Investor Presentaiton

Q4 2018 Financial Performance Strong revenue growth and higher NIM $MM, except EPS Q4/18 Y/Y Q/Q Reported Net Income $2,271 +10% +17% Diluted EPS $1.71 +4% +10% • Revenue $7,448 +9% +4% • Expenses $4,064 +11% +8% Productivity Ratio 54.6% +80bps +210bps Core Banking Margin 2.47% +3bps +1bp PCL Ratio 1,2 39bps (3bps) (30bps) PCL Ratio on Impaired Loans 1, 2 42bps +1bp Adjusted³ · Net Income $2,345 +13% +4% • Diluted EPS $1.77 +7% +1% Expenses $3,962 +9% +6% Productivity Ratio 53.2% (40bps) +140bps PCL Ratio 1, 2 39bps (3bps) (1bp) DIVIDENDS PER COMMON SHARE 0.03 0.03 0.79 0.79 0.82 0.82 0.85 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 ■ Announced Dividend Increase YEAR-OVER-YEAR HIGHLIGHTS Adjusted Net Income up 13%³ Revenue up 9% 。 Net interest income up 10% 。 Non-interest income up 8% 3 Expenses up 9%³ Productivity ratio improved 40 bps³ Flat PCL ratio¹, 2 on impaired loans 12018 amounts are based on IFRS 9. Prior period amounts were based on IAS 39 2 Provision for credit losses on certain assets-loans, acceptances and off-balance sheet exposures 3 Adjusted for Acquisition-related costs, including integration and amortization costs related to current acquisitions, amortization of intangibles related to current and past acquisitions and the Day 1 PCL impact on acquired performing loans in Q3/18 Scotiabank® 16

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