Scotiabank Financial Review Q2 2019

NET INCOME AND ADJUSTED DILUTED EPS RECONCILIATION Net Income ($MM) and EPS ($ per share) Net Income attributable to common shareholders Q2/18 Q1/19 Q2/19 $2,042 $2,107 $2,125 1 Dilutive impact of share-based $2 $41 $37 payment options and others Net Income attributable to common shareholders $2,044 $2,148 $2,162 • Weighted average number of common 1,198 1,226 1,224 shares outstanding Dilutive impact of share-based 1 5 29 28 payment options and others Weighted average number of diluted (2) 1,203 1,255 1,252 common shares outstanding Reported Basic EPS $1.70 $1.72 $1.74 Dilutive impact of share-based 2 ($0.01) ($0.01) payment options and others Reported Diluted EPS $1.70 $1.71 $1.73 Impact of Acquisition-related costs on $0.01 $0.04 ($0.03) diluted earnings per share1 Adjusted Diluted EPS $1.71 $1.75 $1.70 • Quarterly diluted common shares outstanding may be impacted by dilution on sold put options relating to the following legal entities: • Colpatria Colfondos BBVA Chile Canadian Tire Financial Services Impact on diluted EPS remains stable NCIB to repurchase up to 24 million common shares renewed effective June 4, 2019 1 Adjusted for Acquisition and divestiture-related amounts, including Day 1 PCLs, integration and amortization costs related to current acquisitions, amortization of intangibles related to current and past acquisitions and net gain on divestitures Scotiabank® 18

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