Investor Day Summary

% OF GDP CANADIAN ECONOMY Diverse economy with a strong balance sheet 19.9% Finance, Insurance, & Real Estate 14.4% Other 4.5% Transportation & Warehousing 5.5% Professional, Scientific, & Technical Services 6.2% CANADIAN GDP BY INDUSTRY (FEB 2018) Public Administration -11.8% Health & Education -11.4% Wholesale & Retail Trade -10.5% Manufacturing -8.6% Mining and Oil & Gas Extraction -7.2% Construction GENERAL GOVERNMENT NET FINANCIAL LIABILITIES 128.8 129.6 90.8 79.8 80.1 68.2 37.3 28.6 Canada Germany OECD France US UK Japan Italy Sources: Scotiabank Economics, OECD (2017 estimates). As of May 14, 2018. % OF GDP ANNUAL % CHANGE REAL GDP GROWTH 2 3 0 US 2000-2016 Eurozone Canada 2018f-2019f UK Japan Sources: Scotiabank Economics, Haver Analytics, Statistics Canada. Forecasts as of May 3, 2018. GOVERNMENT FINANCIAL DEFICITS 2 1 1.1 0 (0.7) (1.0) - 2 3 4 5 (1.9) (2.3) (2.6) (4.2) (4.6) GermanyOECD* Canada Italy UK France Japan US * Arithmetic mean of all OECD Financial Deficits as a % of GDP. Sources: Scotiabank Economics, IMF (2017 estimates). As of May 14, 2018. Scotiabank 50

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