Scotiabank Business Overview and Economic Outlook

Global Banking and Markets Global Banking and Markets (GBM) provides corporate clients with lending and transaction services, investment banking advice and access to capital markets. GBM is a full service wholesale bank in the Americas, with operations in 21 countries, serving clients across Canada, the United States, Latin America, Europe and Asia-Pacific. Business Overview Asia Financial Results Canada 5% Europe Global Business 47% Banking $MM Q1/21 Y/Y Q/Q 7% Equities 56% 18% Geographic Revenue¹ Revenue By Business Line¹ Reported Net Income² $543 46% 18% $1.3B $1.3B Pre-Tax, Pre Provision Profit $722 41% 15% 32% US 35% FICC Revenue $1,336 15% 10% Expenses $614 (6%) 5% Adjusted Net Income ²,³ ($MM) and ROE³ (%) 2,3 PCLs $20 (17%) (68%) Productivity Ratio 46.0% (1,000 bps) (220 bps) 17.5% 15.4% 14.0% 17.3% 14.6% PCL Ratio4 0.08% (1 bp) (16 bps) PCL Ratio Impaired Loans4 0.06% (8 bps) (7 bps) 451 523 600 460 543 Adjusted³ Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Medium-Term Financial Objectives NIAT Growth Productivity Ratio Operating Leverage Target5 ~5% ~50% Positive Net Income² $543 20% 18% Pre-Tax, Pre Provision Profit $722 17% 15% Revenue $1,336 5% 10% PCLS Productivity Ratio PCL Ratio4 $20 46.0% 0.08% 11% (68%) (550 bps) (220 bps) 1 bp (16 bps) 1 TEB Revenue for the 3 months ended January 31, 2021. Note GBM Latam revenue contribution is reported in International Banking results; 2 Attributable to equity holders of the Bank; 3 Adjusted for impact of additional pessimistic scenario; 4 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures; 53-5 year target from 2020 Investor Day 37

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