Investor Presentaiton

Q2 2018 FINANCIAL PERFORMANCE Strong results with solid top line growth and expense management $MM, except EPS Q2/18 Y/Y Q/Q Net Income $2,177 +6% (7%) • Diluted EPS $1.70 +5% (9%) • Revenue $7,058 +7% Expenses $3,726 +3% +7% Productivity Ratio 52.8% (190bps) +350bps Core Banking Margin 2.47% (7bps) +1bp PCL Ratio 1, 2 42bps (7bps) PCL Ratio on Impaired Loans 1, 2 46bps (3bps) +3bps • DIVIDENDS PER COMMON SHARE 0.03 0.03 . 0.76 0.76 0.79 0.79 0.82 Q2/17 Q3/17 ■Announced Dividend Increase Q4/17 Q1/18 Q2/18 • YEAR-OVER-YEAR HIGHLIGHTS Diluted EPS grew 5% Revenue up 7% 。 Net interest income up 6% from strong volume growth partially offset by lower margins 。 Non interest income up 9% due to higher equities trading and income from investments in associated corporations 。 Lower real estate gains offset by Alignment of reporting period³ Expenses up 3% o Higher salaries and employee related costs, continued investments in technology and marketing 。 Cost reduction initiatives and HollisWealth sale 。 Strong positive operating leverage PCL ratio 1,2 on impaired loans improved by 3 bps to 46 bps Effective tax rate increased to 22.2% from 13.9% o Higher amounts of tax-exempt dividends related to client driven equity trading activity last year Scotiabank® | 6 12018 amounts are based on IFRS 9. Prior period amounts were based on IAS 39 2 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures 3 Alignment of reporting period relates to the benefit of recognizing an additional month of income from the alignment of reporting periods of Chile and Canadian insurance business with the bank

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