Global Wealth Management Update

Q1 2023 Financial Performance YEAR-OVER-YEAR HIGHLIGHTS Adjusted EPS down 14% (reported down 36%) o Reported earnings includes the impact of the Canada Recovery Dividend Adjusted pre-tax, pre-provision profit down 8% Revenue down 1% 。 Net interest income up 5%, due primarily to strong asset growth across all business lines 。 Non-interest income down 8% mainly due to lower wealth management revenues and underwriting and advisory fees NIM down 5 bps (down 7 bps Q/Q) o Higher funding costs offset by higher margins in Canadian Banking and International Banking Expenses up 6% o Unfavourable FX translation combined with higher personnel costs driven by inflation, and technology costs to support business growth PCL ratio is in line with outlook REPORTED NET INCOME4 BY BUSINESS SEGMENT ($MM) $MM, except EPS Q1/23 Y/Y Q/Q Reported Net Income $1,772 (35%) (15%) Pre-Tax, Pre-Provision Profit¹ $3,516 (8%) 14% Diluted EPS $1.36 (36%) (17%) Revenue $7,980 (1%) 5% Expenses $4,464 6% (1%) Productivity Ratio² 55.9% 340 bps Net Interest Margin³ 2.11% (5 bps) (350 bps) (7 bps) PCL Ratio² 33 bps 20 bps 5 bps PCL Ratio on Impaired Loans² 29 bps Return on Equity² 9.9% 5 bps (590 bps) 3 bps (200 bps) Adjusted³ Net Income $2,366 (14%) (10%) Pre-Tax, Pre-Provision Profit $3,537 (8%) (4%) • Diluted EPS $1.85 (14%) (10%) Revenue $7,980 (1%) Expenses $4,443 6% 4% Productivity Ratio 55.7% 350 bps Return on Equity 13.4% (250 bps) 200 bps (160 bps) . REPORTED NET INCOME YEAR-OVER-YEAR ($MM) 225 -9% (294) (416) ■■Q1/22 Q1/23 +18% (241) - -7% (242) - -7% -> 2,740 1,201 1,087 1,772 412 561 519 555 654 385 Q1/22 Net interest Non-interest Income PCLS income Non-interest expenses Taxes Q1/23 Canadian Banking Global Wealth Management Global Banking and Markets 1 Pre-Tax, Pre-Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 41 International Banking (Constant FX) 2 Refer to page 50 of the Management's Discussion & Analysis in the Bank's First Quarter 2023 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto 3 Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's First Quarter 2023 Report to Shareholders, available on http://www.sedar.com 4 Attributable to equity holders of the Bank 6

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