Scotiabank Risk Overview

Global Registered Covered Bond Program Highlights • Able to issue across multiple currencies such as CAD, USD, EUR, GBP, AUD, CHF and NOK • CAD$49.7 billion outstanding1 vs. $100 billion program size² • Extensive regulatory oversight and pool audit requirements • Mandatory property value indexation • CMHC prescribed disclosure requirements • Program carries the ECBC Covered Bond Label Issuer Guarantor Guarantee Status Program Size Ratings Cover Pool Asset Percentage The Bank of Nova Scotia Scotiabank Covered Bond Guarantor Limited Partnership Payments of interest and principal in respect of the covered bonds are irrevocably guaranteed by the Guarantor. The obligations under the Covered Bond Guarantee constitute direct obligations of the Issuer and are secured by the assets of the Guarantor, including the Portfolio. The covered bonds will constitute legal, valid and binding direct, unconditional, unsubordinated and unsecured obligations of the Bank and will rank pari passu with all deposit liabilities of the Bank without any preference among themselves and at least pari passu with all other unsubordinated and unsecured obligations of the Bank, present and future. CAD $100 billion² Aaa/ AAA / AAA (Moody's / Fitch / DBRS) First lien uninsured Canadian residential mortgage loans with LTV limit of 80% 94.8% Law Ontario, Canada Issuance Format 144A/Reg S (UKLA Listed) 1 As at January 31, 2023. 2 Effective April 6, 2021, OSFI limit for issuance is 5.5% of Total Assets. 78

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