Scotiabank Risk Overview

PAC Fundamentals Driving Growth • Strong Governance Democratic countries with open economies Independent central banks with inflation- targeting regimes • Free trade agreements • and free-floating currencies Business-friendly environments Sound Macro Environment • Diversified economies with solid underlying · • economic fundamentals Resilience to economic and political cycles Relatively low debt/GDP ratios compared with OECD and emerging-market economies Increasing adoption of banking services Favourable Demographics 231 million people with a median age of 30 years • Resilient domestic consumption in the post- pandemic period • Important exposure to growing Asian markets while maintaining close links to US economy • Among the fastest growing smartphone markets in the world Considerable growth in the middle class 28

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