Scotiabank Investor Day Summary

MEDIUM-TERM FINANCIAL OBJECTIVES Achievable objectives driven by strong operations across our footprint METRIC OBJECTIVES 2018 YTD RESULTS1 (YTD/YTD) ALL BANK EPS Growth 7% + +9.2% ROE 14% + 15.2% Operating Leverage Positive 4.7% Capital Strong Levels 11.4% OTHER FINANCIAL OBJECTIVES Dividend Payout Ratio 40-50% 47.1% CANADIAN BANKING Net Income Growth Productivity Ratio 7% + +8.4% <49% 49.2% INTERNATIONAL BANKING Net Income Growth² 9%+ Productivity Ratio <51% 1 Adjusted for Acquisition-related costs, including the Day 1 PCL on acquired performing loans, integration and amortization costs related to current acquisitions, and amortization of intangibles related to current and past acquisitions 2 On a constant dollar basis +17.2% 52.2% Scotiabank® | 12

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