Scotiabank Canadian Legislative Covered Bonds Presentation

Tangerine Overview Attractive Client Profile Canada's leading direct bank, a low cost, scalable, digital approach Transitioning from mono-line (savings-only) to multi-product offering Strategy offers superior growth opportunities - - Diversified NIAT profile in the face of intensified competition and low interest rates An evolved client experience that positions Tangerine as a financial catalyst instead of a utility Higher client growth from new products/cross-sell Stickier client base due to primary relationship status Enhance position by: - Delivering a unique, transformational client experience Acquiring new clients and deepening existing client relationships Solidifying brand and purpose in the marketplace Leveraging additional opportunities for collaboration between Tangerine and Scotiabank Client satisfaction continues to be the Bank's principal focus Attractive Client Profile Tangerine Forward Banking Big 5 42% 38% 35% 24% Avg. client age (25-44) Have a university degree Household income > $100k 13% 30% Personal income > $100k 5% 13% Investable assets > $500k 5% 11% Client Sources Tangerine Clients Indexed to other Financial Institutions 59% 21% 7% 3% BIG FIVE CREDIT UNIONS (EX BNS) BNS OTHER 47 Scotiabank®

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