Investor Presentaiton

Capital Strong Position - - Basel III Common Equity Tier 1 (CET1) (%) 11.0 10.3 10.1 10.1 10.5 IIII Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 CET1 Risk-Weighted Assets ($B) 1 Q1/16 Q2/16 Q3/16 Q4/16 358 Q4/15 374 364 357 358 • • • • Highlights Strong internal capital generation coupled with modest net RWA growth Other capital benefits (eg. pension and stock option exercises) Annual dividend payment of $2.88, up 6% Y/Y CET1 risk-weighted assets increased $6 billion Q/Q • Primarily driven by impact of a weaker Canadian dollar on foreign currency denominated risk weighted assets Higher credit risk and operational risk weighted assets offset by lower market risk Leverage ratio of 4.5% Capital position is strong 7 Scotiabank®

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