Investor Presentaiton

Medium-Term Financial Objectives¹ 2018 results met or exceeded medium-term objectives METRICS OBJECTIVES FY2018 RESULTS2 (Y/Y Change) ALL BANK EPS Growth 7%+ +9% ROE 14%+ 14.9% Operating Leverage Positive 3.7% Capital Strong Levels 11.1% OTHER FINANCIAL OBJECTIVES Dividend Payout Ratio 40%-50% 47.7% CANADIAN BANKING Net Income Growth 7%+ +8% Productivity Ratio <49% (by 2020) 49.3% INTERNATIONAL BANKING Net Income Growth³ 9%+ Productivity Ratio <51% (by 2020) +16% 52.4% 13-5 year objectives. 2Adjusted for Acquisition-related costs, including integration and amortization costs related to current acquisitions, amortization of intangibles related to current and past acquisitions and the Day 1 PCL impact on acquired performing loans in Q3/18; 3On a constant dollar basis Scotiabank® 7

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