FY 2021 BALANCED APPROACH BETWEEN INVESTMENT AND COST MANAGEMENT

APPENDIX 5 | WEALTH MANAGEMENT Wealth Management Summary Results - Q4 2021 ($MM) Q4 21 Q3 21 Q4 20 QoQ YOY Revenues 562 547 467 3% 20% ■ Fee-Based 357 339 281 5% 27% Transaction & Others 90 96 79 (6%) 14% Net Interest Income 115 112 107 3% 7% Non-Interest Expenses 337 322 284 5% 19% Pre-Tax/Pre-Provisions 225 225 183 23% PCL 1 1 Net Income 165 165 134 23% Key Metrics ($B) Q4 21 Q3 21 Q4 20 QoQ YOY Avg Loans & BAs 6.6 6.2 4.9 5% 34% Avg Deposits 33.7 33.2 35.8 1% (6%) Assets Under Administration 651.5 630.0 509.1 3% 28% FY 2021 Outstanding year for Wealth, with PTPP up 22% Q4 2021 Strong revenue growth of 20% YoY and 3% QoQ - Transaction revenues down 6% QoQ due to lower insurance and securities lending activities; limited impact from $0 commission launch ■ AUA up 28% and AUM up 34% YoY - Growth level significantly exceeding market appreciation; record net sales from the branch network, full-service brokerage and private banking Expenses up 19% YoY: - Higher variable compensation from revenue growth, including end-of-year adjustment Assets Under Management 117.2 112.9 87.6 4% 34% Efficiency Ratio (%) 60.0% 58.9% 60.8% +110 bps -80 bps - Continued investments in talent and technology - FY 2021 record-low efficiency ratio of 58.9% Assets Under Administration (1) ($MM) 509 Assets Under Management(1) ($MM) + 28% YoY 101 + 3% QoQ 15 + 34% YoY + 4% QoQ 1 7 17 3 12 652 117 113 117 652 630 42 88 Q4 20 Net Sales Market Q4 21 Q3 21 Net Sales Market Q4 21 Q4 20 Net Sales Market Q4 21 Q3 21 Net Sales Market Q4 21 22 (1) This is a non-GAAP measure. See slide 2.

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