Investor Presentaiton

Global Banking and Markets Strong loan and deposit growth. Capital markets strength in Fixed Income. $MM, except EPS Reported Q4/19 Y/Y Q/Q YEAR-OVER-YEAR HIGHLIGHTS • Net Income down 3% Y/Y Net Income¹ $405 (3%) +8% . Revenue up 9% Pre-Tax, Pre Provision Profit $539 +4% +10% Revenue $1,170 +9% +8% • Expenses $631 +14% +6% PCLS $4 N/A N/A Productivity Ratio 54.0% +250 bps (70 bps) • Net Interest Margin 1.59% (13 bps) (2 bps) • PCL Ratio² 0.02% +11 bps +3 bps PCL Ratio Impaired Loans² 0.05% +12 bps +6 bps NET INCOME AND ROE 15.3% 15.2% 12.8% 13.8% O Non-interest income up 13% Loans up 13% o Strong corporate loan growth across Canada and the U.S. Deposits up 23% Expenses up 14% 。 Expenses up 6% Q/Q Compliance and technology investment for regulatory requirements and higher performance and share based compensation PCL ratio² at 2 bps 416 11.5% 405 420 335 374 Q4/18 Q1/19 1 Attributable to equity holders of the Bank Q2/19 Q3/19 Q4/19 2 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures 41

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