Fiscal 2018 Financial Performance

INTEGRATION UPDATE Estimated accretion to diluted EPS remain unchanged ⚫ Closed acquisition of MD Financial. Completed merger of BBVA Chile. • BBVA integration proceeding well • Minimal customer attrition at MD Financial and Jarislowsky Fraser Remaining acquisition-related costs to be incurred in 2019 and 2020 Integration costs of $140-$190 million • Amortization of intangibles of $180-$200 million • Neutral impact to Adjusted EPS in fiscal 2019; ~$0.15 accretive in fiscal 2020 MD Canada Acquisition MD Financial Management Сма собран JARISLOWSKY FRASER GLOBAL INVESTMENT MANAGEMENT Impact Increased wealth management assets to $230B. Creates 3rd largest active asset manager in Canada. Closing/Expected Closing Closed ★ Chile BBVA Doubled market share to 14%. Creates 3rd largest private bank. Closed Peru banco cencosud Creates #2 bank in credit cards. Q1/19* Colombia Citibank Market leader in credit cards at 24% market share Closed Dominican Republic Doubles customer base. Creates 4th largest full-service PROGRESO Q1/19* bank. *Subject to regulatory approvals and closing conditions Scotiabank® | 5

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