Liquidity, Funding, and Residential Mortgage Portfolio

Credit Ratings Desjardins MOODY'S S&P DBRS FITCH Counterparty/Deposits¹ Short-term debt Aa1 A+ AA AA P-1 A-1 R-1 (high) F1+ Senior medium and long-term legacy debt² Aa2 A+ AA AA 3 Senior medium and long-term debt A2 A- AA (low) AA- NVCC subordinated notes A2 BBB+ A (low) A Covered Bonds Aaa - AAA Outlook Stable Stable Stable Stable 1. Represents Moody's Counterparty Risk Rating and Deposit Rating, S&P's Issuer Credit Rating, DBRS' Long Term Deposit Rating and Fitch's Long-Term Issuer Default Rating, counterparty Rating and Long Term Deposit Rating. 2. Includes senior debt issued prior to March 31, 2019, and senior debt issued on or after March 31, 2019, which is excluded from the recapitalization regime applicable to Desjardins. 3. Includes senior debt issued on or after March 31, 2019, subject to conversion under the recapitalization regime applicable to Desjardins. CAPITAL AND BAIL-IN 24

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