Scotiabank Risk Overview

Global Wealth Management 3rd Largest Wealth Management Business in Canada¹ Global Wealth Management is focused on delivering comprehensive wealth management advice and solutions to clients across Scotiabank's footprint. Global Wealth Management serves over 2.5 million investment fund and advisory clients across 13 countries - administering approximately $600 billion in assets. Business Overview 13% Q1/23 Revenue 10% Q1/23 AUM² Mix $322Bn $1.3Bn 87% 90% 21% Q1/23 AUA² $607Bn 79% Strategic Focus • Canada: Maintain momentum leveraging our unique operating model and market leading capabilities International: Follow Scotia's footprint, building out Advisory and Asset Management businesses in PAC markets Financial Results International 3 Canada Reported Net Income ($MM) and ROE4 (%) $MM, except AUM/AUA Reported Q1/23 Y/Y Q/Q 17.2% 17.5% 15.5% 412 -7 405 407 376 361 385 14.8% 15.5% Net Income³ $385 (7%) 6% Pre-Tax, Pre Provision Profit 5 $521 (7%) 6% Revenue $1,323 (7%) 3% Expenses $802 (7%) 1% PCLs $1 nmf nmf Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 ■Ex. Performance Fees Performance Fees Productivity Ratio² 60.6% (130 bps) AUM ($B)² $322 (7%) 4% AUA ($B)² $607 1% 5% Medium-Term Financial Objectives Net Income Growth 2,3 Productivity Ratio² Operating Leverage² Target 8%+ <65% Positive Adjusted4 Net Income³ $392 (6%) 6% Pre-Tax, Pre Provision Profit 5 $530 (7%) 6% Expenses Productivity Ratio² $793 (7%) 1% 59.9% (10 bps) (130 bps) 1 Based on Total Net Income for publicly traded banks in Canada for the 3 months ended October 31, 2022; 2 Refer to page 50 of the Management's Discussion & Analysis in the Bank's First Quarter 2023 Report to Shareholders, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 3 Attributable to equity holders of the bank; 4Refer to non-GAAP measures on page 4 of the Management's Discussion & Analysis in the Bank's First Quarter 2023 Report to Shareholders, available on http://www.sedar.com; 5 Pre-Tax, Pre- Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 81 35

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