Investor Presentaiton

Risk Review . ● . Overall credit fundamentals remain within expectations despite increased provisions on a small number of accounts PCL ratio - Q2/16 should reflect the peak loss rate for the year Excluding the impact of the collective allowance, PCL ratio increased 14 bps Q/Q and 18 bps Y/Y Gross impaired loans of $5.1 billion were relatively stable, up 1% Q/Q • GIL ratio up 3 bps Q/Q Net formations of $982 million was up from $806 million in Q1/16 Market risk remains well-controlled . Average 1-day all-bank VaR of $13.9 million, down from $15.2 million in Q1/16 15 Scotiabank®

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