Trading Results & Economic Outlook

Global Banking and Markets YEAR-OVER-YEAR HIGHLIGHTS $MM Q4/20 Y/Y Q/Q . Reported Net Income¹ $460 +14% (23%) Pre-Tax, Pre Provision Profit $627 +16% (32%) Revenue $1,210 +3% (22%) Expenses $583 (8%) (6%) PCLS $62 N/A (58%) Productivity Ratio 48.2% (580 bps) +810 bps PCL Ratio² 0.24% +22 bps (26 bps) PCL Ratio Impaired Loans² 0.13% +8 bps • Expenses down 8% 1 Attributable to equity holders of the Bank 2 Includes provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures 3 Refer to Non-GAAP Measures on slide 40 for adjusted results • Net income up 14% 。 Strong trading revenues Revenue up 3% o Net Interest income up 4% o Non-interest income up 3% Deposits up 37% and loans grew 3% Improved productivity ratio by 580 bps Positive FY20 operating leverage of 20%; adjusted operating leverage³ of 22% PCL ratio² of 24 bps ADJUSTED NET INCOME ¹³ ($MM) AND ROE³ (%) 13.8% 14.0% 15.4% 17.5% 14.6% 600 523 405 451 460 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 11

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