Medium-Term Financial Objectives

Increasing Scale, Improving Focus, Lowering Risk¹ Gaining scale in key markets to drive earnings growth, improve earnings quality and reduce risk Gaining Market Share (Total Loans) Canada Mexico Q3/14 Q3/19 0 2 4 6 8 10 12 14 16 18 20% Increasing Scale with Strategic Acquisitions (2017-2019) MD Canada Chile MD Financial Management JARISLOWSKY FRASER GLOBAL INVESTMENT MANAGEMENT BBVA Adds wealth management assets of $96B. Adds 110,000 potential primary customers. Doubles market share. Creates 3rd largest bank. Creates 2nd largest bank in credit cards. Chile Peru Colombia Improving Earnings Quality Increased Wealth Management assets under management by 44% to $297B Targeting Wealth Management earnings contribution to All- Bank earnings of 15% over the medium-term Establishing Global Wealth Management as a standalone reporting division in Q1/20 15-year period 2014-2019; 2 Q4 2017 to Q3 2019 INCREASING SCALE, IMPROVING FOCUS Peru banco cencosud Colombia Citibank Creates market leader in credit cards. Dominican Republic Doubles customer base. Creates 4th largest bank. PROGRESO... Reducing Risk Profile 54 countries 33 countries 2013 2019 Between 2013 and 2019, exited 21 countries with either low returns, small scale or higher operational risk, including: • Turkey Russia • Haiti ⚫ Egypt Taiwan UAE⚫ 15 others • Exited 11 non-core businesses Reduced wholesale funding (% of assets) from 29.6% in 2014 to 23.1% • Scotiabank® 6

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