Scotiabank Investment Thesis

Canada's International Bank Top 10 Bank in the Americas 1,2 Americas 7th largest bank by assets¹ 10th largest bank by market capitalization¹ Full-Service Canada Mexico . Peru • Chile Colombia Caribbean Uruguay Wholesale Operations USA UK Hong Kong Singapore Australia Ireland China • Brazil South Korea Malaysia India • Japan 2018 Bank of the Year Latin America and the Caribbean by Latin Finance Europe FY 2019 Scotiabank³ YTD Change YTD/YTD Revenue $15.2B 8% Net Income $4.6B Return on Equity 13.7% -190bps Operating Leverage4 -1.9% Productivity Ratio4 53.2% +90bps Total Assets $1.1T +14.2% Ranking by Market Share5 USMCA Canada USA #3 Top 10 Foreign Bank Asia PAC Mexico Peru Chile Colombia 菇菇菇菇 #6 #3 #3 #5 1 Source: Bloomberg May 25, 2019; 2 By assets and market capitalization; 3 Figures adjusted for Acquisition and divestiture-related amounts, including Day 1 PCLs, integration and amortization costs related to current acquisitions, amortization of intangibles related to current and past acquisitions and net gain on divestitures; 4 Exclude employee benefits re-measurement credit of $203MM pre-tax, $150MM after-tax in Q1/18; 5 Ranking based on market share in loans as of March 2019 for PACS, as of February 2019 in Canada for publically traded banks; 6 For the six months ended April 30, 2019 LEADING BANK IN THE AMERICAS Earnings by Geography3,6 Other- C&CA 9% 9% PAC 24% 9% 49% Canada U.S.A. Americas (>90%) Scotiabank® 5

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