Scotiabank Canadian Legislative Covered Bonds Presentation

Economic Outlook in Key Markets 2017 and 2018 Real GDP Growth Forecast Canada / US 2.5 2.4 2.2 2.0 Canada Canada 2017 2018 1.8 Scotiabank's Key International Markets 3.7 2.4 2.0 2.5 2.0 2.8 2.5 US 2017 US 2018 Chile 2017 Chile 2018 Mexico Mexico Colombia Colombia Peru 2017 Peru 2018 2018 2017 2018 2017 No Significant Exposure to the BRICS Source: Scotiabank Economics. Forecasts as of May 3, 2017. 41

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