Canadian Housing Market and Financial Overview

Increasing Scale, Improving Focus¹ Gaining scale in key markets to drive earnings growth, improve earnings quality and reduce risk Gaining Market Share (Total Loans) Canada 2013 2018 0 2 4 6 8 10 12 14 16 18 20 Increasing Scale with Strategic Acquisitions (2017-2019) MD Canada Chile MD Financial Management JARISLOWSKY FRASER GLOBAL INVESTMENT MANAGEMENT BBVA Increases wealth management assets to $230B. Adds 110,000 potential primary customers. Doubles market share. Creates 3rd largest bank. Mexico Chile Peru Colombia Improving Earnings Quality $ Increased wealth AUM by 37% to $282B in 2018. Targeting earnings contribution to All-Bank earnings from 12% to 15% 15-year period 2013-2018 INCREASING SCALE, IMPROVING FOCUS Peru banco cencosud Colombia Citibank Dominican Republic Creates #2 bank in credit cards. Creates market leader in credit cards. Doubles customer base. Creates 4th largest bank. PROGRESO Reducing Risk Profile • 57 countries 37 countries 2013 2019 Between 2013 and 2019, exited 20 countries with either low returns, small scale or higher operational risk: Turkey Russia • Haiti ⚫ Egypt Taiwan UAE⚫ plus 14 others • Exited 5 non-core businesses Reduced wholesale funding (% of assets) from 29.6% to 23.9% • Reduced asset exposure in Asia by 21% Scotiabank® 9

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