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Investor Presentaiton

International Banking Constant dollar basis 1,5 $MM Q4/22 Q4/21 Y/Y1 Q3/22 Q/Q¹ • Reported • Net Income² $643 $515 25% $621 4% • Pre-Tax, Pre-Provision $1,140 $1,044 9% $1,115 2% Profit³ Revenue $2,504 $2,322 8% $2,426 3% Expenses $1,364 $1,278 7% $1,311 4% PCLS $355 $323 10% $328 8% Productivity Ratio4 54.5% 54.3% 20 bps 53.5% 100 bps Net Interest Margin 5,6 4.08% 3.78% 30 bps 3.95% 13 bps • PCL Ratio4 89 bps 91 bps (2 bps) 84 bps 5 bps PCL Ratio Impaired Loans4 81 bps 118 bps (37 bps) 68 bps 13 bps • Adjusted5 Net Income² $650 $521 25% $628 4% Pre-Tax, Pre-Provision $1,149 $1,054 9% $1,124 2% • Profit Expenses $1,355 $1,268 7% Productivity Ratio 54.1% 53.9% 20 bps $1,302 53.2% 4% 90 bps • YEAR-OVER-YEAR HIGHLIGHTS1 Net income² up 25% (up 4% Q/Q) Pre-tax, pre-provision profit up 9% Revenue up 8% o Net interest income up 11%, driven by strong loan growth and margin expansion o Non-interest income was stable as higher banking fees (+6%) was offset by lower securities and investment gains Expenses up 7%; adjusted FY22 operating leverage 4,5 of +1.8% (reported +1.9%) NIM up 13 bps Q/Q o Asset repricing faster than the increase in funding costs and changes in deposit mix Loans up 12% (up 2% Q/Q) 。 Mortgages up 16% Y/Y and commercial up 12% Y/Y o Retail loans up 3% Q/Q and commercial up 2% Q/Q PCLs up 10%, PCL ratio down 2 bps REPORTED NET INCOME² ($MM) AND NIM6 (%) 3.78% 3.87% 3.96% 3.95% 4.08% 515 544 588 621 643 1 Y/Y and Q/Q growth rates (%) are on a constant dollar basis, while metrics and change in bps are on a reported basis 2 Attributable to equity holders of the Bank, on a constant dollar basis Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 3 Pre-Tax, Pre-Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 43 4 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 11 5 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com 6 Prior period has been restated to include as a deduction non-interest bearing deposits with banks, to align with the Bank's definition
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