Investor Presentaiton

Canadian Banking - Net Interest Margin 2.26% 2.25% 2.17% 2.15% 2.16% Year-over-Year 1.59% 1.59% 1.51% 1.50% 1.48% 0.90% 0.90% 0.95% 0.92% 0.90% Net Interest Margins was up 8bps, driven entirely by a higher earning asset margin. Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Total Canadian Banking Margin Total Earning Assets Margin -Total Deposits Margin Scotiabank® 24 21

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