#1Investor Presentation December 2020 Scotiabank®#2Caution Regarding Forward-Looking Statements From time to time, our public communications often include oral or written forward- looking statements. Statements of this type are included in this document, and may be included in other filings with Canadian securities regulators or the U.S. Securities and Exchange Commission, or in other communications. In addition, representatives of the Bank may include forward-looking statements orally to analysts, investors, the media and others. All such statements are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. Forward-looking statements may include, but are not limited to, statements made in this document, the Management's Discussion and Analysis in the Bank's 2020 Annual Report under the headings "Outlook" and in other statements regarding the Bank's objectives, strategies to achieve those objectives, the regulatory environment in which the Bank operates, anticipated financial results, and the outlook for the Bank's businesses and for the Canadian, U.S. and global economies. Such statements are typically identified by words or phrases such as "believe," "expect," "foresee," "forecast," "anticipate," "intend," "estimate," "plan," "goal," "project," and similar expressions of future or conditional verbs, such as "will," "may," "should," "would" and "could." By their very nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, which give rise to the possibility that our predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that our assumptions may not be correct and that our financial performance objectives, vision and strategic goals will not be achieved. We caution readers not to place undue reliance on these statements as a number of risk factors, many of which are beyond our control and effects of which can be difficult to predict, could cause our actual results to differ materially from the expectations, targets, estimates or intentions expressed in such forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: general economic and market conditions in the countries in which we operate; changes in currency and interest rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the failure of third parties to comply with their obligations to the Bank and its affiliates; changes in monetary, fiscal, or economic policy and tax legislation and interpretation; changes in laws and regulations or in supervisory expectations or requirements, including capital, interest rate and liquidity requirements and guidance, and the effect of such changes on funding costs; changes to our credit ratings; operational and infrastructure risks; reputational risks; the accuracy and completeness of information the Bank receives on customers and counterparties; the timely development and introduction of new products and services; our ability to execute our strategic plans, including the successful completion of acquisitions and dispositions, including obtaining regulatory approvals; critical accounting estimates and the effect of changes to accounting standards, rules and interpretations on these estimates; global capital markets activity; the Bank's ability to attract, develop and retain key executives; the evolution of various types of fraud or other criminal behaviour to which the Bank is exposed; disruptions in or attacks (including cyber-attacks) on the Bank's information technology, internet, network access, or other voice or data communications systems or services; increased competition in the geographic and in business areas in which we operate, including through internet and mobile banking and non-traditional competitors; exposure related to significant litigation and regulatory matters; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; the emergence of widespread health emergencies or pandemics, including the magnitude and duration of the COVID-19 pandemic and its impact on the global economy, 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 2020 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 2020 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 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: Additional Information Contact Information + 2 21 26 34 37 40 48 48 55 63 67 70 3#4• Scotiabank Leading Bank in the Americas Business Lines² Core Markets¹ #3 in Canada #3 in P&C Banking #3 in Peru #4 in Chile #2 in Capital Markets #5 in Mexico #6 in Colombia 1 Core Markets rankings based on latest available market share data on loans for publicly traded banks as of November 30, 2020 2 Business Line rankings based on Total Net Income for publicly traded banks in Canada as of July 31, 2020 #3 in Wealth 4#5Leading Bank in the Americas¹ Core markets: Canada, US, Mexico, Peru, Chile and Colombia 7th largest bank by assets¹ in the Americas Change Full-Service, Universal Bank Canada Scotiabank2 Revenue Net Income FY2020 FY/FY $31,139MM $6,961MM (26%) Return on Equity 10.4% (350 bps) Mexico Peru Chile Colombia Operating Leverage +1.0% n.a. Productivity Ratio 53.0% +30 bps Total Assets Caribbean Uruguay $1.1T +5% CET1 Ratio 11.8% +70 bps Ranking by Market Share³ Wholesale Operations Canada #3 USMCA USA Top 15 FBO USA UK Mexico #5 Peru #3 Singapore Australia Ireland PAC Chile Colombia #4 #6 Hong Kong SAR China Brazil Malaysia Earnings by Market2,4 India Japan Other- C&CA 3% 6% PAC 16% 1 Ranking by asset as at November 27, 2020, Bloomberg; 2 Adjusted for acquisition and divestiture-related amounts, impact of additional pessimistic scenario in ACLS, Derivative Valuation Adjustment, and impairment charge on software asset. Operating Leverage excludes divested operations; 3 Ranking based on market share in loans as of September 2020 in Mexico, Peru and Chile, as of August 2020 in Colombia, as of July 2020 in Canada for publically traded banks; 4 Adjusted net income attributable to equity holders of the Bank for the 12 months ended October 31, 2020 U.S.A 64% Canada 11% 5#6Well-Diversified Business with Strong Returns Earnings by Business Line 1,2 Wealth Management 18% Global Wealth Management Earnings by Market1,2,4 Caribbean and Central America Other C&CA 6% Europe, Asia, Brazil, Australia Wholesale Banking 29% 18% Global Banking and Markets 29% FY2020 EARNINGS MIX $7.1B³ Canadian Chile 5% 3% Banking P&C Personal & Commercial Peru 6% 37% Banking Mexico 53% 5% U.S. 11% International Banking P&C 16% FY2020 EARNINGS MIX $7.1B3 Canada 64% Adjusted Return on Equity 1,2 by Business Line 3-year average ROE 21.6% 15.0% 14.9% 13.1% 11.6% 15.5% 14.0% 15.4% 10.4% 5.8% International Banking Global Wealth Management Global Banking and Markets All Bank Canadian Banking 1 Net income attributable to equity holders for the 12 months ended October 31, 2020; 2 Adjusted for acquisition and divestiture-related amounts, impact of additional pessimistic scenario in ACLs, Derivative Valuation Adjustment, and impairment charge on software asset; 3 Excludes Other segment; 4 Excludes Colombia (loss) 6#7Business Lines Activity Business Line Products Personal & Commercial Banking Canadian Banking Mortgages Auto Loans Commercial Loans • Personal Loans • Credit Cards International Banking • Mortgages Auto Loans Commercial Loans • Personal Loans • Credit Cards Wealth Management Global Wealth Management Asset Management • Private Banking • Private Investment Counsel Brokerage ⚫ Trust Capital Markets Global Banking and Markets Corporate Banking • Advisory Equities Fixed Income Foreign Exchange Commodities $2,034 NIAEH¹ ($MM) $2,604 $1,148 $1,297 % All-Bank¹ 37% 16% 18% 29% % Target 35-40% 25-30% ~15% 15-20% Productivity 46.5% 53.1% 61.5% 45.1% Ratio¹ ROE1 15.5% 5.8% 14.0% 15.4% Total Assets² ($B) $358.8 $206.4 $26.0 $412.1 Employees³ 18,085 47,296 7,121 2,403 1 Adjusted figures for the 12 months ended October 31, 2020 2 Average balance for fiscal year 2020 3 As at October 31, 2020 7#8Why Invest in Scotiabank? Leading bank in the Americas • • Six core markets: Canada, US, Mexico, Chile, Peru and Colombia ~90% of earnings from the Americas Diversified exposure to high quality growth markets , Increasing scale and market share in core markets • $ Strong risk culture: solid credit quality, well provisioned ☑ Acceleration in Digital Banking in 2020 • • Only universal bank with full presence in all Pacific Alliance countries Unique Americas footprint provides diversified exposure to higher growth, high ROE banking markets 229 million people in the Pacific Alliance countries comprise the 6th largest economy in the world • Competitive scale and increasing market share in core markets Competitive advantages in technology, risk management, and funding versus competitors • Increased scale in Wealth Management and P&C businesses via M&A Strong Canadian risk management culture with strong capabilities in AML and cybersecurity Focus on secured and investment-grade lending • $7.8 billion in allowances as of Q4/20 • Increased Digital Adoption to 48% Surpassed target for In-Branch Financial Transactions of <10% Named "Best Bank in North America for Innovation in Digital Banking #1 ranking for "Online Banking Satisfaction" - J.D. Power 8#9Focused on Higher Return Markets More Attractive Banking ROEs in Canada and Latam (Latest Reporting Period) 20% 15.3% 14.3% 15% 11.0% 12.4% 10.0% 10% 11.2% 3-year average ROE 9.6% 7.4% 5.6% 5% 0% Canada Latam Asia >75% of All-Bank earnings Return on equity in latest reporting period as of November 30, 2020 Canada and US figures are average for five largest and 10 largest market share banks in each country, respectively Sources: Bloomberg LLP, Company Financial Reports 2.2% S US Europe 9#10Increasing Banking Penetration Banking Penetration (%)¹ 150 Growth Markets 100 Brazil Chile Colombia C&CA 50 PAC Peru ⚫ Cambodia Mexico Czech Republic Mature Markets Canada U.K. Spain U.S. Bubble size represents nominal GDP Scotia P&C Markets Scotia Americas Wholesale Markets Other Markets (Included for comparison purposes) $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 GDP per Capita (US$)² 1 Source: World Bank Open Data 2018. Banking Penetration is defined as account ownership at a financial institution or with a mobile-money-service provider (% of population ages 15+) 2 Source: World Bank Open Data 2018. GDP per capita is nominal gross domestic product divided by mid year population 10 10#11Economic Outlook in Core Markets Real GDP Growth Forecast (2019-2021) Real GDP (Annual % Change) Forecast 1,2 2010-19 Country 2020 2021 Average Q1 Q2 Q3E Q4F FY Q1F Q2F Q3F Q4F FY Canada 2.2 -0.3 -12.5 -5.2 -4.9 -5.7 -2.4 11.5 3.7 4.1 4.2 U.S. 2.3 0.3 -9.0 -2.9 -2.7 -3.6 -1.2 10.1 3.9 3.9 4.2 Mexico 2.7 -1.3 -18.7 -8.6 -7.6 -9.1 -5.0 15.1 21 2.1 3.0 3.8 Peru 4.8 -3.5 -29.8 -9.4 -3.3 -11.5 -0.8 30.1 4.4 6.3 10.0 Chile 3.6 0.2 -14.5 -9.1 2.6 -5.2 1.5 15.3 7.5 -2.1 5.6 Colombia 3.8 1.4 -15.7 -9.3 -6.2 -7.5 -3.2 14.1 5.8 3.4 5.0 PAC Average 3.7 -0.5 -16.7 -7.4 -3.7 -7.1 -1.9 16.0 4.6 =1 3.1 5.5 Source: Scotiabank Economics. 1 Forecasts for Canada and U.S. as of the December 4, 2020 Scotiabank Global Forecast Tables. 2 Forecasts for PAC countries as of the November 28, 2020 Latam Weekly publication. 11#12Customer Assistance Programs (As of October 31, 2020) Retail Product Types¹ Canada Mortgages Number of customer accounts¹ Amount outstanding¹ % Current following Deferral Expiry 1,2 #('000s) % ($B) % Credit Cards Personal Loans³ Total/Average 6363 16 45.7% $4.26 87.1% 98.0% 8.6% $0.02 0.4% 85.3% 16 45.7% $0.61 12.5% 92.8% 35 100% $4.89 100.0% 97.2% Change from September 30, 2020 -$11.5 Change from July 31, 2020 -$36.6 International Mortgages 36 7.3% $3.70 61.6% 90.5% Credit Cards 299 61.4% $0.96 16.0% 81.6% Personal Loans³ 152 31.2% $1.34 22.4% 87.0% Total/Average 486 100.0% $6.00 100.0% 87.8% Change from September 30, 2020 -$2.5 Change from July 31, 2020 -$12.1 Canada Commercial & Small Business ($B) International Total Deferral Balance ($B)5 Significant Decrease in Deferral Exposure Active Deferral Customers Active Total Exposures4 ($B) 74.3 69.6 -96% #('000s) 10.6 10.0 0.7 0.2 0.7 4.6 63.7 59.6 1.4 4.8 1 As at October 31st 2020 2 Canadian payments % includes accounts that have not yet completed first billing cycle since expiring Q2/20 Q3/20 ■Retail 393% of active deferred Personal Loans in Canada are Auto Loans, 16% of active deferred Personal Loans in International are Auto Loans 4 Figures relate to active deferral exposures and exclude amounts related to covenant relief requests 5 Prior period amounts have been restated to conform to current period presentation 6 Of the $3.0 billion of deferral balance expected as at Q1/21, $1.1 billion relates to retail loans and $1.9 billion relates to commercial loans 15.7 4.8 10.9 Q4/20 Commercial & Small Business 3.06 Q1/21E 12 13#13Fiscal 2020 Financial Performance $MM, except EPS Reported 2020 Y/Y Net Income $6,853 (22%) Pre-Tax, Pre Provision Profit $14,480 +1% • Diluted EPS $5.30 (21%) Revenue $31,336 +1% Expenses $16,856 +1% Productivity Ratio 53.8% (10 bps) • Core Banking Margin 2.27% (17 bps) PCL Ratio¹ 98 bps +47 bps • PCL Ratio on Impaired Loans¹ 56 bps +7 bps Adjusted² Net Income $6,961 (26%) Pre-Tax, Pre Provision Profit $14,625 (1%) Diluted EPS $5.36 (25%) Revenue $31,139 Expenses $16,514 Productivity Ratio 53.0% PCL Ratio1 95 bps +1% +30 bps +46 bps • ADJUSTED NET INCOME² YEAR-OVER-YEAR ($MM) HIGHLIGHTS Adjusted EPS² down 25%, largely impacted by PCLs related to the COVID-19 pandemic Adjusted pre-tax, pre-provision profit² down 1%, or up 5% excluding impact of divestitures Adjusted revenue² was flat, or up 4% excluding impact of divestitures Core banking margin decreased 17 bps o Lower margins due to changes in business mix and the declining interest rate environment, as well as higher liquidity levels Adjusted expenses² increased 1%, or 3% excluding impact of divestitures Adjusted operating leverage² of negative 0.6%, or positive 1.0% excluding impact of divestitures ADJUSTED NET INCOME 2,3 BY BUSINESS SEGMENT ($MM) 143 -26% 9,409 -165 -60%4 -3,053 719 +33% -92 6,961 +7% 3,504 2,604 2,953 1,148 1,215 1,297 1,534 2,034 2019 NII Non interest PCLS income Non-interest Taxes 2020 Canadian Banking expenses 1 Includes provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures 2 Refer to Non-GAAP Measures on slide 40 for adjusted results International Banking Global Wealth Management Global Banking and Markets 3 Attributable to equity holders of the Bank 4Y/Y growth rate is on a constant dollars basis 2019 ■2020 13#14Q4 2020 Financial Performance $MM, except EPS Q4/20 Y/Y Q/Q Reported • Net Income $1,899 (18%) +46% • Pre-Tax, Pre Provision Profit $3,448 (6%) (7%) Diluted EPS $1.42 (18%) +37% Revenue $7,505 (6%) (3%) • Expenses $4,057 (6%) +1% Productivity Ratio 54.1% +210 bps Core Banking Margin 2.22% (18 bps) +12 bps PCL Ratio1 0.73% +23 bps (63 bps) PCL Ratio on Impaired Loans¹ 0.54% +5 bps (4 bps) Adjusted² Net Income $1,938 (19%) +48% Pre-Tax, Pre Provision Profit $3,502 (7%) (6%) Diluted EPS $1.45 (20%) +39% Revenue $7,505 (6%) (2%) Expenses $4,003 (5%) +1% • Productivity Ratio 53.3% +60 bps +190 bps ADJUSTED NET INCOME² YEAR-OVER-YEAR ($MM) • YEAR-OVER-YEAR HIGHLIGHTS Adjusted EPS² down 20%; up 39% Q/Q Adjusted pre-tax, pre-provision profit² down 7%, or down 1% excluding impact of divestitures Adjusted revenue² down 6%, or down 2% excluding impact of divestitures 。 Net interest income up 1%, excluding divestiture o Non-interest income down 5%, excluding divestitures Core banking margin down 18 bps; up 12 bps Q/Q o Lower margins due to changes in business mix and the declining interest rate environment, as well as higher liquidity levels o Core Banking Margin improved sequentially driven by lower levels of liquidity Adjusted expenses² down 5%, or down 3% excluding impact of divestitures ADJUSTED NET INCOME 2,3 BY BUSINESS SEGMENT ($MM) 2,400 -78 179 194 -13% -379 -60%4 -378 1,938 +6% +14% 902 782 725 283 314 405 460 333 Q4/19 NII Non interest income PCLs Non-interest expenses Taxes Q4/20 Canadian Banking International Banking Global Wealth Management Global Banking and Markets 1 Includes provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures 2 Refer to Non-GAAP Measures on slide 40 for adjusted results 3 Attributable to equity holders of the Bank 4Y/Y growth rate is on a constant dollars basis ■Q4/19 Q4/20 14#15Earnings and Dividend Growth Strong track record of stable and predictable earnings and growing dividends Earnings per share (C$)1,2 2009-2019 CAGR: +8.0% 2010-2020 CAGR: +3.2% $3.31 60 10 11 =1 23 Dividend per share (C$) $1.96 $7.14 $5.36 19 20 +6% CAGR Total shareholder return³ Scotiabank Big 5 Peers (ex. Scotiabank) 2.7% 6.3% 4.6% 9.0% 9.3% 8.4% 5 Year 10 Year 20 Year $3.60 09 10 11 12 13 14 15 16 17 18 19 20 1 Reflects adoption of IFRS in Fiscal 2011. 2 Excludes notable items for years prior to 2016. For 2016 onwards, results adjusted for acquisition and divestiture-related amounts, impact of additional pessimistic scenario in ACLs, Derivative Valuation Adjustment, and impairment charge on software asset. ³ As of October 30, 2020. 15 15#16Strong Capital Position CET1 Ratio 11.8% +34 bps -4 bps +3 bps -1 bp +44 bps -28 bps 11.3% (1) Q3 2020 Reported Earnings Dividends RWA Impact Foreign exchange ECL Transitional (ex. FX) translation Capital Relief Other (net) Q4 2020 Reported Internal capital generation Strong Capital Levels 14.2% 2.0% 1.1% 14.9% 15.5% 14.6% 14.0% 2.2% 2.1% 2.1% 2.1% 1.1% 1.5% 1.5% 1.0% 11.1% 11.4% Q4/19 1 Net Income Available to Equity Holders 10.9% 11.3% 11.8% Q1/20 Q2/20 Q3/20 Q4/20 CET1 Tier 1 Tier 2 16 16#17Digital Banking Strength Surpassed medium-term goal of <10% In-Branch Financial Transactions at All-Bank level. Delivered >50% in Digital Sales in the Pacific Alliance region New Canadian mobile app with simplified layouts, improved discoverability, and enhanced analytics to drive user experience Improving Customer Pulse scores in our digital channels. Peru reached record levels in digital with 70%+ in October Launched new digital account opening solutions across all markets integrating Digital and Physical experiences, greatly reducing processing time Tangerine, Canada's leading digital bank, continues to see momentum as it evolves from being a Savings Bank to an Everyday Bank The Banker INNOVATION IN DIGITAL BANKING AWARDS 2020 Winner North America σ #1 Ranked #1 in Customer Satisfaction with Online Banking by J.D. Power Digital Retail Sales¹ +2,500 bps 36 28 22 15 11 2016 2017 2018 2019 2020 Goal >50% Digital Adoption² In-Branch Financial Transactions³ +2,200 bps -1,800 bps 48 26 23 39 20 33 29 16 26 8 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 Goal >70% Goal <10% 1 Canada: F2017 22%, F2018 26%, F2019 26%, F2020 16% PACS: F2017 13%, F2018 19%, F2019 29%, F2020 51% 2 Canada: F2017 36%, F2018 38%, F2019 42%, F2020 50% PACS: F2017 20%, F2018 26%, F2019 35%, F2020 46% 3 Canada: F2017 17%, F2018 15%, F2019 12%, F2020 7% PACS: F2017 29%, F2018 24%, F2019 19%, F2020 9% 17 15#18Technology Strategy Co $ • Build a strong and scalable platform foundation • Cloud-first strategy for automation and speed • Rebalance core technology spending towards modernization Maintain consistent investment in technology Investments in Technology 11.9% Tech expense 10.1% as % of revenue 7.8% $3,710 $2,430 $1,200 Tech expense (in $millions) 2010 2015 2020 Common systems Software re-use, best practice-sharing • Consistent software design Customer-focused micro-services Analytics on real-time data • Strong cyber-security foundation 18#19Fintech Partnerships QED INVESTORS Georgian Partners Scale UP VENTURES V VIOLA VENTURES TEAM8 Rethinking Cyber 1 Selected proof of concepts with fintech partners • • • • • Focus Areas Proof of Concepts¹ • Credit adjudication Accessibility Natural language processing Personal financial management Customer experience and self-service Machine-learning modelling IT Modernization Fraud Anti-Money Laundering konfio Cerebri≥ Fable Tech Labs Eigen Technologies personetics wysdom H₂O Rapid API BIOCATCH Less Friction. Less Fraud. Tookitaki • 19 19#20Environment, Social & Governance (ESG) Highlights from 2020 Environment Over $28 billion mobilized to reduce the impacts of climate change out of $100 billion target by 20251 Established a dedicated ESG Equity Research Team and launched a Sustainable Finance Group within Global Banking and Markets Published inaugural Green Bond Report outlining the impact and use of proceeds from Scotiabank's US $500 million 3.5 year Green Bond issued in 2019 Implemented a Climate Change Risk Rating tool for all business banking loans as a mandatory part of credit due diligence Established multi-year partnership with the Institute for Sustainable Finance at Queen's University as part of Climate Change Centre of Excellence Social Invested almost $85 million in communities in which we operate, through donations, community sponsorships, employee volunteering, and other types of community investment Contributed over $16 million to support people and communities most at risk during the pandemic, including direct contributions for COVID-19 relief, as well as support of hospitals and healthcare professionals Advanced commitment to UN LGBTI Standards of Conduct for Business as a founding member of the Partnership for Global LGBTI Equality (PGLE) Opened our third Gord Downie & Chanie Wenjack Fund (DWF) Legacy Space, demonstrating our commitment to promoting education and discussion around indigenous reconciliation Governance Ranked in the top 1% of global financial institutions for Corporate Governance by the Dow Jones Sustainability Index Strengthened approach to responsible procurement and supplier diversity by joining Canadian Aboriginal and Minority Supplier Council 46% of Board Directors are women². We first established a Board Diversity Policy in 2013 In collaboration with Smith School of Business at Queen's University, and the IEEE, Scotiabank launched the first Trusted Data & Al for Canadian Business certification in Canada, designed for employees to develop foundational knowledge of ethical principles in business decision making, Al applications and processes Member of REFINITIV Dow Jones TOP 100 COMPANY 2020 Diversity and Inclusion Index Sustainability Indices Powered by the S&P Global CSA 1 Since November 1, 2018; 2 As of October 31, 2020 T APACT United Nations OUNTH Global Compact WOMEN CDP TCFD DRIVING SUSTAINABLE ECONOMIES TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES EQUATOR PRINCIPLES PRI 20#21Business Line Overview Canadian Banking 21 24#22Canadian Banking Top 3 bank in personal & commercial banking in Canada Canadian Banking provides a full suite of financial advice and banking solutions, supported by an excellent customer experience, to over 11 million Retail, Small Business and Commercial Banking customers. Through Tangerine, Canadian Banking also provides digital banking solutions to over 2 million customers. Business Mix Retail 67% Residential Mortgages 63% Financial Results $MM FY/20 FY/FY Revenue Mix 1,2 $2.6B 33% Average Loan Mix¹ $360B 12% 14% Auto Business and 2% 9% Reported Business Banking Government Loans Credit Other Personal Cards Adjusted Net Income³ ($MM) and NIM4 (%) Loans Net Income³ $2,536 (27%) Pre-Tax, Pre Provision Profit $5,488 (4%) Revenue $10,299 (2%) Expenses $4,811 +1% PCLs $2,073 +113% Productivity Ratio 46.7% +110 bps 2.41% 2.36% 2.33% 2.26% 2.26% Net Interest Margin4 2.30% (11 bps) PCL Ratio5 0.59% +30 bps 902 908 782 481 433 PCL Ratio Impaired Loans5 0.32% +3 bps Adjusted³ Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Net Income $2,604 (26%) Medium-Term Financial Objectives NIAT Growth³ Target6 5%+ Pre-Tax, Pre Provision Profit $5,510 Expenses $4,789 PCLS $2,002 (4%) +1% +106% Productivity Ratio Productivity Ratio 46.5% +110 bps Operating Leverage <44% Positive 1 For the three months ended October 31, 2020; 2 Reflects the adoption new leases accounting standards, IFRS16; 3 Adjusted Net income attributed to equity shareholders; 4 Net Interest Margin is on a reported basis; 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#23Canadian Banking: Loan Portfolio High quality retail loan portfolio: ~94% secured 82% Real Estate Secured Lending High Quality Residential Mortgage Portfolio 。 38% insured; remaining 62% uninsured has an LTV of 52%¹ 。 Mortgage business model is "originate to hold" 。 New originations² in 2020 had average LTV of 64.6% 。 Majority is freehold properties; condominiums represent approximately 15% of the portfolio • Market Leader in Auto Loans o $39.1 billion retail auto loan portfolio with 8 OEM relationships (4 exclusive) o Prime Auto and Leases (~92%) o Stable lending tenor with contractual terms for new originations averaging 78 months (6.5 years) with projected effective terms of 54 months (4.5 years) • Prudent Growth in Credit Cards o $6.4 billion 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 4% Unsecured DOMESTIC RETAIL LOAN BOOK³ $325B 1 LTV calculated based on the total outstanding balance secured by the property. Property values indexed using Teranet HPI data 2 New originations defined as newly originated uninsured residential mortgages and have equity lines of credit, which include mortgages for purchases refinances with a request for additional funds and transfer from other financial institutions 3 Spot Balance as of October 31, 2020; Percentages may not add to 100% due to rounding. 2% Credit Cards 12% Automotive 23#24Canadian Banking: Residential Mortgages High quality, diversified portfolio; Credit fundamentals remain strong ⚫ Four Distinct Distribution Channels: All adjudicated under the same standards o 1. Broker (~58%); 2. Branch (~20%); 3. Mobile Salesforce (~21%) and 4. eHOME (~1%) FICO® Distribution - Canadian Uninsured Portfolio 1,2 Q4/19 Q3/20 Q4/20 Average FICO® Score Canada 791 GTA 794 GVA 792 15% 9% 10% 3% < 635 636-706 707-747 748-788 63% Canada Total Originations ($B) Uninsured LTV 13.3 13.0 16.6 65% 64% 64% Greater Toronto Area Total Originations ($B) Uninsured LTV Greater Vancouver Area Total Originations ($B) Uninsured LTV 4.2 3.7 5.0 64% 62% 63% 1.6 1.5 15 1.9 64% 63% 63% > 788 Canadian Mortgage Portfolio³: $245B (Spot balances as at Q4/20, $B) $129.1 $16.6 Freehold $209B (85%) Condos - $36B (15%) 38% Insured $112.5 $46.8 $12.2 Total Portfolio³: $34.6 $31.4 $27.6 $245 billion Ontario BC & Territories Alberta $3.8 $16.9 $14.8 Quebec $2.1 $11.1 $10.9 $0.2 $9.8 $0.7 $9.1 Atlantic Provinces % of portfolio 52.7% 19.1% 12.8% 6.9% 4.5% 4.0% Manitoba & Saskatchewan 62% 1 FICO® distribution for Canadian uninsured portfolio based on score ranges at origination. FICO is a registered trademark of Fair Isaac Corporation 2LTV calculated based on the total outstanding balance secured by the property. Property values indexed using Teranet HPI data 3 Includes Wealth Management Uninsured 24#25Automotive Finance Canada's leader in automotive finance Provide personal and commercial dealer financing solutions, in partnership with seven leading global automotive manufacturers in Canada • Portfolio increased 1.9% year-over-year¹ Personal up 2.7%, Commercial down 3.7% Commercial 14% AVERAGE ASSET MIX 7% Near-Prime Retail $44.4B1 79% 100% Secured Prime Retail Exclusive Relationships MAZDA VOLVO POLESTAR JAGUAR/LAND ROVER Semi-Exclusive Relationships* HYUNDAI CHRYSLER * 1 to 2 other financial institutions comprise Semi-Exclusive relationships GM TESLA Market Share Asset Growth Prime Retail Market Share² Near-Prime Retail Market Share³ Commercial Floorplan Market Share4 36 % 23 % 64 % 77 % 200 27 % 73 % $43.5B $44.4B $42.3B $39.7B $37.1B Till 2016 2017 2018 2019 2020 1 For the twelve months ended October 31, 2020; 2 CBA data as of July 2020, includes RBC, CIBC, Canadian Western Bank, National Bank, TD, Scotiabank, Laurentian Bank; 3 Dealer Track Portal data, includes all Near-Prime Retail providers on Dealer Track Portal, data for October 2020 originations; 4 Includes BMO, CIBC, RBC, Scotiabank, TD, HSBC, Canadian Western Bank, Laurentian Bank, data as of June 2020 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% $MM² FY/20 FY/FY Asia 1% Revenue Mix¹, $2.5B 78% Latin America Credit Cards Reported 6% Loan Mix¹ $146B Net Income³ $980 (64%) 21% 14% Pre-Tax, Pre Provision Profit $4,867 (17%) C&CA Personal Loans 25% Residential Mortgages Revenue $10,810 (10%) Expenses $5,943 (4%) PCLS $3,613 87% Adjusted Net Income 3,6 ($MM) and NIM* (%) Productivity Ratio 55.0% 310 bps 4.51% 4.51% 4.28% 3.99% 3.97% Net Interest Margin4 4.18% (36 bps) 725 PCL Ratio5 2.45% 105 bps 615 158 59 197 238 PCL Ratio Impaired Loans5 1.49% 19 bps 567 556 53 197 1 238 Adjusted5 52 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Net Income³ $1,148 (61%) Ex. Divested Ops Medium-Term Financial Objectives NIAT Growth6 Divested Ops Net Income - Ex Divested Ops.³ Pre-Tax, Pre Provision Profit $1,088 (51%) $5,068 (16%) Target? 9%+ Expenses Productivity Ratio $5,742 (5%) 53.1% 290 bps Productivity Ratio Operating Leverage <50% Positive 1 For the 3 months ended October 31, 2020; 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 Attributable to equity holders of the Bank; 4 Net 27 Interest Margin is on a reported basis; 5 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures; 6 Excluding divestiture impact; 73-5 year target from 2020 Investor Day#28PAC Fundamentals Driving Growth Strong Governance Democratic countries with open economies Independent central banks with inflation targets Free trade agreements and free-floating currencies ⚫ Business-friendly environments Sound Macro Environment • Diversified economies with strong GDP growth Resilience to economic and political cycles Investment Grade- rated Low Debt/GDP ratios with lower fiscal deficits compared to G7 • Increasing adoption of banking services Favourable Demographics • 229 million people with median age of 30 years Strong domestic consumption • Much lower banking penetration compared to Canada Among the fastest growing smartphone markets in the world • Considerable growth in middle class 28#29Scotiabank in Mexico Business Overview Market Position by Loans4 14.6% 13.4% 11.7% 7.7% 7.2% 4.2% 3.5% 2.0% Customers ~3.8MM Corporate/ 23.2% Commercial Employees ~10,700 60% Branches1 531 Loans $30.9B Average Loans $31B 28% Average $28B Deposits 2% 5% 6% Residential Mortg. Total NIAT 2,5 $345MM Credit Cards Auto Personal Loans ROE³ 10.2% Retail 83% 17% BBVA B BANORTE Loans Productivity³ 54.4% Secured Unsecured PTPP 924 738 2017 2018 +14% CAGR citibanamex 8 banregio BBVA Banorte Santander Banamex Scotiabank HSBC Inbursa Bajio Regio Productivity Ratio 58.6% 978 1,087 2019 2020 Constant currency All figures in CAD$ including Wealth Management 1 Includes bank and wealth branches; does not include 177 Credito Familiar branches 2,3 WY'2020 Adjusted as Reported 4 Source: CNBV as of September 2020 5 Adjusted after NCI 55.4% 55.0% 54.4% Operating Leverage 7.5% 6.9% 1.9% -0.9% 2017 2018 2019 2020 2017 2018 2019 2020 29 29#30Scotiabank in Peru Business Overview Market Position by Loans4 Customers¹ ~4.5MM Corporate/ Commercial 33.1% Employees¹ ~11,100 57% Branches1 311 12% Residential Mortg. Loans $22.4B Average Loans $22B 20.5% 16.5% 12.3% 19% Average 0% $19B 2% 9% Deposits Auto Personal Loans Other Credit Total NIAT 2,5 $391MM Cards ROE³ 11.4% Retail 36% 64% BCP BCP BBVA BBVA Scotia Interbank Loans Productivity³ 35.1% Secured Unsecured PTPP Productivity Ratio Operating Leverage +9% CAGR 39.3% 1,508 1,498 1,279 1,157 2017 2018 2019 2020 Constant currency All figures in CAD$ including Wealth Management 1 Including subsidiaries 2,3 WY'2020 Adjusted as Reported 4 Market share as of September 2020. Scotiabank includes SBP, CSF and Caja CAT 5 Adjusted after NCI 37.5% 35.1% 1.8% 35.2% 6.8% 5.0% 0.3% 2017 2018 2019 2020 2017 2018 2019 2020 30#31Scotiabank in Chile Business Overview Market Position by Loans4 Customers¹ ~2.8MM Corporate/ Commercial 47% Employees ~8,000 Branches1 144 Loans $45.9B Average Loans $46B 18.6% 16.7% 14.1% 14.0% 13.8% 9.7% 0% 36% Auto 5% Residential Mortg. Average $24B Deposits Credit Cards 12% Total NIAT 2,5 $459MM Personal Loans ROE³ 6.1% Retail 79% 21% R Loans X Itaú Productivity³ 43.3% Secured Unsecured Santander Chile Estado BCI Scotiabank Itaú PTPP Productivity Ratio Operating Leverage 789 535 2017 2018 +30% CAGR 49.5% 1,202 1,185 Constant currency All figures in CAD$ including Wealth Management 1 Includes affiliates & consumer microfinance 2,3 WY'2020 Adjusted as Reported 4 Market share as of September 2020, Source: CMF 5 Adjusted before NCI 2019 2020 13.3% 8.5% 44.7% 43.3% 43.4% 4.3% 0.0% 2017 2018 2019 2020 2017 2018 2019 2020 31#32Scotiabank in Colombia Business Overview Market Position by Loans4 Customers¹ ~2.8MM Corporate/ Commercial 25.9% 44% Employees ~6,800 Residential 18% Mortg. Branches¹ 152 Loans $11.5B Average Loans $11B 1% Auto Average 20% $10B 17% Deposits Personal Loans 17.0% 12.2% 10.3% 6.3% 5.5% 4.3% Credit Cards Total NIAT 2,6 -$35MM BBVA ROE³ -2.8% Retail 34% 1 66% Loans Bancolombia Davivienda Bogotá 5 BBVA Productivity³ 59.8% Secured Unsecured Occidente Scotiabank Popular5 Colpatria PTPP Productivity Ratio Operating Leverage +3% CAGR 664 460 519 507 54.5% 53.4% 52.6% 2017 Constant currency 2018 All figures in CAD$ including Wealth Management 2019 2020 59.8% -1.8% -2.4% -6.4% -7.6% 2017 2018 2019 2020 2017 2018 2019 2020 1 As of October 2020 2,3 WY'2020 Adjusted as Reported 4 Market share as of August 2020 5 Members of AVAL Group: Banco de Bogotá, Banco de Occidente, Banco Popular and Banco AV Villas. AVAL is 2nd in market share in terms of Loans (25%) and 1st in Deposits (27%) 6 Adjusted after NCI 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 Thailand: 5% interest in TMB Bank • Reduced investment in Thailand in Q1/20 China: ~18% interest in Bank of Xi'an • CAD $926MM carrying value as of September 30, 2020 CAD $511MM of net income for twelve months ended October 31, 2020 33#34Business Global Wealth Line Overview Management 34 =4#35Global Wealth Management Global Wealth Management is focused on delivering comprehensive wealth management advice and solutions to clients across Scotiabank's footprint. Business Overview¹ Financial Results 12% Revenue 13% AUM $1.2B 88% $292B 87% 21% AUA $502B $MM, except AUM/AUA Reported FY/20 FY/FY 79% Net Income³ $1,262 +7% Pre-Tax, Pre Provision Profit $1,706 +7% International Canada Revenue $4,584 +2% Expenses $2,878 (1%) Adjusted Net income ²,³ ($MM) and ROE² (%) 2,3 PCLS $7 N/A 13.6% 13.7% 13.8% 14.3% 14.3% Productivity Ratio 62.8% (170bps) 332 333 314 318 314 Adjusted² 332 333 312 318 314 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Net Income $1,297 Pre-Tax, Pre Provision Profit +7% $1,766 +6% Ex. Divested Ops ■Divested Ops Medium-Term Financial Objectives Earnings Growth Target4 8%+ Expenses Productivity Ratio $2,818 (1%) 61.5% (160bps) Productivity Ratio Operating Leverage <65% Positive 1 Figures as of October 31, 2020 or for the 3 months ended October 31, 2020; 2 Adjusted for Acquisition-related costs and impact of additional pessimistic scenario; 3 Attributable to equity holders of the Bank 43-5 year target from 2020 Investor Day 35#36Global Wealth Management Strong investment performance, increasing scale Award-Winning Investment Management • • • Dynamic Funds MD MD Financial JARISLOWSKY FRASER Invest with advice. Management . GLOBAL INVESTMENT MANAGEMENT #2 in Retail Mutual Fund Net Sales Won 20 Lipper Fund Awards - more than any other firm in 2020 (1832 Asset Management) Named Fund Provider of the Year by Wealth Professional (Dynamic Funds) Top 3 Greenwich Leader in Canadian Institutional Investment Management Service (Jarislowsky Fraser) Straight A's in the 2020 Principles for Responsible Investment report (Jarislowsky Fraser) Investment Performance Highlights 76% of assets in the top two quartiles over five- year period - 1832 ASSET MANAGEMENT . • • Award-Winning Advisory #2 in 2020 Best Online Brokers (MoneySense Magazine) #2 bank-owned brokerage firm in the 2020 Investment Executive Brokerage Report Card Largest PIC business in Canada #1 in Y/Y estate, trust and foundation revenue growth (Investor Economics) 2021 World's Best Private Banks awards in Peru and Bahamas (Global Finance) AUM +11% CAGR AUA +6% CAGR 292 502 404 75% of core funds in the top two quartiles over five- year period JARISLOWSKY FRASER 193 GLOBAL INVESTMENT MANAGEMENT 2016 2020 2016 2020 36#37Business Line Global Banking Overview and Markets 37 37#38Global 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 Financial Results Canada 5% Europe Global Business Banking 50% $MM FY/20 FY/FY 6% 53% Equities 16% Geographic Revenue¹ $1.2B Revenue By Business Line¹ $1.2B Reported Net Income² $1,955 +27% Pre-Tax, Pre Provision Profit $2,909 +44% 36% Revenue $5,382 +20% US 34% FICC Expenses $2,473 PCLS $390 N/A Adjusted Net Income ²,³ ($MM) and ROE³ (%) 2,3 Productivity Ratio 45.9% (910 bps) PCL Ratio4 0.35% 15.4% 13.8% 14.0% 17.5% 14.6% +37 bps PCL Ratio Impaired Loans4 0.12% +12 bps Adjusted³ 600 451 523 Net Income² $2,034 +33% 460 405 Pre-Tax, Pre Provision Profit $3,011 +49% Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Medium-Term Financial Objectives Productivity Ratio Revenue PCLS $384 45.1% $5,484 +22% N/A (990 bps) NIAT Growth Productivity Ratio Operating Leverage Target5 ~5% ~50% Positive 1 TEB Revenue for the 3 months ended October 31, 2020; 2 Attributable to equity holders of the Bank; 3 Adjusted for impact of additional pessimistic scenario; 4 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures; 53-5 year target from 2020 Investor Day 38#39GBM in US and Latam Delivering the full bank to meet our Americas clients' needs Revenue Wholesale bank in the US: Corporate & Investment US1 Latam¹ Banking, Capital Markets, $2,141 million $1,554 million Cash Management and Trade Finance Top 15 foreign bank $47 billion Average Loans $47 billion organization (FBO) in the US • Client list focused on S&P $77 billion Average Deposits $21 billion 500, investment grade corporates $896 million Total NIAT $635 million Current sectors of strength include: Power & Utilities and Energy. Focus areas for growth include Consumer /Industrial/Retail (CIR), Technology, and Healthcare epm AES en Panamá US$1,380,000,000 4.375% Senior Secured Notes due 2030 US$105,000,000 Term Loan Facility US$50,000,000 Liquidity Facility Global Coordinator, Joint Bookrunner Joint Arranger, and Administrative Agent 1Figures for fiscal 2020 US$575,000,000 4.375% Notes due 2031 COP 635,519,500,000 8.375% Notes due 2027 Joint Bookrunner and Billing & Delivery Bank 42.4% Productivity 5 Offices CALDAS GOLD has sold a precious metals stream on its Marmato Project to WWHEATON™ PRECIOUS METALS US$110,000,000 Financial Advisor isa 30.2% Acquisition of 746km transmission lines in Peru (Eteselva and Etenorte) from Orazul ENERGY US$158,500,000 Sole Financial Advisor, Sole Arranger and Sole Bookrunner • 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 PetroRio Acquisition of the Wahoo and Itaipu Assets in offshore Brazil from Chevron Divestiture of 43% Operated Interest in the Guajira Fields USD 140,000,000 Exclusive Financial Advisor hocol Undisclosed Exclusive Financial Advisor 39#40Risk Overview 40 40#41Risk Snapshot RWA Breakdown¹ Credit Exposure by Country 2,3 ■ Canada ■ Chile ■ Credit Risk 66% ■ U.S. 2% 2% 4% 11% $417B 87% ■ Operational Risk $611B1 4% ■ Other International ■Mexico 5% ■ C&CA ■Market Risk 5% 7% 7% ■ Peru ■ Colombia Credit Exposure by Sector 1,2 Real Estate and Construction 6.0% Financial Services Wholesale and Retail 4.8% 4.2% Other 2.8% Technology and Media 2.7% Energy 2.6% Agriculture 2.3% Utilities 2.0% Automotive 2.0% Transportation 1.6% Food and Beverage 1.4% Health Care 1.0% Mining 1.0% Sovereign 0.8% Hospitality and Leisure 0.8% ■ Unsecured Forest Products 0.4% Personal & Commercial Lending Canadian Banking 1,2 International Banking1,2 ■ Secured 69% ■ Secured 6% $325B $67B 94% ■ Unsecured 31% 1 As at October 31, 2020 2% of total loans and acceptances 3 As at October 31, 2020 Metals 0.4% Chemicals 0.3% 41#42Well Provisioned TOTAL ACLs ($MM) 7,820 7,403 -182 181 6,079 -74 1,776 1,957 +53% 5,145 5,095 -68 1,643 1,595 74 1,533 • 5,445 5,682 • 4,362 3,482 3,488 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Performing Loan ACLs Impaired Loan ACLS Other TOTAL PCLs ($MM)1,2,3 AND PCL RATIO² 119 bps 136 bps 2,181 1,846 149 -2 73 bps 50 bps 51 bps 2 155 752 1,131 670 3 753 771 4 -18 330 62 247 250 1,278 1,019 736 502 503 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 International Banking HIGHLIGHTS $7.8 billion in total ACLs, up $2.7 billion or 53% since Q1/20 Performing loan ACLs increased 63% since Q1/20, or $2.2 billion Total ACLS represents ~3 years worth of net write-off-coverage Estimated to cover 2021 pandemic-driven elevated write-offs · HIGHLIGHTS Total PCL ratio² of 73 bps increased 23 bps Y/Y; decreased 63 bps Q/Q The sequential improvement was driven by lower PCL on performing loans due to improving macroeconomic outlook and stabilizing credit quality Canadian Banking Global Banking and Markets Other³ 1 Includes provision for credit losses on debt securities and deposit with banks of $nil in Canadian Banking, -$1 million in International Banking (Q4/19: -$3 million, Q1/20: -$1 million, Q2/20: $1 million), -$1 million in Global Banking and Markets (Q4/19: -$1 million, Q3/20: $1 million), $nil in Global Wealth Management (Q3/20: -$1 million) and $2 million in Other (Q4/19: $1 million, Q1/20: $1 million, Q2/20: -$2 million) 2 Refer to Non-GAAP Measures on slide 40 for adjusted results 3 Other includes provisions for credit losses in Global Wealth Management of $3 million (Q3/19: -$1 million, Q1/20: $1 million, Q2/20: $2 million, Q3/20: $1 million) 42#431.75% 1.50% 1.25% 1.00% 0.75% 0.50% 0.25% 0.25% 0.00% 2007 2008 2009 0.44% 2010 0.00% 0.50% 0.40% 0.30% 0.19% 0.20% 0.10% 2007 2008 2009 0.90% 1.00% 0.75% Average (2007-2020) 1 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures 2011 2012 2012 2013 2013 2010 0.70% 0.60% 0.50% 0.40% 0.30% 0.20% 0.10% 0.00% 0.12% 0.24% 2007 2011 2008 2012 2009 2013 2010 2011 211 0.59% Historical PCL Ratios on Impaired Loans 2012 2013 2013 CANADIAN BANKING¹ ALL BANK 1 0.56% 0.50% 0.47% 0.49% 0.45% 0.32% 0.40% 0.42% 0.43% 0.34% 0.36% 2014 2015 0.23% 0.37% 0.35% 0.28% 0.23% 0.18% 0.23% 0.23% 0.28% 0.29% 0.24% 0.29% 0.32% Avg: 27 bps INTERNATIONAL BANKING 2014 2015 1.27% 1.24% 1.26% 1.21% 0.86% 0.75% 2014 2015 2016 2017 2018 2019 2020 1.29% 1.30% 1.49% H Avg: 100 bps 43 2018 2018 2019 2020 Avg: 41 bps#44Canadian Retail: Loans and Provisions' 1 1 MORTGAGES AUTO LOANS 216 224 85 96 4 4 2 2 1 84 94 99 105 106 81 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 LINES OF CREDIT² 164 169 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 CREDIT CARDS 1,002 896 72 80 381 385 79 400 70 73 87 74 65 59 379 377 445 401 312 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 PCL as a % of avg. net loans (bps) Loan Balances Q4/20 Spot ($B) % Secured Mortgages $245 100% 1 Includes Wealth Management. PCL excludes impact of additional pessimistic scenario 2 Includes Home Equity Lines of Credit and Unsecured Lines of Credit 3 Includes Tangerine balances of $6 billion and other smaller portfolios 4 82% secured by real estate; 12% secured by automotive Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 PCLs on Impaired Loans as a % of avg. net loans (bps) Auto Loans Lines of Credit² Credit Cards Total $39 100% $33 $6 $3253 64% 3% 94%4 44#45International Retail: Loans and Provisions Markets with Greater MEXICO 1.8x 228 4011 550 591 CHILE Caribbean & CA 1.4x 1.7x 157 2161 2212,3 3671,3 Weighting to Secured 556 457 280 233 231 208 246 228 279 321 191 155 159 155 187 221 160 181 170 157 178 250 267 141 199 218 203 251 253 238 163 150 120 148 154 175 190 87 156 138 170 165 138 231 221 195 Q1 Q2 Q3 Q4 2019 Q11 Q2 Q3 Q4 2020 70 Q1 Q2 Q3 2019 Q4 Q11 Q2 Q3 Q4 Q1 Q22 Q3 Q4 Q1 Q2 2020 2019 Q3 2020 60 Q4 PERU COLOMBIA 2.4x 2.1x 4222 1,0021 435 9101 Markets with 1,552 1,322 Greater Weighting to 1,290 Unsecured 970 764 939 738 517 545 554 549 531 402 473 471 395 471 439 361 491 470 579 542 143 364 372 424 485 455 377 420 406 Q1 2019 Q2 Q3 Q4 Q11 Q2 Q3 Q4 2020 Q1 Q2 Q3 Q4 Q11 Q2 Q3 Q4 2019 2020 PCL as a % of avg. net loans (bps) PCLs on Impaired Loans as a % of avg. net loans (bps) Loan Balances Q4/20 Mexico Peru Chile Colombia Caribbean & CA Total4 Secured ($B) $11 $3 $20 $2 $10 $46 Unsecured ($B) $2 $6 $5 $4 $3 $21 Spot Total ($B) $13 $9 $25 $6 $13 $67 1 PCL excludes impact of additional pessimistic scenario 2 Adjusted for acquisition-related costs, including Day 1 PCL impact on acquired performing loans 3 Excludes impact of divested operations 4 Total includes other smaller portfolios 45 45#46Sectors Most Impacted by COVID-19¹ Most Impacted Sectors as a % of Total Loans Trending Lower Canada Real Estate: Office and Retail C&CA $B %IG 4.70% 11% 4.10% Mexico 56% Office REIT $1.0 69% 4.00% 3% $8.6B Office Real Estate $3.3 48% 9% U.S. (1.4% of total loans) Retail REIT $1.3 97% Q2/20 Q3/20 Q4/20 7% Other Retail Real Estate $2.9 52% 1% 13% Europe Total² $8.5 58% Latin America Canada Other 25% Hospitality & Leisure 9% Total Loans $625.1B Energy E&P and Oilfield Services: 1.4% Real Estate Office = and Retail: 1.4% Transportation - Air 36% Travel: 0.5% U.S. Hospitality & Leisure: 0.8% $B %IG C&CA Hotels $4.0 24% $5.1B 17% (0.8% of total loans) Cruise Lines $0.3 0% 4% Latin America Gaming $0.8 1% 9% Total² $5.1 20% Mexico Transportation: Mexico Canada Latin America 12% 7% Air Travel 4% $B %IG C&CA 7% Total COVID-19 High Impact: 4.0% $3.0B Aircraft Finance $1.4 99% Other (0.5% of total loans) Airlines $0.3 4% 16% 54% Airports $1.3 75% Europe Total $3.0 81% 46 1 Sectors which have experienced the greatest disruption in normal business activities and impact to revenue due to the COVID-19 pandemic (including, but not limited to, government-mandated closures) relative to other sectors 2 May not add due to rounding#47Energy - E&P and OFS Exposure¹ Total Exploration & Production (E&P) Canadian E&P U.S. E&P Oilfield Services (OFS) Total E&P and Oilfield Services Exposure Loans and Acceptances Outstanding ($B) % of Total E&P and OFS % of Total Loans and Acceptances % Investment Grade Outstanding 7.2 85% 1.2% 52% 3.3 39% 0.5% 62% 0.9 10% 0.1% 14% 1.3 15% 0.2% 6% 8.5 100% 1.4% 45% Total Loans and Acceptances Outstanding reduced by $1.3Bn (13%) vs. Q3 · 45% is rated investment grade. 51% of Total Energy (including Midstream and Downstream) exposure is investment grade. • • Outlook has improved due to the recent increase in oil prices. Exploration & Production Canada (49%) 4.3 C&CA (0%) Majority of non-investment grade exposure is to secured reserve- based loans or sovereign owned/controlled entities. 0.2 Europe E&P and OFS 0.4 (62%) Exposure by • Oilfield Services Geography · Majority of non-investment grade exposure is secured. Focused on companies with stronger liquidity and balance sheets. $8.5B 0.6 • ACL coverage in E&P and OFS beyond Stage 3 Asia (94%) (%IG) 2.0 Latin America (40%) Maintained substantial Stage 1&2 ECL built in Q2 and Q3 through expert credit judgement. 1.0 U.S. (12%) 1 As of October 31, 2020. Excludes Midstream and Downstream 47#48Treasury and Funding 48#49COVID-19 Response Maintained elevated liquidity and access to funding markets ⚫ Continued elevated levels of liquidity, well in excess of regulatory requirements o LCR of 138%, -3% Q/Q and +13% Y/Y o Pacific Alliance countries ended Q4 with LCRs of 140-200% o HQLA of $210B, -$18B Q/Q and +$45B Y/Y, is substantially comprised of Level 1 assets • Reduction in wholesale funding to absorb excess system liquidity . o Deposit growth moderated requirement for wholesale funding 。 $21B of short term funding maturities allowed to roll off Funding metrics continue to benefit from reduced wholesale funding usage 。 WSF below $200B, down $21.6B Q/Q and $91B since March o WSF/TA improved Q/Q from 18.9% to 17.6% • Q4 term issuance activity augmented TLAC o Issued $4.3B of term senior funding versus term maturities of $3.2B 。 TLAC ratio at 23%, above minimum requirement of 22.5% 49 49#50Funding Strategy Diversified funding sources • Increase contribution from customer deposits Continue to reduce wholesale funding utilization while building TLAC 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 Funding Programs¹ US Debt & Equity Shelf (senior/subordinated debt, preferred and common shares) Limit USD 40 billion Global Registered Covered Bond Program (uninsured Canadian mortgages) Limit CAD 100 billion EMTN Shelf Limit USD 20 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 7.5 billion Halifax ABS shelf (unsecured lines of credit) Limit - CAD 7 billion Principal at Risk (PAR) Note shelf Limit CAD 6 billion Trillium ABS shelf (credit cards) Limit - CAD 5 billion USD Bank CP Program Limit USD 35 billion 50 50#51Wholesale Funding Wholesale funding diversity by instrument and maturity1,6,7 16% 26%- Senior Notes Bail-inable Notes 2% Asset-Backed Securities 15% Asset-Backed Commercial Paper³ 2% 19% Bearer Deposit Notes, Commercial Paper & Short-Term Certificate of Deposits $200B 1%- Deposits from Banks² TERM FUNDING MATURITY TABLE (EXCLUDING SUB DEBT AND MORTGAGE SECURITIZATION) (CANADIAN DOLLAR EQUIVALENT, $B) $28 9 Covered Bonds $20 2 4 14% Mortgage Securitization4 17 15 $29 8 $24 4 20 20 $10 $9 2 3 20 20 -5% Subordinated Debt5 8 6 < 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, as of Q4/20. 7 May not add to 100% due to rounding. 51#52Q4/17 Q1/18 Q2/18 Q3/18 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 BUSINESS & GOVERNMENT DEPOSITS1 (SPOT, CANADIAN DOLLAR EQUIVALENT, $B) Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 $274 $263 $211 $223 $270 $197 $174 $168 $221 $227 $197 $170 $179 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Deposit Overview Strong growth in personal & business and government deposits PERSONAL DEPOSITS (SPOT, CANADIAN DOLLAR EQUIVALENT, $B) • $200 $204 $215 $225 $225 $235 $246 $244 $222 $223 $224 $201 $211 3Y CAGR-7.2% • PERSONAL DEPOSITS All Q/Q growth from Canada Continued impact of system liquidity from central banks and government relief programs Important for both relationship purposes and regulatory value 1 Calculated as business & government deposits less wholesale funding as per Wholesale Funding Sources table in the MD&A, adjusted for Sub Debt 3Y CAGR 16.3% Q3/20 Q4/20 • BUSINESS & GOVERNMENT Continuing to leverage relationships to grow deposits Focusing on operational, regulatory friendly deposits 52 52#53Q4/17 Q1/18 Q2/18 36.8% Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Wholesale Funding Utilization Declining reliance on wholesale funding, particularly short-term WHOLESALE FUNDING / TOTAL ASSETS 23.8% 23.4% 22.9% 17.6% CONTINUED REDUCTION IN WHOLESALE FUNDING Driven by central bank liquidity facilities, deposit growth and decline in asset growth Ceased participation in central bank liquidity facilities o Opportunistically took advantage of stable funding markets Q2/19 Q3/19 MONEY MARKET WHOLESALE FUNDING / TOTAL WHOLESALE FUNDING 36.0% Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 21.8% 42.2% Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 CONTINUED ABSORBTION IN MONEY MARKET FUNDING Absorbing central bank liquidity by reducing short term funding balances o Primarily driven by lower certificate of deposits 53#54Liquidity Metrics Well funded Bank with very strong liquidity • Liquidity Coverage Ratio (LCR) 。 Maintained elevated levels of liquidity, well in excess of regulatory requirements 。 Supported by central bank liquidity related to pandemic response o LCR of 140-200% in Pacific Alliance countries 141% 138% 132% 128% 124% 125% 123% 125% 127% Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 • High Quality Liquid Assets (HQLA) 。 Substantially comprised of Level 1 assets 。 Strong annual growth but moderated Q/Q: -$18B Q/Q(¹) and +$45B Y/Y $227 $210 $188 $158 $158 $160 $165 $168 $144 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 1 May not add due to rounding. 54 54#55Appendix 1 Core Markets: Economic Profiles#56COVID-19: Government Responses Policy Action Canada United States Mexico Peru Chile Colombia Policy Rate Cuts 150 bps 150 bps 275 bps 200 bps 125 bps 250 bps (Since March 1, 2020) Fiscal & Financial Measures (% of GDP) Liquidity program 17.5% 13.5% 0.7% 20.0%¹ 17.5%¹ 2.8% Wage and payroll support programs Key Measures Payment deferral programs Small business and sectoral programs Loan guarantees Household income supplementary funds Retirement savings withdrawals Tax holidays Source: Scotiabank Economics. As of November 14, 2020. 1 Includes pension withdrawals and deposit relief 56#57Latam: Economic Activity Update Observing improvement in economic activity Latam: Monthly Economic Activity Index Tracker 20 20 10 0 y/y % change -20 ⚫Chile Colombia -Mexico Peru -30 -10 -40 -50 18 Sources: Scotiabank Economics, Haver Analytics. 19 20 20 57 57#58% OF GDP Canadian Economy Diverse sources of growth with a strong balance sheet 20.9% Finance, Insurance, & Real Estate 15.1% Other 3.7% Transportation & Warehousing 6.1% Professional, Scientific, & Technical Services 7.1% CANADIAN GDP BY INDUSTRY (Aug 2020) Public Administration GDP Forecast 2020: -5.7% General Government Net Debt in 2020 12.4% Real GDP Growth Health & Education 7.5% 10.9% Wholesale & Retail Trade - 10.0% Manufacturing 6.4% Mining and Oil & Gas Extraction Construction GDP Forecast 2021: +4.1% 3 N ANNUAL % CHANGE C U.S. Canada Eurozone U.K. Japan 2010-2018 2019-2021f Sources: Scotiabank Economics, Haver Analytics, Statistics Canada. Forecasts as of Oct 14, 2020. Government Financial Deficits in 2020 0 -5 (8.2) (10.8) -10 (13.0) 177.1 (14.2) (14.4) 148.8 -15 (16.5) (18.7) (18.7) 106.8 110.0 96.1 98.1 -20 49.0 54.1 % OF GDP -25 GE FR IT JN Canada Germany OECD U.K. U.S. France Italy Japan Adv. Econ. CA* UK US * Canadian government net debt obtained from Scotiabank Economics' Federal Economic and Fiscal Snapshot (July 8, 2020). * Canadian federal deficit reflects Scotiabank Economics' forecast as of Oct. 14, 2020. Sources: Scotiabank Economics, IMF Fiscal Monitor (October 2020 estimates), CBO. 58 Sources: Scotiabank Economics, IMF Fiscal Monitor (October 2020).#59Mexican Economy Diverse economy • The Mexican economy reflects a solid mix of commodities, goods production, and services Trade remains dominated by the U.S., but Mexico's diversification agenda is underpinned by 13 free-trade agreements with 47 countries that account for 40% of global GDP and include all G7 countries GDP Forecast 2020: -9.1% GDP Forecast 2021: +3.8% 19.2% Finance, Insurance, & Real Estate 15.7% Other 3.9% Natural Resources 4.9% Transportation & Warehousing 7.0% Health & Education MEXICAN GDP BY INDUSTRY* (Q2 2020) 2.1% Professional, Scientific, & Technical Services 4.7% Public Administration 16.1% Wholesale & Retail Trade 13.9% Manufacturing 7.1% Mining and Oil & Gas Extraction 5.4% Construction * Q3-2020 real GDP growth -8.6% y/y. Industry GDP breakdown not yet available for Q3-2020. Top 5 Trading Partners* -10 -12 -14 -16 -18 -2 -4 -6 6420246027002 Contributions to Mexican GDP Growth y/y % change -8 Other* Investment Net Exports Government Inventories Consumption Real GDP 17 18 19 20 *Statistical discrepancy, subject to revision. Sources: Scotiabank Economics, Haver Analytics. Germany 3% South Korea 3%| Canada 3% China 13% Others 23% United States * Trade data updated as of Q2-2020 55% 59 59#60Peruvian Economy Resilient economic fundamentals Peru's important resource sectors are increasingly balanced by stronger service-sector activity and solid economic fundamentals Peru has 16 free-trade agreements with 49 countries that account for 66% of global GDP Investment is making a consistently strong contribution to GDP, which should make solid growth rates more sustainable in the future 12.3% Manufacturing 11.4% Wholesale and Retail Trade PERUVIAN GDP BY INDUSTRY (Q3 2020) GDP Forecast 2020: -11.5% GDP Forecast 2021: +10.0% Contributions to Peruvian GDP Growth 10 y/y % change 0 -5 -10 -15 -20 -25 -30 -35 -40 17 18 Net Exports Investment Consumption Sources: Scotiabank Economics, Haver Analytics. 19 Inventories Government Real GDP 20 20 49.7%- Other 13.0% Mining, Oil, & Gas 6.0% Construction 2.0% Electricity & Water 5.7% Top 5 Trading Partners* China Others 47% 25% Natural Resources United States 16% Canada 4% Japan South Korea 4% 4% * Trade data updated as of Q2-2020 60 60#61Chilean Economy Advanced economy with wide-ranging trade links • • Chile's mix of economic activities reflects its status as an advanced market economy Chile's diversified trading relationships are supported by 23 free-trade agreements with 60 countries that account for 73% of global GDP Investment has been a strong contributor to growth in Chile, which should underpin future productivity gains as the economy rebounds from recent social difficulties GDP Forecast 2020: -5.2% 16.1% Finance, Insurance, & Real Estate 8.5% Other 1.2% Restaurants & Hotels 7.7% Transportation & Warehousing GDP Forecast 2021: +5.6% Contributions to Chilean GDP Growth 10 y/y % change 5 3.5% Natural Resources CHILEAN GDP BY INDUSTRY (Q3 2020) 17.8% Housing & Personal Services 10.1% Wholesale & Retail Trade 10.9% Manufacturing 14.0% Mining and Oil & Gas Extraction 5.0% Construction 5.2% Public Administration Top 5 Trading Partners* 0 -5 -10 Net Exports -15 -20 Investment Consumption Inventories Government Real GDP -25 17 18 Sources: Scotiabank Economics, Haver Analytics. 19 20 20 China Others 36% 34% South Korea 3% United States Brazil 5% Japan 7% 15% 61 * Trade data updated as of Q2-2020#62Colombian Economy Strong underlying momentum Services account for a rising share of Colombian GDP compared with traditional strengths in extractive industries Colombia continues to build on its 11 free-trade agreements with 46 countries that account for 41% of global GDP Rising consumption, supported by public spending, reflects an expanding middle class as growth gains momentum and converges toward the economy's underlying potential GDP Forecast 2020: -7.5% GDP Forecast 2021: +5.0% 15.3% Finance, Insurance, & Real Estate 9.0% Other 7.0% Natural Resources 3.0% Information & Communication 1.9% Arts & Entertainment COLOMBIAN GDP BY INDUSTRY (Q2 2020) 7.2% Professional, Scientific, & Technical Services 15.2% Wholesale, Retail Trade, Accommodation & Food Services 16.4% 12.2% Manufacturing 7.6% Mining and Oil & Gas Extraction 5.2% Construction Public Administration Contributions to Colombian GDP Growth 8 y/y % change 3 -2 -7 Other* -12 Government Net Exports Consumption Investment Real GDP -17 -22 17 18 *Statistical discrepancy, subject to revision. Sources: Scotiabank Economics, Haver Analytics. 19 20 20 Top 5 Trading Partners* United States Others 42% 27% China Germany 3% 17% Brazil Mexico 5% 5% * Trade data updated as of Q2-2020 62 62#63Appendix 2 Canadian Economic Fundamentals#64Canada: Consumer and Business Observing signs of economic recovery Business Confidence - CFIB Business Barometer Key Economic Indicators 140 index, Feb 2020 levels 100 75 index, 50 stronger 120 70 65 Avg. 2011- present 100 60 80 5544 232 3-month moving 60 6-month moving 50 average average 40 20 40 35 Feb Headline index 30 25 ܂ 11 12 13 14 15 16 17 18 19 20 20 Sources: Scotiabank Economics, CFIB. Mar Apr May Jun Jul Aug Sep Oct Auto Sales Housing Starts Employment Mfg Shipments Retail Sales Manufacturing PMI Exports Sources: Scotiabank Economics, Bloomberg. Canada Auto Sales Canada Real Retail Sales 105 Feb 2020-100 100 95 90 mn, saar units 2.0 1.8 1.6 1.4 1.2 1.0 0.8 0.6 GOGO 885 85 80 75 70 65 0.4 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 60 Sources: Scotiabank Economics, DesRosiers Automotive Consultants Inc. Apr-19 Jul-19 Oct-19 Jan-19 Sources: Scotiabank Economics, Statistics Canada. Jan-20 Apr-20 Jul-20 64#65Canada: Housing Market Strength Strong demand continues to confront insufficient supply G7 Population Growth Housing Market is Historically Undersupplied Ratio of total home completions on 18- month rolling basis relative to population change 0.90 1.8 annual % change Canada United States Euro Area 1.6 Japan United Kingdom Italy 0.80 1.4 France 1.2 0.70 1.0 0.8 0.60 0.6 0.4 0.50 0.2 0.40 0.0 -0.2 0.30 -0.4 08 09 10 11 12 13 14 15 16 17 18 19 20 Sources: Scotiabank Economics. Listings Falling More Rapidly than Sales 90 sa sales-to-new-listing ratio, % 80 70 60 50 40 1984-present avg. W 99 02 05 08 11 14 17 20 87 90 93 96 84 Sources: Scotiabank Economics, Statistics Canada. Government Assistance Supporting Households 2.5 % 2.0 1.5 Seller's Market Buyer's Market 1.0 0.5 Hypothetical arrears rate on mortgages simulated by BoC for 19% fall in GDP in 2020 Arrears without existing household support measures Arrears with existing support measures 21 22 Sources: Scotiabank Economics, Bank of Canada Financial System Review. 0.0 30 20 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 Sources: Scotiabank Economics, CREA. 65 55#66Growth in Household Credit Total household credit, in annual nominal terms, has slowed considerably since the 2008 peak of 12.2% annually. However, the Q3-2020 growth of 3.5% surpasses that of the last four quarters. • Consumer loans excluding mortgages (i.e., cards, HELOCS, unsecured lines, auto loans, etc.) fell by 2.2% annually in Q3-2020. Consumer loan growth has trended downward since mid-2000 highs of almost 15% annually, with recent months' negative growth induced by consumer spending pullbacks. Mortgage credit grew at 5.4% annually in Q3-2020 vs the 2008 peak of 13%. Underlying demand coupled with lower five-year rates are driving a rebound in the pace of growth. HOUSEHOLD CREDIT GROWTH -5 20 %, 3-month moving average 15 y/y% change 10 5 m/m% change, SA 0 00 02 04 06 08 10 12 14 16 18 20 Sources: Scotiabank Economics, Bank of Canada. CONSUMER LOAN GROWTH 25 25 [%, 3-month moving average 20 yly% change 15 10 5 0 m/m% -5 change, SA -10 -15 RESIDENTIAL MORTGAGE GROWTH -20 -5 00 02 04 06 08 10 12 14 16 18 20 Sources: Scotiabank Economics, Bank of Canada. 20 %, 3-month moving average 15 y/y % change 10 5 m/m% change, SA 0 00 02 04 06 08 10 12 14 16 18 20 Sources: Scotiabank Economics, Bank of Canada. 99 66#67Appendix 3 Additional Information#68Medium-Term Financial Objectives All-Bank Objectives¹ EPS Growth 7%+ ROE 14%+ Operating Leverage 13-5 year targets from 2020 Investor Day Positive Capital Strong Levels 68#69Additional Information Scotiabank Listings: Toronto Stock Exchange (TSX: BNS) New York Stock Exchange (NYSE: BNS) Scotiabank Common Share Issue Information: 064149107 CA0641491075 • CUSIP: • ISIN: . . 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 AA Senior Debt² A2 A- AA- AA (low) Subordinated Debt (NVCC) Baa1 BBB+ A (low) Short Term Deposits/Commercial Paper P-1 A-1 F1+ R-1 (high) Covered Bond Program Aaa Not Rated AAA AAA Outlook Stable Stable Negative Stable 1Includes: (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 69#70Contact Information Investor Relations Philip Smith Senior Vice President 416-863-2866 [email protected] Rene Lo Director 416-866-6124 [email protected] Sophia Saeed Vice President 416-933-8869 [email protected] Tiffany Sun Senior Manager 416-866-2870 [email protected] Funding Tom McGuire Executive Vice President & Group Treasurer 416-860-1688 [email protected] Christy Bunker SVP, CB & GWM Treasurer, Term Funding and Capital management 416-933-7974 [email protected] Mark Michalski Director, Strategy & Market Development, Funding 416-866-6905 [email protected] 70 0