#1Investor Presentation November 2022 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 2022 Annual Report under the headings "Outlook" and in other statements regarding the Bank's objectives, strategies to achieve those objectives, the regulatory environment in which the Bank operates, anticipated financial results, and the outlook for the Bank's businesses and for the Canadian, U.S. and global economies. Such statements are typically identified by words or phrases such as "believe," "expect," "foresee," "forecast," "anticipate," "intend," "estimate," "plan," "goal," "project," and similar expressions of future or conditional verbs, such as "will," "may," "should," "would" and "could." By their very nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, which give rise to the possibility that our predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that our assumptions may not be correct and that our financial performance objectives, vision and strategic goals will not be achieved. We caution readers not to place undue reliance on these statements as a number of risk factors, many of which are beyond our control and effects of which can be difficult to predict, could cause our actual results to differ materially from the expectations, targets, estimates or intentions expressed in such forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: general economic and market conditions in the countries in which we operate; changes in currency and interest rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the failure of third parties to comply with their obligations to the Bank and its affiliates; changes in monetary, fiscal, or economic policy and tax legislation and interpretation; changes in laws and regulations or in supervisory expectations or requirements, including capital, interest rate and liquidity requirements and guidance, and the effect of such changes on funding costs; changes to our credit ratings; operational and infrastructure risks; reputational risks; the accuracy and completeness of information the Bank receives on customers and counterparties; the timely development and introduction of new products and services, and the extent to which products or services previously sold by the Bank require the Bank to incur liabilities or absorb losses not contemplated at their origination; our ability to execute our strategic plans, including the successful completion of acquisitions and dispositions, including obtaining regulatory approvals; critical accounting estimates and the effect of changes to accounting standards, rules and interpretations on these estimates; global capital markets activity; the Bank's ability to attract, develop and retain key executives; the evolution of various types of fraud or other criminal behaviour to which the Bank is exposed; disruptions in or attacks (including cyber-attacks) on the Bank's information technology, internet, network access, or other voice or data communications systems or services; increased competition in the geographic and in business areas in which we operate, including through internet and mobile banking and non-traditional competitors; exposure related to significant litigation and regulatory matters; climate change and other environmental and social risks, including sustainability that may arise, including from the Bank's business activities; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; the emergence of widespread health emergencies or pandemics, including the magnitude and duration of the COVID-19 pandemic and its impact on the global economy, financial market conditions and the Bank's business, results of operations, financial condition and prospects; and the Bank's anticipation of and success in managing the risks implied by the foregoing. A substantial amount of the Bank's business involves making loans or otherwise committing resources to specific companies, industries or countries. Unforeseen events affecting such borrowers, industries or countries could have a material adverse effect on the Bank's financial results, businesses, financial condition or liquidity. These and other factors may cause the Bank's actual performance to differ materially from that contemplated by forward-looking statements. The Bank cautions that the preceding list is not exhaustive of all possible risk factors and other factors could also adversely affect the Bank's results, for more information, please see the "Risk Management" section of the Bank's 2022 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 2022 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 27 35 39 42 48 48 55 65 71 75 79 81 3#4Scotiabank Leading Bank in the Americas Business Lines2,3 Core Markets¹ #3 in Canada #2 in P&C Banking #3 in Peru #3 in Chile #3 in Capital Markets #5 in Mexico #6 in Colombia #3 in Wealth 1 Core Markets rankings based on latest available market share data on loans for publicly traded banks as of July 2022 in Canada and Colombia, August 2022 in Mexico, and September 2022 in Peru and Chile 2 Business Line rankings based on Total Revenue or Total Net Income for publicly traded banks in Canada for the 9 months ended July 2022 3 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on 4#5Leading Bank in the Americas¹ Core markets: Canada, US, Mexico, Peru, Chile and Colombia 7th largest bank by assets¹ in the Americas Scotiabank FY22 Change Y/Y Reported Adjusted Reported Adjusted Medium Term Financial Objectives Net Income ($Bn) $10.2 $10.7 2% 6% EPS $8.02 $8.50 4% 8% All-Bank Objectives4 Revenue ($Bn) $31.4 $31.8 1% 2% Return on Equity 14.8% 15.6% 10 bps 60 bps EPS Growth5 7%+ Operating (2.4%) (1.1%) n.a. Leverage² Productivity Ratio² 54.4% 52.8% 120 bps 60 bps ROE5 Operating Leverage5 14%+ Positive Total Assets ($T) $1.35 14% Capital6 Strong Levels CET1 Ratio³ 11.5% (80 bps) Ranking by Market Share? Earnings by Market⁹ U.S.Á Other C&CA- 4% Canada #3 8% 6% USMCA USA8 Top 10 FBO PAC Pacific Mexico Peru #5 60% 22% Alliance #3 Countries Chile (PAC) #3 Colombia #6 Canada 1 Ranking by asset as at November 16, 2022, Bloomberg; 2 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 3 This measure has been disclosed in this document in accordance with OSFI Guideline - Capital Adequacy Requirements (November 2018); 43-5 year targets from 2020 Investor Day; 5 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com; 6This measure has been disclosed in this document in accordance with OSFI Guideline - Capital Adequacy Requirements (November 2018); Ranking based on market share in loans as of July 2022 in Canada and Colombia, August 2022 in Mexico, and September 2022 in Peru and Chile; 8 Ranking by asset as of March 2022; 9 Net income attributable to equity holders of the Bank for the 12 months ended October 31, 2022 5#6Well-Diversified Business with Strong Returns Global Wealth Management 15% Caribbean and Central America (C&CA) 4% Colombia 1% Brazil and Other 4% Peru 4% U.S. 8% Canadian Global Banking Banking and Markets FY22 REPORTED Mexico 44% EARNINGS MIX1,2 8% FY22 REPORTED EARNINGS MIX1 Canada 18% 62% International Banking 23% Chile 9% FY22 Reported 26.3% Return on Equity by Business Line 16.2% 14.3% 14.8% 22.2% 12.9% 15.5% 15.2% 13.3% 9.4% 3-year average ROE International Banking Canadian Banking 1Net income attributable to equity holders for the 12 months ended October 31, 2022; 2 Excludes Other segment (FY22: -$732MM in net income attributable to equity holders for the 12 months ended October 31, 2022) 6 Global Wealth Management Global Banking and Markets All Bank#7Business Lines (FY22 Reported Results) Business Line Canadian Banking Products International Banking Mortgages Auto Loans Corporate and Commercial Banking • Global Wealth Management Asset Management Private Banking Mortgages Auto Loans Commercial • . Loans Personal Loans Personal Loans Credit Cards • Credit Cards · Capital Markets • Trust Advisory and Products Private Investment Counsel Brokerage Global Banking and Markets • Corporate Banking • Advisory Equities Fixed Income • Foreign Exchange . Commodities NIAEH¹ ($MM) $4,763 $2,418 $1,556 $1,911 % All-Bank 1,2 45% 23% 15% 18% % Target 35-40% 25-30% ~15% 15-20% Productivity 44.8% 53.6% 60.6% 51.7% Ratio 1,3 ROE1,3 26.3% 12.9% 16.2% 14.3% Total Assets ($B) $429.5 $206.5 $32.7 $445.0 Employees5 19,262 41,660 8,015 2,225 1 For the 12 months ended October 31, 2022; 2 May not add due to rounding; 3 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 4 Average balance for the 12 months ended October 31, 2022; 5 As of October 31, 2022 7#8Why Invest in Scotiabank? Leading bank in the Americas • Six core markets: Canada, US, Mexico, Chile, Peru and Colombia ~90% of FY22 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 234 million people in the Pacific Alliance countries comprise the 6th largest economy in the world , • Increasing scale and market share in core markets • ☑ • Strong risk culture: solid credit quality, well provisioned Acceleration in Digital Banking Competitive scale and increasing market share in core markets Competitive advantages in technology, risk management and funding versus competitors Strong Canadian risk management culture with strong capabilities in AML and cybersecurity . Focus on secured and investment-grade lending • $5.5 billion in allowances for credit losses as of Q4/22 • • Increased Digital Adoption to 59% in Q4/22 (up 300 bps Y/Y) • Named "Digital Bank of the Year for Latin America and the Caribbean" by Latin Finance's 2022 Banks of the Year Awards Launched Scotia TranXact, a new digital payments platform to provide business banking clients with real-time payment services and cash management APIs in August Won "Best Use of Technology for Customer Experience - Overall" by The Digital Banker's Global Digital CX Banking Awards 2022 8#9Focused on Higher Return Markets 35% 30% 25% Scotiabank P&C Banking Focused On Higher ROE Markets 20% 32.8% 15% 15.7%² 10% 5% 0% Canada1 10.2%4 5 13.1% 12.8%³ Pacific Alliance Average FY21 ROE of Canadian banks in each market US Average 10-Year ROE of largest banks in each market 1 Average FY21 ROE of RY, TD, BMO, CM, and BNS 2 Average 10-year ROE of Banorte, Banbajio, Santander Mexico, Credicorp, Bancolombia, Santander Chile and Banco de Chile 3 FY21 ROE of BNS' PAC segment 4 Average 10-year ROE of JP Morgan, BofA, Citi, Wells Fargo, Truist, US Bancorp, PNC, Fifth Third, M&T and Comerica 5 Average FY21 ROE of TD, BMO and CM's US Banking segment Sources: Company Financial Reports 9#10Fiscal 2022 Financial Performance $MM, except EPS 2022 Y/Y Reported Net Income $10,174 2% Pre-Tax, Pre-Provision Profit¹ $14,314 (2%) Diluted EPS $8.02 4% • Revenue $31,416 1% Expenses $17,102 3% Productivity Ratio² 54.4% 120 bps Net Interest Margin³ 2.20% (3 bps) • PCL Ratio² 19 bps (10 bps) PCL Ratio on Impaired Loans² 24 bps (29 bps) Adjusted³ Net Income $10,749 6% Pre-Tax, Pre-Provision Profit $14,990 • Diluted EPS $8.50 8% Revenue Expenses $31,777 2% Productivity Ratio $16,787 52.8% 3% 60 bps • REPORTED NET INCOME YEAR-OVER-YEAR ($MM) 9,955 1,154 426 113 (990) (484) 2021 Net interest Non-interest income income PCLS Non-interest expenses WHOLE YEAR HIGHLIGHTS Adjusted EPS up 8% (reported up 4%), driven by higher revenues, lower PCLs and strong expense management Adjusted pre-tax, pre-provision profit in line with prior year (reported down 2%) 。 Strong result from P&C businesses was offset by GBM and higher funding cost impacting the Other segment Adjusted revenue up 2% (reported up 1%) 。 Net interest income up 7% o Adjusted non-interest income down 4% (reported down 7%), driven by lower investment gains Net interest margin down 3 bps 。 Lower contribution from asset/liability management activities related to higher funding costs Strong adjusted ROE³ of 15.6% (reported 14.8%) REPORTED NET INCOME4 BY BUSINESS SEGMENT ($MM) +15% 2021 2022 +38% -8% -1% 10,174 4,155 4,763 1,565 1,556 2,075 1,911 1,756 2,418 Taxes 2022 Canadian Banking Global Wealth Management Global Banking and Markets International Banking (Constant FX) 3 1 Pre-Tax, Pre-Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 43 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 2 3 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com 4 Attributable to equity holders of the Bank 10#11Q4 2022 Financial Performance $MM, except EPS Q4/22 Y/Y Q/Q Reported Net Income $2,093 (18%) (19%) Pre-Tax, Pre-Provision Profit¹ $3,097 (9%) (14%) Diluted EPS $1.63 (17%) (22%) Revenue $7,626 (1%) (2%) Expenses $4,529 6% 8% Productivity Ratio² 59.4% 380 bps 570 bps Net Interest Margin³ 2.18% 1 bp (4 bps) PCL Ratio² 28 bps 18 bps 6 bps PCL Ratio on Impaired Loans² 26 bps (5 bps) 5 bps Adjusted³ Net Income $2,615 (4%) Pre-Tax, Pre-Provision Profit $3,700 2% 2% Diluted EPS $2.06 (2%) (2%) Revenue $7,987 4% 2% Expenses $4,287 6% 3% Productivity Ratio 53.7% 90 bps 30 bps REPORTED NET INCOME YEAR-OVER-YEAR ($MM) 2,559 405 (466) 214 (361) (258) Q4/21 Net interest Non-interest Income income PCLs Non-interest Taxes expenses • • YEAR-OVER-YEAR HIGHLIGHTS Adjusted EPS down 2% (reported down 17%) o Adjusting items (slide 20) - EPS impact of ($0.43) Adjusted pre-tax, pre-provision profit up 2% (reported down 9%) Adjusted revenue up 4% (reported down 1%) o Net interest income up 10%, due primarily to strong asset growth across all business lines o Adjusted non-interest income down 3% (reported down 13%) NIM down 4 bps Q/Q o Lower contribution from asset/liability management activities, as well as lower Canadian Banking margin Expenses up 6% o Higher personnel costs, performance-based compensation and costs to support business growth Strong adjusted ROE³ of 15.0% (reported 11.9%) REPORTED NET INCOME4 BY BUSINESS SEGMENT ($MM) -5% Q4/21 Q4/22 -6% -4% +25% 2,093 1,238 1,170 385 361 502 484 515 643 Q4/22 Canadian Banking Global Wealth Management Global Banking and Markets International Banking (Constant FX) 3 1 Pre-Tax, Pre-Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 43 2 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 3 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com 4 Attributable to equity holders of the Bank 11#12$2.05 2011 $4.53 2012 Reported diluted earnings per share (C$)1,2 2011-2022 Adjusted EPS CAGR: 6% 2013 Dividends Paid per share (C$) 1 Reflects adoption of IFRS in Fiscal 2011; 2 Excludes notable items for years prior to 2016; 3 As of October 31, 2022 2014 Earnings and Dividend Growth +6% CAGR 2015 2016 2017 +5% CAGR 2018 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 12 2019 2020 $4.06 2021 2022 $8.02#13Strong Capital Position CETI ratio of 11.5%¹ Q/Q CHANGE IN CET1 RATIO (%) 21 bps 2 bps 11.5% 11.4% (14 bps) (1 bp) Q3 2022 Reported Earnings less dividends RWA Growth (ex. FX) FVOCI securities Other (net) Q4 2022 Reported 452.8 Q/Q CHANGE IN RISK WEIGHTED ASSETS ($Bn) 3.7 10.1 1.7 (0.1) 0.6 (6.4) 462.4 Q3 2022 Business Growth Book Quality Model Updates & FX & Other Implementations Market Risk Operational Risk Q4 2022 1 This measure has been disclosed in this document in accordance with OSFI Guideline - Capital Adequacy Requirements (November 2018) • Strong internal capital generation from earnings and improvements in book quality, partially offset by: o Organic growth from business and retail lending o Valuation changes in investment securities • RWA increased $9.6 billion Q/Q, mainly from the impacts of foreign currency translation Business growth includes organic loan growth of $6.1 billion, partially offset by a reduction in counterparty credit risk of $2.4 billion 13#14Scotiabank in the Pacific Alliance¹ FY222 Chile Mexico Peru Colombia Scotiabank Market Share3,4 15.0% 8.0% 16.3% 5.3% Pacific Alliance Total/Average 10.8% Market Share Ranking 3,4 3rd 5th 3rd 6th n.a. Average Total Loans 5 (C$B) $48.1 $35.1 $21.5 $11.8 $116.5 Revenue 5,10 (C$B) $2.1 $2.3 $1.4 $1.0 $6.8 Net Income after NC15,10 (C$MM) $843 $746 $383 $44 $2,028 ROE6 14.4% 22.0% 13.8% 3.3% 15.2% # of Employees 4,7 7,398 8,969 8,882 5,675 Total Deposit Growth 2,8 Total Loan Growth 2,8 Productivity Ratio 2,6 30,924 Total PTPP Growth 2,8,9 12% 74% 10% Y/Y 70% Y/Y 68% 7% 120 81 83 75 122 108 12 12 22 122 Y/Y 9 9 891 11 875 851 9 21 21 22 48 48 67 71 60 50 50% 51% 49% 20 42 22 281 300 309 16 16 16 21 23 23 222 42% 42% 41% 216 210 212 42% 35 30 55 36 40% 40% 34 37 38 287 294 310 Q4/21 Q3/22 Q4/22 Q4/21 Q3/22 Q4/22 Mexico Peru Chile Q4/21 Q3/22 Q4/22 Q4/21 Q3/22 Q4/22 Colombia 1Figures excluding Wealth Management; 2 Growth rates (%) are on a constant dollar basis, while metrics are on a reported basis; 3 Ranking based on publicly traded banks by total loans market share; 4 As of September 2022; except Colombia as of July 2022 and Mexico as of August 2022; 5 For the 12 months ended October 31, 2022; 6 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 7Employees are reported on a full-time equivalent basis; 8 May not add due to rounding; 9 Pre-Tax, Pre-Provision Profit defined as revenues less expenses; 10Pacific Alliance Total Includes Other PAC 14#15Digital Progress: All-Bank • Canada: Strong Digital Sales growth, supported by growth in Active Digital Users and Active Mobile Users. • Pacific Alliance: Continued progress in all Digital metrics, particularly Digital Sales and Digital Adoption. Digital Adoption (%) +300 bps 59% 56% 50% 43% 36% 2018 2019 2020 Q4/21 Digital Sales (%) +2,300 bps Active Digital Users (#000) 7,524 8,073 6,316 5,276 +8% +66% 8,733 2018 2019 2020 Q4/21 Q4/22 +11% Q4/22 Active Mobile Users (#'000)¹ 6,727 5,903 7,496 4,513 3,559 +111% 2018 2019 2020 Q4/21 Q4/22 +800 bps +0 bps 50% 42% 36% 28% +2,800 bps 22% Self-Serve Transactions 89% 92% 92% 77% 81% +1,500 bps (%)² 2018 2019 2020 Q4/21 Q4/22 2018 2019 2020 Q4/21 Q4/22 12018 and 2019 use historical estimation based on available mobile user data for Colombia and Chile 2 Self-serve transactions for prior periods have been restated to conform to the current presentation 15#16Digital Progress: Canada Digital Adoption (%) +7% Active Digital 3,329 3,599 3,847 4,071 4,368 +200 bps Users (#'000) +31% 59% 61% 55% 50% 46% 2018 2019 2020 Q4/21 Q4/22 +1,500 bps +9% 2018 2019 2020 Q4/21 Q4/22 Active Mobile Users (#'000) 3,073 3,393 3,704 2,396 2,666 Digital Sales (%) +55% 2018 2019 2020 Q4/21 Q4/22 +500 bps 28% +0 bps 26% 26% 23%-- +200 bps 16% Self-Serve Transactions 84% 87% 92% 93% 93% +900 bps (%) 2018 2019 2020 Q4/21 Q4/22 2018 2019 2020 Q4/21 Q4/22 Definitions Digital Sales (% of retail unit sales using Digital platforms, excluding auto, broker originated mortgages and mutual funds) Digital Adoption (% of customers with Digital login (90 days) / Total addressable Customer Base) Digital Users: # of customers who logged into website and/or mobile in the last 90 days Mobile Users: # of customers who logged into mobile in the last 90 days Self-serve Transactions: % of Financial transactions through Digital, ABM, IVR 160 16#17Digital Progress: Pacific Alliance Digital Adoption (%) +9% Active Digital 3,677 4,002 4,365 2,717 +500 bps Users (#'000) 1,947 58% +124% 53% 46% 35% +3,200 bps 26% 2018 2019 2020 Q4/21 Q4/22 +14% 3,793 2018 2019 2020 Q4/21 Q4/22 Active Mobile Users (#'000)¹ 3,334 2,830 1,847 +226% 1,163 Digital Sales (%) +1,300 bps 2018 2019 2020 Q4/21 Q4/22 68% +100 bps 55% 51% 29% +4,900 bps 19% Self-Serve Transactions 87% 90% 91% 70% 75% (%)² +2,100 bps 2018 2019 2020 Q4/21 Q4/22 2018 2019 2020 Q4/21 Q4/22 Definitions Digital Sales (% of retail unit sales using Digital platforms) Digital Adoption (% of customers with Digital login (90 days) / Total addressable Customer Base) Digital Users: # of customers who logged into website and/or mobile in the last 90 days Mobile Users: # of customers who logged into mobile in the last 90 days Self-serve Transactions: % of Financial transactions through Digital, ABM, IVR, POS 12018 and 2019 use historical estimation based on available mobile user data for Colombia and Chile; 2 Self-serve transactions for prior periods have been restated to conform to the current presentation 17#18Technology Strategy HVIV $ • Develop uniform, secure, and differentiated customer and employee experiences • Invest in leading technology products to achieve business goals, drive innovation, and enable business transformation Drive efficiencies and accelerate revenue growth by streamlining, automating, and digitizing how we deliver at scale . Further enhance cybersecurity and stability/resiliency capabilities to continually earn our customers' trust . Modernize core platforms to enhance quality, reduce time to market and lower delivery cost Investments in Technology 13.2% 11.6% 11.8% • Tech expense Modern, reusable products, services and platforms as % of revenue • Modern ways of working - agile and cloud first • $3,348 $3,708 $4,146 • Tech expense (in $millions) • 2018 2020 2022 Advanced analytics to power customer insights End-to-end digitization and intelligent operations Security and stability by design 18#19Fintech Strategy • • Embracing Fintech Scotiabank has embraced fintech and technology start- ups, acting as an advisor, partner, investor and customer The key objectives of Scotiabank's fintech strategy are: o Identify innovative companies, trends and business models early o Test, learn and implement fintech innovations o Drive an innovation culture at the Bank • Partnership Approach Scotiabank partners with VCs to amplify our relevance and reach in the global ecosystem, enabling earlier and faster access to innovative companies Canada High-growth enterprise software firms in analytics, machine learning and enterprise software Israel High growth tech companies in fintech and cybersecurity Latam Early-stage start-ups in digital banking and fintech • Sample Focus Areas • Channel Engagement • • Accessibility Natural language processing Personal financial management Customer experience and self-service • . Advanced Robotic Process Automation Machine-learning modelling IT Modernization Fraud Anti-Money Laundering A platform utilized to Sample Partnerships accelerate identification, classification and management of data on our systems g≤8 A digital engagement platform to interact remotely with clients through multi- functionality A platform that enables complex automation, allowing for digitization and categorization of data elements requiring judgements 19#20Social Environmental • Sustainable Finance ESG Highlights . . Issued a USD$1 billion 3-year sustainability bond, Scotiabank's first, and the largest sustainability bond by a Canadian financial or corporate entity in 2021 Acted as a bookrunner for a cumulative $22 billion in green, social, sustainability and sustainability-linked bonds since 2014 Deployed a total of $5.6 billion since 2018 through the Scotiabank Women InitiativeⓇ, which provides capital to women-owned and women-led businesses Mobilized a total of $96 billion in climate-related finance since November 1, 2018, toward a raised target of $350 billion by 2030 A member of the Net-Zero Banking Alliance, Scotiabank will be a net-zero bank by 2050. Our Net-Zero Pathways Report established interim financed emissions targets and actions for the Bank's priority high-emitting sectors Achieved the 25% target reduction for GHG emissions four years ahead of our 2025 target, in alignment with our goal for net-zero emissions in our operations by 2030 Aim to secure 100% non-emitting electricity in Canada by 2025 and globally by 20301 Metric Green, social, sustainable & sustainability-linked bonds underwritten2 (billions) Capital mobilized for climate-related finance (cumulative since 2018, billions) Reduction of GHG emissions (Global, scope 1 & 2, 2016) Electricity from non-emitting sources Women (VP+, global) People of Colour (VP+, Canada) 3 Economic value distributed (billions) 4 Dow Jones Sustainability Index (DJSI) North American Index CDP climate change score Target 2021 2020 2019 $13.0 $5.0 $350 billion by 2030 $58 $28 $16 25% by 2025 25% 19.9% 17.4% 100% by 2030 63% 61% 61% 40% by 2025 37% 36% 35% 30% by 2025 29% 28% 20% $21.0 $20.9 $21.2 Maintain inclusion Achieved Achieved Achieved A- A- B Scotiabank renewed diversity goals in November 2020, including a goal to have women represent greater than 40% of the global VP+ leadership team by 2025 2021 Community investment of $77 million in donations, community sponsorships, academic partnership, and employee volunteering Since launch, more than $60 million has been distributed to 200+organizations over the past two years under Scotia RISE, a 10-year, $500 million initiative to promote economic resilience among disadvantaged groups Mobilizing $96 billion Capital for climate-related finance since November 1, 2018 Financing a Sustainable Future Underwriting $22 billion Apportioned value of total green, social, sustainability & sustainability-linked bonds underwritten Investing $2.9 billion Green and sustainable bonds purchased for the Bank's liquid asset investment portfolio Issuance $1.5 billion Proceeds fund green and social assets, including the advancement of women-led businesses Governance Included in the Dow Jones Sustainability Index (4th year) S&P Global ESG score places Scotiabank in the top 5% of global financial institutions with industry-leading scores for governance, anti-crime policy and risk and crisis management A Corporate ESG committee, ultimately reporting to the Board, oversees the Bank's ESG strategy implementation Awarded Outstanding Global Leadership in Sustainability Transparency (2022 Global Finance Awards) & Best Corporate Sustainability Strategy (ESG Investing Awards 2022) environment programme MSCI ESG RATINGS UN AAA CCC B BB BBB AA AAA finance initiative Bloomberg Gender-Equality Index 2022 CDP DRIVING SUSTAINABLE ECONOMIES A-Rating Corporate ESG Performance RATED BY ISS ESG▷ Prime Details and definitions more fulsomely provided in Scotiabank's 2021 ESG Report. 1. Includes renewable (hydro, solar, wind, geothermal, tidal) and nuclear sources, and may include the use of renewable energy certificates (RECs); 2. Scotiabank's apportioned value of total bonds underwritten (bookrunner only) November 1 - October 31. 3. Refer to details in footnote 15, page 14 of the 2021 ESG report; 4. Per GRI methodology 201-1 Direct economic value generated and distributed (2016), see footnote 3 page 2 of the 2021 ESG report. 20#21ESG Spotlight - Retail Banking Housing D Green Vehicles ESG Investing 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 Recent Achievements Introduced Canada's first sustainable investing tools through Scotiabank's iTrade in 2017. Over 20,000 users interacted with the sustainable investing tool in 2020 Published Scotia Global Asset Management's inaugural Stewardship and Responsible Investment Report on February 23, 2022 Introduced the Dynamic Active Sustainable Solutions, including the newly launched Dynamic Sustainable Equity Fund and re-branded Dynamic Sustainable Credit Fund Launched Scotia SRI ETFs in January with Tangerine as the key initial distribution partner (suite of 4 ETFs) FYTD as of September 2022, EV loans represented 7.6% of our total Auto bookings and were 9.0% of the total amount financed; in comparison, EV represented 6.4% of our total Auto bookings and 7.4% of the total amount financed throughout FY2021 Scotiabank's booking growth for electric vehicles (units) was 15.5% Y/Y FYTD as of September 2022, compared to the Y/Y growth of 72% we experienced FYTD as of September in 2021 We have an exclusive relationship with Polestar and Rivian as well as a semi-exclusive relationship with Tesla All our automotive manufacturer partners have and will continue to be introducing EV vehicles in the months and years ahead Scotiabank's Indigenous Financial Services team is Indigenous-led and comprised of experts in land development both on and off reserve, with vast experience in residential developments and conveyancing The First Nations Leasehold Financing 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#22Business Line Overview Canadian Banking 22 22#23Canadian Banking Canadian Banking provides a full suite of financial advice and banking solutions, supported by an excellent customer experience, to over 10 million Retail, Small Business and Commercial Banking customers. It serves these customers through its network of 941 branches and 3,725 automated banking machines (ABMs), as well as online, mobile and telephone banking, and specialized sales teams. Canadian Banking also provides an alternative self-directed banking solution to over 2 million Tangerine Bank customers. Business Mix Retail 73% Q4/22 Revenue Mix $3.1Bn Residential Mortgages 64% Q4/22 Average Loan Mix Strategic Focus • Growing Commercial Banking in select industries (agriculture, health care & professionals, real estate and technology) • Growing in under-represented provinces (BC and Quebec) Financial Results $442Bn $MM Q4/22 Y/Y Q/Q 10% 16% Auto 27% Business and Government Loans 8% Reported Business Banking 2% Other Personal Credit Cards Loans Net Income¹ $1,170 (5%) (4%) Pre-Tax, Pre Provision Profit² $1,737 10% Reported Net Income¹ ($MM) and NIM4 (%) Revenue $3,134 11% 2.20% 2.19% 2.22% 2.29% 2.26% Expenses $1,397 12% 1% PCLS $163 nmf 74% Productivity Ratio³ 44.6% 40 bps 20 bps 1,238 1,201 1,179 1,213 1,170 Net Interest Margin4 2.26% 6 bps (3 bps) PCL Ratio 3,5 15 bps 25 bps 6 bps Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 PCL Ratio on Impaired Loans 3,5 14 bps 4 bps 1 bp Medium-Term Financial Objectives Net Income Growth 1,4 Adjusted4 Productivity Ratio4 Target6 5%+ <44% Positive Net Income¹ $1,174 (5%) (4%) Pre-Tax, Pre Provision Profit $1,743 10% Expenses Productivity Ratio $1,391 12% 1% 40 bps 20 bps Operating Leverage4 44.4% 1 Net income attributed to equity shareholders; 2 Pre-Tax, Pre-Provision Profit defined as revenues less expenses; 3 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 4 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com; 5 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures; 63-5 year target from 2020 Investor Day 23#24Loan Portfolio 84% Real Estate Secured Lending High Quality Residential Mortgage Portfolio 。 28% insured; remaining 72% uninsured has an LTV of 49%1 。 Mortgage business model is “originate to hold" 。 New originations² in 2022 had average uninsured LTV of 63% o Majority is freehold properties; condominiums represent approximately 16% of the portfolio Market Leader in Auto Loans o $40.1 billion retail auto loan portfolio with 10 OEM relationships (6 exclusive) o Prime Auto and Leases (~93%) 。 Stable lending tenor with contractual terms for new originations averaging 79 months (~6.5 years) with projected effective terms of 54 months (4.5 years) Prudent Growth in Credit Cards o $7 billion 5 credit card portfolio represents ~2% of domestic retail loan book and ~1% of the Bank's total loan book o Organic growth strategy focused on payments and deepening relationships with existing customers 4% Unsecured DOMESTIC RETAIL LOAN BOOK³ $387Bn 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 equity lines of credit, which include mortgages for purchases, refinances with a request for additional funds and transfer from other financial institutions 3 Spot Balance as of October 31, 2022; Percentages may not add to 100% due to rounding 4 Net of allowance for credit losses 5 Spot balance for October 31, 2022 11% Automotive 24 24#25Canadian Residential Mortgages High quality stable portfolio. Credit trends performing strongly 72% Uninsured Total Portfolio 1,2 $302Bn 28% Insured Total Portfolio 1,2 63% Fixed $302Bn 37% Variable FICO® Distribution - Canadian Uninsured Portfolio4 86% 1% 5% 8% <620 620-680 681-720 >720 Canadian Mortgage Portfolio Mortgage Variable Portfolio Mortgages Total Outstanding Balance $302Bn $112Bn Uninsured Outstanding Balance Average LTV³ $219Bn $97Bn 49% 57% Canadian Uninsured Mortgage Portfolio Average FICO® Score % of Portfolio Uninsured Canada 799 72% GTA 802 84% GVA 804 84% 1 Includes Wealth Management 2 Spot Balances at Q4/22 3 Weighted by mortgage balances and adjusted for property values based on the Teranet - National Bank National Composite House Price Index 4 FICO is a registered trademark of Fair Isaac Corporation 25 25#26Canadian Residential Mortgages High quality stable portfolio. Credit trends performing strongly Canadian Mortgage Portfolio: $302Bn (Spot balances as at Q4/22, $Bn) 84% Freehold 166.7 22.5 Freehold $254Bn - (84%) Condos $48Bn (16%) - Total Portfolio 1,2 $302Bn 60.2 144.2 33.0 16.7 43.5 20.4 3.9 11.8 10.4 2.9 0.3 29.1 0.7 17.5 11.5 9.7 Ontario BC & Territories Alberta Quebec Atlantic Provinces Manitoba & Saskatchewan 55.1% % of portfolio Maturity Schedule - Total Canadian Mortgages ($Bn) 19.9% 10.9% 6.8% 3.8% 3.5% New GTA/GVA Mortgage Originations 94.4 Fixed Variable 75.3 66.3 8.2 43.6 Q4/21 Q3/22 Q4/22 52.1 32.7 29.7 3.1 4.6 58.1 50.8 4.0 25.1 29.6 23.2 0.2 3.8 Greater Toronto Area Total Originations ($Bn) Uninsured LTV3 Greater Vancouver Area Total Originations ($Bn) Uninsured LTV3 6.2 5.8 3.5 64% 63% 63% 2.6 2.3 1.3 63% 62% 62% FY23 FY24 FY25 FY26 FY27 FY28+ Asset yield on variable rate mortgages reprice with each change to Scotiabank's prime rate 1 Includes Wealth Management 2 Spot Balances at Q4/22, may not add due to rounding 3 Average LTV ratios for our uninsured residential mortgages originated during the quarter 16% Condos 26#27Automotive Finance • Canada's leader in automotive finance • Provide personal and commercial dealer financing solutions, in partnership with ten leading global automotive manufacturers in Canada • Portfolio increased 5% year-over-year¹. Personal up 3%, Commercial up 34% Exclusive Relationships Commercial 13% Near-Prime 6% Retail AVERAGE ASSET MIX $45.7Bn1,2,3 100% Secured 81% Prime Retail MAZDA VOLVO POLESTAR RIVIAN JAGUAR/LAND ROVER MITSUBISHI Semi-Exclusive Relationships* HYUNDAI CHRYSLER/STELLANTIS TESLA * 1 to 2 other financial institutions comprise Semi-Exclusive relationships Market Share Prime Retail Market Share4 Near-Prime Retail Market Share 5 Commercial Floorplan Market Share6 36% 64% 75% 25% 78% 22% GENERAL MOTORS Asset Growth ($Bn) $44.4Bn $37.1Bn 2016 2017 2018 2019 2020 2021 2022 1 For the three months ended October 31, 2022; 2 May not add due to rounding; 3 Net of allowance for credit losses; 4 CBA data as of April 2022, includes RBC, BMO, TD, Scotiabank, CIBC, National Bank, Laurentian Bank, Canadian Western Bank, HSBC Canada; 5 Dealer Track Portal data, includes all Near-Prime Retail providers on Dealer Track Portal, data for October 2022 originations; Includes BMO, CIBC, RBC, Scotiabank, TD, HSBC, Canadian Western Bank, Laurentian Bank, data as of March 2022 27#28Business Line Overview International Banking 28#29International Banking International Banking is a strong and diverse franchise with over 11 million Retail, Corporate, and Commercial customers. The geographical footprint encompasses the Pacific Alliance countries of Mexico, Chile, Peru, and Colombia, as well as Central America, the Caribbean, and Uruguay. Business Mix Strategic Focus Business Loans 56% Asia Q4/22 1% Revenue 77% Latin Credit Cards Q4/22 Loan 5% Mix America Mix1 22% $2.5B Auto 1% Deepening relationships with the Affluent Retail segment Continue driving efficiencies and customer experience by leveraging Digital Financial Results 10% $161B Constant dollar basis²,6 C&CA Personal Loans 28% $MM Q4/22 Q4/21 Y/Y² Q3/22 Q/Q² Residential Mortgages Reported 3 6,7 Reported Net Income ($MM) and NIM (%) Net Income³ Pre-Tax, Pre Provision $643 $515 25% $621 4% $1,140 $1,044 9% $1,115 2% Profit4 4.08% 3.78% 3.87% 3.96% 3.95% Revenue $2,504 $2,322 8% $2,426 3% Expenses $1,364 $1,278 7% $1,311 4% PCLS $355 $323 10% $328 8% 588 621 643 515 544 Productivity Ratio5 Net Interest Margin 6,7 54.5% 54.3% 20 bps 53.5% 100 bps 4.08% 3.78% 30 bps 3.95% 13 bps Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 PCL Ratio 5,8 PCL Ratio Impaired Loans 5,8 89 bps 91 bps (2 bps) 84 bps 5 bps 81 bps 118 bps (37 bps) 68 bps 13 bps Medium-Term Financial Objectives Net Income Growth 3,6 Productivity Ratio6 Adjusted Target⁹ 9%+ Net Income³ Pre-Tax, Pre Provision $650 $521 25% $628 4% $1,149 $1,054 9% $1,124 2% <50% Operating Leverage6 Positive Profit Expenses Productivity Ratio $1,355 $1,268 7% $1,302 4% 54.1% 20 bps 53.2% 53.9% 90 bps 1 May not add due to rounding; 2Y/Y and Q/Q growth rates (%) are on a constant dollars basis, while metrics and change in bps are on a reported basis; 3 Net income attributed to equity shareholders; 4 Pre-Tax, Pre-Provision Profit defined as revenues less expenses; 5 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 6 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com; 7 Prior period has been 29 restated to include as a deduction non-interest bearing deposits with banks, to align with the Bank's definition; 8 Provision for credit losses on certain assets-loans, acceptances and off-balance sheet exposures; 93-5 year target from 2020 Investor Day#30PAC Fundamentals Driving Growth • . • Strong Governance Democratic countries with open economies Independent central banks with inflation- targeting regimes Free trade agreements and free-floating currencies Business-friendly environments . · Sound Macro Environment Diversified economies with solid underlying economic fundamentals 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 Over 230 million people with a median age of 30 years • Resilient domestic consumption in the post- pandemic period . Important exposure to growing Asian markets while maintaining close links to US economy • • Among the fastest growing smartphone markets in the world Considerable growth in the middle class 30#31Scotiabank in Mexico Business Overview1 Customers² ~3.2MM Corporate/ Commercial Residential Mortgages 24.3% Market Position by Loans5 Employees² ~9,000 31% Branches² 474 Average Loans $35Bn Loans $35.1Bn 59% Average Deposits $33Bn 4% 5% Personal Loans 14.7% 13.5% 9.8% 8.0% 7.0% 2% Auto Total NIAT (after NCI)3,4 $746MM Credit Cards ROE3,4 22.0% Retail Loans 89% 11% BBVA 8 citibanamex BANORTE Productivity3,4 49.0% Secured Unsecured BBVA Banorte Santander Banamex Scotiabank HSBC PTPP1,6 Productivity Ratio4 Operating Leverage4 951 892 2019 2020 +9% CAGR 55.7% 55.0% 1,115 1,162 2021 2022 All figures excluding Wealth Management 1 PTPP Current period dollars on CDE and prior periods and CAGR on a constant dollar basis 2 Including subsidiaries 3 FY'22 Results 4 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Fourth Quarter 2022 Report to Shareholders, available on http://www.sedar.com 5 Source: CNBV as of August 2022 6 Pre-Tax, Pre-Provision Profit defined as revenues less expenses 50.0% 8.9% 1.3% 2.2% 49.0% -1.2% 2019 2020 2021 2022 2019 2020 2021 2022 31#32Scotiabank in Peru Business Overview1 Residential Mortgages Market Position by Loans5 Customers² ~3.4MM Corporate/ Commercial 15% Employees² ~8,900 33.3% Branches² 256 Personal Loans 20.3% Average Loans $21Bn Loans $21.5Bn 21% 16.3% 58% 12.4% Average Deposits $16Bn 4% Total NIAT 1% Credit Cards $383M Other (after NCI)3,4 ROE³,4 13.8% Retail Loans 43% 57% BCP BCP BBVA BBVA Scotiabank Interbank Productivity3,4 39.4% Secured Unsecured PTPP1,6 Productivity Ratio4 Operating Leverage4 1,208 1,200 2019 2020 All figures excluding Wealth Management -10% CAGR 976 875 2021 2022 1 PTPP Current period dollars on CDE and prior periods and CAGR on a constant dollar basis 2 Including subsidiaries 3 FY'22 Results 4 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Fourth Quarter 2022 Report to Shareholders, available on http://www.sedar.com 5 Market share as of September 2022. Scotiabank includes SBP, CSF and Caja CAT 6 Pre-Tax, Pre-Provision Profit defined as revenues less expenses 39.4% 6.2% 38.3% 0.5% 35.5% 35.3% -2.5% -6.3% 2019 2020 2021 2022 2019 2020 2021 2022 32 22#33Scotiabank in Chile Business Overview1 Market Position by Loans5 Customers² ~2.7MM Corporate/ Commercial Employees² ~7,400 Branches² 109 Average Loans Residential Mortgages 17.6% 16.3% 15.0% 13.7% 38% 46% Loans $48.1Bn 9.8% $48Bn Average Deposits $21Bn 10% Total NIAT (after NCI)3,4 6% Personal Loans $843MM Credit Cards ROE³,4 14.4% Retail Loans 80% 20% Itaú Santander Chile Scotiabank BCI Itaú Productivity3,4 40.4% Secured Unsecured 958 1,012 2019 2020 PTPP1,6 +9% CAGR Productivity Ratio4 Operating Leverage4 48.2% 1,259 46.6% 43.5% 1,079 40.4% 4.5% 3.0% 2021 2022 All figures excluding Wealth Management 1 PTPP Current period dollars on CDE and prior periods and CAGR on a constant dollar basis 2 Including subsidiaries 3 FY'22 Results 7.0% 7.0% 2019 2020 2021 2022 2019 2020 2021 2022 4 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Fourth Quarter 2022 Report to Shareholders, available on http://www.sedar.com 5 Market share as of September 2022, includes only private banks. Scotiabank includes Cencosud, Source: CMF 6 Pre-Tax, Pre-Provision Profit defined as revenues less expenses 33#34Scotiabank in Colombia Business Overview1 Customers² ~2.9MM Corporate/ Residential Mortgages 26.9% 17% Market Position by Loans 5,6 Employees² ~5,700 Commercial Branches² 132 Average Loans $12Bn 50% Loans $11.8Bn 19% Personal Loans Average Deposits $9Bn 16.8% 11.4% 10.7% 6.3% 5.3% 4.0% 14% Total NIAT (after NCI)3,4 $44MM Credit Cards ROE 3,4 Productivity3,4 3.3% Retail 37% 63% Loans G BBVA 1 Bancolombia Davivienda Bogotá BBVA Occidente Scotiabank Popular 66.8% Secured Unsecured Colpatria PTPP1,7 Productivity Ratio4 Operating Leverage4 -14% CAGR 522 385 2019 2020 All figures excluding Wealth Management 66.8% 64.0% 62.9% 358 330 2021 2022 55.0% 1.4% -5.3% -13.5% -5.8% 1 PTPP Current period dollars on CDE and prior periods and CAGR on a constant dollar basis 2Including subsidiaries 2019 2020 2021 2022 2019 2020 2021 2022 3FY'22 Results 4 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's Fourth Quarter 2022 Report to Shareholders, available on http://www.sedar.com 5 Market share as of July 2022 6 Members of AVAL Group: Banco de Bogotá, Banco de Occidente, Banco Popular and Banco AV Villas 7 Pre-Tax, Pre-Provision Profit defined as revenues less expenses 34#35Other Regions Leading Caribbean & Central American franchise Caribbean & Central America Asia . • • Leading bank serving retail, commercial and corporate customers Major markets include the Dominican Republic, Jamaica, Trinidad & Tobago, Costa Rica, Panama and The Bahamas Sharpened geographic footprint by exiting higher risk, low growth jurisdictions including Haiti, El Salvador, Puerto Rico, US Virgin Islands, British Virgin Islands, Belize and 8 of the Leeward Islands Dominican Republic: #4 bank Acquired Banco Dominicano del Progreso in 2019 China: ~18% interest in Bank of Xi'an • CAD $1,007MM carrying value as of October 31, 2022 Bank of Xi'an reported $497MM of net income for the 12 months ended September 30, 2022, of which Scotiabank's share is 18% 35#36Business Line Overview Global Wealth Management 36#37Global Wealth Management 3rd Largest Wealth Management Business in Canada¹ Global Wealth Management is focused on delivering comprehensive wealth management advice and solutions to clients across Scotiabank's footprint. Global Wealth Management serves over 2 million investment fund and advisory clients across 13 countries - administering approximately $500 billion in assets. Business Overview Strategic Focus . 13% 10% Q4/22 Revenue Q4/22 AUM² Mix $311Bn $1.3Bn 87% 90% 22% Q4/22 Continued growth opportunities through digital Scotia Smart Investor rollout, close partnership with the Retail bank, and new product innovation AUA² $580Bn 78% Financial Results International Canada Reported Net Income³ ($MM) and ROE4 (%) $MM, except AUM/AUA Reported Q4/22 Y/Y Q/Q 17.2% 17.5% 16.3% 412 -7 385 405 407 376 361 15.5% Net Income³ $361 (6%) (4%) 14.8% Pre-Tax, Pre Provision Profit5 $491 (6%) (5%) Revenue $1,289 (4%) (2%) Expenses $798 (3%) PCLs $1 nmf nmf Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Ex. Performance Fees Performance Fees Productivity Ratio² 61.9% 80 bps 130 bps AUM ($B)² $311 (10%) (3%) AUA ($B)² $580 (3%) Medium-Term Financial Objectives Net Income Growth 3,4 Adjusted Productivity Ratio4 Operating Leverage4 Target6 8%+ <65% Positive Net Income³ $368 (6%) (4%) Pre-Tax, Pre Provision Profit 5 $500 (6%) (5%) Expenses Productivity Ratio² $789 (3%) 61.2% 70 bps 130 bps 1 Based on Total Net Income for publicly traded banks in Canada for the 3 months ended July 31, 2022; 2 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 3 Attributable to equity holders of the bank; 4 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com; 5 Pre-Tax, Pre-Provision Profit defined as revenues less expenses; 63-5 year target from 2020 Investor Day 37#38Global Wealth Management #1 in Loan growth¹ | #2 in Retail Mutual Fund Assets in Canada² • Continue product innovation: 2023 Priorities ⚫ Focus on international: Maximize our international footprint by growing the product shelf, and by enhancing internal capabilities in sales and distributions. Invest and grow the International Wealth business by following our retail footprint Drive innovation in products to deliver industry- leading investment capabilities and performance through purpose-built solutions for customers across Global Wealth Management's brands and channels Plan-based, holistic advice: Deliver the entire bank to ⚫ new and existing clients with complex needs through our Total Wealth strategy • Invest in digital: Digitally enable sales and advice to support all our distribution channels, including proprietary and 3rd party sales Productivity Ratio AUM Enhance our winning team culture: Cultivate a talented, diverse workforce, and foster an environment to keep our customers and employees safe, while delivering outstanding results and client experiences AUA 64.5% 60.6% +8% CAGR +8% CAGR 311 580 207 403 2019 2020 2021 2022 2017 2022 2017 2022 Figures for the 9 months ended July 31, 2022 2 Ranking as at September 30, 2022 38#39Global Wealth Management #1 in Loan growth¹ | #2 in Retail Mutual Fund Assets in Canada² 3rd Largest Wealth Management Business in Canada 1,2 Asset Management A broad selection of actively managed investment solutions from our innovative platform. Mutual Funds ETFs Pooled Funds Liquid Alternatives Hedge Funds Private Asset Funds Segregated Portfolios Institutional Asset Management Wealth Distribution Channels A powerful advisory and distribution network across Canada and Latin America. Private Investment Counsel Full-Service Brokerage Private Banking Trust and Philanthropic Services Online Brokerage Retail Bank Branch Network Mobile Advice Team 3rd Party Distributors ASSET 1832 MANAGEMENT L.P. Scotia Funds. Dynamic Funds JARISLOWSKY FRASER Scotia MD Wealth Management. 1 Figures for the 9 months ended July 31, 2022 2 Ranking as at September 30, 2022 MD Financial Management Scotia iTRADE. Scotiabank Branch mobile advice team 39#40• • Global Wealth Management Strong investment performance, increasing scale Market-Leading Capabilities Award-Winning Investment Management 1832 Asset Management's outstanding investment management results recognized with a combined 50 awards by Fund Grade A+ and Refinitiv Lipper Strong investment return with Dynamic Funds ranking #2 among Independents for 5 year returns. Launched 6 new Environmental, Social and Governance (ESG) focused products across Scotia, Dynamic, and Tangerine. #2 in market share in Retail Investment Fund Assets in Canada Chile Asset Management received 5 Premios Salmon mutual fund awards Scotia Fondos solidified #2 market share in Peru Investment Performance Highlights 72% (1) of 1832 Asset Management assets in the % top two quartiles over a five-year period 87% %(7) of Dynamic Funds assets in the top two % quartiles over a five-year period Tailored Advice Scotia Wealth Management 2022 Global Finance Awards: Best Private Bank for Net Worth between $1MM and $24.9MM and Best Private Bank for women clients Scotia Wealth Management 2022 The Banker: Best Branding in private banking (North America) and Best Private Bank for wealthy women Largest Private Investment Counsel business in Canada (SWM MD, JFL) • Scotia Wealth Management Mexico obtained #1 in Great Place to Work in the Country ⚫ Scotia iTRADE ranked #1 overall among the Big 5 Banks in the 2021 Surviscor Canadian Online Brokerage Ranking for best overall online experience Investing in product innovation including the new Medicus Pension Plan: a first-to-market offering, fulfilling a long-standing need for physicians and Scotia iTRADE Enhanced Commission-Free ETF program Launched new digital platforms Scotia Smart Investor, the new iTRADE app, and Dynamic Advisor Site 1 October 31, 2022 40 40#41Business Line Global Banking Overview and Markets 41#42Global 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 Europe 7% 3 3 Q4/22 Geographic Revenue¹ $1.4Bn US 47% Canada 43% Global Equities 14% Business Banking Q4/22 Revenue By Business Line¹ $1.4Bn 63% 23% FICC Net Income² ($MM) and ROE4 (%) Strategic Focus Executing a consistent strategy to be a top wholesale Bank in the Americas, that is focused on Geography, Client and Product Leverage strong balance sheet to support corporate lending and asset growth across the America's footprint to win increased financing business • Well positioned to leverage the Bank's unique geographic footprint across the Americas to serve it's cross-border clients in Canada, US and LatAm Financial Results 17.4% 15.5% 15.6% 13.4% 11.1% Q4/22 Y/Y Q/Q Reported Net Income² $484 (4%) 28% 561 502 488 484 378 Pre-Tax, Pre Provision Profit³ $658 12% 32% Revenue $1,354 15% 18% Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Expenses $696 18% 6% Medium-Term Financial Objectives Net Income Growth²,7 PCLS $11 nmf nmf Target6 ~5% Productivity Ratio4 51.4% 110 bps (540 bps) PCL Ratio 4,5 Productivity Ratio? Operating Leverage ~50% Positive PCL Ratio Impaired Loans 4,5 3 bps 6 bps 21 bps 5 bps 8 bps 12 bps 1TEB Revenue. Note GBM Latam revenue contribution is reported in International Banking results; 2Attributable to equity holders of the Bank; 3 Pre-Tax, Pre-Provision Profit defined as revenues less expenses; 4Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 5 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures; 63-5 year target from 2020 Investor Day; 7 Refer to non- GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com; 42#43GBM in US and Latam Delivering the full bank to meet our Americas clients' needs Wholesale bank in the US: Corporate & Investment Banking, Capital Markets, Revenue US1 Latam¹ Cash Management and Trade Finance $640 million $498 million Top 10 Foreign Bank Organization (FBO) in the US $58 billion Average Loans $56 billion Client list focused on S&P $103 billion Average Deposits $26 billion $287 million Total NIAT $232 million 500, investment grade corporates Clients across multiple sectors with focus areas for growth include Consumer/ Industrial/Retail (CIR), Technology, and Healthcare 42.2% Productivity 5 Offices 26.0% • • 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 M MARRIOTT $1,000,000,000 Senior Notes Southern Company PROLOGIS. SEAGATE $1,000,000,000 C$300,000,000 Senior Notes Senior Credit Facilities $600,000,000 Senior Credit Facility Joint Bookrunner September 2022 Joint Bookrunner October 2022 Admin. Agent, Bookrunner August 2022 Admin Agent, Bookrunner August 2022 1 Figures for fiscal Q4/22 PHOENIX TOWER INTERNATIONAL has acquired the Chilean Tower Portfolio of WOM for US$930,000,000 Exclusive Financial Advisor August 2022 ON NETFIBRA KKR 60% stake & Telefónica 40% stake is acquiring e) entel Fiber Optic Assets in Chile for US$358,000,000 Financial Advisor October 2022 43#44Risk Overview 44#45Risk Snapshot RWA Breakdown1 Credit Exposure by Country 2,3 Credit Exposure by Sector 1,2 ■Canada ■ U.S. Real Estate and Construction Financial Services 7.9% 5.1% ■Credit Risk 67% 2% 10% ■ Chile Wholesale and Retail 4.5% 3% 11% $462Bn 87% ■ Operational Risk 3% $770Bn³ 5% ■ Other International ■Mexico Utilities 3.5% Technology and Media 3.3% 5% ■Market Risk ■ C&CA Other 3.1% 7% 9% ■ Peru Agriculture 2.6% ■ Colombia Automotive 1.9% Canadian Banking 1,2 Personal & Commercial Lending International Banking1,2 Food and Beverage 1.5% Energy 1.2% Transportation 1.2% Health Care 0.9% Sovereign 0.8% ■ Secured Mining 0.8% 72% ■ Secured 5% $387Bn $72Bn 95% ■ Unsecured 28% ■ Unsecured 1 As at October 31, 2022 2% of total loans and acceptances 3 As at October 31, 2022 Hospitality and Leisure 0.5% Metals 0.4% 0.3% Forest Products Chemicals 0.3% 45 45#46Real Estate and Construction Loans 2% Engineering & Project Management 37% Residential / Multi- Family Residential 6% Commercial Construction 7% Retail 2% Engineering & Project Management 38% Residential / Multi-Family Residential Q4/21 $44.8 billion 21% Industrial/ Commercial 5% Commercial Construction 9% Office 17% REITS Q4/22 $60.9 billion 24% Industrial/ Commercial 5% Retail 7% Office 18% REITS Growth in Real Estate and Construction loans has been broad based across subsectors Limited exposure to construction subsector Long standing relationships in top tier names, with strong balance sheets and experience managing through cycles, and with deep relationships with trades and suppliers 46#47Strong Credit Quality GILS ($MM) AND GIL RATIO1 77 bps 81 bps 73 bps 67 bps 64 bps 60 bps 58 bps 62 bps 5,116 33 27 4,770 218- 286 4,735 28 1,040 - 219 235 4,456 26 4,435 32 4,264 32 4,252 27 231 1,106 921 168 4,786,18 -156 130 917 941 904 824 771 3,757 3,419 3,551 3,270 3,268 3,240 3,324 3,695 HIGHLIGHTS Gross formations remained near historical lows Excluding the impact of foreign exchange, gross impaired loans increased $366 million Q/Q 76 bps 62 bps 54 bps 1,141 219 34 bps 27 bps 25 bps 13 21 bps 24 bps 827 983 1 8 173 27- Q1/20 Q2/21 Q3/21 Q4/21 (Pre-pandemic) Q1/22 Q2/22 Q3/22 Q4/22 NET WRITE-OFFS ($MM) AND NET WRITE-OFFS RATIO¹ HIGHLIGHTS Net write-offs increased 20% Q/Q, mostly driven by lower Business Banking recoveries in current quarter Write-offs remained near historical lows in both Canada and International, driven by lower impairments 256 560 1 123 910 801 1 457 139 4 422 4 144 385 3 462 5 155 . Net write-offs ratio increased 3 bps Q/Q 132 544 435 311 274 283 302 Q1/20 Q2/21 (1) Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 (33)Q4/22 (Pre-pandemic) International Banking Canadian Banking Global Banking and Markets Global Wealth Management 1 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 47#48Prudent Allowances TOTAL ACLs1 ($MM) AND ACL RATIO² 109 bps 96 bps 82 bps 86 bps 80 bps 75 bps 72 bps 71 bps 6,893 23 6,232 1,691 22 5,731 5,095 5,583 23 5,375 20 5,295 5,499 17 1,529 20 28 28 1,368 1,326 1,255 1,114 1,276 1,368 2,056 2,009 1,386 1,863 1,723 1,595 1,532 1,528 2,578 3,123 2,672 2,477 2,514 2,505 2,459 2,575 Q1/20 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 (Pre-pandemic) 3 International Retail Canadian Retail Business Banking GWM/Other TOTAL PCLs ($MM) AND PCL RATIO4 51 bps 33 bps 22 bps 28 bps 24 bps 10 bps 13 bps 13 bps 18 771 496 250 145 503 396 380 339 69 168 314 222 219 1 274 (35) 276 412 93 325 529 11 9 163 355 (43) \(27) (96) (2) (1) `(50) (16) (1) (12) (46) (15) Q1/20 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 (Pre-pandemic) Q3/22 Q4/22 5 International Banking ■Canadian Banking ■Global Banking and Markets ■GWM/Other HIGHLIGHTS Balance sheet remained strong with allowances of $5.5 billion Prudent performing allowance of $3.8 billion to account for growth and uncertainty in economic outlook Total ACL ratio of 71 bps Secured Retail portfolio (Canada - 95%; International - 72%) Improving quality of Business Banking portfolios due to focus on investment grade clients HIGHLIGHTS Total PCL ratio of 28 bps, up 6 bps Q/Q о Higher performing PCLs driven by less favourable macroeconomic forecast and strong portfolio growth Impaired PCLS remained near historical lows 1 Includes ACLs on off-balance sheet exposures and ACLS on acceptances and other financial assets 2 ACL ratio defined as period end total ACLS (excluding debt securities and deposits with financial institutions) divided by gross loans and acceptances 3 Includes Allowance for credit losses in Other of $4 million (Q3/22: $5 million) 4 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 5 Includes provisions for credit losses in Global Wealth Management of $1 million (Q1/21: $4 million, Q2/21: -$2 million, Q3/21: -1$ million, Q4/21: $1 million, Q1/22: -$1 million, Q2/22: $1 million, Q3/22: $5 million) 48#49Canadian Retail: Loans and Provisions' 1 1 1 1 0 0 MORTGAGES AUTO LOANS 91 99 39 37 41 39 50 50 89 78 4 35 45 31 (6) (4) (5) Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 LINES OF CREDIT³ Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 CREDIT CARDS6 2016 62 70 33 41 36 48 51 48 48 45 60 57 32 28 (8) (6) 10 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 PCL as a % of avg. net loans (bps)² Loan Balances Q4/22 Spot ($Bn)4 % Secured 1 Includes Wealth Management Mortgages $302 100% पापा 410 380 322 288 244 267 268 234 321 310 204 241 116 (84) (55) (59) Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 PCLs on Impaired Loans as a % of avg. net loans (bps)² Auto Loans Lines of Credit³ $41 100% $34 65% Credit Cards $7 2% Total $387 95%5 2 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 3 Includes Home Equity Lines of Credit and Unsecured Lines of Credit 4 Includes Tangerine balances of $11 billion and other smaller portfolios 5 84% secured by real estate; 11% secured by automotive 6 Excluding one-time impact of fully provisioned write-offs, Q3/22 PCL ratio on impaired loans is 280 bps 49#50International Retail: Loans and Provisions MEXICO CHILE CARIBBEAN AND CENTRAL AMERICA 428 Markets with Greater 329 243 326 300 173 81 129 Weighting to 138 111 103 70 106 261 212 237 70 62 64 51 67 65 139 154 133 248 205 204 216 195 Secured 179 93 122 102 98 54 67 58 120 72 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 31 39 46 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 170 45 133 124 108 115 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 PERU COLOMBIA Markets with 2,436 1,588 1,338 Greater Weighting to 1,152 1,194 Unsecured 760 361 1,065 364 353 307 318 726 385 A 352 309 329 492 389 636 534 245 287 289 304 317 346 211 274 203 264 256 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 PCL as a % of avg. net loans (bps)1 PCLs on Impaired Loans as a % of avg. net loans (bps)1 Loan Balances Q4/22 Mexico Peru Chile Colombia Spot ($Bn) % Secured $16 89% $10 43% $27 80% $5 37% Caribbean & CA Total² $13 $72 76% 72% 1 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 2 Total includes other smaller portfolios 50#51Treasury and Funding 51#52Highlights Strong liquidity, stable funding • Strong liquidity well in excess of regulatory requirements o LCR1 of 119%, down 3% Q/Q and down 5% Y/Y o HQLA of $213Bn, up $2B Q/Q and up $16Bn Y/Y, is substantially comprised of Level 1 assets 。 Pacific Alliance countries LCRs of 141% - 159% • Stability of funding reflected in NSFR2 of 111% • 27.4% TLAC³ is above 24% regulatory minimum • Stable wholesale funding utilization o Wholesale funding of $292Bn, up $17B Q/Q (+$11Bn money market funding and +$6Bn term funding) and up $67Bn Y/Y o Wholesale funding / total assets increased 36 bps Q/Q to 21.6%, from 21.2% 。 Wholesale funding / total assets stabilizing below pre-pandemic levels 1 This measure has been disclosed in this document in accordance with OSFI Guideline - Public Disclosure Requirements for Domestic Systemically Important Banks on Liquidity Coverage Ratio (April 2015) 2 This measure has been disclosed in this document in accordance with OSFI Guideline - Public Disclosure Requirements for Domestic Systemically Important Banks on Net Stable Funding Ratio Disclosure Requirements (January 2021). 3 This measure has been disclosed in this document in accordance with OSFI Guideline - Public Disclosure Requirements for Domestic Systemically Important Banks on Total Loss Absorbing Capacity (TLAC) (September 2018). 52 62#53Funding Strategy Diversified funding sources . • Increase contribution from customer deposits Manage prudent level of wholesale funding utilization and TLAC² • Maintain balance between efficiency, stability of funding and pricing relative to peers • Diversify funding by type, currency, program, tenor and source/market Utilize a centralized (head office managed) funding and associated risk management approach 1 In addition to the programs listed, there are also USD senior private placements and CD programs in the following currencies: Yankee/USD, EUR, GBP, AUD, HKD 2 This measure has been disclosed in this document in accordance with OSFI Guideline - Public Disclosure Requirements for Domestic Systemically Important Banks on Total Loss Absorbing Capacity (TLAC) Requirements (September 2018). Funding Programs¹ Global Registered Covered Bond Program (uninsured Canadian mortgages) Limit CAD 100 billion US Debt & Equity Shelf (senior/subordinated debt, preferred and common shares) Limit USD 50 billion EMTN Shelf Limit USD 30 billion CAD Debt & Equity Shelf (senior/subordinated debt, preferred and common shares) Limit - CAD 15 billion START ABS program (indirect auto loans) Limit CAD 15 billion Australian MTN program Limit AUD 8 billion Singapore MTN program Limit USD 12 billion Halifax ABS program (unsecured lines of credit) Limit - CAD 7 billion Principal at Risk (PAR) Note shelf Limit CAD 15 billion Trillium ABS program (credit cards) Limit CAD 5 billion USD Bank CP Program Limit USD 35 billion 53#54Wholesale Funding Wholesale funding diversity by instrument and maturity 1,6,7 13% Senior Notes 25% Bail-inable Notes 0% Asset-Backed Securities -16% Covered Bonds Asset-Backed Commercial Paper³ 3% 29% Bearer Deposit Notes, Commercial Paper & Short-Term Certificate $292Bn 2% of Deposits 8% Mortgage Securitization4 -4% Subordinated Debt5 Deposits from Banks² TERM FUNDING MATURITY TABLE (EXCLUDING SUB DEBT AND MORTGAGE SECURITIZATION) (CANADIAN DOLLAR EQUIVALENT, $B) $41 7 $28 7 $24 $22 $21 4 9 $17 13 33 5 26 16 14 10 12 10 < 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, 2022 Annual Report to Shareholders. 7 May not add due to rounding. 54 54#55$222 Deposit Overview Continued growth both personal and non-personal deposits PERSONAL DEPOSITS1 (AVERAGE BALANCES, $Bn) • $261 $248 $241 $244 $244 $254 $226 $247 $245 $244 $237 3Y CAGR 5.6% $225 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 NON-PERSONAL DEPOSITS1 (AVERAGE BALANCES, $Bn) • PERSONAL DEPOSITS Important for both relationship purposes and regulatory value Initiatives are in place to drive deposit growth and retention Strong Q/Q growth in Canadian Banking deposits NON-PERSONAL DEPOSITS $387 $350 $331 $354 $363 • $296 $278 $376 $351 $360 Leveraging relationships to grow deposits with favourable regulatory value $338 $327 $280 3Y CAGR 11.7% Strong Q/Q growth in Global Banking and Markets deposits Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 1 Calculated as the sum of the average balances of the four business-line personal and non-personal deposits. 55#56Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 21.8% Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 MONEY MARKET WHOLESALE FUNDING / TOTAL WHOLESALE FUNDING 42.2% Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 31.1% 33.8% 56 Q3/21 21.6% 18.9% 17.6% Q4/21 Q1/22 Wholesale Funding Utilization Maintaining appropriate reliance on wholesale funding WHOLESALE FUNDING / TOTAL ASSETS 22.9% WHOLESALE FUNDING UTILIZATION WELL MANAGED Wholesale funding / total assets stabilizing below pre- pandemic levels Q2/22 Q3/22 Q4/22 • SUITABLE CONCENTRATION OF MONEY MARKET FUNDING Prudent utilization of short-term funding#57Key Metrics Well-funded with strong liquidity and stable funding Liquidity Coverage Ratio (LCR)1 • o Liquidity well in excess of regulatory requirements o LCR of 141-159% in Pacific Alliance countries High Quality Liquid Assets (HQLA) 。 Substantially comprised of Level 1 assets o +$2Bn Q/Q and +$16Bn Y/Y • Net Stable Funding Ratio (NSFR)² Public disclosure began Q1/21 138% 129% 129% 123% 124% 123% 125% 122% 119% Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 $210 $213 $201 $214 $211 $213 $205 $195 $198 Q4/20 Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 115% 112% 112% 110% 111% 108% 109% 109% 。NSFR is well in excess of 100% regulatory requirement Q1/21 Q2/21 Q3/21 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 1 This measure has been disclosed in this document in accordance with OSFI Guideline - Public Disclosure Requirements for Domestic Systemically Important Banks on Liquidity Coverage Ratio (April 2015) 2 This measure has been disclosed in this document in accordance with OSFI Guideline - Public Disclosure Requirements for Domestic Systemically Important Banks on Net Stable Funding Ratio Disclosure Requirements (January 2021). 57 57#58Appendix 1 Core Markets: Economic Profiles#59Economic Outlook in Core Markets Real GDP Growth Forecast (2022-24) Real GDP (Annual % Change) 2010- Forecast 1,2 Country 19 2020 2021 2022 2023 2024 Average Q1 Q2 Q3E Q4F Year Q1F Q2F Q3F Q4F Year Year Canada 2.3 (5.2) 4.5 2.9 4.6 3.3 2.1 3.2 1.3 0.4 0.5 0.3 0.6 1.4 U.S. 2.3 (3.4) 5.9 3.7 1.8 1.8 0.0 1.7 0.4 0.5 10 0.1 0.4 0.4 1.6 Mexico 2.7 (8.1) 4.8 1.8 2.0 4.2 1.1 2.3 0.7 0.8 0.5 1.8 1.0 1.9 Chile 3.3 (6.0) 11.7 7.4 5.6 0.3 (3.5) 2.1 (1.8) (2.9) (1.2) 2.0 (0.9) 2.8 Peru 4.5 (11.0) 13.3 3.8 3.3 1.7 2.3 2.8 1.9 3.0 1.8 2.8 2.4 2.2 Colombia 3.7 (7.0) 10.7 8.7 12.8 7.0 4.0 7.6 1.8 2.0 21 2.1 2.2 2.0 3.0 PAC Average³ 3.6 (8.0) 10.1 5.4 5.9 3.3 1.0 10 3.7 0.7 0.7 0.8 2.2 1.1 2.5 Source: Scotiabank Economics 1 Forecasts for Canada and U.S. as of the October 17, 2022 Scotiabank Economics Global Forecast Tables ² Forecasts for PAC countries as of the November 4, 2022 Scotiabank Economics Latam Weekly 3 Simple average 59#60Interest Rate Sensitivity NET INTEREST INCOME SENSITIVITY Impact of an immediate and sustained 100 bps parallel shift on net interest income over a 12-month period 100 bps increase: $340 million decrease in net interest income Canada POLICY RATE CHANGE AND OUTLOOK Change During Fiscal Quarters (bps) Current Policy Forecast Policy Rate Country Q1/22 Q2/22 Q3/22 Q4/22 Q1/232 Rate for Dec 31/223 Forecast Policy Rate for Dec 31/233 +75 +150 +125 - 3.75% 4.25% 4.00% ○ 100 bps decrease: $326 million increase in net interest income US Mexico Colombia +150 +200 - +25 +200 +75 +75 4.00% 4.50% 4.75% +75 +100 +125 +150 +75 10.00% 10.50% 10.50% +300 +200 11.00% 11.50% 9.00% • Above estimates assume a static balance sheet and no management actions¹ Peru +150 +150 +150 +100 Chile +275 +150 +275 +150 +25 7.25% 11.25% 7.25% 7.00% 11.25% 3.5% Balance sheet positioned to benefit from declining rates 5.0 INTEREST RATE ENVIRONMENT² Canada and U.S. Interest Rate Environment (%) 15.0 Mexico and Chile Interest Rate Environment (%) 4.0 10.0 3.0 2.0 5.0 1.0 0.0 0.0 Oct-19 Apr-20 Oct-20 Apr-21 Oct-21 Apr-22 Oct-22 Oct-19 BoC Overnight Rate Fed Funds Rate CAD 5-Yr Swap Rate USD 5-Yr Swap Rate Apr-20 Oct-20 Apr-21 Oct-21 Apr-22 Oct-22 Bank of Mexico Overnight Rate MXN 5-Yr Swap Rate Bank of Chile Monetary Policy Rate CLP 5-Yr Swap Rate 1 Additional detail regarding non-trading interest rate sensitivity can be found on page 228 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com 2 As of November 22, 2022 3 Source: Scotia Economics. US and Canada as at Oct 17, 2022 forecast, Pacific Alliance countries as at Nov 4, 2022 forecast 60 60#61Slowing Growth, Rising Inflation The global economic outlook has deteriorated owing to the combined impacts of central bank efforts to tame inflation, the consequences of Russia's war on Ukraine, pandemic management in China and the impact of higher energy prices. Concerns about potential slowdown and high inflation have led to very volatile financial markets, which have clouded the outlook further. Inflation remains a problem almost everywhere in the world, but is expected to decline gradually over coming quarters as the impact of higher interest rates is felt through economies. The speed at which inflation will decline will be mitigated by the impact of rising wages and their impact on service sector prices in particular. In Canada, we anticipate inflation will average 6.9% this year, slowing to a still above target 3.9% in 2023, before normalizing to 1.7% in 2024. In the US, we anticipate inflation will average 8.2% this year, 5.0% in 2023, and 2.1% in 2024. Similarly, continued price pressures support forecast of high and persistent inflation in Mexico, Chile, Colombia and Peru The Bank of Canada and Federal Reserve are nearing the end of their monetary policy tightening cycles. We assume that the Bank of Canada's policy rate peaks at 4.25% by the end of the year and that the Federal Reserve stops raising its target rate when it reaches 5% early next year. Central banks in the Pacific Alliance Countries have also been raising policy rates aggressively to counter inflationary pressures. This process is also nearing its end as the pace of economic expansion moderates. Canada: Bank of Canada Policy Rate vs Headline Inflation 25 Canada Unemployment Rate Latam Unemployment Rates %, SA 16 Latam PAC Inflation y/y % change Chile 14 987654 3 2 % 1 Headline inflation forecast 0 -1 Policy rate 18 19 20 21 22 23 24 14 % 12 10 10 Sources: Scotiabank Economics, Ban Rep, DANE. 8 9 4 20 15 10 5 Colombia Mexico Peru 4 620 06 +20 12 10 8 -2 Chile 2 Mexico Colombia Peru -4 15 16 17 18 19 20 21 22 0 10 12 14 16 18 20 22 Sources: Scotiabank Economics, Statistics Canada Sources: Scotiabank Economics, Haver Analytics. 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 Sources: Scotiabank Economics, Haver Analytics.#62Canadian Economy Diverse sources of growth with a strong balance sheet 20.3% Finance, Insurance, & Real Estate 15.0% Other 3.9% Transportation & Warehousing 6.6% Professional, Scientific, & Technical Services 6.9% CANADIAN GDP BY INDUSTRY (Aug.2022) Public Administration 12.5% Real GDP Growth Health & Education 7.3% 10.4% Wholesale & Retail Trade 9.3% Manufacturing 7.8% Mining and Oil & Gas Extraction Construction GDP 2022F: 3.2% GDP 2023F: 0.6% GDP 2024F: 1.4% ANNUAL % CHANGE 3 N U.S. 2010-2019 Canada Eurozone 2022F-2024F Avg. Sources: Scotiabank Economics, Haver Analytics, Statistics Canada. Forecasts as of Oct 17, 2022. General Government Net Debt % OF GDP Government Financial Deficits 0 U.K. Japan 2021 2022F -4 -6 (5.0) (2.2) (3.7) (3.3) (7.2) (3.6) (10.9) (4.0) (8.0) (4.3) (6.4) (5.1) (7.2) (5.4) (6.7) 168 173 138 135 -8 100 95 101 100 84 86 83 75 -10 % OF GDP 47 48 2021 2022F 32 31 -12 CA GE Adv. U.S. U.K. FR IT JN CA GE U.K. Adv. Econ. U.S. FR IT JN Econ. Sources: IMF Oct 2022 Fiscal Monitor. Calendar years shown. Scotiabank Economics, IMF Oct 2022 Fiscal Monitor, CBO. Calendar years shown. 62 62 (7.9)#63Public Debt Ratios in G7 Markets G7 General Government Gross Debt 300 % of GDP 250 200 150 100 50 0 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Canada (AAA) Italy (BBB) U.S. (AA+) France (AA) Japan (A+) Sources: Scotiabank Economics, IMF, Standard & Poor's. 200 % of GDP 17550 100 50 0 G7 General Government Net Debt -Germany (AAA) UK (AA) 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Canada (AAA) Italy (BBB) U.S. (AA+) France (AA) Japan (A+) Germany (AAA) UK (AA) Sources: Scotiabank Economics, IMF, Standard & Poor's. 63 63#64• Mexican Economy Solid mix of sectors Services and consumption are increasingly contributing to the domestic economy's recovery Trade with the U.S. is leading growth, but Mexico's diversification agenda is also underpinned by 13 free-trade agreements with 50 countries that account for 43% of global GDP and include all G7 countries The authorities' fiscal and debt indicators remain reasonable; efforts to boost tax collection could continue to be implemented GDP 2022F: 2.3% GDP 2023F: 1.0% GDP 2024F: 1.9% Sources: Scotiabank Economics, Bloomberg, as of Nov 4, 2022. Contributions to Mexican GDP Growth Other MEXICAN GDP 16.5% Finance, Insurance, & Real Estate 13.4% 6.2% Health & Education 18.8% Wholesale & Retail Trade 16.6% Manufacturing 6.3% Mining and Oil & Gas Extraction 6.0% Construction 3.4% Natural Resources 6.9% Transportation & Warehousing 2.1% BY INDUSTRY* (Q2-2022) Professional, Scientific, & Technical Services 3.8% Public Administration * Q3-2022 real GDP growth 4.2 y/y. Industry GDP breakdown is not yet available for Q3-2022. Top Trading Partners* 24 y/y % change 20 16 Other* Inventories 12 Government 8 Real GDP 4 Net Exports Investment Consumption -4 -8 -12 -16 -20 19 18 *Statistical discrepancy, subject to revision. Sources: Scotiabank Economics, Haver Analytics. 20 21 22 South Korea 2% Others 15% Canada 4% United States EU 8% 60% China 11% * Q3-2022 real GDP growth 4.2% y/y. National accounts breakdown not yet available for Q2-2022. * Trade data updated as of Q2-2022. 64#65Chilean Economy Advanced economy with wide-ranging trade links • • Chile's mix of economic activities reflects its status as an advanced OECD economy Chile's diversified trading relationships are supported by 30 free-trade agreements with 70 countries that account for 88% of global GDP Public support for households and businesses has powered a strong rebound in consumption GDP 2022F: 2.1% GDP 2023F: -0.9% GDP 2024F: 2.8% Sources: Scotiabank Economics, Bloomberg, as of Nov 4, 2022. 40 40 Contributions to Chilean GDP Growth 14.4% Finance, Insurance, & Real Estate 10.3% Other 1.9% Restaurants & Hotels 9.1% Transportation & Warehousing 3.6% Natural Resources CHILEAN GDP BY INDUSTRY (Q2-2022) 20.3% Housing & Personal Services 9.8% Wholesale & Retail Trade Top Trading Partners* 9.0% Manufacturing 10.6% Mining and Oil & Gas Extraction 6.2% Construction 4.7% Public Administration 30 20 10 10 0 -10 -20 y/y % change Net Exports Investment Consumption Inventories Government Real GDP ་ 19 20 Sources: Scotiabank Economics, Haver Analytics. -30 18 21 24 22 22 Japan 5% Others 28% China 31% Brazil 7% EU 10% United States 19% * Trade data updated as of Q2-2022. 65 59#66Peruvian Economy Resilient economic fundamentals Peru's important resource sectors are increasingly balanced by stronger service-sector activity and solid economic fundamentals Peru has 18 free-trade agreements with 52 countries that account for 66% of global GDP Government spending, transfer programs, and pension withdrawals helped to bolster a rebound into 2022 12.9% Manufacturing 10.4% Wholesale & Retail Trade Other 49.6% PERUVIAN GDP BY INDUSTRY (Q2-2022) GDP 2022F: 2.8% GDP 2023F: 2.4% GDP 2024F: 2.2% Sources: Scotiabank Economics, Bloomberg, as of Nov 4, 2022. 50 y/y % change 40 30 20 10 -10 -20 འཱུ ླ ྨ ༅༠པྟཱཿ ༞ ༞ -30 -40 Contributions to Peruvian GDP Growth Net Exports Inventories Government Investment Consumption Real GDP 19 20 18 Sources: Scotiabank Economics, Haver Analytics. 21 21 22 22 10.7% Mining, Oil, & Gas 6.3% Construction 1.8% Electricity & Water 8.2% Top Trading Partners* China 28% Others 38% Japan 4% Brazil4% * Trade data updated as of Q2-2022. Natural Resources United States 16% EU 10% 66 99#67Colombian Economy Strong underlying momentum . Growth prospects have solidified as the re-opening has progressed Colombia continues to build on its 17 free-trade agreements with 65 countries that account for 41.7% of global GDP Services and consumption, reflecting an expanding middle class, account for rising shares of Colombian GDP compared with traditional strengths in extractive industries GDP 2022F: 7.6% GDP 2023F: 2.0% GDP 2024F: 3.0% 13.6% Finance, Insurance, & Real Estate 9.2% Other 5.9% Natural Resources 3.7% Arts & Entertainment 18.0% Wholesale, Retail Trade, Accommodation & Food Services 12.3% Manufacturing 3.1% Information & Communication COLOMBIAN GDP BY INDUSTRY (Q1-2022) 7.0% Professional, Scientific, & Technical Services 15.7% 6.7% Mining and Oil & Gas Extraction 4.7% Construction Public Administration Sources: Scotiabank Economics, Bloomberg, as of Nov 4, 2022. Contributions to Colombian GDP Growth 10 2505 y/y % change 15 0 -5 -10 -15 -20 -25 18 Other* Investment Consumption Net Exports Government Real GDP 19 20 21 *Statistical discrepancy, subject to revision. Sources: Scotiabank Economics, Haver Analytics. 22 22 Top Trading Partners* United Others States 31% 26% Brazil 5% China Mexico 5% 19% EU 14% * Trade data updated as of Q2-2022. 20 67#68Appendix 2 Canadian Economic Fundamentals#69CA: Consumer and Business Activity 95 90 85 80 19Q4 2001 2002 110 Index, 2019Q4 = 100 105 Jan 13, 2020 forecast 100 2003 Key Economic Indicators index, Feb 2020 levels 100 42004 21Q1 21Q3 m. 21Q2 2104 22Q1 22Q2 22Q3 22Q4 23Q1 23Q2 23Q3 23Q4 24Q1 24Q2 24Q3 24Q4 Dec-21 Feb-22 60 Oct 17, 2022 forecast 50 GDP Getting Back on Track ៩ ៦ 8 8 ៩ ៩ ៩ ៩ ៩ 100 140 180 160 Feb-20 Apr-20 Jun-20 Aug-20 Oct-20 Dec-20 Auto Sales Mfg Shipments Exports Sources: Scotiabank Economics, Bloomberg. Feb-21 Apr-21 Jun-21 Housing Starts Retail Sales Aug-21 Oct-21 Apr-22 Jun-22 Aug-22 Oct-22 Employment 80 Manufacturing PMI 85 30 40 80 index, > 50 = stronger 70 Business Confidence - CFIB Business Barometer 3-month moving average 6-month moving average Avg. 2011- present ཨ 20 11 12 13 14 15 Sources: Scotiabank Economics, CFIB. 16 17 18 19 20 21 2 22 22 Labour Market Recovery Canada Fully Recovers Lost Jobs 105 Feb. 2020=100 66 % 65 100 64 95 63 62 90 Feb-20 Apr-20 Jun-20 Aug-20- Oct-20 Dec-20 Feb-21- Apr-21- Jun-21- Aug-21- Oct-21- Dec-21- Feb-22- Apr-22- Jun-22 Aug-22- Oct-22- Sources: Scotiabank Economics, Statistics Canada. 59 60 Feb-20 61 Headline index Canada's Labour Force Participation Rate Apr-20 Jun-20 Aug-20 Oct-20 Dec-20 Feb-21 Apr-21] Jun-21 Aug-21 Oct-21 Dec-21 Feb-22 Apr-22] Jun-22 Aug-22 Oct-22] 69#70CA: Demographics and Housing Market Population Growth Rebounding 2.0 annual % change Canada -Euro Area 1.5 Japan France 1.0 0.5 0.0 -0.5 Immigration Pushing to Record Levels 600 000s United States United Kingdom Italy 500 400 Annual Average Immigration 300 200 100 ul Proposed Immigration 0 -1.0 08 09 10 11 12 13 Sources: Scotiabank Economics. 14 15 16 17 18 19 20 21 22 70s 80s 90s 00s 17 18 19 20 21 Sources: Scotiabank Economics, Statistics Canada, Ministry of Immigration, Refugees & Citizenship Canada. 22 23 24 25 Canadian Residential Housing Inventory Rising 12 months of inventory, SA 10 8 6 4 2 плитать Housing Supply Still Tight in Key Markets Toronto Vancouver 18 8 units per 10,000 pop., end of period 16 units per 10,000 pop., end of period Multi-Unit Multi-Unit 14 Single-Detached 6 Single-Detached 12 2002-20 10 average 1992-2020 8 average 6 2 4 20 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 92 96 00 04 08 12 16 20 02 04 06 08 10 12 14 16 18 20 Sources: Scotiabank Economics, Statistics Canada. 70 10#71CA: Growth in Household Credit • Total household credit growth, in annual nominal terms, had slowed considerably since the 2007 peak of 13.4% y/y. Household credit growth has picked up rapidly throughout 2021 and into 2022, but is now showing early signs of peaking, with recent figures at 8.5% y/y for the rolling quarter ending Aug. 2022. Consumer loans excluding mortgages (i.e., cards, HELOCs, unsecured lines, auto loans, etc.) grew by 5.0% y/y for the rolling quarter ending Aug. 2022. Consumer loan growth has trended downward since late-2000 highs of over 16.6% y/y and declined further during the pandemic on refinancing into secured credit, but recent quarters are still showing signs of strong consumer demand and spending strength. • Mortgage credit grew at 9.3% y/y in the rolling quarter ending Aug. 2022 vs the 2007 peak of 14.1% y/y. Signs of slowing mortgage growth are showing amidst higher rates. Household Credit Growth 20 %, 3-month moving average y/y % 15 change Consumer Loan Growth Residential Mortgage Growth %, 3-month moving average 20 25 %, 3-month moving average 20 y/y% change 15 y/y % change 15 10 5 10 10 0 -5 5 m/m% change, SA -10 m/m% change, SA 5 m/m% change, SA -15 0 -20 01 03 05 07 09 11 13 15 17 19 21 Sources: Scotiabank Economics, Statistics Canada. 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 19 21 Sources: Scotiabank Economics, Statistics Canada. 71#72CA: Housing Finances More than Half of Canadian Households Don't Have a Mortgage or HELOC [% of households (2020 est.) 5-Year Mortgage Rates Resetting Higher 4430225050 250 5-year difference, basis points with HELOC 200 11.5 150 100 1.9 50 0 -50 32.8 15 29.1 -100 24.3 -150 10 -200 15 16 17 18 Owned dwelling w/ mortgage Owned dwelling w/o mortgage Sources: Scotiabank Economics, Mortgage Professionals Canada. Higher Home Equity in Canada 80 equity as % of real estate assets 75 70 Cda estimate incl. HELOCS 65 60 55 Official FRB with NFPS (incl. HELOCs) 45 50 58 Rented 19 20 21 forecast* 22 23 24 *Based on Scotiabank Economics forecast of 5-year government of Canada bond yields and historical spreads between the conventional 5-year mortgage rate and the GoC 5-year bond yield. Sources: Scotiabank Economics, Bank of Canada. Canadian Mortgage Delinquencies Declining 10 % of total loans past due three Official (excl. HELOCs) or more months 8 U.S. estimate with NFPS 6 excl. HELOCS 40 40 92 94 96 98 00 02 04 06 08 10 12 14 16 18 20 Sources: Scotiabank Economics, OSFI, FCAC, Statistics Canada, Federal Reserve Board. 4 2 U.S. + foreclosures U.S. Canada 0 222 22 92 94 96 98 00 02 04 06 08 10 Sources: Scotiabank Economics, MBA, CBA. 12 14 16 18 20 22 72#73CA: Household Finances 30 25 20 15 10 5 0 Household Savings Ratios Still Elevated % of disposable income, SAAR чит Household Credit-Market Debt Has Levelled Off 200 180 160 140 80 2886 120 100 -5 92 94 96 98 00 02 04 06 08 10 12 60 14 16 18 20 22 Sources: Scotiabank Economics, Statistics Canada. Ratio of Household Assets to Liabilities Rising 750 % 700 650 600 550 500 450 400 350 92 94 96 98 00 02 04 06 Sources: Statistics Canada, Federal Reserve Board. Canada U.S. % of disposable income, SAAR Adjusted Canadian Official U.S. -- Official Canadian 92 94 96 98 00 02 04 06 08 10 12 14 16 18 20 22 Sources: Scotiabank Economics, Statistics Canada, BEA, Federal Reserve Board. Household Debt-Service Ratios Tempered 16 % of disposable income, SAAR 14 12 10 8 Debt service ratio 6 (interest only) 4 2 Debt service ratio (principal and interest) Debt service ratio (principal only) 0 222 20 22 92 94 96 98 00 02 04 08 10 12 Sources: Scotiabank Economics, Statistics Canada. 06 14 16 18 20 20 22 22 08 10 12 14 16 18 20 73#74Appendix 3 Bail-in and TLAC#75Canadian 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 75 75#76Canadian 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 Deposits Other senior liabilities Senior debt subject 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 76#77Summary 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 deposits¹, debt with original term < 400 days, ABS / covered bonds, structured notes², derivative liabilities, other liabilities November 1, 2021 24.0% minimum risk-based TLAC ratio as of November 1, 2021 (21.5% plus a 2.5% Domestic Stability Buffer) 6.75% minimum TLAC leverage ratio Regulatory capital³ + bail-in debt with remaining term to maturity > 1 year4 All senior instruments issued prior to September 23, 2018, are to subject to bail-in unless renegotiated 1. Federal authorities bring bank into resolution 2. Full conversion of bank's NVCC instruments must occur prior to or concurrently with bail-in Equity conversion - Include disclosure related to the conversion power in any agreement governing an eligible liability as well as any accompanying offering document - Include a clause in the contractual provisions governing any eligible liability through which investors provide express submission to the Canadian bail-in regime - TLAC and TLAC leverage ratios are disclosed in the Bank's Quarterly Report and Supplementary Regulatory Capital Disclosures Bail-in is not the only path in Canada to resolve a failing bank. Canadian authorities retain full discretion to use other powers including "vesting order", "receivership order", "bridge bank resolution order", etc. • Equity conversion under the Canadian bail-in regime has the potential to result in realizable value in excess of principal amount 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 77#78Appendix 4 Covered Bonds#79Global Registered Covered Bond Program Highlights • Able to issue across multiple currencies such as CAD, USD, EUR, GBP, AUD and CHF ⚫ CAD$48.1 billion outstanding1 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 Law Scotiabank Covered Bond Guarantor Limited Partnership Payments of interest and principal in respect of the covered bonds are irrevocably guaranteed by the Guarantor. The obligations under the Covered Bond Guarantee constitute direct obligations of the Issuer and are secured by the assets of the Guarantor, including the Portfolio. The covered bonds will constitute legal, valid and binding direct, unconditional, unsubordinated and unsecured obligations of the Bank and will rank pari passu with all deposit liabilities of the Bank without any preference among themselves and at least pari passu with all other unsubordinated and unsecured obligations of the Bank, present and future. CAD $100 billion² Aaa / AAA / AAA (Moody's / Fitch / DBRS) First lien uninsured Canadian residential mortgage loans with LTV limit of 80% 94.8% Ontario, Canada 144A/Reg S (UKLA Listed) Issuance Format 1 As at October 31, 2022. 2 Effective April 6, 2021, OSFI limit for issuance is 5.5% of Total Assets. 79#80Global Registered Covered Bond Program¹ Portfolio Summary Statistics 10% LOAN-TO-VALUE RATIOS² 50% 33% CREDIT SCORES³ 64% 5% <1% <1% 2% 17% 7% 11% 0-20% 20-40% 40-60% 60-80% 80+% <599 600-650 651-700 701-750 751-800 800+ REMAINING TERM DISTRIBUTION (MONTHS) 29% 20% 17% 9.3% Alberta 0.2% Territories 2.0% Saskatchewan 14% 1.9% 11% 9% Quebec <12 12-23.99 24-35.99 36-41.99 42-47.99 48+ 0.2% P.E.I. PROVINCIAL DISTRIBUTION 1 As at October 31, 2022. Charts may not add due to rounding 2 Uses indexation methodology as outlined in Footnote 1 on page 3 of the Scotiabank Global Registered Covered Bond Monthly Investor Report 3 Excludes unavailable credit scores 1.2% 22.1% British Columbia 59.3% Manitoba 1.7% 0.8% New Brunswick 1.3% Newfoundland Nova Scotia Ontario 80#81Canadian 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 • Amortization Test Overcollateralization Reserve Fund Covered bond swap, forward starting Swaps • Interest rate swap, forward starting Valuation calculation Market Risk Reporting • Mandatory property value indexation Covered Bond Supervisory Body • CMHC Requirement to Register Issuer and Program • Yes; prior to first issuance of the covered bond program Registry • Yes Disclosure Requirements • Monthly investor report with prescribed disclosure requirements set out by CMHC Investor reports must be posted on the program website 81#82Appendix 5 Additional Information#83Additional Information Scotiabank Listings: Toronto Stock Exchange (TSX: BNS) New York Stock Exchange (NYSE: BNS) Scotiabank Credit Ratings Scotiabank Common Share Issue Information: 064149107 CA0641491075 • CUSIP: • ISIN: • FIGI: BBGOOOBXSXH3 . NAICS: 522110 Moody's Investors Services Dominion Bond Standard & Poor's Fitch Ratings Rating Service Ltd. Legacy Senior Debt¹ Aa2 A+ AA AA Senior Debt² A2 A- AA- AA (low) Subordinated Debt (NVCC) Baa1 (hyb) BBB+ A A (low) Subordinated Additional Tier 1 Capital Baa3 (hyb) BBB- BBB+ BBB (high) Notes (NVCC) Limited Recourse Capital Notes (NVCC) Baa3 (hyb) BBB- BBB+ BBB (high) Short Term Deposits/Commercial Paper P-1 A-1 F1+ R-1 (high) Covered Bond Program Aaa Not Rated AAA AAA Outlook Stable Stable Stable 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 83 83#84Contact Information Investor Relations John McCartney Senior Vice President 416-863-7579 [email protected] Mark Michalski Director 416-866-6905 [email protected] Sophia Saeed Vice President 416-933-8869 [email protected] Rene Lo Director 416-866-6124 [email protected] Funding Martin Weeks EVP and Group Treasurer 416-933-3728 [email protected] Darren Potter Managing Director 416-860-1784 [email protected] 84 -