Colombian Economy & Banking Sector Analysis

Scotiabank in Colombia Including all Business Segments Footprint Customers¹ Employees¹ Branches1 26.0% 3.1 million ~9,000 188 Balance and Market Position Loan Market Share4 Average Loans Average Deposits 5.9% $12 $10 billion billion Market Position by Loans4 16.1% 12.4% 10.3% 6.0% 5.9% 4.2% Financial Total NIAT 2,6 ROE 3 Performance Productivity³ BBVA 1 $78 Bancolombia Davivienda Bogotá 5 BBVA 5.4% 58.2% Occidente5 Scotiabank Colpatria Popular million NIAT6 73 38 Productivity Ratio +53% CAGR 139 54.5% 53.4% 52.6% 85 50.3% 2016 2017 2018 2019 All figures in CAD$ Constant currency 1 As of November 2019 2 Adjusted; for the LTM ended February 29, 2020 not adjusted for currency Operating Leverage 1.6% -1.8% -2.4% -6.4% 2016 2017 2018 2019 2016 2017 2018 2019 3 Adjusted; for the LTM ended February 29, 2020 4 Market share as of February 2020 5 Members of AVAL Group: Banco de Bogotá, Banco de Occidente, Banco Popular and Banco AV Villas. AVAL is 2nd in market share in terms of Loans (25%) and 1st in Deposits (27%) 6 After NCI on an adjusted basis 39

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