Scotiabank Risk Overview

Global Banking and Markets Global Banking and Markets (GBM) provides corporate clients with lending and transaction services, investment banking advice and access to capital markets. GBM is a full-service wholesale bank in the Americas, with operations in 21 countries, serving clients across Canada, the United States, Latin America, Europe and Asia-Pacific. Business Overview Asia Canada Europe 6% 51% Global Equities 15% Business Banking 53% Q1/23 Revenue¹ Q1/23 Revenue $1.5Bn $1.5Bn 40% 32% US FICC Strategic Focus . . Executing a consistent strategy to be a top wholesale Bank in the Americas, that is focused on Geography, Client and Product Leverage strong balance sheet to support corporate lending and asset growth across the America's footprint to win increased financing business Well positioned to leverage the Bank's unique geographic footprint across the Americas to serve it's cross-border clients in Canada, US and LatAm Net Income² ($MM) and ROE4 (%) Financial Results Q1/23 Y/Y Q/Q 17.4% Reported 15.6% 13.2% 13.4% 11.1% Net Income² $519 (7%) 7% Pre-Tax, Pre Provision Profit³ $730 (1%) 11% 561 488 484 519 Revenue $1,503 7% 11% 378 Expenses $773 15% 11% Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 PCLs Medium-Term Financial Objectives Net Income Growth 2,4 Target ~5% Productivity Ratio4 PCL Ratio4 $15 51.4% 4 bps nmf nmf 370 bps 10 bps 1 bp PCL Ratio Impaired Loans4 3 bps (6 bps) Productivity Ratio4 Operating Leverage4 ~50% Positive ¹May not add due to rounding 2 Attributable to equity holders of the Bank; 3 Pre-Tax, Pre-Provision Profit defined as revenues less expenses; See non-GAAP reconciliations beginning on slide 81; 4 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; 5 Refer 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; 40

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