International Banking - Annual Overview

MEDIUM-TERM FINANCIAL OBJECTIVES Achievable objectives driven by strong operations across our footprint METRIC OBJECTIVES Q4 2017 RESULTS (Y/Y) FISCAL 2017 RESULTS (Y/Y) ALL BANK EPS Growth 5-10% 4% 8%1 ROE 14%+ 14.5% 14.6% Operating Leverage Positive 0.4% -0.2%1 Capital Maintain strong ratios 11.5% 11.5% OTHER FINANCIAL OBJECTIVES Dividend Payout Ratio 40-50% 48.2% 46.6% CANADIAN BANKING Net Income Growth 6-9% 12% 9% INTERNATIONAL BANKING Net Income Growth² 8-10% 8% 15% Adjusting for the Q2/16 restructuring charge of $278 million (after tax) or $378 million (before tax) 1 2 On a constant currency basis Scotiabank® | 12

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