FY22 Financial Overview

Canadian Economy Diverse sources of growth with a strong balance sheet 20.3% Finance, Insurance, & Real Estate 15.0% Other 3.9% Transportation & Warehousing 6.6% Professional, Scientific, & Technical Services 6.9% CANADIAN GDP BY INDUSTRY (Aug.2022) Public Administration 12.5% Real GDP Growth Health & Education 7.3% 10.4% Wholesale & Retail Trade 9.3% Manufacturing 7.8% Mining and Oil & Gas Extraction Construction GDP 2022F: 3.2% GDP 2023F: 0.6% GDP 2024F: 1.4% ANNUAL % CHANGE 3 N U.S. 2010-2019 Canada Eurozone 2022F-2024F Avg. Sources: Scotiabank Economics, Haver Analytics, Statistics Canada. Forecasts as of Oct 17, 2022. General Government Net Debt % OF GDP Government Financial Deficits 0 U.K. Japan 2021 2022F -4 -6 (5.0) (2.2) (3.7) (3.3) (7.2) (3.6) (10.9) (4.0) (8.0) (4.3) (6.4) (5.1) (7.2) (5.4) (6.7) (7.9) 168 173 138 135 -8 100 95 101 100 84 86 83 75 -10 % OF GDP 47 48 2021 2022F 32 31 -12 CA GE Adv. U.S. U.K. FR IT JN CA GE U.K. Adv. Econ. U.S. FR IT JN Econ. Sources: IMF Oct 2022 Fiscal Monitor. Calendar years shown. Scotiabank Economics, IMF Oct 2022 Fiscal Monitor, CBO. Calendar years shown. 62 62

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