Investor Presentaiton

(1) (2) (3) Other Segment¹ 2,3 Net Income ($MM) 72 32 117 12 1 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Year-over-Year Highlights 3 Net income was lower because of lower contributions from asset/liability management activities and higher expenses. An increase in the collective allowance against performing loans, was offset by lower post- retirement benefit costs Includes Group Treasury, smaller operating segments, and other corporate items which are not allocated to a business line. The results primarily reflect the net impact of asset/liability management activities Attributable to equity holders of the Bank Excluding restructuring charge of $278 million after-tax ($378 million before-tax) in Q2/16 13 Scotiabank®

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