Why Invest in Scotiabank?

Colombian Economy Strong underlying momentum • The 'new normal' re-opening scheme has led to reactivation of 95% of the economy Colombia continues to build on its 12 free-trade agreements with 46 countries that account for 41.1% of global GDP Services and consumption, reflecting an expanding middle class, account for rising shares of Colombian GDP compared with traditional strengths in extractive industries GDP Growth 2021F: 5.0% GDP Growth 2022F: 4.0% 14.2% Finance, Insurance, & Real Estate 9.5% Other 6.5% Natural Resources 2.8% Information & Communication 2.9% Arts & Entertainment COLOMBIAN GDP BY INDUSTRY (Q1 2021) 7.0% Professional, Scientific, & Technical Services 16.8% Wholesale, Retail Trade, Accommodation & Food Services 15.4% 12.3% Manufacturing 7.1% Mining and Oil & Gas Extraction 5.4% Construction Public Administration Top 5 Trading Partners* Contributions to Colombian GDP Growth 8 y/y % change 3 -2 -7 Other* -12 Government Net Exports Consumption Investment Real GDP -17 -22 17 18 *Statistical discrepancy, subject to revision. Sources: Scotiabank Economics, Haver Analytics. 19 20 20 United States Others 28% 42% China India 3% 17% Brazil Mexico 5% 5% * Trade data updated as of Q4-2020 62 62

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