Fourth Quarter 2018 Investor Presentation

Scotiabank in the Pacific Alliance Countries Well positioned for long-term growth in large, growing market Population 1,2 Government Presidential Elections Financial Stability Economy GDP1 Exports5 Trade Partners5 Business Environment HDI Score Rank6 Banking Penetration1 Foreign Direct Investment¹ Scotiabank Market Share7 Key Highlights of Pacific Alliance countries (PACS) 230 million. 6.2x Canada's population. Projected growth outpaces Canada and G7 countries; median age4 of 29 ⚫ No elections scheduled until 2021 All sovereign credit ratings in IG category with central banks' policy targeting inflation since 1999 9th largest economy in the world 64% of exports related to manufacturing US, China and Canada are the PACs' largest trading partners, representing 72% of exports • Rank "High" or "Very High" (United Nations, 2017) Under-banked with average banking penetration at ~50% compared to over 90% in Canada and the U.S. FDI averaging 3.2% of GDP compared to 1.7% in Canada and the U.S. PACs (Total11/Average) 11.3% 4th Market Share Ranking? Mexico 7.1% 6th Peru 18.2% 3rd Chile 13.8% 3rd Colombia 6.2% 5th Strengths Mortgages and Auto Commercial, Personal and Credit cards Commercial, Credit cards and Mortgages Retail and Credit Cards Well positioned Average Assets³(C$B) $32.3 $24.0 $32.9 $12.3 $101.5 Revenue³(C$B) $2.2 $2.0 $1.7 $1.3 $7.2 Net Income after NCI³,9 (C$B) $0.6 $0.7 $0.4 $0.1 $1.9 ROE 8,9 26% 24% 11% 6% 17% # of Employees 8,10 13,204 11,032 9,386 9,658 43,280 Scotiabank® 1 Source: World Bank 2017 2 Population growth: World Bank DataBank 2017-2022 3 EM countries include: Argentina, Brazil, China, Greece, India, Indonesia, Poland, South Africa, Turkey, and Russia 4 Source: The World Factbook, CIA 2017 5 Source: United Nation Conference on Trade and Development (UNCTAD) 2017; Organization for Economic Co- operation and Development (OECD) 2016 6 Human Development Index. Source: United Nations Development Programme (UNDP) 2017. For more information, please refer to: http://hdr.undp.org/sites/default/files/2018_human_development_statistical_update.pdf 7 Total loans market share as of September 2018 8 As of October 31, 2018 or for the fiscal year 2018 9 Earnings 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 10 Employees are reported on a full-time equivalent basis 11May not add due to rounding 25 25

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