FY 2021 BALANCED APPROACH BETWEEN INVESTMENT AND COST MANAGEMENT

ALLOWANCE FOR CREDIT LOSSES ACL Q4 21 ($MM) $769 Impaired $241 Performing $586 + 76% -6% $1,354 $1,309 $1,239 $1,169 Impaired $357 Impaired $382 Impaired $388 Impaired $379 Performing $1,051 Performing $977 Performing $938 Performing $879 POCI ($58) POCI ($54) POCI ($50) POCI ($87) POCI ($89) ACL Q1 20 ACL Q1 21 ACL Q2 21 ACL Q3 21 ACL Q4 21 (1) (1) Performing ACL includes allowances on drawn ($708M), undrawn ($143M) and other assets ($28M). Total Allowances ■ Declined by 6% ($70M) QoQ ▪ Remain ~52% above pre-pandemic level Maintaining prudent level of allowances in light of continued uncertainty Performing Allowances ■ Decline of 6% ($59M) QoQ ■ At $879M, remains just 16% below peak level Strong coverage of 4.8X LTM impaired PCLS and 2.8X 2019 impaired PCLS ■ Future level of performing allowances will be driven by the path of economic recovery, credit quality and volume growth ■ Cumulative release of 38% of pandemic build Impaired Allowances ■ Decrease $9M QoQ Coverage improved to 57% of Gross Impaired Loans (+1% QoQ) 13

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