Investor Presentaiton

Q4 2018 Canadian Banking Financial Performance Solid asset and deposit growth, margin expansion and positive operating leverage4 FINANCIAL PERFORMANCE AND METRICS ($MM)¹ Q4/18 Y/Y Q/Q Reported Revenue $3,443 +5% +2% Expenses $1,747 +7% +5% PCLS $198 (9%) +9% Net Income $1,115 +4% (1%) Productivity Ratio 50.7% +80bps +150bps Net Interest Margin 2.45% +4bps (1bp) PCL Ratio 2, 3 0.23% PCL Ratio on Impaired Loans², 3 0.22% (4bps) (5bps) +1bp +2bps Adjusted4 Expenses $1,705 +5% +4% · Net Income $1,146 Productivity Ratio +7% 49.5% (20bps) +70bps YEAR-OVER-YEAR HIGHLIGHTS Adjusted Net Income up 7%4 。 Asset and deposit growth, margin expansion Revenue up 5% 。 Net interest income up 6% Loan growth of 5% 。 Business loans up 13% 。 Residential mortgages up 3%; credit cards up 7% Deposit growth of 6% 。 Personal up 5%; Non-Personal up 7% • NIM up 4 bps 1,4 ADJUSTED NET INCOME ($MM) AND NIM (%) 2.41% 2.41% 2.43% 2.46% 2.45% . 1,073 1,107 1,022 1,141 1,146 • Q4/17 Q1/18 Q2/18 1 Attributable to equity holders of the Bank 2 2018 amounts are based on IFRS 9. Prior period amounts were based on IAS 39 Q3/18 Q4/18 • 。 Rising rate environment and improved business mix Expenses up 5%4 О Investments in technology and regulatory initiatives 。 Full-year productivity ratio improvement of 90bps4 Full-year operating leverage of +1.9%4 PCL ratio², 3 improved by 4 bps due to lower retail PCLs 3 Provision for credit losses on certain assets-loans, acceptances and off-balance sheet exposures 4 Adjusted for Acquisition-related costs, including integration and amortization costs related to current acquisitions, and amortization of intangibles related to current and past acquisitions Scotiabank® 18

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