#1Fixed Income Investor Presentation 012021 Results יוויןוןי All figures are in Canadian dollars and as at March 31, 2021, unless otherwise specified. Desjardins#2Caution Concerning Forward Looking Statements Desjardins This presentation contains forward-looking statements regarding, among other things, Desjardins Group's business objectives and priorities, financial targets and maturity profile. These statements include, but are not limited to, observations regarding the possible impact of the COVID-19 pandemic on its operations, results and our financial position, as well as on economic conditions and financial markets. Such statements are typically identified by words or phrases such as "believe", "expect", "anticipate", “intend”, “estimate”, “plan”, “forecast”, “aim" and "may", words and expressions of similar import, and future and conditional verbs. By their very nature, such statements involve assumptions, uncertainties and inherent risks, both general and specific. It is therefore possible that, due to many factors, the assumptions formulated may be incorrect, or the predictions, forecasts or forward-looking statements as well as Desjardins Group's objectives and priorities may not materialize or may prove to be inaccurate and that actual results differ materially. Furthermore, the uncertainty created by the COVID-19 pandemic has sharply increased this risk by generating additional difficulties in determining assumptions, forecasts or other forward-looking statements compared to previous periods. Desjardins Group cautions readers against placing undue reliance on these forward-looking statements when making decisions, given actual results, conditions, actions or future events could differ significantly from the targets, expectations, estimates or intentions advanced in them, explicitly or implicitly. A number of factors, many of which are beyond Desjardins Group's control and the effects of which can be difficult to predict, could influence, individually or collectively, the accuracy of the forward-looking statements in this presentation. These factors include in particular: credit, market, liquidity, operational, insurance, strategic and reputation risks; pension plan risk; environmental or social risk; legal and regulatory risk; COVID-19 pandemic; climate change; government, corporate and household indebtedness; technological advancement and regulatory developments; interest rate fluctuations and geopolitical uncertainty; general economic and business conditions in regions in which Desjardins Group operates; security breaches; monetary policies; the critical accounting estimates and accounting standards applied by Desjardins Group; new products and services to maintain or increase Desjardins Group's market share; geographic concentration; acquisitions and joint arrangements; credit ratings; changes in tax laws; unexpected changes in consumer spending and saving habits; talent recruitment and retention of key positions; the ability to implement Desjardins Group's disaster recovery plan within a reasonable time; the potential impact on operations of international conflicts; public health crises, such as pandemics and epidemics, or any other similar disease affecting the local, national or global economy; and Desjardins Group's ability to anticipate and properly manage the risks associated with these factors properly despite a disciplined risk management environment. It is important to note that the above list of factors that could influence future results is not exhaustive. Other factors could have an adverse effect on Desjardins Group's results. Additional information about these and other factors is found in the “Risk management” sections of Desjardins Group's most recently published annual and any subsequent quarterly MD&As and in the section “COVID-19 pandemic" of Desjardins Group's last annual and quarterly MD&As. Any forward-looking statements contained in this presentation represent the views of management only as at the date hereof, and are presented for the purpose of assisting readers in understanding and interpreting Desjardins Group's balance sheet as at the dates indicated or its results for the periods then ended, as well as its strategic priorities and objectives as considered on the dates hereof. These statements may not be appropriate for other purposes. Desjardins Group does not undertake to update any oral or written forward-looking statements that could be made from time to time by or on behalf of Desjardins Group, except as required under applicable securities legislation. DISCLAIMER 2#3About DESJARDINS 6th Largest financial institution in Canada¹ 7.5 Million members and clients Desjardins > 50,000 employees $798 Million Surplus earnings as at March 31, 2021 $377 Billion Total assets as at March 31, 2021 22.1% Tier 1A (CET1 ratio for Banks) $445 Million in 2020 Redistributed to members and the community A Strong, Shared Commitment to Action On climate change Carbon Neutral Since 2017 Ambition To become everyone's #1 choice Forbes Named one of the world's top 100 best employers 1. By asset size. GLOBAL FINANCE 6th safest financial institution in North America and 34th in the world The Banker GLOBAL FINANCIAL INTELLIGENCE SINCE 1926 Ranked the best performing financial institution in Canada ABOUT DESJARDINS 3#4Organizational Chart Capital Desjardins Inc. Desjardins Security Fund 215 caisses Fédérations des caisses Desjardins du Québec Desjardins Desjardins Financial Security Desjardins General Insurance Group Desjardins Securities Desjardins Global Asset Management Desjardins Trust ORGANIZATIONAL CHART 4#5Desjardins FINANCIAL RESULTS 5#6Key Highlights ADJUSTED SURPLUS EARNINGS ($M) 2,419 TOTAL ASSETS ($B) Desjardins الستالا 2018¹ 2019¹ 2020 Q1 2020 Q1 2021 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 PROVISIONS FOR CREDIT LOSSES ($M) 324 271 99 169 4 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 CAPITAL AND TLAC RATIOS TIER 1A (CET1): 22.1% TOTAL: 22.6% LEVERAGE RATIO: 8.7% TLAC: 25.5% 1. Adjusted to exclude non-recurrent gains related to the sale of the portfolio of merchants receiving Desjardins Group services under the Monetico brand (2019), the transaction involving Qtrade Canada Inc. and the interest in Northwest & Ethical Investments L.P. (2018). FINANCIAL RESULTS 6#7Desjardins Personal and Business Services ABOUT DESJARDINS¹ Caisses² ADJUSTED SURPLUS EARNINGS ($M) 1,604 215 Points of sale 851 1,300 1,314 ATM 1,687 Market shares in Quebec 118% ◆ Personal savings 41% ♦ Residential mortgages 39% ◆ Agricultural credit 414 190 39% ♦ Consumer credit 24% 20% 2018 20193 2020 Q1 2020 Q1 2021 • Commercial & Industrial AWARDS AND RECOGNITION ◆ Voted the "coolest" financial institution in 2018 and second "coolest" in 2019 according to Quebec millennials. ◆ Named one of the world's top 100 best employers by Forbes Magazine. ◆ Named one of Canada's top employers for Young People. 165 ASSETS AND DEPOSITS ($B) 201 203 204 206 185 186 183 175 209 ◆ Named one of Canada's top Family-Friendly employers. Q1 2020 Q2 2020 Q3 2020 Average deposits Q4 2020 Average loans Q1 2021 1. As at December 31, 2020 2. As at March 31, 2021 3. Adjusted to exclude the gain related to the sale of the entire portfolio of merchants receiving Desjardins Group services under the Monetico brand. FINANCIAL RESULTS 7#8Desjardins Wealth Management and Life and Health Insurance PAN-CANADIAN PRESENCE¹ ASSETS UNDER MANAGEMENT ($B) Wealth Management #1 in Quebec and #1 in Canada for market-linked guaranteed investments Life and Health Insurance #3 in Quebec #5 in Canada ADJUSTED SURPLUS EARNINGS ($M) 737 697 I 609 I 57.4 67.6 77.5 63.4 77.2 2018 2019 2020 Q1 2020 Q1 2021 PREMIUMS ($B) 503 547 526 872 893 901 -163 167 125 222 222 3,301 3,249 3,284 832 840 -41 2018 2019 2020 Q1 2020 Q1 2021 2018² 2019 2020 Q1 2020 Q1 2021 Group premiums Individual premiums Annuity premiums 1. As at December 31, 2020 2. Adjusted to exclude the gain related to the transaction involving Qtrade Canada Inc. and the interest in Northwest & Ethical Investments L.P. FINANCIAL RESULTS 8#9Property and Casualty Insurance PAN-CANADIAN PRESENCE¹ ◆ Important Property and Casualty insurer #2 in Quebec #2 in Canada 28th consecutive year of underwriting profits ◆ Auto insurance premium discounts of $155M granted to members and clients as a relief measure to support them during the COVID-19 pandemic. RATIOS (%) Desjardins 99.1 96.5 90.5 86.2 79.0 73.9 71.7 66.8 62.6 56.2 25.2 24.8 23.6 23.7 22.8 2018 2019 2020 Loss ratio Expense ratio Q1 2020 Q1 2021 Combined ratio ADJUSTED SURPLUS EARNINGS ($M) 622 I 240% GROSS WRITTEN PREMIUMS ($M) 5,726 5,536 4,920 | ula illa 173 187 73 248 1,244 5.7% 1,315 2018 2019 1. As at December 31, 2020 2020 Q1 2020 Q1 2021 2018 2019 2020 Q1 2020 Q1 2021 FINANCIAL RESULTS 9#10Desjardins BALANCE SHEET QUALITY 10#11Loan Portfolio GROSS IMPAIRED LOANS RATIO Desjardins 1.35% 1.43% 1.44% 1.38% LOAN BOOK AND ACCEPTANCES 1.08% 1.05% 1.10% 0.94% 0.84% 0.75% 0.63% 0.64% 0.62% 0.56% 0.57% 0.26% 0.26% 0.27% 0.27% 0.23% 24% Business and government 12% Consumer, credit cards and other loans Total of $216B 64% Q1 2020 Q2 2020 Residential mortgages Business and government Q3 2020 Q4 2020 Q1 2021 Cons., credit cards and other loans Total loan portofolio GROSS IMPAIRED LOANS AND NEW FORMATIONS 1,307 1,340 1,323 1,236 1,167 Residential 634 mortgages 483 440 Q1 2020 Q2 2020 New formations ($M) Q3 2020 851 608 Q4 2020 Q1 2021 Gross impaired loans (M$) BALANCE SHEET QUALITY 11#12COVID-19 - Members and Clients Assistance Programs ◆ Substantial decline in deferral exposure. ♦ We maintain relief measures, notably for harder hit members and clients, such as: ◆ Payment relief for all their financing products ♦ Reduce interest rates on credit cards ◆ Personalized support for regaining good. financial health ◆ All relief demands are analysed on a case-by-case basis. Desjardins DECREASE IN DEFERRAL EXPOSURE ($B) Total: 35.3 Total : 9.8 Total: 3.6 Total: 3.3 1.2 16.2 0.2 17.9 5.0 4.6 0.1 1.7 1.8 0.1 1.4 1.8 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Residential mortgages Cons., credit cards and other loans Business and government Active deferrals Expired deferrals 1 Product types Balance ($B) % of portfolio Balance ($B) % Current % Delinquent balance Residential mortgages 1.8 1.3 16.9 99.3 0.7 Insured 0.4 1.0 5.9 99.1 0.9 Uninsured and Heloc's 1.4 1.4 10.9 99.4 0.6 Consumer, credit cards and other loans 0.1 0.3 1.9 96.0 4.0 Credit cards 0.02 0.2 0.9 94.3 5.7 Personal loans 0.04 0.3 1.0 97.4 2.6 Business and government 1.4 2.7 15.9 99.5 0.5 1. Amounts have been reclassified to represent the categories shown in our financial statements. BALANCE SHEET QUALITY 12#13Residential Mortgage Loan Portfolio RESIDENTIAL MORTGAGE PORTFOLIO Desjardins GROWTH IN RESIDENTIAL PORTFOLIO ($B) Heloc (term mortgages) 39% 4% Heloc (lines of credit) Total of $138B 138 136 134 132 128 127 Insured 27% 30% Average LTV of 55.2% Conventional term mortgages Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 GROSS IMPAIRED LOANS 0.27% 0.27% 0.26% 0.26% 0.26% 0.23% 374 366 341 333 326 323 Q4 2019 Q1 2020 Q2 2020 Residential mortgages GIL amount in $M Q3 2020 Q4 2020 Q1 2021 Residential mortgages GIL ratio (%) BALANCE SHEET QUALITY 13#14Business and Government loan portfolio Portfolio of high quality and well diversified. Gross impaired loans ratio of 1.38%. ♦ Mining, oil and gas represent 0.7% of Business and Government loan portfolio. Desjardins % Gross loans Borrower category of portfolio ($M) Impaired loans ($M) Gross impaired loans ratio (%) Q1 2021 Q4 2020 Q3 2020 Real estate 22 11,629 37 0.32 0.41 0.20 Agriculture 19 9,839 111 1.13 1.28 1.12 Manufacturing 8 4,292 117 2.73 2.57 2.94 Construction 4,124 112 2.72 3.00 4.23 Health care 7 3,772 33 0.87 0.95 0.98 Retail trade 7 3,646 60 80 2.19 2.15 2.47 Public agency 6 3,119 Accommodation 1,886 51 2.70 2.62 1.91 Wholesale trade 3 1,676 33 1.97 2.23 1.06 Transportation 3 1,349 35 2.59 2.50 2.40 Rest of the portfolio 13 7,356 118 1.60 1.52 1.58 Total 100 52,688 727 1.38 1.44 1.43 BALANCE SHEET QUALITY 14#15Exposure COVID-19 - Most impacted industries Desjardins We continue to support and offer solutions to our members and clients. In partnership with the Quebec and Canadian governments, we participate in assistance programs that provide liquidity to finance operations or increase the working capital of businesses having temporary difficulties due to the COVID-19 pandemic. Sectors most impacted by the COVID-19 represent 6% of our total loan portfolio. TOTAL LOAN PORTFOLIO Total of $216B COVID-19 Most impacted sectors COVID-19: Most impacted sectors $B % of total loan portfolio Selected vulnerable segments Accommodation and food 2.0 0.9 All segments services Arts and entertainments 0.8 0.4 All segments Information industry 0.1 0.0 Film and sound recording industries Mining, oil and gas 0.3 0.2 Real estate 6.7 3.1 Retail trade 1.7 0.8 All segments Shopping centers Auto dealers, electronics and appliance stores, furniture, clothing stores Transport activities: Air transport, Transportation 1.3 0.6 sightseeing and leisure, public transport and land passenger, truck, water Total 12.9 6.0 BALANCE SHEET QUALITY 15#16Desjardins LIQUIDITY and FUNDING 16#17Robust Liquidity Position TOTAL DEPOSITS Business and government 25% 56% Individual deposits Total of $232B Long term wholesale funding 12% 6% Short terms funding 1% Subordinated debt (NVCC and CDI) 81% from personal & business sectors LIQUIDITY PORTFOLIO 80% Canadian, provincial and other governments Desjardins Other issuers 13% Equities Total of $83B 7% 80% in high quality assets LIQUIDITY AND FUNDING 17#18Mid-Long term Short term Global Funding Programs PROGRAM Commercial paper - Canada CURRENCY LIMIT Canadian None Commercial paper - United States United States US$15B Commercial paper - Europe Euro €3B Medium term notes - Canada Medium-term and subordinated notes Canadian C$10B Multi-currency €7B Covered Bonds Multi-currency C$17B Securitization program (CMHC) NVCC Subordinated debts Canadian Allocation Canadian C$3B LIQUIDITY AND FUNDING 18 Desjardins#19Global Funding Programs BY PROGRAM TYPE BY CURRENCY ¹ Mortgage securitization 28% 30% Short term debt Covered Bonds 22% USD 31% Total of $44B 17% Term debt 2% Subordinated debt (NVCC) 1% Subordinated debt non-NVCC (CDI) Total of $44B 1. Exchange rate used at the time of issuance of securities. Desjardins EUR 13% 2% 54% CAD GBP LIQUIDITY AND FUNDING 19#20Maturity Profile In $M, as at March 31, 2021 7,000 6,000 5,000 3,629 2,500 1,326 4,000 3,000 1,730 1,030 2,000 500 733 780 1,142 1,756 3,233 2,258 1,807 1,000 1,000 1,850 1,520 1,330 800 1,000 1,000 0 2021 Term debt Covered Bonds Note: exchange rate used at the time of issuance of securities. 2022 2023 2024 2025 >2026 Subordinated debt non-NVCC (CDI) Subordinated debt NVCC Mortgage securitization Desjardins LIQUIDITY AND FUNDING 20#21Desjardins CAPITAL and BAIL-IN 21#22☐ Desjardins Capital One JP Morgan TD Bank of America Northern Trust Bank of NY Mellon 1. As at Q1 2021 for Canadian Banks and American Banks. Only American Banks with more than US$60B of deposits are illustrated. Sources: Financial Reports of Desjardins Group, American Banks and Canadian Banks Wells Fargo 14.6 13.7 RBC 22.1 Tier 1A/ CET1 Leading North American Financial Institution TIER 1A OR COMMON EQUITY TIER 1 CAPITAL RATIO (%)¹ 13.6 13.0 12.8 12.6 12.6 12.5 12.4 12.3 12.3 12.2 BMO CIBC PNC BNS State Street Citigroup NBC Fifth Third Bank CAPITAL AND BAIL-IN 22 Truist US Bancorp 11.9 11.7 11.7 10.5 10.1 9.9 Canadian Banks American Banks Desjardins#23Tier 1A Capital and Leverage Ratios Desjardins LEVERAGE RATIO BMO 4.8% RBC 4.8% BNS 4.7% Desjardins TIER 1A CAPITAL RATIO (CET1) 8.7% Desjardins TD 13.6% RBC 12.5% BMO 12.4% CIBC 4.7% CIBC 12.3% TD 4.5% NBC 4.3% Canadian Banks (average) 4.6% Sources: Canadian Banks and Desjardins Group's Financial Reports BNS 12.2% NBC 11.7% Canadian Banks (average) 12.5% Total Loss Absorbing Capacity (TLAC) TLAC Ratio TLAC Leverage Ratio 25.5% 10.0% 22.1% CAPITAL AND BAIL-IN 23#24Credit Ratings Desjardins MOODY'S S&P DBRS FITCH Counterparty/Deposits¹ Short-term debt Aa1 A+ AA AA P-1 A-1 R-1 (high) F1+ Senior medium and long-term legacy debt² Aa2 A+ AA AA 3 Senior medium and long-term debt A2 A- AA (low) AA- NVCC subordinated notes A2 BBB+ A (low) A Covered Bonds Aaa - AAA Outlook Stable Stable Stable Stable 1. Represents Moody's Counterparty Risk Rating and Deposit Rating, S&P's Issuer Credit Rating, DBRS' Long Term Deposit Rating and Fitch's Long-Term Issuer Default Rating, counterparty Rating and Long Term Deposit Rating. 2. Includes senior debt issued prior to March 31, 2019, and senior debt issued on or after March 31, 2019, which is excluded from the recapitalization regime applicable to Desjardins. 3. Includes senior debt issued on or after March 31, 2019, subject to conversion under the recapitalization regime applicable to Desjardins. CAPITAL AND BAIL-IN 24#25Contact information INVESTOR RELATIONS PATRICK NADEAU Head of Investor and Rating Agency Relations 1-866-866-7000 ext. 5558634 [email protected] www.desjardins.com/ca/about-us/investor-relations Desjardins Complexe Desjardins, Montreal CONTACT INFORMATION 25