Investor Presentaiton

Non-GAAP Measures The Bank uses a number of financial measures to assess its performance. Some of these measures are not calculated in accordance with Generally Accepted Accounting Principles (GAAP), which are based on International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), are not defined by GAAP and do not have standardized meanings that would ensure consistency and comparability among companies using these measures. The Bank believes that certain non-GAAP measures are useful in assessing ongoing business performance and provide readers with a better understanding of how management assesses performance. These non-GAAP measures are used throughout this report and defined below. The slide presentation presents reconciliations of GAAP Reported financial results to non-GAAP Adjusted financial results. The financial results have been adjusted for the following: Acquisition and divestiture-related amounts - Acquisition and divestiture-related amounts are defined as: 1) A) Acquisition-related costs 1. Integration costs - Includes costs that are incurred and relate to integrating the acquired operations and are recorded in the Global Wealth Management and International Banking operating segments. These costs will cease once integration is complete. The costs relate to the following acquisitions: • Banco Cencosud, Peru (closed Q2, 2019) Banco Dominicano del Progreso, Dominican Republic (closed Q2, 2019) • MD Financial Management, Canada (closed Q4, 2018) • Jarislowsky, Fraser Limited, Canada (closed Q3, 2018) Citibank consumer and small and medium enterprise operations, Colombia (closed Q3, 2018) BBVA, Chile (closed Q3, 2018) 2. Day 1 provision for credit losses on acquired performing financial instruments, as required by IFRS 9 and are recorded in the Canadian and International Banking operating segments. The standard does not differentiate between originated and purchased performing loans and as such, requires the same accounting treatment for both. These credit losses are considered Acquisition-related costs in periods where applicable. The costs for Q2, 2019 relate to Banco Cencosud, Peru and Banco Dominicano del Progreso, Dominican Republic. The costs for Q3, 2018 relate to BBVA, Chile and Citibank, Colombia. 3. Amortization of Acquisition-related intangible assets, excluding software. These costs relate to the six acquisitions above, as well as prior acquisitions and are recorded in the Canadian Banking, Global Wealth Management and International Banking operating segments. B) Net (gain)/loss on divestitures - The Bank announced a number of divestitures in accordance with its strategy to reposition the Bank. The net (gain)/loss on divestitures is recorded in the Other segment, and relates to the following divestitures (refer to Note 37 for further details): Operations in Antigua and Barbuda (announced Q4, 2020) • Operations in British Virgin Islands (closed Q3, 2020) • Operations in Belize (announced Q3, 2020) Equity-accounted investment in Thanachart Bank, Thailand (closed Q1, 2020) Colfondos AFP, Colombia (closed Q1, 2020) • Operations in Puerto Rico and USVI (closed Q1, 2020) Insurance and banking operations in El Salvador (closed Q1, 2020) Banking operations in the Caribbean (closed Q4, 2019) • Insurance and pension operations in the Dominican Republic (closed Q2, 2019) 2) Valuation-related adjustments, recorded in Q1, 2020-pre-tax $315 million - The Bank modified its allowance for credit losses measurement methodology by adding an additional, more severe pessimistic scenario, consistent with developing practice among major international banks in applying IFRS 9, and the Bank's prudent approach to expected credit loss provisioning. The modification resulted in an increase in provision for credit losses of $155 million which was recorded in Canadian Banking, International Banking, Global Wealth Management and Global Banking and Markets operating segments. The Bank enhanced its fair value methodology primarily relating to uncollateralized OTC derivatives which resulted in a pre-tax charge of $116 million. This charge was recorded in the Global Banking and Markets and Other operating segments. The Bank also recorded an impairment loss in the Other operating segment of $44 million pre-tax, related to one software asset. 40

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