Scotiabank Investor Presentation

International Banking International Banking is a strong and diverse franchise with over 11 million Retail, Corporate, and Commercial customers. The geographical footprint encompasses the Pacific Alliance countries of Mexico, Chile, Peru, and Colombia, as well as Central America, the Caribbean, and Uruguay. Business Mix Strategic Focus Business Loans 56% Asia Q4/22 1% Revenue 77% Latin Credit Cards Q4/22 Loan 5% Mix America Mix1 22% $2.5B Auto 1% Deepening relationships with the Affluent Retail segment Continue driving efficiencies and customer experience by leveraging Digital Financial Results 10% $161B Constant dollar basis²,6 C&CA Personal Loans 28% $MM Q4/22 Q4/21 Y/Y² Q3/22 Q/Q² Residential Mortgages Reported 3 6,7 Reported Net Income ($MM) and NIM (%) Net Income³ Pre-Tax, Pre Provision $643 $515 25% $621 4% $1,140 $1,044 9% $1,115 2% Profit4 4.08% 3.78% 3.87% 3.96% 3.95% Revenue $2,504 $2,322 8% $2,426 3% Expenses $1,364 $1,278 7% $1,311 4% PCLS $355 $323 10% $328 8% 588 621 643 515 544 Productivity Ratio5 Net Interest Margin 6,7 54.5% 54.3% 20 bps 53.5% 100 bps 4.08% 3.78% 30 bps 3.95% 13 bps Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 PCL Ratio 5,8 PCL Ratio Impaired Loans 5,8 89 bps 91 bps (2 bps) 84 bps 5 bps 81 bps 118 bps (37 bps) 68 bps 13 bps Medium-Term Financial Objectives Net Income Growth 3,6 Productivity Ratio6 Adjusted Target⁹ 9%+ Net Income³ Pre-Tax, Pre Provision $650 $521 25% $628 4% $1,149 $1,054 9% $1,124 2% <50% Operating Leverage6 Positive Profit Expenses Productivity Ratio $1,355 $1,268 7% $1,302 4% 54.1% 20 bps 53.2% 53.9% 90 bps 1 May not add due to rounding; 2Y/Y and Q/Q growth rates (%) are on a constant dollars basis, while metrics and change in bps are on a reported basis; 3 Net income attributed to equity shareholders; 4 Pre-Tax, Pre-Provision Profit defined as revenues less expenses; 5 Refer to page 133 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com, for an explanation of the composition of the measure. Such explanation is incorporated by reference hereto; 6 Refer to non-GAAP measures on page 17 of the Management's Discussion & Analysis in the Bank's 2022 Annual Report, available on http://www.sedar.com; 7 Prior period has been 29 restated to include as a deduction non-interest bearing deposits with banks, to align with the Bank's definition; 8 Provision for credit losses on certain assets-loans, acceptances and off-balance sheet exposures; 93-5 year target from 2020 Investor Day

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