Canadian Banking Financial Overview

Q3 2015 Financial Performance $ millions, except EPS Q3/15 Q/Q Y/Y1 Net Income $1,847 +3% +3% . Diluted EPS $1.45 +2% +4% • Revenues² $6,232 +3% +5% Expenses Productivity Ratio $3,334 +3% 53.5% +20bps +60bps +6% Core Banking Margin² 2.40% -1bps -1bps Dividends Per Common Share +$0.02 +$0.02 +$0.02 $0.68 $0.68 $0.66 $0.66 $0.64 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Announced dividend increase Excludes notable gain of $555 million after-tax in Q3/14 - (See Appendix - Notable Items) (1) (2) Taxable equivalent basis 6 • Highlights Diluted EPS growth of 4% Y/Y1 Revenue growth of 5% Y/Y1 Solid asset growth in CB and IB Positive impact of FX translation Higher fee income offset by lower net gains on investment securities and lower underwriting and advisory fees Stable core banking margin Expenses up 6% Y/Y Half the increase driven by acquisitions and negative impact of FX Volume-related expenses, technology and project spend to support business investments and efficiency initiatives Higher remuneration expenses offset by lower performance and share-based compensation Operating leverage of -1.1% YTD Scotiabank®

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