Scotiabank Investor Presentation

Q4 2022 Financial Performance $MM, except EPS Q4/22 Y/Y Q/Q Reported Net Income $2,093 (18%) (19%) Pre-Tax, Pre-Provision Profit¹ $3,097 (9%) (14%) Diluted EPS $1.63 (17%) (22%) Revenue $7,626 (1%) (2%) Expenses $4,529 6% 8% Productivity Ratio² 59.4% 380 bps 570 bps Net Interest Margin³ 2.18% 1 bp (4 bps) PCL Ratio² 28 bps 18 bps 6 bps PCL Ratio on Impaired Loans² 26 bps (5 bps) 5 bps Adjusted³ Net Income $2,615 (4%) Pre-Tax, Pre-Provision Profit $3,700 2% 2% Diluted EPS $2.06 (2%) (2%) Revenue $7,987 4% 2% Expenses $4,287 6% 3% Productivity Ratio 53.7% 90 bps 30 bps REPORTED NET INCOME YEAR-OVER-YEAR ($MM) 2,559 405 (466) 214 (361) (258) Q4/21 Net interest Non-interest Income income PCLs Non-interest Taxes expenses • • YEAR-OVER-YEAR HIGHLIGHTS Adjusted EPS down 2% (reported down 17%) o Adjusting items (slide 20) - EPS impact of ($0.43) Adjusted pre-tax, pre-provision profit up 2% (reported down 9%) Adjusted revenue up 4% (reported down 1%) o Net interest income up 10%, due primarily to strong asset growth across all business lines o Adjusted non-interest income down 3% (reported down 13%) NIM down 4 bps Q/Q o Lower contribution from asset/liability management activities, as well as lower Canadian Banking margin Expenses up 6% o Higher personnel costs, performance-based compensation and costs to support business growth Strong adjusted ROE³ of 15.0% (reported 11.9%) REPORTED NET INCOME4 BY BUSINESS SEGMENT ($MM) -5% Q4/21 Q4/22 -6% -4% +25% 2,093 1,238 1,170 385 361 502 484 515 643 Q4/22 Canadian Banking Global Wealth Management Global Banking and Markets International Banking (Constant FX) 3 1 Pre-Tax, Pre-Provision Profit defined as revenues less expenses. See non-GAAP reconciliations beginning on slide 43 2 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 3 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 4 Attributable to equity holders of the Bank 11

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