Investor Presentaiton

Canadian Banking $MM Q1/20 Y/Y Q/Q • Reported Net Income¹ $852 (1%) (5%) Pre-Tax, Pre Provision Profit $1,474 +6% +1% Revenue $2,707 +5% +1% • Expenses $1,233 +4% +1% PCLs $321 +39% +30% Productivity Ratio 45.6% (30 bps) +20 bps Net Interest Margin 2.36% (3 bps) (5 bps) • PCL Ratio² 0.36% +8 bps +8 bps PCL Ratio Impaired Loans² 0.30% +2 bps +1 bp Adjusted³ . Net Income¹ $908 +5% +1% Pre-Tax, Pre Provision Profit $1,479 +5% +1% • Expenses $1,228 +4% +1% YEAR-OVER-YEAR HIGHLIGHTS Adjusted Net Income up 5%³ o Solid volume growth and higher fee income offsetting margin pressure o Stable PCL ratio Revenue up 5% 。 Net interest income up 4% o Non-interest income up 7% Loan growth of 6% o Residential mortgages up 5%; credit cards up 5% o Business loans up 12% Deposit growth of 5% o Personal up 5%; Non-Personal up 6% NIM down 3 bps • PCLS $250 +8% +1% Positive operating leverage of +0.9%³ • Productivity Ratio 45.4% (30 bps) +20 bps PCL Ratio² 0.28% Improved productivity ratio 1,3 ADJUSTED NET INCOME ¹³ ($MM) AND NIM (%) PCL Ratio Impaired Loans² 0.29% +1 bp 2.44% 2.39% 2.40% 2.41% 2.36% 1 Attributable to equity holders of the Bank 2 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures 3 Refer to Non-GAAP Measures on Slide 36 for adjusted results 865 823 914 902 908 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 7

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