Increasing Scale, Improving Focus

Acquisition & Divestiture Activity Acquisitions focused on gaining scale and improving business mix Divestitures focused on smaller markets and less attractive operating environments Countries Businesses 2014 2015 2016 Acquisitions 2017 Divestitures/Exits* Russia Egypt Haiti UAE Turkey Vietnam Taiwan France 2018 • • MD Financial (Canada) Jarislowsky Fraser (Canada) . Citibank (Colombia) = • CI Financial (Canada) • RoyNat Leasing (Canada) • Hollis Wealth CreditScotia • (Canada) (Jamaica) Announced or closed • • • • 2019 • Banco Progreso (Dominican Republic) Cencosud (Peru) Thailand ($3.0B) PR/USVI ($0.5B) El Salvador 9 Leeward Islands Countries Pension & Insurance (Dominican Republic) Life Insurances (Jamaica, Trinidad & Tobago) Pension (Colombia) Scotiabank. 6

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