Earnings & Dividend Growth Presentation

NVCC vs. Bail-in • NVCC are regulatory capital instruments other than common shares that are converted to CET1 at non-viability • Authorities would trigger NVCC only where there was a high level of confidence that the conversion plus additional measures would restore the viability of the Fl • NVCC improves regulatory capital quality, not quantity ○ Conversion of NVCC increases CET1 but not total capital - a gap that Bail-in addresses NVCC is a prerequisite to Bail-in Scotiabank | 46

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