International Banking and Growth

Global Banking & Markets 1, 2 Net Income ($MM) 467 427 388 436 404 48 Q1/14 Q2/14 379 Q3/14 Q4/14 Q1/15 Net after-tax notable items in Q4/14 • • Highlights Net income up 4% Y/Y • Strong results in equities and FX businesses Partly offset by softer performance in investment banking Loan growth of 3% Y/Y • NIM up 6 bps Y/Y • • Higher PCLs driven primarily by one new provision in Canada . Credit quality remains high Expenses down 5% Y/Y • Driven by lower performance- Average Loans³ ($B) Net Interest Margin* (%) based compensation • Lower business taxes 63 66 64 63 65 1.71 1.73 1.72 1.66 1.67 Strong growth in equities and FX businesses Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 (1) (2) (3) (4) Attributable to equity holders of the Bank Adjusted for notable items in Q4/14 - (See Appendix - Notable Items) Average Business & Government Loans & Acceptances Corporate Banking only Scotiabank® 10

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