Investor Presentaiton

Impact of Recently Closed Acquisition ● On November 16, 2015, the Bank closed the acquisition of: ● • JPMorgan Chase credit card portfolio in Canada Q1/16 earnings impact of $15 million In $mm Revenues1 Expenses Net Income Q1/16 $54 ($39) $15 Average Retail Loans $1,299 (1) Acquisition accounted for 6bps Y/Y increase in Canadian Banking NIM. Scotiabank® 19

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