as a % of avg. net loans (bps)² Loan Balances Q2/22 Spot ($Bn) % Secured Mortgages $294 100% 1 Includes Wealth Management Auto Loans Lines of Credit³ Credit Cards $40 100% $6 2% $33 64% Total $3754 95%5 2 Refer to page 51 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 3 Includes Home Equity Lines of Credit and Unsecured Lines of Credit 4 Includes Tangerine balances of $11 billion and other smaller portfolios 5 84% secured by real estate; 11% secured by automotive 45 45#46International Retail: Loans and Provisions MEXICO 321 CHILE CARIBBEAN AND CENTRAL AMERICA 591 556 Markets with 428 329 Greater 280 181 326 300 261 248 238 221 212 237 81 70 62 64 139 Weighting to 173 138 51 67 267 253 243 111 Secured 205 87 221 204 216 195 179 120 122 102 54 67 58 45 39 195 170 133 124 31 Q3/20Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 PERU Q3/20Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 COLOMBIA Markets with 2,436 1,552 1,588 1,338 Greater Weighting to Unsecured 1,290 1,322 1,152 738 1,194 492 760 361 352 309 364 353 1,065 542 143 764 726 385 636 534 245 287 289 304 361 211 274 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 256 Q3/20Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 PCL as a % of avg. net loans (bps)1 PCLs on Impaired Loans as a % of avg. net loans (bps)1 Loan Balances Q2/22 Mexico Peru Chile Colombia Spot ($Bn) % Secured $14 89% $9 42% $26 79% $6 37% Caribbean & CA Total² $12 $68 77% 71% 1 Refer to page 51 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 2 Total includes other smaller portfolios 46#47Treasury and Funding 47#48Highlights Strong liquidity, stable funding • Strong liquidity well in excess of regulatory requirements • o LCR1 of 125%, up 2% Q/Q and down 4% Y/Y, in-line with target of 125% o HQLA of $214B, up $9B Q/Q and $13B Y/Y, is substantially comprised of Level 1 assets o Pacific Alliance countries LCRs of 133% - 173% Stability of funding reflected in NSFR2 of 109% • 30.1% TLAC³ is above 24% regulatory minimum in effect as of November 1, 2021 ⚫ Wholesale funding utilization returning to pre-pandemic levels o Wholesale funding of $282B, up $17B Q/Q (+$16B in term funding and +$1B in money market funding) and up $90B Y/Y o Wholesale funding / total assets increased 63 bps Q/Q to 21.9%, from 21.3% 。 Wholesale funding usage driven by strong asset growth, partially offset by deposit growth 1 This measure has been disclosed in this document in accordance with OSFI Guideline - Public Disclosure Requirements for Domestic Systemically Important Banks on Liquidity Coverage Ratio (April 2015) 2 This measure has been disclosed in this document in accordance with OSFI Guideline - Public Disclosure Requirements for Domestic Systemically Important Banks on Net Stable Funding Ratio Disclosure Requirements (January 2021). 3 This measure has been disclosed in this document in accordance with OSFI Guideline - Public Disclosure Requirements for Domestic Systemically Important Banks on Total Loss Absorbing Capacity (TLAC) (September 2018). 48#49Funding Strategy Diversified funding sources • . . Increase contribution from customer deposits Manage prudent level of wholesale funding utilization and TLAC² Maintain balance between efficiency, stability of funding and pricing relative to peers Diversify funding by type, currency, program, tenor and source/market Utilize a centralized (head office managed) funding and associated risk management approach 1 In addition to the programs listed, there are also CD programs in the following currencies: Yankee/USD, EUR, GBP, AUD, HKD 2 This measure has been disclosed in this document in accordance with OSFI Guideline - Public Disclosure Requirements for Domestic Systemically Important Banks on Total Loss Absorbing Capacity (TLAC) Requirements (September 2018). Funding Programs¹ US Debt & Equity Shelf (senior subordinated debt, preferred and common shares) Limit USD 50 billion Global Registered Covered Bond Program (uninsured Canadian mortgages) Limit CAD 100 billion EMTN Shelf Limit USD 30 billion CAD Debt & Equity Shelf (senior/subordinated debt, preferred and common shares) Limit CAD 15 billion START ABS program (indirect auto loans) Limit CAD 15 billion Australian MTN program Limit AUD 8 billion Singapore MTN program Limit USD 12 billion Halifax ABS shelf (unsecured lines of credit) Limit - CAD 7 billion Principal at Risk (PAR) Note shelf Limit CAD 15 billion Trillium ABS shelf (credit cards) Limit CAD 5 billion USD Bank CP Program Limit USD 35 billion 49#50Wholesale Funding Wholesale funding diversity by instrument and maturity¹,6,7 14% Senior Notes 25% Bail-inable Notes -0.5% Asset-Backed Securities 15% Covered Bonds TERM FUNDING MATURITY TABLE (EXCLUDING SUB DEBT AND MORTGAGE SECURITIZATION) (CANADIAN DOLLAR EQUIVALENT, $B) $28 $27 4 $23 9 $34 $30 7 12 12 Asset-Backed Commercial Paper³ 2% 30% Bearer Deposit Notes, Commercial Paper & Short-Term Certificate $282Bn 1% Deposits from Banks² of Deposits 9% Mortgage Securitization4 21 24 60 22 $11 22 17 17 60 26 4% Subordinated Debt5 5 < 1 Year 2 Years 3 Years 4 Years 5 Years 5 Years > Senior Debt ABS Covered Bonds 1 Excludes repo transactions and bankers' acceptances, which are disclosed in the contractual maturities table in the MD&A of the Interim Consolidated Financial Statements. Amounts are based on remaining term to maturity. 2 Only includes commercial bank deposits raised by Group Treasury. 3 Excludes asset-backed commercial paper (ABCP) issued by certain ABCP conduits that are not consolidated for financial reporting purposes. 4 Represents residential mortgages funded through Canadian Federal Government agency sponsored programs. Funding accessed through such programs does not impact the funding capacity of the Bank in its own name. 5 Although subordinated debentures are a component of regulatory capital, they are included in this table in accordance with EDTF recommended disclosures. 6 As per Wholesale Funding Sources Table in MD&A, Q2/22 Report to Shareholders. 7 May not add due to rounding. 50 50#51PERSONAL DEPOSITS1 (AVERAGE BALANCES, $Bn) Deposit Overview Continued growth in non-personal deposits partly offset by slowing of personal $248 $241 $244 $244 $247 $245 $244 $226 $221 $222 $237 $225 $221 3Y CAGR 3.9% Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 NON-PERSONAL DEPOSITS1 (AVERAGE BALANCES, $Bn) $296 $278 $253 $327 $266 $280 $331 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 $350 $354 $363 $338 $351 $360 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 3Y CAGR 12.8% 1 Calculated as the sum of the average balances of the four business-line personal and non-personal deposits. Q2/22 • PERSONAL DEPOSITS Important for both relationship purposes and regulatory value Initiatives are in place to drive deposit growth and retention • NON-PERSONAL DEPOSITS Leveraging relationships to grow deposits with favourable regulatory value Strong Q/Q growth in Global Banking and Markets deposits 51#52Q2/19 Q3/19 Q4/19 36.6% Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 MONEY MARKET WHOLESALE FUNDING / TOTAL WHOLESALE FUNDING 38.7% 17.1% Wholesale Funding Utilization Maintaining appropriate reliance on wholesale funding WHOLESALE FUNDING / TOTAL ASSETS 22.9% 20.9% 21.9% WHOLESALE FUNDING UTILIZATION WELL MANAGED Wholesale funding usage returning to pre- pandemic levels driven by asset growth, partially offset by deposit retention Q1/21 27.4% 33.7% Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q1/22 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 • SUITABLE CONCENTRATION OF MONEY MARKET FUNDING Prudent utilization of short-term funding 52 52#53• • Key Metrics Well-funded with strong liquidity and stable funding Liquidity Coverage Ratio (LCR)1 o Liquidity well in excess of regulatory requirements o LCR of 133-173% in Pacific Alliance countries 141% 138% 132% 129% 129% 123% 124% 123% 125% Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 High Quality Liquid Assets (HQLA) $227 $210 $213 $214 。 Substantially comprised of Level 1 assets 。 +$9B Q/Q and +$13B Y/Y $201 $205 $195 $198 $188 Net Stable Funding Ratio (NSFR)² o Public disclosure began Q1/21 。NSFR is well in excess of 100% regulatory requirement Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 115% 112% 112% 110% 109% 108% Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 1 This measure has been disclosed in this document in accordance with OSFI Guideline - Public Disclosure Requirements for Domestic Systemically Important Banks on Liquidity Coverage Ratio (April 2015) 2 This measure has been disclosed in this document in accordance with OSFI Guideline - Public Disclosure Requirements for Domestic Systemically Important Banks on Net Stable Funding Ratio Disclosure Requirements (January 2021). 53#54Appendix 1 Core Markets: Economic Profiles#55Economic Outlook in Core Markets Real GDP Growth Forecast (2022-23) Real GDP (Annual % Change) Forecast 1,2 Country 2010-19 Average 2020 2021 2022 2023 Q1E Q2F Q3F Q4F Year Year Canada 2.3 (5.2) 4.6 4.0 4.4 4.0 2.6 4.2 3.0 U.S. 2.3 (3.4) 5.7 (1.4) 4.7 2.7 3.5 3.8 2.9 Mexico 2.7 (8.2) 4.8 1.6 1.5 1.6 24 2.1 1.7 1.9 Chile 3.3 (6.0) 11.7 7.9 5.8 0.5 (1.3) 3.0 0.0 Peru 4.5 (11.0) 13.3 3.8 2.5 2.1 2.9 2.6 2.8 Colombia 3.7 (7.0) 10.6 6.6 9.7 4.8 2.0 5.8 3.7 PAC Average³ 3.6 (8.0) 10.1 4.9 4.9 2.3 1.4 3.3 2.1 Source: Scotiabank Economics 1 Forecasts for Canada and U.S. as of the April 12, 2022 Scotiabank Economics Global Forecast Tables 2 Forecasts for PAC countries as of the May 5, 2022 Scotiabank Economics Latam Charts Weekly 3 Simple average 55#56Interest Rate Sensitivity NET INTEREST INCOME SENSITIVITY An immediate and sustained +100 bps parallel shift would have a negative impact on annual net interest income of $126 million for Year 1 and a positive impact of $191 million for Year 2 Canada POLICY RATE CHANGE AND OUTLOOK Change During BNS Fiscal Quarters Current Expected Increase Country Q1/22 Q2/22 QTD Q3/222 +75 bps Policy Rate 1.00% From Current Policy Rate To Dec 31, 20223 +150 bps • Above estimates assume a static balance sheet and no management actions¹ US +25 bps +50 bps 1.00% +150 bps Mexico +75 bps +100 bps +50 bps 7.00% +150 bps Colombia +150 bps +200 bps 6.00% +200 bps Peru Chile +150 bps +150 bps +50 bps 5.00% +75 bps +275 bps +150 bps +125 bps 8.25% INTEREST RATE ENVIRONMENT2 Canada & U.S. Interest Rate Environment (%) Mexico & Chile Interest Rate Environment 3.5 3.0 10.0 2.5 8.0 2.0 6.0 1.5 4.0 1.0 0.5 2.0 0.0 0.0 May-19 Nov-19 May-20 Nov-20 May-21 Nov-21 May-22 May-19 BoC Overnight Rate Fed Funds Rate CAD 5-Yr Swap Rate USD 5-Yr Swap Rate (%) Nov-19 May-20 Nov-20 May-21 Nov-21 May-22 Bank of Mexico Overnight Rate MXN 5-Yr Swap Rate Bank of Chile Monetary Policy Rate CLP 5-Yr Swap Rate 1 Additional detail regarding non-trading interest rate sensitivity can be found on page 36 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on http://www.sedar.com 2 As of May 23, 2022 3 Source: Scotia Economics. US and Canada as at April 12, 2022 forecast, Pacific Alliance countries as at May 13, 2022 forecast 56#57Pacific Alliance: Economic Outlook and Election Calendar Pacific Alliance Economies Are Recovering 115 Real GDP, index Q4-2019=100, 4-qtr. rolling sum 110 105 100 95 90 85 2020 Chile 2021 Colombia 2022 2023 Mexico Peru Sources: Scotiabank Economics, Haver Analytics. Forecasts for PAC countries as of the May 5, 2022 Scotiabank Economics Latam Charts Weekly. Elections in the Region Presidential Recall Referendum April 10, 2022 Congressional March 13, 2022 Jan.-Apr. 2022 Gubernational (6 States) June 5, 2022 Presidential May 29, 2022 Presidential Run-Off June 19, 2022 Constitutional Referendum September 4, 2022 Regional & Municipal October 2, 2022 Gubernational (2 States) May-Aug. 2022 Sep.-Dec. 2022 2023 57 57#58Canadian Economy Diverse sources of growth with a strong balance sheet 20.8% Finance, Insurance, & Real Estate 14.4% Other 3.7% Transportation & Warehousing 6.6% Professional, Scientific, & Technical Services 6.8% CANADIAN GDP BY INDUSTRY (Feb. 2021) Public Administration 12.4% Health & Education 7.7% 10.6% Wholesale & Retail Trade 9.4% Manufacturing 7.7% Mining and Oil & Gas Extraction Construction GDP 2021: 4.6% GDP 2022F: 4.2% GDP 2023F: 3.0% Real GDP Growth LO 5 + 3 ANNUAL % CHANGE N L U.S. General Government Net Debt % OF GDP TH 2010-2019 Canada Eurozone 2021E-2023F U.K. Japan Sources: Scotiabank Economics, Haver Analytics, Statistics Canada. Forecasts as of Apr, 12, 2022. Government Financial Deficits 0 2021 2022F -4 N (4.7) (2.2) (3.7) (3.3) (7.3) (4.3) (8.0) -6 (10.2) (4.3) (4.8) 169 172 138 139 -8 101 96 100 100 84 87 85 76 -10 % OF GDP 49 51 2021 2022F 33 32 -12 CA GE Adv. U.K. U.S. FR IT JN Ž CA GE U.K. Adv. Econ. U.S. FR IT JN Econ. Sources: IMF Apr 2022 Fiscal Monitor. Calendar years shown. Scotiabank Economics, IMF Apr. 2022 Fiscal Monitor, CBO. Calendar years shown. 58#59Public Debt Ratios in G7 Markets 300 % of GDP 250 200 150 100 50 0 G7 General Government Gross Debt 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Canada (AAA) Italy (BBB) -U.S. (AA+) France (AA) Japan (A+) Sources: Scotiabank Economics, IMF, Standard & Poor's. G7 General Government Net Debt 200 % of GDP 150 100 50 -Germany (AAA) UK (AA) 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Canada (AAA) Italy (BBB) U.S. (AA+) France (AA) Japan (A+) Sources: Scotiabank Economics, IMF, Standard & Poor's. Germany (AAA) UK (AA) 59 59#60• Mexican Economy Solid mix of sectors Services and consumption are increasingly contributing to the domestic economy's recovery Trade with the U.S. is leading growth, but Mexico's diversification agenda is also underpinned by 13 free-trade agreements with 50 countries that account for 43% of global GDP and include all G7 countries The authorities' fiscal and debt indicators remain reasonable; efforts to boost tax collection could continue to be implemented GDP 2021: 4.8% GDP 2022F: Sources: Scotiabank Economics, Bloomberg, as of May 5, 2022. 1.7% GDP 2023F: 1.9% Contributions to Mexican GDP Growth Other MEXICAN GDP 16.5% Finance, Insurance, & Real Estate 14.1% 6.1% Health & Education 18.5% Wholesale & Retail Trade 16.4% Manufacturing 6.4% Mining and Oil & Gas Extraction 6.0% Construction 3.5% Natural Resources 6.5% Transportation & Warehousing BY INDUSTRY* (Q4-2021) 2.0% Professional, Scientific, & Technical Services 4.0% Public Administration * Q1-2022 real GDP growth 1.6 y/y. Industry GDP breakdown not yet available for Q1-2022. Top Trading Partners* 24 y/y % change 20 16 12 8 4 0 -4 Other* -8 -12 -16 -20 Real GDP 17 Inventories Government Net Exports Investment Consumption South Korea 3% Others 16% Canada 4% EU 7% 18 19 *Statistical discrepancy, subject to revision. Sources: Scotiabank Economics, Haver Analytics. 20 21 22 22 * Q1-2022 real GDP growth 1.6 y/y. National accounts breakdown not yet available for Q1-2022. China 13% * Trade data updated as of Q4-2021. United States 57% 60 60#61Chilean Economy Advanced economy with wide-ranging trade links • Chile's mix of economic activities reflects its status as an advanced OECD economy Chile's diversified trading relationships are supported by 30 free-trade agreements with 70 countries that account for 88% of global GDP Public support for households and businesses has powered a strong rebound in consumption GDP 2021: 11.7% GDP 2022F: 14.5% Finance, Insurance, & Real Estate 10.9% Other 1.9% Restaurants & Hotels 8.7% Transportation & Warehousing 3.0% GDP 2023F: 0.0% Sources: Scotiabank Economics, Bloomberg, as of May 5, 2022. Contributions to Chilean GDP Growth 40 y/y % change 30 3.7% Natural Resources CHILEAN GDP BY INDUSTRY (Q4-2021) 10.1% Wholesale & Retail Trade 19.7% Housing & Personal Services Top Trading Partners* 9.0% Manufacturing 10.6% Mining and Oil & Gas Extraction 6.2% Construction 4.8% Public Administration 20 10 0 -10 Net Exports Investment -20 Consumption -30 17 18 Inventories Government Real GDP 19 Sources: Scotiabank Economics, Haver Analytics. 20 21 21 Others 27% China 36% Japan 5% Brazil 7% United States EU 9% 16% * Trade data updated as of Q4-2021. 61#62Peruvian Economy Resilient economic fundamentals 11.9% Mining, Oil, & Gas 7.4% Construction 1.8% Electricity & Water 5.6% Peru's important resource sectors are increasingly balanced by stronger service-sector activity and solid economic fundamentals Peru has 18 free-trade agreements with 52 countries that account for 66% of global GDP Government spending, transfer programs, and pension withdrawals helped to bolster a rebound into 2022 12.4% Manufacturing 10.6%- Wholesale & Retail Trade Other 50.2% PERUVIAN GDP BY INDUSTRY (Q4-2021) GDP 2021: 13.3% GDP 2022F: 2.6% GDP 2023F: 2.8% Sources: Scotiabank Economics, Bloomberg, as of May 5, 2022. Contributions to Peruvian GDP Growth 50 y/y % change 40 30 20 10 0 -10 Net Exports Investment Inventories Government -20 Consumption Real GDP -30 -40 17 18 19 20 20 Sources: Scotiabank Economics, Haver Analytics. 21 24 Top Trading Partners* China 27% Others 36% Natural Resources South Korea 4% United States 16% Canada 5% EU 12% * Trade data updated as of Q4-2021. 62 62#63Colombian Economy Strong underlying momentum . Growth prospects have solidified as the re-opening has progressed Colombia continues to build on its 17 free-trade agreements with 65 countries that account for 41.7% of global GDP Services and consumption, reflecting an expanding middle class, account for rising shares of Colombian GDP compared with traditional strengths in extractive industries GDP 2021: 10.6% GDP 2022F: Sources: Scotiabank Economics, Bloomberg, as of May 5, 2022. 5.8% GDP 2023F: 3.7% 13.5% Finance, Insurance, & Real Estate 3.1% Arts & Entertainment 18.1% Wholesale, Retail Trade, Accommodation & Food Services 12.2% Manufacturing 10.8% Other 6.0% Natural Resources 3.0% Information & Communication COLOMBIAN GDP BY INDUSTRY (Q4-2021) 6.8% Professional, Scientific, & Technical Services 15.2% 6.9% Mining and Oil & Gas Extraction 4.6% Construction Public Administration Top Trading Partners* -10 -15 2505052422 Contributions to Colombian GDP Growth y/y % change 15 10 -5 Other* Net Exports Investment Government Consumption Real GDP 17 18 19 20 *Statistical discrepancy, subject to revision. Sources: Scotiabank Economics, Haver Analytics. 21 21 United Others States 32% 27% Brazil 5% China Mexico 5% 19% EU 12% * Trade data updated as of Q4-2021. 63 63#64Appendix 2 Canadian Economic Fundamentals#6580 CA: Consumer and Business Activity 110 Index, 2019Q4 = 100 105 Jan 13, 2020 forecast 100 95 90 90 85 GDP Getting Back on Track Business Confidence - CFIB Business Barometer 80 index, >50 stronger Apr. 12, 2022 forecast 50 50 19Q4 LOOZ 20Q2 Source: Scotiabank Economics, Statistics Canada. 20Q3 2004 21Q1 Key Economic Indicators S21Q2 21Q3 21Q4 22Q1 22Q2 22Q3 22Q4 23Q1 23Q2 23Q3 23Q4 Feb-20 Mar-20 Apr-20 May-20- Jun-20 Jul-20- Aug-20 - Sep-20- Oct-20- Nov-20. ៩ ៦ 8 8 ៩ ៩ ៩ ៩ ៩ 60 100 140 120 160 index, Feb 2020 levels 100 180 Dec-20- Jan-21. Feb-21- Mar-21- Apr-21- May-21- Auto Sales Mfg Shipments Exports Housing Starts Retail Sales Sources: Scotiabank Economics, Bloomberg. Jun-21- Jul-21- Aug-21- Sep-21- Oct-21- Nov-21- Dec-21- Jan-22 Feb-22- Mar-22 Employment Manufacturing PMI Apr-22 80 85 90 100 40 30 70 70 60 60 20 11 12 13 14 3-month moving Headline index 6-month moving average average T T T 15 16 17 18 19 20 21 22 Sources: Scotiabank Economics, CFIB. Labour Market Recovery Canada's Labour Force Participation Rate Canada Fully Recovers Lost Jobs 105 Feb. 2020=100 66 % 65 95 Feb-20 Apr-20- Jun-20 Aug-20 Oct-20- Dec-20- Feb-21- Apr-21- Jun-21- Aug-21- Oct-21- Dec-21- Feb-22 Apr-22 J Sources: Scotiabank Economics, Statistics Canada. 64 63 32 62 61 60 59 Feb-20 Apr-20 Jun-20 Aug-20 Oct-20 Dec-20 Feb-21] Apr-21] Jun-21] Aug-21] Oct-21] Dec-21] Feb-22] Apr-22] 65#66CA: Demographics and Housing Market Population Growth Rebounding Canada Immigration Pushing to Record Levels 2.0 annual % change ⚫⚫ Euro Area 1.5 Japan France United States 500 Proposed Immigration 000s United Kingdom Italy 450 400 350 Annual Average Immigration 1.0 300 250 0.5 200 0.0 150 100 -0.5 50 0 -1.0 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 Sources: Scotiabank Economics. 70s 80s 90s 00s 17 18 Sources: Scotiabank Economics, Statistics Canada, Ministry of Immigration, Refugees & Citizenship Canada. 19 20 21 22 23 24 Canadian Residential Housing Inventory Very Low Housing Supply Still Tight in Key Markets 12 months of inventory, SA 10 Toronto 8 units per 10,000 pop., end of period Vancouver 18 units per 10,000 pop., end of period Multi-Unit 16 8 6 4 2 Литить Multi-Unit 14 Single- Detached 6 Single-Detached 12 2002-20 10 average 1992-2020 8 average 6 2 4 2 0 0 0 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 Sources: Scotiabank Economics, Statistics Canada. 92 96 00 04 08 12 16 20 Sources: Scotiabank Economics, Statistics Canada, CMHC. 02 04 06 08 10 12 14 16 18 20 66#67CA: Growth in Household Credit • . Total household credit growth, in annual nominal terms, had slowed considerably since the 2007 peak of 13.4% y/y. But household credit growth has picked up rapidly throughout 2021 and into 2022, reaching 8.9% y/y for the rolling quarter ending Feb. 2022, the highest rate since mid-2010. Consumer loans excluding mortgages (i.e., cards, HELOCs, unsecured lines, auto loans, etc.) grew by 2.2% y/y for the rolling quarter ending Feb. 2022. Consumer loan growth has trended downward. since late-2000 highs of over 16.6% y/y and declined further during the pandemic on refinancing into secured credit, but the most recent two quarters reflect signs of strengthening consumer demand and spending. • Mortgage credit grew at 10.7% y/y in the rolling quarter ending Feb. 2022 vs the 2007 peak of 14.1% y/y. Underlying demand, pandemic-induced moves, and relatively low five-year rates have driven a rebound in the pace of growth. 20 20 15 Household Credit Growth %, 3-month moving average y/y % change Consumer Loan Growth 25 20 15 10 5 %, 3-month moving average y/y % change Residential Mortgage Growth 20 %, 3-month moving average 15 y/y % change 10 m/m% 5 change, SA 0 01 03 05 07 09 11 13 15 17 19 21 Sources: Scotiabank Economics, Statistics Canada. 10 -5 -10 m/m% change, SA 5 m/m% change, SA -15 0 -20 01 03 05 07 09 11 13 15 17 19 21 Sources: Scotiabank Economics, 01 03 05 07 09 11 13 15 17 19 21 Sources: Scotiabank Economics, Statistics Canada. Statistics Canada. 67#68CA: Housing Finances More than Half of Canadian Households Don't Have a Mortgage or HELOC % of households (2020 est.) 5-Year Mortgage Rates Resetting Higher 200 5-year difference, basis points 4230225050 with HELOC 11.5 ៩ ៩៩៩ 150 100 1.9 0 -50 32.8 -100 15 29.1 24.3 -150 10 -200 Owned dwelling w/ mortgage Owned dwelling w/o mortgage Sources: Scotiabank Economics, Mortgage Professionals Canada. Higher Home Equity in Canada 80 81565 60 equity as % of real estate assets 75 70 Cda estimate incl. HELOCS 50 45 Official FRB with NFPs (incl. HELOCs) Rented forecast* -250 10 11 12 13 14 15 16 17 18 19 20 21 22 23 *Based on Scotiabank Economics forecast of 5-year government of Canada bond yields and the 2006-20 average spread Sources: Scotiabank Economics, Bank of Canada. Canadian Mortgage Delinquencies Declining 10 % of total loans past due three Official (excl. HELOCs) or more months 8 U.S. estimate with NFPs 6 excl. HELOCS 4 2 40 40 0 92 94 96 98 00 02 04 06 08 10 12 14 16 18 20 Sources: Scotiabank Economics, OSFI, FCAC, Statistics Canada, Federal Reserve Board. 92 94 96 98 00 02 04 06 Sources: Scotiabank Economics, MBA, CBA. U.S. + foreclosures U.S. Canada 08 10 12 14 16 18 20 22 68#69CA: Household Finances 30 25 25 Household Savings Ratios Elevated % of disposable income, SAAR 20 20 15 15 10 110 5 0 Household Credit-Market Debt Has Levelled Off 200 % of disposable income, SAAR 180 160 140 120 100 80 Adjusted Canadian -----Official Canadian Official U.S. T T 22 92 94 96 98 00 02 04 06 08 10 12 14 16 18 20 Sources: Scotiabank Economics, Statistics Canada, BEA, Federal Reserve Board. -5 92 94 96 98 00 02 04 06 08 10 12 14 Sources: Scotiabank Economics, Statistics Canada. 16 18 20 60 Ratio of Household Assets to Liabilities Rising 750 % 700 650 600 550 500 450 400 Canada U.S. Household Debt-Service Ratios Tempered 16 % of disposable income, SAAR 14 12 10 8 Debt service ratio 6 (interest only) 4 2 Debt service ratio (principal and interest) Debt service ratio (principal only) 350 0 92 94 96 98 00 Sources: Statistics Canada, Federal Reserve Board. 02 04 06 08 10 12 14 16 18 20 92 94 96 98 00 02 04 06 Sources: Scotiabank Economics, Statistics Canada. 08 10 12 14 16 18 20 69#70Appendix 3 Bail-in and TLAC#71. • Canadian Bail-in Regulations: Key Features Best in class approach Post September 23, 2018, senior unsecured debt issued by Canadian DSIBS that is subject to bail-in is the only format of issuance available¹ and is a single class of debt2 that is not subordinated to another class of wholesale senior debt Canadian bank term senior unsecured debt is not structurally, statutorily or contractually subordinated to another class of senior liabilities and therefore ranks equally to deposits and other senior liabilities in liquidation Canada utilizes a statutory bail-in regime where, unlike the contractual regime of Canadian NVCC capital instruments, bail-in conversion terms are not prescribed. CDIC retains flexibility to exercise the bail-in power in a manner that is appropriate given the circumstances at the time and subject to certain parameters. In the remote event of non-viability, the no creditor worse off principle ensures that bailed-in senior creditors do not incur greater losses through resolution than liquidation. The CDIC compensation regime floors recovery at the liquidation value. The bail-in regime provides for a relative hierarchy of claims. Creditors receive common shares in accordance with their relative rankings. 1 Excludes structured notes as defined in section 2(6) of the Bank Recapitalization (Bail-in) Conversion Regulations under the CDIC Act 2 Ranks pari passu with other forms of senior debt, except as otherwise prescribed by law and subject to the exercise of bank resolution powers 71#72Canadian Bail-in Regulations: Jurisdictional Comparison Best in class approach K Instrument type Opco senior Holdco senior Holdco senior¹ Holdco senior Opco non- preferred senior Ranking in Liquidation Pari passu with deposits and other senior liabilities Structural subordination² Structural subordination² Structural subordination² Contractual subordination² Senior Deposits Other senior liabilities debt Subordination schematic subject to bail-in Capital Deposits Opco senior/senior preferred / other senior liabilities Holdco senior / senior non-preferred Capital Depositor preference No Yes Yes Yes Yes Participation in equity post resolution Conversion to equity of the bank or an affiliate allows participation in the upside, if any³ N/A4 Uncertain given possibility of writedown Uncertain given possibility of writedown Uncertain given possibility of writedown Acceleration rights upon failure to pay Yes principal and interest 1Applicable in practice for G-SIBs' issuance of non-capital bail-in debt Yes Yes Yes No5 2 Approach applicable to G-SIBS in relevant jurisdictions. Additionally, Switzerland uses structural subordination, Germany uses statutory subordination, Spain uses contractual subordination 3 Assuming only bail-in is triggered. If other resolution powers are exercised, debt holders could be exposed to losses in a manner similar to a write-down of their claims 4 No bail-in power. In resolution, debtholders could potentially receive partial recoveries (analogous to a write-down) or have their claims satisfied through the issuance of new securities (analogous to a bail- in conversion) 5 The terms of senior non-preferred do not include acceleration rights upon failure to pay principal and interest; however, there is no statutory restriction in this regard. Once resolution proceedings are underway, holders may declare an event of default for failure to meet payment obligations 72#73Summary of Bail-in / TLAC Regime Best in class approach Scope Scope of bail-in instruments Liabilities excluded from bail-in TLAC compliance date TLAC requirement TLAC eligibility Grandfathering Sequencing and preconditions Form of bail-in DSIB disclosure requirements OSFI designated DSIBS Senior unsecured debt that is tradeable and transferable, original term >400 days, unsecured and issued, originated or renegotiated after September 23, 2018 Insured deposits, uninsured deposits, debt with original term < 400 days, ABS / covered bonds, structured notes², derivative liabilities, other liabilities November 1, 2021 24.0% minimum risk-based TLAC ratio as of November 1, 2021 (21.5% plus a 2.5% Domestic Stability Buffer) 6.75% minimum TLAC leverage ratio Regulatory capital³ + bail-in debt with remaining term to maturity > 1 year4 Yes - all senior instruments issued prior to September 23, 2018 1. Federal authorities bring bank into resolution 2. Full conversion of bank's NVCC instruments must occur prior to or concurrently with bail-in Equity conversion - Include disclosure related to the conversion power in any agreement governing an eligible liability as well as any accompanying offering document - Include a clause in the contractual provisions governing any eligible liability through which investors provide express submission to the Canadian bail-in regime - TLAC and TLAC leverage ratios are disclosed in the Bank's Quarterly Report and Supplementary Regulatory Capital Disclosures Bail-in is not the only path in Canada to resolve a failing bank. Canadian authorities retain full discretion to use other powers including "vesting order", "receivership order", "bridge bank resolution order", etc. • Equity conversion under the Canadian bail-in regime has the potential to result in realizable value in excess of principal amount 1 Yankee CD's with original term > 400 days are in-scope of bail-in 2 As per definition of structured notes in section 2(6) of the Bank Recapitalization (Bail-in) Conversion Regulations under the CDIC Act 3 Adjusted to fully include subordinated debentures with a remaining term of one to five years 4 Provided such bail-in debt meets certain other requirements 73#74Appendix 4 Covered Bonds#75Global Registered Covered Bond Program Highlights • • Able to issue across multiple currencies such as CAD, USD, EUR, GBP, AUD and CHF CAD$51.9 billion outstanding1 (of which $7.5 billion is self-issued) vs. $100 billion program size² • Extensive regulatory oversight and pool audit requirements • Mandatory property value indexation ⚫ CMHC prescribed disclosure requirements • Program carries the ECBC Covered Bond Label Issuer Guarantor Guarantee Status Program Size Ratings Cover Pool Asset Percentage Law The Bank of Nova Scotia Scotiabank Covered Bond Guarantor Limited Partnership Payments of interest and principal in respect of the covered bonds are irrevocably guaranteed by the Guarantor. The obligations under the Covered Bond Guarantee constitute direct obligations of the Issuer and are secured by the assets of the Guarantor, including the Portfolio. The covered bonds will constitute legal, valid and binding direct, unconditional, unsubordinated and unsecured obligations of the Bank and will rank pari passu with all deposit liabilities of the Bank without any preference among themselves and at least pari passu with all other unsubordinated and unsecured obligations of the Bank, present and future. CAD $100 billion² Aaa / AAA / AAA (Moody's / Fitch / DBRS) First lien uninsured Canadian residential mortgage loans with LTV limit of 80% 94.8% Ontario, Canada 144A/Reg S (UKLA Listed) Issuance Format 1 As at April 28, 2022. 2 Effective April 6, 2021, OSFI limit for issuance is 5.5% of Total Assets. 75#76Global Registered Covered Bond Program¹ Portfolio Summary Statistics LOAN-TO-VALUE RATIOS² 46% 35% 6% CREDIT SCORES³ 65% 13% 5% <1% <1% 1% 17% 11% 0-20% 20-40% 40-60% 60-80% 80+% <599 600-650 651-700 701-750 751-800 800+ REMAINING TERM DISTRIBUTION (MONTHS) PROVINCIAL DISTRIBUTION 27% 19% 13% 9.3% Alberta 0.2% Territories 2.0% Saskatchewan 17% 13% 1.9% 11% Quebec <12 12-23.99 24-35.99 36-41.99 42-47.99 48+ 0.2% P.E.I. 1 As at April 28, 2022. Charts may not add due to rounding 2 Uses indexation methodology as outlined in Footnote 1 on page 3 of the Scotiabank Global Registered Covered Bond Monthly Investor Report 3 Excludes unavailable credit scores 59.3% Ontario 1.1% Manitoba 22.1% British Columbia 1.7% 0.8% New Brunswick 1.3% Newfoundland Nova Scotia 76#77Canadian Legislative Covered Bonds (CMHC Registered) • Basis for Valuation of Mortgage Collateral Substitute Assets • Substitute Assets Limitation Cash Restriction Coverage Test • • Canadian Registered Covered Bond Programs Guide issued by Canada Mortgage and Housing Corporation (CMHC) . Canadian Registered Covered Bond Programs' Legal Framework (Canadian National Housing Act) Issuance Framework • Eligible Assets • Mortgage LTV Limits Uninsured loans secured by residential property in Canada . LTV limit of 80% • Issuers are required to index the value of the property underlying mortgage loans in the covered pool while performing various tests Securities issued by the Government of Canada Repos of Government of Canada securities having terms acceptable to CMHC 10% of the aggregate value of (a) the loans (b) any Substitute Assets and (c) all cash held by the Guarantor The cash assets of the Guarantor cannot exceed the Guarantor's payment obligations for the immediately succeeding six months Asset coverage Test Amortization Test Overcollateralization Credit Enhancement • Reserve Fund • Covered bond swap, forward starting Swaps • Interest rate swap, forward starting • Valuation calculation Market Risk Reporting • Mandatory property value indexation Covered Bond Supervisory Body • CMHC Requirement to Register Issuer and Program • Yes; prior to first issuance of the covered bond program Registry • Yes • Disclosure Requirements • Monthly investor report with prescribed disclosure requirements set out by CMHC Investor reports must be posted on the program website 77#78Appendix 5 Additional Information#79Medium-Term Financial Objectives All-Bank Objectives¹ EPS Growth² 7%+ ROE² 14%+ Operating Leverage² Positive Capital³ Strong Levels 13-5 year targets from 2020 Investor Day 2 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Second Quarter 2022 Report to Shareholders, available on http://www.sedar.com 3This measure has been disclosed in this document in accordance with OSFI Guideline - Capital Adequacy Requirements (November 2018). 79#80Additional Information • Scotiabank Listings: Toronto Stock Exchange (TSX: BNS) • CUSIP: . ISIN: Scotiabank Common Share Issue Information: 064149107 CA0641491075 • New York Stock Exchange (NYSE: BNS) • . FIGI: NAICS: BBGOOOBXSXH3 522110 Scotiabank Credit Ratings Moody's Investors Standard & Poor's Fitch Ratings Services Dominion Bond Rating Service Ltd. Aa2 A+ AA Legacy Senior Debt¹ Senior Debt² AA A2 A- AA- AA (low) Subordinated Debt (NVCC) Baa1(hyb) BBB+ A (low) Short Term Deposits/Commercial Paper P-1 Covered Bond Program Aaa Not Rated AAA Outlook Stable Stable Negative A-1 F1+ R-1 (high) AAA Stable Includes: (a) Senior debt issued prior to September 23, 2018; and (b) Senior debt issued on or after September 23, 2018 which is excluded from the bank recapitalization "bail-in" regime 2 Subject to conversion under the bank recapitalization "bail-in" regime 80 60#81Contact Information Investor Relations John McCartney Senior Vice President 416-863-7579 [email protected] Mark Michalski Director 416-866-6905 [email protected] Sophia Saeed Vice President 416-933-8869 [email protected] Rene Lo Director 416-866-6124 [email protected] Funding Martin Weeks Acting Group Treasurer 416-933-3728 [email protected] 81