FY 2021 BALANCED APPROACH BETWEEN INVESTMENT AND COST MANAGEMENT

APPENDIX 4 | PERSONAL AND COMMERCIAL BANKING P&C Summary Results - Q4 2021 ($MM) Q4 21 Q3 21 Q4 20 QoQ YOY Revenues 945 937 881 1% 7% Personal 569 563 545 1% 4% Commercial 376 374 336 1% 12% Non-Interest Expenses 503 486 476 3% 6% Pre-Tax / Pre-Provisions 442 451 405 (2%) 9% PCL (38) 2 67 Net Income 353 330 249 7% 42% ☐ FY 2021 ☐ Strong growth on both sides of the balance sheet Q4 2021 Strong growth on both sides of the balance sheet, partly offset by margin pressure ■ Continued momentum in client activity across the franchise with other income up 12% YoY Expenses up 6% YoY - Salaries and commissions Brand and technology investments NIM down 5 bps QoQ Lower pre-payment fees due to seasonality and loan mix (strong growth in mortgages and insured CRE) P&C Net Interest Margin (1) Key Metrics Q4 21 Q3 21 Q4 20 QoQ YOY Avg Loans & Bas 133,294 128,996 118,994 3% 12% Personal 88,633 86,497 81,000 2% 9% ☐ Commercial Avg Deposits Personal 44,661 42,499 37,994 5% 18% - 80,639 78,052 72,208 37,100 37,012 35,441 3% 12% 5% Commercial NIM (%) Efficiency Ratio (%) PCL Ratio 43,539 41,040 36,767 2.06% 2.11% 2.19% (0.05%) 53.2% 51.9% 54.0% +130 bps (0.11%) 0.01% 0.22% 6% 18% (0.13%) -80 bps (1) NIM is on Earning Assets. 2.19% 2.18% 2.16% 2.11% 2.06% Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 21

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