Q4 2019 Financial Performance

Global Registered Covered Bond Program Global Covered Bond Program: CAD$38 billion • Active in multiple currencies: USD, EUR, GBP, AUD and CHF ⚫ CAD$26 billion outstanding vs. $38 billion program size Extensive regulatory oversight and pool audit requirements • Mandatory property value indexation • Established high level of safeguards and 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 Issuance Format 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 $38 billion Aaa/ AAA / AAA (Moody's / Fitch / DBRS) First lien uninsured Canadian residential mortgage loans with LTV limit of 80% 94.8% (5.5% minimum overcollateralization) Ontario, Canada 144A/Reg S (UKLA Listed) 81

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