Trading Results & Economic Outlook

Global Wealth Management $MM, except AUM/AUA Q4/20 Y/Y Q/Q . Reported Net Income¹ $323 +8% +1% Pre-Tax, Pre Provision Profit $439 +9% +1% • Revenue $1,165 +1% +3% Expenses $726 (2%) +4% PCLs $3 N/A N/A Productivity Ratio 62.3% (250bps) +60bps AUM ($B) $292 (3%) (1%) • AUA($B) $502 +1% • Adjusted² Net Income¹ $333 +6% . Pre-Tax, Pre Provision Profit $452 +7% +1% Expenses $713 (2%) +4% Productivity Ratio 61.1% (200bps) +80bps AUM AUA +1% -3% Y/Y4 Y/Y³ . YEAR-OVER-YEAR HIGHLIGHTS Adjusted net income² up 6% o Canadian Wealth Management earnings up 14% Y/Y Revenue up 4% excluding impact of divestitures o Strong Asset Management net sales o Solid volume growth within Private Banking o Higher brokerage fees from elevated iTRADE volumes Adjusted expenses² down 2% FY20 adjusted operating leverage² was positive 2.5%, excluding impact of divestitures Adjusted productivity ratio² improved 200 bps Excluding divestitures, AUM up 2% and AUA up 4% o Driven by strong net sales and market appreciation o Canadian Wealth Management AUM up 5% and AUA up 3% ADJUSTED NET INCOME¹² ($MM) AND ROE² (%) 497 503 502 302 14.3% 14.3% 293 292 112 108 107 59 37 38 -36% -5% 13.7% 13.8% 13.6% Y/Y³ Y/Y4 333 332 243 256 254 385 395 395 +5% +3% 314 318 314 2 Y/Y Y/Y 332 333 318 312 314 Q4/19 Q3/20 Q4/20 Canada Q4/19 ■International Q3/20 Q4/20 Q4/19 Q1/20 Q2/20 Q3/20 1 Attributable to equity holders of the Bank 2 Refer to Non-GAAP Measures on slide 40 for adjusted results 3 Excluding the impact of divestitures, Global Wealth Management AUM up 2% and International Wealth Management AUM down 13% 4 Excluding the impact of divestitures, Global Wealth Management AUA up 4% and International Wealth Management AUA up 10% ■Ex. Divested Ops Divested Ops Q4/20 12

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