Well-Diversified and Profitable Business

Increasing Scale, Improving Focus¹ Gaining scale in key markets to drive earnings growth, improve earnings quality and reduce risk Gaining Market Share (Total Loans) Canada Mexico Q2/14 Q2/19 0 2 4 6 8 10 12 14 16 18 20% Increasing Scale with Strategic Acquisitions (2017-2019) MD Canada Chile MD Financial Management JARISLOWSKY FRASER GLOBAL INVESTMENT MANAGEMENT BBVA Adds wealth management assets of $96B. Adds 110,000 potential primary customers. Doubles market share. Creates 3rd largest bank. Creates 2nd largest bank in credit cards. = Chile Peru Colombia Improving Earnings Quality $ Increased Wealth Management by 43% to $297B since 2017. Targeting Wealth Management earnings contribution to All-Bank earnings from 12% to 15% 15-year period 2014-2019 INCREASING SCALE, IMPROVING FOCUS Peru banco cencosud Colombia Citibank Creates market leader in credit cards. Dominican Republic Doubles customer base. Creates 4th largest bank. PROGRESO... Reducing Risk Profile 54 countries 2013 36 countries 2019 Between 2014 and 2019, exited 18 countries with either low returns, small scale or higher operational risk: Turkey Russia • Haiti ⚫ Egypt Taiwan UAE ⚫ plus 12 others • Exited 6 non-core businesses Reduced wholesale funding (% of assets) from 29.6% to 22.9% • Scotiabank® 9

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