#1apn NOVEMBER 2016 Investor Presentation Vous tres plus SERVICE COMPLET SECOND QUARTER 2017 May 30, 2017 Scotiabank#2Caution Regarding Forward-Looking Statements Our public communications often include oral or written forward-looking statements. Statements of this type are included in this document, and may be included in other filings with Canadian securities regulators or the U.S. Securities and Exchange Commission, or in other communications. All such statements are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. Forward-looking statements may include, but are not limited to, statements made in this document, the Management's Discussion and Analysis in the Bank's 2016 Annual Report under the headings "Overview-Outlook," for Group Financial Performance "Outlook," for each business segment "Outlook" and in other statements regarding the Bank's objectives, strategies to achieve those objectives, the regulatory environment in which the Bank operates, anticipated financial results (including those in the area of risk management), and the outlook for the Bank's businesses and for the Canadian, U.S. and global economies. Such statements are typically identified by words or phrases such as "believe," "expect," "anticipate," "intent," "estimate," "plan," "may increase," "may fluctuate," and similar expressions of future or conditional verbs, such as "will," "may," "should," "would" and "could." By their very nature, forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, and the risk that predictions and other forward-looking statements will not prove to be accurate. Do not unduly rely on forward-looking statements, as a number of important factors, many of which are beyond the Bank's control and the effects of which can be difficult to predict, could cause actual results to differ materially from the estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to: the economic and financial conditions in Canada and globally; fluctuations in interest rates and currency values; liquidity and funding; significant market volatility and interruptions; the failure of third parties to comply with their obligations to the Bank and its affiliates; changes in monetary policy; legislative and regulatory developments in Canada and elsewhere, including changes to, and interpretations of tax laws and risk-based capital guidelines and reporting instructions and liquidity regulatory guidance; changes to the Bank's credit ratings; operational (including technology) and infrastructure risks; reputational risks; the risk that the Bank's risk management models may not take into account all relevant factors; the accuracy and completeness of information the Bank receives on customers and counterparties; the timely development and introduction of new products and services in receptive markets; the Bank's ability to expand existing distribution channels and to develop and realize revenues from new distribution channels; the Bank's ability to complete and integrate acquisitions and its other growth strategies; critical accounting estimates and the effects of changes in accounting policies and methods used by the Bank as described in the Bank's annual financial statements (See "Controls and Accounting Policies-Critical accounting estimates" in the Bank's 2016 Annual Report) and updated by this document; global capital markets activity; the Bank's ability to attract and retain key executives; reliance on third parties to provide components of the Bank's business infrastructure; unexpected changes in consumer spending and saving habits; technological developments; fraud by internal or external parties, including the use of new technologies in unprecedented ways to defraud the Bank or its customers; increasing cyber security risks which may include theft of assets, unauthorized access to sensitive information or operational disruption; consolidation in the financial services sector in Canada and globally; competition, both from new entrants and established competitors; judicial and regulatory proceedings; natural disasters, including, but not limited to, earthquakes and hurricanes, and disruptions to public infrastructure, such as transportation, communication, power or water supply; the possible impact of international conflicts and other developments, including terrorist activities and war; the effects of disease or illness on local, national or international economies; and the Bank's anticipation of and success in managing the risks implied by the foregoing. A substantial amount of the Bank's business involves making loans or otherwise committing resources to specific companies, industries or countries. Unforeseen events affecting such borrowers, industries or countries could have a material adverse effect on the Bank's financial results, businesses, financial condition or liquidity. These and other factors may cause the Bank's actual performance to differ materially from that contemplated by forward-looking statements. For more information, see the "Risk Management" section of the Bank's 2016 Annual Report. Material economic assumptions underlying the forward-looking statements contained in this document are set out in the 2016 Annual Report under the heading "Overview-Outlook," as updated by this document; and for each business segment "Outlook". The "Outlook" sections are based on the Bank's views and the actual outcome is uncertain. Readers should consider the above-noted factors when reviewing these sections. The preceding list of factors is not exhaustive of all possible risk factors and other factors could also adversely affect the Bank's results. When relying on forward-looking statements to make decisions with respect to the Bank and its securities, investors and others should carefully consider the preceding factors, other uncertainties and potential events. The Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by or on its behalf. Additional information relating to the Bank, including the Bank's Annual Information Form, can be located on the SEDAR website at www.sedar.com and on the EDGAR section of the SEC's website at www.sec.gov. 2 Scotiabank®#3obs NOVEMBER 2016 A Vous êtes plus Overview SERVICE COMPLET Brian Porter President & Chief Executive Officer Scotiabank®#4Q2 2017 Overview ● Good Q2 results . Net income of $2.1 billion • Diluted EPS of $1.62 per share • ROE of 14.9% Strong operating performances across all three business lines Capital position remains strong Scotiabank® 4#5apr NOVEMBER 2016 A Vous êtes plus r SERVICE COMPLET Financial Review Sean McGuckin Chief Financial Officer Scotiabank#6Q2 2017 Financial Performance Year-over-Year Highlights 1,2 Net Income grew 11% Diluted EPS growth of 11% Revenue up 4% on a TEB basis $ millions, except EPS Q2/17 Q/Q Y/Y1,2 • Net Income 2,061 +3% +11% • Diluted EPS $1.62 +3% +11% • Revenues $6,581 -4% •Revenues (TEB) $6,918 +4% Expenses $3,601 -2% +5% Productivity Ratio Productivity Ratio (TEB) 52.1% -130bps +30bps . Core Banking Margin 2.54% +14bps +16bps 54.7% 100bps +250bps Dividends Per Common Share +$0.02 +$0.02 $0.76 $0.74 $0.74 $0.72 $0.72 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 • • Higher asset growth in Canadian and International Banking and increased contributions from asset/liability management activities Increased fees and gains on sale of real estate Offset by reduced net gain on investment securities and impact of foreign currency translation Expense growth of 5% • Focused business investment to drive higher digital and technology related expenses Realized $155 million in savings from our structural cost transformation in Q2/17 Positive operating leverage on a TEB basis PCL ratio improved 15 bps Announced dividend increase ¹Adjusting for restructuring charge of $278 million after-tax ($378 million before-tax) in Q2/16 Due mostly to lower energy provisions Scotiabank® 2Using TEB grosses up tax-exempt income earned on certain securities reported in either net interest income or non-interest income to an equivalent before tax basis. A corresponding increase is made to the provision for income taxes; hence, there is no impact on net income. 6#7Capital - Strong Position Basel III Common Equity Tier 1 (CET1) (%) 10.1 10.5 11.0 11.3 11.3 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 CET1 Risk-Weighted Assets ($B) 357 375 358 364 360 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 7 • • • Highlights Capital ratio stable at 11.3%, notwithstanding larger share. buyback and pension revaluation Quarterly dividend of $0.76 per share CET1 risk-weighted assets increased $15 billion Q/Q Primarily due to the impact of a weaker Canadian dollar and organic growth in personal and business lending RWA Partly offset by lower market and counterparty credit RWA Leverage ratio of 4.4% Capital position remains strong Scotiabank®#8Canadian Banking Net Income ($MM) 977 930 954 981 971 877 Q2/16 Q3/16 Q4/16 Q1/17 • Q2/17 • Gain on sale of a non-core lease financing business Year-over-Year Highlights Net income down 1% or up 11%, adjusting for the gain on disposition of a non-core lease finance business in Q2/16 Net income up 5% when adjusting for real estate gains as well Loan growth of 4% Adjusting for Tangerine run-off portfolio, mortgages up 5% Business loans up 9% Deposits up 4% Retail savings deposits grew 11% and chequing accounts were up 10% PCL ratio up 3 bps Expenses up 3% Higher spending on digital and technology to support business growth, partially offset by benefits realized from cost reduction initiatives Positive operating leverage YTD Solid growth in assets and deposits Scotiabank® Average Assets ($B) 307 310 313 316 318 Net Interest Margin (%) • NIM stable 2.38 2.38 2.39 2.39 2.38 • 5 299 303 307 311 313 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Tangerine run-off mortgage portfolio (1) Attributable to equity holders of the Bank 8 . •#9International Banking 1 Net Income ($MM) 595 576 547 527 500 • . Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 • Average Assets ($B) 145 140 142 143 149 Net Interest Margin (%) 5.00 4.79 4.77 4.73 4.69 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 (1) Attributable to equity holders of the Bank (2) Adjusting for foreign currency translation - see page 5 of MD&A for additional details 9 • Year-over-Year Highlights Net Income up 19% or 23%2 Higher net interest margin and lower provision for credit losses Loans up 3% and deposits up 10% Adjusting for the impact of foreign • currency translation, commercial loan volumes were up 4% Q/Q • NIM up 31 bps • Driven by changes in Central Bank rates and business mix PCL ratio improved by 17 bps Expenses up 3% or 2%² • Increased business volumes, inflation and negative impact of foreign currency translation Partly offset by benefits realized from cost reduction initiatives Positive operating leverage YTD Margin expansion and positive operating leverage Scotiabank®#10Global Banking and Markets Net Income ($MM) 517 461 469 421 323 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 · · • Average Loans² ($B) Net Interest Margin (%) 84 81 81 82 80 1.78 1.75 1.72 • 1.63 1.60 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 (1) Attributable to equity holders of the Bank (2) (3) Average Business & Government Loans & Acceptances Corporate Banking only 10 Year-over-Year Highlights Net Income up 60% • Increased income from equities related primarily to higher client activity in equity trading, contributing 40% of the year-over-year earnings growth Remaining increases from Corporate Banking businesses primarily in U.S. and Canada, as well as lower PCLS Partly offset by lower results in derivatives and commodities businesses Revenue up 14% PCL ratio improved by 56 bps, driven by lower provisions in the energy sector Expenses up 2% • Higher performance based compensation, as well as higher expenses related to technology and regulatory initiatives Higher contributions from equities and improved credit performance Scotiabank®#11(1) (2) (3) Other Segment¹ Net Income 1 19 2,3 ($MM) (23) (78) (86) Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 • Year-over-Year Highlights Lower net gain on investment securities, lower gains on sale of real estate, the negative impact of foreign currency translation (including hedges), and higher expenses Partly offsetting was an increase in the collective allowance on performing loans last year Includes Group Treasury, smaller operating segments, and other corporate items which are not allocated to a business line. The results primarily reflect the net impact of asset/liability management activities Attributable to equity holders of the Bank Adjusting for restructuring charge of $278 million after-tax ($378 million before-tax) in Q2/16 11 Scotiabank®#12obs NOVEMBER 2016 Risk Review Vous etes plus SERVICE COMPLET C Daniel Moore Ho Chief Risk Officer Scotiabank#13Risk Review . ● . . Overall credit fundamentals remain within expectations PCL ratio - Credit performance remains strong at 49 basis points, up 4 basis points Q/Q and down 15 basis points Y/Y Gross impaired loans of $5.4 billion up 3% Q/Q¹ • • Net impaired loan ratio was flat Q/Q at 0.49% Net formations of $807 million was up from $723 million in Q1/17, driven by International Commercial and Global Banking and Markets Market risk - Average 1-day all-bank VaR of $11.1 million, down from $12.0 million in Q1/17 No trading loss days in Q2/17 Excludes loans acquired under the Federal Deposit Insurance Corporation (FDIC) guarantee related to the acquisition of R-G (1) Premier Bank of Puerto Rico. 13 Scotiabank®#14PCL Ratios (Total PCL as a % of Average Net Loans Q2/16 Q 3/16 Q4/16 Q1/17 Q2/17 & Acceptances) Canadian Banking Retail 0.30 0.30 0.31 0.32 0.34 Commercial 0.14 0.20 0.14 0.21 0.14 Total 0.28 0.29 0.28 0.30 0.31 Total Excluding net acquisition benefit 0.30 0.31 0.29 0.31 0.32 International Banking Retail 2.09 2.13 2.01 2.10 2.19 Commercial 0.97 0.47 0.33 0.35 0.51 Total 1.50 1.26 1.15 1.21 1.33 Total - Excluding net acquisition benefit 1.63 1.39 1.32 1.32 1.45 Global Banking and Markets 0.57 0.19 0.19 0.04 0.01 All Bank 0.59 (1) 0.47 0.45 0.45 0.49 (1) Adjusting for collective allowance increase; including collective allowance increase, All Bank PCL ratio was 0.64 14 Scotiabank®#15NOVEMBER 2016 Vous etes plus SERVICE COMPLET Appendix Scotiabank#16Diluted EPS Reconciliation $ per share Q2/17 Reported Diluted EPS $1.62 Add: Amortization of Acquisition and $0.01 Intangibles Adjusted Diluted EPS $1.63 16 Scotiabank®#17Core Banking Margin 2.54% 2.38% 2.38% 2.40% 2.40% Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 17 Year-over-year Higher margins in International Banking, mostly driven by business mix changes, higher inflation, and Central Bank rate changes in the Pacific Alliance countries Higher contributions from asset/liability management activities Scotiabank®#18Canadian Banking - Revenue & Volume Growth Revenues (TEB) ($ millions) Average Loans & Acceptances ($ billions) +4%2 Y/Y +3% Y/Y 41 43 44 73 75 75 - 8 5 5 3,056 3,186 3,134 179 186 188 788 846 835 Q2/16 489 520 528 Business Q1/17 Q2/17 ■Personal & credit cards 116 1,663 1,820 1.771 Tangerine mortgage run-off Residential mortgages Average Deposits ($ billions) +4% Y/Y Q2/16 Q1/17 Q2/17 65 69 69 Wealth ■Commercial 158 162 162 ■Gain on sale of a non-core lease financing business ■Retail Q2/16 Q1/17 Q2/17 €2 (1) Adjusting for gain on sale of non-core lease financing business in Q2/16, revenue increased 7% year over year (2) Adjusting for Tangerine run-off portfolio, loans & acceptances increased 5% year over year Personal Non-personal 18 Scotiabank®#19Canadian Banking – Net Interest Margin - 2.38% 2.38% 2.39% 2.39% 2.38% Year-over-Year 1.66% 1.66% 1.67% 1.64% 1.65% 0.94% 0.96% 0.94% 0.97% 0.97% Net Interest Margin was stable at 2.38%, as increased spreads in retail deposits and higher yields on unsecured lending were offset by lower spreads on commercial loans and residential mortgages Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Total Canadian Banking Margin Total Earning Assets Margin -Total Deposits Margin 19 Scotiabank®#20International Banking – Revenue & Volume Growth Revenues (TEB) ($ millions) - Average Loans & Acceptances ($ billions) +4% Y/Y +6% 23 25 24 Y/Y 27 2,469 2,586 2,618 28 29 55 52 55 905 975 879 1,590 1,611 1,713 Q2/16 Net interest income (1) Includes deposits from banks Q2/16 Q1/17 Q2/17 Business ■Residential mortgages Personal & credit cards Average Deposits¹ ($ billions) +10% Y/Y 35 34 34 Q1/17 Q2/17 53 57 61 Non-interest revenue Q2/16 ■Non-personal Q1/17 Q2/17 ■ Personal 20 20 Scotiabank®#21International Banking - Regional Growth Revenues (TEB) ($ millions) +6% Average Loans & Acceptances ($ billions) +4% Y/Y Y/Y 33 32 33 2,469 2,586 2,618 -103 -110 -102 72 71 77 786 774 761 Q2/16 Q1/17 Latin America Q2/17 ■Caribbean & Central America Constant FX 1,606 1,697 1,734 Retail Commercial1 Total Loan Volumes Y/Y Latin America 11% 0% 5% Q2/16 Q1/17 Asia Q2/17 C&CA -1% -3% -2% ■Caribbean & Central America Total 7% -1% 3% Latin America (1) Excludes bankers acceptances 21 21 Commercial loans increased 4% Q/Q Scotiabank®#22International Banking - Commercial Loan Growth +4% 55.3 55.9 54.5 53.1 53.3 53.4 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 (1) In $ billions and reflects foreign exchange translation at Q2/17 foreign exchange rates 22 22 • Highlights Quarter-over-quarter commercial loan growth recovered +4% and momentum is expected to continue in the second half of 2017. Year-over-year loan growth was impacted by strong volumes in the first half of 2016, and growth is expected to be positive for the second half of 2017. Scotiabank®#23Global Banking and Markets Revenues (TEB) ($ millions) - Revenue & Volume Growth Average Loans & Acceptances ($ billions) +14% Y/Y -5% Y/Y 1,215 1,203 1,058 80 84 82 637 658 512 Q2/16 Q1/17 Q2/17 All-Bank Trading Revenue (TEB) ($ millions) 548 518 546 578 545 404 428 Q2/16 Q1/17 Q2/17 ■Capital Markets ■Business Banking 23 23 Q2/16 423 Q3/16 Q4/16 Q1/17 Q2/17 Scotiabank®#24Economic Outlook in Key Markets Real GDP (Annual % Change) 2000-15 Country 2016 A 2017F 2018F Avg. Mexico 2.4 2.3 2.0 2.5 Peru 5.3 3.9 2.5 3.7 Chile 4.3 1.6 1.8 2.4 Colombia 4.3 2.0 2.0 2.8 2000-15 2016 A 2017F 2018 F Avg. Canada 2.2 1.4 2.5 2.0 U.S. 1.9 1.6 2.2 2.4 Source: Scotia Economics, as of May 3, 2017 24 24 Scotiabank®#25Energy Exposures¹ . . • Committed to our guidance of a cumulative PCL ratio of less than 3% 2 since 2015 • • Cumulative PCL ratio of 2.1% as of Q2/172 Risk of loss has declined in this sector Drawn corporate energy exposure of $14.6 billion increased 0.5% Q/Q3 • Approximately 52% investment grade Undrawn commitments of $12.4 billion increased 12% Q/Q³ Approximately 68% investment grade • Focus on select non-investment grade E&P and Services accounts Approximately two-thirds of focus accounts have issued debt ranking below the Bank's senior position (1) (2) (3) Exposures relate to loans and acceptances outstanding as of April 30, 2017 and to undrawn commitments attributed/related to those drawn loans and acceptances. Cumulative PCL ratio by sector is calculated as total PCLs over the period Q1/15 - Q2/17 divided by the average quarterly exposure over the period Q1/15 - Q2/17. Quarter-over-quarter impact is calculated on a constant currency basis. 25 Scotiabank®#26Provisions for Credit Losses ($ millions) Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Canadian Retail 190 196 203 213 220 Canadian Commercial 14 21 14 22 16 Total Canadian Banking 204 217 217 235 236 Total - Excluding net acquisition benefit 221 232 221 240 247 International Retail 250 254 251 265 280 International Commercial 130 62 43 45 69 Total International Banking 380 316 294 310 349 Total - Excluding net acquisition benefit 415 343 337 340 380 Global Banking and Markets 118 38 39 2 All Bank 702 571 550 553 587 All Bank - Excluding net acquisition benefit 754 613 597 588 629 Increase in Collective Allowance 50 0 0 0 0 All Bank 752 571 550 553 587 PCL ratio (bps) - Total PCLS as a % of Average Net Loans & Acceptances Excluding Collective Allowance 59 47 45 45 49 Including Collective Allowance 64 47 45 45 49 26 26 Scotiabank®#271 Net Formations of Impaired Loans ($ millions) 1,200 1,000 800 600 400 200 0 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Net Formations Q3/16 Q4/16 Q1/17 Q2/17 -Average (1) Excludes loans acquired under the Federal Deposit Insurance Corporation (FDIC) guarantee related to the acquisition of R-G Premier Bank of Puerto Rico. 27 27 Scotiabank®#281 Gross Impaired Loans" ($ billions) 6.0 5.5 5.0 4.5 4.0 3.5 3.0 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 -GILS as % of Loans & BAS (RHS) GILS (LHS) (1) Excludes loans acquired under the Federal Deposit Insurance Corporation (FDIC) guarantee related to the acquisition of R-G Premier Bank of Puerto Rico. 28 1.15% 1.10% 1.05% 1.00% 0.95% 0.90% 0.85% Scotiabank®#29Canadian Retail: Loans and Provisions $196.8 (Spot Balances as at Q2/17, $ billions) Total Portfolio = $271 billion 1; 93% secured 2 $32.3 $35.2 $6.8 Mortgages Lines of Credit Personal Loans Credit Cards % secured 100% 59% 99% 4% PCL2 Q2/17 Q1/17 Q2/17 Q1/17 Q2/17 Q1/17 Q2/17 Q1/17 $ millions 3 3 63 57 83 80 71 73 % of avg. net 1 1 81 72 101 96 452 437 loans (bps) (1) Includes Tangerine balances of $8 billion (2) 81% secured by real estate; 12% secured by automotive 29 29 Scotiabank®#30Canadian Residential Mortgage Portfolio (Spot Balances as at Q2/17, $ billions) $96.2 $10.5 Total Portfolio: $197 billion Average LTV of uninsured Insured 54% Uninsured 46% mortgages is 51%¹ New originations² average LTV of 63% in Q2/17 $85.7 $33.4 $7.0 $30.5 $3.7 $15.7 $1.7 $11.8 $0.2 $9.2 $26.4 $26.8 $0.7 $14.0 $11.6 $8.5 Ontario B.C. & Alberta Quebec Territories Atlantic Provinces Manitoba & Saskatchewan ■Freehold - $173B ■Condos $24B € LTV calculated based on the total outstanding balance secured by the property. Property values indexed using Teranet HPI data. New originations defined as newly originated uninsured residential mortgages and have equity lines of credit, which include mortgages for purchases, refinances with a request for additional funds and transfer from other financial institutions. (2) (3) Some figures on bar chart may not add due to rounding. 30 Scotiabank®#31International Retail: Loans and Provisions (Spot Balances as at Q2/17, $ billions¹) $19.1 $1.9 $4.5 Total Portfolio₁ = $56 billion; 65% secured Credit Cards ($7.1B) ■Personal Loans ($16.5B) ■Mortgages ($31.4B) $11.9 $10.3 $1.6 - $0.5 $2.8 $3.4 $7.9 $1.4 $5.8 $12.7 $3.7 $1.7 $7.0 $6.9 $2.1 $2.8 $2.0 C&CA ³ 3 3 Mexico Peru Colombia Chile 3 PCL2 Q2/17 Q1/17 Q2/17 Q1/17 Q2/17 Q1/17 Q2/17 Q1/17 Q2/17 Q1/17 $ millions 51 50 42 41 26 23 76 71 69 64 % of avg. net loans (bps) 116 109 185 194 94 88 432 415 510 488 (1) Total Portfolio includes other smaller portfolios (2) Excludes Uruguay PCLs of approximately $16 million (3) Includes the benefits from Cencosud and Citibank net acquisition benefits. Excluding the net acquisition benefits, C&CA's ratio would be 144 bps for Q2/17 and 143 bps for Q1/17 and Chile's ratio would be 130 bps for Q2/17 and 132 bps for Q1/17 Scotiabank® 31#32Millions -5 -10 -15 -20 Q2 2017 Trading Results and One-Day Total VaR 30 25 20 15 10 5 0 Average 1-Day Total VaR Q2/17: $ 11.1 MM Q1/17: $12.0 MM Q2/16: $ 13.9MM 32 -1-Day Total VaR Actual P&L Scotiabank®#33Q2 2017 Trading Results 8 # of days in quarter 7 9 UT 3 2 1 0 2 3 4 5 6 • 7 8 9 10 11 13 15 17 20 20 Daily Trading Revenues ($mm) No trading loss days in Q2/17 33 22 29 29 Scotiabank®#34FX Movements versus Canadian Dollar Canadian (Appreciation) / Depreciation Currency Q2/17 Q1/17 Q2/16 Q/Q Y/Y Spot U.S. Dollar 0.733 0.769 0.797 -4.7% -8.1% Mexican Peso 13.792 16.026 13.71 -13.9% 0.6% Peruvian Sol 2.376 2.514 2.608 -5.5% -8.9% Colombian Peso 2,155 2,248 2,273 -4.1% -5.2% Chilean Peso 488.4 498.4 526.2 -2.0% -7.2% Average U.S. Dollar 0.751 0.750 0.755 0.2% -0.4% Mexican Peso 14.59 15.50 13.46 -5.9% 8.4% Peruvian Sol 2.447 2.533 2.565 -3.4% -4.6% Colombian Peso 2,179 2,266 2,376 -3.8% -8.3% Chilean Peso 491.2 498.2 515.2 -1.4% -4.7% 34 34 Scotiabank®