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Investor Presentaiton

Canadian Banking $MM Q4/22 Y/Y Q/Q Reported Net Income¹ $1,170 (5%) (4%) Pre-Tax, Pre-Provision Profit² $1,737 10% Revenue $3,134 11% Expenses $1,397 12% PCLS $163 nmf 1% 74% Productivity Ratio³ 44.6% 40 bps 20 bps Net Interest Margin4 2.26% 6 bps (3 bps) PCL Ratio³ 15 bps 25 bps 6 bps PCL Ratio on Impaired Loans³ 14 bps 4 bps 1 bp Adjusted4 Net Income¹ $1,174 (5%) (4%) Pre-Tax, Pre-Provision Profit $1,743 10% Expenses $1,391 12% 1% Productivity Ratio 44.4% 40 bps 20 bps REPORTED NET INCOME¹ ($MM) AND NIM (%) 2.20% 2.19% 2.22% 2.29% 2.26% 1,238 1,201 1,179 1,213 1,170 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 1 Attributable to equity holders of the Bank YEAR-OVER-YEAR HIGHLIGHTS Net income down 5% o Pre-tax, pre-provision profit up 10% o Higher PCLS reflect less favourable macroeconomic outlook and allowance releases in the prior year Revenue up 11% 。 Net interest income up 13% o Strong loan and deposit growth o Margin expansion 。 Non-interest revenue up 3% NIM up 6 bps but down 3 bps Q/Q o Q/Q decline due primarily to lower loan spreads partially offset by higher deposit spreads Expenses up 12% o Higher technology and personnel costs Adjusted FY22 operating leverage³,4 of +1.5% (Reported +1.6%) Loan growth of 12% o Business loans up 25% o Residential mortgages up 11% Deposit growth of 7% o Personal deposits up 8% o Non-personal deposits up 6% 2 Pre-Tax, Pre-Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 43 3 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 4 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com 8
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