Investor Day Summary

CANADIAN BANKING Strong loan growth, margin expansion and positive operating leverage FINANCIAL PERFORMANCE AND METRICS ($MM) 1 YEAR-OVER-YEAR HIGHLIGHTS Net income up 12% o Higher asset growth and margin expansion 。 Lower provision for credit losses and expenses Revenues up 4% Q1/18 Y/Y Q/Q · Revenue $3,303 +4% +1% Expenses $1,605 (2%) (1%) PCLS $210 (11%) (4%) • Net Income Productivity Ratio $1,102 +12% +3% 48.6% (250bps) (130bps) • Net Interest Margin 2.41% +2bps Loan growth of 7% PCL Ratio 2, 3 0.25% (5bps) (2bps) PCL Ratio 0.27% on Impaired Loans 2, 3 (3bps) 。 Net interest income up 7% NET INCOME¹ ($MM) AND NIM (%) 2.39% 2.38% 2.41% 2.41% 2.41% • o Residential mortgages up 6% o Business loans up 14% NIM up 2 bps 。 Rising rate environment and changes in business mix PCL ratio 2,3 on impaired loans improved by 3 bps Expenses down 2% 。 Higher investments in technology, digital and regulatory initiatives offset by cost reduction initiatives and Hollis Wealth impact • 981 971 1,045 1,067 1,102 Q1/17 Q2/17 Q3/17 1 Attributable to equity holders of the Bank 2 2018 amounts are based on IFRS 9. Prior period amounts were based on IAS 39 Q4/17 Q1/18 . Positive operating leverage Scotiabank® 11 2 Provision for credit losses on certain assets - loans, acceptances and off-balance sheet exposures

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