Increasing Scale, Improving Focus

Other Regions Leading Caribbean & Central American franchise. Reducing portfolio investments in Asia. • Caribbean & Central America 。 Operations in 16 countries contributing - CAD$0.7B in earnings in 2018 。 Well-established, diversified franchise that serves retail, commercial and corporate customers ○ Actively managing footprint to ensure scale in larger growth markets and reduce risk profile: ○ О О Announced acquisition in Dominican Republic in August 2018 which doubles customer base and creates 4th largest bank Announced sale of operations in 9 smaller countries in Caribbean in November 2018 Announced sale of pension and insurance operations in the Dominican Republic in December 2018 Announced sale of banking and insurance operations in El Salvador in February 2019 o Recognized by Global Finance Magazine as: • Asia "Best Bank Award 2017" in the Bahamas, Barbados, Costa Rica, Turks & Caicos and U.S. Virgin Islands; "World's Best Consumer Digital Bank 2017" in 24 countries across Latin America and the Caribbean; and "Best in Mobile Banking" in the Caribbean region ○ Thailand: 49% interest in Thanachart Bank (2007) ○ Announced non-binding MOU in February 2019 to merge with Thai Military Bank and materially reduce interest O CAD$3.0B carrying value as of October 31, 2018 ○ CAD$590MM of net income for twelve months ended October 31, 2018 。 China: 19.9% interest in Bank of Xi'an (2009) ○ CAD$772MM carrying value as of October 31, 2018 CAD$456MM of net income for twelve months ended October 31, 2018 Scotiabank® 37

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