Investor Presentaiton

Canadian Banking - Net Interest Margin 2.35% 2.26% 2.25% 2.26% 2.16% Year-over-Year 1.47% 1.59% 1.59% 1.60% 1.66% 0.95% 0.92% 0.90% 0.89% 0.92% Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Total Canadian Banking Margin -Total Earning Assets Margin Total Deposits Margin Net Interest Margin was up 19bps, driven primarily from higher earning asset margin, partly offset by deposit margin compression. The positive impact from acquisitions was 6bps. 22 22 Scotiabank®

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