Investor Presentaiton

Canadian Banking Reported Net Income Adjusted Net Income ($MM) 1,2 ($MM) 1,326 534 829 863 829 863 • 751 792 • • • Highlights Adjusted net income up 15% Y/Y Loan growth of 3% Y/Y • • Ex. Tangerine run-off portfolio, up 6% Double digit growth in credit cards, auto and commercial lending Deposits up 3% Y/Y • Retail chequing and savings balances. up 9% and 8% respectively Small business and commercial operating accounts up 9% NIM up 8 bps Y/Y • . Higher spreads in personal lending Run-off of lower spread Tangerine mortgages AUM up 13% Y/Y and AUA up 7% Y/Y Higher PCLs due to growth in higher spread retail assets Expenses up 2% Y/Y Adjusted positive operating leverage of 3.2% YTD Strong volume growth and margin expansion Scotiabank® Q3/14 Q2/15 • Q3/15 Q3/14 Q2/15 Q3/15 Net after-tax notable item in Q3/14 Average Assets ($B) 292 295 297 298 301 17 16 14 13 12 275 279 283 285 289 Reported Net Interest Margin (%) 2.17 2.15 2.16 2.26 2.25 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Tangerine run-off mortgage portfolio Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 (1) Attributable to equity holders of the Bank (2) Adjusted for Cl gain and contribution and change in effective tax rate - (See Appendix - Notable Items) 8

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