International Banking and Growth

Risk Review . Underlying credit fundamentals remain strong ● Improvement in PCL ratio - down 11bps Q/Q to 42bps ● . • . Adjusting for certain loan losses last quarter¹, the underlying PCL ratio was down 5bps Q/Q, and up 8bps Y/Y Gross impaired loans of $4.6 billion was up 9% Q/Q and 24% Y/Y Net formations of $771 million was down from $816 million in Q4 Market risk remains well-controlled . • . Average 1-day all-bank VaR: $11.2MM vs. $23.8MM in Q4/14 Reduction in 1-day all-bank VaR Q/Q due to model enhancements Two trading loss days in Q1/15 (1) Adjusted for Q4/14 accelerated loan write-offs for bankrupt retail accounts ($62 million) - (See Appendix - Notable Items) 13 Scotiabank®

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