#1Investor Presentation August 2021 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 and financial market conditions and the Bank's business, results of operations, financial condition and prospects; and the Bank's anticipation of and success in managing the risks implied by the foregoing. A substantial amount of the Bank's business involves making loans or otherwise committing resources to specific companies, industries or countries. Unforeseen events affecting such borrowers, industries or countries could have a material adverse effect on the Bank's financial results, businesses, financial condition or liquidity. These and other factors may cause the Bank's actual performance to differ materially from that contemplated by forward- looking statements. The Bank cautions that the preceding list is not exhaustive of all possible risk factors and other factors could also adversely affect the Bank's results, for more information, please see the "Risk Management" section of the Bank's 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: Bail-in and TLAC Appendix 4: Covered Bonds Appendix 5: Additional Information Contact Information + 2 21 26 34 38 888 11 41 49 56 65 59 69 73 77 81 3#4• Scotiabank Leading Bank in the Americas Business Lines² Core Markets¹ #3 in Canada #3 in P&C Banking #3 in Peru #3 in Chile #2 in Capital Markets #5 in Mexico #6 in Colombia #3 in Wealth 1 Core Markets rankings based on latest available market share data on loans for publicly traded banks as of April 2021 in Canada, June 2021 in Mexico, Peru and Chile, May 2021 in Colombia 2 Business Line rankings based on Total Revenue or Total Net Income for publicly traded banks in Canada for the fiscal year ended October 31, 2020 4#5Leading Bank in the Americas¹ Core markets: Canada, US, Mexico, Peru, Chile and Colombia 7th largest bank by assets¹ in the Americas Full-Service, Universal Bank Canada Mexico Peru Chile Colombia Caribbean Uruguay Wholesale Operations USA UK Singapore Australia Ireland Scotiabank² 2021 YTD Change YTD/YTD Revenue Net Income $23,565MM $7,453MM +48% Return on Equity 14.8% +460 bps Operating Leverage +1.6% n.a. Productivity Ratio 52.1% (80 bps) Total Assets $1.2T (1%) 12.2% +90 bps CET1 Ratio Ranking by Market Share³ Canada #3 USMCA USA4 Top 10 FBO Mexico #5 Pacific Alliance Peru #3 Countries Chile (PAC) #3 Colombia #6 36 Hong Kong SAR China Brazil India Japan Earnings by Market2,5 1 Ranking by asset as at August 18, 2021, Bloomberg; 2 Refer to Non-GAAP Measures on slide 80 for adjusted results. Revenue growth, Net Income growth, and Operating Leverage excludes divested operations; 3 Ranking based on market share in loans as of June 2021 in Mexico, Peru and Chile, May 2021 in Colombia, as of April 2021 in Canada for publicly traded banks; 4 Ranking by asset as of March 2021; 5 Adjusted net income attributable to equity holders of the Bank for the 9 months ended July 31, 2021 -Other- C&CA 3%4% PAC 17% 7% Canada U.S.A 69% 5#6Well-Diversified Business with Strong Returns Earnings by Business Line 1,2 Wealth Management 17% Earnings by Market1,2,4 Caribbean and Europe Asia Brazil Central America 2% 2% 1% Colombia 1% C&CA Wholesale Banking 22% Global Wealth Management 17% 3% Peru 4% Chile Canadian Global Banking and Q3/21 YTD EARNINGS MIX Banking P&C Personal & Commercial 6% Banking Mexico 6% 42% 61% Q3/21 YTD EARNINGS MIX Canada $7.0B³ U.S. Markets 22% 7% $7.0B³ 69% International Banking P&C 19% Adjusted Return on Equity 1,2 by Business Line 21.6% 15.0% 14.9% 13.1% 11.6% 23.9% 17.1% 16.9% 14.8% 10.0% 3-year average ROE Canadian Banking International Banking Global Wealth Management Global Banking and Markets All Bank 1Net income attributable to equity holders for the 9 months ended July 31, 2021; 2 Refer to Non-GAAP Measures on slide 80 for adjusted results. ; 3 Excludes Other segment; 4 May not add due to rounding 6#7Business Lines (Q3/21 YTD Results) Activity Business Line Products NIAEH¹ ($MM) Personal & Commercial Banking Wealth Management Capital Markets Canadian Banking • Mortgages Auto Loans Commercial Loans • Personal Loans Credit Cards International Banking • Mortgages Auto Loans Commercial Loans • Personal Loans • Credit Cards Global Wealth Management • Asset Management • Private Banking • Private Investment Counsel Brokerage ⚫ Trust $1,200 Global Banking and Markets Corporate Banking • Advisory Equities Fixed Income Foreign Exchange • Commodities $1,573 $2,929 $1,320 % All-Bank¹ 42% 19% 17% 22% % Target 35-40% 25-30% ~15% 15-20% Productivity 45.7% 54.2% 59.6% 48.5% Ratio¹ ROE1 23.9% 10.0% 17.1% 16.9% Total Assets² ($B) $374.9 $194.8 $28.5 $398.4 Employees³ 17,424 45,426 7,461 2,130 1 Adjusted figures for the 9 months ended July 31, 2021 2 Average balance for the 9 months ended July 31, 2021 3 As of July 31, 2021 7#8Why Invest in Scotiabank? Leading bank in the Americas . Six core markets: Canada, US, Mexico, Chile, Peru and Colombia ~95% of earnings from the Americas • Only universal bank with full presence in all Pacific Alliance countries Diversified exposure to high quality growth markets Unique Americas footprint provides diversified exposure to higher growth, high ROE banking markets 229 million people in the Pacific Alliance countries comprise the 6th largest economy in the world , Increasing scale and market share in core markets • Competitive scale and increasing market share in core markets Competitive advantages in technology, risk management and funding versus competitors $ Strong risk culture: solid credit quality, well provisioned Acceleration in Digital Banking · Strong Canadian risk management culture with strong capabilities in AML and cybersecurity Focus on secured and investment-grade lending $6.2 billion in allowances for credit losses as of Q3/21 • Increased Digital Adoption to 54% in Q3/21 ⚫ "Most Innovative in Data" - The Banker (2021) Named "Best Bank in North America for Innovation in Digital Banking" (2020) #1 ranking for "Online Banking Satisfaction" - J.D. Power 2020 8#9Focused on Higher Return Markets Higher Banking ROEs in Canada and Latam 35% 30% 32.5% 28.4% 25% 20% 15% 11.8% 10.7% 10.1% 10% 12.1% 10.6% 6.1% 10.1% 5% 6.0% 0% Canada S Latam US Asia Europe ~95% of All-Bank earnings 3-year average ROE of market Average ROE of market in latest reporting period Return on equity based on latest reporting period as of August 18, 2021 Canada figures are average of Canadian P&C return on equity Canada and US figures are average for five largest and 10 largest market share banks in each country, respectively. Latam figures are average of 8 banks across Mexico, Peru, Chile, Colombia, and Brazil Sources: Bloomberg LLP, Company Financial Reports 9#10Q3 2021 Financial Performance $MM, except EPS Q3/21 Y/Y Q/Q Reported Net Income $2,542 95% 4% • Pre-Tax, Pre-Provision Profit $3,660 (2%) (1%) • Diluted EPS $1.99 91% 6% Revenue $7,757 Expenses $4,097 2% 1% Productivity Ratio 52.8% 80 bps 60 bps Core Banking Margin 2.23% 13 bps (3 bps) PCL Ratio¹ 24 bps (112 bps) (9 bps) PCL Ratio on Impaired Loans¹ 53 bps (5 bps) (27 bps) Adjusted² Net Income $2,560 96% 3% Pre-Tax, Pre-Provision Profit $3,684 (1%) (1%) Diluted EPS $2.01 93% 6% • Revenue $7,757 1% • Expenses $4,073 3% Productivity Ratio 52.5% 110 bps 1% 60 bps YEAR-OVER-YEAR HIGHLIGHTS Adjusted EPS² up 93%; up 6% Q/Q Adjusted pre-tax, pre-provision profit² down 1% Adjusted revenue² up 1%, or up 5% excluding the impact of foreign exchange o Non-interest income up 3% or up 7% excluding the impact of foreign exchange 。 Net interest income down 1%, or up 3% excluding the impact of foreign exchange Core banking margin up 13 bps Adjusted expenses² up 3% (up 1% Q/Q) YTD adjusted operating leverage² of +1.6% Strong ROE² of 15.1% ADJUSTED NET INCOME² YEAR-OVER-YEAR ($MM) ADJUSTED NET INCOME 2,3 BY BUSINESS SEGMENT ($MM) (122) 1,801 (495) 104 2,560 (36) 1,083 1,308 433 332 397 600 513 53 493 Q3/20 Net interest Non interest Income income PCLS Non-interest Taxes expenses Q3/21 Canadian Banking Global Wealth Management Global Banking and Markets International Banking 1 Includes provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures 2 Refer to Non-GAAP Measures on slide 80 for adjusted results ■ Q3/20 Q3/21 10 3 Attributable to equity holders of the Bank#11Earnings and Dividend Growth Earnings per share (C$)1,2 $3.31 2009-2019 CAGR: +8.0% 2010-2020 CAGR: +3.2% 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Dividend per share (C$) $1.96 $5.36 2019 2020 2021YTD Total shareholder return³ ■Scotiabank ■■Big 5 Peers (ex. Scotiabank) $5.78 8.3% +6% CAGR 13.2% 8.5% 12.8% 10.8% 11.1% 5 Year 10 Year 20 Year $3.60 $2.70 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021YTD 1 Reflects adoption of IFRS in Fiscal 2011; 2 Excludes notable items for years prior to 2016. For 2016 onwards, refer to non-GAAP Measures on slide 80 for adjusted results; 3 As of July 31, 2021 11#12Strong Capital Position CET1 Ratio 1 +32 bps -11 bps -16 bps -6 bps 12.2% -5 bps -4 bps 12.3% Q2 2021 Reported Earnings less Dividends Organic RWA (ex. FX) Reversal of SVaR Increased ownership ECL Transitional Multiplier in Chile Other (net) Capital Relief Q3 2021 Reported Internal capital generation Strong Capital Levels 14.0% 2.1% 1.5% 15.5% 15.7% 14.9% 2.2% 2.1% 2.0% 1.5% 1.4% 1.4% 15.7% 2.0% 1.5% 11.3% 11.8% Q3/20 12.2% 12.3% 12.2% Q4/20 Q1/21 Q2/21 Q3/21 CET1 Tier 1 Tier 2 1 Includes 9 bps benefit from OSFI's partial inclusion of stage 1 and 2 allowances 12#13Scotiabank in the Pacific Alliance Chile Mexico Peru Colombia Scotiabank Market Share¹ Market Share Ranking¹ 13.9% 3th 7.6% 5th 16.2% 5.3% Pacific Alliance Total/Average 10.4% 3rd 6th n.a. Strengths All Products Auto and Mortgages All Products Credit Cards, Personal All Products Average Total Loans² (C$B) $46.0 $29.6 $19.1 $10.5 $105.3 Revenue³ (C$B) $0.5 $0.6 $0.4 $0.3 $1.7 Net Income after NCI³,4 (C$MM) $164 $173 $92 $13 $442 ROE 2,3,4 11.9% 23.1% 14.1% 3.9% 14.3% # of Employees 5,6 7,827 10,265 10,013 6,169 34,274 Total Deposit Growth 7,8 Total Loan Growth 7,8 Productivity Ratio4 Total PTPP Growth 4,7,8 -2% Y/Y -4% 4% Y/Y Y/Y 66% 117 83 56% 58% 76 76 108 13 105 987 10 56% 52% 11 902 931 9 9 10 131 43% 48% 85 113 43% 26 48 41% 24 23 47 47 287 46 38% 315 303 39% 34% 20 16 15 24 20 19 27 28 29 29 32 30 30 30 347 239 234 252 292 221 Q3/20 Q2/21 Q3/21 Q3/20 Q2/21 Q3/21 Q3/20 Q2/21 Q3/21 Q3/20 Q2/21 Q3/21 Mexico Peru Chile Colombia 1 Ranking based on publicly traded banks by total loans market share, as of June, 2021; except Colombia as of May, 2021 2 For the three months ended July 31, 2021 3 For the three months ended July 31, 2021, not adjusted for currency 4 Results on an adjusted basis 5 Employees are reported on a full-time equivalent basis 6 As of July 31, 2021 7Y/Y and Q/Q growth rates (%) are on a constant dollar basis 8 May not add due to rounding 13#14Digital Progress: All-Bank • Canada: Continued growth in mobile users driven by continuous improvement of the Scotiabank mobile application • Pacific Alliance: Strong growth in Self-Serve Transactions, particularly in Peru and Mexico Digital Adoption (%)¹ +7% 7,524 7,310 7,830 +500 bps Active Digital Users (#'000) 6,316 5,276 +48% 50% 54% 49% 43% 2018 2019 2020 Q3/20 Q3/21 36% +1,800 bps +16% 2018 2019 2020 Q3/20 Q3/21 Active Mobile Users (#'000)² 5,903 6,470 5,591 4,513 3,559 Digital Sales (%) 36% 37% 28% 22% 2018 2019 2020 +82% 2018 2019 2020 Q3/20 Q3/21 +600 bps +100 bps 43% Self-Serve Transactions 76% 80% 89% 89% 90% (%) +1,400 bps +2,100 bps Q3/20 Q3/21 1CB Digital Adoption definition was updated in Q1/21 to reflect new addressable customer base, excluding indirect-channel acquisitions 22018 and 2019 use historical estimation based on available mobile user data for Colombia and Chile 2018 2019 2020 Q3/20 Q3/21 14#15Digital Progress: Canada Digital Adoption (%)¹ +4% Active Digital 3,329 3,599 3,847 3,826 3,985 +300 bps Users (#'000) +20% 55% 55% 58% 46% 50% 2018 2019 2020 Q3/20 Q3/21 +1,200 bps +10% 2018 2019 2020 Q3/20 Q3/21 Active Mobile Users (#'000) 2,396 2,666 3,073 2,991 3,304 Digital Sales (%) +38% 2018 2019 2020 Q3/20 Q3/21 +500 bps 26% 26% 25% +5 bps 20% 16% -100 bps Self-Serve Transactions (%) 84% 87% 92% 93% 93% +900 bps 2018 2019 2020 Q3/20 Q3/21 2018 2019 2020 Q3/20 Q3/21 Definitions Digital Sales (% of retail unit sales using Digital platforms, excluding auto, broker originated mortgages and mutual funds) Digital Adoption (% of customers with Digital login (90 days) / Total addressable Customer Base) Digital Users: # of customers who logged into website and/or mobile in the last 90 days Mobile Users: # of customers who logged into mobile in the last 90 days Self-serve Transactions: % of Financial transactions through Digital, ABM, IVR 1CB Digital Adoption definition was updated in Q1/21 to reflect addressable customer base, excluding indirect-channel acquisitions 15 15#16Digital Progress: Pacific Alliance +10% Digital Adoption (%) 3,677 +600 bps Active Digital Users (#'000) 3,484 3,846 2,717 1,947 46% 50% 44% 35% 26% +2,400 bps +97% 2018 2019 2020 Q3/20 Q3/21 +22% 2018 2019 2020 Q3/20 Q3/21 Active Mobile Users (#'000)¹ 2,830 3,166 2,601 1,847 1,163 +172% Digital Sales (%) 2018 2019 2020 Q3/20 Q3/21 +700 bps 55% +300 bps 51% 48% 29% +3,600 bps 19% Self-Serve Transactions (%) 86% 85% 88% 69% 73% +1,900 bps 2018 2019 2020 Q3/20 Q3/21 2018 2019 2020 Q3/20 Q3/21 Definitions Digital Sales (% of retail unit sales using Digital platforms) Digital Adoption (% of customers with Digital login (90 days) / Total addressable Customer Base) Digital Users: # of customers who logged into website and/or mobile in the last 90 days Mobile Users: # of customers who logged into mobile in the last 90 days Self-serve Transactions: % of Financial transactions through Digital, ABM, IVR, POS 12018 and 2019 use historical estimation based on available mobile user data for Colombia and Chile 166 16#17Technology 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 17 1#18Fintech Strategy • • Embracing Fintech Scotiabank has embraced fintech and technology start- ups, acting as an advisor, partner, investor and customer The key objectives of Scotiabank's fintech strategy are: o Identify innovative companies, trends and business models early • o Test, learn and implement fintech innovations o Drive an innovation culture at the Bank Sample Focus Areas • Credit adjudication • • Machine-learning modelling IT Modernization • Accessibility Natural language processing Personal financial management Customer experience and self-service Partnership Approach Scotiabank partners with VCs to amplify our relevance and reach in the global ecosystem, enabling earlier and faster access to innovative companies. Canada High-growth enterprise software firms in analytics, machine learning and enterprise software Israel High growth tech companies in fintech and cybersecurity Latam Early-stage start-ups in digital banking and fintech Sample Partnerships • Fraud Anti-Money Laundering A platform that provides insights and actionable money management A platform that enables data scientists to develop and test models faster - Auto machine learning A platform that specializes in behavioural biometrics for AML & Fraud purposes 18#19• ESG Highlights Environmental Social Governance Mobilized over $28 billion since November 1, 2018, toward our commitment of $100 billion by 2025 to reduce the impacts of climate change Commitment to establish bank-wide, quantitative, time-bound targets for reducing GHG emissions associated with our underwriting and lending activities. Established a dedicated ESG Equity Research Team and launched a Sustainable Finance Group within Global Banking and Markets Implemented a Climate Change Risk Assessment tool for all business banking loans as a mandatory part of credit due diligence Updated Bank-wide credit policies published statements on our position to not finance oil and gas activities within the Arctic Circle, or thermal coal mining or coal power generation Established a target to secure 100% of electricity on a global basis from non-emitting sources1 by 2030, with an interim 2025 target of 100% for Canadian operations Issued the largest Sustainability Bond by a Canadian Financial or Corporate to date, a $1 billion 3-year Sustainability bond. It funds green and social assets, including the advancement of women owned and women-led businesses through The Scotiabank Women Initiative™ Launched Scotia RISE in January 2021, a 10-year, $500 million initiative to promote economic resilience among disadvantaged groups Invested almost $85 million last year in communities in which we operate, through donations, community sponsorships, employee volunteering and other types of community investment Launched renewed five-year Diversity and Inclusion Goals, with a focus on people who identify as Black, Indigenous Peoples, Visible Minorities, People with Disabilities and Women Introduced a training module titled Building Indigenous Cultural Competency to help employees better understand and serve our Indigenous customers in Canada Published the 2021 Green Bond Report detailing the impact and use of proceeds for Scotiabank's 2019 $500 million 3.5-year Green Bond. For the third consecutive year, achieved top 1% in Corporate Governance among financial institutions globally according to the Dow Jones Sustainability Index, and awarded a perfect score on Anti-Crime Policies Strengthened approach to responsible procurement and supplier diversity by joining Canadian Aboriginal and Minority Supplier Council 42% of Board Directors are women². We first established a Board Diversity Policy in 2013 Spearheaded the development of Project Shadow, a public-private partnership designed to combat online child sexual exploitation by enhancing methods to detect, report and disrupt suspicious financial transactions Developed new internal training on ethics in artificial intelligence (AI) and delivered a data ethics workshop for executives TCFD TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES CDP DRIVING SUSTAINABLE ECONOMIES UN Member of EQUATOR PRINCIPLES environment programme Dow Jones finance initiative Powered by the S&P Global CSA Sustainability Indices PRI Corporate ESG Performance MSCI ESG RATINGS AAA Prime Bloomberg Gender-Equality Index RATED BY CCC B BB BBB AA AAA 2021 ISS ESG▷ REFINITIV TOP 100 COMPANY 2020 Diversity and Inclusion Index Includes renewable (hydro, solar, wind, geothermal, tidal) and nuclear sources, and may include the use of renewable energy certificates (RECs). 1 2 As at July 31, 2021. Note: The use by Scotiabank of any MSCI ESG Research LLC or its affiliates ("MSCI") data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of Scotiabank by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided 'as-is' and without warranty. MSCI names and logos are trademarks or service marks of MSCI. 19#20ESG Spotlight - Retail Banking ESG Investing Green Vehicles Housing Focus Areas Leadership in ESG Education Leadership in ESG Funds Leadership in EV Incentives Leadership in EV Financing Leadership in Indigenous Financial Services Leadership in Newcomers Banking 1 Represents bookings from Scotiabank subvented partners only. Recent Achievements Introduced Canada's first sustainable investing tools through Scotiabank's iTrade in 2017. Over 20,000 users interacted with the sustainable investing tool in 2020. iTrade continues to deliver online learning modules to customers interested in learning more about ESG issues. Launched four ESG focused funds in 2020, the Scotia Low Carbon Funds (Global Equity, Global Balanced, & Canadian Fixed Income) & the Dynamic Energy Evolution Fund for retail investors. These funds add to other ESG investing offerings, the ESG Equity Guided Portfolio, the Jarislowsky Fraser Fossil Fuel Free Funds and the MD Fossil Fuel Free Funds. EV represents 5.8% of our total bookings (100% of Tesla and 7% of Hyundai bookings are EV) FYTD as of July and holds 6.5% of total booking amount Substantial booking growth for electric vehicles in 2019 at 248% YoY, 16% in 2020 despite COVID- 19, and 98% on a FYTD basis in 2021 (as of July 31) Scotiabank is a market leader in financing electric vehicles, having financed 43% of EVs in Canada in 2020.1 Substantial booking growth for electric vehicles in 2019 at 248% YoY and 16% YoY growth in 2020. We have an exclusive relationship with Polestar and Rivian as well as a semi-exclusive relationship with Tesla. Scotiabank operates 27 Aboriginal Banking Centres in Canada providing communities with our full range of banking services. The First Nations Leasehold program provides financing options for leasehold interests on First Nations land being developed with residential housing. Scotiabank's StartRightⓇ program addresses the unique banking needs of newcomers in Canada. The Scotiabank StartRightⓇ permanent resident mortgage program and the Scotiabank StartRightⓇ temporary resident mortgage program help facilitate newcomers' financing of home purchases. 20#21Business Line Overview Canadian Banking 21 24#22Canadian Banking 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. Canadian Banking also provides an alternative self-directed banking solution to over 2 million Tangerine Bank customers. Business Mix Retail 66% Residential Mortgages 64% Financial Results $MM Q3/21 Y/Y Q/Q Revenue Average Reported Mix 1,2 $2.8B 34% Business Banking Loan Mix¹ $381B 11% 14% Auto Business and 9% Government Loans 2% Other Personal Credit Cards Loans Net Income³ $1,079 152% 16% Pre-Tax, Pre Provision Profit $1,528 15% 10% Revenue² $2,795 12% 7% Expenses² $1,267 8% 3% PCLS $69 (91%) (52%) Adjusted Net Income 3, 4 ($MM) and NIM5 (%) Productivity Ratio 45.3% (160 bps) (150 bps) 2.26% 2.26% 2.26% 2.26% 2.23% Net Interest Margin5 2.23% (3 bps) (3 bps) PCL Ratio6 0.07% (78 bps) (9 bps) 782 915 931 1,083 433 PCL Ratio on Impaired Loans Adjusted 4 0.14% (22 bps) (13 bps) Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Net Income³ $1,083 150% 16% Medium-Term Financial Objectives Net Income Growth³ Target7 5%+ Pre-Tax, Pre Provision Profit Expenses Productivity Ratio $1,533 15% 9% $1,262 8% 3% 45.1% (160 bps) (150 bps) Productivity Ratio Operating Leverage <44% Positive 1 For the three months ended July 31, 2021; 2Reflects the adoption of leases accounting standards, IFRS16; 3 Net income attributed to equity shareholders; 4 Refer to Non-GAAP Measures on slide 80 for adjusted results. 5 Net Interest Margin is on a reported basis; 6 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures; 73-5 year target from 2020 Investor Day 22 22#23Loan Portfolio 83% Real Estate Secured Lending • High Quality Residential Mortgage Portfolio 。 33% insured; remaining 67% uninsured has an LTV of 49%¹ 。 Mortgage business model is “originate to hold" 。 New originations² in Q3/21 had average LTV of 65.3% 。 Majority is freehold properties; condominiums represent approximately 15% of the portfolio • Market Leader in Auto Loans o $38.3 billion retail auto loan portfolio with 9 OEM relationships (5 exclusive) o Prime Auto and Leases (~92%) 。 Stable lending tenor with contractual terms for new originations averaging 77 months (6.5 years) with projected effective terms of 52 months (4.5 years) • Prudent Growth in Credit Cards o $6 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 $349B 2% Credit Cards 1 LTV calculated based on the total outstanding balance secured by the property. Property values indexed using Teranet HPI data 2 New originations defined as newly originated uninsured residential mortgages and have equity lines of credit, which include mortgages for purchases refinances with a request for additional funds and transfer from other financial institutions 3 Spot Balance as of July 31, 2021; Percentages may not add to 100% due to rounding 11% Automotive 23#24Residential Mortgages ⚫ Four Distinct Distribution Channels¹: 1. Broker (~63%); 2. Branch (~16%); 3. Mobile Salesforce (~21%) and 4. eHOME (<1%) FICO® Distribution - Canadian Uninsured Portfolio 2,3 Q3-20 Q2-21 Q3-21 65% Canada Average FICO® Score Canada 795 GTA 798 Total Originations ($B) Uninsured LTV 13.0 16.9 26.6 64% 64% 65% GVA 795 748-788 > 788 15% 10% 8% 2% < 635 636 - 706 707-747 Canadian Mortgage Portfolio: $270B (Spot balances as at Q3/21, $B) 33% Insured Freehold $230B (85%) Condos - $40B (15%) Greater Toronto Area Total Originations ($B) Uninsured LTV Greater Vancouver Area Total Originations ($B) Uninsured LTV 3.7 5.0 7.8 62% 63% 64% 1.5 2.1 3.3 63% 63% 64% $145.5 $19.1 $52.4 $126.4 $32.4 Total Portfolio4: $14.0 $3.8 $38.4 $28.6 Ontario BC & Territories Alberta $18.5 $16.0 Quebec $11.4 $2.5 $11.2 $10.2 $0.2 $0.7 $270 billion $9.5 Atlantic Provinces Manitoba & Saskatchewan % of 53.8% 19.4% 12.0% 6.8% 4.2% 3.8% portfolio 1 Sum of the parts might not add to 100% due to rounding 2 FICO® distribution for Canadian uninsured portfolio based on score ranges at origination. FICO is a registered trademark of Fair Isaac Corporation 3 LTV calculated based on the total outstanding balance secured by the property. Property values indexed using Teranet HPI data 4 Includes Wealth Management 67% Uninsured 24#25Automotive Finance • Canada's leader in automotive finance • Provide personal and commercial dealer financing solutions, in partnership with nine leading global automotive manufacturers in Canada ⚫ Portfolio decreased 2.2% year-over-year¹. Personal up 2.0%, Commercial down 28.8% Commercial 11% Near-Prime 7% Retail AVERAGE ASSET MIX $43.2B1 100% Secured 82% Prime Retail Exclusive Relationships MAZDA VOLVO POLESTAR RIVIAN JAGUAR/LAND ROVER Semi-Exclusive Relationships* HYUNDAI CHRYSLER GENERAL MOTORS TESLA * 1 to 2 other financial institutions comprise Semi-Exclusive relationships Market Share Prime Retail Market Share² Near-Prime Retail Market Share³ Commercial Floorplan Market Share4 35% 65% 70% 30% 73% 27% G Asset Growth $44.4B $43.5B $42.3B $39.7B $37.1B 2016 2017 2018 2019 2020 1 For the three months ended July 31, 2021; 2CBA data as of April 2021, includes RBC, BMO, TD, Scotiabank, CIBC, National Bank, Laurentian Bank, Canadian Western Bank, HSBC Canada; 3 DealerTrack Portal data, includes all Near-Prime Retail providers on Dealer Track Portal, data for July 2021 originations; 4 Includes BMO, CIBC, RBC, Scotiabank, TD, HSBC, Canadian Western Bank, Laurentian Bank, data as of December 2020 25#26Business Line Overview International Banking 26#27International Banking International Banking has a strong and diverse franchise with more than 10 million Retail, Corporate and Commercial customers. International Banking continues to offer significant potential for the Bank, with a geographical footprint encompassing the Pacific Alliance countries of Mexico, Colombia, Peru and Chile as well as Central America and the Caribbean. Business Mix Financial Results Adjusted Net Income³ ($MM) and NIMA (%) Residential Mortgages Business Loans 54% Asia Revenue 2% Mix¹ 78% Latin $2.4B America Auto' Credit Cards 2% 5% Loan Mix¹ $138B 20% 11% C&CA Personal Loans 28% $MM Q3/21 Y/Y² Q/Q² Reported Net Income³ $486 nmf 17% Pre-Tax, Pre Provision Profit $1,063 1% 1% Revenue $2,362 2% Expenses $1,299 4% PCLS $339 (71%) (11%) Productivity Ratio 55.0% 90 bps 60 bps Net Interest Margin4 3.72% (27 bps) (23 bps) 3.99% 3.97% 4.03% 3.95% 3.72% PCL Ratio5 100 bps (233 bps) (18 bps) PCL Ratio Impaired Loans5 208 bps 59 bps (73 bps) 493 398 429 53 283 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Adjusted4 Net Income³ Pre-Tax, Pre Provision Profit Expenses PCLS $493 nmf 17% $1,074 (2%) 1% $1,288 3% 4% $339 (71%) Medium-Term Financial Objectives Productivity Ratio 54.6% 230 bps (11%) 70 bps Target6 9%+ Net Income Growth Productivity Ratio Operating Leverage <50% Positive 1 For the 3 months ended July 31, 2021; 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; 4Net 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 27 27#28PAC Fundamentals Driving Growth Strong Governance Democratic countries with open economies Independent central banks with inflation- targeting regimes Free trade agreements and free-floating currencies • Business-friendly environments Sound Macro Environment • Diversified economies with strong GDP growth Resilience to economic and political cycles Relatively low debt/GDP ratios compared with OECD and emerging-market economies • Increasing adoption of banking services Favourable Demographics 229 million people with. median age of 30 years Rebounding domestic consumption • Increasing exposure to Asian growth markets Among the fastest growing smartphone markets in the world Considerable growth in middle class 28#29Scotiabank in Mexico Business Overview Customers ~3.1MM Corporate/ Commercial Residential Mortgages 23.7% Market Position by Loans4 Employees ~10,600 30% Branches1 528 14.9% 13.3% Average Loans $30B Loans $29.8B 10.1% 58% Personal Average 7.6% 7.0% 6% $30B Loans Deposits 2% 4% 3.8% Auto 2.2% Total NIAT 2,5 $557MM Credit Cards ROE³ 16.3% Retail 87% 13% BBVA B citibanamex 8 banregio BANORTE Loans Productivity³ 52.7% Secured Unsecured BBVA Banorte Santander Banamex Scotiabank HSBC Bajio Regio PTPP +14% CAGR 1,087 924 978 738 2017 Constant currency 2018 2019 2020 All figures in CAD$ including Wealth Management 1 Includes bank and wealth branches; does not include 177 Credito Familiar branches 2LTM Q3/21 3 Adjusted as Reported 4 Source: CNBV as of June 2021 5 Adjusted after NCI Productivity Ratio 58.6% 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 Residential Mortgages Market Position by Loans4 Customers¹ ~4.3MM Corporate/ Commercial 14% 33.6% Employees¹ ~10,500 Branches1 294 Personal Loans 21.7% 16.2% Average Loans $19B Loans $19.4B 21% 12.2% 59% Average $15B 3% Deposits 2% Credit Cards 0% Other Total NIAT 2,5 Auto $340MM BCP ROE³ 11.1% Retail Loans 41% 59% BCP BBVA BBVA Scotia Interbank Secured Unsecured Productivity³ 35.9% PTPP Productivity Ratio Operating Leverage +9% CAGR 39.3% 1,508 1,498 1,279 1,157 2017 Constant currency 2018 All figures in CAD$ including Wealth Management 1 Including subsidiaries 2LTM Q3/21 2019 2020 3 Adjusted as Reported 4 Market share as of June 2021. 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 Residential Mortgages 18.5% 17.0% 13.9% 13.8% 9.5% Customers¹ ~2.8MM Corporate/ Commercial Employees ~7,900 Branches1 131 Average Loans 38% 45% Loans $46.1B $46B Average $23B 0% Deposits 12% 5% Personal Loans Total NIAT 2,5 $549MM Auto Credit Cards ROE³ 10.0% Retail 80% 20% Loans Productivity³ 43.3% Secured Unsecured PTPP 789 535 2017 2018 急 X Itaú Santander Chile Scotiabank BCI Itaú Productivity Ratio +30% CAGR 49.5% 1,202 1,185 2019 2020 Constant currency All figures in CAD$ including Wealth Management 1 Includes affiliates & consumer microfinance 2 LTM Q3/21 3 Adjusted as Reported 4 Market share as of June 2021, includes only private banks, Source: CMF 5 Adjusted after NCI Operating Leverage 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 Customers¹ Employees ~2.7MM Corporate/ ~6,400 Commercial Residential Mortgages 26.0% 18% Branches 152 Average Loans $10B 48% Loans $10.5B 18% Personal Loans Average $9B Deposits 16% 0% Total NIAT 2,6 $57MM Credit Cards Auto ROE³ 4.5% Retail 38% 62% Loans Productivity³ 60.5% Secured Unsecured PTPP Market Position by Loans4 16.6% 12.4% 10.3% 6.2% 5.4% 4.2% ▸ BBVA 1 Bancolombia Davivienda Bogotá 5 BBVA Occidente Scotiabank Popular5 Productivity Ratio +3% CAGR 664 460 519 507 54.5% 53.4% 52.6% 2017 Constant currency 2018 All figures in CAD$ including Wealth Management 1 Includes affiliates & consumer microfinance 2 LTM Q3/21 3 Adjusted as Reported 2019 2020 4 Market share as of May 2021 5 Members of AVAL Group: Banco de Bogotá, Banco de Occidente, Banco Popular and Banco AV Villas. 6 Adjusted after NCI Colpatria Operating Leverage 59.8% -1.8% -2.4% -6.4% -7.6% 2017 2018 2019 2020 2017 2018 2019 2020 32 32#33Other Regions Leading Caribbean & Central American franchise Caribbean & Central America Asia • • Leading bank serving retail, commercial and corporate customers Major markets include the Dominican Republic, Jamaica, Trinidad & Tobago, Costa Rica, Panama and The Bahamas Sharpened geographic footprint by exiting higher risk, low growth jurisdictions including Haiti, El Salvador, Puerto Rico, US Virgin Islands, British Virgin Islands, Belize and 8 of the Leeward Islands Dominican Republic: #4 bank Acquired Banco Dominicano del Progreso in 2019 China: ~18% interest in Bank of Xi'an CAD $945MM carrying value as of July 31, 2021 • Bank of Xi'an reported $511MM of net income for the twelve months ended October 31, 2020, of which Scotiabank's share is 18% 33#34Business Global Wealth Line Overview Management 34 =4#35Global Wealth Management 3rd Largest Wealth Management Business in Canada' Global Wealth Management is focused on delivering comprehensive wealth management advice and solutions to clients across Scotiabank's footprint. Business Overview² 11% 10% Revenue $1.3B 89% International AUM $344B 90% Canada Adjusted Net income 3,4 ($MM) and ROE³ (%) Financial Results 18% AUA $587B $MM, except AUM/AUA Reported Q3/21 Y/Y Q/Q 82% 17.9% 16.7% 16.8% 14.3% 14.3% 425 62 332 333 363 378 397 Net Income4 $390 21% 5% Pre-Tax, Pre Provision Profit $523 20% 3% Revenue $1,335 18% 2% Expenses $812 16% 1% PCLs ($1) nmf nmf Productivity Ratio 60.9% (80 bps) (40 bps) AUM ($B) $344 17% 4% AUA ($B) $587 17% 3% Adjusted² Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Ex. Performance Fees Performance Fees Medium-Term Financial Objectives Net Income Growth Target5 8%+ Net Income4 $397 19% 5% Pre-Tax, Pre Provision Profit $531 18% 3% Expenses $804 17% 1% Productivity Ratio 60.2% (10 bps) (40 bps) Productivity Ratio Operating Leverage <65% Positive 1 Based on Total Net Income for publicly traded banks in Canada for the fiscal year ended October 31, 2020; 2 Figures as of July 31, 2021 or for the 3 months ended July 31, 2021; 3 Refer to Non-GAAP Measures on slide 80 for adjusted results; 4 Attributable to equity holders of the Bank; 53-5 year target from 2020 Investor Day 35#36Global Wealth Management #1 in revenue growth1 | #2 in AUA and AUM growth1 | #2 in Retail Mutual Fund net sales in Canada¹ 3rd Largest Wealth Management Business in Canada¹ Investment Management A broad selection of actively managed investment solutions from our innovative manufacturing platform. Mutual Funds ETFs Pooled Funds Segregated Portfolios Institutional Asset Management Distribution Channels A powerful advisory and distribution network across Canada and Latin America. Private Investment Counsel Full-Service Brokerage Private Banking Trust Services Online Brokerage Retail Bank Branch Network Mobile Advice Team 3rd Party Distributors Scotia Funds. Dynamic Funds JARISLOWSKY FRASER Scotia MD Wealth Management. MD Financial Management 1 Figures for the 6 months ended April 30, 2021 Scotia iTRADE, Scotiabank. Branch mobile advice team 36#37Global Wealth Management Strong investment performance, increasing scale • Market-Leading Capabilities Award-Winning Investment Management Dynamic Funds ranked #1 among independent mutual fund companies, for 5-year returns ⚫ Scotia GAM ranked #2 for retail mutual fund net sales among banks FYTD • Scotia GAM won 20 Lipper Fund Awards and 41 FundGrade A+ awards (Dynamic Funds & Scotia Funds) Mexico Asset Management awarded Morningstar's best Asset Manager in the Balanced Funds category Chile Asset Management received 6 Premios Salmon mutual fund awards ⚫ Chile Asset Management awarded Best International Funds manager Tailored Advice Largest Private Investment Counsel business in Canada (SWM, MD, JFL, PIC) 2021 World's Best Private Banks awards in Peru and Bahamas (Global Finance) Two Captive International Cayman awards for the Bank of the Year and Letters of Credit and Trust Provider of the Year #2 Bank-Owned Brokerage Firm (Investment Executive Brokerage Report Card, 2021) AUM • Chile's Scotia Futuro Mutual Fund won the Salmon award from LVA Indices +11% CAGR AUA +6% CAGR Investment Performance Highlights¹ of assets in the top two quartiles over % five-year period - 1832 Asset Management 68% 69% of core funds in the top two quartiles over five-year period - Jarislowsky Fraser 292 502 404 193 2016 2020 2016 2020 1 June 2021 37 37#38Business Line Global Banking Overview and Markets 38#39Global Banking and Markets Global Banking and Markets (GBM) provides corporate clients with lending and transaction services, investment banking advice and access to capital markets. GBM is a full service wholesale bank in the Americas, with operations in 21 countries, serving clients across Canada, the United States, Latin America, Europe and Asia-Pacific. Business Overview Asia Financial Results Canada 4% Europe 7% Global 54% Equities Business Banking $MM 52% Geographic Revenue¹ 21% Revenue By Business Line¹ Reported $1.3B $1.3B 35% US 27% FICC Q3/21 Y/Y Q/Q Net Income² $513 (14%) (1%) Pre-Tax, Pre Provision Profit $633 (32%) 1% Revenue $1,253 (19%) Expenses $620 (2%) Adjusted Net Income ²,³ ($MM) and ROE³ (%) 2,3 PCLS ($27) nmf (37%) Productivity Ratio 49.5% 940 bps (80 bps) 17.5% 17.3% 17.4% 16.1% 14.6% PCL Ratio4 (11 bps) (61 bps) 7 bps PCL Ratio Impaired Loans4 3 bps (10 bps) (2 bps) 600 517 460 543 513 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Medium-Term Financial Objectives Target5 Net Income Growth Productivity Ratio Operating Leverage ~5% ~50% Positive 1 TEB Revenue for the 3 months ended July 31, 2021. Note GBM Latam revenue contribution is reported in International Banking results; 2 Attributable to equity holders of the Bank; 3 Refer to Non-GAAP Measures on slide 80 for adjusted results; 4 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures; 53-5 year target from 2020 Investor Day 39#40GBM in US and Latam Delivering the full bank to meet our Americas clients' needs Wholesale bank in the US: Corporate & Investment Banking, Capital Markets, US1 Revenue • Latam¹ Cash Management and Trade Finance $443 million $375 million Top 10 foreign bank organization (FBO) in the US $38 billion Average Loans $42 billion Client list focused on S&P $89 billion Average Deposits $22 billion $190 million Total NIAT $182 million • 500, investment grade corporates Current sectors of strength include: Power & Utilities and Energy. Focus areas for growth include Consumer /Industrial/Retail (CIR), Technology and Healthcare 50.4% 5 Productivity Offices 28.4% 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 vestɅ Follow-on offering on the Mexican Stock Exchange (BMV) US$229,000,000 Joint Bookrunner 2021 KKR Acquisition of a 60% stake in Telefonica Colombia Fiber Assets US$500,000,000 PetroRio Acquisition of interest in the Wahoo field from Pe TotalEnergies Confidential Financial Advisor Financial Advisor 2021 2021 raízen Initial Public Offering on the São Paulo Stock Exchange (B3) + Rule 144a & Reg S US$1,144,000,000 Joint Bookrunner 2021 I SQUARED CAPITAL Acquisition of KIO KIO Networks Confidential Financial Advisor 2021 Divestiture of Argentine subsidiary to CGC Confidential Financial Advisor 2021 1 Figures for fiscal Q3/21 40#41Risk Overview 41#42Risk Snapshot RWA Breakdown¹ Credit Exposure by Country 2,3 Credit Exposure by Sector 1,2 ■ Credit Risk 66% ■Canada ■ Chile ■ U.S. Real Estate and Construction Financial Services 6.7% 4.4% 2% Wholesale and Retail 4.0% 4% $414B 86% ■ Operational Risk $615B1 12% 4% 5% ■ Other International ■Mexico Other 2.9% Utilities 2.6% ■Market Risk 5% ■ C&CA Agriculture 2.5% 7% 7% ■ Peru Technology and Media 2.4% ■ Colombia Energy 1.7% Canadian Banking 1,2 Personal & Commercial Lending International Banking1,2 Automotive 1.6% Food and Beverage 1.5% Transportation 1.4% Health Care 0.9% Sovereign 0.8% ■ Secured 71% ■ Secured Hospitality and Leisure 0.7% 6% $349B $63B Mining 0.8% 94% Metals 0.4% ■ Unsecured 29% ■ Unsecured Forest Products Chemicals 0.2% 0.3% 1 As at July 31, 2021 2% of total loans and acceptances 3 As at October 31, 2020 42 42#43Credit Quality GILS ($MM) AND GIL RATIO¹ 81 bps 81 bps 84 bps 81 bps 73 bps 5,148 26 209 5,053 26 302 5,279 39 33 5,116 28 224 4,735 -286 1,209 1,049 1,067 235 1,040 921 3,704 3,676 3,949 3,757 3,551 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 NET WRITE-OFFS ($MM)² AND NET WRITE-OFFS RATIO³ HIGHLIGHTS GIL ratio improved 8 bps driven by low formations across all business lines GIL ratio is now below pre-pandemic levels HIGHLIGHTS 76 bps 62 bps Lower write-offs Q/Q 47 bps 41 bps 43 bps 1,141 13 . Significant reduction in International Banking 219 983 1 173 8 750 1 33 632 674 -25 266 -26 201 227 910 801 450 379 448 Q3/20 Q4/20 Q1/21 Q2/21 (1) Q3/21 Write-offs in Canadian Banking and Global Banking and Markets are well below historical averages International Banking Canadian Banking Global Banking and Markets Global Wealth Management 1 As a percentage of period end loans and acceptances 2 Net write-offs are net of recoveries 3 As a percentage of average net loans and acceptances 43#44Credit Performance TOTAL ACLs ($MM) AND ACL COVERAGE RATIO1 125 bps 125 bps 116 bps 109 bps 96 bps 7,820 7,810 7,403 181 220 182 6,893 1,957 -177 6,232 1,994 1,776 153 1,938 1,759 5,445 5,682 5,596 4,778 4,320 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Performing Loan ACLs Impaired Loan ACLS Other² 136 bps TOTAL PCLs ($MM)³,4 AND PCL RATIO • HIGHLIGHTS $6.2 billion in total ACLs (22% above pre-pandemic levels) Performing loan ACLs decreased 10% from the prior quarter Total ACLS represents ~9 quarters of net write-offs Total ACL coverage ratio of 96 bps (vs 82 bps pre-pandemic) • 73 bps 2,181 149 -2 49 bps 33 bps • 24 bps 752 1,131 3 330 62 764 4 496 1,278 215 20 380 .69 145 736 525 396 (2) 339 (1) (43) (27) Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Canadian Banking Global Banking and Markets Other4 HIGHLIGHTS Total PCL ratio of 24 bps decreased 112 bps Y/Y and 9 bps Q/Q The Q/Q improvement was driven by lower impaired PCLs in International and Canadian Banking International Banking 1 ACL coverage ratio defined as period end total ACLs (excluding debt securities and deposits with financial institutions) divided by gross loans and acceptances 2 Includes ACLs on off-balance sheet exposures and ACLs on acceptances and other financial assets 3 Includes provision for credit losses on other financial assets in International Banking (Q1/20: -$1 million, Q2/20: $1 million, Q4/20: -$1 million), in Global Banking and Markets of $1 million (Q3/20: $1 million, Q4/20: $1 million), in Global Wealth Management (Q3/20: -$1 million) and in Other (Q1/20: $1 million, Q2/20: -$2 million, Q4/20: $2 million) 4 Other includes provisions for credit losses in Global Wealth Management of -$1 million (Q2/20: $2 million, Q3/20: $1 million, Q4/20: $3 million, Q1/21: $4 million, Q2/21: -$2 million) 44 44#450.50% 0.40% 0.30% 0.19% 0.20% 0.10% 0.00% 2007 3.00% 2.50% 2.00% 1.50% 1.00% 0.44% 0.50% 0.25% 0.00% 2007 2008 2009 0.90% 1.00% 2010 2010 2011 2008 2009 0.80% 0.60% 0.40% 0.20% 0.12% 0.00% 0.24% 2007 2008 2009 2010 0.23% 0.37% 0.35% 0.28% 2010 -Average (2007 - Q3/21) 1 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures 2012 2013 2013 2011 0.59% Historical PCL Ratios on Impaired Loans ALL BANK¹ 0.56% 0.50% 0.47% 0.49% 0.49% 0.45% 0.34% 0.36% 0.40% 0.42% 0.43% 0.32% 2013 2013 CANADIAN BANKING' 0.28% 0.29% 0.23% 0.23% 0.23% 0.24% 0.18% INTERNATIONAL BANKING¹ 2017 1.27% 1.24% 1.26% 1.21% 1.29% 1.30% 0.86% 0.75% 0.75% 2014 Q1/21 2018 1.49% 1.50% Q2/21 Q3/21 45 45 0.29% Q1/21 2019 0.32% 2020 Q1/21 Q2/21 0.23% 0.27% 0.14% Avg: 26 bps Q2/21 2.81% 2.08% Avg: 120 bps Q3/21 Q3/21 0.80% 0.53% Avg: 44 bps#46Canadian Retail: Loans and Provisions' MORTGAGES AUTO LOANS 216 224 106 91 99 39 89 78 81 35 96 84 85 94 99 105 1 1 0 0 1 4 2 4 2 1 1 1 1 1 00 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 LINES OF CREDIT² Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 CREDIT CARDS 169 164 1,002 896 80 72 87 79 62 70 385 381 445 400 410 322 288 33 70 73 74 65 60 57 32 379 377 401 312 321 310 204 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 PCL as a % of avg. net loans (bps) Loan Balances Q3/21 Mortgages Spot ($B) $270 % Secured 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 $8 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 Q1/21 Q2/21 Q3/21 PCLs on Impaired Loans as a % of avg. net loans (bps) Auto Loans Lines of Credit² Credit Cards Total $40 100% $32 $6 $3493 64% 2% 94%4 46#47International Retail: Loans and Provisions MEXICO 550 591 CHILE CARIBBEAN & CENTRAL AMERICA 556 Markets with Greater 428 279 321 457 329 280 191 246 228 181 248 Impaired Avg. 160 238 Weighting to 251 250 267 276 bps 253 243 154 175 190 Impaired Avg. 142 bps 81 67 58 Impaired Avg. 234 bps 326 300 261 221 187 178 205 179 Secured 163 87 62 231 221 204 216 54 70 165 170 195 170 1 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 1 Markets with Greater Weighting to Unsecured PERU 2,436 COLOMBIA 1,552 1,588 1,338 Impaired Avg. 664 bps Elevated impaired PCLs in Peru and Colombia are driven by the expiry of deferral programs and the higher unsecured balances. This has been appropriately provided for in prior quarters. 939 Impaired Avg. 906 bps 1,290 1,322 1,152 970 1,194 473 471 738 471 439 361 579 1,065 542 143 764 726 636 361 470 395 424 Q4/19 Q1/20 Q2/20 Q3/20Q4/20 Q1/21 Q2/21 Q3/21 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 420 406 385 245 287 PCL as a % of avg. net loans (bps) PCLs on Impaired Loans as a % of avg. net loans (bps) Average Impaired PCL % (Q4/19-Q3/21) Loan Balances Q3/21 Mexico Peru Chile Colombia Caribbean & CA Total² Secured ($B) $11 $3 $20 $2 $9 $45 Unsecured ($B) $2 $5 $5 $3 $2 $18 Spot Total ($B) $13 $8 $25 $5 $11 $63 47 1 PCL excludes impact of additional pessimistic scenario 2 Total includes other smaller portfolios#48Sectors Most Impacted by COVID-191 Most Impacted Sectors as a % of Total Loans Canada Real Estate: Office and Retail C&CA 9% $B %IG 4.1% Mexico 4.0% 4.0% 3% Office REIT 1.2 72% 3.6% 3.5% U.S. 5% $9.2B 59% Office Real Estate 3.8 54% 12% (1.4% of total loans) Other Retail REIT 1.1 98% Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 1% Retail Real Estate 3.0 45% Europe 12% Latin America Total² 9.2 59% Europe Canada Hospitality and Leisure Other 1% 31% $B %IG Total Loans $650.9B Energy E&P and Oilfield Services: 1.1% Real Estate Office and Retail: 1.4% 10% Hotels 3.5 17% $4.5B = Cruise Lines 0.3 0% (0.7% of total loans) 17% Transportation - Air 28% C&CA Gaming 0.7 1% Travel: 0.3% U.S. Total² 4.5 13% 4% Hospitality and Leisure: 0.7% 9% Mexico Latin America Transportation: Mexico Canada 17% Latin America 6% 6% Air Travel $B %IG Total COVID-19 High Impact: 3.5% C&CA 8% $2.1B Aircraft Finance 0.7 96% (0.3% of total loans) Airlines 0.3 3% 15% 48% Airports 1.1 45% Other Europe Total² $2.1 57% 48 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#49Treasury and Funding 49 49#50Highlights Strong liquidity, stable funding • Liquidity well in excess of regulatory requirements o LCR of 123%, down 6% Q/Q and down 18% Y/Y o HQLA of $195B, -$6B Q/Q and -$32B Y/Y, is substantially comprised of Level 1 assets o Pacific Alliance countries LCRs of 145% - 153% • Stability of funding reflected in NSFR of 112% ⚫ 25.3% TLAC is above 24% regulatory minimum required by November 1, 2021 Wholesale funding metrics are favourable o Wholesale funding of $206B, up $13B Q/Q and down $15B Y/Y o Wholesale funding / total assets increased modestly Q/Q to 17.7% from 17.1% o Wholesale funding usage driven by recovery in asset growth, partially offset by deposit retention 50 50#51Funding 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 12 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 51#52Wholesale Funding Wholesale funding diversity by instrument and maturity1,6,7 19% Senior Notes 19% Bail-inable Notes -1% Asset-Backed Securities -14% Covered Bonds Asset-Backed Commercial Paper³ 2%- 28% Bearer Deposit Notes, Commercial Paper & Short-Term Certificate $206B 1% Deposits from Banks² of Deposits TERM FUNDING MATURITY TABLE (EXCLUDING SUB DEBT AND MORTGAGE SECURITIZATION) (CANADIAN DOLLAR EQUIVALENT, $B) $27 7 $20 7 $18 $26 3 12% Mortgage Securitization4 -4% Subordinated Debt5 12 12 19 4 $11 3 $7 13 3 7 4 23 < 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 Q3/21. 7 May not add to 100% due to rounding. 52 52#53Deposit Overview Strong growth in business and government deposits PERSONAL DEPOSITS (SPOT, CANADIAN DOLLAR EQUIVALENT, $B) $250 $247 $244 • $246 $247 $222 $223 $224 $235 $211 $225 $225 $215 3Y CAGR 5.5% Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 BUSINESS & GOVERNMENT DEPOSITS1 (SPOT, CANADIAN DOLLAR EQUIVALENT, $B) $305 $288 $270 $221 $227 $197 $263 $274 $285 $179 $223 $197 $211 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 3Y CAGR 19.4% Q3/21 PERSONAL DEPOSITS Important for both relationship purposes and regulatory value • BUSINESS & GOVERNMENT Continuing to leverage relationships to grow deposits • Focusing on deposits with 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. Excludes Financial Institution deposits. 53#54Q3/18 Q4/18 Q1/19 35.6% Q3/18 Q4/18 Q1/19 Wholesale Funding Utilization Maintaining low reliance on wholesale funding WHOLESALE FUNDING / TOTAL ASSETS 24.2% 23.1% WHOLESALE FUNDING UTILIZATION WELL MANAGED • Wholesale funding usage driven by recovery in asset growth, partially offset by deposit retention Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 MONEY MARKET WHOLESALE FUNDING / TOTAL WHOLESALE FUNDING 39.7% Q4/20 29.8% 31.2% Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 18.9% Q1/21 Q2/21 Q3/21 17.7% MONEY MARKET FUNDING CONTINUES TO BE SUBDUED Prudent utilization of short-term funding 54#55• Key Metrics Well-funded with strong liquidity and stable funding Liquidity Coverage Ratio (LCR) o Liquidity well in excess of regulatory requirements o LCR of 145-153% in Pacific Alliance countries 141% 138% 132% 123% 125% 127% 129% 129% 123% Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 • High Quality Liquid Assets (HQLA) 。 Substantially comprised of Level 1 assets o Continued moderation from high levels; -$6B Q/Q and -$32B Y/Y $227 $210 $213 $201 $195 $188 $160 $165 $168 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 ⚫ Net Stable Funding Ratio (NSFR) o Public disclosure began Q1/21 o NSFR is well in excess of 100% regulatory requirement 115% 112% 112% Q1/21 Q2/21 Q3/21 55#56Appendix 1 Core Markets: Economic Profiles#57Economic Outlook in Core Markets Real GDP Growth, Actuals and Consensus Forecast (2021-22) Real GDP (Annual % Change) 2010-19 Country 2020 2021F1 2022F1 Average Canada 2.2 -5.3 6.2 4.2 U.S. 2.3 -3.4 6.2 4.3 Mexico 2.7 -8.3 5.9 3.0 Peru 4.5 -11.1 9.9 4.1 Chile 3.3 -5.8 8.1 3.0 Colombia 3.7 -6.8 6.3 3.8 PAC Average¹ 3.6 -8.0 7.6 3.5 Source: Bloomberg, as of August 20, 2021 1 Simple average. 57 57#58COVID-19 Response in Core Markets United Canada Mexico Peru Chile Colombia Policy Action Policy Rate Cuts¹ States 150 bps 150 bps 300 bps¹ 200 bps¹ 125 bps¹ 250 bps (March 1, 2020 - June 1, 2021) Current Policy Rate 0.25% 0.25% 4.50% 0.50% 0.75% 1.75% 2021 Nominal Neutral Rate² 2.00% 2.00% 6.00% 3.50% 3.50% 4.85% Fiscal & Financial Measures 17.5% 22.3% 0.7% 20.0%³ 34.6%³ 2.8% (% of GDP) Liquidity program Wage and payroll Selected support programs Key Measures Payment deferral programs Small business and sectoral programs Vaccine Coverage4 825% 443% 144% 204% 253% 67% (% of possible population covered) Vaccine Deployment5 135.10 105.61 57.22 46.01 137.50 60.22 (Vaccine doses administered per 100 people) COVID-19 Incidence Rate5 (Cumulative confirmed cases per 100k people) 3,850 10,934 2,343 6,456 8,503 9,536 Sources: Scotiabank Economics, Duke University, Johns Hopkins University, Our World in Data and national reports as of August 12, 2021, unless otherwise indicated. 1 As of August 12, 2021, in Mexico, Chile and Peru, respectively, 50 bps, 25 bps and 25 bps of these cuts had been rolled back. Further rate increases are expected across the PACs during the remainder of 2021. 2 Canada, US, Colombia: Scotiabank Economics estimates; Mexico, Peru, Chile: central bank estimates. 3 Includes pension withdrawals and deposit relief. 4 Internationally comparable Duke University data adjusted for national reports; excludes doses via COVAX. Colombia includes public and private donations. 5 As of August 11, 2021. Source: Our World in Data. 58#59Pacific Alliance: Economic Outlook and Election Calendar GDP Recovering in Pacific Alliance 105 index Q4-2019-100, 4-qtr. rolling sum 100 95 95 00 90 85 2020 Chile Colombia 2021 Sources: Scotiabank Economics, Haver Analytics. Forecasts for PAC countries as of the August 13, 2021 Latam Weekly. F Presidential Runoff Chamber of Deputies, Governs. & Local Mexico Peru 2022 Elections in the Region Pres., Leg. & Reg. Advisory - Primary Pres., Leg. & Reg. Advisory General Presidential Runoff Proposed Const. Ratification Vote Regional & Municipal Presidential & Legislative Jun. 2021 Jul. 2021 Nov. 2021 Dec. 2021 2022 59#60Canadian Economy Diverse sources of growth with a strong balance sheet 20.9% Finance, Insurance, & Real Estate 14.0% Other 3.6% Transportation & Warehousing 6.3% Professional, Scientific, & Technical Services 7.0% CANADIAN GDP BY INDUSTRY (May 2021) Public Administration GDP Growth 2021F: 6.2% -12.6% Real GDP Growth Health & Education 10.5% Wholesale & Retail Trade 7.5% 9.5% Manufacturing 8.1% Mining and Oil & Gas Extraction Construction GDP Growth 2022F: 4.2% 3 N ANNUAL % CHANGE C ■ILLL U.S. Canada Eurozone 2020-2022F U.K. Japan 2010-2019 Sources: Scotiabank Economics, Haver Analytics, Statistics Canada. Forecasts as of Jul 23, 2021. General Government Net Debt in 2020 % OF GDP 91 50 33 Canada Germany OECD Sources: Bloomberg, as of August 20, 2021 Government Financial Deficits in 2020 0 (4.2) -5 (9.5) (9.9) -10 (11.7) (12.6) (13.4) 169 (15.8) 142 (16.1) -15 546 103 104 94 -20 24 % OF GDP -25 GE IT FR U.K. U.S. France Italy Japan Adv. Econ. JN U.K. U.S. CA* * Canadian federal deficit reflects Scotiabank Economics' forecast as of Jul 23, 2021. Sources: Scotiabank Economics, IMF Fiscal Monitor (April 2021 estimates), CBO. 60#61Mexican Economy Solid mix of sectors Manufacturing and primary producers have so far led the recovery, but into H2-2021 services are expected to contribute more strongly. Trade with the U.S. is leading growth, but Mexico's diversification agenda is also underpinned by 15 free-trade agreements with 52 countries that account for 43% of global GDP and include all G7 countries. The authorities' fiscal and debt indicators remain reasonable; efforts to boost tax collection could continue to be implemented. GDP Growth 2021F: GDP Growth 2022F: 3.0% 5.9% Sources: Bloomberg, as of August 20, 2021 Contributions to Mexican GDP Growth 16.5% Finance, Insurance, & Real Estate 15.4% Other 3.4% Natural Resources 5.8% Transportation & Warehousing 6.2% Health & Education MEXICAN GDP BY INDUSTRY* (Q1-2021) 1.9% Professional, Scientific, & Technical Services 4.1% Public Administration 17.9% Wholesale & Retail Trade 16.3% Manufacturing 6.4% Mining and Oil & Gas Extraction 6.1% Construction * Q2-2021 real GDP growth 19.7 y/y. Industry GDP breakdown not yet available for Q2-2021. Top 5 Trading Partners* 8 6420246 [ y/y % change -2 -4 -6 -8 -10 Other* -12 Inventories -14 -16 Government Real GDP Net Exports Investment Consumption -18 -20 17 18 19 *Statistical discrepancy, subject to revision. Sources: Scotiabank Economics, Haver Analytics. 20 21 22 Others 19% South Korea 3% United Germany 3% Canada 4% States 60% China 11% * Trade data updated as of Q1-2021. 61#62Peruvian Economy Resilient economic fundamentals 11.5% Mining, Oil, & Gas 6.8% Construction 2.0% Electricity & Water 5.1% Natural Resources Peru's important resource sectors are increasingly balanced by stronger service-sector activity and solid economic fundamentals. Peru has 18 free-trade agreements with 52 countries that account for 66% of global GDP. Government spending and transfer programs are helping to bolster a return to growth in 2021 and 2022. 12.9% Manufacturing 11.0% Finance, Insurance, & Real Estate PERUVIAN GDP BY INDUSTRY (Q1-2021) 19.5% 31.2% Other Transportation & Warehousing GDP Growth 2021F: 9.9% GDP Growth 2022F: 4.1% Sources: Bloomberg, as of August 20, 2021 Contributions to Peruvian GDP Growth Top 5 Trading Partners* 15 y/y % change 10 5 -5 -10 -20 -25 -30 ༄༅༞༠Ş ཋ ྣ ཏྭ ༞ ? -15 Net Exports Investment -35 17 Inventories Consumption I Government Real GDP 18 19 20 20 Sources: Scotiabank Economics, Haver Analytics. 21 21 Others 43% China 28% South Japan Canada 5% United States 16% Korea 4% 4% * Trade data updated as of Q1-2021. 62 62#63Chilean Economy Advanced economy with wide-ranging trade links • Chile's mix of economic activities reflects its status as an advanced OECD economy. Chile's diversified trading relationships are supported by 26 free-trade agreements with 60 countries that account for 74.3% of global GDP. Public support for households and businesses has powered a strong rebound in consumption. GDP Growth 2021F: 8.1% GDP Growth 2022F: 3.0% Sources: Bloomberg, as of August 20, 2021 Contributions to Chilean GDP Growth 40 40 y/y % change 15.4% Finance, Insurance, & Real Estate 9.1% Other 1.6% Restaurants & Hotels 7.9% Transportation & Warehousing 3.4% Natural Resources CHILEAN GDP BY INDUSTRY (Q2-2021) 18.1% Housing & Personal Services 10.7% Wholesale & Retail Trade 10.5% Manufacturing 12.8% Mining and Oil & Gas Extraction 5.7% Construction 4.8% Public Administration Top 5 Trading Partners* 30 20 10 10 0 -10 Net Exports Investment -20 Consumption -30 17 18 Inventories Government Real GDP 19 Sources: Scotiabank Economics, Haver Analytics. 20 20 Others 34% China 35% South Korea 4% Japan 5% Brazil United States 6% 16% 63 * Trade data updated as of Q1-2021.#64Colombian Economy Strong underlying momentum • The 'new normal' re-opening scheme has led to reactivation of 95% of the economy. Colombia continues to build on its 12 free-trade agreements with 46 countries that account for 41.7% of global GDP. Services and consumption, reflecting an expanding middle class, account for rising shares of Colombian GDP compared with traditional strengths in extractive industries. GDP Growth 2021F: Sources: Bloomberg, as of August 20, 2021 6.3% GDP Growth 2022F: 3.8% 14.5% Finance, Insurance, & Real Estate 8.9% Other 6.6% Natural Resources 3.4% Arts & Entertainment 16.0% Wholesale, Retail Trade, Accommodation & Food Services 3.0% Information & Communication COLOMBIAN GDP BY INDUSTRY (Q2-2021) 7.2% Professional, Scientific, & Technical Services 16.3% 11.9% Manufacturing 7.3% Mining and Oil & Gas Extraction 4.9% Construction Public Administration Contributions to Colombian GDP Growth 10 2505o y/y % change 15 - -5 -10 Other* Net Exports -15 Investment Government -20 Consumption Real GDP -25 17 18 19 *Statistical discrepancy, subject to revision. Sources: Scotiabank Economics, Haver Analytics. 20 20 Top 5 Trading Partners* United States Others 28% 40% India China 19% 3% Brazil Mexico 5% 5% * Trade data updated as of Q1-2021. 64#65Appendix 2 Canadian Economic Fundamentals#66Consumer and Business Activity Business Confidence - CFIB Business Barometer 80 index, 50 stronger 70 60 60 50 50 40 40 30 20 11 12 13 14 Sources: Scotiabank Economics, CFIB. Key Economic Indicators 180 index, Feb 2020 levels = 100 160 140 3-month moving 120 average 100 80 60 40 Headline index 6-month moving average 15 16 17 18 19 20 21 Canada Auto Sales mn, saar units 2.0 1.8 1.6 1.4 1.2 1.0 0.8 0.6 20 ►Feb-20 Mar-20- Apr-20- May-20- Jun-20- Jul-20- Aug-20 Sep-20- Oct-20- Nov-20- Auto Sales Mfg Shipments Exports Housing Starts Retail Sales Sources: Scotiabank Economics, Bloomberg. Dec-20- Jan-21- Feb-21- Mar-21- Canada Real Retail Sales 120 Feb 2020=100 110 100 90 80 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. 70 Apr-21- May-21- Jun-21- Jul-21- Employment Manufacturing PMI Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Sources: Scotiabank Economics, Statistics Canada. 66#67Housing Market Population Growth Housing Market Supply Conditions 2.0 annual % change Canada United States 1.10 Ratio of total home completions on 18- Euro Area Japan United Kingdom 1.00 month rolling basis relative to Italy population change 1.5 0.90 0.80 1984-present avg. 1.0 0.70 0.60 0.5 0.50 0.0 0.40 0.30 -0.5 08 09 10 11 12 13 14 15 16 17 18 19 20 21 Sources: Scotiabank Economics, Haver. Housing: Sales-to-Listings Ratio 91 85 88 94 97 00 03 Sources: Scotiabank Economics, Statistics Canada. 06 09 12 15 18 21 Government Support of Households 2.5 arrears rate, % 100 sa sales-to-new listings ratio, % 90 2.0 80 70 1.5 60 50 1.0 10 40 30 0.5 20 10 0.0 0 20 88 90 92 94 96 98 00 02 04 06 08 10 12 14 16 18 20 Sources: Scotiabank Economics, CREA. 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. 20 67#68Growth in Household Credit • Total household credit, in annual nominal terms, has slowed considerably since the 2007 peak of 13.4% y/y. However, Q1-2021 growth of 5.1% y/y is the fastest pace of expansion since Q3-2017. • Consumer loans excluding mortgages (i.e., cards, HELOCS, unsecured lines, auto loans, etc.) fell by 0.7% y/y in Q1-2021. Consumer loan growth has trended downward since late-2000 highs of over 16.6% y/y, with negative growth in recent months induced by consumer spending pullbacks. Mortgage credit grew at 7.3% y/y in Q1-2021 vs the 2007 peak of 13.7% y/y. Underlying demand coupled with lower five-year rates drove a rebound in the pace of growth. Household Credit Growth 20 %, 3-month moving average yly% 15 change 10 m/m% 5 change, SA 0 01 03 05 07 09 11 13 15 17 19 Sources: Scotiabank Economics, Statistics Canada. T 21 21 Consumer Loan Growth Residential Mortgage Growth %, 3-month moving average yly% change 20 %, 3-month moving average 15 yly% change 15 10 22505052 12 -5 -10 -15 10 m/m% change, SA 5 m/m% change, SA -20 01 03 05 07 09 11 13 15 17 19 21 Sources: Scotiabank Economics, Statistics Canada. 01 03 05 07 09 11 13 15 17 Sources: Scotiabank Economics, Statistics Canada. 19 21 68#69Appendix 3 Bail-in and TLAC#70Canadian Bail-in Regulations: Key Features Best in class approach Post September 23, 2018, senior unsecured debt issued by Canadian DSIBS that is subject to bail-in is the only format of issuance available¹ and is a single class of debt2 that is not subordinated to another class of wholesale senior debt Canadian bank term senior unsecured debt is not structurally, statutorily or contractually subordinated to another class of senior liabilities and therefore ranks equally to deposits and other senior liabilities in liquidation Canada utilizes a statutory bail-in regime where, unlike the contractual regime of Canadian NVCC capital instruments, bail-in conversion terms are not prescribed. CDIC retains flexibility to exercise the bail-in power in a manner that is appropriate given the circumstances at the time and subject to certain parameters. In the remote event of non-viability, the no creditor worse off principle ensures that bailed-in senior creditors do not incur greater losses through resolution than liquidation. The CDIC compensation regime floors recovery at the liquidation value. • The bail-in regime provides for a relative hierarchy of claims. Creditors receive common shares in accordance with their relative rankings. 1 Excludes structured notes as defined in section 2(6) of the Bank Recapitalization (Bail-in) Conversion Regulations under the CDIC Act 2 Ranks pari passu with other forms of senior debt, except as otherwise prescribed by law and subject to the exercise of bank resolution powers 70 0#71Canadian Bail-in Regulations: Jurisdictional Comparison Best in class approach K Instrument type Opco senior Holdco senior Holdco senior¹ Holdco senior Opco non- preferred senior Ranking in Liquidation Pari passu with deposits and other senior liabilities Structural subordination² Structural subordination² Structural subordination² Contractual subordination² Senior Other debt Deposits senior subject liabilities to Subordination schematic bail-in Capital Deposits Opco senior/senior preferred / other senior liabilities Holdco senior / senior non-preferred Capital Depositor preference No Yes Yes Yes Yes Participation in equity post resolution Conversion to equity of the bank or an affiliate allows participation in the upside, if any³ N/A4 Uncertain given possibility of writedown Uncertain given possibility of writedown Uncertain given possibility of writedown Acceleration rights upon failure to pay Yes principal and interest 1Applicable in practice for G-SIBS' issuance of non-capital bail-in debt Yes Yes Yes No5 2 Approach applicable to G-SIBS in relevant jurisdictions. Additionally, Switzerland uses structural subordination, Germany uses statutory subordination, Spain uses contractual subordination 3 Assuming only bail-in is triggered. If other resolution powers are exercised, debt holders could be exposed to losses in a manner similar to a write-down of their claims 4 No bail-in power. In resolution, debtholders could potentially receive partial recoveries (analogous to a write-down) or have their claims satisfied through the issuance of new securities (analogous to a bail-in conversion) 5 The terms of senior non-preferred do not include acceleration rights upon failure to pay principal and interest; however, there is no statutory restriction in this regard. Once resolution proceedings are underway, holders may declare an event of default for failure to meet payment obligations 71 F#72Summary of Bail-in / TLAC Regime Best in class approach . • Scope Scope of bail-in instruments Liabilities excluded from bail-in TLAC compliance date TLAC requirement TLAC eligibility Grandfathering Sequencing and preconditions Form of bail-in DSIB disclosure requirements OSFI designated DSIBS Senior unsecured debt that is tradeable and transferable, original term >400 days, unsecured and issued, originated or renegotiated after September 23, 2018 Insured deposits, uninsured deposits, debt with original term < 400 days, ABS / covered bonds, structured notes², derivative liabilities, other liabilities November 1, 2021 22.5% minimum risk-based TLAC ratio (21.5% plus a 1.0% Domestic Stability Buffer) 6.75% minimum TLAC leverage ratio Regulatory capital³ + bail-in debt with remaining term to maturity > 1 year4 Yes - all senior instruments issued prior to September 23, 2018 1. Federal authorities bring bank into resolution 2. Full conversion of bank's NVCC instruments must occur prior to or concurrently with bail-in Equity conversion - Include disclosure related to the conversion power in any agreement governing an eligible liability as well as any accompanying offering document - Include a clause in the contractual provisions governing any eligible liability through which investors provide express submission to the Canadian bail-in regime - Provide disclosure of TLAC ratios beginning Q1 2019 Bail-in is not the only path in Canada to resolve a failing bank. Canadian authorities retain full discretion to use other powers including "vesting order", "receivership order", "bridge bank resolution order", etc. Equity conversion under the Canadian bail-in regime has the potential to result in realizable value in excess of principal amount 1Yankee CD's with original term > 400 days are in-scope of bail-in 2 As per definition of structured notes in section 2(6) of the Bank Recapitalization (Bail-in) Conversion Regulations under the CDIC Act 3 Adjusted to fully include subordinated debentures with a remaining term of one to five years 4 Provided such bail-in debt meets certain other requirements 72 12#73Appendix 4 Covered Bonds#74Global Registered Covered Bond Program Highlights • Able to issue across multiple currencies such as CAD, USD, EUR, GBP, AUD and CHF ⚫ CAD$43.6 billion outstanding (of which $15 billion is self-issued) vs. $100 billion program size² Extensive regulatory oversight and pool audit requirements • Mandatory property value indexation ⚫ CMHC prescribed disclosure requirements Program carries the ECBC Covered Bond Label Issuer The Bank of Nova Scotia Guarantor Guarantee Status Program Size Ratings Cover Pool Asset Percentage Scotiabank Covered Bond Guarantor Limited Partnership Payments of interest and principal in respect of the covered bonds are irrevocably guaranteed by the Guarantor. The obligations under the Covered Bond Guarantee constitute direct obligations of the Issuer and are secured by the assets of the Guarantor, including the Portfolio. The covered bonds will constitute legal, valid and binding direct, unconditional, unsubordinated and unsecured obligations of the Bank and will rank pari passu with all deposit liabilities of the Bank without any preference among themselves and at least pari passu with all other unsubordinated and unsecured obligations of the Bank, present and future. CAD $100 billion² Aaa / AAA / AAA (Moody's / Fitch / DBRS) First lien uninsured Canadian residential mortgage loans with LTV limit of 80% 94.8% Law Ontario, Canada Issuance Format 1 As at July 29, 2021. 144A/Reg S (UKLA Listed) 2 Effective April 6, 2021, OSFI limit for issuance is 5.5% of Total Assets. 74#75Global Registered Covered Bond Program¹ Portfolio Summary Statistics LOAN-TO-VALUE RATIOS² CREDIT SCORES³ 45% 65% 24% 4% 26% 5% 1% 1% 1% 17% 10% 0-20% 20-40% 40-60% 60-80% 80+% <599 600-650 651-700 701-750 751-800 800+ REMAINING TERM DISTRIBUTION (MONTHS) 23% 20% 13% 12% 10% 9.6% Alberta 0.2% Territories 2.0% 22% Saskatchewan 1.0% Quebec PROVINCIAL DISTRIBUTION <12 12-23.99 24-35.99 36-41.99 42-47.99 48+ 0.2% P.E.I. 1 As at July 29, 2021. Charts may not add to 100% due to rounding 59.9% 2 Uses indexation methodology as outlined in Footnote 1 on page 3 of the Scotiabank Global Registered Covered Bond Monthly Investor Report 3 Excludes unavailable credit scores Ontario 1.2% 22.1% British Columbia Manitoba 1.8% 0.9% New Brunswick 1.3% Newfoundland Nova Scotia 75 15#76Canadian Legislative Covered Bonds (CMHC Registered) . Canadian Registered Covered Bond Programs' Legal Framework (Canadian National Housing Act) Issuance Framework • Canadian Registered Covered Bond Programs Guide issued by Canada Mortgage and Housing Corporation (CMHC) Eligible Assets Mortgage LTV Limits • Uninsured loans secured by residential property in Canada • LTV limit of 80% • Basis for Valuation of Mortgage Collateral . Substitute Assets • Substitute Assets Limitation Cash Restriction . Issuers are required to index the value of the property underlying mortgage loans in the covered pool while performing various tests Securities issued by the Government of Canada Repos of Government of Canada securities having terms acceptable to CMHC 10% of the aggregate value of (a) the loans (b) any Substitute Assets and (c) all cash held by the Guarantor The cash assets of the Guarantor cannot exceed the Guarantor's payment obligations for the immediately succeeding six months • Coverage Test Asset coverage Test • Credit Enhancement • Swaps • Market Risk Reporting Covered Bond Supervisory Body Requirement to Register Issuer and Program Amortization Test Overcollateralization Reserve Fund Covered bond swap, forward starting Interest rate swap, forward starting Valuation calculation Mandatory property value indexation • CMHC • Yes; prior to first issuance of the covered bond program Registry • Yes Disclosure Requirements • Monthly investor report with prescribed disclosure requirements set out by CMHC Investor reports must be posted on the program website 76#77Appendix 5 Additional Information#78Medium-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 78#79Additional Information Scotiabank Listings: Toronto Stock Exchange (TSX: BNS) New York Stock Exchange (NYSE: BNS) Scotiabank Common Share Issue Information: • CUSIP: • ISIN: FIGI: . 064149107 CA0641491075 BBGOOOBXSXH3 NAICS: 522110 Scotiabank Credit Ratings Moody's Investors Standard & Poor's Fitch Ratings Services Dominion Bond Rating Service Ltd. Aa2 A+ AA Legacy Senior Debt¹ Senior Debt² Subordinated Debt (NVCC) Baa1 BBB+ Short Term Deposits/Commercial Paper P-1 Covered Bond Program Aaa Not Rated AA A2 A- AA- AA (low) A (low) A-1 F1+ R-1 (high) AAA AAA Outlook Stable Stable Negative Stable Includes: (a) Senior debt issued prior to September 23, 2018; and (b) Senior debt issued on or after September 23, 2018 which is excluded from the bank recapitalization "bail-in" regime 2 Subject to conversion under the bank recapitalization "bail-in" regime 79#80Non-GAAP Measures The Bank uses a number of financial measures to assess its performance. Some of these measures are not calculated in accordance with Generally Accepted Accounting Principles (GAAP), which are based on International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), are not defined by GAAP and do not have standardized meanings that would ensure consistency and comparability among companies using these measures. The Bank believes that certain non-GAAP measures are useful in assessing ongoing business performance and provide readers with a better understanding of how management assesses performance. These non-GAAP measures are used throughout this report and defined below. Adjusted results and diluted earnings per share The following table presents reconciliations of GAAP Reported financial results to non-GAAP Adjusted financial results. The adjustments summarized below are consistent with those described in the Bank's 2020 Annual Report. For a complete description of the adjustments, refer to the Non-GAAP Measures section in the Bank's 2020 Annual Report: Adjustments impacting current and prior periods: • Amortization of acquisition-related intangible assets, excluding software Adjustments impacting prior periods only: • Acquisition and divestiture-related costs - Include costs related to integrating acquired operations and net (gain)/loss on divestitures • Valuation-related adjustments, recorded in Q1 2020 - Relate to the inclusion of an additional scenario in the measurement of allowance for credit losses, fair value methodology change relating to uncollateralized OTC derivatives, and a software-related impairment loss 80#81Contact Information Investor Relations John McCartney Senior Vice President 416-863-7579 [email protected] Mark Michalski Director 416-866-6905 [email protected] Sophia Saeed Vice President 416-933-8869 [email protected] Rene Lo Director 416-866-6124 [email protected] Funding 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] 81