Q1 2023 Financial Results

Scotiabank in Mexico' Business Overview² Operating since 2003 offering Retail, Small Business, Commercial, GBM, Wealth and Treasury solutions Performance Evolution ($MM) 2,6 Q1/23 Customers³ ~3.1MM 1,281 1,219 1,043 PTPP NIAT 822 656 315 340 255 184 221 Employees³ ~8,700 2020 2021 2022 Q1/22 Q1/23 Branches³ 453 WY/WY Y/Y Loans $41Bn PTPP Growth 6% 17% 5% 2% 8% NIAT Growth (52%) 157% 25% 28% 20% Deposits $39Bn Loan Growth 14% (2%) 12% 9% 13% ROE4 23.8% NIM4 4.35% 4.40% 4.14% 4.22% 4.14% Digital Adoption (%) 51% Productivity Ratio 55.0% 50.0% 49.0% 48.9% 48.7% Digital Sales (%) 70% Operating Leverage 1.3% 8.9% 2.2% 3.5% 0.6% Economic Outlook5 Loan Portfolio Market Share and Positions? 2023E 2024E GDP Growth (%) 0.8% 1.9% Population Growth (%) 0.85% 0.82% CPI (y/y % eop) 5.1% 3.8% Residential Mortgages 31% Total Loans 5th 8% Mortgage 4th 16% $41.5Bn Non-mortgage 6th 3% Unsecured 6% Corporate/ Commercial 60% Auto 3% Commercial 5th 7% Total Deposits 6th 7% 1All figures excluding Wealth Management; 2 Current and prior period dollars, Y/Y and Q/Q growth rates (%) are on a constant dollar basis, while metrics are on a reported basis; 3 Including subsidiaries; 4 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; 5 Source: Scotiabank Economics. GDP and CPI as at February 10, 2023 forecast; Population Growth: World Economic Outlook Database, October 2022; 6 Pre-Tax, Pre-Provision Profit defined as revenues less expenses; See non- GAAP reconciliations beginning on slide 81; 7Key Competitors: BBVA, Banamex Citigroup, Santander, Banorte, HSBC; Source: CNBV/Banxico 29 29

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