Why Invest in Scotiabank?

Per cent -6 4 6 25,000 20,000 Jan 2007 Jan 2008 Jan 2009 Jan 2010 Jan 2011 Canadian Housing Market Higher interest rates and new regulations driving soft landing Volume of Home Sales Near 10-Year Average* 50,000 45,000 40,000 35,000 30,000 Monthly home sales* за 10-year monthly moving avg.* Per cent Significant Moderation in Price Growth* (Aggregate Composite MLS® Home Price Index Y/Y Percentage Change) 25 20 15 10 5 so Jan 2012 Jan 2013 Jan 2014 Jan 2015 Jan 2016 Jan 2017 Jan 2018 Jan 2019- *Actual - not seasonally adjusted Annual Price Change by Province* (Y/Y Percentage Change) ון *Actual - not seasonally adjusted January 2019 vs. January 2018 -8 -10 CA BC AB SK MB ON QC NB NS PE NF 1 Sources for charts and table: CREA; MLS® Home Price Index growth rates reported as non seasonally-adjusted y/y Per cent 6 8 -5 59 -10 Jan 2006 Jan 2007 Jan 2008 Jan 2009 Jan 2010 Jan 2011 Jan 2012 Jan 2013 Jan 2014 Jan 2015 Jan 2016 Jan 2017 Jan 2018 *Actual - not seasonally adjusted Canada's Five Largest Metropolitan Areas* (MLS® Home Price Index Benchmark Price Y/Y Percentage Change) 4 2.7 0 -2 -4 -4.52 -6 GTA GVA *Actual - not seasonally adjusted 6.32 Average -0.45 -2.88 -3.87 Montreal Calgary Edmonton Scotiabank® 40 40 Jan 2019

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