Investor Presentaiton

BUILDING A LEADING WEALTH PLATFORM Acquisitions of Jarislowsky Fraser and MD Financial increase AUM -50% and significantly improve business mix adding Institutional and Private Client AUM Building a powerful platform to broaden and deepen our presence across asset classes, clients and distribution channels in Canada and to continue growing these segments organically • Well positioned to leverage enhanced asset management capabilities to better service our clients with the ability to choose purpose-built investment solutions to meet their unique needs Opportunity to bolster our leadership in serving the banking and investment needs of high-net-worth families Canadian Banking AUM as of December 31, 2017 (1) Retail (2) ■■Private Client ■Institutional 9% 23% 14% $155BN + $40BN + $38BN(3) 66% 77% 77% Scotiabank® JARISLOWSKY FRASER GLOBAL INVESTMENT MANAGEMENT MD MD Financial Management 19% 34% 1. Retail includes mutual funds and pools distributed through affiliated bank and full service advice channels, as well as wholesaled through third-party advisors 2. Private Client includes Private Investment Counsel and Advisor Managed Discretionary Assets on behalf of HNW and UHNW Clients 3. Excludes -$10Bn of brokerage assets under administration $233BN 57% 24% Scotiabank®| 8

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